Friday July 1 2005

News Source: Fund Regulation

Focus: General - Fund Regulation

Type: General

Country: Ireland




On 30 June 2005, the Investment Funds, Companies and Miscellaneous Provisions Act, 2005 (the “Act”) was enacted. This Act provides, amongst other things, additional flexibility and new opportunities for the funds industry in Ireland. In the context of investment funds, the following key provisions of the Act are particularly welcome:

*the segregation of liability between individual subfunds of an umbrella fund established as an investment company;

*provision for cross investment between individual sub-funds of an umbrella investment company; and

*provision for the establishment of a non-UCITS common contractual fund (CCF).

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