In addition to its functions provided for in Article 53(1), the Contact Committee may also meet as a Regulatory Committee within the meaning of Article 5 of Decision 1999/468/EC17 to assist the Commission in regard to the technical modifications to be made to this Directive in the following areas:

• clarification of the definitions in order to ensure uniform application of this Directive throughout the Community,

• alignment of terminology and the framing of definitions in accordance with subsequent acts on UCITS and related matters.

Where reference is made to this paragraph, Articles 5 and 7 of Decision 1999/468/EC shall apply, having regard to the provisions of Article 8 thereof.

The period provided for in Article 5(6) of Decision 1999/468/EC shall be set at three months.

The Committee shall adopt its rules of procedure.