IRELAND: Central Bank proposes amendment to the requirements for loan origination Qualifying AIF

Monday November 28 2016

The Central Bank of Ireland has announced its intention to amend paragraph 2 of Section 4 within Chapter 2 of the AIF Rulebook (Qualifying Investor AIF Requirements) as indicated below:

[N.B. new text that has been added is underlined, while removed text is indicated with strike through formatting]

“The loan originating Qualifying Investor AIF shall limit its operations to the business of issuing loans, participating in loans, participations in lending and to operations relating thereto directly arising therefrom, including investing in debt and equity securities of entities or groups to which the loan originating Qualifying Investor AIF lends or which are held for treasury, cash management or hedging purposes. including handling assets which are realised security, to the exclusion of all other commercial business”.

The change outlined therein will come into effect from 3 January 2017 when the Central Bank will publish a revised AIF Rulebook.

Click on the above link for details of the change