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Preamble
Recitals 31
Chapter I - SUBJECT-MATTER, SCOPE AND DEFINITIONS (Article 1-3) 3
Chapter II - ADMINISTRATIVE PROCEDURES AND CONTROL MECHANISM (Article 12(1)(a) and Article 14(1)(c) of Directive 2009/65/EC) (Article 4-16) 14
Chapter III - CONFLICT OF INTERESTS (Article 12(1)(b) and Article 14(1)(d) and (2)(c) of Directive 2009/65/EC) (Article 17-21) 5
Chapter IV - RULES OF CONDUCT (Article 14(1)(a), (b) and (2)(a), (b) of Directive 2009/65/EC) (Article 22-29) 8
Chapter V - PARTICULARS OF THE STANDARD AGREEMENT BETWEEN A DEPOSITARY AND A MANAGEMENT COMPANY (Article 23(5) and Article 33(5) of Directive 2009/65/EC) (Article 30-37) 8
Chapter VI - RISK MANAGEMENT (Article 51(1) of Directive 2009/65/EC) (Article 38-45) 8
Chapter VII - FINAL PROVISIONS (Article 46-48) 3
Amending acts 1
- Commission Delegated Directive (EU) 2021/1270from 01/08/2022

Recital 22

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Recital 22

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(22)The cross-border activities of the management company create new challenges for the relationship between the management company and the UCITS’ depositary. To ensure the necessary legal certainty, the main elements of the agreement between the UCITS’ depositary and the management company, where that management company is established in a Member State other than the UCITS’ home Member State, should be specified in this Directive. Given the need to ensure that this agreement properly serves its purpose it is necessary to provide for conflict of law rules which derogate from Articles 3 and 4 of the Regulation (EC) No 593/2008 of the European Parliament and of the Council of 17 June 2008 on the law applicable to contractual obligations (Rome I) ⁶ in such a way that the applicable law to this agreement should be the law of the UCITS’ home Member State.

6 OJ L 177, 4.7.2008, p. 6 . ↩

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