GEN TP 3 Transitional Provision in relation to the Alternative Investment Fund Managers Directive Instrument 2013
Table: 1 Transitional Provisions applying across the FCA Handbook
1(1) |
On 22 July 2013, the Alternative Investment Fund Managers Directive Instrument 2013 came into force. This instrument transposed provisions contained in the AIFMD into UK national law through provisions in the FCA Handbook. |
(2) |
The entry into force of the Alternative Investment Fund Managers Directive Instrument 2013 requires a number of further consequential changes to be made to the FCA Handbook. These will be made in due course. |
(3) |
Until that time, all provisions in the FCA Handbook must be interpreted in the light of the amendments made to the FCA Handbook by the Alternative Investment Fund Managers Directive Instrument 2013, unless the context requires otherwise. This is necessary to comply with the rule in GEN 2.2.1 R. It should achieve the result that most people would probably expect to apply in any event. |
Table: 2 Transitional Provision applying across the FCA and PRA Handbooks
(1) |
(2) Material to which the transitional provision applies |
(3) |
(4) Transitional provision |
(5) Transitional provision: dates in force |
(6) Handbook provision: coming into force |
1 |
Every provision in the FCA Handbook, unless the context requires otherwise |
R |
All provisions in the FCA Handbook must be interpreted as far as possible in a manner giving effect to, or achieving the purpose of, the amendments made to the FCA Handbook by the Alternative Investment Fund Managers Directive Instrument 2013 (so far as the context permits and according to the context). |
From 22 July 2013 until 21 July 2014 |
22 July 2013 |
2 |
Paragraph 1 |
G |
For example, where a provision of the FCA Handbook refers (or is to be read as referring) to a provision or a Glossary term which was replaced by the Alternative Investment Fund Managers Directive Instrument 2013 with a provision(s) or Glossary term(s) relating to substantially the same subject matter, the provision making the reference should be read, so far as the context permits, as if it was referring to the replacement provision(s) or Glossary term(s). |
From 22 July 2013 until 21 July 2014 |
22 July 2013 |
3 |
Amendments made to the FCA Handbook by the Alternative Investment Fund Managers Directive Instrument 2013 |
R |
References to the "EEA" must be read as references to the "EU". |
From 22 July 2013 until such time as AIFMD is annexed to the EEA Agreement in accordance with article 102 of the EEA Agreement |
22 July 2013 |