Sub-paragraph 3: Obligations of the management company, the entity responsible for centralisation and the statutory auditor

General purpose investment funds and their management companies shall act independently and solely in the interests of their unitholders or shareholders. They must offer sufficient guarantees with regard to their organisation, their technical and financial resources, and the good repute and experience of their managers.

Without prejudice to the provisions of Title III of Book II of the French Commercial Code, the conditions of liquidation and the methods of asset distribution are determined by the fund rules or the articles of association of the general purpose investment fund. The management company shall act as liquidator; failing this, the liquidator shall be appointed by the courts at the request of any interested party. However, notwithstanding the…

Under the conditions defined by the general regulations of the Autorité des marchés financiers, responsibility vis-à-vis third parties for centralising subscription and redemption orders for units or shares of general-purpose investment funds is entrusted by the general-purpose investment fund or, where applicable, by the portfolio management company representing it, either to the investment fund, to the depositary, to a management company or to an investment services provider authorised to provide…

The statutory auditor is required to report as soon as possible to the Autorité des marchés financiers any fact or decision concerning the general-purpose investment fund of which he has become aware in the course of his duties, which is likely to: 1° constitutes a breach of the legal or regulatory provisions applicable to the general-purpose investment fund and is likely to have a material impact on its financial position,…