S.L. 370.19 Art. 6Authorisation by the competent authority.

Where a Maltese UCITS is the merging UCITS, the competent authority shall authorize the proposed merger in accordance with regulation 4 if the following conditions are met:

(a) the proposed merger complies with all the requirements of regulations 4 to 10;

(b) the receiving UCITS has been notified to market its units in Malta and in all other Member States or EEA States where the merging UCITS is authorized or has been notified to market its units in accordance with Article 93 of the UCITS Directive; and

(c) the competent authority and the European regulatory authority of the receiving UCITS are satisfied with the proposed information to be provided to unit-holders, or no indication of dissatisfaction has been received from the European regulatory authority of the receiving UCITS.