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Book IV - Collective investment products
Title II - AIFS
Chapter II - Funds open to retail investors
Section 1 - Retail investment funds
Sub-section 3 - Operating rules
Paragraph 2 - Accounting and financial provisions
Sub-paragraph 3 - Advances, contributions and redemptions in kind
Article 422-39 from 22/04/2018

Article 422-39 into force since

  • Version into force since
ELI : /en/eli/fr/aai/amf/rg/article/422-39/20180422/notes

The board of directors or the executive board of the SICAV or the management company of the FCP may decide to distribute one or more advances on the basis of the statements certified by the statutory auditor.

The statutory auditor assesses both the valuation of contributions in kind and their remuneration. The auditor shall also assess the valuation of redemptions in kind. The auditor's report shall be filed within fifteen days after the contribution or redemption.

If the contributions or redemptions in kind involve one or more sub-funds in a retail investment fund, the statutory auditor shall produce a report for each sub-fund concerned.

Where the retail investment fund is governed by Article 421-27-2, contributions or redemptions in kind on the primary market shall not be subject to the provisions provided for in the second and third paragraphs of this article.