Transitional provision on sections 29a and 30(3a)

(1) For AIF capital management companies managing AIF that grant loans and that were set up before 15 April 2024, it is presumed, until 16 April 2029, that they comply with the requirements of section 29a(3) to (6) and section 30(3a).
(2) Where the nominal value of the loans granted by an AIF to a single borrower, or the leverage of an AIF, exceeds the ceilings named in section 29a(3) and (5), the AIF capital management companies managing these AIF may not increase this value or this leverage until 16 April 2029. Where the nominal value of the loans granted by an AIF to a single borrower, or the leverage of an AIF, is below the ceilings named in section 29a(3) and (5), AIF capital management companies managing these AIF may not increase this value or this leverage beyond these ceilings.
(3) For AIF capital management companies managing AIF that grant loans and that were set up before 15 April 2024 and that raise no additional capital after 15 April 2024, it is presumed that they comply with the requirements of section 29a(3) to (6) and section 30(3a) in respect of these AIF.
(4) Notwithstanding subsections (1) to (3), an AIF capital management company managing AIF that grant loans and that were set up before 15 April 2024 may elect to comply with section 29a(3) to (6) and section 30(3a), provided the Federal Institute is notified of this.
(5) Where AIF have granted loans before 15 April 2024, the AIF capital management companies may continue to manage these AIF without complying with section 29(3), point 4, and section 29a(7) to (10) and section 29b, in respect of these loans.