S.L. 370.34 Art. 6Notification process.

(1) A written request for an AIF or for one or more subfunds of a Notified AIF to be included in the List of Notified

AIFs shall be made in accordance with the provisions of this regulation.

(2) Prior to the submission of a written request for notification by the AIFM, the governing body of the AIF shall approve a resolution certifying that the prospectus of the AIF satisfies the minimum criteria prescribed by the competent authority in the applicable Investment Services Rules.

(3) The request for notification of an AIF referred to in sub-regulation (1) shall be made in the form and manner required by the competent authority and shall contain such information as may be prescribed or as may be laid down by the competent authority in the Investment Services Rules. The request for notification shall be accompanied by such fee as may be prescribed.

(4) The competent authority shall reject notifications which do not comply with the requirements prescribed in these regulations and the applicable Investment Services Rules.

(5) The AIFM shall submit the duly completed written notification request together with the accompanying documents to the competent authority within thirty (30) calendar days from the date of the resolution of the governing body of the AIF approving the AIF’s prospectus in terms of sub-regulation (2) and prior to the effective date of the prospectus: Provided that the effective date of the prospectus shall be a date after the inclusion of the AIF in the List of Notified AIFs.

(6) The competent authority shall, within ten (10) working days from the date of filing of the duly completed notification request together with the accompanying documents, include the AIF in the List of Notified AIFs and, thereafter, the prospectus may be dated.

(7) Where the competent authority decides to reject a request for notification of an AIF, it shall give notice in writing thereof to the AIFM.

(8) The inclusion of an AIF in the List of Notified AIFs shall not imply that the AIF is in possession of a licence granted in terms of article 4 of the Act.

(9) The competent authority shall have the right to remove an AIF from the List of Notified AIFs at any time after it has been placed on such list.

(10) The inclusion of an AIF in the List of Notified AIFs is a concession and a privilege revocable by the competent authority at any time at its sole discretion on notice to the AIFM. The burden of proving that the AIF should be retained on the List of Notified AIFs shall rest at all times on the AIFM.

(11) For the better carrying out of the provisions of these regulations, the competent authority may issue and publish Investment Services Rules laying down additional requirements in relation to the following:

(a) the contents and format of the request for notification of an AIF; and

(b) the accompanying documentation and the contents and formats thereof including, the prospectus. inter alia,