(1) Where an AIF capital management company intends to market units or shares in a domestic retail AIF managed by it within the scope of this Act, it must notify the Federal Institute of this. The notification letter must comply with Annex I to Implementing Regulation (EU) 2024/913.
(2) The Federal Institute examines whether the particulars and documents transmitted under subsection (1) are complete. The Federal Institute requests any missing particulars and documents within a period of 20 working days after the day on which all of the following conditions are satisfied, as a supplementary notification:
1. receipt of the notification,
2. approval of the investment conditions, and
3. approval of the depositary. On receipt of the supplementary notification, the period named in the second sentence begins to run afresh. The supplementary notification must be submitted to the Federal Institute within six months of the notification, or of the most recent supplementary notification, being made; otherwise, a communication under subsection (3) is excluded. The period under the fourth sentence is a preclusive period. A fresh notification is possible at any time.
(3) Within 20 working days of receipt of the complete notification documents under subsection (1), and of the approval of the investment conditions and of the depositary, the Federal Institute informs the AIF capital management company whether it may commence the marketing, within the scope of this Act, of the AIF named in the notification letter under subsection (1). The Federal Institute may prohibit the commencement of marketing within the period named in the first sentence where the AIF capital management company, or the management of the notified AIF by the AIF capital management company, infringes the provisions of this Act. Where it communicates corresponding objections to the particulars and documents submitted to the AIF capital management company within the period of the first sentence, the period is interrupted and the period named in the first sentence begins to run afresh on submission of the amended particulars and documents. The AIF capital management company may commence the marketing, within the scope of this Act, of the notified AIF from the date of the corresponding communication under the first sentence.
(4) On a change to the particulars or documents transmitted under subsection (1), the AIF capital management company informs the Federal Institute of this change and, where applicable, transmits updated particulars and documents to the Federal Institute at the same time. Planned changes must be notified at least 20 working days before the change is implemented, and unplanned changes without delay after they occur. Where the AIF capital management company, or the management of the relevant AIF, would infringe this Act as a result of the planned change, the Federal Institute informs the AIF capital management company without delay that it may not implement the change. Where a planned change is implemented notwithstanding the first to third sentences, or where a change triggered by an unforeseeable circumstance results in the AIF capital management company, or the management of the relevant AIF, now infringing this Act as a result of that change, the Federal Institute takes all measures required under section 5, including the express prohibition of the marketing of the relevant AIF.
(5) Where the change under subsection (4) relates to an important new circumstance or a material inaccuracy concerning the particulars contained in the sales prospectus of a domestic closed-ended retail AIF that could influence the assessment of the investment fund or the AIF capital management company, this change must also be published without delay in the Federal Gazette and in a sufficiently widely circulated financial or daily newspaper, or in the electronic information media to be designated in the sales prospectus, as a supplement to the sales prospectus, which must name the recipient of the revocation, contain a notice of where the supplement is available for free issue, and, in a prominent place, also contain a notice of the right of revocation.