(1) Unless otherwise provided for in the trust deed of a unit trust or the deed of constitution of a common contractual fund or in an investment company's articles, the value of the assets of a UCITS shall be based, in the case of securities traded on a stock exchange or on a regulated market, on the last known stock exchange or market quotation unless such quotation is not representative. For securities not so quoted, and for securities which are so quoted but for which the latest quotation is not representative, the value shall be based on the probable realisation value which value shall be estimated with care and in good faith.
(2) The assets of a UCITS may only be purchased and sold at prices which are in conformity with the criteria set out in paragraph (1).
(3) The trust deed, the deed of constitution or the articles shall determine the frequency of the calculation of the issue and repurchase price.