S.L. 370.19 Art. 7Request for additional information by the competent authority.

(1) If the competent authority considers that the information requested in regulation 5 is not complete or is not submitted in full, it shall request additional information within ten working days of receiving the said information.

(2) The competent authority shall inform the merging UCITS within twenty working days of submission of the complete information requested in regulation 5, whether or not the merger has been authorized.

(3) The competent authority shall also inform the European regulatory authority of the receiving UCITS of its decision to authorize the merger or otherwise.

(4) Where the receiving UCITS is a Maltese UCITS, the competent authority may allow the receiving UCITS to derogate from the applicable investment policies, objectives and restrictions as laid down in the Investment Services Rules transposing the requirements of Articles 52 to 55 of the UCITS Directive for a period of six months following the authorization of the merger.