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  1. Alternative Investment Fund Managers Regulations 2013 (AIFM Regulations) [SI 2013 No. 1773]
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Version status: In force | Document consolidation status: Updated to reflect all known changes
Published date: 16 July 2013

Alternative Investment Fund Managers Regulations 2013 (AIFM Regulations) [SI 2013 No. 1773]

Consolidation Status: Updated to reflect all known changes

To be revoked by s. 1 and Sch. 1 Pt 2 to the Financial Services and Markets Act 2023 (c. 29) (FSMA 2023), Sch. 1 Pt 2 not yet fully commenced.

Comparing proposed amendment...
Introductory Text
Part 1 Introductory provisions (regs. 1-4)
In force
 Regulation 1 Citation and commencement
Partly in force
⚠ Regulation 2 Interpretation
In force
 Regulation 3 Meaning of "AIF"
In force
 Regulation 4 Meaning of "AIFM", "managing an AIF", "external AIFM" and "internal AIFM"
Part 2 Authorisation of full-scope UK AIFMs (regs. 5-8)
In force
⚠ Regulation 5 Applications for Part 4A permission
Not yet in force
⚠ Regulation 5A Applications by AIFMs from third countries
In force
 Regulation 6 Supplementary provisions about AIFMs
In force
 Regulation 7 Changes in conditions relevant to authorisation
Omitted
 Regulation 8 Notification to ESMA
Part 3 Small AIFMs (regs. 9-23)
In force
 Regulation 9 Meaning of "small AIFM"
In force
⚠ Regulation 10 Small registered UK AIFMs
In force
 Regulation 11 Applications for entry on register of small registered UK AIFMs
In force
 Regulation 12 Determination of applications
In force
 Regulation 13 Procedure when refusing an application
Omitted
 Regulation 14 Notification of new funds under the EuSEF Regulation or the EuVECA Regulation
In force
 Regulation 15 Small registered AIFMs ceasing to meet the requirements for registration
In force
 Regulation 16 Applications for revocation of registration
In force
 Regulation 17 Grounds for revocation of registration
In force
 Regulation 18 Procedure on revocation
In force
 Regulation 19 Grounds for suspension of registration
In force
 Regulation 20 Procedure on suspension
In force
 Regulation 21 Disclosure obligations of small registered UK AIFMs
In force
 Regulation 22 Power to direct small registered UK AIFMs and SEF and RVECA Managers to take appropriate measures
In force
 Regulation 23 Application of FCA rules to small authorised UK AIFMs
Part 3A LTIFs (regs. 23A-23C)
Omitted
 Regulation 23A Manner of application for UK LTIF authorisation
Omitted
 Regulation 23B Procedure in relation to the refusal of an application for UK LTIF authorisation
Omitted
 Regulation 23C Procedure in relation to the revocation of UK LTIF authorisation otherwise than by consent
Part 3B Qualifying social entrepreneurship funds and qualifying venture capital funds (regs. 23D-23F)
In force
 Regulation 23D Manner of application for registration of a qualifying social entrepreneurship fund or qualifying venture capital fund
In force
 Regulation 23E Procedure in relation to the refusal of an application for registration of a qualifying social entrepreneurship fund or qualifying venture capital fund
In force
 Regulation 23F Procedure in relation to the revocation of registration of a qualifying social entrepreneurship fund or qualifying venture capital fund otherwise than by consent
Part 3C MMFs (regs. 23G-23I)
In force
 Regulation 23G Manner of application for MMF authorisation
In force
 Regulation 23H Procedure in relation to the refusal of an application for MMF authorisation
In force
 Regulation 23I Procedure in relation to the revocation of MMF authorisation otherwise than by consent
Part 4 Operating conditions for external valuers, full-scope AIFMs and depositaries (regs. 24-33)
In force
 Regulation 24 Valuation
In force
 Regulation 25 Disqualification of external valuer
In force
 Regulation 26 Approval for delegation of functions by full-scope UK AIFMs
In force
 Regulation 27 Revocation of approval for delegation
In force
 Regulation 28 Liability following delegation
In force
⚠ Regulation 29 Depositary liability: general provisions
In force
 Regulation 30 Depositary liability for loss of financial instruments held in custody
In force
 Regulation 31 Depositary liability for other losses
In force
 Regulation 32 Depositary liability and third country custodians
In force
⚠ Regulation 33 Management of third country AIFs
Part 5 AIFs which acquire control of non-listed companies and issuers (regs. 34-44)
In force
⚠ Regulation 34 Introductory provision
In force
 Regulation 35 Ways of acquiring control or shares
In force
 Regulation 36 Meaning of "control" and calculation of voting rights
In force
 Regulation 37 Confidential information
In force
 Regulation 38 Notification of the acquisition or disposal of major holdings and control of non-listed companies
In force
 Regulation 39 Disclosure in case of acquisition of control
In force
 Regulation 40 Additional disclosure when control is acquired of non-listed companies
In force
 Regulation 41 Sensitive information
In force
 Regulation 42 Annual report of AIFs exercising control of non-listed companies
In force
 Regulation 43 Asset stripping
In force
 Regulation 44 FCA powers in relation to this Part
Part 6 Marketing of AIFs (regs. 45-64)
Chapter 1 General Provisions (regs. 45-53)
In force
 Regulation 45 References in this Part to an AIFM or an investment firm marketing an AIF
In force
 Regulation 46 Application of the financial promotion and scheme promotion restrictions
In force
 Regulation 47 Marketing at the initiative of the investor
In force
 Regulation 48 Marketing under the designation 'SEF' or 'RVECA'
In force
⚠ Regulation 49 Marketing by full-scope Gibraltar AIFMs of certain AIFs
In force
⚠ Regulation 50 Marketing by AIFMs of other AIFs
In force
 Regulation 51 Marketing of AIFs by investment firms
In force
 Regulation 52 Contravention by unauthorised person
In force
 Regulation 53 Contravention by authorised person
Chapter 2 Marketing of AIFs by full-scope AIFMs (regs. 54-56C)
In force
⚠ Regulation 54 FCA approval for marketing
In force
 Regulation 55 Change to information provided with application
In force
⚠ Regulation 56 Suspension or revocation of approval granted to a full-scope Gibraltar AIFM
Not yet in force
⚠ Regulation 56A Revocation of approval to market
Not yet in force
⚠ Regulation 56B Suspension of approval to market
Not yet in force
⚠ Regulation 56C Procedure on suspension
⚠ Chapter 3 National Private Placement (regs. 57-64)
In force
⚠ Regulation 57 Marketing of third country AIFs managed by full-scope UK AIFMs
In force
⚠ Regulation 58 Marketing of AIFs managed by small third country AIFMs
In force
⚠ Regulation 59 Marketing of AIFs managed by other third country AIFMs
In force
⚠ Regulation 60 Manner and content of notifications
In force
⚠ Regulation 61 Material change to information
In force
⚠ Regulation 62 Revocation of entitlement to market
In force
⚠ Regulation 63 Suspension of entitlement to market
In force
⚠ Regulation 64 Procedure on suspension
Part 7 Duties and powers of the FCA (regs. 65-69)
In force
 Regulation 65 Designation as competent authority
Omitted
 Regulation 66 Requirement to notify ESMA of information required from AIFMs
In force
 Regulation 67 Use of information by FCA
In force
 Regulation 68 Limits on leverage
Omitted
 Regulation 69 Exchange of information relating to potential systemic consequences of AIFM activity
Part 7A Transfer of functions (reg. 69A)
In force
 Regulation 69A Transfer of the directive functions
Part 8 Application of provisions of the Act (regs. 70-71)
In force
 Regulation 70 Application of procedural provisions of the Act
In force
⚠ Regulation 71 Application of provisions of the Act to unauthorised AIFMs
Part 9 Transitional Provisions (regs. 72-78)
In force
 Regulation 72 AIFMs managing AIFs immediately before 22nd July 2013
In force
 Regulation 73 AIFs subject to prospectus directive
In force
 Regulation 74 Closed-ended AIFs that make no additional investments
In force
 Regulation 75 Closed-ended AIFs whose subscription period has closed
In force
 Regulation 76 Permission to act as trustee or depositary of an AIF
In force
 Regulation 77 Depositaries of EEA AIFs until 22nd July 2017
In force
 Regulation 78 Permission for existing managers, depositaries and trustees of UCITS
Part 9A Temporary Marketing Provisions (regs. 78A-78E)
In force
 Regulation 78A Temporary marketing permissions: AIFs etc
In force
 Regulation 78B Deemed authorisation
In force
 Regulation 78C Period during which regulation 78A(1) is to apply
In force
 Regulation 78D FCA powers
In force
 Regulation 78E Power to extend the period during which a fund may be marketed
Part 10 Final provisions (regs. 79-81)
Revoked
 Regulation 79 Review
In force
 Regulation 80 Amendments to primary legislation
In force
 Regulation 81 Amendments to secondary legislation
Schedule 1 Amendments to Primary Legislation
In force
 Schedule 1, Part 1 Amendments to the Financial Services and Markets Act 2000 (paras. 1-36)
In force
 Schedule 1, Part 2 Amendments to other primary legislation (paras. 37-44)
In force
 Schedule 1, Part 3 Transitional provisions in respect of recognised overseas schemes (para. 45)
Schedule A1 Transfer of Functions to the Treasury and the FCA
In force
 Schedule A1, Part 1 Directive functions transferred to the Treasury (paras. 1-25)
In force
 Schedule A1, Part 2 Directive functions transferred to the FCA (para. 26)
In force
 Schedule A1, Part 3 Powers to make technical standards transferred to the FCA (paras. 27-31)
Schedule 2 Amendments to Secondary Legislation
In force
 Schedule 2, Part 1 Amendments to the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (para. 1)
In force
 Schedule 2, Part 2 Amendments to other secondary legislation (paras. 2-24)
Signature
Explanatory Note
Explanatory Memorandum
Impact Assessment
Transposition table for UK implementation of the AIFMD
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