Article 1 Procedure and conditions for opt in

United Kingdom

An alternative investment fund manager (AIFM) that meets the conditions provided for in F1regulation 9 of the Alternative Investment Fund Managers Regulations 2013 (the “AIFM Regulations 2013”) and chooses to opt in F2to regulation as a full-scope AIFM shall submit an application for authorisation to the F3Financial Conduct Authority.

The application shall follow the same procedure provided for in F4section 55U of the Financial Services and Markets Act 2000 (“FSMA”) and regulation 5 of the AIFM Regulations 2013.

The F5Financial Conduct Authority may exempt an AIFM referred to in paragraph 1 from submitting all information and documents required under F6section 55U of FSMA and by regulation 5 of the AIFM Regulations 2013, provided that the exempted information or documents have been already submitted to F7the Financial Conduct Authority for registration purposes in accordance with F8regulations 11, 15 and 21 of the AIFM Regulations 2013 or as part of the authorisation procedure pursuant to F9sections 242 and 261C of FSMA and regulation 12 of the Open-Ended Investment Companies Regulations 2001 and provided that such information and documents are still up to date, which is confirmed in writing by the AIFM.

The F10Financial Conduct Authority shall grant an authorisation following the same procedure as provided for in F11regulation 5 of the AIFM Regulations 2013.

Annotations

Textual amendments

F1: Words in Art. 1(1) substituted (31.12.2020) by The Alternative Investment Fund Managers (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/328), regs. 1(3), 41(2)(a)(i) (as amended by S.I. 2019/325, reg. 58); 2020 c. 1, Sch. 5 para. 1(1)
F2: Words in Art. 1(1) substituted (31.12.2020) by The Alternative Investment Fund Managers (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/328), regs. 1(3), 41(2)(a)(ii) (as amended by S.I. 2019/325, reg. 58); 2020 c. 1, Sch. 5 para. 1(1)
F3: Words in Art. 1(1) substituted (31.12.2020) by The Alternative Investment Fund Managers (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/328), regs. 1(3), 41(2)(a)(iii) (as amended by S.I. 2019/325, reg. 58); 2020 c. 1, Sch. 5 para. 1(1)
F4: Words in Art. 1(1) substituted (31.12.2020) by The Alternative Investment Fund Managers (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/328), regs. 1(3), 41(2)(b) (as amended by S.I. 2019/325, reg. 58); 2020 c. 1, Sch. 5 para. 1(1)
F5: Words in Art. 1(2) substituted (31.12.2020) by The Alternative Investment Fund Managers (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/328), regs. 1(3), 41(2)(c)(i) (as amended by S.I. 2019/325, reg. 58); 2020 c. 1, Sch. 5 para. 1(1)
F6: Words in Art. 1(2) substituted (31.12.2020) by The Alternative Investment Fund Managers (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/328), regs. 1(3), 41(2)(c)(ii) (as amended by S.I. 2019/325, reg. 58); 2020 c. 1, Sch. 5 para. 1(1)
F7: Words in Art. 1(2) substituted (31.12.2020) by The Alternative Investment Fund Managers (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/328), regs. 1(3), 41(2)(c)(iv) (as amended by S.I. 2019/325, reg. 58); 2020 c. 1, Sch. 5 para. 1(1)
F8: Words in Art. 1(2) substituted (31.12.2020) by The Alternative Investment Fund Managers (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/328), regs. 1(3), 41(2)(c)(iii) (as amended by S.I. 2019/325, reg. 58); 2020 c. 1, Sch. 5 para. 1(1)
F9: Words in Art. 1(2) substituted (31.12.2020) by The Alternative Investment Fund Managers (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/328), regs. 1(3), 41(2)(c)(v) (as amended by S.I. 2019/325, reg. 58); 2020 c. 1, Sch. 5 para. 1(1)
F10: Words in Art. 1(3) substituted (31.12.2020) by The Alternative Investment Fund Managers (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/328), regs. 1(3), 41(2)(d)(i) (as amended by S.I. 2019/325, reg. 58); 2020 c. 1, Sch. 5 para. 1(1)
F11: Words in Art. 1(3) substituted (31.12.2020) by The Alternative Investment Fund Managers (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/328), regs. 1(3), 41(2)(d)(ii) (as amended by S.I. 2019/325, reg. 58); 2020 c. 1, Sch. 5 para. 1(1)