natgillin/translations-raw huggingface dataset:
AFDELING 5 Konvertering af eksisterende investeringsinstitutter til feeder-institutter og ændring af master-institutter
SECTION 5 Conversion of existing UCITS into feeder UCITS and change of master UCITS
AFDELING 6 Forpligtelser og kompetente myndigheder
SECTION 6 Obligations and competent authorities
KAPITEL IX FORPLIGTELSER MED HENSYN TIL OPLYSNINGER TIL INVESTORER
CHAPTER IX OBLIGATIONS CONCERNING INFORMATION TO BE PROVIDED TO INVESTORS
AFDELING 1 Offentliggørelse af prospekt og periodiske beretninger
SECTION 1 Publication of a prospectus and periodical reports
AFDELING 2 Offentliggørelse af andre oplysninger
SECTION 2 Publication of other information
AFDELING 3 Central investorinformation
SECTION 3 Key investor information
KAPITEL X INVESTERINGSINSTITUTTERS ALMINDELIGE FORPLIGTELSER
CHAPTER X GENERAL OBLIGATIONS OF UCITS
KAPITEL XI SÆRLIGE BESTEMMELSER FOR INVESTERINGSINSTITUTTER, SOM MARKEDSFØRER DERES ANDELE I ANDRE MEDLEMSSTATER END DEM, HVOR DE ER ETABLERET
CHAPTER XI SPECIAL PROVISIONS APPLICABLE TO UCITS WHICH MARKET THEIR UNITS IN MEMBER STATES OTHER THAN THOSE IN WHICH THEY ARE ESTABLISHED
KAPITEL XII BESTEMMELSER VEDRØRENDE DE MYNDIGHEDER, SOM UDSTEDER TILLADELSER OG FØRER TILSYN
CHAPTER XII PROVISIONS CONCERNING THE AUTHORITIES RESPONSIBLE FOR AUTHORISATION AND SUPERVISION
KAPITEL XIII DET EUROPÆISKE VÆRDIPAPIRUDVALG
CHAPTER XIII EUROPEAN SECURITIES COMMITTEE
KAPITEL XIV UNDTAGELSESBESTEMMELSER, OVERGANGSBESTEMMELSER OG AFSLUTTENDE BESTEMMELSER
CHAPTER XIV DEROGATIONS, TRANSITIONAL AND FINAL PROVISIONS
AFDELING 1 Undtagelsesbestemmelser
SECTION 1 Derogations
AFDELING 2 Overgangsbestemmelser og afsluttende bestemmelser
SECTION 2 Transitional and final provisions
BILAG I Skema A og B
ANNEX I Schedules A and B
BILAG II Opgaver i forbindelse med kollektiv porteføljeforvaltning
ANNEX II Functions included in the activity of collective portfolio management
Del A Ophævet direktiv med ændringer
Part A Repealed Directive with list of its successive amendments
Del B Frister for gennemførelse i national ret og anvendelse
Part B List of time limits for transposition into national law and application
BILAG IV Sammenligningstabel
ANNEX IV Correlation table
Dette direktiv finder anvendelse på institutter for kollektiv investering i værdipapirer (»investeringsinstitutter«), som er etableret på medlemsstaternes område.
This Directive applies to undertakings for collective investment in transferable securities (UCITS) established within the territories of the Member States.
Ved anvendelsen af dette direktiv og med forbehold af artikel 3 forstås ved investeringsinstitut et foretagende:
For the purposes of this Directive, and subject to Article 3, UCITS means an undertaking:
der har som eneste formål at foretage kollektiv investering i værdipapirer eller i andre i artikel 50, stk. 1, nævnte likvide finansielle aktiver af kapital tilvejebragt ved henvendelse til offentligheden, og hvis virksomhed bygger på princippet om risikospredning, og
with the sole object of collective investment in transferable securities or in other liquid financial assets referred to in Article 50(1) of capital raised from the public and which operate on the principle of risk-spreading; and
hvis andele på forlangende af ihændehaverne tilbagekøbes eller indløses direkte eller indirekte for midler af disse institutters aktiver.
with units which are, at the request of holders, repurchased or redeemed, directly or indirectly, out of those undertakings’ assets.
Det forhold, at et investeringsinstitut træffer foranstaltninger med henblik på, at kursværdien for dets andele ikke afviger væsentligt fra nettoværdien, ligestilles med sådanne tilbagekøb eller indløsninger.
Action taken by a UCITS to ensure that the stock exchange value of its units does not significantly vary from their net asset value shall be regarded as equivalent to such repurchase or redemption.
Medlemsstaterne kan tillade, at investeringsselskaber består af flere investeringsafdelinger.
Member States may allow UCITS to consist of several investment compartments.
De i stk. 2 nævnte institutter kan oprettes i henhold til aftale (investeringsfonde administreret af administrationsselskaber), som »trusts« (»unit trusts«) eller i henhold til vedtægter (investeringsselskaber).
The undertakings referred to in paragraph 2 may be constituted in accordance with contract law (as common funds managed by management companies), trust law (as unit trusts), or statute (as investment companies).
I henhold til dette direktiv omfatter:
For the purposes of this Directive:
udtrykket »investeringsfond« ligeledes begrebet »unit trust«
‘common funds’ shall also include unit trusts;
udtrykket »andele« i investeringsinstitutter ligeledes aktier i investeringsinstitutter.
‘units’ of UCITS shall also include shares of UCITS.
Dette direktiv omfatter ikke investeringsselskaber, hvis aktiver gennem datterselskaber hovedsagelig investeres i andre værdier end værdipapirer.
Investment companies, the assets of which are invested through the intermediary of subsidiary companies, mainly other than in transferable securities, shall not be subject to this Directive.
Medlemsstaterne forbyder investeringsinstitutter, der er omfattet af dette direktiv, at ændre status til investeringsinstitutter, som ikke er underlagt dette direktiv.
The Member States shall prohibit UCITS which are subject to this Directive from transforming themselves into collective investment undertakings which are not covered by this Directive.
Med forbehold af bestemmelserne i fællesskabsretten om kapitalbevægelser og bestemmelserne i artikel 91 og 92 og artikel 108, stk. 1, andet afsnit, fastsætter en medlemsstat ikke andre bestemmelser på det område, der omfattes af direktivet, for investeringsinstitutter, der er etableret i en anden medlemsstat, eller for sådanne investeringsinstitutters andele, såfremt disse investeringsinstitutter markedsfører deres enheder på den pågældende medlemsstats område.
Subject to the provisions in Community law governing capital movements and subject to Articles 91 and 92 and the second subparagraph of Article 108(1), no Member State shall apply any other provisions in the field covered by this Directive to UCITS established in another Member State or to the units issued by such UCITS, where those UCITS market their units within the territory of that Member State.
Med forbehold af dette kapitel kan medlemsstaterne for investeringsinstitutter, der er etableret på deres eget område, fastsætte strengere bestemmelser end dem, der er fastsat i dette direktiv, samt supplerende bestemmelser, såfremt sådanne bestemmelser finder almindelig anvendelse og ikke strider mod bestemmelserne i dette direktiv.
Without prejudice to this Chapter, a Member State may apply to UCITS established within its territory requirements which are stricter than or additional to those laid down in this Directive, provided that they are of general application and do not conflict with the provisions of this Directive.
I dette direktiv forstås ved:
For the purposes of this Directive the following definitions apply:
»depositar«: et foretagende, som har fået overdraget de opgaver, der er fastsat i artikel 22 og 32, og som er underlagt de øvrige bestemmelser i kapitel IV og kapitel V, afdeling 3
‘depositary’ means an institution entrusted with the duties set out in Articles 22 and 32 and subject to the other provisions laid down in Chapter IV and Section 3 of Chapter V;
»administrationsselskab«: et selskab, hvis almindelige virksomhed er administration af investeringsinstitutter i form af investeringsfonde eller investeringsselskaber (kollektiv porteføljeforvaltning for investeringsinstitutter)
‘management company’ means a company, the regular business of which is the management of UCITS in the form of common funds or of investment companies (collective portfolio management of UCITS);
»et administrationsselskabs hjemland«: den medlemsstat, hvor administrationsselskabet har sit vedtægtsmæssige hjemsted
‘management company’s home Member State’ means the Member State in which the management company has its registered office;
»et administrationsselskabs værtsland«: en medlemsstat, som ikke er hjemlandet, og hvor administrationsselskabet har en filial eller præsterer tjenesteydelser
‘management company’s host Member State’ means a Member State, other than the home Member State, within the territory of which a management company has a branch or provides services;
»et investeringsinstituts hjemland«: den medlemsstat, hvor investeringsinstituttet har opnået godkendelse i henhold til artikel 5
‘UCITS home Member State’ means the Member State in which the UCITS is authorised pursuant to Article 5;
»et investeringsinstituts værtsland«: en medlemsstat, som ikke er investeringsinstituttets hjemland, hvor andelene i investeringsselskabet markedsføres
‘UCITS host Member State’ means a Member State, other than the UCITS home Member State, in which the units of the UCITS are marketed;
»filial«: en afdeling, som retligt udgør en ikke-selvstændig del af et administrationsselskab, og som præsterer tjenesteydelser af den art, som administrationsselskabet er godkendt til
‘branch’ means a place of business which is a part of the management company, which has no legal personality and which provides the services for which the management company has been authorised;
»kompetente myndigheder«: de myndigheder, som de enkelte medlemsstater udpeger i henhold til artikel 97
‘competent authorities’ means the authorities which each Member State designates under Article 97;
»snævre forbindelser«: en situation, hvor to eller flere fysiske eller juridiske personer er knyttet til hinanden enten gennem:
‘close links’ means a situation in which two or more natural or legal persons are linked by either:
»kapitalinteresser«, hvorved forstås besiddelse af mindst 20 % af stemmerettighederne eller af kapitalen, enten direkte eller gennem kontrol, eller
‘participation’, which means the ownership, direct or by way of control, of 20 % or more of the voting rights or capital of an undertaking; or
»kontrol«, hvorved forstås den forbindelse, der består mellem et »moderselskab« og et »datterselskab« som defineret i artikel 1 og 2 i Rådets syvende direktiv 83/349/EØF af 13. juni 1983 på grundlag af traktatens artikel 54, stk. 3, litra g), om konsoliderede regnskaber [10] og i alle de i artikel 1, stk. 1 og 2, i direktiv 83/349/EØF nævnte tilfælde, eller en forbindelse mellem en fysisk eller juridisk person og en virksomhed
‘control’, which means the relationship between a ‘parent undertaking’ and a ‘subsidiary’, as defined in Articles 1 and 2 of Seventh Council Directive 83/349/EEC of 13 June 1983 based on the Article 54(3)(g) of the Treaty on consolidated accounts [10] and in all the cases referred to in Article 1(1) and (2) of Directive 83/349/EEC, or a similar relationship between any natural or legal person and an undertaking;
»kvalificeret deltagelse«: direkte eller indirekte besiddelse af mindst 10 % af kapitalen eller stemmerettighederne i et administrationsselskab eller en besiddelse, som giver mulighed for at udøve en betydelig indflydelse på ledelsen af det administrationsselskab, hvori der besiddes en kapitalinteresse
‘qualifying holding’ means a direct or indirect holding in a management company which represents 10 % or more of the capital or of the voting rights or which makes it possible to exercise a significant influence over the management of the management company in which that holding subsists;
»startkapital«: kapital som omhandlet i artikel 57, litra a) og b), i direktiv 2006/48/EF
‘initial capital’ means the funds as referred to in Article 57(a) and (b) of Directive 2006/48/EC;
»egenkapital«: egenkapital som omhandlet i afsnit V, kapitel 2, del 1, i direktiv 2006/48/EF
‘own funds’ means own funds as referred to in Title V, Chapter 2, Section 1 of Directive 2006/48/EC;
»varigt medium«: en indretning, der sætter en investor i stand til at lagre oplysninger, som er sendt til denne investor personligt, så de er tilgængelige i en periode, som er afpasset efter oplysningernes formål, og som giver mulighed for uændret gengivelse af de lagrede oplysninger
‘durable medium’ means an instrument which enables an investor to store information addressed personally to that investor in a way that is accessible for future reference for a period of time adequate for the purposes of the information and which allows the unchanged reproduction of the information stored;
»værdipapirer«:
‘transferable securities’ means:
aktier og andre værdipapirer, der kan sidestilles med aktier (aktier)
shares in companies and other securities equivalent to shares in companies (shares);
obligationer og andre former for standardiseret gæld (debt scurities, obligationer)
bonds and other forms of securitised debt (debt securities);
alle andre omsættelige værdipapirer, der giver ret til at erhverve sådanne værdipapirer ved tegning eller ombytning
any other negotiable securities which carry the right to acquire any such transferable securities by subscription or exchange;
»pengemarkedsinstrumenter«: instrumenter, der normalt handles på pengemarkedet, er likvide og kan værdiansættes til enhver tid.
‘money market instruments’ means instruments normally dealt in on the money market which are liquid and have a value which can be accurately determined at any time;
»fusioner«:
‘mergers’ means an operation whereby:
en transaktion, hvorved et eller flere investeringsinstitutter eller investeringsafdelinger heraf (»det/de ophørende investeringsinstitut(ter)«) ved opløsning uden likvidation overdrager alle deres aktiver og passiver til et andet eksisterende investeringsinstitut eller en investeringsafdeling heraf (»det fortsættende investeringsinstitut«) til gengæld for, at deres deltagere tildeles andele i det fortsættende investeringsinstitut og eventuelt et kontant beløb, der ikke overstiger 10 % af nettoværdien af disse andele eller aktier
one or more UCITS or investment compartments thereof, the ‘merging UCITS’, on being dissolved without going into liquidation, transfer all of their assets and liabilities to another existing UCITS or an investment compartment thereof, the ‘receiving UCITS’, in exchange for the issue to their unit-holders of units of the receiving UCITS and, if applicable, a cash payment not exceeding 10 % of the net asset value of those units;
en transaktion, hvorved to eller flere investeringsinstitutter eller investeringsafdelinger heraf (»det/de ophørende investeringsinstitut(ter)«) ved opløsning uden likvidation overdrager alle deres aktiver og passiver til et investeringsinstitut, som de danner, eller en investeringsafdeling heraf (»det fortsættende investeringsinstitut«) til gengæld for, at deres deltagere tildeles andele i det fortsættende investeringsinstitut og eventuelt et kontant beløb, der ikke overstiger 10 % af nettoværdien af disse andele
two or more UCITS or investment compartments thereof, the ‘merging UCITS’, on being dissolved without going into liquidation, transfer all of their assets and liabilities to a UCITS which they form or an investment compartment thereof, the ‘receiving UCITS’, in exchange for the issue to their unit-holders of units of the receiving UCITS and, if applicable, a cash payment not exceeding 10 % of the net asset value of those units;
»grænseoverskridende fusion«:
‘cross-border merger’ means a merger of UCITS:
en fusion af investeringsinstitutter, hvoraf mindst to er etableret i forskellige medlemsstater, eller
at least two of which are established in different Member States; or
der er etableret i samme medlemsstat, til et nyt investeringsinstitut, der er etableret i en anden medlemsstat
established in the same Member State into a newly constituted UCITS established in another Member State;
»national fusion«: en fusion af investeringsinstitutter, der er etableret i samme medlemsstat, hvor mindst et af de involverede investeringsinstitutter er blevet anmeldt i henhold til artikel 93.
‘domestic merger’ means a merger between UCITS established in the same Member State where at least one of the involved UCITS has been notified pursuant to Article 93.
Med henblik på stk. 1, litra b), omfatter et administrationsselskabs almindelige virksomhed de opgaver, der henvises til i bilag II.
For the purposes of paragraph 1(b), the regular business of a management company shall include the functions referred to in Annex II.
Med henblik på stk. 1, litra g), betragtes flere afdelinger, som i en og samme medlemsstat oprettes af et administrationsselskab med hovedkontor i en anden medlemsstat, som én filial.
For the purposes of paragraph 1(g), all the places of business established in the same Member State by a management company with its head office in another Member State shall be regarded as a single branch.
Med henblik på stk. 1, litra i), nr. ii), finder følgende anvendelse:
For the purposes of point (i)(ii) of paragraph 1, the following shall apply:
et datterselskab af et datterselskab anses også for at være et datterselskab af det moderselskab, som står i spidsen for disse foretagender
a subsidiary undertaking of a subsidiary undertaking shall also be considered to be a subsidiary of the parent undertaking which is at the head of those undertakings;
en situation, hvor to eller flere fysiske eller juridiske personer er varigt knyttet til den samme person gennem kontrol, betragtes ligeledes som en snæver forbindelse.
situations in which two or more natural or legal persons are permanently linked to the same person by a control relationship shall also be regarded as constituting a close links between such persons.
Med henblik på stk. 1, litra j), tages der hensyn til de stemmerettigheder, der er omhandlet i artikel 9 og 10 i Europa-Parlamentets og Rådets direktiv 2004/109/EF af 15. december 2004 om harmonisering af gennemsigtighedskrav i forbindelse med oplysninger om udstedere, hvis værdipapirer er optaget til handel på et reguleret marked [11].
For the purposes of paragraph 1(j), the voting rights referred to in Articles 9 and 10 of Directive 2004/109/EC of the European Parliament and of the Council of 15 December 2004 on the harmonisation of transparency requirements in relation to information about issuers whose securities are admitted to trading on a regulated market [11] shall be taken into account.
Med henblik på stk. 1, litra l), finder artikel 13-16 i direktiv 2006/49/EF tilsvarende anvendelse.
For the purposes of paragraph 1(l), Articles 13 to 16 of Directive 2006/49/EC shall apply mutatis mutandis.
Med henblik på stk. 1, litra n), omfatter værdipapirer ikke de teknikker og instrumenter, der er omhandlet i artikel 51.
For the purposes of paragraph 1(n), transferable securities shall exclude the techniques and instruments referred to in Article 51.
Følgende institutter anses ikke for omfattet af dette direktiv:
The following undertakings are not subject to this Directive:
lukkede institutter for kollektiv investering
collective investment undertakings of the closed-ended type;
institutter for kollektiv investering, der tilvejebringer kapital uden at søge at tilbyde deres andele til offentligheden i Fællesskabet eller en del af dette
collective investment undertakings which raise capital without promoting the sale of their units to the public within the Community or any part of it;
institutter for kollektiv investering, hvis andele i henhold til fondsbestemmelserne eller investeringsselskabers vedtægter kun må sælges til offentligheden i tredjelande
collective investment undertakings the units of which, under the fund rules or the instruments of incorporation of the investment company, may be sold only to the public in third countries;
de kategorier af institutter for kollektiv investering, der er fastlagt i bestemmelserne i den medlemsstat, hvor sådanne institutter for kollektiv investering er etableret, og for hvilke reglerne i kapitel VII og artikel 83 på grund af institutternes investerings- og låneoptagelsespolitik er uhensigtsmæssige.
categories of collective investment undertakings prescribed by the regulations of the Member States in which such collective investment undertakings are established, for which the rules laid down in Chapter VII and Article 83 are inappropriate in view of their investment and borrowing policies.
Ved anvendelsen af dette direktiv betragtes et investeringsinstitut som værende etableret i sit hjemland.
For the purposes of this Directive, a UCITS shall be deemed to be established in its home Member State.
GODKENDELSE AF ET INVESTERINGSINSTITUT
AUTHORISATION OF UCITS
Et investeringsinstitut skal for at kunne udøve sin virksomhed være godkendt i overensstemmelse med dette direktiv.
No UCITS shall pursue activities as such unless it has been authorised in accordance with this Directive.
En sådan godkendelse har gyldighed i samtlige medlemsstater.
Such authorisation shall be valid for all Member States.
En investeringsfonds godkendelse er betinget af, at de kompetente myndigheder i dens hjemland har godkendt administrationsselskabets ansøgning om at administrere denne investeringsfond, fondsbestemmelserne samt valget af depositar.
A common fund shall be authorised only if the competent authorities of its home Member State have approved the application of the management company to manage that common fund, the fund rules and the choice of depositary.
Et investeringsselskabs godkendelse er betinget af, at de kompetente myndigheder i dets hjemland har godkendt dets vedtægter og valget af depositar og, hvor dette er relevant, det udpegede administrationsselskabs ansøgning om at administrere dette investeringsselskab.
An investment company shall be authorised only if the competent authorities of its home Member State have approved both its instruments of incorporation and the choice of depositary, and, where relevant, the application of the designated management company to manage that investment company.
Uden at det berører stk. 2, skal de kompetente myndigheder i investeringsinstituttets hjemland tage stilling til administrationsselskabets ansøgning om at administrere investeringsinstituttet i henhold til artikel 20, hvis et investeringsinstitut ikke er oprettet i administrationsselskabets hjemland.
Without prejudice to paragraph 2, if the UCITS is not established in the management company’s home Member State, the competent authorities of the UCITS home Member State shall decide, on the application of the management company, to manage the UCITS pursuant to Article 20.
Det skal ikke være en betingelse for godkendelse, at investeringsinstituttet administreres af et administrationsselskab, der har sit vedtægtsmæssige hjemsted i investeringsinstituttets hjemland, eller at administrationsselskabet udfører eller delegerer visse aktiviteter i investeringsinstituttets hjemland.
Authorisation shall not be subject either to a requirement that the UCITS be managed by a management company having its registered office in the UCITS home Member State or that the management company pursue or delegate any activities in the UCITS home Member State.
De kompetente myndigheder i investeringsinstituttets hjemland skal ikke godkende et investeringsinstitut, hvis:
The competent authorities of the UCITS home Member State shall not authorise a UCITS if:
de konstaterer, at investeringsselskabet ikke opfylder betingelserne i kapitel V, eller
they establish that the investment company does not comply with the preconditions laid down in Chapter V; or
administrationsselskabet ikke er godkendt til at administrere investeringsinstitutter i sit hjemland.
the management company is not authorised for the management of UCITS in its home Member State.
Uden at det berører artikel 29, stk. 2, skal administrationsselskabet eller, hvor dette er relevant, investeringsselskabet inden to måneder efter indgivelsen af fyldestgørende ansøgning have meddelelse om, hvorvidt der meddeles godkendelse af investeringsinstituttet.
Without prejudice to Article 29(2), the management company or, where applicable, the investment company, shall be informed, within two months of the submission of a complete application, whether or not authorisation of the UCITS has been granted.