Recital 1

(1)Article 16(1) of Regulation (EU) No 345/2013 requires the competent authority of the home Member State of a European venture capital fund (EuVECA) to notify the competent authorities of the host Member States and the European Securities and Markets Authority (ESMA) of events related to the passport of the managers of qualifying venture capital funds. Article 21(3) of Regulation (EU) No 345/2013 also requires the competent authority of the home Member State to inform the competent authorities of the host Member States of the removal of a manager of a EuVECA from the register.