Key highlights of the AIP process:

• Conditional pre-approval can be granted within 2-3 business days for applicants submitting the required documentation.
• This allows sponsors to address operational and outstanding requirements in a structured manner.
• Full applications are typically reviewed within eight business days.

It is important to note that AIP is not equivalent to formal registration or authorisation under the Investment Funds Act 2006. Funds cannot commence operations, accept subscriptions, or claim registration until all statutory and regulatory requirements are met, and formal approval is granted.

For further details, BMA’s Notice can be found here