PART 3Amendment of Regulation (EU) 2015/760
Redemption policy and life of LTIFs23
1
Article 18 (the heading to which becomes “Redemption policy and life of LTIFs”) is amended as follows.
2
In paragraph 1, for “ELTIF” substitute “LTIF” in each place.
3
In paragraph 2—
a
for “ELTIF” substitute “LTIF” in each place;
b
in point (b), for “competent authorities” substitute “FCA”.
4
In paragraph 3, for “ELTIF” substitute “LTIF” in each place.
5
In paragraph 4—
a
for “an ELTIF” substitute “an LTIF”;
b
for “ELTIF’s” substitute “LTIF’s”.
6
In paragraph 6—
a
for “an ELTIF’s” substitute “an LTIF’s”;
b
for “ELTIF” substitute “LTIF” in both places.
7
For paragraph 7, substitute—
7
The FCA may make technical standards specifying the circumstances in which the life of an LTIF is considered sufficient in length to cover the life-cycle of each of the individual assets of the LTIF, as referred to in paragraph 3.