Duties of the capital management company and the depositary

(1) The capital management company must effectively monitor the investments of the closed-ended master fund for a closed-ended feeder fund managed by it. To perform this duty, it may rely on information and documents from the management company of the closed-ended master fund, its depositary, or its auditor, unless there are reasons to doubt the accuracy of this information and these documents.
(2) The capital management company managing a closed-ended master fund may charge neither a front-end load for the investment of the closed-ended feeder fund in units of the closed-ended master fund, nor a redemption charge for the redemption. Where the capital management company managing a closed-ended feeder fund, or a person acting in its name, receives a distribution fee, a distribution commission, or another benefit in money's worth in connection with an investment in units of the closed-ended master fund, these must be paid into the assets of the closed-ended feeder fund.
(3) The capital management company must inform the Federal Institute without delay of every closed-ended feeder fund investing in units of the closed-ended master fund managed by it.
(4) The capital management company must ensure, for a closed-ended master fund managed by it, that all information required under legislation of the European Union, under the applicable domestic provisions, the investment conditions, or the articles of association, is made available in good time to the following bodies: 1. the management company of the closed-ended feeder fund, 2. the Federal Institute, 3. the depositary of the closed-ended feeder fund, and 4. the auditor of the closed-ended feeder fund.
(5) A capital management company need not offer to the public units in a closed-ended master fund in which at least two closed-ended feeder funds are invested.
(6) The capital management company of a closed-ended feeder fund must communicate to the depositary of the closed-ended feeder fund all information about the closed-ended master fund that is necessary for the performance of the depositary's duties. The depositary of a domestic closed-ended master fund must directly inform the Federal Institute, the management company of the closed-ended feeder fund, and the depositary of the closed-ended feeder fund of all irregularities it identifies with regard to the master fund that could have a negative effect on the closed-ended feeder fund. To perform the tasks under this subsection, the depositary of the closed-ended master fund may also disclose personal data to the Federal Institute, the management company of the closed-ended feeder fund, and the depositary of the closed-ended feeder fund. The personal data must be pseudonymised before disclosure, unless this would be contrary to the performance of the tasks under this subsection. The Federal Institute, the management company of the closed-ended feeder fund, and the depositary of the closed-ended feeder fund may store and use personal data disclosed to them under the third sentence, insofar as this is necessary to perform their tasks under this subsection.