IRELAND: Minister of Finance publishes General Scheme of the Irish Collective Asset-management Vehicle (ICAV) Bill

Thursday January 2 2014

The General Scheme of the Irish Collective Asset-management Vehicle (ICAV) Bill has been published as of 20 December 2013. The General Scheme (or “heads”) was approved for legal drafting by the Government at its meeting on Tuesday, 17 December.

The IFSC Strategy Statement 2011-2016 commits the Government to the development of proposals for a new type of corporate vehicle for the funds industry aimed at enhancing the attractiveness of Ireland as a domicile for collective investment funds. The ICAV proposal is expected to minimise the administrative complexity and cost of establishing and maintaining collective investment schemes in Ireland and will allow for the maintenance of Ireland’s competitive competitive advantage as a funds domicile of choice in Europe.

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