Transactions requiring consent

(1) The UCITS capital management company may carry out the following transactions only with the consent of the depositary:
1. the raising of loans under section 199, insofar as this does not involve foreign-currency overdrafts,
2. the investment of funds of the domestic UCITS in bank balances at other credit institutions, and dispositions over such bank balances.
(2) The depositary must consent to the transactions under subsection (1) where they satisfy the requirements named there and are consistent with the further provisions of this Act and with the investment conditions. Where it consents to a disposition even though the conditions of the first sentence are not satisfied, this does not affect the validity of the disposition. A disposition made without the consent of the depositary is invalid as against investors. The provisions in favour of persons deriving rights from a person not entitled apply correspondingly.