+Article 48 3.

Article 48 3.

A merger effected in accordance with point (p)(iii) of Article 2(1) shall have the following consequences:

(a) 

the net assets of the merging UCITS are transferred to the receiving UCITS or, where applicable, the depositary of the receiving UCITS;

(b) 

the unit-holders of the merging UCITS become unit-holders of the receiving UCITS; and

(c) 

the merging UCITS continues to exist until the liabilities have been discharged.

1. Overview

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1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

Requirements

3. Related Standards

Standards