PART 8Saving relating to certain EEA firms
Saving for certain EEA firms with temporary Part 4A permissionI173
1
The amendments of section 243 of the 2000 Act made by regulation 8(1) to (3) do not prevent an authorised unit trust scheme from having as its manager or trustee a qualifying EEA firm, and do not apply to an authorised unit trust scheme whose manager or trustee is a qualifying EEA firm.
2
The amendments of section 261D of the 2000 Act made by regulation 16(1) to (3) do not prevent an authorised contractual scheme from having as its manager or depositary a qualifying EEA firm, and do not apply to an authorised contractual scheme whose manager or depositary is a qualifying EEA firm.
3
The amendments of regulation 15 of the Open-Ended Investment Companies Regulations 2001 made by regulation 52(3) and (4) do not prevent an authorised open-ended investment company from having as its depositary or sole director a qualifying EEA firm, and do not apply to an authorised open-ended investment company in relation to a depositary or sole director which is a qualifying EEA firm.
4
A body corporate is for the purposes of this regulation a “qualifying EEA firm” if and so long as the body is, by virtue of regulation 8 or 11 of the EEA Passport Rights (Amendment, etc., and Transitional Provisions) (EU Exit) Regulations 2018 M1, treated as having a Part 4A permission relating to one or more regulated activities and either—
a
those regulated activities include the regulated activity specified in Article 51ZA M2 or 51ZC of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, or
b
the body had immediately before F1IP completion day, and continues to have, a Part 4A permission to carry on the regulated activity specified in Article 51ZB or 51ZD of that Order.