The Packaged Retail and Insurance-based Investment Products (Amendment) (EU Exit) Regulations 2019U.K.
53. In regulation 12(2)(c) (final provisions) of the Packaged Retail and Insurance-based Investment Products (Amendment) (EU Exit) Regulations 2019(1), for new paragraph 3 substitute—
“3.—(1) In this Article, “UK UCITS” and “EEA UCITS” have the meanings given in section 237(3) of FSMA.
(2) Where an EEA UCITS is recognised under section 272 of FSMA, the management company referred to in paragraph 1(b) or the investment company referred to in paragraph 1(d) above must comply with duties corresponding to those that, if the United Kingdom were a UCITS host Member State for the purposes of the UCITS Directive, would be imposed on the EEA UCITS in accordance with Article 94 of that Directive, to the extent it applies to key investor information.
(3) For the purposes of this Article, Article 94 is to be read as if—
(a)references to the UCITS host member State, or to a member State where the UCITS markets its units, were references to the United Kingdom;
(b)references to the competent authority of the UCITS host member State or of the member State where the UCITS markets its units were references to the FCA.”.
Commencement Information