Changes to the Guernsey Class B Rules
The Authorised Collective Investment Schemes (Class B) Rules 2013 came into operation on 2 January 2014, replacing the Collective Investment Schemes (Class B) Rules 1990. This note discusses certain aspects of the changes that have been made.
As a result of the changes, Class B scheme service providers will need to take action. In particular, it should be noted that the transitional provisions require that: scheme particulars must be updated in compliance with the Class B Rules by no later than 1 January 2015; and principal documents will need to be reviewed and amended as necessary to comply with the Class B Rules by no later than 1 January 2016.
There are no specific transitional provisions to deal with differences under the new regime, for example, stating that the previous regime under the 1990 Rules in respect of particular matters will continue until such time as the fund documents are updated as described above…
Click on the link below to read the rest of the Ogier briefing.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from Ogier
News from The Lawyer
Briefings from Ogier
Maternity leave, paternity leave and flexible working coming soon.
Independent directors are now seen as an essential part of the due diligence process for investors.