1. An alternative investment fund manager (AIFM) that meets the conditions provided for in regulation 9 of the Alternative Investment Fund Managers Regulations 2013 [Regulation 5 was amended by S.I 2013/1797, and is amended by these Regulations.] (the "AIFM Regulations 2013") and chooses to opt in to regulation as a full-scope AIFM shall submit an application for authorisation to the Financial Conduct Authority.

The application shall follow the same procedure provided for in section 55U of the Financial Services and Markets Act 2000 [Section 55U was inserted into the Act, with the rest of Part 4A of that Act, by section 11(2) of the Financial Services Act 2012 (c.21).] ("FSMA") and regulation 5 of the AIFM Regulations 2013.