Regulatory Alerts2011-01-01
Collective Investment Schemes (Recognised Schemes) (Luxembourg) Order 2011
The Financial Supervision Commission issued this Order to designate Luxembourg as a jurisdiction for recognised collective investment schemes under the Collective Investment Schemes Act 2008. The Order recognises schemes subject to specific Luxembourg laws as eligible for recognition, with authorisation evidenced by entry on the CSSF UCITs Registers. This statutory instrument came into operation on 1 July 2011 following approval by Tynwald.
Collective Investment Schemes (Recognised Schemes) (Luxembourg) Order 2011 Article 1 c SD No.2011/0357 Page 1 Statutory Document No. 2011/0357 Collective Investment Schemes Ac c t 2008 COLLECTIVE INVESTMENT SCHEMES (RECOGNISED SCHEMES) (LUXEMBOURG) ORDER 20111 Approved by Tynwald: 22 June 2011 Coming into Operation: 1 July 2011 The Financial Supervision Commission, after carrying out the consultations required by section 24(13) of the Collective Investment Schemes Act 20081 , makes this Order under sections 24(1) of, and paragraph 1 of Schedule 4 to, that Act. 1 Title This is the Collective Investment Schemes (Recognised Schemes) (Luxembourg) Order 2011. 2 Commencement This Order comes into operation on 1 July 2011. 3 Interpretation In this Order — “the Act” means the Collective Investment Schemes Act 2008; “CSSF” means the Commission de Surveillance du Secteur Financier; “CSSF UCITs Registers” means the lists published by the CSSF of undertakings for collective investment governed by either Part 1 of the Law of 20 December 2002 or Part 1 of the Law of 17 December 2010; “Law of 20 December 2002” means the Law of 20 December 2002 relating to undertakings for collective investment and amending the law of 12 February 1979 concerning the value added tax2 ; “Law of 17 December 2010” means the Law of 17 December 2010 relating to undertakings for collective investment3 ; and
1 2008 c.7 2 A law of Luxembourg 3 A law of Luxembourg
Article 4 Collective Investment Schemes (Recognised Schemes) (Luxembourg) Order 2011 Page 2 SD No.2011/0357 c “UCITs” means Undertakings for Collective Investment in Transferable Securities. 4 Recognised Luxembourg Schemes (1) Luxembourg is designated for the purposes of paragraph 1 of Schedule 4 to the Act. (2) Collective investment schemes subject to either Part 1 of the Law of 20 December 2002 or Part 1 of the Law of 17 December 2010 are recognised schemes for the purposes of paragraph 1 of Schedule 4 to the Act. (3) Authorisation under (2) is evidenced by entry on the CSSF UCITs Registers. MADE 17 MAY 2011
Collective Investment Schemes (Recognised Schemes) (Luxembourg) Order 2011 Endnotes c SD No.2011/0357 Page 3 ENDNOTES Table of Endnote References 1 The format of this legislation has been changed as provided for under section 75 of, and paragraph 2 of Schedule 1 to, the Legislation Act 2015. The changes have been approved by the Attorney General after consultation with the Clerk of Tynwald as required by section 76 of the Legislation Act 2015.