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Article 11 - Withdrawal of the authorisation

Comparing 21/07/2011 → 20/06/2013: 0 added, 0 removed, 6 changed Close comparison

The competent authorities of the home Member State of the AIFM may withdraw the authorisation issued to an AIFM where that AIFM:

(a)((a)) does not make use of the authorisation within 12 months, expressly renounces the authorisation or has ceased the activity covered by this Directive for the preceding 6 months, unless the Member State concerned has provided for authorisation to lapse in such cases;

(b)((b)) obtained the authorisation by making false statements or by any other irregular means;

(c)((c)) no longer meets the conditions under which authorisation was granted;

(d)((d)) no longer complies with Directive 2006/49/EC if its authorisation also covers the discretionary portfolio management service referred to in point (a) of Article 6(4) of this Directive;

(e)((e)) has seriously or systematically infringed the provisions adopted pursuant to this Directive; or

(f)((f)) falls within any of the cases where national law, in respect of matters outside the scope of this Directive, provides for withdrawal.

Official text · consolidated version 20/06/2013 (no longer in force) Open full page ↗
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