collective investment undertaking other than the closed-end type

Definitions over time (1)

20/03/2008 – 21/07/2019 Article 2, Directive 2003/71/EC Scope: Whole act

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

‘collective investment undertaking other than the closed-end type’ means unit trusts and investment companies: the object of which is the collective investment of capital provided by the public, and which operate on the principle of risk-spreading; the units of which are, at the holder's request, repurchased or redeemed, directly or indirectly, out of the assets of these undertakings;

No text uses this concept on 12/11/2026.