All applicants seeking to provide services to collective investment schemes are requested to contact the Central Bank in advance of making a formal application.
It is normal practice for the Central Bank to meet with new applicants to discuss their proposed business prior to engaging in the authorisation/approval process.
This serves a dual purpose by enabling the Central Bank to familiarise itself with the background and business credentials of the applicant whilst identifying, at a critical early stage, any potential issues with the proposed business.
An application for approval as a Non-UCITS management company under CIS Legislation may be made by submitting:
Where the applicant proposes to carry out certain management functions in-house, the application must also include a detailed business plan setting out, inter alia, the structures, procedures and financial resources required to carry out the proposed activity.
In completing an IQ, applicants are directed to the Fitness & Probity Requirements. Applications that do not contain the key authorisation documents listed above will be regarded as incomplete and will be returned to the applicant.
Each applicant should bear in mind the nature of its proposed business and structure in preparing an application for submission.
The Central Bank will advise the applicant of any additional information or clarification required, having reviewed the documentation submitted, by issuing detailed written comments to the applicant or its legal representative, as appropriate.
An effective and expeditious authorisation process depends on the timeliness and quality of responses received to the Central Bank's comments.