(3)National laws governing collective investment undertakings should be coordinated with a view to approximating the conditions of competition between those undertakings at Community level, while at the same time ensuring more effective and more uniform protection for unit-holders. Such coordination facilitates the removal of the restrictions on the free movement of units of UCITS in the Community.
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New version applies from 21/07/2011 — introduced by Alternative Investment Fund Managers Directive (AIFMD).
98 provisions change.
Later versions: 20/06/2013, 17/09/2014, 01/01/2019, 07/01/2020, 26/06/2021, 02/08/2021, 01/01/2023, 09/01/2024, 17/01/2025, 16/04/2026.
Recital 3 changes in this version: compare with the current text.