Home / CY AIFM Law of 2013 / PART VII – SPECIFIC RULES IN RELATION TO THIRD COUNTRIES / Section 46 - Complementary provisions to sections 44 and 45.

Complementary provisions to sections 44 and 45.

46.-(1) The Commission may, by Directive, develop guidelines to determine the conditions of application of the measures adopted by the European Commission in accordance with paragraph 11 of Article 35 of Directive 2011/61/EU regarding the cooperation arrangements referred to point (a) of paragraph 2 of this Article.

(2) The Commission may, by directive, develop regulatory technical standards to determine any of the following:

(a) the minimum content of the cooperation arrangements referred to in subsection (2) of section 44 so as to ensure that the exchange of information between the Commission and the competent authorities of the host or home Member State of the AIFM, respectively, so that the Commission will be able to exercise its supervisory and investigatory powers under this Law;

(b) the procedures for coordination and exchange of information between the Commission, as the competent authority of the home Member State of the AIFM and the competent authorities of the host Member State of the AIFM and, respectively, between the competent authorities of the home Member State of the AIFM and the Commission, as the competent authority of the host Member State of the AIFM.

(3) The Commission may, by directive, develop draft implementing technical standards to determine:

(a) the form and content of a model for the notification letter referred to in subsections (4) and (6) of section 44;

(b) the form and content of a model for the statement referred to in subsection (7) of section 44;

(c) the form of the transmission referred to in subsection (7) of section 44;

(d) the form of the written notice referred to in subsection (11) of section 44.

(4) The Commission, as the competent authority of the Republic, may act in accordance with paragraph 15 of Article 35 of Directive 2011/61/EU.