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7. Regulation 8 applies to a manager of a qualifying venture capital fund who, before exit day—
(a)is informed by the FCA that the manager has been registered as a manager of a qualifying venture capital fund, in accordance with Article 14(4) of Regulation (EU) No 345/2013 as it had effect before exit day; and
(b)has not otherwise ceased to meet the conditions in Regulation (EU) No 345/2013 for registration as a manager of a qualifying venture capital fund as those conditions had effect before exit day.
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