Legal Updates

 Financial ServicesDecember 01, 2021

Central Bank of Ireland Year-End Deadlines

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For further information on any of the issues discussed in this publication please contact the related contact(s) on this page.

The Central Bank of Ireland (the Central Bank) has confirmed the timeframes for receipt of applications that are seeking a year-end effective date.

In previous years, the Central Bank had issued these timeframes in the third quarter of the year. In August 2021, the Central Bank indicated that it would not be continuing this practice, with applications being assessed in accordance with the authorisation timeframes that apply throughout the year.

The Central Bank has provided timeframes for the following applications:

QIAIFs seeking authorisation/approval of sub-funds/noting of documents:

For authorisation/approval/noting on:Deadline for submission

or before 22 December

normal timeframes apply

23 and 24 December

3pm on 22 December

29 December

3pm on 23 December

30 December

3pm on 29 December

31 December

3pm on 30 December

4 January

5pm on 31 December

QIAIFs seeking a change of service provider:

Effective date

Deadline for submission

27 Dec 2021 – 31 Dec 2021

5pm on 13 December

ICAV registrations/conversions/migrations:

Effective date

Deadline for submission

23 Dec 2021 – 31 Dec 20215pm on 10 December

UCITS and RIAIF authorisations/approvals:

  • Executed documentation for authorisations/approvals required on 24, 29, 30 and/or 31 December must be received by 12pm on Thursday 23 December.
  • 4 January 2022 is the first day of 2022 that funds may be authorised/approved and executed documentation for funds seeking authorisation/approval on that date must be received by 5pm on Friday 31 December.

Fund revocations:

Funds seeking to revoke at end of December 2021 must submit a complete revocation application, including payment of the funding levy, by 5pm on 13 December.

Fast-track filings for Compliance with the Taxonomy Regulation

Separately, as advised recently, the Central Bank is operating a fast-track process for filing updates to pre-contractual documentation ahead of the 1 January 2022 deadline for amendments required in order to comply with the Taxonomy Regulation (Regulation (EU) 2020/852). The filing deadline for use of the fast-track process for updates to pre-contractual documents (including prospectuses and supplements) is 14 December 2021.

Please get in touch with your usual Dillon Eustace contact if you have any queries regarding these deadlines.

DISCLAIMER: This document is for information purposes only and does not purport to represent legal advice. If you have any queries or would like further information relating to any of the above matters, please refer to the contacts above or your usual contact in Dillon Eustace.

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