28. (1) Neither a body that is not an authorised ICAV nor an individual shall carry on any business under a name which includes, as its last part, the words “Irish Collective Asset-management Vehicle” or the abbreviation “ICAV”.

(2) Neither a body that is not an ICAV nor an individual shall in any other manner make a representation that the body or the individual is an ICAV.

(3) A person who contravenes subsection (1) or (2) commits a category 2 offence.