Central Bank Deadlines for Pre-Christmas / Year-end Applications
The Central Bank of Ireland (Central Bank) has notified the industry of the deadlines for pre- Christmas and year-end applications. With the Brexit transition period ending on 31st December it promises to be a busy close to 2020.
Of particular note:
- Applications for new UCITS funds and non-fast-track sub-funds must be made by 5pm on 16th October
- QIAIF applications will continue to have the normal 24-hour approval process until 22nd December
- Change of Service Provider notifications for QIAIFs should be received by 15th December
Full details on the various deadlines are outlined below:
| Fund/Post-Authorisation Applications (Excluding QIAIFs) | Deadline for Receipt |
| Funds and non-fast-track sub-funds (this deadline also applies to self- managed/internally managed investment company/ICAV applications) | 5pm on 16 October |
| Fast-track sub-funds1 | 5pm on 13 November |
| Post-Authorisation – major items | 5pm on 16 October |
| Post-Authorisation – all other items | 5pm on 13 November |
| QIAIF Filings (submitted through ORION, the Central Bank’s online reporting system)
Normal timeframes apply until 22 December |
|
| For Authorisation / Approval / Noting on: | Deadline for Receipt |
| 23 December | 5pm on 22 December |
| 29 December2 | 3pm on 23 December |
| 4 January3 | 5pm on 30 December |
| QIAIF Filings (Non-ORION Based Applications)
Normal timeframes apply until 22 December |
|
| For Authorisation / Approval / Noting on: | Deadline for Receipt |
| 23 and 24 December | 3pm on 22 December |
| 29 December2 | 3pm on 23 December |
| 4 January3 | 3pm on 30 December |
| QIAIF Change of Service Provider Filings | |
| Effective Date | Deadline for Receipt |
| 29 December 2020 – 1 January 2021 | 5pm on 15 December |
| Application Type | Deadline for Receipt |
| Investment Manager Applications | 5pm on 13 November |
| ICAV Registration/Conversion/Migration Applications | 5pm on 1 December |
| UCITS and RIAIF Authorisations / Approvals / Notings | |
| For Authorisation/Approval/Noting on: | Deadline for Receipt |
| Thursday 24 / Tuesday 29 December 2020 | 12 p.m. on Wednesday 23 December 2020 |
| Monday 4 January 2021 | 3 p.m. on Wednesday 30 December 2020 |
| Individual Questionnaire (IQ) Filings
Normal timeframes apply until 20 November |
|
| IQ Application Type | Deadline for Receipt |
| IQs relating to Qualifying Investor Alternative Investment Funds (“QIAIFs”) | 5pm on 1 December |
| IQs relating to Other Fund Types and Fund Service Providers | 5pm on 20 November |
Revocations
Funds seeking to revoke at end of December 2020 must submit a complete revocation application, including payment of the funding levy, by 5pm on 4 December.
Footnotes:
1 A ‘fast-track’ system is available for clones of funds recently approved by the Central Bank of Ireland and non-complex sub-funds. (i.e. plain vanilla equity funds which do not use derivatives).
2 29 December is the first day after Christmas that funds may be authorised / approved.
3 4 January is the first day in 2021 that funds may be authorised / approved.
