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Section 324

Notification duty of an EU AIF management company on the intended marketing, to semi-professional and professional investors domestically, of foreign AIF or of domestic special feeder AIF or EU feeder AIF whose respective master AIF is not an EU AIF or a domestic AIF managed by an EU AIF management company or an AIF capital management company

(1) The marketing, by an EU AIF management company, of units or shares in foreign AIF, and of units or shares in domestic special feeder AIF or EU feeder AIF whose respective master AIF is not an EU AIF or a domestic AIF managed by an EU AIF management company or an AIF capital management company, to semi-professional or professional investors within the scope of this Act, is permissible only where the conditions named in section 322(1) are satisfied. Where the Federal Institute does not agree with the assessment, by the competent authority of the EU AIF management company's home Member State, of the conditions named in section 322(1), points 1 and 2, the Federal Institute may request assistance from the European Securities and Markets Authority under Article 19 of Regulation (EU) No 1095/2010.
(2) Where an EU AIF management company intends to market the AIF named in subsection (1), first sentence, to semi-professional or professional investors within the scope of this Act, the Federal Institute examines whether the competent authority of the EU AIF management company's home Member State has transmitted a certificate issued by it concerning the licence of the relevant EU AIF management company to manage AIF with a particular investment strategy, and a notification letter for each AIF, in each case in a language customary in the international financial world. Section 323(1), second sentence, applies correspondingly.
(3) Section 323(2), first and third sentences, and (3) applies correspondingly.

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