Merger of an EU UCITS into a UCITS collective investment fund

(1) Where, for a planned merger of an EU UCITS into a UCITS collective investment fund, the competent authorities of the home Member State of the transferring EU UCITS transmit to the Federal Institute copies of the particulars and documents under Article 39(2) of Directive 2009/65/EC, the Federal Institute examines whether appropriate merger information is made available to investors; in doing so, it has regard to the potential effects of the planned merger on the investors of the receiving UCITS collective investment fund. Insofar as the Federal Institute considers an improvement to be necessary, it may require the UCITS capital management company of the receiving UCITS collective investment fund to amend the merger information for the investors of the receiving UCITS collective investment fund within 15 working days of receiving the complete particulars and documents under Article 39(2) of Directive 2009/65/EC.
(2) Where the Federal Institute requires the improvement of the merger information under subsection (1), it must inform the competent authorities of the home Member State of the transferring EU UCITS of this. As soon as it has received a satisfactory improvement of the merger information from the UCITS capital management company of the receiving UCITS collective investment fund, it must inform the competent authorities of the home Member State of the transferring EU UCITS of this, but no later than within 20 working days.