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Book IV - Collective investment products
Title II - AIFS
Chapter III - Funds open to professional investors
Section 2 - Declared funds
Sub-section 1 - Professional specialised funds
Paragraph 4 - Specific provisions applicable to professional specialised funds formed from a demerger in order to house assets whose disposal would not be in the best interests of holders of shares or units in the split UCITS or AIF
Article 423-36 from 21/12/2013

Article 423-36 into force since

  • Version into force since
ELI : /en/eli/fr/aai/amf/rg/article/423-36/20131221/notes

All holders of a UCITS or an AIF split pursuant to the second paragraph of Article L. 214-24-33 or the second paragraph of Article L. 214-214-41 of the Monetary and Financial Code may hold the shares or units in a professional specialised fund governed by this paragraph that are reserved for them at the time of the demerger.

The holders of shares or units in a professional specialised fund governed by this paragraph may sell such shares and units only to the persons referred to in Article 413-27.