Collective investment schemes constituted under Gibraltar lawU.K.
8.—(1) Article 3A (collective investment schemes constituted under Gibraltar law) M1 is amended as follows.
(2) Renumber the existing text as paragraph (1) and in that paragraph, for “as it applies” substitute “ as it applied immediately before [F1IP completion day]”.
(3) After paragraph (1) insert—
“(2) The Financial Services and Markets Act 2000 (Collective Investment Schemes Constituted in Other EEA States) Regulations 2001 M2 are to be read in relation to a collective investment scheme constituted in Gibraltar as if—
(a)in regulation 3, for the words from “in accordance with” to “that directive” there were substituted “ immediately before [F2IP completion day] would have been a UCITS to which the UCITS directive applied ”, and
(b)in regulation 4(b) after “referred to in” there were inserted “ the law of Gibraltar which implemented ”.”.
Textual Amendments
F1Words in reg. 8(2) 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. 32(d)(i)
F2Words in reg. 8(3) 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. 32(d)(ii)
Modifications etc. (not altering text)
C1Pts. 2, 3 applied (31.12.2020) by The Taxes (Amendments) (EU Exit) Regulations 2019 (S.I. 2019/689), regs. 1, 38 (with regs. 39-41); 2020 c. 1, Sch. 5 para. 1(1)
Commencement Information
I1Reg. 8 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(3)
Marginal Citations
M1Article 3A was inserted by S.I. 2012/2017.