Articles of association

(1) The articles of association of the investment stock corporation with variable capital must contain the provision that the amount of the share capital corresponds to the value of the company's assets. The value of the company's assets corresponds to the sum of the respective market values of the assets belonging to the company's assets, less loans raised and other liabilities.
(2) The object of the undertaking laid down in the articles of association of the investment stock corporation with variable capital must consist exclusively of the investment and management of its funds according to a fixed investment strategy and the principle of risk diversification for collective investment, for the benefit of its shareholders, 1. for UCITS investment stock corporations with variable capital, under Chapter 2, Divisions 1 and 2, 2. for AIF retail investment stock corporations with variable capital, under Chapter 2, Divisions 1 and 3, and 3. for special investment stock corporations with variable capital, under Chapter 3, Divisions 1 and 2, and, where it is an open-ended development promotion fund, under sections 292a to 292c. The articles of association must provide that shareholders have a right to redeem their shares in accordance with the requirements of this Act.
(3) The articles of association of special investment stock corporations with variable capital must additionally provide that the shares may be acquired exclusively by professional investors and semi-professional investors.
(4) Amendments to the articles of association of a UCITS investment stock corporation require approval. Section 163(2), first, second, and fourth to eighth sentence, applies correspondingly.