natgillin/translations-raw huggingface dataset:
Denne forordning indeholder bestemmelser om ensartede krav til og vilkår for forvaltere af kollektive investeringsvirksomheder, som ønsker at anvende betegnelsen »EuVECA« i forbindelse med markedsføring af kvalificerede venturekapitalfonde i Unionen, og som dermed bidrager til at sikre, at det indre marked fungerer korrekt.
This Regulation lays down uniform requirements and conditions for managers of collective investment undertakings that wish to use the designation ‘EuVECA’ in relation to the marketing of qualifying venture capital funds in the Union, thereby contributing to the smooth functioning of the internal market.
Den fastsætter ensartede bestemmelser om markedsføring af kvalificerede venturekapitalfonde over for berettigede investorer i hele Unionen, om kvalificerede venturekapitalfondes porteføljesammensætning, om de kvalificerede investeringsinstrumenter og -teknikker, som kvalificerede venturekapitalfonde skal anvende, samt om organisation, adfærd og gennemsigtighed, for så vidt angår forvaltere, der markedsfører kvalificerede venturekapitalfonde i hele Unionen.
It also lays down uniform rules for the marketing of qualifying venture capital funds to eligible investors across the Union, for the portfolio composition of qualifying venture capital funds, for the eligible investment instruments and techniques to be used by qualifying venture capital funds as well as for the organisation, conduct and transparency of managers that market qualifying venture capital funds across the Union.
Denne forordning finder anvendelse på forvaltere af kollektive investeringsvirksomheder, som defineret i artikel 3, litra a), som opflyder følgende betingelser:
This Regulation applies to managers of collective investment undertakings as defined in point (a) of Article 3 that meet the following conditions:
deres samlede forvaltede aktiver overstiger ikke den tærskelværdi, der omhandles i artikel 3, stk. 2, litra b), i direktiv 2011/61/EU
their assets under management in total do not exceed the threshold referred to in point (b) of Article 3(2) of Directive 2011/61/EU;
de er etableret Unionen
they are established in the Union;
de er underlagt registreringspligt hos de kompetente myndigheder i deres hjemland, jf. artikel 3, stk. 3, litra a), i direktiv 2011/61/EU, og
they are subject to registration with the competent authorities of their home Member State in accordance with point (a) of Article 3(3) of Directive 2011/61/EU; and
de forvalter kvalificerede venturekapitalfondes porteføljer.
they manage portfolios of qualifying venture capital funds.
Overstiger de samlede aktiver, der forvaltes af forvaltere af kvalificerede venturekapitalfonde, som er registreret i overensstemmelse med artikel 14, grænseværdien i artikel 3, stk. 2, litra b), i direktiv 2011/61/EU, og bliver disse forvaltere derfor underlagt godkendelsespligt hos de kompetente myndigheder i deres hjemland i overensstemmelse med nævnte direktivs artikel 6, kan de fortsat anvende betegnelsen »EuVECA« i forbindelse med markedsføring af kvalificerede venturekapitalfonde i Unionen, under forudsætning af at de til enhver tid i forbindelse med de kvalificerede venturekapitalfonde:
Where the total assets under management of managers of qualifying venture capital funds registered in accordance with Article 14 subsequently exceed the threshold referred to in point (b) of Article 3(2) of Directive 2011/61/EU, and where those managers are therefore subject to authorisation in accordance with Article 6 of that Directive, they may continue to use the designation ‘EuVECA’ in relation to the marketing of qualifying venture capital funds in the Union, provided that, at all times in relation to the qualifying venture capital funds that they manage, they:
opfylder kravene i direktiv 2011/61/EU, og
comply with the requirements laid down in Directive 2011/61/EU; and
overholder nærværende forordnings artikel 3 og 5 og artikel 13, stk. 1, litra c) og i).
continue to comply with Articles 3 and 5 and points (c) and (i) of Article 13(1) of this Regulation.
Forvaltere af kvalificerede venturekapitalfonde, der er eksterne forvaltere, og som er registreret i overensstemmelse med artikel 14, kan endvidere forvalte visse institutter for kollektiv investering i værdipapirer (investeringsinstitutter) efter opnåelse af tilladelse efter direktiv 2009/65/EF.
Where managers of qualifying venture capital funds are external managers and are registered in accordance with Article 14, they may additionally manage undertakings for collective investment in transferable securities (UCITS), subject to authorisation under Directive 2009/65/EC.
»kollektiv investeringsvirksomhed« en AIF som defineret i artikel 4, stk. 1, litra a), i direktiv 2011/61/EU
‘collective investment undertaking’ means an AIF as defined in point (a) of Article 4(1) of Directive 2011/61/EU;
»kvalificeret venturekapitalfond« en kollektiv investeringsvirksomhed, som:
‘qualifying venture capital fund’ means a collective investment undertaking that:
har til hensigt at investere mindst 70 % af den samlede indbetalte kapital og ikke-indkaldte forpligtede kapital i aktiver, som er kvalificerede investeringer, beregnet på grundlag af de beløb, der kan investeres efter fradrag af alle relevante omkostninger og kontantbeholdninger eller kontantlignende instrumenter, inden for en tidsramme, som er fastlagt i dens regler eller vedtægter
intends to invest at least 70 % of its aggregate capital contributions and uncalled committed capital in assets that are qualifying investments, calculated on the basis of amounts investible after deduction of all relevant costs and holdings in cash and cash equivalents, within a time frame laid down in its rules or instruments of incorporation;
ikke bruger mere end 30 % af sin samlede indbetalte kapital og ikke-indkaldte forpligtede kapital til erhvervelse af aktiver, som ikke er kvalificerede investeringer, beregnet på grundlag af de beløb, der kan investeres efter fradrag af alle relevante omkostninger og kontantbeholdninger eller kontantlignende instrumenter
does not use more than 30 % of its aggregate capital contributions and uncalled committed capital for the acquisition of assets other than qualifying investments, calculated on the basis of amounts investible after deduction of all relevant costs and holdings in cash and cash equivalents;
er etableret på en medlemsstats område
is established within the territory of a Member State;
»forvalter af kvalificerede venturekapitalfonde« en juridisk person, hvis normale erhvervsvirksomhed består i at forvalte mindst én kvalificeret venturekapitalfond
‘manager of a qualifying venture capital fund’ means a legal person the regular business of which is managing at least one qualifying venture capital fund;
»kvalificeret porteføljevirksomhed« en virksomhed, som:
‘qualifying portfolio undertaking’ means an undertaking that:
på det tidspunkt, hvor den kvalificerede venturekapitalfond foretager en investering:
at the time of an investment by the qualifying venture capital fund
ikke er optaget til handel på et reguleret marked eller i en multilateral handelsfacilitet (MHF) som defineret i artikel 4, stk. 1, nr. 14) og 15), i direktiv 2004/39/EF
is not admitted to trading on a regulated market or on a multilateral trading facility (MTF) as defined in points (14) and (15) of Article 4(1) of Directive 2004/39/EC,
har under 250 ansatte, og
employs fewer than 250 persons, and
har en årlig omsætning på højst 50 mio. EUR eller en samlet årlig balance på højst 43 mio. EUR
has an annual turnover not exceeding EUR 50 million or an annual balance sheet total not exceeding EUR 43 million;
ikke selv er en kollektiv investeringsvirksomhed
is not itself a collective investment undertaking;
ikke er et eller flere af følgende:
is not one or more of the following:
et kreditinstitut som defineret i artikel 4, nr. 1, i Europa-Parlamentets og Rådets direktiv 2006/48/EF af 14. juni 2006 om adgang til at optage og udøve virksomhed som kreditinstitut [10]et investeringsselskab som defineret i artikel 4, nr. 1, i direktiv 2004/39/EF
a credit institution as defined in point (1) of Article 4 of Directive 2006/48/EC of the European Parliament and of the Council of 14 June 2006 relating to the taking up and pursuit of the business of credit institutions [10],an investment firm as defined in point (1) of Article 4(1) of Directive 2004/39/EC,
et forsikringsselskab som defineret i artikel 13, nr. 1, i Europa-Parlamentets og Rådets direktiv 2009/138/EF af 25. november 2009 om adgang til og udøvelse af forsikrings- og genforsikringsvirksomhed (Solvens II) [11]et finansielt holdingselskab som defineret i artikel 4, nr. 19, i direktiv 2006/48/EF, eller
an insurance undertaking as defined in point (1) of Article 13 of Directive 2009/138/EC of the European Parliament and of the Council of 25 November 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) [11],a financial holding company as defined in point (19) of Article 4 of Directive 2006/48/EC, or
et blandet holdingselskab som defineret i artikel 4, nr. 20, i direktiv 2006/48/EF
a mixed-activity holding company as defined in point (20) of Article 4 of Directive 2006/48/EC;
er etableret på en medlemsstats område eller i et tredjeland, forudsat at dette tredjeland:
is established within the territory of a Member State, or in a third country provided that the third country:
ikke er registreret som ikke-samarbejdsvilligt land eller territorium af den Finansielle Aktionsgruppe om forebyggelse af hvidvaskning af penge og finansiering af terrorisme
is not listed as a Non-Cooperative Country and Territory by the Financial Action Task Force on Anti-Money Laundering and Terrorist Financing,
har undertegnet en aftale med hjemlandet for forvalteren af kvalificerede venturekapitalfonde og med alle andre medlemsstater, hvor det er hensigten, at den kvalificerede venturekapitalfonds andele eller aktier skal markedsføres, så det sikres, at tredjelandet fuldt ud overholder standarderne i artikel 26 i OECD's modelbeskatningsoverenskomst vedrørende indkomst og formue og sikrer effektiv udveksling af oplysninger om skatteforhold, herunder eventuelle multilaterale skatteaftaler
has signed an agreement with the home Member State of the manager of a qualifying venture capital fund and with each other Member State in which the units or shares of the qualifying venture capital fund are intended to be marketed to ensure that the third country fully complies with the standards laid down in Article 26 of the OECD Model Tax Convention on Income and on Capital and ensures an effective exchange of information in tax matters, including any multilateral tax agreements;
»kvalificerede investeringer« følgende instrumenter:
‘qualifying investments’ means any of the following instruments:
egenkapitalinstrumenter eller kvasi-egenkapitalinstrumenter, som er
equity or quasi-equity instruments that are issued by:
udstedt af en kvalificeret porteføljevirksomhed, og som den kvalificerede venturekapitalfond har erhvervet direkte fra den kvalificerede porteføljevirksomhed
a qualifying portfolio undertaking and acquired directly by the qualifying venture capital fund from the qualifying portfolio undertaking,
udstedt af en kvalificeret porteføljevirksomhed til gengæld for et egenkapitalinstrument udstedt af den kvalificerede porteføljevirksomhed, eller
a qualifying portfolio undertaking in exchange for an equity security issued by the qualifying portfolio undertaking, or
udstedt af en virksomhed, hvor den kvalificerede porteføljevirksomhed er et majoritetsejet datterselskab, og som den kvalificerede venturekapitalfond har erhvervet til gengæld for et egenkapitalinstrument udstedt af den kvalificerede porteføljevirksomhed
an undertaking of which the qualifying portfolio undertaking is a majority-owned subsidiary and which is acquired by the qualifying venture capital fund in exchange for an equity instrument issued by the qualifying portfolio undertaking;
sikrede og ikke-sikrede lån, som gives af den kvalificerede venturekapitalfond til en kvalificeret porteføljevirksomhed, hvor den kvalificerede venturekapitalfond allerede har kvalificerede investeringer, forudsat at højst 30 % af den samlede indbetalte kapital og ikke-indkaldte forpligtede kapital i aktiver i den kvalificerede venturekapitalfond anvendes til sådanne lån
secured or unsecured loans granted by the qualifying venture capital fund to a qualifying portfolio undertaking in which the qualifying venture capital fund already holds qualifying investments, provided that no more than 30 % of the aggregate capital contributions and uncalled committed capital in the qualifying venture capital fund is used for such loans;
aktier i en kvalificeret porteføljevirksomhed erhvervet fra eksisterende aktionærer i denne virksomhed
shares of a qualifying portfolio undertaking acquired from existing shareholders of that undertaking;
andre kvalificerede venturekapitalfondes andele eller aktier, forudsat at disse kvalificerede venturekapitalfonde ikke selv har investeret mere end 10 % af deres samlede indbetalte kapital og ikke-indkaldte forpligtede kapital i kvalificerede venturekapitalfonde
units or shares of one or several other qualifying venture capital funds, provided that those qualifying venture capital funds have not themselves invested more than 10 % of their aggregate capital contributions and uncalled committed capital in qualifying venture capital funds;
»relevante omkostninger« samtlige gebyrer, afgifter og udgifter, som afholdes direkte eller indirekte af investorerne, og som er aftalt mellem forvalteren af kvalificerede venturekapitalfonde og investorerne heri
‘relevant costs’ means all fees, charges and expenses which are directly or indirectly borne by investors and which are agreed between the manager of a qualifying venture capital fund and the investors therein;
»egenkapital« ejerskabsinteresse i en virksomhed, dvs. aktier eller andre former for andele i den kvalificerede porteføljevirksomheds kapital, udstedt til dennes investorer
‘equity’ means ownership interest in an undertaking, represented by the shares or other forms of participation in the capital of the qualifying portfolio undertaking, issued to its investors;
»kvasi-egenkapital« alle finansielle instrumenter, som er en kombination af egenkapital og gæld, hvor afkast hænger sammen med den kvalificerede porteføljevirksomheds overskud eller tab, og hvor der ikke er fuld sikkerhed for tilbagebetaling af instrumentet i tilfælde af misligholdelse
‘quasi-equity’ means any type of financing instrument which is a combination of equity and debt, where the return on the instrument is linked to the profit or loss of the qualifying portfolio undertaking and where the repayment of the instrument in the event of default is not fully secured;
»markedsføring« en direkte eller indirekte udbydelse eller placering på initiativ af forvalteren af kvalificerede venturekapitalfonde eller på vegne af denne af andele eller aktier i en venturekapitalfond, som forvaltes, til eller hos investorer, som er hjemmehørende eller har vedtægtsmæssigt hjemsted i Unionen
‘marketing’ means a direct or indirect offering or placement at the initiative of the manager of a qualifying venture capital fund, or on its behalf, of units or shares of a venture capital fund it manages to or with investors domiciled or with a registered office in the Union;
»forpligtet kapital« en forpligtelse, hvorefter en investor inden for en tidsramme, som er fastlagt i den kvalificerede venturekapitalfonds bestemmelser eller vedtægter, er forpligtet til at erhverve en interesse i eller at yde kapitalbidrag til den fond
‘committed capital’ means any commitment pursuant to which an investor is obliged, within the time frame laid down in the rules or instruments of incorporation of the qualifying venture capital fund, to acquire an interest in, or to make capital contributions to, that fund;
»hjemland« den medlemsstat, hvor forvalteren af kvalificerede venturekapitalfonde er etableret og underlagt registreringspligt hos de kompetente myndigheder, jf. artikel 3, stk. 3, litra a), i direktiv 2011/61/EU
‘home Member State’ means the Member State where the manager of a qualifying venture capital fund is established and is subject to registration with the competent authorities in accordance with point (a) of Article 3(3) of Directive 2011/61/EU;
»værtsland« den medlemsstat, som ikke er hjemlandet, og hvor forvalteren af kvalificerede venturekapitalfonde markedsfører kvalificerede venturekapitalfonde i overensstemmelse med denne forordning
‘host Member State’ means the Member State, other than the home Member State, where the manager of a qualifying venture capital fund markets qualifying venture capital funds in accordance with this Regulation;
»kompetent myndighed« den nationale myndighed, som hjemlandet ved lov eller anden forskrift udpeger til at registrere forvaltere af kollektive investeringsvirksomheder omfattet af nærværende forordnings anvendelsesområde.
‘competent authority’ means the national authority which the home Member State designates, by law or regulation, to undertake the registration of managers of collective investment undertakings falling within the scope of this Regulation.
For så vidt angår første afsnit, litra c), registreres den kvalificerede venturekapitalfond selv som forvalter af kvalificerede venturekapitalfonde i overensstemmelse med artikel 14, såfremt den kvalificerede venturekapitalfonds retlige form tillader intern forvaltning, og fondens styrende organ vælger ikke at udpege en ekstern forvalter.
In regard to point (c) of the first subparagraph, where the legal form of a qualifying venture capital fund permits internal management and where the governing body of the fund does not appoint an external manager, the qualifying venture capital fund itself shall be registered as the manager of a qualifying venture capital fund in accordance with Article 14.
En kvalificeret venturekapitalfond, som er registreret som en intern forvalter af kvalificerede venturekapitalfonde, kan ikke registreres som en ekstern forvalter af kvalificerede venturekapitalfonde af andre kollektive investeringsvirksomheder.
A qualifying venture capital fund that is registered as an internal manager of a qualifying venture capital fund shall not be registered as an external manager of a qualifying venture capital fund of other collective investment undertakings.
BETINGELSER FOR ANVENDELSE AF BETEGNELSEN »EuVECA«
CONDITIONS FOR THE USE OF THE DESIGNATION ‘EuVECA’
Forvaltere af kvalificerede venturekapitalfonde, som opfylder kravene i dette kapitel, er berettigede til at anvende betegnelsen »EuVECA« i forbindelse med markedsføring af kvalificerede venturekapitalfonde i Unionen.
Managers of qualifying venture capital funds that comply with the requirements set out in this Chapter shall be entitled to use the designation ‘EuVECA’ in relation to the marketing of qualifying venture capital funds in the Union.
Forvaltere af kvalificerede venturekapitalfonde sikrer, at der ved erhvervelse af aktiver, som ikke er kvalificerede investeringer, højst anvendes 30 % af fondens samlede indbetalte kapital og ikke-indkaldte forpligtede kapital til erhvervelse af sådanne aktiver.
Managers of qualifying venture capital funds shall ensure that, when acquiring assets other than qualifying investments, no more than 30 % of the fund’s aggregate capital contributions and uncalled committed capital is used for the acquisition of such assets.
Forvaltere af kvalificerede venturekapitalfonde må på den kvalificerede venturekapitalfonds niveau ikke anvende metoder, som forøger fondens eksponering ud over niveauet for dens forpligtede kapital, hvad enten dette sker ved lån af kontante midler eller værdipapirer, indgåelse af derivatpositioner eller på anden måde.
Managers of qualifying venture capital funds shall not employ at the level of the qualifying venture capital fund any method by which the exposure of the fund will be increased beyond the level of its committed capital, whether through borrowing of cash or securities, the engagement into derivative positions or by any other means.
Forvaltere af kvalificerede venturekapitalfonde må kun optage lån, udstede gældsforpligtelser og yde garantier på den kvalificerede venturekapitalfonds niveau, såfremt sådanne lån, gældsforpligtelser og garantier er dækket af ikke-indkaldte forpligtelser.
Managers of qualifying venture capital funds may only borrow, issue debt obligations or provide guarantees at the level of the qualifying venture capital fund where such borrowings, debt obligations or guarantees are covered by uncalled commitments.
Forvaltere af kvalificerede venturekapitalfonde markedsfører kun kvalificerede venturekapitalfondes andele og aktier til investorer, som anses for professionelle kunder, jf. afdeling I i bilag II til direktiv 2004/39/EF, eller som efter anmodning kan behandles som professionelle kunder, jf. afsnit II i bilag II til direktiv 2004/39/EF, eller til andre investorer, som:
Managers of qualifying venture capital funds shall market the units and shares of qualifying venture capital funds exclusively to investors which are considered to be professional clients in accordance with Section I of Annex II to Directive 2004/39/EC or which may, on request, be treated as professional clients in accordance with Section II of Annex II to Directive 2004/39/EC, or to other investors that:
forpligter sig til at investere mindst 100000 EUR, og
commit to investing a minimum of EUR 100000; and
skriftligt i et andet dokument end den kontrakt, der skal indgås om investeringsforpligtelsen, erklærer, at de er bekendt med de risici, der er forbundet med den påtænkte forpligtelse eller investering.
state in writing, in a separate document from the contract to be concluded for the commitment to invest, that they are aware of the risks associated with the envisaged commitment or investment.
Stk. 1 finder ikke anvendelse på investeringer foretaget af ledere, direktører eller ansatte, der er involveret i forvaltningen hos en forvalter af kvalificerede venturekapitalfonde, hvis de investerer i den kvalificerede venturekapitalfond, som de forvalter.
Paragraph 1 shall not apply to investments made by executives, directors or employees involved in the management of a manager of a qualifying venture capital fund when investing in the qualifying venture capital funds that they manage.
Forvaltere af kvalificerede venturekapitalfonde skal i forhold til de kvalificerede venturekapitalfonde, de forvalter:
Managers of qualifying venture capital funds shall, in relation to the qualifying venture capital funds they manage:
under udøvelsen af deres aktiviteter handle ærligt og redeligt og med passende dygtighed, omhu og hurtighed
act honestly, fairly and with due skill, care and diligence in conducting their activities;
anvende passende politikker og procedurer til forebyggelse af uregelmæssigheder, som med rimelighed kan forventes at påvirke investorernes interesser og de kvalificerede porteføljevirksomheder
apply appropriate policies and procedures for preventing malpractices that can reasonably be expected to affect the interests of the investors and the qualifying portfolio undertakings;
udøve deres erhvervsaktiviteter på en sådan måde, at de bedst muligt varetager interesserne for de kvalificerede venturekapitalfonde, som de forvalter, og for investorerne heri, samt tilgodeser markedets integritet
conduct their business activities in such a way as to promote the best interests of the qualifying venture capital funds they manage, the investors therein and the integrity of the market;
anvende stor omhu ved udvælgelse og løbende overvågning af investeringer i kvalificerede porteføljevirksomheder
apply a high level of diligence in the selection and ongoing monitoring of investments in qualifying portfolio undertakings;
have tilstrækkelig viden om og forståelse af de kvalificerede porteføljevirksomheder, som de investerer i
possess adequate knowledge and understanding of the qualifying portfolio undertakings in which they invest;
behandle deres investorer redeligt
treat their investors fairly;