Paragraph 1: AIF marketing and pre-marketing procedures.

Pursuant to I of Article L. 214-24-1, the marketing in France of units or shares of an AIF established in a third country managed by a management company established in a Member State of the European Union or an asset management company, as well as the marketing in France of units or shares of an AIF established in a Member State of the European Union or in a third country…

Pursuant to I of Article L. 214-24-1, the marketing with passport, in France, by an authorised manager established in a third country for which France is the reference Member State, of units or shares of AIFs established in a third country, is subject to : 1° Compliance by the manager with the legislative and regulatory provisions applicable to portfolio management companies; 2° The existence of appropriate cooperation arrangements, designed to…

Pursuant to the second paragraph of II of Article L. 214-24-1, the marketing in France, with passport, to professional clients, of units or shares of third-country AIFs or feeder AIFs which do not meet the requirements mentioned in the first paragraph of II of Article L. 214-24-1 by an asset management company is subject to : 1° Compliance by the portfolio management company with the legislative and regulatory provisions applicable…

Pursuant to the second paragraph of II of Article L. 214-24-2, the marketing, with a passport, in a Member State of the European Union other than France, to professional clients, of units or shares of third-country AIFs or feeder AIFs which do not meet the conditions laid down in the first paragraph of II of Article L. 214-24-2 is subject to : 1° The existence of appropriate cooperation arrangements between…

Pursuant to the first paragraph of I of Article L. 214-24-2, the marketing with a passport in a Member State of the European Union other than France of units or shares of AIFs established in a third country by an authorised AIFM established in a third country for which France is the reference Member State is subject to : 1° Compliance by the AIFM with the legislative and regulatory provisions…

The AMF shall ensure that the notification file provided for in Article L. 214-24-2 is complete. It shall send the file to the competent authorities of the host Member State in which the units or shares of the AIF are to be marketed, no later than twenty working days after the date of receipt of the notification letter and all the documents making up the file.

I.-Pursuant toArticle L. 214-24-2-1, a portfolio management company may undertake pre-marketing activities in France or in another Member State of the European Union except where the information presented to potential professional clients is : a) Sufficient to enable investors to commit to subscribing to or acquiring units or shares of a given AIF; b) Equivalent to subscription forms or similar documents, whether in draft or definitive form; c) Equivalent to…

For the purposes of this section, with the exception of articles R. 214-32-20 and R. 214-32-35, references to Member States, Member States of the European Union and the European Union shall be understood to include the other States party to the Agreement on the European Economic Area.