The Central Bank has updated its ELTIF application form to reflect the coming into force of RTS relating to the ability to establish open-ended ELTIFs. Information relating to the authorisation process for ELTIFs has also been updated.
Where an AIFM wishes to establish either a Professional Investor ELTIF or a Qualified Investor ELTIF which are open-ended with limited liquidity and avail of the 24 hour authorisation process it must make a pre-submission to [email protected] in good time prior to the requested authorisation and which addresses the following:
(i) the possibility of redemptions during the life of the ELTIF,
(ii) (where relevant) the possibility of redemptions which are more frequent than quarterly, and
(iii) (where relevant) the provision of a notice period of less than 3 months.
Once cleared, such an ELTIF can proceed to authorisation in the normal course.
Retail Investor ELTIFs should include details noted at (i)-(iii) above in its initial filing with the Central Bank.