+Article 15 4a.

Article 15 4a.

An AIFM shall ensure that, where an AIF it manages originates loans, the notional value of the loans originated to any single borrower by that AIF does not exceed in aggregate 20 % of the capital of the AIF where the borrower is one of the following:

(a) 

a financial undertaking as defined in Article 13, point (25), of Directive 2009/138/EC of the European Parliament and of the Council ( 11 );

(b) 

an AIF; or

(c) 

a UCITS.

The restriction set out in the first subparagraph of this paragraph shall be without prejudice to the thresholds, restrictions and conditions set out in Regulations (EU) No 345/2013 ( 12 ), (EU) No 346/2013 ( 13 ) and (EU) 2015/760 ( 14 ) of the European Parliament and of the Council.

1. Forbhreathnú

,

1.1 Tagairtí

1.2 Ceanglais aitheanta

1.3 Caighdeáin ghaolmhara

2. Ceanglais aitheanta

Ceanglais

3. Caighdeáin ghaolmhara

Caighdeáin
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