Article 15a F1

United Kingdom

Managers of collective investment undertakings F2who have permission under Part 4A of the FSMA to carry on the regulated activity specified by article 51ZC of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (managing an AIF) shall apply for registration of the qualifying social entrepreneurship funds for which they intend to use the designation ‘F3SEF’.

The application for registration referred to in paragraph 1 shall be made to the F4FCA and shall include the following:

(a)

the rules or instruments of incorporation of the qualifying social entrepreneurship fund;

(b)

information on the identity of the depositary;

(c)

the information referred to in Article 15(1);

F5(d)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

For the purposes of point (c) of the first subparagraph, the information on the arrangements made for complying with the requirements of Chapter II shall refer to the arrangements made for complying with Articles 5, 6 and 10, Article 13(2) and points (d), (e) and (f) of Article 14(1).

F63.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Managers as referred to in paragraph 1 shall not be required to provide information or documents which they have already provided under F7the law of the United Kingdom or any part of the United Kingdom which was relied on immediately before IP completion day to implement Directive 2011/61/EU and its implementing measures—

(i)

as they have effect on IP completion day, in the case of rules made by the FCA or by the PRA under FSMA, and

(ii)

as amended from time to time, in all other cases.

Having assessed the documentation received in accordance with paragraph 2 F8..., the F9FCA shall register a fund as a qualifying social entrepreneurship fund if the manager of that fund meets the conditions laid down in Article 15(2).

The F10FCA shall inform the manager as referred to in paragraph 1 whether that fund has been registered as a qualifying social entrepreneurship fund no later than two months after that manager has provided all the documentation referred to in paragraph 2.

Registration under this Article shall be valid in the F11United Kingdom and shall allow the marketing of those funds F12in the United Kingdom under the designation ‘F13SEF’.

F148.

The FCA may make technical standards to specify further the information to be provided to it in accordance with paragraph 2.

The FCA may make technical standards on standard forms, templates and procedures for the provision of information to it in accordance with paragraph 2.

F1510.

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Annotations

Textual amendments

F1: Inserted by Regulation (EU) 2017/1991 of the European Parliament and of the Council of 25 October 2017 amending Regulation (EU) No 345/2013 on European venture capital funds and Regulation (EU) No 346/2013 on European social entrepreneurship funds (Text with EEA relevance).
F2: Words in Art. 15a(1) substituted (31.12.2020) by The Social Entrepreneurship Funds (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/343), regs. 1(1), 5(2)(a)(i) (with reg. 9) (as amended by S.I. 2020/1301, regs. 1, 3, Sch. para. 24(c)-(e) and with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)
F3: Word in Art. 15a(1) substituted (31.12.2020) by The Social Entrepreneurship Funds (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/343), regs. 1(1), 5(2)(a)(ii) (with reg. 9) (as amended by S.I. 2020/1301, regs. 1, 3, Sch. para. 24(c)-(e) and with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)
F4: Word in Art. 15a(2) substituted (31.12.2020) by The Social Entrepreneurship Funds (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/343), regs. 1(1), 5(2)(b)(i) (with reg. 9) (as amended by S.I. 2020/1301, regs. 1, 3, Sch. para. 24(c)-(e) and with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)
F5: Art. 15a(2)(d) omitted (31.12.2020) by virtue of The Social Entrepreneurship Funds (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/343), regs. 1(1), 5(2)(b)(ii) (with reg. 9) (as amended by S.I. 2020/1301, regs. 1, 3, Sch. para. 24(c)-(e) and with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)
F6: Art. 15a(3) omitted (31.12.2020) by virtue of The Social Entrepreneurship Funds (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/343), regs. 1(1), 5(2)(c) (with reg. 9) (as amended by S.I. 2020/1301, regs. 1, 3, Sch. para. 24(c)-(e) and with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)
F7: Words in Art. 15a(4) substituted (31.12.2020) by The Social Entrepreneurship Funds (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/343), regs. 1(1), 5(2)(d) (with reg. 9) (as amended by S.I. 2020/1301, regs. 1, 3, Sch. para. 24(b)-(e) and with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)
F8: Words in Art. 15a(5) omitted (31.12.2020) by virtue of The Social Entrepreneurship Funds (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/343), regs. 1(1), 5(2)(e)(i) (with reg. 9) (as amended by S.I. 2020/1301, regs. 1, 3, Sch. para. 24(c)-(e) and with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)
F9: Word in Art. 15a(5) substituted (31.12.2020) by The Social Entrepreneurship Funds (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/343), regs. 1(1), 5(2)(e)(ii) (with reg. 9) (as amended by S.I. 2020/1301, regs. 1, 3, Sch. para. 24(c)-(e) and with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)
F10: Word in Art. 15a(6) substituted (31.12.2020) by The Social Entrepreneurship Funds (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/343), regs. 1(1), 5(2)(f) (with reg. 9) (as amended by S.I. 2020/1301, regs. 1, 3, Sch. para. 24(c)-(e) and with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)
F11: Words in Art. 15a(7) substituted (31.12.2020) by The Social Entrepreneurship Funds (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/343), regs. 1(1), 5(2)(g)(i) (with reg. 9) (as amended by S.I. 2020/1301, regs. 1, 3, Sch. para. 24(c)-(e) and with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)
F12: Words in Art. 15a(7) substituted (31.12.2020) by The Social Entrepreneurship Funds (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/343), regs. 1(1), 5(2)(g)(ii) (with reg. 9) (as amended by S.I. 2020/1301, regs. 1, 3, Sch. para. 24(c)-(e) and with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)
F13: Word in Art. 15a(7) substituted (31.12.2020) by The Social Entrepreneurship Funds (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/343), regs. 1(1), 5(2)(g)(iii) (with reg. 9) (as amended by S.I. 2020/1301, regs. 1, 3, Sch. para. 24(c)-(e) and with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)
F14: Art. 15a(8)(9) substituted (31.12.2020) by The Social Entrepreneurship Funds (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/343), regs. 1(1), 5(2)(h) (with reg. 9) (as amended by S.I. 2020/1301, regs. 1, 3, Sch. para. 24(c)-(e) and with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)
F15: Art. 15a(10) omitted (31.12.2020) by virtue of The Social Entrepreneurship Funds (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/343), regs. 1(1), 5(2)(i) (with reg. 9) (as amended by S.I. 2020/1301, regs. 1, 3, Sch. para. 24(c)-(e) and with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)