PART 3
Transitional provision for managers and funds registered with the FCA before F1IP completion day
Modification of the Alternative Investment Fund Managers Regulations 2013I111
1
The Alternative Investment Fund Managers Regulations 2013 are modified as follows.
2
In respect of a manager to whom regulation 8 applies—
a
regulation 10(4) (small registered UK AIFMs) has effect as if for sub-paragraph (c) there were substituted—
c
is treated as registered as a manager of a qualifying social entrepreneurship fund under Article 15 of the EuSEF Regulation, in accordance with regulation 8 of the European Social Entrepreneurship Funds (Amendment) (EU Exit) Regulations 2018.
b
Part 3 (small AIFMs) has effect as if regulations 11 to 13 were omitted.
3
In respect of a fund to which regulation 9 applies, Part 3B (qualifying social entrepreneurship funds and qualifying venture capital funds) has effect as if regulations 23D and 23E were omitted.
Words in Pt. 3 heading substituted (30.12.2020) by The Financial Services and Economic and Monetary Policy (Consequential Amendments) (EU Exit) Regulations 2020 (S.I. 2020/1301), regs. 1, 3, Sch. para. 24(c)