(1) Without prejudice to Regulations 38, 40 and 41, a non-EU AIFM may market to professional investors in the State units or shares of alternative investment funds it manages subject to the following conditions being met:
(a) the non-EU AIFM complies with Regulations 23, 24 and 25 in respect of each AIF marketed by it pursuant to this Regulation and with Regulations 27 to 31 where an AIF marketed by it pursuant to this Regulation falls within the scope of Regulation 27(1);
(b) appropriate cooperation arrangements for the purpose of systemic risk oversight and in line with international standards are in place between the Bank, in so far as applicable, the competent authorities of the EU alternative investment funds concerned and the supervisory authorities of the third country where the non-EU AIFM is established and, in so far as applicable, the supervisory authorities of the third country where the non-EU AIF is established in order to ensure an efficient exchange of information that
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