11.—(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.