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  • CIU-7.1 CIU-7.1 Implementation by Existing CIUs

    • CIU-7.1.1

      CIUs approved by the CBB prior to the date of commencement of this Module (1 June 2007) are not required to submit a new application for authorisation or registration.

    • CIU-7.1.2

      Rather, the CBB will confirm with the CIUs concerned which category they fall under according to the new framework contained in this Module (i.e. a retail CIU, expert CIU or exempt CIU; and, in the case of overseas domiciled CIUs, whether they qualify as a recognised jurisdiction). The CBB will then update its published list of CIUs accordingly.

    • CIU-7.1.3

      CIUs approved by the CBB prior to the date of commencement of this Module must ensure compliance with the requirements of this Module within the 12 months following the date of commencement of this Module (i.e. by June 2008). In addition, they must submit the Form CIU(QS) starting with the quarter-period ending 30 June 2007: i.e., the first such Form must be filed by 21 July 2007.

      Amended: July 2007

    • CIU-7.1.4

      With respect to overseas domiciled CIUs, which comprise the bulk of CIUs approved by the CBB prior to the commencement date of this Module, the impact of Rule CIU-7.1.3 is that those CBB licensees responsible for distributing overseas domiciled CIUs must ensure compliance with applicable requirements contained in Section CIU-4.2. These requirements mostly apply to overseas domiciled retail CIUs and overseas domiciled expert CIUs, and are relatively limited in scope.

    • CIU-7.1.5

      For CIUs authorised or registered after 1 June 2007, the requirements of this Module have immediate effect.