Disapplication of Legislation

Paragraphs 1-2 of section 1.iii (Borrowing powers) of Part I of the Retail Investor AIF chapter specify the extent of the disapplication by the Central Bank of Section 13(2)(a) and Section 13(2)(c) of the Unit Trusts Act 1990, in accordance with its powers under Section 13(3) of that Act.

Paragraphs 1 and 2 of section 1.xii (Dealings by management company, general partner, depositary, AIFM, investment manager or by delegates or group companies of these) of Part I of the Retail Investor AIF chapter and paragraphs 1 and 2 of section 1.viii (Dealings by management company, general partner, depositary, AIFM, investment manager or by delegates or group companies of these) of Part I of the Qualifying Investor AIF chapter specify the extent of the disapplication by the Central Bank of Section 13(1) of the Unit Trusts Act 1990, in accordance with its powers under Section 13(3) of that Act and of Section 15(1) of the Investment Funds Act 2005 in accordance with its powers under that Section.

See also paragraph 5 of section vi (Closed-ended Retail Investor AIFs) of the topic titled ‘Application process for Retail Investor AIF’.

The Central Bank exempts an investment limited partnership from the provisions of the European Communities (Accounts) Regulations, 1993 where its sole business is the investment of its funds in property with the aim of spreading investment risk and giving its partners the benefit of the management of its assets.

Section 3.i (General requirements) of Part II of the Qualifying Investor AIF chapter specifies the extent of the disapplication by the Central Bank of Section 12(1) of the Unit Trusts Act 1990, Section 1386(1)(b)(ii) of the Companies Act 2014, and Section 14(1) of the Investment Funds Act 2005, in accordance with its powers under Section 12(2) of the Unit Trusts Act 1990, Section 1386(2) of the Companies Act 2014, and Section 14(2) of the Investment Funds Act 2005.

Issued: 3 July 2013
Latest revision: 3 July 2013