COLL TP 1 Transitional Provisions

Extra time provisions

Existing schemes electing to comply with COLL

1

Each and every rule in COLL15

R15

Expired15

1A3

Each and every rule in COLL8

R

The rules in COLL do not apply to any relevant party in relation to an authorised fund where the winding up of the fund has commenced before 12 February 2007, provided that each relevant party shall continue to comply with the provisions of CIS as if they still applied to them.

From 12 February 2007

12 February 2007

2

Each and every rule in COLL15

G15

Expired15

3

Each and every rule in COLL15

R15

Expired15

4

Each and every rule in COLL15

G

Expired15

5

6COLL 6.9.9 R (4) to (6) (Restrictions of business for UCITS management companies)15

R15

Expired15

.

6

COLL 6.9.9 R (4) to (6) (Restrictions of business for UCITS management companies)15

G15

Expired15

7

COLL 6.6.15 (2), (4) and (5) (Committees and delegation)15

R15

Expired15

8

COLL 6.2 (dealing); COLL 6.3 (Valuation and pricing); (Valuation) and 16 (Table: contents of the prospectus)15

R15

Expired15

9

COLL 6.2 (dealing); COLL 6.3 (Valuation and pricing); COLL 5.2.5 R (Valuation) and COLL 4.2.5 R 16 (Table: contents of the prospectus)15

G15

Expired15

10

FEES 3.2.1 R

R15

Expired15

Definition of relevant party

11

COLL15

R15

Expired15

122

COLL 10.2.1 R15

R15

Expired15

134

COLL 4.2.5 R15

R15

Expired15

714

Amendments to COLL made by the Collective Investment Schemes Sourcebook (UCITS Eligible Assets Directive and Other Amendments) Instrument 2008

R

(1) [expired]17

17

17

(2) [expired]17

17

(3) [expired]17

17

915

Amendments to COLL 5.6.3 R made by the Collective Investment Schemes Sourcebook (Amendment No 5) Instrument 2009

R

Expired15

1016

COLL 4.5 and COLL 8.3.5 R to COLL 8.3.5E R

R

Expired15

1117

COLL 4.5.5R (1)(a)(iv) and COLL 4.5.9R (9A)12

R12

Expired15

12[Note: article 118(2) of the UCITS Directive]

1118

Each and every rule in COLL that relates to key investor information12

R12

Expired15

1119

COLL 4.4.12 R

COLL 4.4.13 R

COLL 7.7.19 R12

R12

Expired15

1120

COLL 4.4.12 R

COLL 4.4.13 R

COLL 7.7.19 R12

G12

Expired15

1121

COLL 4.2.5R (3)(qa)

R

Expired15

1122

COLL 4.6.8R(8)(d)

R

Expired15

1123

COLL 5.9.3 R and COLL 5.9.5 R

R

Expired15

1124

COLL 8.3.4R (6)

R

Expired15

1325

COLL 3 to COLL 8

R

Expired15

1326

COLL 3 to COLL 8

D

Expired15

1327

COLL 3 to COLL 8

G

Expired15

1428

COLL 4.2.5 R(3)(ca)

R

Expired15

1629

Amendments to each and every rule in COLL made by the Collective Investment Schemes (Accounting Amendments) (No 2) Instrument 2015

R

[expired]17

17

17

1630

Amendments to each and every rule in COLL made by the Collective Investment Schemes (Accounting Amendments) (No 2) Instrument 2015

R

(1) [expired]17

17

17

(2) [expired]17

17

17

(3) The authorised fund manager must make a record of that election and retain it for a period of six years from the date it takes effect.

1 March 2015 until 6 years from the date the relevant election takes place

1 March 2015

1831

COLL 4.2.5R(8)(f), (g) and (h), and

COLL 4.2.5R(28)

R

[expired]20

1832

COLL 4.2.5R(8)(f) and (g)(i) and (ii)

R

(1) The authorised fund manager of a non-UCITS retail scheme need not, for any prospectus issued before 18 March 2016, comply with COLL 4.2.5R(8)(f), (g)(i) and (ii).

(2) The prospectus must, however, contain a description of the depositary’s principal business activity.

From 18 March 2016 until 31 March 2017

18 March 2016

1833

COLL 4.5.7R(7)

R

[expired]20

1834

COLL 4.7.2R(4)(a) and (6A)

R

(1) Paragraph (2) applies to any key investor information document drawn up by an authorised fund manager before 18 March 2016.

(2) The authorised fund manager need not amend the key investor information document until it is revised as a result of a subsequent revision of the key investor information falling after 18 March 2016, and only if the information required by COLL 4.7.2R(4)(a) and (6A) is available to the authorised fund manager at the time of that revision.

From 18 March 2016 until 18 March 2017

18 March 2016

1835

The changes set out in Annex F of the UCITS V Directive Instrument 2016 to COLL 6.6.4R(6) and (7), COLL 6 Annex 1R and COLL 12.3.4R(1)

R

The changes to the COLL provisions in column (2) do not apply to an EEA UCITS management company in respect of a UCITS scheme managed by it and the provisions continue to apply as they were in force at 17 March 2016.

18 March 2016 until the earlier of:

(1) the date of application of the UCITS level 2 regulation; and

(2) the date the EEA UCITS management company enters into a depositary agreement in respect of the scheme that is compliant with the terms of the UCITS level 2 regulation

18 March 2016

1836

COLL 6.6A.8R

R

A management company may continue to retain a depositary that does not meet the requirements in COLL 6.6A.8R if the depositary was appointed before 18 March 2016.

From 18 March 2016 until 18 March 2018

18 March 2016

1837

COLL 6.6B.8R and COLL 6.6B.11R

A depositary that does not meet the requirements in COLL 6.6B.8R and COLL 6.6B.11R may continue to act as depositary of a UCITS scheme if it was appointed before 18 March 2016.

From 18 March 2016 until 18 March 2018

18 March 2016

1938

COLL 4.2.5AG

G

An authorised fund manager of a UCITS scheme or a non-UCITS retail scheme does not need to comply with the provisions of the Securities Financing Transactions Regulation referred to in COLL 4.2.5AG for:

From 23 September 2016 until 12 July 2017

23 September 2016

19(1) a sub-fund that was constituted before 12 January 2016 if the scheme is an umbrella; and

19(2) a scheme that was constituted before 12 January 2016, if the scheme is not an umbrella.

19[Note: article 33(2)(c) of the Securities Financing Transactions Regulation]

1939

COLL 8.3.4AG

G

19An authorised fund manager of a qualified investor scheme does not need to comply with the provisions of the Securities Financing Transactions Regulation referred to in COLL 8.3.4AG for:

From 23 September 2016 until 12 July 2017

23 September 2016

19(1) a sub-fund that was constituted before 12 January 2016 if the scheme is an umbrella; and

19(2) a scheme that was constituted before 12 January 2016, if the scheme is not an umbrella.

19[Note: article 33(2)(c) of the Securities Financing Transactions Regulation]

2040

COLL 3.2.6R(8) and COLL 5.2.12R(3)(d)

R

An authorised fund manager is not required to update existing statements in the instrument constituting the fund concerning use of the derogation at COLL 5.2.12R(3) due to the amendments to the following provisions by the Collective Investment Schemes Sourcebook (Amendment No 9) Instrument 2016 until it is updated for other purposes:

(a) COLL 3.2.6R(8) and

(b) COLL 5.2.12R (3)(d).

From 1 October 2016 to 30 September 2019

From 1 October 2016

2041

COLL 3.2.6R(15)

R

An authorised fund manager is not required to update the instrument constituting the fund due to the amendment to COLL 3.2.6R(15) until it is updated for other purposes.

From 1 October 2016 to 30 September 2019

From 1 October 2016

2042

COLL 4.2.5R(3)(i) and

COLL 5.2.12R(3)(d).

R

An authorised fund manager is not required to update existing statements in the prospectus concerning use of the derogation under COLL 5.2.12R(3) due to the amendments to the following provisions by the Collective Investment Schemes Sourcebook (Amendment No 9) Instrument 2016 until it is updated for other purposes:

(a) COLL 4.2.5R(3)(i) (subject to COLL TP1.1 (43)) and

(b) COLL 5.2.12R(3)(d).

From 1 October 2016 to 30 September 2017

From 1 October 2016

2043

COLL 4.2.5R(3)(i), COLL 5.6.7R(1), COLL 5.6.8R, and COLL 5.7.5R

R

An authorised fund manager of a non-UCITS retail scheme is not required to comply with the amendments to the rules in column (2) in relation to government and public securities made by the Collective Investment Schemes Sourcebook (Amendment No 9) Instrument 2016.

From 1 October 2016 to 30 September 2017

From 1 October 2016

2044

COLL 4.2.2R, COLL 4.2.5R, and COLL 4.2.6G.

R

An authorised fund manager is not required to update the prospectus due to the amendments to the following provisions by the Collective Investment Schemes Sourcebook (Amendment No 9) Instrument 2016 until it is updated for other purposes:

(a) COLL 4.2.2R(2)(aa)

(b) COLL 4.2.5R(2)(aa);

(c) COLL 4.2.5R(2B)(b);

(d) COLL 4.2.5R(5)(b);

(e) COLL 4.2.5R(16)(b)(v);

(f) COLL 4.2.5R(18)(b)(i);

(g) COLL 4.2.5R(19);

(h) COLL 4.2.5R(20); and

(i) COLL 4.2.6G(7)(a).

From 1 October 2016 to 30 September 2017

From 1 October 2016

2045

COLL 8.3.2R and COLL 8.3.4R

R

An authorised fund manager is not required to update the prospectus due to the amendments to the following provisions by the Collective Investment Schemes Sourcebook (Amendment No 9) Instrument 2016 until it is updated for other purposes:

(a) COLL 8.3.2R(1A);

(b) COLL 8.3.4R(2)(1A);

(c) COLL 8.3.4R(14)(3); and

(d) COLL 8.3.4R(17)(6).

From 1 October 2016 to 30 September 2017

From 1 October 2016

2146

The rules and guidance in COLL that relate to a NURS-KII document.

R

An authorised fund manager of a non-UCITS retail scheme and an ICVC that is a non-UCITS retail scheme may comply with the provisions in column (2) using a key investor information document (as modified by a general direction from the FCA) created before 1 January 2018 if it:

(1) had dispensation from the FCA through a modification by consent to market units of the non-UCITS retail scheme using that document until 1 January 2018; and

(2) decides to draw up a NURS-KII document, instead of a key information document, in accordance with COLL 4.7 after 1 January 2018.

From 1 January 2018 until 19 February 2018

1 January 2018

2247

COLL 4.3.4R(2); COLL 4.3.6R(2); COLL 8.3.6R(1) and (2)

R

A new type of payment out of scheme property, which is introduced by a firm to facilitate the operation of a research payment account under COBS 2.3B.3R(2), does not constitute a fundamental change under COLL 4.3.4R(2) or COLL 8.3.6R(1) requiring prior approval by meeting. Such a change will however constitute a significant change under COLL 4.3.6R(2) and COLL 8.3.6R(2) requiring pre-event notification.

From 3 January 2018 until 3 January 2020

3 January 2018