Article 6
United Kingdom
Managers of qualifying social entrepreneurship fund shall market the units and shares of the qualifying social entrepreneurship fund exclusively to investors which are considered to be professional clients in accordance with F1Part 2 of Schedule 1 to the Markets in Financial Instruments Regulation 2014, or which may, on request, be treated as professional clients in accordance with F2Part 3 of Schedule 1 to the Markets in Financial Instruments Regulation 2014, or to other investors that:
commit to invest a minimum of EUR 100 000; and
state in writing, in a separate document from the contract that is concluded for the commitment to invest, that they are aware of the risks associated with the envisaged commitment.
Paragraph 1 shall not apply to investments made by executives, directors or employees involved in the management of a manager of a qualifying social entrepreneurship fund when investing in the qualifying social entrepreneurship funds that they manage.
Annotations
Textual amendments
- F1
Words in Art. 6(1) substituted (31.12.2020) by The Social Entrepreneurship Funds (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/343), regs. 1(1), 4(2)(a) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)
- F2
Words in Art. 6(1) substituted (31.12.2020) by The Social Entrepreneurship Funds (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/343), regs. 1(1), 4(2)(b) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)