shareholder loan

Defined in Article 4, Alternative Investment Fund Managers Directive (AIFMD)

Definitions over time (1)

1. 16/04/2026 – today applies on 13/11/2026 Article 4, Alternative Investment Fund Managers Directive (AIFMD) Scope: Whole act

   For the purpose of this Directive, the following definitions shall apply:

   ‘shareholder loan’ means a loan which is granted by an AIF to an undertaking in which it holds directly or indirectly at least 5 % of the capital or voting rights, and which cannot be sold to third parties independently of the capital instruments held by the AIF in the same undertaking;

Used in (3 places in 2 provisions on 13/11/2026)

Alternative Investment Fund Managers Directive (AIFMD) (3 in 2)

Article 4 · Article 15²