Directive 2003/41/EC is amended as follows:

1. (1)

   in Article 2(2), point (b) is replaced by the following:

   1. (b)

      institutions which are covered by Directives 73/239/EEC31, 85/611/EEC32, 93/22/EEC33, 2000/12/EC34, 2002/83/EC35 and 2011/61/EU36;

2. (2)

   Article 19(1) is replaced by the following:

   1.

   Member States shall not restrict institutions from appointing, for the management of the investment portfolio, investment managers established in another Member State and duly authorised for this activity, in accordance with Directives 85/611/EEC, 93/22/EEC, 2000/12/EC, 2002/83/EC and 2011/61/EU, as well as those referred to in Article 2(1) of this Directive.