FUND TP 1 Transitional Provisions
1(1) |
(2) |
(3) |
(4) |
(5) |
(6) |
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Material to which the transitional provision applies |
Transitional provision |
Transitional provision: date in force |
Handbook provisions: coming into force |
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1 [FCA] |
R |
A credit institution established in the UK and appointed as a depositary of an EEA AIF managed by a full-scope UK AIFM or a full-scope EEA AIFM in accordance with article 61(5) of AIFMD must comply with the provisions of FUND 3.11 that apply to a UK depositary of a UK AIF managed by a full-scope UK AIFM or an EEA AIFM. |
From 22 July 2013 until 22 July 2017. |
22 July 20132 |
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21A |
R |
An AIFM that appoints a depositary in accordance with article 61(5) of AIFMD must ensure the assets of the AIF are entrusted to the depositary for safekeeping in accordance with the national laws and regulations of the EEA State of the competent authority of the depositary (as defined in article 4(1)(g) of AIFMD). |
From 1 July 2014 until 22 July 2017. |
1 July 2014 |
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2 [FCA] |
R |
An AIFM may ensure the appointment of a credit institution that is established in an EEA State other than the UK for each UK AIF it manages that is an unauthorised AIF. |
From 22 July 2013 until 22 July 2017. |
22 July 2013 |
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3 [FCA] |
R |
An AIFM may ensure the appointment of a depositary in line with FUND 3.11.2 R of a firm that does not have a Part 4A permission of acting as trustee or depositary of an AIF. |
From 22 July 2013 until 21 July 2014. |
22 July 2013 |
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4 [FCA] |
R |
An AIFM may ensure the appointment of a depositary that is a credit institution established in an EEA State other than the Home State of the AIF for each EEA AIF it manages if this is permitted by the laws and regulations of the Home State of the AIF. |
From 22 July 2013 until 22 July 2017. |
22 July 2013 |
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5 [FCA] |
R |
An AIFM may ensure the duties referred to in FUND 3.11.20 R, FUND 3.11.21 R, FUND 3.11.23 R and FUND 3.11.25 R are carried out in relation to that AIF by one or more firms that do not have a Part 4A permission of acting as trustee or depositary of an AIF. |
From 22 July 2013 until 21 July 2014. |
22 July 2013 |
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