Transitional provision on the AIFM Implementation Act

(1) Section 1(1a), as in force until 21 July 2013, continues to apply to financial services institutions that, as a result of the amendment of section 1 and the entry into force of the Capital Investment Code, are deemed to be capital management companies within the meaning of section 17 of the Capital Investment Code or as units in investment funds within the meaning of section 1(1) of the Capital Investment Code, and that meet the conditions of section 353(1) to (3).
(2) This Act, as in force until 21 July 2013, continues to apply to financial services institutions that, as a result of the amendment of section 1 and the entry into force of the Capital Investment Code, are deemed to be capital management companies within the meaning of section 17 of the Capital Investment Code or as units in investment funds within the meaning of section 1(1) of the Capital Investment Code, until the authorisation application under section 22 of the Capital Investment Code is submitted, or, where the conditions of section 2(4), (4a), (4b), or (5) of the Capital Investment Code are met, until registration under section 44 of the Capital Investment Code.