(1) Instead of the termination of the right of management and the winding-up of the collective investment fund by the depositary under sections 99 and 100, the capital management company may, with the approval of the Federal Institute, transfer the collective investment fund, where it is owned by the capital management company, or the right of management and disposal over the collective investment fund, where it is co-owned by the investors, in accordance with the existing investment conditions, to another capital management company (transferee capital management company). The transferee capital management company must hold authorisation to manage this type of investment fund. Section 100(3), second to fifth sentence, applies correspondingly. The approval under the first sentence must be granted within a period of eight weeks of receipt of the application for approval, where the statutory requirements for approval are satisfied and the application was submitted by the transferring capital management company. Section 163(2), second and fourth sentence, applies correspondingly.
(2) The capital management company must publish the transfer of retail investment funds in the Federal Gazette, and additionally in the annual report or half-yearly report and in the electronic information media named in the sales prospectus. Publication may take place only once the Federal Institute has granted the approval under subsection (1).
(3) The time at which the transfer becomes effective is determined by the contractual agreement between the capital management company and the transferee capital management company. The transfer may become effective, for retail collective investment funds, at the earliest upon the expiry of three months after publication in the Federal Gazette under subsection (2), first sentence, and for special collective investment funds, at the earliest upon notification of the transfer to the Federal Institute.
(4) A change of depositary requires the approval of the Federal Institute for retail collective investment funds.