Recital 1

(1)Article 17(1) of Regulation (EU) No 346/2013 requires the competent authority of the home Member State of a European social entrepreneurship fund (EuSEF) to notify host Member States and the European Securities and Markets Authority (ESMA) of events related to the passport of the managers of qualified social entrepreneurship funds. Article 22(3) of that Regulation also requires the competent authority of the home Member State inform the competent authorities of the host Member States of the removal of a manager of a EuSEF from the register.