natgillin/translations-raw huggingface dataset:
1 og 3 iii ) forstaas ved « pengemarkedsinstrumenter ` - som ved anvendelsen af dette direktiv sidestilles med vaerdipapirer - de kategorier af instrumenter , der normalt omsaettes paa pengemarkedet , og som medlemsstaterne anser for - at vaere likvide , og - at kunne vaerdiansaettes paa et hvilket som helst tidspunkt eller mindst med det i artikel 34 anfoerte interval bortset fra de teknikker og instrumenter , der er naevnt i artikel 21 , stk . 1 og 3 .
( iii ) « Money market instruments » which , for the purposes of this Directive , shall be regarded as transferable securities , shall mean those classes of transferable instruments normally dealt in on the money market which the Member States consider to : - be liquid , and - have a value which can be accurately determined at any time or at least with the frequency stipulated in Article 34 excluding the techniques and instruments referred to in Article 21 ( 1 ) and ( 3 ) .
« - AEndring nr. 2 Artikel 8 , stk . 1 , affattes saaledes : » 1 .
« - Amendment No 2 In Article 8 , paragraph 1 , is replaced by : « 1 .
En depositar skal vaere etableret i samme medlemsstat som administrationsselskabet .
A depositary must have an establishment in the same Member States as that of the management company .
« - AEndring nr. 3 I artikel 8 indsaettes som stk . 4 og 5 : » 4 .
« - Amendment No 3 In Article 8 the following two paragraphs shall be added : « 4 .
Uanset bestemmelserne i stk .
By way of derogation from paragraph 1 , an undertaking [. .
1 maa et foretagende , der er godkendt til at opbevare og administrere vaerdipapirer i overensstemmelse med direktiv 89/646 / EOEF eller direktiv 93/22 / EOEF , ikke forhindres i at fungere som depositar i henhold til reglerne om fri udveksling af tjenesteydelser .
] whose authorization under Directive 89/646 / EEC or Directive 93/22 / EEC permits it to provide safekeeping and administration services shall not be prevented from exercising the function of depositary on the basis of the freedom to provide services .
For at kunne udoeve denne funktion skal foretagendet : - overholde bestemmelserne i artikel 7 , 9 , 10 og 11 - erklaere , at det har fuldt kendskab til den lovgivning , der gaelder for det , naar det yder depositartjenester paa tvaers af graenserne - give de myndigheder , der foerer tilsyn med investeringsforeningen , alle oenskede oplysninger - overholde de tilsynsregler , der er fastsat i samarbejdsaftaler mellem myndigheder i de relevante stater .
To exercise this freedom , the undertaking must : - comply with the provisions of Articles 7 , 9 , 10 and 11 , - declare that it has full knowledge of the legislation applicable to it when providing cross-border depositary services , - provide the competent authorities responsible for supervision of the unit trust with all information they may require , - conform to the supervisory rules provided for within cooperation agreements concluded between authorities of the relevant States .
De myndigheder , der foerer tilsyn med investeringsforeningen , kan anmode de myndigheder , der er ansvarlige for tilsynet med den enhed , der oensker at fungere som depositar , om at samarbejde med henblik paa at vurdere dens organisering .
The authorities responsible for the supervision of the unit trust may request the authorities responsible for supervision of the entity which is candidate to be a depositary to cooperate in order to assess its organization .
Det skal anfoeres i ovennaevnte samarbejdsaftaler , at saafremt de myndigheder , der er ansvarlige for investeringsforeningen , ikke har vaeret i stand til at loese en ureglementeret situation hos den depositar , der fungerer i henhold til reglerne om fri udveksling af tjenesteydelser , skal myndighederne i depositarens hjemland traeffe passende foranstaltninger til at afklare dette problem .
The abovementioned cooperation agreements must state that , in case the responsible authorities of the unit trust have not been able to resolve an irregular situation of the depositary operating under the freedom to provide services , the home country authorities of the depositary must take appropriate measures to resolve that situation .
Medlemsstaterne maa ikke over for depositarer , der er filialer af foretagender eller selskaber med hjemsted uden for Faellesskabet , anvende bestemmelser , som stiller dem mere gunstigt end depositarer , der er filialer af foretagender eller selskaber med hjemsted i Faellesskabet , for saa vidt angaar optagelse eller udoevelse af virksomhed .
Member States shall not apply to depositaries which are branches of institutions or firms having their head office outside the Community , when commencing or carrying on their services , provisions which result in more favourable treatment than that accorded to depositaries which are branches of institutions or firms having their head office in the Community .
« - AEndring nr. 4 Artikel 15 , stk . 1 , affattes saaledes : » 1 .
- Amendment No 4 In Article 15 , paragraph 1 , is replaced by : « 1 .
En depositar skal vaere etableret i samme medlemsstat som investeringsselskabet .
A depositary must have an establishment in the same Member State as that of the investment company .
« - AEndring nr. 5 I artikel 15 indsaettes som stk . 4 og 5 : » 4 .
« - Amendment No 5 In Article 15 the following two paragraphs shall be added : « 4 .
For at kunne udoeve denne funktion skal foretagendet : - overholde bestemmelserne i artikel 7 , 9 , 10 og 11 - erklaere , at det har fuldt kendskab til den lovgivning , der gaelder for det , naar det yder depositartjenester paa tvaers af graenserne - give de myndigheder , der foerer tilsyn med investeringsforeningen , alle oenskede oplysninger - overholde de tilsynsregler , der er fastsat i samarbejdsaftaler mellem myndigheder i de relevante stater .
To exercise this freedom , the undertaking must : - comply with the provisions of Articles 7 , 9 , 10 and 11 , - declare that it has full knowledge of the legislation application to it when providing cross-border depositary services , - provide the competent authorities responsible for supervision of the investment company with all information they may require , - conform to the supervisory rules provided for within cooperation agreements concluded between authorities of the relevant States .
De myndigheder , der foerer tilsyn med investeringsforeningen , kan anmode de myndigheder , der er ansvarlige for tilsynet med den enhed , der oensker at fungere som depositar , om at samarbejde med henblik paa at vurdere dens organisering .
The authorities responsible for the supervision of the investment company may request the authorities responsible for supervision of the entity which is candidate to be a depositary to cooperate in order to assess its organization .
Det skal anfoeres i ovennaevnte samarbejdsaftaler , at saafremt de myndigheder , der er ansvarlige for investeringsforeningen , ikke har vaeret i stand til at loese en ureglementeret situation hos den depositar , der fungerer i henhold til reglerne om fri udveksling af tjenesteydelser , skal myndighederne i depositarens hjemland traeffe passende foranstaltninger til at afklare dette problem .
The abovementioned cooperation agreements must state that , in case the responsible authorities of the investment company have not been able to resolve an irregular situation of the depositary operating under the freedom to provide services , the home country authorities of the depositary must take appropriate measures to resolve that situation .
« - AEndring nr. 6 I artikel 19 , stk . 1 , tilfoejes foelgende litra e ) : » og / eller e ) pengemarkedsinstrumenter .
« - Amendment No 6 In Article 19 the following shall be added to paragraph 1 : « and / or ( e ) money market instruments .
Saafremt de paagaeldende instrumenter ikke er optaget til officiel notering paa en fondsboers eller ikke omsaettes paa andre regulerede , regelmaessigt fungerende , anerkendte og offentligt tilgaengelige markeder , skal de , medmindre emissionen af de paagaeldende instrumenter i sig selv er reguleret med henblik paa at beskytte investorerne og de opsparede midler - vaere udstedt eller garanteret af en centraladministration , en regional eller lokal myndighed , en centralbank i en medlemsstat , Den Europaeiske Union , Den Europaeiske Investeringsbank , et tredjeland eller , i tilfaelde af forbundsstater , disses delstater , eller af en international institution af offentlig karakter , i hvilken en eller flere medlemsstater deltager , eller - vaere udstedt af foretagender , hvis vaerdipapirer er optaget til officiel notering paa en fondsboers eller omsaettes paa andre regulerede , regelmaessigt fungerende , anerkendte og offentligt tilgaengelige markeder , eller - vaere udstedt eller garanteret af et foretagende , der er omfattet af forsigtighedstilsyn efter retningslinjer , der er fastlagt i faellesskabsretten , eller af foretagender , der er underlagt og opfylder tilsynsregler , som af dekompetente myndigheder anses for at vaere mindst lige saa strenge som dem , der er fastsat i faellesskabsretten .
If such instruments are not admitted to official listing on a stock exchange or are not dealt in on other regulated markets which operate regularly , are recognized and are open to the public and unless the issue of such instruments is itself regulated for the purpose of protecting investors and savings , they must : - be issued or guaranteed by a central , regional or local authority , a central bank of a Member State , the European Union or the European Investment bank , a non-Member State or , if the latter is a Federal State , by one of the members making up the federation , or by a public international body to which one or more Member States belong , or - be issued by an undertaking the securities of which have been admitted to official listing on a stock exchange or are dealt in on other regulated markets which operate regularly , are recognized and are open to the public , or - be issued or guaranteed by an establishment subject to prudential supervision , in accordance with criteria defined by Community law or by establishment which are subject to and comply with prudential rules considered by the competent authorities as at least as stringent as those laid down by Community laws .
« - AEndring nr. 7 I artikel 19 , stk . 2 , litra b ) , efter » 10 % af deres formue i fordringer , « indsaettes « bortset fra pengemarkedsinstrumenter `.
« - Amendment No 7 In Article 19 , paragraph 2 ( b ) after « 10 % of its assets in debt instruments ` shall be added « other than money market instruments `.
- AEndring nr. 7a Artikel 19 , stk . 4 , affattes saaledes : » 4 .
- Amendment No 7a Article 19 , paragraph 4 , shall be replaced by : « 4 .
Et investeringsinstitut maa investere hoejst 25 % af sin formue i indskud hos kreditinstitutter .
A Ucits may invest up to 25 % of its assets in deposits with credit institutions .
Denne graense gaelder ikke for : a ) investeringsinstitutter , der er oprettet som « cash funds ` som fastsat i artikel 22 , stk .
This limit shall not apply to : ( a ) Ucits constituted as « cash funds » as laid down in Article 22 ( 6 ) ;
6 b ) accessoriske likvide midler , som lejlighedsvis besiddes af et investeringsinstitut af enhver art. « - AEndring nr. 8 I artikel 21 indsaettes som stk . 3 : » 3 .
( b ) ancillary liquid assets held incidentally by a Ucits of any kind . « - Amendment No 8 In Article 21 the following paragraph shall be added : « 3 .
I denne sammenhaeng kan investeringsinstitutterne udfoere transaktioner i afledte finansielle instrumenter , saasom finansielle futures og optioner , saafremt risiciene i forbindelse med saadanne instrumenter er daekket af [.
In this context Ucits may carry out transactions in financial derivative instruments , such as financial futures and options , provided that the exposures relating so such instruments are covered by [.
] aktiver , som med rimelighed kan forventes at kunne indfri enhver faktisk eller potentiel forpligtelse , der bestaar eller kan opstaa som foelge af selve de afledte instrumenter .
] assets which may reasonably be expected to fulfil actual or potential obligations which exist or may arise as a result of the derivatives themselves .
« - AEndring nr. 9 I artikel 22 indsaettes som stk . 6 : » 6 .
« - Amendment No 9 In Article 22 the following paragraph shall be added : « 6 .
Uanset den i artikel 19 , stk . 4 , fastsatte graense maa et investeringsinstitut investere hele sin formue i indskud hos kreditinstitutter , forudsat :
Notwithstanding the limit laid down in Article 19 ( 4 ) , a Ucits may invest all its assets in deposits with credit institutions provided that :
a ) at det i sine vedtaegter eller fondsbestemmelser og i sit prospekt eller andet reklamemateriale udtrykkeligt har naevnt , at det er en « cash fund ` b ) at det ikke har anbragt mere end 25 % af sine indskud i ét og samme kreditinstitut eller i kreditinstitutter inden for samme gruppe .
( a ) it has expressly mentioned in its instruments of incorporation or fund rules and in its prospectus or any promotional literature that it is a « cash fund » ; ( b ) it has placed no more than 25 % of its deposits with the same credit institution or credit institutions within the same group .
« - AEndring nr. 10 I artikel 24 , stk . 1 , aendres « artikel 1 , stk .
« - Amendment No 10 In Article 24 , paragraph 1 , « of the first and second indents of Article 1 ( 2 )` shall be replaced by « of the first and third indents of Article 1 ( 2 ) ( i )`.
- AEndring nr. 11 I artikel 24 , stk . 2 , aendres » 5 % « til » 10 % «.
- Amendment No 11 In Article 24 , paragraph 2 , « 5 %` shall be replaced by « 10 %`.
- AEndring nr. 12 Artikel 25 , stk . 1 , affattes saaledes : » 1 .
- Amendment No 12 In Article 25 , paragraph 1 , shall be replaced by the following : « 1 .
Et investeringsselskab eller et administrationsselskab maa for saa vidt angaar samtlige de investeringsfonde , de administrerer , og som henhoerer under dette direktivs anvendelsesomraade , ikke erhverve aktier med stemmeret , som direkte eller indirekte goer det muligt at udoeve en betydelig indflydelse paa emittentens drift .
An investment company or a management company acting in connection with all of the unit trusts which it manages and which falls within the scope of this Directive may not acquire any shares carrying voting rights which directly or indirectly make it possible to exercise a significant influence over the management of the issuing body .
Besidder et investerings - eller et administrationsselskab 10 % eller mere af stemmerettighederne som defineret i artikel 7 i direktiv 88/627 / EOEF , foreligger der en begrundet formodning om betydelig indflydelse .
An investment company 's or a management company 's holding of 10 % or more of the voting rights defined in Article 7 of Directive 88/627 / EEC shall constitute a presumption of significant influence .
For saa vidt angaar administrationsselskaber , tages der ved beregning af stemmerettighederne hensyn til de rettigheder , som administrationsselskabet selv indehaver , og dem , der indehaves af samtlige de investeringsfonde , som det administrerer .
In the case of management companies , the calculation of voting rights shall take account of the rights held by a management company itself and by all the unit trusts it manages .
Medlemsstaterne kan fastsaette en lavere procentsats end den i foregaaende afsnit naevnte .
Member States may set a percentage lower than that referred to in the preceding subparagraph .
Medlemsstaterne kan give investerings - eller administrationsselskaberne adgang til at godtgoere , at overskridelse af taersklen ikke i sig selv er et udtryk for , at der udoeves betydelig indflydelse .
Member States may allow investment companies and management companies to demonstrate that the threshold may be exceeded without constituting exercise of a significant influence .
« - AEndring nr. 13 I artikel 25 , stk . 2 , tredje led , aendres « i artikel 1 , stk .
« - Amendment No 13 In Article 25 , paragraph 2 , third indent , « of the first and second indents of Article 1 ( 2 )` shall be replaced by « of the first and third indents of Article 1 ( 2 ) ( i )`.
- AEndring nr. 14 Efter artikel 26 indsaettes som artikel 26a og 26b : » Artikel 26a Uanset artikel 24 , stk . 2 , artikel 24 , stk .
- Amendment No 14 After Article 26 the following new Articles 26a and 26b shall be added : « Article 26a Notwithstanding Article 24 ( 2 ) , Article 24 ( 3 ) first subparagraph and Article 25 ( 2 ) third indent a Ucits ( hereinafter referred to as a « fund of Ucits ") may invest its assets in units issued by other Ucits provided that the following conditions are met :
3 , foerste afsnit , og artikel 25 , stk . 2 , tredje led , kan et investeringsinstitut ( i det foelgende benaevnt « investeringsinstitutfond `) investere sin formue i andele i andre investeringsinstitutter , forudsat at foelgende betingelser er opfyldt :
( a ) a fund of Ucits must invest its assets exclusively in units issued by Ucits subject to the provisions of this Directive .
a ) investeringsinstitutfonden investerer sin formue udelukkende i andele i investeringsinstitutter , som er underlagt bestemmelserne i dette direktiv . Den kan besidde bankindskud og kan accessorisk besidde likvide midler i overensstemmelse med artikel 19 , stk .
It may hold banking deposits and ancillary liquid assets in accordance with Article 19 ( 4 ) , but must not invest in transferable securities , or in units issued by other funds of Ucits ;
4 , men maa ikke investere i vaerdipapirer eller i andele i andre investeringsinstitutfonde b ) investeringsinstitutfonden maa hoejst investere 20 % af sin formue i ét og samme investeringsinstitut , som opfylder kriterierne i litra a ) c ) en investeringsinstitutfond skal i sine vedtaegter eller fondsbestemmelser og i sit prospekt og andet reklamemateriale beskrive de karakteristiske egenskaber ved de investeringsinstitutter , i hvis andele den maa investere .
( b ) a fund of Ucits must not invest more than 20 % of its assets in a single Ucits which meets the criteria set out in ( a ) ; ( c ) a fund of Ucits must describe in its instruments of incorporation or fund rules and in its prospectus and any promotional literature the characteristics of the Ucits in the units of which it is authorized to invest .
Prospektet skal tydeligt beskrive arten af gebyrer , skatter , afgifter , vederlag og andre udgifter , som direkte eller indirekte forventes afholdt af investeringsinstitutfondens deltagere .
The prospectus must clearly describe the nature of fees , charges , taxes , commissions and other costs which directly or indirectly are expected to be borne by the fund of Ucits » unit-holders .
3 , foerste afsnit , og artikel 25 , stk . 2 , tredje led , kan en medlemsstat tillade et investeringsinstitut (` feeder fund `) at investere sin formue i andele i et enkelt investeringsinstitut (` master fund `) , hvis andele derfor distribueres indirekte gennem en eller flere feeder funds , forudsat : a ) at alle feeder funds og master fund' en er underlagt bestemmelserne i dette direktiv b ) at der etableres et kontraktforhold mellem master fund' en og hver feeder fund .
Article 26b Notwithstanding Article 24 ( 2 ) , Article 24 ( 3 ) , first subparagraph and Article 25 ( 2 ) third indent , Member States may authorize a Ucits (" a feeder fund ") to invest its assets in units issued by one single Ucits (" a master fund ") , whose units would therefore be distributed indirectly through one or more feeder funds , provided that : ( a ) all feeder funds and the master fund are Ucits governed by this Directive ; ( b ) a contractual relationship between the master fund and each feeder fund is established .
Denne kontrakt skal indeholde : - alle de rettigheder , som investoren i feeder fund' en har i relation til master fund' en og dens depositar , og som enten direkte eller indirekte kan goeres gaeldende - de vigtigste traek ved master fund' ens investeringspolitik - de regler , der gaelder for en eventuel aendring af master fund' ens investeringspolitik - en bestemmelse , hvori det fastsaettes , at alle oplysninger vedroerende master fund' en er tilgaengelige for feeder fund' ens tilsynsmyndighed , og at alle oplysninger vedroerende feeder fund' en er tilgaengelige for master fund' ens tilsynsmyndighed c ) at feeder fund' ens prospekt indeholder : - en noejagtig beskrivelse af det i litra b ) omhandlede kontraktsforhold og af dets indhold - alle oplysninger om dens afgifter og administrationsgebyrer , master fund' ens afgifter og gebyrer samt det skattesystem , der gaelder for begge fonde - alle oplysninger om organisationen og master fund' ens investeringspolitik - en beskrivelse af investorens rettigheder over for den i litra b ) omhandlede master fund .
This contract must include : - all the rights which the investor in the feeder possesses in relation to the master fund and its depositary , which may be invoked either directly or , indirectly , - the main characteristics of the master fund 's investment policy , - the rules which govern the possible modification of the investment policy of the master fund , - a provision which states that all information concerning the master is available to the feeder 's supervisory authority and that all information concerning the feeder is available to the master 's supervisory authority ; ( c ) the feeder fund has included in its prospectus : - an accurate description of the contractual relationship provided for in ( b ) and of its content , - all information about its charges and management fees , the master fund 's charges and fees and the system of taxation applied to both funds , - all information concerning the organization and the investment policy of the master fund , - a description of the rights of the investor towards the master fund provided for in ( b ) ;
d ) saafremt feeder fund' en og master fund' en er beliggende i forskellige medlemsstater , underrettes de paagaeldende kompetente myndigheder om strukturen i og forbindelserne mellem disse to fonde , saaledes at de er i stand til at arbejde snaevert sammen i overensstemmelse med bestemmelserne i artikel 50 i dette direktiv
( d ) in case the feeder fund and the master fund are situated in different Member States , the competent authorities concerned are informed of the structure and the linkages of these two funds so that they are able to collaborate closely in accordance with the provisions of Article 50 of this Directive ;
e ) at feeder fund' en udelukkende investerer i andele i master fund' en og kan besidde bankindskud og accessorisk kan besidde likvide midler i overensstemmelse med artikel 19 , stk . 4 .
( e ) the feeder fund invests exclusively in units of the master fund and may hold banking deposits and ancillary liquid assets in accordance with Article 19 ( 4 ) ;
« - AEndring nr. 15 Artikel 44 , stk . 2 , affattes saaledes : » 2 .
« - Amendment No 15 In Article 44 , paragraph 2 , shall be replaced by the following : « 2 .
1 er ikke til hinder for , at investeringsinstitutter med hjemsted i en anden medlemsstat kan reklamere for deres andele ved anvendelse af ethvert til raadighed staaende kommunikationsmiddel i vaertslandet , naar de blot overholder reglerne for saadan reklame , der i denne stat er vedtaget ud fra hensynet til samfundsmaessige interesser .
Nothing in paragraph 1 shall prevent Ucits with head offices in other Member States from advertising their units through all available means of communication in the host Member State , subject to any rules governing the form and the content of such advertising adopted in the interest of the general good .
« - AEndring nr. 16 I artikel 47 erstattes ordene » paa mindst et af sidstnaevnte stats nationale sprog « af » paa et sprog , som uden vanskeligheder forstaas af investorerne i sidstnaevnte stat «.
« - Amendment No 16 In Article 47 , the following words « in at least one of that other Member State 's official languages `, is replaced by « in a language which is easily understandable for the investors concerned in that other Member State `.
- AEndring nr. 16a I artikel 49 indsaettes foelgende som stk . 5 , 6 og 7 : » 5 .
- Amendment No 16a In Article 49 new paragraphs shall be added : « 5 .