+Article 83 2.

Article 83 2.

By way of derogation from paragraph 1, a Member State may authorise a UCITS to borrow provided that such borrowing is:

(a) 

on a temporary basis and represents:

— 
in the case of an investment company, no more than 10 % of its assets, or
— 
in the case of a common fund, no more than 10 % of the value of the fund; or
(b) 

to enable the acquisition of immovable property essential for the direct pursuit of its business and represents, in the case of an investment company, no more than 10 % of its assets.

Where a UCITS is authorised to borrow under points (a) and (b), such borrowing shall not exceed 15 % of its assets in total.

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