CP12/32: Implementation of the Alternative ... - BVCA admin
CP12/32: Implementation of the Alternative ... - BVCA admin
CP12/32: Implementation of the Alternative ... - BVCA admin
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Annex F<br />
Amendments to <strong>the</strong> Interim Prudential sourcebook for Investment Business<br />
(IPRU(INV))<br />
In this Annex new text is underlined and struck though text is deleted unless o<strong>the</strong>rwise<br />
indicated.<br />
5 Chapter 5: Financial Resources<br />
...<br />
5.2.3(2) R ...<br />
5.2.3(3)<br />
(a)<br />
Exceptions from <strong>the</strong> liquid capital requirement<br />
(ii) ...<br />
Page 64 <strong>of</strong> 91<br />
Appendix 1<br />
(c) <strong>the</strong> firm is a trustee <strong>of</strong> an authorised unit trust scheme whose<br />
permitted business consists only <strong>of</strong> trustee activities and does<br />
not include any o<strong>the</strong>r activity constituting specified trustee<br />
business or <strong>the</strong> firm is a depositary <strong>of</strong> an ICVC or a PE AIF<br />
depositary whose permitted business consists only <strong>of</strong><br />
depositary activities.<br />
...<br />
Own funds requirement<br />
R The own funds requirement for a firm subject to rule 5.2.3(2) is:<br />
(i) £4,000,000 for a firm which is a trustee <strong>of</strong> an authorised unit trust<br />
scheme or a depositary <strong>of</strong> an ICVC;<br />
(ia) €125,000 for firm which is a PE AIF depositary; and<br />
(ii) £5,000 for any o<strong>the</strong>r firm.
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