Regulatory Requirements and Guidance

The Central Bank is the registrar for ICAVs. ICAVs which are AIFs will be authorised by the Central Bank under the Irish Collective Asset-management Vehicles Act 2015. ICAVs which are UCITS will be authorised by the Central Bank under the European Communities (UCITS) Regulations 2011. 

Individuals Connected to Irish Collective Asset-management Vehicles (ICAVs) (Including Directors & Secretaries (in case of an individual acting as Secretary))

The Central Bank processes personal data of individuals such as directors and secretaries (in case of an individual acting as secretary) of ICAVs in connection with its registration of ICAVs pursuant to the Irish Collective Asset-management Vehicles (ICAV) Act 2015 (the “Act”). The Central Bank publishes personal data where mandated by legislation.

Section 14(1) of the Act provides for the information that must be entered on a register of registered ICAVs for each person named as being one of the first directors of an ICAV. Section 65(2) of the Act specifies particulars including inter alia present forename, surname, date of birth and residential address.

Pursuant to Section 14(2) of the Act the Central Bank is required to keep the register up-to-date so that it reflects inter alia changes in the persons who are directors of the ICAV.

Section 14(3) of the Act provides that the register of registered ICAVs shall be kept in such form as the Bank considers appropriate and shall be made available for inspection free of charge on a website maintained or used by the Central Bank.

The Central Bank retains such data for as long as needed for the specific purposes for which it is collected.