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Amendments of UCITS Regulations
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187. The UCITS Regulations are amended—
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(a) in Regulation 3(1) —
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(i) by inserting the following definitions:
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“ ‘Act of 2015’ means the Irish Collective Asset-management Vehicles Act 2015;”, and
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“ ‘ICAV’ means an ICAV within the meaning of the Act of 2015;”,
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(ii) in the definition of “articles”, by inserting “and, in relation to an ICAV, means its instrument of incorporation within the meaning of the Act of 2015” at the end,
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(iii) in the definition of “directors”, by inserting “and includes directors and shadow directors of an ICAV” at the end, and
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(iv) by substituting for the definition of “investment company” the following:
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“ ‘investment company’ means—
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(a) an investment company with fixed capital,
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(b) an investment company with variable capital, or
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(c) except in Regulations 45, 89(4)(a) and 107, an ICAV;”,
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and
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(b) in Regulation 4(6) by—
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(i) deleting “or” after subparagraph (c), and
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(ii) substituting the following for subparagraph (d):
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“(d) common contractual funds, or
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(e) Irish collective asset-management vehicles.”.
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