UCITS -(Undertakings for Collective Investment in Transferable Securities)

The European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2003 as amended bring into force in Ireland the measures necessary to implement EC Council Directive 85/611/EEC of 20 December 1985 Regulations and Administrative Provisions relating to Undertakings for Collective Investment in Transferable Securities (UCITS) as amended by subsequent Directives. The Central Bank and Financial Services Authority of Ireland has been designated in the Regulations as the competent authority with responsibility for the authorisation and supervision of UCITS.

The Directives are as follows:

Council Directive 85/611/EEC of 20 December, 1985

Council Directive 88/220/EEC of 22 March, 1988

Council Directive 95/26/EC of 29 June, 1995

Directive 2001/107/EC of the European Parliament and of the Council of 21 January, 2002

Directive 2001/108/EC of the European Parliament and of the Council of 21 January, 2002

The Directives have been transposed by the following Statutory Instruments:

European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2003 (S. I. No. 211 of 2003)

European Communities (Undertakings for Collective Investment in Transferable Securities) (Amendment) Regulations 2003 (S.I. No. 212 of 2003)

European Communities (Undertakings for Collective Investment in Transferable Securities) (Amendment No. 2) Regulations 2003 (S.I. 497 of 2003)

European Communities (Undertakings for Collective Investment in Transferable Securities) (Amendment No. 3) Regulations 2003 (S.I. 623 of 2003) (This S.I. has been revoked - see European Communities (Undertakings for Collective Investment in Transferable Securities) (Amendment No. 4) Regulations 2003 ).

European Communities (Undertakings for Collective Investment in Transferable Securities) (Amendment No. 4) Regulations 2003 (S.I. 737 of 2003).