law of 20 December 2002 - Alfi

(2) any person who has issued or redeemed units of a common fund at a priceother than that obtained by application of the criteria provided for in Articles9 (1), 9 (3), 11 (3) and in Article 66 of this law to the extent that such Articleprovides that chapter 9 is subject to Articles 9 (1) and 9 (3) of this law;(3) any person who, as director or member of the management organ, as thecase may be, manager or commissaire (auditor) of the management companyor the depositary has made loans or advances on units of the common fundusing assets of the said fund, or who has by any means at the expense ofthe common fund, made payments in order to pay up units or acknowledgedpayments to have been made which have not actually been so made.Art. 121 (1) A penalty of imprisonment from one to six months and a fine of five hundred totwenty-five thousand euro or either of such penalties shall be imposed upon:1) any director or member of the management organ, as the case may be, ormanager of the management company who has failed to inform the CSSFwithout delay that the net assets of the common fund have fallen below twothirds and one fourth respectively of the legal minimum for the net assets ofthe common fund;2) any director or member of the management organ, as the case may be, ormanager of the management company who has infringed Article 10 andArticles 41 to 52 of this law, Article 66 of this law to the extent that suchArticle provides that chapter 9 is subject to Article 10 of this law and theregulations taken pursuant to Article 67 of this law.(2) A fine of five hundred to twenty-five thousand euro shall be imposed uponany persons who in infringement of Article 119 purport to use a designation ordescription giving the impression that they relate to the activities subject to thislaw if they have not obtained the authorisation provided for in Article 94.Art. 122Art. 123Art. 124A fine of five hundred to ten thousand euro shall be imposed on the directorsor members of the management organ, as the case may be, or managers ofthe management company or the investment company who have not causedthe issue and redemption price of the units of the UCI to be determined atthe specified intervals or who have not made such prices public according toArticle 116 of this law.A penalty of imprisonment from one month to one year and a fine of five hundredto twenty-five thousand euro or either of such penalties shall be imposed uponthe founders, directors or members of the management organ, as the casemay be, or managers of an investment company who have infringed the provisionsof Articles 28 (2), 28 (4), 28 (10) and 31 of this law; of Article 40 to theextent that it provides that chapter 4 is subject to Articles 28 (2), 28 (4), 28 (10)and 31 of this law; of Articles 41 to 52 of this law; of Article 71 of this law to theextent that it provides that chapter 10 is subject to Articles 28 (2) a), 28 (4), 28(10) and 31 of this law; of the regulations implementing Article 72 of this lawand of the regulations implementing Article 75 of this law.A penalty of imprisonment of one month to one year and a fine of five hundredto twenty-five thousand euro or either of such penalties shall be imposed uponthe directors or members of the management organ, as the case may be, ormanagers of an investment company who have not convened the extraordinarygeneral meeting in accordance with Article 30 of this law; Article 40 ofthis law to the extent that it provides that chapter 4 is subject to Article 30 of this63