C1PART 3Amendments to the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001

Annotations:
Modifications etc. (not altering text)

C1Schedule 8 (persons excluded from regulated activity of managing an AIF)I1C1161

1

Schedule 8 M1 (persons excluded from regulated activity of managing an AIF) is amended as follows.

2

In paragraph 1, after “the alternative investment fund managers directive” insert “ , and not referred to in paragraph 1B, ”.

3

After paragraph 1 insert—

1A

For the purposes of paragraph 1, in Article 4(1)(o) of the alternative investment fund managers directive (definition of “holding company”) the reference to the Union is to be read as a reference to the United Kingdom.

1B

In this Schedule—

“parent undertaking” has the meaning given by section 1162 of the Companies Act 2006 M2 (read with Schedule 7 to that Act);

“subsidiary” has the meaning given to “subsidiary undertaking” by that section (read with that Schedule)

4

For paragraph 4 substitute—

4

The trustees and managers of an occupational pension scheme within the meaning of section 1(1) of the Pension Schemes Act 1993 M3.

5

In paragraph 5—

a

omit “The European Central Bank,”;

b

for “, any other” substitute “ or any other ”;

c

omit “or a European Development Finance Institution,”.

6

In paragraph 11 M4—

a

for “an EEA State” substitute “ the United Kingdom ”;

b

for the words after “in accordance with” substitute “ Part 3 of the Alternative Investment Fund Managers Regulations 2013 M5. ”.