Notification obligations of management companies to the Federal Institute and the Bundesbank

(1) A capital management company must notify the Federal Institute of all material changes to the conditions for authorisation, in particular material changes to the particulars submitted under section 21(1) and section 22(1), before the change is implemented.
(2) Where the Federal Institute decides to prescribe restrictions or to reject a change notified under subsection (1), it must inform the capital management company of this within one month of receipt of the notification. The Federal Institute may extend this period by up to one month, where it considers this necessary on account of the particular circumstances of the individual case of the capital management company. It must inform the capital management company of the extension of the period under the second sentence.
(3) Without prejudice to the provisions of subsection (1), a capital management company must notify the Federal Institute without delay of:
1. the completion of the appointment of a person as manager;
2. the departure of a manager;
3. the acquisition and the relinquishment of a direct or indirect participation in another undertaking; the direct or indirect holding of at least 25 percent of the shares in the capital or voting rights of the other undertaking is regarded as a participation;
4. the change of legal form and of the firm name;
5. for external UCITS capital management companies and AIF capital management companies that manage retail AIFs, and for externally managed investment companies that are retail AIFs, every change to their articles of association or their partnership agreement;
6. a reduction of own funds below the thresholds provided for in section 25 or, in the case of section 5(2), first sentence, under section 5(2), second or third sentence, of this Act in conjunction with section 17(1), point 2 or 3, of the Securities Institutions Act;
7. the relocation of the branch establishment or of the seat, the establishment, relocation, or closure of a branch office in a third country, and the commencement or termination of the cross-border provision of services without the establishment of a branch office;
8. the discontinuation of business operations;
9. the intention of its managers to bring about a decision on the dissolution of the capital management company;
10. the acquisition or the relinquishment of a significant participation in the company itself, the reaching, exceeding, or falling below the participation thresholds of 20 percent, 30 percent, and 50 percent of the voting rights or of the capital, and the fact that the capital management company becomes, or ceases to be, a subsidiary of another undertaking, insofar as the capital management company becomes aware of the impending change to these participation relationships;
11. the intention to merge with another capital management company.
(4) The capital management company must notify the Federal Institute annually of:
1. the name and address of the holders of significant participations in it, and the amount of their participation,
2. the establishment, relocation, or closure of a domestic branch office, and
3. the establishment, change, or termination of a close link.
(5) The managers and the members of the supervisory bodies of the capital management company must notify the Federal Institute without delay of:
1. the commencement and the termination of their activity as manager or as member of a supervisory body or board of directors of another undertaking,
2. the initiation of investigation proceedings against them as manager or as member of a supervisory body, as soon as the manager or the member of the supervisory body becomes aware of the initiation of the investigation proceedings against them as a suspect, and
3. the acquisition and the relinquishment of a direct participation in an undertaking, and changes in the amount of the participation. A holding of at least 25 percent of the shares in the capital of the undertaking is regarded as a direct participation within the meaning of the first sentence, point 3.
(6) Section 14 of the Banking Act applies correspondingly to AIF capital management companies that grant monetary loans, or acquire unsecuritised loan receivables, for the account of an AIF.