The Member States shall determine the legal form which an investment company must take. It must have sufficient paid-up capital to enable it to conduct its business effectively and meet its liabilities.
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New version applies from 30/04/2004 — introduced by Markets in Financial Instruments Directive (MIFID).
82 provisions change.
Later versions: 13/04/2005, 20/03/2008.
Article 12 changes in this version: compare with the current text.