Transitional provisions for foreign AIF management companies and for other States party to the Agreement on the European Economic Area

(1) Sections 56 to 66 do not apply until the point in time referred to in section 295(2), point 1.
(2) Where this Act refers to other States party to the Agreement on the European Economic Area or to the Agreement on the European Economic Area, that reference in each case applies only from the point in time from which the legal acts of the European Union relevant to the corresponding provision of this Act are binding on the contracting parties under Article 7 of the Agreement on the European Economic Area and have become part of national law, or have been transposed into national law, in the other State party to the Agreement on the European Economic Area concerned.
(3) Directly applicable legal acts of the European Union apply correspondingly, within the scope of this Act, also to the States party to the Agreement on the European Economic Area that are not Member States of the European Union, insofar as these legal acts are binding on the contracting parties under Article 7 of the Agreement on the European Economic Area and have become part of national law, or have been transposed into national law, in the other State party to the Agreement on the European Economic Area concerned.