Ordinance on Investment Undertakings (Investment Undertakings ...

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Article 25 Inventory 1) The inventory of investment undertakings for real estate shall at a minimum be divided into: a) construction sites including demolition objects; b) buildings on which construction has commenced; and c) completed buildings including land, divided into residential buildings, office buildings, and commercially utilized real properties. 2) For each real estate value, the inventory shall contain the following information separately: a) address; b) acquisition costs; c) insurance value; d) estimated market value; and e) gross income attained. 3) To the extent that investment undertakings for real estate invest in other types of investment in addition to real estate, they shall also document these types of investments. 4) A directory of the associated real estate companies shall be compiled for each investment undertaking for real estate. B. Investors Article 26 Exception to the right of cancellation at any time 1) In the case of investment undertakings for other values whose investments are only marketable to a limited extent or are difficult to value, the full and simplified prospectuses may provide that cancellation may only be effected as of specific deadlines, but at least once a year. 2) On application of a management company, the FMA may, in justified individual cases and depending on the type of the investments, au- 14
thorize additional cancellation deadlines or advancement of the payment deadline. Article 27 Suspension of repayment by the management 1) The full prospectus may provide that, under extraordinary circumstances, repayment may temporarily and exceptionally be suspended by the management company, in conjunction with a simultaneous suspension of the issue of units: a) if a market constituting the basis for valuation of a significant part of the assets is closed unexpectedly, or if trading on such a market is limited or suspended; b) in the case of political, economic, or other emergencies; or c) if transactions become impossible to perform for the investment undertaking due to limitations on the transfer of assets. 2) The management company shall immediately inform the FMA, the external audit office, and the investors, in an appropriate manner, of the suspension. 3) If a proper valuation of the assets is not possible, the management company shall immediately inform the FMA and submit proposals on appropriate measures. Article 28 Investment undertakings for qualified investors 1) The following provisions shall not apply to investment undertakings which are exclusively marketed to one or more qualified investors within the meaning of article 29 (investment undertakings for qualified investors): a) the licensing requirement according to article 55, paragraph 1, subparagraph (b) of the Act; b) the obligation to draw up full and simplified prospectuses pursuant to articles 5 and 8 of the Act and all other provisions relating to the full and simplified prospectuses; c) the obligation to draw up a half-yearly report pursuant to article 14 of the Act; 15
Page 1 and 2: Ordinance of 23 Au
Page 3 and 4: tractually governed forward transac
Page 5 and 6: Article 8 Name 1) The name of an in
Page 7 and 8: a) the full prospectuses so provide
Page 9 and 10: 5. Business report, half-yearly rep
Page 11 and 12: Article 20 Business report and half
Page 13: Article 23 Quarterly reporting 1) T
Page 17 and 18: 5) Amendments to the prospectus for
Page 19 and 20: 1. accounting services required by
Page 21 and 22: pecially in the event of insolvency
Page 23 and 24: D. Investment rules 1. Investment u
Page 25 and 26: ments), if they are permissible as
Page 27 and 28: nized international accounting prov
Page 29 and 30: article 39 and article 43, paragrap
Page 31 and 32: ) Special limitations Article 45 In
Page 33 and 34: creditworthiness risk, etc.), an in
Page 35 and 36: term loans for repaying units, up t
Page 37 and 38: Article 55 Special requirements 1)
Page 39 and 40: Article 58 Securing liabilities 1)
Page 41 and 42: considered unsegmented. All documen
Page 43 and 44: Article 68 Forms With respect to se
Page 45 and 46: Article 72 Volume and term 1) If it
Page 47 and 48: Article 78 Special obligations of t
Page 49 and 50: m) a confirmation by the Office of
Page 51 and 52: 4) The organization, in particular
Page 53 and 54: Article 87 b) Equity position If th
Page 55 and 56: V. Supervision of management compan
Page 57 and 58: Article 95 Foreign audit offices A
Page 59 and 60: a) the accounts are being kept prop
Page 61 and 62: a) the accuracy of the business and
Page 63 and 64: ) the information concerning issue,
Page 65 and 66:
Minimum content of the full prospec
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*2.1 designation or company name, d
Page 69 and 70:
4.2 main activity. 5 Information on
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2.5 profile of the typical investor
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niques and instruments, especially
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2. Off-balance-sheet operations The
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6. Number of units in circulation 6
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1.4.2 buildings on which constructi
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5. Change of net assets For each in
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account. 83
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Ordinance on Investment Undertakings (Investment Undertakings ...

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