On 23 December 2011, the Central Bank published revisions to the UCITS and non- UCITS Notices to permit, amongst other amendments, that the off-setting deposit to a back-to-back loan is not required to be held in the base currency of the fund. In addition, the Central Bank has issued amendments to the following Guidance Notes:

  • Guidance Note 1/97;
  • Guidance Note 2/97 closed-ended fund

(amendments to the Guidance Note provide for the extent to which closedended CIS may introduce changes to the operations of the fund);

  • Guidance Note 2/99;
  • Guidance Note 3/03;
  • Guidance Note 1/07;
  • Guidance Note 2/07– UCITS- Financial Indices (the Guidance Note is amended to clarify the position where a financial index no longer meets with the 5/10/40% rule of the UCITS Directive but remains an eligible index subject to the 20/35% rule);
  • Guidance Note 4/07; and
  • Guidance Note 2/11.