Process For The Authorisation Of A UCITS

Authorisation, Supervision and Fund Documents

The Central Bank is the regulatory authority responsible for the authorisation and supervision of all regulated investment funds in Ireland. In order for a UCITS to be authorised by the Central Bank various fund documents need to be put in place which meet the Central Bank's requirements. Some of these fund documents are reviewed by the Central Bank in advance of the final application being made for authorisation of the UCITS. The principal document which is reviewed by the Central Bank in advance of the UCITS authorisation is the prospectus. Other fund documents (such as the depositary, investment management, distribution and administration agreements, and the risk management process) are not reviewed by the Central Bank but executed versions of the agreements are filed with the Central Bank for noting on the day the filing is made seeking authorisation of the UCITS.