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12 Nov 2024

Central Bank of Ireland: Year-End Deadlines

briefing

Asset Management and Investment Funds

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For further information on any of the issues discussed in this publication please contact the related contact(s) on this page.


The Central Bank of Ireland (the Central Bank) has confirmed its timeframes for receipt of applications with a proposed effective date before year-end 2024.

The Central Bank has provided year-end timelines for the following applications:

QIAIF AND/OR PROFESSIONAL ELTIF FILINGS

For authorisation / approval / noting on:

Deadline for submission

Or before Friday 20 December 2024

Normal timeframes apply

Monday 23 and Tuesday 24 December 2024

3pm on Friday 20 December 2024

Friday 27 December 2024

3pm on Monday 23 December 2024

Monday 30 and Tuesday 31 December 2024

3pm on Friday 27 December 2024

Thursday 2 January 2025

5pm on Monday 30 December 2024


QIAIFS SEEKING TO CHANGE SERVICE PROVIDER(S)

Effective date

Deadline for submission

Friday 27 December 2024 – Wednesday 1 January 2025

5pm on Friday 13 December 2024


ICAV REGISTRATION / CONVERSION / MIGRATIONS

Effective date

Deadline for submission

Monday 23 December 2024 – Tuesday 31 December 2024

5pm on Friday 6 December 2024


UCITS, RIAIF AND RETAIL ELTIF AUTHORISATIONS / APPROVALS / NOTING

Central Bank Comment

Executed documentation for authorisations/approvals/notings required on 23, 24, 27, 30 and/or 31 December 2024 must be received by close of business on Thursday 19 December 2024.

In order to prioritise applications that are considered likely to be authorised / approved prior to year-end, no applications detailed in (a) and (b) below should be submitted to the Central Bank after close of business on Friday 13 December 2024. This includes:

(a)   No new Draft 1 applications; and

(b)   No applications that are not reasonably expected to be in a position to submit for authorisation/approval by Thursday 19 December 2024.

From Thursday 2 January 2025, applications may be submitted to the Central Bank. Where applications (initial and later drafts) are received after close of business on Friday 13 December 2024, these applications will be treated as if they were received on 2 January 2025.

Thursday 2 January 2025 is the first day of 2025 that funds may be authorised/approved and/or post-authorisation updates noted. Executed documentation for funds seeking authorisation/approval or noting on that date must be received by close of business on Monday 30 December 2024.


FUND SERVICE PROVIDER AUTHORISATIONS

Central Bank Comment

Firms intending to submit an Acquiring Transaction notification between Friday 20 December 2024 and Friday 3 January 2025 should engage with the Central Bank in advance of Friday 20 December 2024 by emailing Mancofspauthorisations@centralbank.ie.


FUND REVOCATIONS

Central Bank Comment

Funds seeking to revoke at end of December 2024 must submit a complete revocation application, including payment of the funding levy, by 5pm on Friday 13 December 2024.



If you have any queries regarding these deadlines, please get in touch with your usual Dillon Eustace contact.

DISCLAIMER: This document is for information purposes only and does not purport to represent legal advice. If you have any queries or would like further information relating to any of the above matters, please refer to the contacts above or your usual contact in Dillon Eustace.


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