The Central Bank of Ireland (Central Bank) has responded positively to a request from industry that the operational date for the IMR should be delayed from 1 April 2016 until 1 July 2016. The Central Bank is engaged in the process required by law to effect this change including consultation with the Minister for Finance. Many investment funds (but not all) will be changing their processes to ensure that their subscription/redemption/dividend accounts operate at an umbrella level as fund assets and so are not subject to the Investor Money Regulations (which will be effective from 1 July 2016).