natgillin/translations-raw huggingface dataset:
Det er kun den kompetente myndighed, der kan gribe hurtigt ind i administrationsselskabet for at løse problemet og undgå at bringe de berørte investeringsinstitutter i fare.
Only the competent authority of the management company is able to intervene quickly at the level of the management company to solve such a problem and avoid endangering all the concerned UCITS.
Den kompetente myndighed bør derfor sikre, at et administrationsselskab på grundlag af sin organisation, herunder risikostyringsprocedurer, er i stand til at overholde de regler, der gælder for alle de investeringsinstitutter, det administrerer.
Therefore, the competent authority of the management company should make sure that, given its organization – including its risk management procedures -, the management company is in a position to comply the rules applicable to all UCITS it manages.
Artikel 17 b (ny)
Article 17 b (new)
Artikel 17b
Article 17b
Et administrationsselskab, der har opnået godkendelse i en anden medlemsstat end investeringsinstituttets hjemland, og som yder grænseoverskridende forvaltningstjenester for investeringsinstituttet i henhold til reglerne om fri udveksling af tjenesteydelser eller ved etablering af en filial, skal overholde de regler i investeringsinstituttets hjemland, der omhandler investeringsinstitutters oprettelse og drift.
A management company authorised in a Member State other than the UCITS' home Member State which provides cross-border management services for the UCITS through the free provision of services or by the establishment of a branch shall comply with the rules of the UCITS' home Member State which relate to the constitution and functioning of the UCITS.
Administrationsselskabet skal overholde de forpligtelser, der er angivet i fondsbestemmelserne og prospektet.
The management company shall comply with the obligations set out in the fund rules and in the prospectus.
De kompetente myndigheder i investeringsinstituttets hjemland har ansvaret for at føre tilsyn med, at stykke 1 og 2 overholdes.
The competent authorities of the UCITS' home Member State shall be responsible for supervising compliance with paragraphs 1 and 2.
For at skabe klarhed omkring investeringsinstitutters nationalitet og sikre en passende kontrol, er der behov for overensstemmelse mellem: 1) fondens hjemsted, 2) den lovgivning, der finder anvendelse på investeringsinstitutters oprettelse og drift, og 3) de kompetente myndigheder, der har ansvaret for godkendelsen af investeringsinstitutter og for håndhævelsen af regler vedrørende investeringsinstitutters oprettelse og drift.
In order to ensure clarity of the nationality of the UCITS and proper supervision, consistency is needed between: 1/ the domicile of the fund; 2/ the law applicable to the constitution and the functioning of the UCITS and 3/ the competent authorities responsible for authorizing the UCITS and enforcing the rules regarding constitution and functioning of the UCITS.
Artikel 17 c (ny)
Article 17 c (new)
Artikel 17c
Article 17c
Et administrationsselskab, der ansøger om godkendelse til at administrere et investeringsinstitut, der er etableret i en anden medlemsstat, skal forelægge følgende dokumenter for de kompetente myndigheder i investeringsinstituttets hjemland:
A management company which applies for approval to manage a UCITS established in another Member State shall provide the competent authorities of the UCITS' home Member State with the following documentation:
a) en rapport om den risikostyringsprocedure, der er vedtaget for den specifikke type investeringsinstitut, der søges godkendt;
(a) a report on the risk management process adopted with respect to the specific type of UCITS for which the approval is requested;
b) en skriftlig aftale med depositaren, der skal sikre tilstrækkelig information mellem administrationsselskabet og depositaren, således at denne kan varetage de opgaver, der er fastsat i dette direktiv;
(b) a written agreement with the depositary which shall ensure the proper flow of information between the management company and the depositary and, hence, allow the depositary to perform the duties assigned to it by this Directive;
c) oplysninger om delegeringsordninger for driftsfunktioner.
(c) information on delegation arrangements for operational functions.
De kompetente myndigheder i investeringsinstituttets hjemland underretter senest 30 dage efter modtagelsen af en komplet ansøgning både administrationsselskabet og de kompetente myndigheder i administrationsselskabets hjemland om, hvorvidt administrationsselskabet er blevet godkendt.
The competent authorities of the UCITS' home Member State shall inform both the management company and the competent authorities of the management company’s home Member State, within one month of the submission of a complete application, whether or not the management company has been approved.
Hvis godkendelse nægtes, skal dette begrundes.
Reasons shall be given whenever approval is not granted.
For at kunne godkende et investeringsinstitut er der behov for visse oplysninger om administrationsselskabet.
In order to authorize the UCITS, some information on the management company is needed.
Det er særlig vigtigt at bekræfte, at depositaren er i stand til at udføre sine tilsynsopgaver.
It is especially important to confirm that the depositary is in a position to perform its oversight duties.
For at kunne respektere de traktatfæstede frihedsrettigheder bør valget af administrationsselskab foretages inden for en klar tidsramme.
In order to fulfil the freedom established by the EC Treaty, the assessment of the choice of the management company should be made in a clear timeframe.
Depositaren skal være et foretagende under løbende tilsyn.
A depositary shall be an institution which is subject to ongoing supervision .
Der bør føres behørigt tilsyn med depositaren.
Proper supervision of the depositary should be ensured.
Depositaren yder tilstrækkelig finansiel og faglig sikkerhed for reelt at kunne udøve hvervet som depositar og til at kunne opfylde de forpligtelser, der følger med bestridelsen af dette hverv.
It shall also furnish sufficient financial and professional guarantees to be able effectively to pursue its business as depositary and meet the commitments inherent in that function.
Artikel 34 – indledning
Article 34 – introductory part
Bestemmelserne i dette kapitel finder anvendelse på alle følgende transaktioner, herefter benævnt "fusioner":
This Chapter shall apply in relation to any of the following operations, hereinafter "mergers":
Bestemmelserne i dette kapitel finder anvendelse på grænseoverskridende fusioner og nationale fusioner, når enten det ophørende eller det fortsættende investeringsinstitut er blevet anmeldt i overensstemmelse med artikel 88.
This Chapter shall apply to cross-border mergers as well as domestic mergers when either the merging UCITS or the receiving UCITS has been notified pursuant to Article 88.
I dette kapitel betyder "fusioner":
For the purposes of this Chapter, "mergers" shall mean :
Til gengæld bør de rent nationale fusioner udelukkes fra direktivets anvendelsesområde.
En revanche les fusions purement nationales ne devraient pas être incluses dans le champ d’application de la directive.
Artikel 36 – stk. 2 – litra c
Article 36 – paragraph 2 – point c
c) et certifikat udstedt af det ophørende og det fortsættende investeringsinstituts depositarer , hvori de bekræfter, at de har kontrolleret, at det fælles udkast til fusionsplan er i overensstemmelse med nærværende direktiv, og at de har kontrolleret deres respektive investeringsinstitutters fondsbestemmelser og vedtægter , og hvori de anfører deres konklusioner i denne henseende
(c) a certificate issued by the depositaries of the merging and the receiving UCITS confirming that they have verified compliance of the common draft terms of merger with this Directive and the fund rules or instruments of incorporation of their respective UCITS and indicating their conclusions in this respect ;
c) en erklæring udstedt af hver enkelt depositar for det ophørende og det fortsættende investeringsinstitut , hvori de bekræfter, at de i henhold til artikel 38 har kontrolleret, at det fælles udkast til fusionsplan er i overensstemmelse med oplysningerne i artikel 37, stk. 1, litra c), f) og g) i nærværende direktiv, og at de har kontrolleret deres respektive investeringsinstitutters fondsbestemmelser og vedtægter
(c) a statement by each of the depositaries of the merging and the receiving UCITS confirming that , in accordance with Article 38, they have verified compliance of the common draft terms of merger with the particulars listed in Article 37(1), points (c), (f) and (g) of this Directive and the fund rules or instruments of incorporation of their respective UCITS;
Den erklæring, som udstedes af hver enkelt depositar, skal være præcis, da nogle af de punkter, der henvises til i artikel 37, stk. 1, henhører under revisorernes og i sidste ende administrationsselskabernes roller og forpligtelser.
The scope of the statement delivered by each of the depositary should be precise as certain elements cited in Article 37 paragraph 1 come under the roles and duties of the auditors, and ultimately the management company.
I modsætning til depositarerne harmoniseres revisorernes roller, forpligtelser og ansvar desuden på europæisk plan med direktiv 2006/43/EF.
Moreover, the roles, duties and responsibilities of auditors are harmonised at a European level trough the Directive 2006/43/CE, unlike depositaries.
Formålet med dette ændringsforslag er at undgå forskellige godkendelses- og kontrolniveauer i medlemsstaterne.
This amendment proposal aims at avoiding different levels of validation and verification from one Member State to another.
Medlemsstaterne kræver, at det ophørende og det fortsættende investeringsinstituts ledelsesorganer eller administrative organer udarbejder en fælles fusionsplan.
Member States shall require that the management or administrative body of the merging UCITS and of the receiving UCITS draw up common draft terms of merger.
a) fusionens art og de involverede investeringsinstitutter
(a) identification of the type of merger and of the UCITS involved;
b) baggrunden og begrundelsen for den påtænkte fusion
(b) the background to and the rationale for the proposed merger;
c) den forventede virkning , herunder skattebehandlingen, af den påtænkte fusion for deltagerne i både det ophørende og det fortsættende investeringsinstitut
(c) the expected impact , including the tax treatment, of the proposed merger on the unit-holders of both the merging UCITS and the receiving UCITS;
e) metoden til beregning af ombytningsforholdet
(e) the calculation method of the exchange ratio;
f) den planlagte dato for fusionens gennemførelse
(f) the planned effective date of the merger;
fa) de gældende regler for overførsel af dele
(fa) the rules applicable for the transfer of units;
Oplysningerne i litra c), f) og g) skal tilvejebringes af depositarerne under hensyntagen til bestemmelserne i artikel 36, stk. 2, litra c).
The particulars listed in points (c), (f) and (g) shall be provided by the depositary, taking into account the provisions of Article 36(2), point (c).
Oplysningerne i litra d) og e) skal tilvejebringes af den uafhængige revisor under hensyntagen til bestemmelserne i artikel 39, stk. 1.
The particulars listed in points (d) and (e) shall be provided by the independent auditor, taking into account the provisions of Article 39(1).
Oplysningerne i litra a), b) og g) skal tilvejebringes under administrationsselskabets ansvar.
The particulars listed in points (a), (b) and (g) shall be provided under the responsibility of the management company.
For at sikre at udviklingen af grænseoverskridende fusioner ikke kommer til at ske på bekostning af investorens sikkerhed, og at fusionen sker under de mest optimale forhold, skal det fælles udkast til en fusionsplan klarlægge alle virkninger af fusionen for deltagerne, både hvad angår overførselsbetingelser og den skattemæssige virkning.
To guarantee that the development of cross-border mergers is not realised to the detriment of the protection of the investor, the common draft terms must identify all the impacts on the merger for the unit-holders, from a point of view of the conditions of transfer of the units and of the tax impacts to realise the merger under optimal conditions.
Det er også nødvendigt at præcisere rollerne for fusionens aktører for at sikre retssikkerheden.
The role of the actors of the merger should be also precise to ensure the legal certainty of the operation.
Artikel 39 – stk. 1 – litra b
Article 39 – paragraph 1 – point b
b) metoden til beregning af ombytningsforholdet og resultatet af beregningen .
(b) the calculation method of the exchange ratio and the outcome of that calculation .
Den uafhængige revisor skal ud over at kontrollere metoden kontrollere resultaterne af beregningen af ombytningsforholdet for at undgå, at deltagernes situation fastlægges på forkert grundlag.
The independent auditor, in addition to the method, must verify the outcome of the exchange ratio calculation in order to avoid the situation of the unit-holders being determined on an erroneous basis.
Artikel 40 – stk. 4
Article 40 – paragraph 4
De oplysninger, der udleveres til det ophørende investeringsinstituts deltagere og eventuelt det fortsættende investeringsinstituts deltagere, skal omfatte relevante og nøjagtige oplysninger om den påtænkte fusion, således at de på et kvalificeret grundlag kan tage stilling til fusionens potentielle konsekvenser for deres investering og udøve deres rettigheder i henhold til artikel 41 og 42.
The information to be provided to unit-holders of the merging UCITS and, where applicable, the receiving UCITS, shall include appropriate and accurate information on the proposed merger such as to enable them to take an informed decision on the possible impact thereof on their investment and to exercise their rights under Articles 41 and 42.
a) oplysninger om baggrunden og begrundelsen for den påtænkte fusion
(a) the background to and the rationale for the proposed merger;
b) oplysninger om fusionens potentielle følger for deltagerne, herunder, men ikke kun, eventuelle væsentlige forskelle i henseende til investeringspolitik og investeringsstrategi, omkostninger, det forventede resultat, periodiske beretninger og en eventuel udvanding af investeringsinstituttets resultater foruden skattebehandling
(b) the possible impact of the proposed merger on unit-holders, including but not limited to any material differences in respect of investment policy and strategy, costs, expected outcome, periodic reporting and possible dilution in performance , and tax treatment ;
c) oplysninger om de specifikke rettigheder, som deltagerne måtte have i relation til den påtænkte fusion, herunder, men ikke kun, retten til at modtage supplerende oplysninger, retten til at erhverve en kopi af den uafhængige revisors beretning og retten til at anmode om tilbagekøb eller indløsning af andele uden beregning som omhandlet i artikel 42
(c) any specific rights unit-holders have in relation to the proposed merger, including but not limited to the right to obtain additional information ; the right to obtain a copy of the report of the independent auditor on request, and the right to request the repurchase or redemption of their units without charge as specified in Article 42;
c) oplysninger om de specifikke rettigheder, som deltagerne måtte have i relation til den påtænkte fusion, herunder, men ikke kun, retten til at modtage supplerende oplysninger, retten til at erhverve en kopi af den uafhængige revisors beretning , retten til at anmode om tilbagekøb eller indløsning af andele uden beregning som omhandlet i artikel 42 og den sidste frist for udøvelse af denne rettighed
(c) any specific rights unit-holders have in relation to the proposed merger, including but not limited to the right to obtain additional information, the right to obtain a copy of the report of the independent auditor on request, the right to request the re-purchase or redemption of their units without charge as specified in Article 42 and the deadline for exercising that right ;
d) relevante proceduremæssige oplysninger , herunder proceduren for overførsel af andele, og oplysninger om den planlagte dato for fusionens gennemførelse
(d) the relevant procedural aspects , including the procedure for the transfer of units, and the planned effective date of the merger;
e) en kopi af den i artikel 73 omhandlede centrale investorinformation fra det fortsættende investeringsinstitut.
(e) a copy of the key investor information referred to in Article 73 of the receiving UCITS.
De oplysninger, der udleveres til deltagerne, skal også omhandle proceduren for overførsel af andele og den skattemæssige virkning (dette går primært ud på at oplyse deltageren om ændringer i skatteordningen).
The information transmitted to the unit-holders must also concern the procedure for the transfer of units and the tax impacts (this mainly relates to informing the unit-holder of the change to the tax regime).
I Frankrig beskattes deltageren for eksempel af differencen mellem købsprisen i den ophørende fond og salgsprisen i den fortsættende fond.
For example, in France, the unit-holder is taxed on the difference between the purchase price in the merging fund and the selling price in the receiving fund.
I Tyskland beskattes deltageren for kapitalgevinsten på hvert enkelt værdipapir.
In Germany the unit-holder is taxed on the capital gain for each security.
Artikel 41 – afsnit 2
Article 41 – subparagraph 2
1 finder anvendelse, medmindre andet gælder i henhold til national lovgivning vedrørende antallet af fremmødte stemmeberettigede.
The first paragraph shall be without prejudice to any presence quorum provided for under national law .
Medlemsstaterne må ikke pålægge de grænseoverskridende fusioner strengere regler end de nationale fusioner, hvad angår antallet af fremmødte stemmeberettigede.
Member States shall not impose more stringent rules in respect of presence quora for cross-border mergers than for domestic mergers.
Medlemsstaterne kan frit vælge, om de vil fastsætte regler vedrørende antallet af fremmødte stemmeberettigede.
Les Etats membres sont libres d’imposer, ou non, des règles de présence.
I overensstemmelse med princippet om ikkeforskelsbehandling bør reglerne for grænseoverskridende fusioner dog ikke være strengere end reglerne for nationale fusioner.
Toutefois, conformément au principe de non-discrimination, les règles établies pour les fusions transfrontalières ne devraient pas être plus exigeantes que les règles établies pour les fusions nationales.
Et feeder-institut er et investeringsinstitut, der uanset bestemmelserne i artikel 1, stk. 2, litra a), artikel 45, 47 og 50 samt artikel 51, stk. 2, litra c), investerer mindst 85 % af sine aktiver i andele i et andet investeringsinstitut (master-instituttet) eller en investeringsafdeling heraf .
A feeder UCITS is a UCITS which invests, by way of derogation from Article 1(2)(a), Article 45, Article 47, Article 50 and Article 51(2)(c), at least 85 % of its assets in units of another UCITS ("the master UCITS") or an investment compartment thereof .
Et feeder-institut er et investeringsinstitut eller en investeringsafdeling heraf , der uanset bestemmelserne i artikel 1, stk. 2, litra a), artikel 45, 47 og 50 samt artikel 51, stk. 2, litra c), investerer mindst 85 % af sine aktiver i andele i et andet investeringsinstitut eller en investeringsafdeling heraf (master-instituttet).
A feeder UCITS is a UCITS or an investment compartment thereof which invests, by way of derogation from Article 1(2)(a), Article 45, Article 47, Article 50 and Article 51(2)(c), at least 85 % of its assets in units of another UCITS or an investment compartment thereof ("the master UCITS").
Af hensyn til sammenhængen med de andre bestemmelser i direktivet bør et feeder-institut eller et master-institut kunne være enten et investeringsinstitut eller en investeringsafdeling heraf.
Par souci de cohérence avec les autres dispositions de la directive, un fonds nourricier ou un fonds maître devrait pouvoir être, soit un OPCVM, soit un compartiment d’OPCVM.
Artikel 53 – stk. 3 – indledning
Article 53 – paragraph 3 – introductory part
Et master-institut er et investeringsinstitut eller en investeringsafdeling heraf , der
A master UCITS is a UCITS or an investment compartment thereof which:
Hvis feeder-instituttet allerede har udøvet virksomhed som investeringsinstitut, herunder som feeder-institut for et andet master-institut, underrettes feeder-instituttet senest femten dage efter indgivelsen af en komplet ansøgning om, hvorvidt de kompetente myndigheder kan godkende feeder-instituttets investering i master-instituttet eller ej.
If the feeder UCITS already carried on activities as a UCITS, including as a feeder UCITS of a different master UCITS, the feeder UCITS shall be informed within at the latest 15 days following the submission of a complete file, whether or not the competent authorities approved the feeder UCITS' investment into the master UCITS.
Hvis de kompetente myndigheder nægter godkendelse, skal dette begrundes.
The competent authorities shall give reasons whenever approval is not granted.
Afgørelsen om ikke at godkende en investering i et master-institut skal som ved enhver anden administrativ afgørelse om afslag begrundes.
Comme toute décision administrative de refus, la décision de refuser un investissement dans un fonds maître doit être motivée.
Artikel 54 – stk. 3
Article 54 – paragraph 3
Såfremt feeder-instituttet og master-instituttet er etableret i samme medlemsstat, indrømmer de kompetente myndigheder i denne medlemsstat godkendelse, hvis feeder-instituttet, dets depositar og revisor såvel som master-instituttet opfylder alle betingelserne i dette kapitel.
In the event that the feeder UCITS and the master UCITS are established in the same Member State, the competent authorities of that Member State shall grant approval if the feeder UCITS, its depositary and its auditor, as well as the master UCITS, comply with all the requirements set out in this Chapter.
De kompetente myndigheder i feeder-instituttets hjemland indrømmer godkendelse, hvis feeder-instituttet, dets depositar og revisor såvel som master-instituttet opfylder alle betingelserne i dette kapitel.
The competent authorities of the feeder UCITS' home Member State shall grant approval if the feeder UCITS, its depositary and its auditor, as well as the master UCITS, comply with all the requirements set out in this Chapter.
a) feeder-instituttets og master-instituttets fondsbestemmelser eller vedtægter
(a) the fund rules or instruments of incorporation of the feeder UCITS and the master UCITS;
b) feeder-instituttets og master-instituttets prospekt og centrale investorinformation som omhandlet i artikel 73
(b) the prospectus and the key investor information referred to in Article 73 of the feeder UCITS and the master UCITS;
c) den i artikel 55, stk. 1, nævnte aftale mellem feeder-instituttet og master-instituttet
(c) the agreement between the feeder UCITS and the master UCITS referred to in Article 55(1);
c) den i artikel 55, stk. 1, nævnte aftale mellem feeder-instituttet og master-instituttet eller de interne regler om god forretningsskik
(c) the agreement between the feeder UCITS and the master UCITS or the internal conduct-of-business rules referred to in Article 55(1);
d) i givet fald de oplysninger, der i henhold til artikel 59, stk. 1, skal udleveres til deltagerne
(d) where applicable, the information to be provided to unit-holders referred to in Article 59(1);
e) en erklæring fra master-instituttet om, at det ikke ejer andele i et af dets egne feeder-institutter
(e) a declaration of the master UCITS to the effect that it does not hold any units of one of its own feeder UCITS;
Artikel 54 – stk. 4
Article 54 – paragraph 4