PART 2 Amendment of secondary legislation

CHAPTER 1 Amendment of the Alternative Investment Fund Managers Regulations 2013

Duties and powers of the FCA

11.—(1) In regulations 62, 63 and 64(1), for “Article 36 custodian” wherever it appears, substitute “third country AIF custodian”.

(2) In regulation 65—

(a) omit “directly applicable”, and

(b) after “under the directive” insert “which forms part of retained EU law”.

(3) Omit regulation 66.

(4) In regulation 67—

(a) in the heading, omit “and supervisory cooperation”;

(b) in paragraph (1), for “implementing provisions relating to Article 24 of the directive” substitute “rules 3.4.2 to 3.4.6C of the Investment Funds sourcebook and Articles 110 and 111 of the Commission Delegated Regulation”;

(c) omit paragraphs (2) to (4).

(5) In regulation 68, omit paragraphs (3) to (6).

(6) Omit regulation 69.

(1)

Regulations 62 to 64 are revoked by S.I. 2013/1797, but the revocation is not yet in effect.