59.—(1) A third country AIFM that is not a small AIFM must give written notification to the FCA before marketing an AIF managed by it.
(2) The notification must include a statement confirming that the following conditions are met—
(a)the AIFM is the person responsible for complying with the implementing provisions relating to the marketing of the AIF;
(b)the AIFM complies with the requirements of Articles 22 to 24 of the directive in so far as such provisions are relevant to the AIFM and the AIF to be marketed;
(c)if applicable, the AIFM complies with Part 5 in relation to the AIF to be marketed;
(d)appropriate cooperation arrangements for the purpose of systemic risk oversight and in line with international standards are in place between—
(i)the FCA and, if applicable, the competent authority of the other EEA State where the AIF is established, and
(ii)the supervisory authorities of the country where the third country AIFM is established and, if applicable, of the third country where the AIF is established,
in order to ensure an efficient exchange of information that enables the FCA and, if applicable, the other competent authority to carry out its duties in accordance with the directive;
(e)the country where the third country AIFM and, if applicable, the third country AIF is established is not listed as a Non-Cooperative Country and Territory by the Financial Action Task Force.
(3) During the period specified in paragraph (4), an AIFM that has given a notification under paragraph (1) in respect of an AIF must comply with—
(a)the implementing provisions applicable to full-scope UK AIFMs which relate to the provisions of Articles 22 to 24 of the directive in so far as such provisions are relevant to the AIFM and the AIF; and
(b)Part 5 in respect of that AIF (if applicable).
(4) The period specified in this paragraph starts on the date on which the AIFM gives the notification under paragraph (1) and ends—
(a)if an investor’s acquisition of units or shares of the AIF results from marketing that is permitted because of the notification, on the date on which the final such investor disposes of such units or shares; or
(b)if there is no acquisition of units or shares of the AIF resulting from such marketing, on the date on which the AIFM ceases marketing the AIF.