On 2 May the Central Bank published a ninth edition of its AIFMD Q&A.

The updated Q&A clarifies that any derogation granted to a fund under the NU Notices will no longer be valid once the fund becomes subject to the AIF Rulebook. An exception to this rule is that a QIF feeder scheme with a derogation to invest in an unregulated scheme can continue to operate in accordance with the derogation previously given.

Any requests for derogations from the AIF Rulebook will be considered on a case by case basis.

The AIFMD Q&A sets out answers to queries likely to arise in relation to the implementation of the AIFMD.  It is published in order to assist in limiting any uncertainty until definitive positions and practises are finalised.