Applications for authorisation

Introduction

1. An application for authorisation as a fund management company [Fund management company means a UCITS fund management company, an authorised AIFM, a UCITS self-managed investment company or an internally managed alternative investment fund.] should be made by submitting:

(a) a completed application form signed by two directors of the applicant fund management company;

(b) completed individual questionnaires (IQs) in respect of:

• each director and senior manager; and

• any natural person with a qualifying holding in the fund management company as defined by the respective regulations.

(c) a bespoke and detailed business plan [In this guidance, "business plan" refers to a business plan for a UCITS management company or programme of activity for an AIFM.] that takes account of the requirements of Regulation 18 of the UCITS Regulations [European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2011] and/or Regulation 8 of the AIFM Regulations [European Union (Alternative Investment Fund Managers) Regulations 2013]. The business plan should accurately reflect current activities and procedures. Generic wording should be avoided.