(1) In relation to a stand-alone scheme, the appropriate conditions referred to in paragraph 62 are -

(a) that the operator of the stand-alone scheme has before IP completion day notified the FCA in accordance with regulation 64 that it wishes the scheme to be treated in accordance with regulation 62, and

(b) that immediately before IP completion day the stand-alone scheme is an EEA UCITS which is a recognised scheme by virtue of section 264 [Section 264 was amended by S.I. 2011/1613, S.I. 2012/2015 and Schedule 18 to the Financial Services Act 2012.] of the 2000 Act.

(2) In relation to a sub-fund which is authorised by its home state regulator before IP completion day, the appropriate conditions referred to in paragraph 62 are -

(a) that the operator of the sub-fund has before IP completion day notified the FCA in accordance with regulation 64 that it wishes the sub-fund to be treated in accordance with regulation 62, and