Home / CY AIFM Law of 2013 / PART ΙΙ – AUTHORISATION OF AIFMs / Section 10 - Changes in the scope of authorisation. 

Changes in the scope of authorisation.

10.-(1) An AIFM of the Republic, before implementation, shall notify the Commission, of any material changes to the conditions for initial authorisation, in particular material changes to the information provided in accordance with section 7.

(2) In case the Commission decides to reject, or to impose restrictions to the application of the changes referred to in paragraph (1), shall, within one month of receipt of that notification, inform the AIFM. The Commission may prolong that period for up to one month where it considers this to be necessary because of the specific circumstances of the case and after having notified the AIFM accordingly. The changes shall be implemented if the Commission does not oppose the changes within the relevant assessment period.