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The Alternative Investment Fund Managers Regulations 2013

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Changes over time for: Section 3

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Changes to legislation:

The Alternative Investment Fund Managers Regulations 2013, Section 3 is up to date with all changes known to be in force on or before 28 February 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

[F1Meaning of “AIF”U.K.

This section has no associated Explanatory Memorandum

3.(1) AIF” means a collective investment undertaking, including investment compartments of such an undertaking, which—

(a)raises capital from a number of investors, with a view to investing it in accordance with a defined investment policy for the benefit of these investors; and

[F2(b)is not a UK UCITS;]

(2) An AIF may be open-ended or closed-ended, and constituted in any legal form, including under a contract, by means of a trust or under statute.

(3) None of the following entities is an AIF—

(a)an institution for occupational retirement provision which falls within the scope of Directive 2003/41/EC of the European Parliament and of the Council of 3 June 2003 on the activities and supervision of institutions for occupational retirement provision M1;

[F3(aa)an occupational pension scheme, within the meaning of section 1(1) (categories of pension schemes) of the Pension Schemes Act 1993;]

(b)a holding company;

(c)an employee participation scheme or employee savings scheme;

(d)a securitisation special purpose entity.]

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