NOTIFICATION for EXEMPTION FROM APPLICATION OF article 2(11) of the Financial services (jersey) law 1998 in relation to aif services business

The AIFSB/EXEMPT notification form should be completed by those carrying on fund services business under the FS(J)L(FSB)and Recognized Fund Functionaries seeking an exemption from registration to carry on AIF services business, where such persons perform the same functions as the AIF services business.

To avail themselves of the exemption this notification form MUST becompleted and submitted, and prior approval obtained in writing from the Commission, before the relevant AIF is marketed in any Member State of the EU or other EEA State to which the Directive applies.

For the avoidance of doubt, this AIFSB/EXEMPT notification form is not relevant for service providers only to COBO funds.

Please note:
The registration certificate granted by the Commission to an FSB or the permit granted by the Commission to a Recognized Fund Functionary will, in each case where the relevant AIF is being marketed in any EU Member State or other EEA State to which the Directive applies, include a new condition that the relevant FSB or Recognized Fund Functionary “MUST comply with the applicable sections of the AIF Codes”.
This AIFSB/EXEMPT notification form serves as notice by the Commission of the new condition being introduced for marketing in a Member State of the EU or other EEA State to which the Directive applies.
Additionally, the FSB Codes were updated with effect from 22 July 2013 to include an additional fundamental principle which provides that the relevant FSB “must comply with the applicable sections of the AIF Codes”.

For the purpose of this AIFSB/Exemptnotification form the following definitions will apply:

the AIF Codes / the Codes of Practice for Alternative Investment Funds and AIF Services Business.
AIF / alternative investment fund.
AIFMs / alternative investment fund managers.
The CIF Law / the Collective Investment Funds (Jersey) Law 1988.
the Commission / the Jersey Financial Services Commission.
Directive / Directive 2011/61/EU of the European Parliament and of the Council of 8 June 2011 on Alternative Investment Fund Managers.
EU / the European Union.
EEA / the European Economic Area.
FSB / a person carrying on fund services business under the FS(J)L.
the FSB Codes / the Codes of Practice for Fund Services Business.
the FS(J)L / the Financial Services (Jersey) Law 1998.
Recognized Fund Functionary / a person who holds a permit as a functionary of a recognized fund under the CIF Law.

Answers are to be written in black ink in BLOCK CAPITALS or typed.

If more space is needed the answer should be written on a separate sheet of paper with the heading: “Continuation of answer to question_ of AIFSB/EXEMPT notification form”.

Section A – Details of the FSB/Recognized Fund Functionary (the “Applicant”)

All questions in this section are to be completed.

Section B - Declaration

To be completed by all FSB’s/Recognized Fund Functionaries.

CompletedAIFSB/EXEMPT notification formsshould be sent to:

The Senior Manager, Funds Authorisation
Jersey Financial Services Commission
PO Box 267,
14-18 Castle Street,
St Helier, Jersey, JE4 8TP

Data Protection (Jersey) Law 2005

Personal data provided to the Commission – a data controller as defined in the Data Protection (Jersey) Law 2005 – will be used by the Commission to discharge its statutory, administrative and operational functions. Further information may be found in the Commission’s Data Protection policy, copies of which are available on request from the Commission and which may also be found on

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Section ADetails of the FSB/Recognized Fund Functionary (the “Applicant”)

A.1Name of the Applicant:

A.2Name of the contact acting for or on behalf of the Applicant:

Name:
E-mail address:
Telephone:

A.3For information purposes only, please indicate the EU Member State(s) and/or other EEA State(s) in which the Applicant intends to market, subject to the Commission’s prior approval.

(Please refer to the Commission’s Website for the list of EU/EEA States with which the Commission has signed the required bilateral cooperation agreement.)

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Austria
Belgium
Bulgaria
Croatia
Cyprus
Czech Republic
Denmark
Estonia
Finland
France
Germany
Greece
Hungary
Iceland
Ireland
Italy
Latvia
Liechtenstein
Lithuania
Luxembourg
Malta
Norway
Poland
Portugal
Romania
Slovak Republic
Slovenia
Spain
Sweden
The Netherlands
United Kingdom
Any of the above

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A.4(a) Will the Applicant be relying upon any transitional arrangement(s) adopted by any EU Member State and/or other EEA State to which the Directive applies and under which the Fund is marketed (“Transitional Arrangements”) which would operate to exclude the Applicant from the scope of Jersey’s AIFMD regime up until the expiry of the first of any such Transitional Arrangements?

/ Yes / No

(b)If so, please confirm on what date will the first of any such Transitional Arrangements expire?

/ //

A.5Please statethe full name of the AIF(s) and whether it is regulated under the CIF Law or COBO:

Name of AIF and Regulatory Status:

A.6For the purpose of compliance with the AIF Codes, will the Applicant be subject to the sub-threshold provisions, the private placement rules or full compliance for passporting purposes?

Sub-Threshold Provisions: / Private Placement Rules: / Full Compliance:
The requirements of any EU Member State or other EEA State to which the Directive applies should be considered separately by the Applicant and, to the extent applicable, complied with in addition to the requirements of the AIF Codes.

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Section BDeclaration

The Applicant is required to notify the Commissionimmediately of:

(a)any other information which it considers relevant to this AIFSB/EXEMPTnotification form; and

(b)any significant changes in the information provided in this AIFSB/EXEMPT notification form which occur after the date of submission of thisAIFSB/EXEMPT notification form.

(THE ATTENTION OF SIGNATORIES IS DRAWN TO ARTICLE28 OF THE FS(J)L)

  1. We acknowledge, understand and accept that –
  1. compliance with the applicable sections of the AIF Codes effective from 22 July 2013, is a condition foreither the registration of an FSB or for the grant of a Recognized Fund Functionary permit;
  2. the FSB or Recognized Fund Functionary, as the case may be, agrees with the Commission that the condition that it “MUSTcomply with the applicable sections of the AIF Codes” shall take immediate effect;
  3. any failure on the part of an FSB or a Recognized Fund Functionary to comply with the condition set out above would be a criminal offence under the FS(J)L or the CIF Law, as the case may be; and
  4. any change to the AIF Codes will not be a condition for either the registration of theFSBor for the grant of theRecognized Fund Functionary permit unless the Commission has, in accordance with the FS(J)L or the CIF Law, given notice of the change and of the fact that it is a condition.
  1. We declare that the information given in this AIFSB/EXEMPT notification form is complete and correct to the best of our knowledge at the time of the submission to the Commission of thisAIFSB/EXEMPT notification form and that there are no other material facts of which the Commission should be aware.

This AIFSB/EXEMPT notification form must be signed by two directors of the FSB or Recognized Fund Functionary.

For and on behalf of:
Signatures:
Names:
Positions:
Date: / // / //

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