11 o’clock

Seanad amendment No. 21:Section 185: In page 115, between lines 17 and 18, to insert the following:“Adaptation of certain provisions of UCITS Regulations185.(1) Regulations 17(11), 42(4)(d), 104(2), 125 to 127, 131, 134(1) to (9) and 135(1) and (2) of the UCITS Regulations apply to an ICAV authorised under section 19 as they apply to the bodies to which those Regulations relate but subject to the modifications in subsection (2). (2) The modifications are that— (a) references to repurchase are to purchase,(b) references to the UCITS Regulations are to this Act, (c) references to an UCITS are to an ICAV, (d) references to a unit are to a share, (e) references to a unit-holder are to a shareholder, and (f) references to the Companies Acts include this Act.(3) References to cognate terms or expressions in those Regulations shall be read accordingly.”.(3) References to cognate terms or expressions in those Regulations shall be read accordingly.”.

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