Ordinance on Investment Undertakings (Investment Undertakings ...

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Article 35 b) Delegation of the investment decisions for investment undertakings for transferable securities 1) The delegation of investment decisions of an investment undertaking for transferable securities to third parties domiciled in another Member State of the EEA shall be approved by the FMA if such third parties are subject to appropriate supervision with respect to their asset management activities. 2) In the case of delegation of investment decisions to third parties domiciled in a third State, such third parties must, in addition to complying with the conditions set out in paragraph 1, be subject to supervision that is equivalent to Liechtenstein supervision, and cooperation between the concerned supervisory authorities must be ensured. 3) Article 34 shall apply mutatis mutandis. Article 36 Change of management company 1) The FMA shall approve a change of management company if the legal requirements on an investment undertaking continue to be fulfilled. The interests of the investors in the continuation of the investment undertaking shall be taken into account in this regard. 2) A written takeover agreement shall be required to take over rights and duties. 3) The planned change must be justified by the parties concerned and shall require the approval of the depositary bank. The external audit office required by law must be informed of the change. 4) The change must be published upon approval by the FMA in the publication medium of the investment undertaking. In this notice, the investors shall be informed that they may demand to return their units in accordance with the prospectus. 22
D. Investment rules 1. Investment undertakings for transferable securities a) Investments and risk diversification Article 37 Investments 1) At least 90% of the assets of the investments of an investment undertaking for transferable securities must consist of the following assets: a) transferable securities, book-entry securities, and money market instruments that are traded on an exchange or another regulated market open to the public; b) transferable securities from new issues, as long as they are intended for trading on an exchange or another regulated market open to the public and are admitted for trading after at most one year; c) sight deposits or callable deposits with a term of at most twelve months at credit institutions domiciled in a Member State of the EEA or in another State, if they are subject to supervision there that is equivalent to Liechtenstein supervision; d) money market instruments that are not traded on a regulated market, that are liquid, and whose value can be determined at any time, if the issue or the issuer is already subject to the provisions on deposit and investor protection and if: 1. the issue is launched or guaranteed by a Member State of the EEA, by a regional or local subdivision, by the central bank of a Member State of the EEA, by the European Central Bank, the European Union, by the European Investment Bank, by a third State, or, if the third State is a federal State, by a member State of the federation, or by an international institution of public law character to which at least one Member State of the EEA belongs; 2. the issue is launched by an undertaking whose transferable securities are traded on the regulated markets designated in subparagraph (a); 3. the issuer is subject to supervision equivalent to Liechtenstein supervision; 23
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 and 14: Article 23 Quarterly reporting 1) T
Page 15 and 16: thorize additional cancellation dea
Page 17 and 18: 5) Amendments to the prospectus for
Page 19 and 20: 1. accounting services required by
Page 21: pecially in the event of insolvency
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
Page 67 and 68: *2.1 designation or company name, d
Page 69 and 70: 4.2 main activity. 5 Information on
Page 71 and 72: 2.5 profile of the typical investor
Page 73 and 74:
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
Page 79 and 80:
1.4.2 buildings on which constructi
Page 81 and 82:
5. Change of net assets For each in
Page 83:
account. 83
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Ordinance on Investment Undertakings (Investment Undertakings ...

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