CHAPTER IIIOBLIGATIONS REGARDING MANAGEMENT COMPANIES

SECTION 3Operating conditions

Article 11

1

Qualifying holdings in management companies shall be subject to the same rules as those laid down in Articles 10, 10a and 10b of Directive 2004/39/EC.

2

For the purposes of this Directive, the terms ‘investment firm’ and ‘investment firms’ referred to in Article 10 of Directive 2004/39/EC, mean, respectively, ‘management company’ and ‘management companies’.