The new Private Ancillary Fund (PAF) Guidelines 2019 came into effect from 21 September 2019 and replace the 2009 Guidelines. This provides a timely opportunity for private ancillary funds to review their compliance with the 2019 guidelines. See the new PAF Guidelines here:
The changes in the 2019 Guidelines are mainly structural improvements to make the guidelines easier to understand and navigate. Some of the guidelines have been renumbered and some key terms have been defined upfront to improve clarity. More information about the changes, including a table to help explain the renumbered provisions, is available in the explanatory statement.
See the explanatory statement here:
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