IRELAND: CBI Updates AIFMD Questions and Answers

Friday June 25 2021

On 24 June, the Central Bank issued the 39th edition of the Central Bank AIFMD Q&A, which updates QAs ID 1021 and ID 1136 and includes two new Q&As, ID1143 and ID1144.QA ID 1021 has been updated generally and to clarify the extent to which an Irish entity can perform duties for non-EU AIFs pursuant to Article 36(1)(a) of the AIFMD. QA ID 1136 updates the types of AIF for which a Depositary of Assets other than Financial Instruments (DAoFI) can act.

New QA, ID 1143, outlines the circumstances in which a DAoFI can accept an appointment from a non-EU AIFs pursuant to Article 36(1)(a) of the AIFMD to perform the duties set out in Article 21(7)-(9) of the AIFMD.

QA ID 1144 confirms the Central Bank’s position in relation to AIFs having a share class that makes distributions to charity. The Q&A confirms that this is permissible, subject to a number of conditions being met by the AIF.

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