In the context of timely adoption by self managed UCITS investment companies (“SMICs”) of the new UCITS IV rules on organisational matters, conflicts of interest, conduct of business and risk management, the Central Bank has indicated that it intends to issue a filing schedule for revised business plans of SMICs in the near future. The intention is for SMICs to prepare draft documents in order to comply with the remaining UCITS IV obligations for review by the Central Bank during the course of 2012. SMICs will not, however, be required to implement the balance of the new UCITS IV management rules until 1 July 2013. We will issue a further update as soon as the proposed filing schedule has been set by the Central Bank. In the event that the specific deadline allocated to your SMICs causes a particular difficulty, there may be some scope to agree an alternate filing deadline with the Central Bank.