CP12/32: Implementation of the Alternative ... - BVCA admin

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Page 41 of 91
Appendix 1
(e) (in relation to an AIF other than an ICVC or an
AUT) the person fulfilling the function of a
depositary in accordance with article 21(1) of
AIFMD or, in respect of a non-EEA AIF, in
accordance with FUND 3.11.30R(1)(a) (AIFM
of a non-EEA AIF).
EEA firm (in accordance with paragraph 5 of Schedule 3 to the Act (EEA
Passport Rights)) any of the following, if it does not have its
relevant office in the United Kingdom:
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(hh) an AIFM which is authorised (within the meaning of
article 8 of AIFMD) by its Home State regulator;
in this definition, relevant office means:
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fixed overheads requirement (1) (in GENPRU) the part of the capital resources
requirement calculated in accordance with GENPRU
2.1.53 R(Calculation of the fixed overheads
requirement).
(2) (in IPRU(INV) 7) the part of the own funds requirement
calculated in accordance with IPRU(INV) 7.3.4R
(Fixed overheads requirement).
funds under management (in UPRU IPRU(INV) and GENPRU) funds managed by the
firm, including funds where it has delegated the management
function but excluding funds that it is managing as delegate.
Home State ...
(1) collective investment schemes other than OEICs
managed by the firm including schemes where it has
delegated the management function but excluding
schemes that it is managing as delegate; and
(2) OEICs for which the firm is the designated
management company.
(13) (in relation to an AIF) the EEA State in which:
(a) the AIF is authorised or registered under
applicable national law; or
(b) if the AIF is neither authorised nor registered in
an EEA State, the EEA State in which the AIF