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Recital 1

Recital 1

(1)Council Directive 85/611/EEC of 20 December 1985 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) 2 has been substantially amended several times 3 . Since further amendments are to be made, it should be recast in the interests of clarity.

  1. 2 OJ L 375, 31.12.1985, p. 3 . ↩
  2. 3 See Annex III, Part A. ↩
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