Article 411-65 into force since 21 October 2011

I. - The key tasks of centralising subscription and redemption orders for CIS units or shares, under the provisions of Article L. 214-13 of the Monetary and Financial Code, are as follows:

1. Providing centralised reception and registration of subscription and redemption orders;

2. Supervising compliance with the cutoff for centralising subscription and redemption orders referred to in the prospectus;

3. Reporting the outcome of centralised reception of subscription and redemption orders for the CIS as an amount and, where applicable, as the aggregate number of units or shares subscribed or redeemed;

4. Valuing the orders after receiving information about the net asset value per unit or share from the CIS; To enable the order centraliser to perform its tasks promptly, the CIS shall send it the information about the net asset value per unit or share as soon as it is available;

5. Reporting the information that the institution managing the unit or share registry needs to create or cancel units or shares;

6. Reporting information about the outcome of the order processing to the entity that sent the order to the order centraliser of the CIS.

II. - The order registration contains the following information:

1. The CIS concerned;

2. The person who gave or sent the order;

3. The person who received the order;

4. The time and date of the order;

5. Payment terms and media;

6. The type of order;

7. The order execution date;

8. The number of units or shares subscribed or redeemed;

9. The subscription or redemption price per unit or share;

10. The total value of the units or shares subscribed or redeemed;

11. The gross value of the order, including subscription charges or the net amount of the order after deducting the redemption charges.