Consolidated Act On Calculation Of Emission And Redemption Prices By Subscription And Redemption Of Units In Unit Trusts, Specialist Associations, Professional Associations, Approved Fåmandsforeninger And Hedge Funds

Original Language Title: Bekendtgørelse om beregning af emissions- og indløsningspriser ved tegning og indløsning af andele i investeringsforeninger, specialforeninger, professionelle foreninger, godkendte fåmandsforeninger og hedgeforeninger

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Table of Contents

Publication of the calculation of emission and solution prices by drawing and dealing with shares in investment associations, specialised associations, professional associations, approved sheep ' s associations and hedge funds

In accordance with paragraph 48, paragraph 1. 5, section 110 m (1). 1, sections 113, section 114 f and § 132, paragraph 1. 3, in the Law on investment associations and special associations, as well as other collective investment schemes, etc., cf. Law Order no. 929 by 18. September 2008, as amended by law no. 392 of 25. May 2009 :

§ 1. A association ' s statutes shall include provisions on the calculation of the association, department or other category of emission and solution prices shall be calculated either in accordance with section 2, section 3 or section 4. The association must in its prospectus for the association or department and in its sales material for the association, department or the other class indicate the method it uses for calculation of emission and solution prices and any time items from sections § § 3 and 4.

Paragraph 2. If the shares of a association, section or other class are concerned with listing or trade in a regulated market, the double pricing method shall be required, cf. Section 2 is used for the calculation of emission and solution prices.

Paragraph 3. The internal value of a assembly or partition ' s share shall be calculated by dividiating the value of the property at the time of the nominal value of drawing shares.

Paragraph 4. The internal value of an andelle class shall be calculated by dividing the amount of the part of the department ' s assets corresponding to that part of the common portfolio, to which the present shareholding is discarded, corrected for possible ; class-specific assets and costs borne by the other classes, with the nominal value of the shares in the other class.

Double pricing method

§ 2. The emission price shall be set at the time of the internal value at the time of emission of the same principles, which are used in the annual report, with an addition to a sum of expenditure for the purchase of financial instruments and at the cost of the cost of the expenditure incurred ; The mission.

Paragraph 2. The solution price shall be fixed at the time of the internal value at the time of entry into the time of the same principles, which are used in the annual report, with deduction of a sum to cover expenditure on the sale of financial instruments and the cost of the costs incurred ; at the solution.

The Single Price Method

§ 3. The association shall establish one or more times for the account of the value of shares in the association, the department or the other class. For the settlement of applications for the emission and the settlement of units received by the association, the association shall set the emission price and the entry price of the internal value at the time of the earliest uptake in accordance with the same principles as : are used in the annual report.

Variable single pricing method

§ 4. The association shall establish one or more times for the account of the value of shares in the association, the department or the other class. For the settlement of applications for the emission and the settlement of units received by the association, the association shall set the emission price and the entry price of the internal value at the time of the earliest uptake in accordance with the same principles as : are used in the annual report. The Association can charge a fee for the marketing of marketing and financial intermediaries to the emission price.

Paragraph 2. Where there is a request for emissions of more units than the collection of units, the intrinity of the internal value shall be discharged on the basis of the cost of purchase of the aggregate ' s overall inventory of instruments. In the case of requests for the recovery of more units than the emission of shares, the internal value of the single value shall be discharged on the basis of the sale of the assembly or department ' s overall inventory of instruments.

§ 5. If a society attaches a fee to marketing and to financial intermediaries, cf. Section 4 (4). 1, in the calculation of the emission price for shares in the association of a department or in an other class, the association of the association of the association or department and in its sales material for the association, department or the other class shall indicate when it is : attaches a fee to not a fee and the amount of the fee.

Penalty provisions and entry into force etc.

§ 6. The withdrawal of section 1 (2). One and two, section 3, section 4, section 4. ONE, ONE. and 2. PC and Clause 5 shall be punished by fine.

§ 7. The announcement shall enter into force on 1. July, 2009.

Paragraph 2. At the same time, notice No 713 of 21. June 2007 on the calculation of emission and solution prices by drawing and incorporating units in investment associations, special associations, approved sheep's associations and hedge funds.

Financial supervision, the 25th. June 2009Ulrik Nutgaard / Anne Marie Pico