knowledge | 2 October 2020 |

Pre-Christmas and Year End Deadlines for Funds in 2020

The Central Bank of Ireland (“CBI”) has issued its annual letter outlining the timeframes for receipt of fund/sub-fund applications and post-authorisation amendments that have pre-Christmas or pre-year end authorisation/approval/noting deadlines.

Deadlines for receipt of complete applications to facilitate pre-Christmas and year end approvals

 

INDIVIDUAL QUESTIONNAIRE (IQ) FILINGS
IQ APPLICATION TYPE DEADLINE FOR RECEIPT
IQs related to QIAIFs 5pm on 1 December
IQs relating to Other Fund Types and Fund Service Providers 5pm on 20 November
Normal timeframes apply until 20 November

 

UCITS AND RIAIF FUND/POST AUTHORISATION APPLICATIONS
Funds and non-fast-track sub-funds (this deadline also applies to self-managed/internally managed investment company/ICAV applications) 5pm on 16 October
Fast-track sub-funds1 5pm on 13 November
Post-Authorisation – major items 5pm on 16 October
Post-Authorisation – all other items 5pm on 13 November

 

QIAIF FILINGS (submitted through ORION)
FOR AUTHORISATION /APPROVAL / NOTING ON: DEADLINE FOR RECEIPT
23 December 5pm on 22 December
29 December2 3pm on 23 December
4 January3 5pm on 30 December
Normal timeframes apply until 22 December

 

QIAIF FILINGS (non-ORION based application)
FOR AUTHORISATION /APPROVAL / NOTING ON: DEADLINE FOR RECEIPT
23 and 24 December 3pm on 22 December
29 December 3pm on 23 December
4 January 3pm on 30 December
Normal timeframes apply until 22 December

 

Other Deadlines:

  • QIAIF change of service provider filings with an effective date between 29 December 2020 and 1 January 2021 – 5pm on 15 December;
  • Investment Manager Applications – 5pm on 13 November; and
  • ICAV registration/conversion/migration applications – 5pm on 1 December.
  • UCITS and RIAIF authorisations/approvals/notings required on:
    • 24 and/or 29 December – executed documentation must be received by 12pm on 23 December;
    • 4 January – executed documentation must be received by 3pm on 30 December.
  • Funds seeking to revoke their authorisation at end December 2020 must submit a complete revocation application, including payment of the funding levy, by 5pm on 4 December.

  1. The CBI has indicated that the only funds that are acceptable under the fast track process are either: (i) clones of funds recently approved by the CBI; or (ii) non-complex funds (i.e. plain vanilla equity funds which do not use derivatives).
  2. 29 December is the first day after Christmas that funds may be authorised
  3. 4 January is the first day in 2021 that funds may be authorised

This briefing is for general guidance only and should not be regarded as a substitute for professional advice. Such advice should always be taken before acting on any of the matters discussed.

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