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ARTICLE · 30 JANUARY 2017

Amendments To AIF Rulebook And UCITS Regulations

Mason Hayes & Curran LLP
Mason Hayes & Curran LLP
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Mason Hayes & Curran LLP

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The Central Bank recently issued amendments to its AIF Rulebook and also published its Feedback Statement on amendments to the Central Bank UCITS Regulations.

IrelandFinance and Banking
Fionán Breathnach
Fionán Breathnach
Rowena Fitzgerald
Rowena Fitzgerald
Conor Durkin
Conor Durkin
Liane Müllers
Liane Müllers
Sarah Cloonan
Sarah Cloonan
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The Central Bank recently issued amendments to its AIF Rulebook and also published its Feedback Statement on amendments to the Central Bank UCITS Regulations. We take a closer look at these amendments.

AMENDMENTS TO THE AIF RULEBOOK

L-QIAIFs

In November 2016, the Central Bank of Ireland (the "Central Bank") announced that it would be amending the AIF Rulebook to change the requirements applying to loan originating qualifying investor alternative investment funds ("L-QIAIFs"). The Central Bank issued the amended AIF Rulebook on 3 January 2017.

Prior to this amendment, L-QIAIFs were prohibited from engaging in activities other than lending and certain related operations. The revised AIF Rulebook now provides that L-QIAIFs are permitted to deal in investments connected to the loan origination strategy. This includes investing in debt and equity securities of entities or groups to which the L-QIAIF lends or which are held for treasury, cash management or hedging

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