under penalty of cancellation

02:33 Aug 24, 2019
This question was closed without grading. Reason: Answer found elsewhere

English to German translations [PRO]
Bus/Financial - Investment / Securities / Fondsprospekt
English term or phrase: under penalty of cancellation
DURATION OF THE FUND, WINDING UP, LIQUIDATION AND MERGING OF SUB-FUNDS

The Fund is established without limits of duration and amount.

Liquidation and allotment of the Fund may not be requested by a unit holder or by his/her heirs or nominees.

The Management Company, with the prior agreement of the Depositary Bank, may decide to wind up the Fund in compliance with the law.

The Fund must be wound up in the cases established by law and if the assets of the Fund have been less than euro 1,250,000 for more than six (6) months.

In case of winding up, the decision must be published in the Official Gazette of Luxembourg - Recueil des Sociétés et Associations and in at least two (2) newspapers having suitable circulation, of which at least one (1) is a Luxembourg newspaper.

The Management Company, as liquidator, liquidates the assets of the Fund, protecting the interests of the unit holders in the best possible way and instructs the Depositary Bank to allot the sums arising from liquidation, after deducting liquidation costs, amongst the unit holders. This allotment is made for each Sub-Fund, proportionally to the participation of the unit holders in each Sub-Fund. Amounts owing to units not claimed by holders at the end of the liquidation process are deposited at the “Caisse de Consignation” in Luxembourg. Except in the case of claims submitted prior to the expiry of the period of prescription (thirty (30) years), the amounts deposited as above can no longer be withdrawn.

Starting from the time of occurrence of the event resulting in the liquidation of the Fund, the issue of units is forbidden ***under penalty of cancellation***.


Danke im Voraus!
Olaf Reibedanz
Colombia
Local time: 17:56



Discussion entries: 2





  

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