(1) UCITS capital management companies or externally managed UCITS investment stock corporations that, on the entry into force of this Act, conduct the business listed in section 17(1) and section 20(2) and have received a licence under section 7 of the Investment Act in the version in force until 21 July 2013, or a licence as an investment stock corporation under section 97(1) of the Investment Act in the version in force until 21 July 2013, do not require a fresh licence to conduct business; the licence under sections 20, 21, or section 113 is deemed granted to that extent.
(2) The investment conditions for domestic UCITS set up before 22 July 2013 within the meaning of section 343(4) must be adapted to the provisions of this Act. No amendments other than those necessary to adapt the investment conditions to the provisions of this Act may be made to the investment conditions. The amendments need not be approved, provided these investment conditions have already been approved under section 43(2) and section 43a of the Investment Act in the version in force until 21 July 2013, and the adaptations are of a merely editorial nature made on account of adaptations to the terminology of this Act. Where approval of the investment conditions is not required under the third sentence, the UCITS capital management companies and EU UCITS management companies must editorially adapt the investment conditions to the legal provisions of this Act by 31 December 2014. Section 163(1) to (3) and (4), second to fifth sentence, sixth sentence, second half-sentence, and seventh sentence, does not apply to these amendments. Where the investment conditions must be adapted to the requirements of sections 200 to 203, these amendments require approval; the adaptations must be made within six months of 22 July 2013. Section 163 applies to the approval of the investment conditions, with the proviso that the period named in subsection (2), first sentence, is three months, and that subsection (2), fifth, sixth, and ninth sentence, and subsection (3), (4), second to fifth sentence, do not apply. In addition, the UCITS capital management companies and EU UCITS management companies must adapt the key investor information and the sales prospectus to the provisions of this Act at the same time as the investment conditions, and must jointly submit these documents to the Federal Institute without delay after their first use. Where the amendments to the investment conditions do not require approval by the Federal Institute, the UCITS capital management companies and the EU UCITS management companies must submit the editorially adapted investment conditions to the Federal Institute at the same time. Until the amendments to the investment conditions of the domestic UCITS managed by a UCITS management company within the meaning of subsection (1) enter into force, the provisions of the Investment Act in the version in force until 21 July 2013 applicable to domestic UCITS continue to apply to these domestic UCITS. From the entry into force of the amended investment conditions, the provisions applicable to domestic UCITS under this Act apply to these domestic UCITS.
(3) The depositary of a domestic UCITS already set up does not require approval, provided it has already been approved under section 21(1) of the Investment Act in the version in force until 21 July 2013.
(4) UCITS management companies that, on the entry into force of this Act, have made a notification through the competent bodies of the EU UCITS's home State under section 132(1) of the Investment Act in the version in force until 21 July 2013, or under section 15c(1) of the Foreign Investment Act in the version in force until 31 December 2003, and are entitled to public marketing, need not transmit a fresh notification under section 310; a marketing right already obtained continues to exist. UCITS management companies that, after 21 July 2013, carry out or have carried out, in respect of their EU UCITS, activities that did not count as public marketing under the Investment Act in the version in force until 21 July 2013, but are to be regarded as marketing under this Act, transmit a notification under section 310 through the competent bodies of the EU UCITS's home Member State by 21 July 2014.
(5) The investment conditions, the key investor information, and the sales prospectus for domestic UCITS must be adapted, by 18 March 2016, to the version of this Act in force from 18 March 2016. The application for approval of the amended investment conditions may, besides editorial changes, contain only such amendments to the investment conditions as are necessary for adaptation to the requirements of the version of this Act in force from 18 March 2016. Section 163(3) and (4), second to fifth sentence, does not apply.
(6) Section 206(3), first sentence, in the version in force from 8 July 2022, applies to debt securities issued after 7 July 2022. Section 206(3), first sentence, in the version in force until 7 July 2022, applies to debt securities issued before 8 July 2022.
Subdivision 5
Other Transitional Provisions