S.L. 370.44 Art. 10Treatment of existing UCITS and AIFs.

(1) By 21 January 2019, an existing UCITS or AIF

that invests in short-term assets and has as distinct or cumulative objectives offering returns in line with money market rates or preserving the value of the investment shall submit an application to the competent authority together with all documents and evidence necessary to demonstrate the compliance with the MMF Regulation.

(2) No later than 2 months after receiving the complete application, the competent authority shall assess whether the UCITS or AIF is compliant with the MMF Regulation in accordance with Articles 4 and 5. The competent authority of the MMF shall issue a decision and notify it immediately to the UCITS or AIF.