Home / CY AIF Law of 2018 / PART VI TRANSFER OF AN AIF FROM AND TO THE REPUBLIC / [122] Transfer of an AIF, established under statute, to and from the Republic.

122. Transfer of an AIF, established under statute, to and from the Republic.

(1) (a) An AIF which is established as an investment company in another country may continue its operation in the Republic, as AIF subject to the provisions of this Law.

(b) The provisions of sections 354A to 354ΙH of the Company Law, regarding the transfer of the registered office of a company established in another country to the Republic through the continuance of the operations of the company as a legal entity under the framework or the jurisdiction of the Republic, shall apply to AIFs with a registered office in another country.

(2) (a) An AIF which is established as an investment company in the Republic may continue its operation in another country, as a collective investment undertaking subject to the provisions of the legislation of that country.

(b) The provisions of sections 354A to 354ΙH of the Company Law regarding the transfer of the registered office of a company established in the Republic to another country through the continuance of the operations of the company as a legal entity under the framework or the jurisdiction of that country, shall apply, proportionately, to internally managed AIFs which operate in the form of an investment company, per article 6(2)(a), and which are not AIFMs which are internally managed AIFs; these provisions shall also apply, to internally managed AIFs which operate in the form of an investment company, per article 6(2)(b).

(3) The Securities and Exchange Commission may, by means of a directive, specify the procedure for the transfer of the registered office to the Republic in accordance with section (1) or the procedure for the transfer of the registered office from the Republic in accordance with section (2).