(a) Where the master UCITS and the feeder UCITS have different auditors, those auditors shall enter into an information-sharing agreement in order to ensure the fulfilment of the duties of both auditors, including the arrangements taken to comply with the requirements of paragraph (2).
(b) A feeder UCITS authorised by the Bank shall not invest in units of a master UCITS until such agreement has become effective.
(a) In its audit report, the auditor of a feeder UCITS authorised by the Bank shall take into account the audit report of the master UCITS. The auditor of a feeder UCITS shall, in particular, report on any irregularities revealed in the audit report of the master UCITS and on their impact on the feeder UCITS.
(b) Where a master UCITS authorised by the Bank has a different accounting year to its feeder UCITS, the auditor of the master UCITS shall make an ad hoc report on the closing date of the feeder UCITS.
(3) Where it complies with the requirements laid down in this P
…