The upper house of the Irish Parliament, the Dail, approved draft legislation on 19 February 2015 to provide for a new form of Irish corporate fund vehicle, the ICAV. This legislation will now go to the President to be signed into law. This is expected to occur within two weeks.

Further details relating to the progress of this legislation are available in the Irish Collective Asset-management Vehicles Bill 2014.

Additional information relating to the ICAV is available in the Dechert publication "Irish Minister for Finance Announces New Irish Corporate Fund Vehicle".