7 Amendments of Thomas MANN related to 2008/0153(COD)
Amendment 96 #
Proposal for a directive
Recital 9
Recital 9
(9) By virtue of the principle of home Member State supervision, management companies authorized in their home Member States should be permitted to carry on the services for which they have received authorization throughout the Community by establishing branches or under the freedom to provide services. The competent authorities of the UCITS home Member State should approve the choice of the management company. Those competent authorities should not require additional conditions as regards the choice of the management company, nor should they require the management company to have its registered office in the UCITS home Member State. The management company should not be required to perform any activities in the UCITS home Member State. The approval of the fund rules of common funds/unit trusts falls within the competence of the management company'sUCITS home Member State.
Amendment 136 #
Proposal for a directive
Article 5 - paragraph 2
Article 5 - paragraph 2
2. A common fund shall be authorised only if the competent authorities have approved the management company,of its home Member State have approved the fund rules and the choice of management company and depositary. An investment company shall be authorised only if the competent authorities of the UCITS home Member State have approved both its instruments of incorporation and the choice of depositary. and, where applicable, the choice of the designated management company.
Amendment 160 #
Proposal for a directive
Article 15 - paragraph 1 - subparagraph 1 a (new)
Article 15 - paragraph 1 - subparagraph 1 a (new)
Amendment 237 #
Proposal for a directive
Article 42 – paragraph 1
Article 42 – paragraph 1
1. The laws of Member States shall provide that unit-holders of both the merging UCITS and the receiving UCITS have the right to request the repurchase or redemption of their units or, where possible, to convert them into units in another UCITS of the same group with similar investment policies, without charge. This right shall become effective from the moment the unit-holders of the merging UCITS and, where applicable, those of the receiving UCITS, have been informed of the proposed merger. It shall cease to exist on a date agreed by the competent authority of the merging UCITS, being on or before the effective date of the merger.
Amendment 277 #
Proposal for a directive
Article 55 – paragraph 3
Article 55 – paragraph 3
3. If a master UCITS temporarily suspends the re-purchase or, redemption or subscription of its units, whether at its own initiative or at the request of its competent authorities, each of its feeder UCITS is entitled to suspend the re-purchase or, redemption or subscription of its units notwithstanding the conditions laid down in Article 79(2) within the same period of time as the master UCITS. The feeder UCITS’s entitlement to suspend subscriptions is without prejudice to the fundamental right of the feeder UCITS to decide independently at any time on a suspension of subscriptions.
Amendment 320 #
Proposal for a directive
Article 75 – paragraph 2
Article 75 – paragraph 2
2. Member States shall require that an investment company and, for each of the common funds it manages, a management company, which does not sell UCITS directly or through a tied agent to investors, deliverprovides key investor information to product manufacturers and intermediaries selling or advising investors on potential investments in such UCITS or in products offering exposure to such UCITS, so as to enable them to provide all relevant information on the proposed investment to their clients or potential clients, in compliance with any information obligations applicable to them under the relevant Community and national lawlaw, in particular Article 34 of Directive 2006/73/EC and national law. Such obligation shall apply only towards intermediaries with whom a UCITS or its management company has a contractual relationship pertaining to distribution of UCITS.
Amendment 334 #
Proposal for a directive
Article 88 – paragraph 3 – subparagraph 2
Article 88 – paragraph 3 – subparagraph 2
The competent authorities of the UCITS home Member State shall transmit the complete documentation referred to in paragraphs 1 and 2 to the competent authorities of the Member State in which the UCITS proposes to market its units, no later that one monthn three working days after the date of receipt of the notification letter. They shall enclose to the documentation an attestation that the UCITS fulfils the conditions imposed by this Directive.