Irish Collective Asset-management Vehicles Act 2015
Carrying on of business | ||
8. (1) No business shall be carried on by an ICAV that is not an authorised ICAV. | ||
(2) The business carried on by an authorised ICAV shall be confined to activities permitted to be carried on by— | ||
(a) in the case of an ICAV authorised under section 19 , this Act and, where applicable, the AIFM Regulations, or | ||
(b) in the case of an ICAV authorised under the UCITS Regulations, those Regulations. | ||
(3) If an ICAV fails to comply with subsection (1) or (2), the ICAV and any officer of it who is in default commits a category 1 offence. |