Regulation 11 Modification of the Alternative Investment Fund Managers Regulations 2013I1

United Kingdom

(1)

The Alternative Investment Fund Managers Regulations 2013 are modified as follows.

(2)

In respect of a manager to whom regulation 8 applies—

(a)

regulation 10(4) (small registered UK AIFMs) has effect as if for sub-paragraph (c) there were substituted—

“(c)
is treated as registered as a manager of a qualifying social entrepreneurship fund under Article 15 of the EuSEF Regulation, in accordance with regulation 8 of the European Social Entrepreneurship Funds (Amendment) (EU Exit) Regulations 2018.”;

(b)

Part 3 (small AIFMs) has effect as if regulations 11 to 13 were omitted.

(3)

In respect of a fund to which regulation 9 applies, Part 3B (qualifying social entrepreneurship funds and qualifying venture capital funds) has effect as if regulations 23D and 23E were omitted.

Annotations

Commencement

I1: Reg. 11 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(1)

Notes on Chapter

Textual amendments

F1: Words in Pt. 3 heading substituted (30.12.2020) by The Financial Services and Economic and Monetary Policy (Consequential Amendments) (EU Exit) Regulations 2020 (S.I. 2020/1301), regs. 1, 3, Sch. para. 24(c)