law of 20 December 2002 - Alfi

The CSSF may request an auditor to perform a control on one or severalparticular aspects of the activities and operations of a UCI. This control isperformed at the expense of the UCI concerned.(4) The CSSF shall refuse or withdraw the entry on the list of UCIs whose auditordoes not satisfy the conditions or does not discharge the obligations prescribedin this Article.(5) The institution of commissaires aux comptes (statutory auditors) provided forby Articles 61, 109, 114 and 200 of the law of 10 August 1915 on commercialcompanies, as amended, is repealed with respect to Luxembourg investmentcompanies. The directors or the management organ, as the case may be, aresolely competent in all cases where the law of 10 August 1915 on commercialcompanies, as amended, provides for the joint action of the statutory auditorsand the directors or the management organ, as the case may be.The institution of statutory auditors 94 provided for by Article 151 of the law of10 August 1915 on commercial companies, as amended 95 , is not applicableto Luxembourg investment companies. Upon completion of the liquidation, areport on the liquidation shall be drawn up by the auditor. This report shall betabled at the general meeting at which the liquidators report on the applicationof the corporate assets and submit the accounts and supporting documents.The same meeting shall resolve on the approval of the accounts of the liquidation,the discharge and the closure of the liquidation.(6) The accounting information included in the annual reports of foreign UCIs asreferred to in Article 76 must be audited by an independent expert providing allguarantees of honourability and professional skill.Paragraphs (2), (3) and (4) are applicable to the case referred to in thisparagraph.Art. 114 (1) UCIs must send their simplified and full prospectuses and any amendmentsthereto, as well as their annual and semi-annual reports, to the CSSF.(2) The CSSF may publish or cause the publication of the aforesaid documents bysuch means as it shall consider adequate.Art. 115 (1) The simplified prospectus must be offered to subscribers free of charge beforethe conclusion of the contract.In addition, the full prospectus and the latest published annual and semi-annualreports must be remitted to subscribers free of charge upon their request.(2) The annual and semi-annual reports shall on request be supplied to unitholdersfree of charge.(3) The annual and semi-annual reports must be available to the public at theplaces or through other means approved by the CSSF specified in the full andsimplified prospectuses.94 commissaires aux comptes - A statutory auditor under company law is an organ of the Company with a certaincontrol and surveillance function.95 loi du 10 août 1915 concernant les sociétés commerciales, telle que modifiée61