From 22 July 2013, the Alternative Investment Fund Managers Directive (AIFMD) is "live" in the EU and the AIFMD passport regime is effective. As previously highlighted in our Knowledge Weekly Bulletin 21 May 2013, AIFMD is far reaching in scope and the definition of Alternative Investment Fund (AIF) is wide. Ireland has fully implemented the AIFMD by virtue of AIFM Regulations. The Central Bank has issued a range of materials which include an AIF Rulebook, AIFMD Q&A and Guidance and Application Forms. It has also opened consultation CP68 on types of AIF under AIFMD which include Unit Trusts, Exempt Unit Trusts, REITs and SPVs.