{
  "url": "https://openlegislation.uk/eu-directive-2011-61",
  "json_url": "https://openlegislation.uk/eu-directive-2011-61.json",
  "id": "eudr/2011/61",
  "title": "Directive 2011/61/EU of the European Parliament and of the Council of 8 June 2011 on Alternative Investment Fund Managers and amending Directives 2003/41/EC and 2009/65/EC and Regulations (EC) No 1060/2009 and (EU) No 1095/2010 (Text with EEA relevance)",
  "short_title": "Directive 2011/61/EU of the European Parliament and of the Council of 8 June 2011 on Alternative Investment Fund Managers and amending Directives 2003/41/EC and 2009/65/EC and Regulations (EC) No 1060/2009 and (EU) No 1095/2010",
  "long_title": "Directive 2011/61/EU of the European Parliament and of the Council of 8 June 2011 on Alternative Investment Fund Managers and amending Directives 2003/41/EC and 2009/65/EC and Regulations (EC) No 1060/2009 and (EU) No 1095/2010 (Text with EEA relevance)",
  "citation": "EU Directive 2011/61",
  "type": "eudr",
  "year": "2011",
  "number": "61",
  "version": "current",
  "date": "2011-06-08",
  "revised": false,
  "valid_from": null,
  "extent": "E+W+S+N.I.",
  "unapplied_effects": 13,
  "provisions": [
    {
      "path": "introduction",
      "kind": "introduction",
      "number": null,
      "heading": "Introductory text",
      "url": "https://openlegislation.uk/eu-directive-2011-61/introduction",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": null
    },
    {
      "path": "chapter/I",
      "kind": "chapter",
      "number": "I",
      "heading": "GENERAL PROVISIONS",
      "url": null,
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": null
    },
    {
      "path": "article/1",
      "kind": "article",
      "number": "1",
      "heading": "Subject matter",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-1",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/I"
    },
    {
      "path": "article/2",
      "kind": "article",
      "number": "2",
      "heading": "Scope",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-2",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/I"
    },
    {
      "path": "article/3",
      "kind": "article",
      "number": "3",
      "heading": "Exemptions",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-3",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/I"
    },
    {
      "path": "article/4",
      "kind": "article",
      "number": "4",
      "heading": "Definitions",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-4",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/I"
    },
    {
      "path": "article/5",
      "kind": "article",
      "number": "5",
      "heading": "Determination of the AIFM",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-5",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/I"
    },
    {
      "path": "chapter/II",
      "kind": "chapter",
      "number": "II",
      "heading": "AUTHORISATION OF AIFMs",
      "url": null,
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": null
    },
    {
      "path": "article/6",
      "kind": "article",
      "number": "6",
      "heading": "Conditions for taking up activities as AIFM",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-6",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/II"
    },
    {
      "path": "article/7",
      "kind": "article",
      "number": "7",
      "heading": "Application for authorisation",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-7",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/II"
    },
    {
      "path": "article/8",
      "kind": "article",
      "number": "8",
      "heading": "Conditions for granting authorisation",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-8",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/II"
    },
    {
      "path": "article/9",
      "kind": "article",
      "number": "9",
      "heading": "Initial capital and own funds",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-9",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/II"
    },
    {
      "path": "article/10",
      "kind": "article",
      "number": "10",
      "heading": "Changes in the scope of the authorisation",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-10",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/II"
    },
    {
      "path": "article/11",
      "kind": "article",
      "number": "11",
      "heading": "Withdrawal of the authorisation",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-11",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/II"
    },
    {
      "path": "chapter/III",
      "kind": "chapter",
      "number": "III",
      "heading": "OPERATING CONDITIONS FOR AIFMs",
      "url": null,
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": null
    },
    {
      "path": "chapter/III/section/1",
      "kind": "section",
      "number": "1",
      "heading": "General requirements",
      "url": null,
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/III"
    },
    {
      "path": "article/12",
      "kind": "article",
      "number": "12",
      "heading": "General principles",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-12",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/III/section/1"
    },
    {
      "path": "article/13",
      "kind": "article",
      "number": "13",
      "heading": "Remuneration",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-13",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/III/section/1"
    },
    {
      "path": "article/14",
      "kind": "article",
      "number": "14",
      "heading": "Conflicts of interest",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-14",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/III/section/1"
    },
    {
      "path": "article/15",
      "kind": "article",
      "number": "15",
      "heading": "Risk management",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-15",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/III/section/1"
    },
    {
      "path": "article/16",
      "kind": "article",
      "number": "16",
      "heading": "Liquidity management",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-16",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/III/section/1"
    },
    {
      "path": "article/17",
      "kind": "article",
      "number": "17",
      "heading": null,
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-17",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/III/section/1"
    },
    {
      "path": "chapter/III/section/2",
      "kind": "section",
      "number": "2",
      "heading": "Organisational requirements",
      "url": null,
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/III"
    },
    {
      "path": "article/18",
      "kind": "article",
      "number": "18",
      "heading": "General principles",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-18",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/III/section/2"
    },
    {
      "path": "article/19",
      "kind": "article",
      "number": "19",
      "heading": "Valuation",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-19",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/III/section/2"
    },
    {
      "path": "chapter/III/section/3",
      "kind": "section",
      "number": "3",
      "heading": "Delegation of AIFM functions",
      "url": null,
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/III"
    },
    {
      "path": "article/20",
      "kind": "article",
      "number": "20",
      "heading": "Delegation",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-20",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/III/section/3"
    },
    {
      "path": "chapter/III/section/4",
      "kind": "section",
      "number": "4",
      "heading": "Depositary",
      "url": null,
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/III"
    },
    {
      "path": "article/21",
      "kind": "article",
      "number": "21",
      "heading": "Depositary",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-21",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/III/section/4"
    },
    {
      "path": "chapter/IV",
      "kind": "chapter",
      "number": "IV",
      "heading": "TRANSPARENCY REQUIREMENTS",
      "url": null,
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": null
    },
    {
      "path": "article/22",
      "kind": "article",
      "number": "22",
      "heading": "Annual report",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-22",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/IV"
    },
    {
      "path": "article/23",
      "kind": "article",
      "number": "23",
      "heading": "Disclosure to investors",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-23",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/IV"
    },
    {
      "path": "article/24",
      "kind": "article",
      "number": "24",
      "heading": "Reporting obligations to competent authorities",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-24",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/IV"
    },
    {
      "path": "chapter/V",
      "kind": "chapter",
      "number": "V",
      "heading": "AIFMs MANAGING SPECIFIC TYPES OF AIF",
      "url": null,
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": null
    },
    {
      "path": "chapter/V/section/1",
      "kind": "section",
      "number": "1",
      "heading": "AIFMs managing leveraged AIFs",
      "url": null,
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/V"
    },
    {
      "path": "article/25",
      "kind": "article",
      "number": "25",
      "heading": "Use of information by competent authorities, supervisory cooperation and limits to leverage",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-25",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/V/section/1"
    },
    {
      "path": "chapter/V/section/2",
      "kind": "section",
      "number": "2",
      "heading": "Obligations for AIFMs managing AIFs which acquire control of non-listed companies and issuers",
      "url": null,
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/V"
    },
    {
      "path": "article/26",
      "kind": "article",
      "number": "26",
      "heading": "Scope",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-26",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/V/section/2"
    },
    {
      "path": "article/27",
      "kind": "article",
      "number": "27",
      "heading": "Notification of the acquisition of major holdings and control of non-listed companies",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-27",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/V/section/2"
    },
    {
      "path": "article/28",
      "kind": "article",
      "number": "28",
      "heading": "Disclosure in case of acquisition of control",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-28",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/V/section/2"
    },
    {
      "path": "article/29",
      "kind": "article",
      "number": "29",
      "heading": "Specific provisions regarding the annual report of AIFs exercising control of non-listed companies",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-29",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/V/section/2"
    },
    {
      "path": "article/30",
      "kind": "article",
      "number": "30",
      "heading": "Asset stripping",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-30",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/V/section/2"
    },
    {
      "path": "chapter/VI",
      "kind": "chapter",
      "number": "VI",
      "heading": "RIGHTS OF EU AIFMs TO MARKET AND MANAGE EU AIFs IN THE UNION",
      "url": null,
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": null
    },
    {
      "path": "article/31",
      "kind": "article",
      "number": "31",
      "heading": "Marketing of units or shares of EU AIFs in the home Member State of the AIFM",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-31",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/VI"
    },
    {
      "path": "article/32",
      "kind": "article",
      "number": "32",
      "heading": "Marketing of units or shares of EU AIFs in Member States other than in the home Member State of the AIFM",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-32",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/VI"
    },
    {
      "path": "article/33",
      "kind": "article",
      "number": "33",
      "heading": "Conditions for managing EU AIFs established in other Member States and for providing services in other Member States",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-33",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/VI"
    },
    {
      "path": "chapter/VII",
      "kind": "chapter",
      "number": "VII",
      "heading": "SPECIFIC RULES IN RELATION TO THIRD COUNTRIES",
      "url": null,
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": null
    },
    {
      "path": "article/34",
      "kind": "article",
      "number": "34",
      "heading": "Conditions for EU AIFMs which manage non-EU AIFs which are not marketed in Member States",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-34",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/VII"
    },
    {
      "path": "article/35",
      "kind": "article",
      "number": "35",
      "heading": "Conditions for the marketing in the Union with a passport of a non-EU AIF managed by an EU AIFM",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-35",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/VII"
    },
    {
      "path": "article/36",
      "kind": "article",
      "number": "36",
      "heading": "Conditions for the marketing in Member States without a passport of non-EU AIFs managed by an EU AIFM",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-36",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/VII"
    },
    {
      "path": "article/37",
      "kind": "article",
      "number": "37",
      "heading": "Authorisation of non-EU AIFMs intending to manage EU AIFs and/or market AIFs managed by them in the Union in accordance with Article 39 or 40",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-37",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/VII"
    },
    {
      "path": "article/38",
      "kind": "article",
      "number": "38",
      "heading": "Peer review of authorisation and supervision of non-EU AIFMs",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-38",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/VII"
    },
    {
      "path": "article/39",
      "kind": "article",
      "number": "39",
      "heading": "Conditions for the marketing in the Union with a passport of EU AIFs managed by a non-EU AIFM",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-39",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/VII"
    },
    {
      "path": "article/40",
      "kind": "article",
      "number": "40",
      "heading": "Conditions for the marketing in the Union with a passport of non-EU AIFs managed by a non-EU AIFM",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-40",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/VII"
    },
    {
      "path": "article/41",
      "kind": "article",
      "number": "41",
      "heading": "Conditions for managing AIFs established in Member States other than the Member State of reference by non-EU AIFMs",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-41",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/VII"
    },
    {
      "path": "article/42",
      "kind": "article",
      "number": "42",
      "heading": "Conditions for the marketing in Member States without a passport of AIFs managed by a non-EU AIFM",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-42",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/VII"
    },
    {
      "path": "chapter/VIII",
      "kind": "chapter",
      "number": "VIII",
      "heading": "MARKETING TO RETAIL INVESTORS",
      "url": null,
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": null
    },
    {
      "path": "article/43",
      "kind": "article",
      "number": "43",
      "heading": "Marketing of AIFs by AIFMs to retail investors",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-43",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/VIII"
    },
    {
      "path": "chapter/IX",
      "kind": "chapter",
      "number": "IX",
      "heading": "COMPETENT AUTHORITIES",
      "url": null,
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": null
    },
    {
      "path": "chapter/IX/section/1",
      "kind": "section",
      "number": "1",
      "heading": "Designation, powers and redress procedures",
      "url": null,
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/IX"
    },
    {
      "path": "article/44",
      "kind": "article",
      "number": "44",
      "heading": "Designation of competent authorities",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-44",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/IX/section/1"
    },
    {
      "path": "article/45",
      "kind": "article",
      "number": "45",
      "heading": "Responsibility of competent authorities in Member States",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-45",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/IX/section/1"
    },
    {
      "path": "article/46",
      "kind": "article",
      "number": "46",
      "heading": "Powers of competent authorities",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-46",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/IX/section/1"
    },
    {
      "path": "article/47",
      "kind": "article",
      "number": "47",
      "heading": "Powers and competences of ESMA",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-47",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/IX/section/1"
    },
    {
      "path": "article/48",
      "kind": "article",
      "number": "48",
      "heading": "Administrative penalties",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-48",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/IX/section/1"
    },
    {
      "path": "article/49",
      "kind": "article",
      "number": "49",
      "heading": "Right of appeal",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-49",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/IX/section/1"
    },
    {
      "path": "chapter/IX/section/2",
      "kind": "section",
      "number": "2",
      "heading": "Cooperation between different competent authorities",
      "url": null,
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/IX"
    },
    {
      "path": "article/50",
      "kind": "article",
      "number": "50",
      "heading": "Obligation to cooperate",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-50",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/IX/section/2"
    },
    {
      "path": "article/51",
      "kind": "article",
      "number": "51",
      "heading": "Transfer and retention of personal data",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-51",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/IX/section/2"
    },
    {
      "path": "article/52",
      "kind": "article",
      "number": "52",
      "heading": "Disclosure of information to third countries",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-52",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/IX/section/2"
    },
    {
      "path": "article/53",
      "kind": "article",
      "number": "53",
      "heading": "Exchange of information relating to the potential systemic consequences of AIFM activity",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-53",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/IX/section/2"
    },
    {
      "path": "article/54",
      "kind": "article",
      "number": "54",
      "heading": "Cooperation in supervisory activities",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-54",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/IX/section/2"
    },
    {
      "path": "article/55",
      "kind": "article",
      "number": "55",
      "heading": "Dispute settlement",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-55",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/IX/section/2"
    },
    {
      "path": "chapter/X",
      "kind": "chapter",
      "number": "X",
      "heading": "TRANSITIONAL AND FINAL PROVISIONS",
      "url": null,
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": null
    },
    {
      "path": "article/56",
      "kind": "article",
      "number": "56",
      "heading": "Exercise of the delegation",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-56",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/X"
    },
    {
      "path": "article/57",
      "kind": "article",
      "number": "57",
      "heading": "Revocation of the delegation",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-57",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/X"
    },
    {
      "path": "article/58",
      "kind": "article",
      "number": "58",
      "heading": "Objections to delegated acts",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-58",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/X"
    },
    {
      "path": "article/59",
      "kind": "article",
      "number": "59",
      "heading": "Implementing measures",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-59",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/X"
    },
    {
      "path": "article/60",
      "kind": "article",
      "number": "60",
      "heading": "Disclosure of derogations",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-60",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/X"
    },
    {
      "path": "article/61",
      "kind": "article",
      "number": "61",
      "heading": "Transitional provisions",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-61",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/X"
    },
    {
      "path": "article/62",
      "kind": "article",
      "number": "62",
      "heading": "Amendments to Directive 2003/41/EC",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-62",
      "extent": "E+W+S+N.I.",
      "status": "repealed",
      "parent": "chapter/X"
    },
    {
      "path": "article/63",
      "kind": "article",
      "number": "63",
      "heading": "Amendments to Directive 2009/65/EC",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-63",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/X"
    },
    {
      "path": "article/64",
      "kind": "article",
      "number": "64",
      "heading": "Amendment to Regulation (EC) No 1060/2009",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-64",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/X"
    },
    {
      "path": "article/65",
      "kind": "article",
      "number": "65",
      "heading": "Amendment to Regulation (EU) No 1095/2010",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-65",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/X"
    },
    {
      "path": "article/66",
      "kind": "article",
      "number": "66",
      "heading": "Transposition",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-66",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/X"
    },
    {
      "path": "article/67",
      "kind": "article",
      "number": "67",
      "heading": "Delegated act on the application of Article 35 and Articles 37 to 41",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-67",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/X"
    },
    {
      "path": "article/68",
      "kind": "article",
      "number": "68",
      "heading": "Delegated act on the termination of the application of Articles 36 and 42",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-68",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/X"
    },
    {
      "path": "article/69",
      "kind": "article",
      "number": "69",
      "heading": "Review",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-69",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/X"
    },
    {
      "path": "article/70",
      "kind": "article",
      "number": "70",
      "heading": "Entry into force",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-70",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/X"
    },
    {
      "path": "article/71",
      "kind": "article",
      "number": "71",
      "heading": "Addressees",
      "url": "https://openlegislation.uk/eu-directive-2011-61/article-71",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "chapter/X"
    },
    {
      "path": "annex/I",
      "kind": "annex",
      "number": "I",
      "heading": null,
      "url": null,
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": null
    },
    {
      "path": "annex/I/division/1",
      "kind": "division",
      "number": "1",
      "heading": "Investment management functions which an AIFM shall at least perform when managing an AIF:",
      "url": "https://openlegislation.uk/eu-directive-2011-61/annex-I/division-1",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "annex/I"
    },
    {
      "path": "annex/I/division/2",
      "kind": "division",
      "number": "2",
      "heading": "Other functions that an AIFM may additionally perform in the course of the collective management of an AIF:",
      "url": "https://openlegislation.uk/eu-directive-2011-61/annex-I/division-2",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "annex/I"
    },
    {
      "path": "annex/II",
      "kind": "annex",
      "number": "II",
      "heading": "REMUNERATION POLICY",
      "url": null,
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": null
    },
    {
      "path": "annex/II/division/1",
      "kind": "division",
      "number": "1",
      "heading": "When establishing and applying the total remuneration policies, inclusive of salaries and discretionary pension benefits, for those categories of staff, including senior management, risk takers, control functions and any employee receiving total remuneration that takes them into the same remuneration bracket as senior management and risk takers, whose professional activities have a material impact on the risk profiles of the AIFMs or of AIFs they manage, AIFMs shall comply with the following principles in a way and to the extent that is appropriate to their size, internal organisation and the nature, scope and complexity of their activities:",
      "url": "https://openlegislation.uk/eu-directive-2011-61/annex-II/division-1",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "annex/II"
    },
    {
      "path": "annex/II/division/2",
      "kind": "division",
      "number": "2",
      "heading": null,
      "url": "https://openlegislation.uk/eu-directive-2011-61/annex-II/division-2",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "annex/II"
    },
    {
      "path": "annex/II/division/3",
      "kind": "division",
      "number": "3",
      "heading": "AIFMs that are significant in terms of their size or the size of the AIFs they manage, their internal organisation and the nature, the scope and the complexity of their activities shall establish a remuneration committee. The remuneration committee shall be constituted in a way that enables it to exercise competent and independent judgment on remuneration policies and practices and the incentives created for managing risk.",
      "url": "https://openlegislation.uk/eu-directive-2011-61/annex-II/division-3",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "annex/II"
    },
    {
      "path": "annex/III",
      "kind": "annex",
      "number": "III",
      "heading": "DOCUMENTATION AND INFORMATION TO BE PROVIDED IN CASE OF INTENDED MARKETING IN THE HOME MEMBER STATE OF THE AIFM",
      "url": "https://openlegislation.uk/eu-directive-2011-61/annex-III",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": null
    },
    {
      "path": "annex/IV",
      "kind": "annex",
      "number": "IV",
      "heading": "DOCUMENTATION AND INFORMATION TO BE PROVIDED IN THE CASE OF INTENDED MARKETING IN MEMBER STATES OTHER THAN THE HOME MEMBER STATE OF THE AIFM",
      "url": "https://openlegislation.uk/eu-directive-2011-61/annex-IV",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": null
    }
  ],
  "outstanding_effects": [],
  "made_under": [],
  "changes_made_to": 21,
  "changes_made_to_url": "https://openlegislation.uk/eu-directive-2011-61/changes.json",
  "changes_made_by": 7,
  "changes_made_by_url": "https://openlegislation.uk/eu-directive-2011-61/changes/by-it.json",
  "instruments_made_under": 0,
  "instruments_made_under_url": "https://openlegislation.uk/eu-directive-2011-61/instruments.json",
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eudr/2011/61",
    "retrieved_at": "2026-11-01T15:22:00.140396+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}