Date-stamp loading
Version status: Repealed | Document consolidation status: Updated to reflect all known changes
Version date: 1 July 2011 - onwards
  Version 4 of 4    

Article 23

Repealed from 1 July 2011

1. By way of derogation from Article 22 and without prejudice to Article 68(3) of the Treaty, the Member States may authorize UCITS to invest in accordance with the principle of risk-spreading up to 100 % of their assets in different transferable securities and money market instruments issued or guaranteed by any Member State, its local authorities, a non-member State or public international bodies of which one or more Member States are members.

The competent authorities shall grant such a derogation only if they consider that unit-holders in the UCITS have protection equivalent to that of unit-holders in UCITS complying with the limits laid down in Article 22.

Such a UCITS must hold securities from at least six different issues, but securities from any one issue may not account for more than 30% of its total assets.

2. The UCITS referred to in paragraph 1 must make express mention in the fund rules or in the investment company's instruments of incorporation of the States, local a

Comparing proposed amendment...