GENPRU TP 16 AIFMD

1Application

16.1

R

GENPRU TP 16 applies to a collective portfolio management investment firm.

Duration of transitional

16.2

R

GENPRU TP 16.4 applies from 22 July 2013 until 21 July 2014.

16.3

R

GENPRU TP 16.5 applies from 22 July 2013.

Transitional provision

16.4

R

(1)

Where a firm meets the conditions in (2), the changes effected by Annex G of the Alternative Investment Fund Managers Directive Instrument 2013 do not apply and, therefore, the provisions in GENPRU amended by that Annex will continue to apply as they were in force as at 21 July 2013.

(2)

The conditions referred to in (1) are:

(a)

the firm falls within regulation 72(1) of the AIFMD UK regulation; and

(b)

the firm does not have a Part 4A permission to manage an AIF.

16.5

R

Where a firm falls within regulation 74(1) or 75(1) of the AIFMD UK regulation it need not include AIFs managed by it that fall within those regulations in the calculation of its funds under management requirement, professional negligence capital requirement or PII excess capital requirement.