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Amendment of section 1035A (relieving provision to section 1035) of Principal Act.
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32.— (1) Section 1035A of the Principal Act is amended in subsection (1)—
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(a) in the definition of “ authorised agent ” in paragraph (a)(ii) by substituting “revoked,” for “revoked, or”, in paragraph (b) by substituting “revoked, or” for “revoked,” and by inserting the following paragraph after paragraph (b):
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“(c) a company—
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(i) authorised under any laws of the State that implement the relevant Directives, and
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(ii) which carries on a trade which consists of or includes the management of unit trusts, common contractual funds or investment companies, or any combination thereof, each of which is a relevant UCITS,”,
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(b) in the definition of “investment business services” by substituting “1995;” for “1995.”, and
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(c) after the definition of “investment business services” by inserting the following:
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“ ‘relevant Directives’ means Directive 2009/65/EC of the European Parliament and of the Council of 13 July 2009 3
on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS), and any Directive amending that Directive;
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‘relevant UCITS’ means an undertaking for collective investment in transferable securities—
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(i) to which the relevant Directives apply, and
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(ii) which is formed under the laws of any of the Member States of the European Union other than the State.”.
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(2) This section comes into operation on the passing of this Act.
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3 OJ No. L302 of 17 November 2009, p.32 |
