(1) This regulation applies to an AIFM in so far as immediately before 22nd July 2013 it manages an AIF that -
(a) is closed-ended; and
(b) makes no additional investments after 22nd July 2013.
(2)Notwithstanding regulation 72(3), the AIFM need not apply for -
(a) permission under Part 4A of the Act to manage that AIF; or
(b) registration as a small registered UK AIFM in respect of that AIF.
(3) The AIFM need not comply with the implementing provisions in respect of that AIF.
(4) If the AIFM is given a Part 4A permission to carry on the regulated activity of managing an AIF, article 72AA of the Regulated Activities Order (managers of UCITS and AIFs) [Article 72AA of the Regulated Activities Order was inserted by S.I. 2013/1773.] does not apply in respect of the AIFM's management of the AIF referred to in paragraph (1).
(5) If, at the same time that the AIFM is given a Part 4A permission to manage an AIF, the AIFM's Part 4A permission is also varied by the removal from the regulated act
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