Management of EU AIF by AIF capital management companies

(1) Where an AIF capital management company holding authorisation under sections 20 and 22 intends, for the first time, to manage EU AIF by way of the cross-border provision of services, or to provide services and ancillary services under section 20(3), first sentence, point 2 to 5, it transmits to the Federal Institute the particulars under Article 1 of Delegated Regulation (EU) 2024/912 and under Annex III of Implementing Regulation (EU) 2024/913.
(2) Where an AIF capital management company intends to establish a branch in another Member State of the European Union or in another contracting state of the Agreement on the European Economic Area, it must transmit to the Federal Institute the particulars under Article 2 of Delegated Regulation (EU) 2024/912 and under Annexes III and V of Implementing Regulation (EU) 2024/913.
(3) Where there is no reason to assume that the management of the EU AIF by the AIF capital management company, or the provision of services and ancillary services under section 20(3), point 2 to 5, infringes or will infringe this Act, the Federal Institute transmits these particulars, together with a certificate concerning the authorisation of the AIF capital management company concerned, to the competent authorities of the AIF capital management company's host Member State within one month of receipt of the complete documents under subsection (1), or within two months of receipt of the complete documents under subsection (2).
(4) The Federal Institute informs the AIF capital management company without delay of the transmission of the documents. The AIF capital management company may not commence the management of EU AIF, or the provision of services and ancillary services, until immediately after receipt of the transmission notification in the respective host Member State.
(5) The AIF capital management company must notify the Federal Institute of any change to the particulars transmitted under subsection (1) or subsection (2) at least one month before the planned changes are carried out. In the case of unplanned changes, the AIF capital management company must notify the Federal Institute of the change immediately after the change occurs.
(6) Where the planned change would result in the AIF capital management company, the management of the EU AIF, or the provision of the services and ancillary services infringing this Act or provisions issued on the basis of this Act, the Federal Institute prohibits the AIF capital management company from making the change within 15 working days of receipt of all the particulars named in subsection (5).
(7) Where a planned change is carried out notwithstanding subsections (5) and (6), or where a change triggered by an unforeseeable circumstance would result in the AIF capital management company, the management of the EU AIF, or the provision of the services and ancillary services now infringing this Act or provisions issued on the basis of this Act, the Federal Institute takes suitable measures and informs the competent authorities of the AIF capital management company's host Member State without delay accordingly.
(8) The Federal Institute informs the competent authorities of the AIF capital management company's host Member State without delay of changes that are consistent with this Act.