Home / CY AIFM Law of 2013 / PART VII – SPECIFIC RULES IN RELATION TO THIRD COUNTRIES / Section 61 - Conditions for the marketing in the Republic, with a passport, of EU AIFs managed by a non-EU AIFM, when the member state of reference of the AIFM is other than the Republic.
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Conditions for the marketing in the Republic, with a passport, of EU AIFs managed by a non-EU AIFM, when the member state of reference of the AIFM is other than the Republic.
61.-(1) A non-EU AIFM, duly authorised by the competent authorities of its Member State of reference in accordance with paragraph 1 of Article 37 of Directive 2011/61/EU, may market the units of an EU AIF it manages to professional investors in the Republic, with a passport, as soon as the conditions laid down in this section are met.
(2) The Commission shall receive the notification file in accordance with paragraph 4 of Article 39 of Directive 2011/61/EU and the statement in accordance with the second subparagraph of paragraph 5 of Article 30 of Directive 2011/61/EU from the competent authorities of the Member State of reference of the AIFM.
(3) The Commission shall accept the electronic transmission and filing of the documents referred to in subsection (2) from the competent authorities of the Member State of reference of the AIFM referred to in subsection (1).
(4) The AIFM referred to in section (1) may start marketing the units of the AIFs in the Republic, as of the date it is notified by the competent authority of its Member State of reference of the transmission of the notification file to the Commission in accordance with subsection (2).
(5) Arrangements referred to in point (h) of Annex IV of Directive 2011/61/EU are subject to the laws of the Republic, as the host Member State of the AIFM referred to in subsection (1) and to the supervision of the Commission.
(6) The Commission shall be informed about a material change to any of the particulars communicated in accordance with paragraph 9 of Article 39 of Directive 2011/61/EU, by the competent authorities of the Member State of reference of the AIFM.
(7) Subject to subsections (1) and (2) of section 67, the AIFM referred to in subsection (1) of this section, may market units of the AIFs it manages only to professional investors.
(8) Any official correspondence between the Commission and the AIFM referred to in subsection (1), and between the investors in the Republic and the relevant AIF and the AIFM, shall take place through the legal representative of that AIFM, which is established in its Member state of reference.
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