Post Authorisation Processes for UCITS

Where once a UCITS has been authorised by the Central Bank, any change to the documentation of the UCITS or changes resulting from the appointment/resignation of directors, or service providers must be submitted to the Central Bank for approval/noting. This page sets out the Central Bank’s processes for authorised UCITS seeking clearance for these changes post authorisation.

Amendments to fund documentation

All changes to fund documentation requiring review by the Central Bank should be submitted in hard copy.

Amendments to documentation previously filed with the Central Bank and not subject to review must be submitted and accompanied with the relevant section(s) of the UCITS application form and appropriate confirmation. . These documents should be submitted to postauthnotings@centralbank.ie and filed with the Central Bank by 12 noon.

New Share Classes

Where post authorisation updates are made to the prospectus or supplement to provide for the establishment of a new share class only, this application must be accompanied by a completed Section 2.21 of the UCITS Application Form/Retail Investor AIF Application Form and a marked-up prospectus or supplement highlighting the changes.

Where it is intended to restrict a share class, this should also be accompanied by a confirmation from the Responsible Person that the proposal to restrict [name(s) of class(es)] to the entities outlined is sufficient to allow that the class(es) provide(s) for public participation.

These documents should be submitted to fundspostauthorisation@centralbank.ie no later than 12 noon on the day prior to noting.

Depositary Agreements

Where post authorisation updates are made to the depositary agreement, the updated and executed agreement should be submitted in soft copy accompanied by Section 5 of the UCITS Application Form/Section 4 of the Retail Investor AIF Application Form (as appropriate), a marked-up depositary agreement highlighting the changes and the following written confirmation from the depositary:

The amendments to the Depositary Agreement are in compliance with the European Communities UCITS Regulations 2011, Commission Delegated Regulation (EU) 2016/438, the Central Bank UCITS Regulations 2019 and any relevant Central Bank guidance and, in particular, that the amendments are in compliance with all liability requirements in this regard.

These documents should be submitted to fundspostauthorisation@centralbank.ie no later than 12 noon on the day prior to noting.

Trust Deed/Deed of Constitution

Where post authorisation updates are made to the trust deed/deed of constitution, the updated and executed document should be submitted in soft copy accompanied by the Section 3/Section 4 Application Form (as appropriate), a marked-up trust deed/deed of constitution highlighting the changes and the following written confirmation from the depositary:

The amendments to the trust deed/deed of constitution are in compliance with the European Communities UCITS Regulations 2011, Commission Delegated Regulation (EU) 2016/438, the Central Bank UCITS Regulations 2019 and any relevant Central Bank guidance, and in particular that that the Depositary related provisions are in compliance with all liability provisions in this regard.

These documents should be submitted to fundspostauthorisation@centralbank.ie no later than 12 noon on the day prior to approval.

Investment Limited Partnership Agreement

Where post authorisation updates are made to the Investment Limited Partnership Agreement, the updated and executed agreement should be submitted in soft copy be accompanied by the relevant parts of Section 10 RIAIF application form and a marked-up investment limited partnership agreement highlighting the changes. These documents should be submitted to fundspostauthorisation@centralbank.ie no later than 12 noon on the day prior to noting.

UCITS Mergers

Where a UCITS proposes to merge with another UCITS fund, it is required to complete the UCITS Merger Application Form. This form and all supporting documentation should be submitted to ucitsmergers@centralbank.ie.

Change of depositary, fund administrator or management company

Initial Notification

Where a UCITS proposes to change its depositary, fund administrator or management company it is required to complete the COSP1 form. This form and all supporting documentation should be submitted in hard copy for the Central Bank to review.

Date of Appointment

On the proposed date of appointment of the depositary, fund administrator or management company, the UCITS is required to complete the COSP2 form. This form and all supporting documentation should be submitted to the Central Bank by 12 noon on the date of appointment of the new service provider.

Change of Investment Manager/Investment Advisor

Where a UCITS proposes to change or appoint an additional investment manager/investment advisor it is required complete this form. This form and all supporting documentation should be submitted on the date of the proposed change.

NOTE: This form should only be submitted where the Investment Manager has been cleared to act for Irish authorised funds by the Central Bank. More information in relation to the clearance process is available here.

Revocation of a UCITS

Where a UCITS proposes to revoke it authorisation it is required to complete one of the following forms, depending on its legal status:

Withdrawal of Approval of a UCITS sub-fund

Where a UCITS established as an umbrella proposes to withdraw the approval of one or more sub-funds within the umbrella it is required to complete this form.