Regulation 4

Amendment to the Act

1. In section 418(5B) of the Act (carrying on regulated activities in the United Kingdom) [Inserted by paragraph 1 of Schedule 1 to these Regulations], omit paragraph (c).

Amendment to the Regulated Activities Order

2. In Schedule 8 to the Regulated Activities Order (persons excluded from regulated activity of managing an AIF), omit paragraph 11 [Inserted by paragraph 1(17) of Schedule 2 to the principal regulations and amended by regulation 81 of the principal regulations].

Amendments to the principal regulations

3.

(1) The principal regulations [Amended by paragraph 2 of Schedule 1 to these Regulations] are amended as follows.

(2) In regulation 2(1) (interpretation) -

(a) in the definition of "external valuer" omit "other than an AIF that is marketed only pursuant to regulation 59 of these Regulations".