Point in time view as at 31/12/2020.
The Alternative Investment Fund Managers Regulations 2013, Section 13 is up to date with all changes known to be in force on or before 10 March 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.
13.—(1) If the FCA proposes to refuse an application made under regulation 11(1) [F1, Article 15 [F2or 15a] of the EuSEF Regulation or Article 14 [F3or 14a] of the EuVECA Regulation] it must give the applicant a warning notice.
(2) If the FCA decides to refuse an application—
(a)it must give the applicant a decision notice; and
(b)the applicant may refer the matter to the Tribunal.
[F4(3) If the FCA has not determined an application made under Article 15 or 15a of the EuSEF Regulation or Article 14 or 14a of the EuVECA Regulation before the end of the period of two months starting with the date on which the applicant has provided all the information required by the FCA in connection with the application—
(a)the FCA is to be treated as having refused the application, and
(b)the applicant may refer the matter to the Tribunal.]
Textual Amendments
F1Words in reg. 13(1) inserted (1.3.2018) by The Alternative Investment Fund Managers (Amendment) Regulations 2018 (S.I. 2018/134), regs. 1(2), 2(5)(a)
F2Words in reg. 13(1) inserted (31.12.2020) by The Alternative Investment Fund Managers (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/328), regs. 1(3), 5(2)(a)(i) (as amended by S.I. 2019/325, reg. 58); 2020 c. 1, Sch. 5 para. 1(1)
F3Words in reg. 13(1) inserted (31.12.2020) by The Alternative Investment Fund Managers (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/328), regs. 1(3), 5(2)(a)(ii) (as amended by S.I. 2019/325, reg. 58); 2020 c. 1, Sch. 5 para. 1(1)
F4Reg. 13(3) substituted (31.12.2020) by The Alternative Investment Fund Managers (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/328), regs. 1(3), 5(2)(b) (as amended by S.I. 2019/325, reg. 58); 2020 c. 1, Sch. 5 para. 1(1)
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