Paragraph 1: General-purpose investment funds

Where one or more sub-funds are formed within a general-purpose investment fund, they are individually subject to the provisions of this Code governing that fund.

In accordance with the conditions laid down in the general regulations of the Autorité des marchés financiers, the fund rules or articles of association of a general-purpose investment fund may reserve the subscription or purchase of its units or shares to no more than twenty investors or to a category of investors whose characteristics are precisely defined in the prospectus. The custodian or the person designated for this purpose by…

Notwithstanding article L. 214-24-8, the custodian of a general-purpose investment fund shall only hold the assets mentioned in 1° to 6° of I of article L. 214-24-55. In the case of other assets, it shall retain proof of their existence, provided under conditions laid down by decree.