
1 

(1) These Regulations may be cited as the Financial Services and Markets Act 2000 (Overseas Funds Regime) (Equivalence) (European Economic Area) Regulations 2024.
(2) These Regulations come into force on 16th July 2024.
(3) These Regulations extend to England and Wales, Scotland and Northern Ireland.
2 
In these Regulations—
 “the Act” means the Financial Services and Markets Act 2000;
 “MMF” means an EEA UCITS, or a sub-fund of an EEA UCITS, that is authorised in an EEA state for the purpose of being a money market fund that—
(a) invests in financial assets with a residual maturity not exceeding 2 years, and
(b) has distinct or cumulative objectives offering returns in line with money market rates or preserving the value of the investment;
 “stand-alone scheme” means a collective investment scheme—
(a) which does not have two or more sub-funds, and
(b) whose fund rules or instruments of incorporation do not enable it to have two or more sub-funds.
3 
The Treasury approve each EEA state for the purposes of section 271A of the Act in relation to—
(a) stand-alone schemes that are EEA UCITS, except for schemes that are MMFs, and
(b) sub-funds of EEA UCITS, except for sub-funds that are MMFs.
Scott Mann
Amanda Milling
Two of the Lords Commissioners of His Majesty's Treasury
13th May 2024