natgillin/translations-raw huggingface dataset:
Såfremt fusionen omfatter mere end et ophørende investeringsinstitut, og de pågældende investeringsinstitutter er hjemmehørende i forskellige medlemsstater, skal fusionen godkendes af de i forhold til hvert enkelt fusionerende investeringsinstitut kompetente myndigheder, som skal arbejde snævert sammen.
If the merger involves more than one merging UCITS and such UCITS are domiciled in different Member States, the competent authorities of each merging UCITS will need to approve the merger, in close cooperation with each other.
Da det også er nødvendigt at sikre en rimelig beskyttelse af deltagerne i det investeringsinstitut, der består efter fusionen ( det fortsættende investeringsinstitut ) , bør de kompetente myndigheder i det ophørende investeringsinstituts hjemland tage hensyn til deres interesser i forbindelse med godkendelsen af en grænseoverskridende fusion.
Since the interests of the unit-holders of the UCITS which continues to exist after the merger (the receiving UCITS ) also need to be adequately safeguarded, they should be taken into account by the competent authorities of the merging UCITS' home Member State when approving a cross-border merger .
I forbindelse med grænseoverskridende fusioner bør de i forhold til det ophørende investeringsinstitut kompetente myndigheder godkende fusionen for at sikre, at de deltagere, der reelt skifter fonde, beskyttes behørigt.
For cross-border mergers, the competent authorities of the merging UCITS should approve the merger so as to ensure that the interests of the unit-holders who effectively change funds are duly protected.
Såfremt fusionen omfatter mere end et ophørende investeringsinstitut, og de pågældende investeringsinstitutter er hjemmehørende i forskellige medlemsstater, skal fusionen godkendes af de i forhold til hvert enkelt fusionerende investeringsinstitut kompetente myndigheder, som skal arbejde snævert sammen , herunder ved hjælp af passende informationsudveksling .
If the merger involves more than one merging UCITS and such UCITS are domiciled in different Member States, the competent authorities of each merging UCITS will need to approve the merger, in close cooperation with each other , including through appropriate information sharing .
Da det også er nødvendigt at sikre en rimelig beskyttelse af deltagerne i det fortsættende investeringsinstitut, bør de kompetente myndigheder i det fortsættende investeringsinstituts hjemland tage hensyn til deres interesser .
Since the interests of the unit-holders of the receiving UCITS also need to be adequately safeguarded, they should be taken into account by the competent authorities of the receiving UCITS' home Member State.
Endvidere bør deltagerne i både det ophørende investeringsinstitut og det fortsættende investeringsinstitut være berettiget til at anmode om tilbagekøb eller indløsning af deres andele uden yderligere omkostninger, dvs. således at de kun bør være forpligtet til at betale de gebyrer, der vil blive tilbageholdt af de respektive fonde til dækning af desinvesteringsomkostninger i alle situationer, som fastslået i de respektive prospekter.
Furthermore, unit holders of both the merging and the receiving UCITS should have the right to request the repurchase or redemption of their units without additional charge, i.e. they should be subject only to the fees to be retained by the respective funds to cover disinvestment costs in all situations, as laid down in the respective prospectuses .
Alternativt bør deltagerne, hvor dette er muligt, i både det ophørende og fortsættende investeringsinstitut, have mulighed for at konvertere deres andele til andele i et andet investeringsinstitut med en tilsvarende investeringspolitik, og som administreres af samme administrationsselskab eller af et andet selskab i tilknytning hertil.
Alternatively , where possible, unit-holders of both the merging and receiving UCITS should be able to convert the ir units into units in another UCITS with similar investment policies and managed by the same management company or by another company linked to it.
(20) Det er nødvendigt at sikre yderligere tredjepartskontrol af fusioner.
(20) It is necessary to ensure additional third-party control of mergers.
Depositarerne for hvert af de investeringsinstitutter, der deltager i fusionen, bør verificere, at den foreslåede fusionsplan er i overensstemmelse med de relevante bestemmelser i dette direktiv og investeringsinstitutternes fondsbestemmelser.
The depositaries of each of the UCITS involved in the merger should verify the conformity of the common draft terms of the merger with the relevant provisions of this Directive and of the UCITS fund rules.
En uvildig revisor bør udarbejde en rapport på vegne af alle de investeringsinstitutter, der er involveret i fusionen, og validere de metoder, der benyttes til værdiansættelse af institutternes aktiver og passiver, og de metoder, der benyttes til beregning af det ombytningsforhold, som investeringsinstitutternes ledelse og/eller administrative organer foreslår i fusionsplanen.
An independent auditor should draw-up a report on behalf of all the UCITS involved in the merger validating the valuation methods of the assets and liabilities of such UCITS and the calculation method of the exchange ratio as set forth by the management and/or administrative body of such UCITS in the common draft terms of merger.
For at begrænse omkostningerne forbundet med grænseoverskridende fusioner bør det være muligt at udfærdige en enkelt rapport, der dækker samtlige involverede investeringsinstitutter, og den lovpligtige revisor for det ophørende og/eller det fortsættende investeringsinstitut bør have mulighed for at gøre dette.
In order to limit costs connected with cross-border mergers, it should be possible to draw up a single report for all UCITS involved and the statutory auditor of the merging UCITS and/or the receiving UCITS should be enabled to do so.
Af hensyn til beskyttelsen af investorerne bør deltagerne have mulighed for at modtage en gratis kopi af den pågældende rapport.
For investor protection reasons, unit-holders should be offered the possibility to obtain a copy of such report free of charge.
(20) Tredjepartskontrol af fusioner bør ligeledes sikres .
(20) Third-party control of mergers should also be ensured .
Enten depositaren eller en uvildig revisor bør udarbejde en rapport på vegne af alle de investeringsinstitutter, der er involveret i fusionen, og validere de metoder, der benyttes til værdiansættelse af institutternes aktiver og passiver, og de metoder, der benyttes til beregning af det ombytningsforhold, som investeringsinstitutternes ledelse og/eller administrative organer foreslår i fusionsplanen.
Either a depositary or an independent auditor should draw-up a report on behalf of all the UCITS involved in the merger validating the valuation methods of the assets and liabilities of such UCITS and the calculation method of the exchange ratio as set forth by the management and/or administrative body of such UCITS in the common draft terms of merger.
(21) Det er særlig vigtigt, at deltagerne modtager tilstrækkelige oplysninger om den foreslåede fusion, og at deres rettigheder beskyttes i tilstrækkelig grad.
(21) It is particularly important that the unit-holders are adequately informed about the proposed merger and that their rights are sufficiently protected.
Skønt det især er deltagerne i det ophørende investeringsinstitut, der berøres, bør deltagerne i det fortsættende også beskyttes i de situationer, hvor den påtænkte fusion kan få betydelige konsekvenser for deres investering .
Although unit-holders of the merging UCITS are most concerned, the interests of the unit-holders of the receiving UCITS should also be safeguarded in such situations where the proposed merger could have a substantial impact on their investment .
Skønt det især er deltagerne i det ophørende investeringsinstitut, der berøres, bør deltagerne i det fortsættende også beskyttes.
Although unit-holders of the merging UCITS are most concerned, the interests of the unit-holders of the receiving UCITS should also be safeguarded.
(22a) Inden den 31. december 2010 og med henblik på at etablere en bindende ramme for afgiftsneutralitet bør Kommissionen udarbejde et forslag til direktiv om beskatning af fusioner af fonde ud fra princippet om afgiftsneutralitet i Rådets direktiv 90/434/EØF af 23. juli 1990 om en fælles beskatningsordning ved fusion, spaltning, tilførsel af aktiver og ombytning af aktier vedrørende selskaber i forskellige medlemsstater og ved flytning af et SE’s eller SCE’s vedtægtsmæssige hjemsted mellem medlemsstater 1 og Europa-Parlamentets og Rådets direktiv 2005/56/EF af 26. oktober 2005 om grænseoverskridende fusioner af selskaber med begrænset ansvar 2 .
(22a) B y 31 December 2010 and in order to provide a binding framework of tax neutrality, the Commission should propose a directive for taxation of fund mergers following the principle of tax neutrality laid down in Council Directive 90/434/EEC of 23 July 1990 on the common system of taxation applicable to mergers, divisions, partial divisions, transfers of assets and exchanges of shares concerning companies of different Member States and to the transfer of the registered office, of an SE or SCE, between Member States 1 and Directive 2005/56/EC of the European Parliament and of the Council of 26 October 2005 on cross-border mergers of limited liability companies 2 .
De eksisterende vanskeligheder bør i mellemtiden løses ved hjælp af en meddelelse fra Kommissionen og bilaterale aftaler mellem medlemsstaterne.
A Commission Communication and bilateral agreements between Member States should address the existing difficulties in the meantime .
Manglen på bestemmelser på EU-plan til at sikre afgiftsneutralitet af grænseoverskridende fusioner af fonde er en betydelig hindring for at opnå de stordriftsfordele, der er lagt op til i den nye ramme for fusioner.
The lack of an EU-Level provision to ensure tax-neutrality of cross-border fund mergers is a major obstacle to achieving the economies of scale envisaged by the new framework for mergers.
Den meddelelse om den skattemæssige behandling af grænseoverskridende fusioner af fonde, som Kommissionen i sin hvidbog fra 2006 forpligtede sig til at forelægge, er endnu ikke offentliggjort.
The Commission committed in its White Paper of 2006 to bring forward a Communication on the tax treatment of cross-border fund mergers, which has not yet been published.
Det er vigtigt, at der arbejdes yderligere på dette for at muliggøre et reelt indre marked, og at det er nødvendigt at fastsætte klare tidsfrister.
Further work on this is essential to allow for a true common market and clear time frames need to be set.
1 KOM(2008)0602 .
1 COM(2008)0602
(39) For at skabe bedre forudsætninger for et effektivt fungerende indre marked og sikre et ensartet investorbeskyttelsesniveau i hele Fællesskabet bør master-feeder-strukturer være tilladt, både når master- og feeder-instituttet er etableret i samme medlemsstat, og når de er etableret i forskellige medlemsstater.
(39) In order to facilitate the effective operation of the Internal Market and to ensure the same level of investor protection throughout the Community, both master-feeder-structures where the master and the feeder are established in the same Member State and where they are established in different Member States should be allowed .
For at gøre det muligt for investorer at danne sig et bedre overblik over master-feeder-strukturer og for myndighederne at føre bedre tilsyn med sådanne strukturer, navnlig i en grænseoverskridende kontekst, bør det ikke være muligt for et feeder-institut at investere i mere end et masterinstitut.
In order to allow investors to better understand master-feeder-structures and regulators to supervise them more easily, notably in a cross-border context, no feeder UCITS should be able to invest into more than one master.
For at sikre samme investorbeskyttelsesniveau i hele Fællesskabet bør master-instituttet selv være et godkendt investeringsinstitut.
In order to ensure the same level of investor protection throughout the Community the master should be itself an authorised UCITS.
(39) For at skabe bedre forudsætninger for et effektivt fungerende indre marked og sikre et ensartet investorbeskyttelsesniveau i hele Fællesskabet bør master-feeder-strukturer være tilladt, både når master- og feeder-instituttet er etableret i samme medlemsstat, og når de er etableret i forskellige medlemsstater.
(39) In order to facilitate the effective operation of the Internal Market and to ensure the same level of investor protection throughout the Community, master-feeder-structures should be permitted both where the master and the feeder are established in the same Member State and where they are established in different Member States.
For at sikre samme investorbeskyttelsesniveau i hele Fællesskabet bør master-instituttet selv være et godkendt investeringsinstitut.
In order to ensure the same level of investor protection throughout the Community the master should itself be an authorised UCITS.
For at undgå overdrevne administrative byrder finder bestemmelserne om anmeldelse af grænseoverskridende markedsføring ikke anvendelse, hvis et master-institut ikke rejser kapital fra offentligheden i en anden medlemsstat end den, hvori instituttet har hjemsted, men kun har et eller flere feeder-institutter i den anden medlemsstat.
In order to avoid undue administrative burden, provisions on notification of cross - border marketing should not apply if a master UCITS does not raise capital from the public in a Member State other than that in which it is established, but has only one or more feeder UCITS in that other Member State.
(40) Med det formål at beskytte investorerne i feeder-instituttet bør der stilles krav om, at feeder-instituttets investering i master-instituttet skal forhåndsgodkendes af de kompetente myndigheder i feeder-instituttets hjemland.
(40) In order to protect the feeder UCITS' investors , the feeder UCITS' investment into the master UCITS should be subject to prior approval of the competent authorities of the feeder UCITS' home Member State.
(40) Med det formål at beskytte investorerne i feeder-instituttet bør der stilles krav om, at feeder-instituttets investering i master-instituttet skal forhåndsgodkendes af de kompetente myndigheder i feeder-instituttets hjemland.
(40) In order to protect th ose investing in feeder UCITS , the investment by the feeder UCITS into the master UCITS should be subject to prior approval of the competent authorities of the feeder UCITS' home Member State.
Kun den indledende investering i master-instituttet, hvorved feeder-instituttet overskrider den grænse , der finder anvendelse for investeringer i andre investeringsinstitutter, bør forudsætte godkendelse.
Only the initial investment into the master UCITS by which the feeder UCITS exceeds the limit applicable for investing into another UCITS should require approval.
For at skabe bedre forudsætninger for et effektivt fungerende indre marked og sikre et ensartet investorbeskyttelsesniveau i hele Fællesskabet bør de betingelser, som skal opfyldes, og de dokumenter og oplysninger, der skal tilvejebringes med henblik på godkendelse af feeder-instituttets investering i master-instituttet, være fyldestgørende.
In order to facilitate the effective operation of the internal market and to ensure the same level of investor protection throughout the Community, the conditions which have to be met and the documents and information which have to be provided for approving the feeder UCITS' investment into the master UCITS should be exhaustive.
(41) For at sætte feeder-instituttet i stand til at handle i alle deltagernes bedste interesse og navnlig give det mulighed for at indhente alle de oplysninger og dokumenter fra master-instituttet, som det har behov for for at kunne opfylde sine forpligtelser, bør feeder- og master-instituttet indgå en juridisk bindende aftale.
(41) In order to allow the feeder UCITS to act in the best interests of its unit-holders and notably place it in a position to obtain from the master UCITS all information and documents necessary to perform its obligations, the feeder UCITS and the master UCITS should enter into a binding and enforceable agreement.
Tilsvarende bør aftalen om informationsudveksling mellem feeder- og master-instituttets depositarer eller revisorer sikre, at feeder-instituttets depositar eller revisor modtager alle de oplysninger eller dokumenter, som er nødvendige for, at de kan udføre deres opgaver.
In a similar way the information-sharing agreement between the depositaries or, respectively, the auditors of the feeder UCITS and the master UCITS should ensure the flow of information and documents that is needed for the feeder UCITS' depositary or auditor to fulfil its duties.
(41) For at sætte feeder-instituttet i stand til at handle i alle deltagernes bedste interesse og navnlig give det mulighed for at indhente alle de oplysninger og dokumenter fra master-instituttet, som det har behov for at kunne opfylde sine forpligtelser, bør feeder- og master-instituttet indgå en juridisk bindende aftale.
(41) In order to allow the feeder UCITS to act in the best interests of its unit-holders and notably place it in a position to obtain from the master UCITS all information and documents necessary to perform its obligations, the feeder UCITS and the master UCITS should enter into a binding and enforceable agreement.
Hvis begge institutter imidlertid administreres af samme administrationsselskab, bør det være tilstrækkeligt, at administrationsselskabet fastlægger interne regler for god forretningsskik.
However, if both are managed by the same management company, it should be sufficient that the latter set up internal conduct of business rules.
En aftale om informationsudveksling mellem feeder- og master-instituttets depositarer eller revisorer bør sikre, at feeder-instituttets depositar eller revisor modtager alle de oplysninger eller dokumenter, som er nødvendige for, at de kan udføre deres opgaver.
An information-sharing agreement between the depositaries or, respectively, the auditors of the feeder UCITS and the master UCITS should ensure the flow of information and documents that is needed for the feeder UCITS' depositary or auditor to fulfil its duties.
Dette direktiv bør sikre, at depositarerne eller revisorerne i forbindelse med opfyldelsen af disse krav ikke tilsidesætter tavshedspligten eller bestemmelser om databeskyttelse.
This Directive should ensure that, when complying with these requirements, the depositaries or the auditors would not be in breach of any restriction on disclosure of information or of data protection.
(42) For at sikre feeder-instituttets investorer en høj grad af beskyttelse bør prospektet, den centrale investorinformation som omhandlet i artikel 73 samt alt markedsføringsmateriale tilpasses master-feeder-strukturernes særlige kendetegn.
(42) In order to ensure a high level of protection of the interests of the feeder UCITS' investors, the prospectus, the key investor information as referred to in Article 73, as well as all marketing communications should be adapted to the specificities of master-feeder-structures.
Feeder-instituttets investering i master-instituttet bør ikke berøre feeder-instituttets evne til selv at tilbagekøbe eller indløse andele på anmodning af instituttets deltagere eller til at handle i sine deltageres bedste interesse.
The investment of the feeder UCITS into the master UCITS should not affect the ability of the feeder UCITS itself either to repurchase or redeem units at the request of its unit-holders or to act in the best interests of its unit-holders.
(44) Omdannelsesreglerne bør gøre det muligt at omdanne et eksisterende investeringsinstitut til et feeder-institut.
(44) The conversion rules should enable an existing UCITS to convert into a feeder UCITS.
De bør samtidig sikre deltagerne en tilstrækkelig beskyttelse.
At the same time they should sufficiently protect unit-holders.
Eftersom en sådan omdannelse indebærer en gennemgribende ændring af investeringspolitikken, bør det investeringsinstitut, der omdannes til et feeder-institut, forpligtes til at forsyne deltagerne med alle de oplysninger, der er nødvendige for, at de kan tage stilling, om de vil beholde deres investering eller ej.
As such a conversion is a fundamental change of the investment policy, the converting feeder UCITS should be required to provide its unit-holders with sufficient information as to enable them to decide whether to maintain their investment or not .
Eftersom en sådan omdannelse indebærer en gennemgribende ændring af investeringspolitikken, bør det investeringsinstitut, der omdannes til et feeder-institut, forpligtes til at forsyne deltagerne med alle de oplysninger, der er nødvendige for, at de kan tage stilling, om de vil beholde deres investering eller ej.
As such a conversion is a fundamental change of investment policy, the converting feeder UCITS should be required to provide its unit-holders with sufficient information in order to enable them to decide whether or not to maintain their investment.
De kompetente myndigheder bør ikke stille krav om, at feeder-instituttet tilvejebringer flere eller andre oplysninger end de anførte.
Competent authorities should not require the feeder UCITS to provide more or different information than th at specified .
(46) Den centrale investorinformation skal udleveres til investorerne forud for indgåelsen af en aftale , således at de kan træffe en velfunderet investeringsbeslutning.
(46) Key investor information should be provided to investors , at a pre-contractual stage , in order to help them to reach informed investment decisions.
Den bør kun omfatte de oplysninger, der er væsentlige for en sådan beslutning.
It should contain only the essential elements for making such decisions.
Indholdet af den centrale investorinformation bør så vidt muligt harmoniseres for at sikre en tilstrækkelig grad af investorbeskyttelse og sammenlignelighed.
The nature of the information to be found in the key investor information should be harmonised to the highest extent so as to ensure adequate investor protection and comparability.
Den centrale investorinformation bør være kortfattet.
Key investor information should be presented in a short format.
Et enkelt dokument af begrænset længde, hvori oplysningerne præsenteres i en bestemt rækkefølge, er den mest velegnede metode til at opnå den klarhed og simplicitet i præsentationen, som ikke-professionelle investorer kræver, og bør gøre det muligt at foretage nyttige sammenligninger.
A single document of limited length presenting the information in a specified order is the most appropriate way to achieve the clarity and simplicity of presentation that is required by retail investors, and should allow for useful comparisons.
(46) Den centrale investorinformation skal udleveres gratis som et specifikt dokument til investorerne i god tid forud for tegningen af andel e i et investeringsinstitut , således at de kan træffe en velfunderet investeringsbeslutning.
(46) Key investor information should be provided as a specific document to investors free of charge , in good time before the subscription of the UCITS , in order to help them to reach informed investment decisions.
Indholdet af den centrale investorinformation bør fuldt ud harmoniseres for at sikre en tilstrækkelig grad af investorbeskyttelse og sammenlignelighed.
The nature of the information to be found in the key investor information should be fully harmonised so as to ensure adequate investor protection and comparability.
Et enkelt dokument af begrænset længde, hvori oplysningerne præsenteres i en bestemt rækkefølge, er den mest velegnede metode til at opnå den klarhed og simplicitet i præsentationen, som ikke-professionelle investorer kræver, og bør gøre det muligt at foretage nyttige sammenligninger , navnlig af omkostninger og risikoprofil, som er relevant for investeringsbeslutningen .
A single document of limited length presenting the information in a specified order is the most appropriate way to achieve the clarity and simplicity of presentation that is required by retail investors, and should allow for useful comparisons , notably of costs and risk profile, relevant to the investment decision .