Post Authorisation for UCITS Management Companies

There are additional ongoing requirements in relation to UCITS Management Companies once they are authorised.

The following list is not exhaustive and is intended to serve as a guide. If any UCITS Management Company or Self-Managed Investment Company (SMIC) is unclear of its obligations it should contact the Funds Supervision Division.

Change of Director/Manager

Any change of director/manager should be notified to the Central Bank. This includes both proposed appointments and resignations. All proposed appointees are subject to the ‘Fitness & Probity’ regime

Change in Qualifying Holding

Changes to qualifying holdings in UCITS Management Companies are subject to the approval of the Central Bank; details of the exact requirements are set out in the UCITS Regulations. Firms are obliged to advise the Central Bank on an annual basis of their ownership structure.

“The attached Acquiring Transaction Notification Form is to be used to provide prior notification to the Central Bank of proposed changes to qualifying holdings.

The Central Bank would appreciate a pre-engagement discussion with proposed acquirers prior to submission of the Acquiring Transaction Notification Form (ATNF). Please contact the Authorisation team by email - [email protected] to arrange a pre-engagement discussion on proposed ATNF's.”

“The Joint Committee of the European Supervisory Authorities has issued guidelines to competent authorities across the EU, including the Central Bank of Ireland. These guidelines are titled 'Joint Guidelines on the prudential assessment of acquisitions and increases of qualifying holdings in the banking, insurance and securities sectors' (“the Guidelines”).  The Guidelines replace the previous EU-wide guidelines on the prudential assessment of acquisitions and are in force from 1 October 2017.” 

Change of Company name

The Central Bank must first approve any change in company name before it is submitted to the Companies Registration Office (CRO).

Application for extension of authorisation

Applications to extend authorisation requires the prior approval of the Central Bank. Please see the Authorisation section for further information.

Capital Contributions and Subordinated Loans

Capital contributions are accepted as part of the financial resources requirement provided they are executed in the Central Bank's approved format.

Capital Contribution | doc 44 KB >5 year Subordinated Loan Agreement | doc 51 KB

Change of Address

Any change of address by a UCITS Management Company or by a SMIC must be notified in advance to the Funds Supervision Division. This will allow supervisors to update Central Bank records and systems on a timely basis.

Other changes

If there is uncertainty regarding whether a change constitutes a material change for supervisory purposes you should contact relevant supervisors directly.