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Section 129

Management and investment

(1) The open-ended investment limited partnership may appoint an external capital management company corresponding to its object of undertaking. This company is in particular responsible for the investment and management of the limited partnership's investment assets. The appointment of the external AIF capital management company does not constitute a case under section 36. The external AIF capital management company is entitled to terminate the management of the funds of the open-ended investment limited partnership. Section 99(1) to (4) applies correspondingly.

(2) Section 100 applies correspondingly, with the proviso that the right of management and disposal over the partnership's assets passes to the depositary for winding-up only where the open-ended investment limited partnership does not convert into an internally managed open-ended investment limited partnership, or does not appoint another external AIF capital management company, and this has been notified to the Federal Institute in each case. Where another external AIF capital management company is appointed, section 100b(1), first to third sentence, (2) and (3) applies correspondingly.

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