Home / CY AIFM Law of 2013 / PART VI – RIGHTS OF AIFMs TO MANAGE AND MARKET EU AIFs IN THE UNION / Section 40 - Marketing of units of EU AIFs in the Republic managed by an AIFM of another Member State.
Embedded Files
Marketing of units of EU AIFs in the Republic managed by an AIFM of another Member State.
40.-(1) An EU AIFM authorised by the competent authorities of a Member State other than the Republic, in accordance with Directive 2011/61/EU and for which the Republic is the host Member State, may market the units of any EU AIF that it manages, as soon as the conditions laid down in this article are met. Where the EU AIF is a feeder AIF the right to market in the Republic is subject to the condition that the master AIF is also an EU AF which is authorised by an EU AIFM in accordance with Directive 2011/61/EU.
(2) An EU AIFM, referred to in subsection (1) of this section, may start marketing the units of the AIF in the Republic, from the date of the notification of the AIFM by the competent authorities of its home member state, in accordance with paragraph 4 of Article 32 of Directive 2011/61/EU. The Commission shall accept electronic transmission and/or filing of the documents referred to in paragraph 3 of Article 32 of Directive 2011/61/EU.
(3) Arrangements referred to in point h) of Annex IV of Directive 2011/61/EU, which the AIFM, referred to in subsection (1) of this section, shall notify to the competent authorities of its home Member State in accordance with paragraph 2 of Article 2 of Directive 2011/61/EU, are subject to the law of the Republic and to the supervision of the Commission.
(4) Subject to section 67(1) and (2), an EU AIFM referred to in subsection (1) of this section, may market the units of the AIF it manages, only to professional investors.
Page updated
Report abuse