Activities of John PURVIS related to 2008/0153(COD)
Plenary speeches (1)
Undertakings for collective investment in transferable securities (UCITS) (recast) (debate)
Amendments (6)
Amendment 104 #
Proposal for a directive
Recital 18
Recital 18
(18) Despite the need for consolidation between UCITS to achieve economies of scale and lower costs, mergers of UCITS encounter many legislative and administrative difficulties in the Community. It is therefore necessary, in order to improve the functioning of the Internal Market, to lay down Community provisions facilitating mergers between UCITS (and investment compartments thereof). Although some Member States have authorised only contractual funds, mergers between all types of funds (contractual, corporate and unit trusts) and between funds with differing investment objectives should be allowed and recognised by the laws of each Member State. This Directive covers those merger techniques which are most commonly used in the Member States. It does not prevent UCITS from using other techniques on a domestic or cross-border basis. These will however remain subject to the relevant provisions of national law.
Amendment 201 #
Proposal for a directive
Article 35 – introductory part
Article 35 – introductory part
Member States shall, subject to the conditions set out in this Section and irrespective of the manner in which UCITS are constituted as set out in Article 1(3) and irrespective of their investment policies, allow for mergers between:
Amendment 254 #
Proposal for a directive
Article 53 – paragraph 2 – subparagraph 1 – point b
Article 53 – paragraph 2 – subparagraph 1 – point b
(b) financial derivative instruments in accordance with Article 45(1)(g) and Article 46(2) and (3) taken into account at their accounting value.
Amendment 276 #
Proposal for a directive
Article 55 – paragraph 2
Article 55 – paragraph 2
2. The master UCITS and the feeder UCITS shall take appropriate measures to ensure that no unitscoordinate the timing of eitheir the master UCITS or the feeder UCITS can be issued, sold, re-purchased or redeemed for the same business day after either the master UCITS or the feeder UCITS published the issue, sale, re-purchase or redemption price of its units for that daynet asset value calculation and publication, or employ other recognised techniques such as fair value pricing, in order to avoid market timing in their fund units and prevent arbitrage.
Amendment 335 #
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.
Amendment 337 #
Proposal for a directive
Article 88 – paragraph 6
Article 88 – paragraph 6
For the purpose of the notification procedure set out in this Article, the competent authorities of the Member State in which a UCITS proposes to market its units shall not request any additional documentor require prior approval for any non-marketing documents including contractual documents such as application forms, certificates or other information other than those provided for in this Article.