1. The rules or instruments of incorporation of an ELTIF shall not prevent units or shares of the ELTIF from being admitted to trading on a regulated market or on a multilateral trading facility.

2. The rules or instruments of incorporation of an ELTIF shall not prevent investors from freely transferring their units or shares to third parties other than the manager of the ELTIF, subject to the applicable regulatory requirements and the conditions set out in the prospectus of the ELTIF.

2a. The rules or instruments of incorporation of an ELTIF may provide for the possibility, during the life of the ELTIF, of full or partial matching of transfer requests of units or shares of the ELTIF by exiting investors with transfer requests by potential investors, provided that all of the following conditions are fulfilled:

(a) the manager of the ELTIF has a policy for matching requests which clearly sets out all of the following:

(i) the transfer process for both exiting and potential investors;

(ii) the role of the manager of the ELTIF or the fund administrator in conducting transfers and in matching requests;

(iii) the periods of time during which exiting and potential investors are able to request the transfer of units or shares of the ELTIF;

(iv) the rules determining the execution price;