S.L. 370.19 Art. 5Information to be provided to the competent authority.

(1) In seeking the authorisation referred to in regulation 4, the merging UCITS shall provide the following information to the competent authority:

(a) the common draft terms of the proposed merger duly approved by the merging UCITS and the receiving UCITS;

(b) an up-to-date version of the prospectus and the key investor information of the receiving UCITS, if this is established in a Member State or EEA State other than Malta;

(c) a statement by each of the depositaries of the merging and the receiving UCITS confirming that they have verified that -

(i) the identification of the type of merger and UCITS involved;

(ii) the planned effective date of the merger; and

(iii) the rules applicable, respectively, to the transfer of assets and the exchange of units, are in accordance with the requirements of the UCITS Directive and the fund rules or instruments of incorporation of their respective UCITS; and

(d) the information on the proposed merger that the merging UCITS and the receiving UCITS intend to provide to their respective unit-holders.

(2) The information referred to in sub-regulation (1) shall be provided in such a manner as to enable both the competent authority and the European regulatory authority of the Member State or EEA State where the receiving UCITS is authorized in terms of the UCITS Directive to read such information in the official language or in one of the official languages of Malta and of the Member State or EEA State where the receiving UCITS is authorized, or in a language approved by the competent authority and by such European regulatory authority.

(3) On receipt of all the information referred to in sub-regulation (1), the competent authority shall immediately transmit copies of this information to the European regulatory authority of the receiving UCITS. The competent authority and the European regulatory authority shall consider the potential impact of the proposed merger on the unit-holders of the merging UCITS and of the receiving UCITS respectively in order to assess whether appropriate information is being provided to unit-holders.

(4) The competent authority may, if it considers it necessary, require, in writing, that the information to unit-holders of the merging UCITS be clarified.

(5) Where the receiving UCITS is a Maltese UCITS, the competent authority may, if it considers it necessary, require in writing, and no later than fifteen working days after receipt from the European regulatory authority of the merging UCITS of the copies of the complete information referred to in sub-regulation (1), that the receiving UCITS modify the information to be provided to its unit-holders. The competent authority shall also send an indication of its dissatisfaction to the European regulatory authority of the merging UCITS.

(6) The competent authority shall, within twenty working days of being notified of the complete information modified in accordance with sub-regulation (5), inform the European regulatory authority of the merging UCITS as to whether it is satisfied with such modified information.