+Article 7
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---+Article 7 2.
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---+Article 7 7.

Article 7

1. Forbhreathnú

,
Article 7 1.

Without prejudice to other conditions of general application laid down by national law, the competent authorities shall not grant authorisation to a management company unless the following conditions are met:

(a) 

the management company has an initial capital of at least EUR 125 000 , taking into account the following:

(i) 

when the value of the portfolios of the management company exceeds EUR 250 000 000 , the management company must be required to provide an additional amount of own funds which is equal to 0,02 % of the amount by which the value of the portfolios of the management company exceeds EUR 250 000 000 but the required total of the initial capital and the additional amount must not, however, exceed EUR 10 000 000 ;

(ii) 

for the purposes of this paragraph, the following portfolios must be deemed to be the portfolios of the management company:

— 
common funds managed by the management company including portfolios for which it has delegated the management function but excluding portfolios that it is managing under delegation,
— 
investment companies for which the management company is the designated management company,
— 
other collective investment undertakings managed by the management company including portfolios for which it has delegated the management function but excluding portfolios that it is managing under delegation;

▼M7

(iii) 

gan beann ar mhéid na gceanglas sin, ní bheidh cistí dílse na cuideachta bainistíochta, tráth ar bith, faoi bhun an mhéid a fhorordaítear in Airteagal 13 de Rialachán (AE) 2019/2033 ó Pharlaimint na hEorpa agus ón gComhairle ( 7 );

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(b) 

tá dea-cháil leordhóthanach ar na daoine a dhéanann gnó na cuideachta bainistíochta go héifeachtach agus tá taithí leordhóthanach acu i ndáil leis an gcineál GCUI atá á bhainistiú ag an gcuideachta bainistíochta, déantar ainmneacha na ndaoine sin agus ainm gach duine a thagann i gcomharbas orthu san oifig a chur in iúl láithreach do na húdaráis inniúla agus cinneann beirt daoine nádúrtha ar a laghad a chomhlíonann coinníollacha den sórt sin déanamh ghnó na cuideachta bainistíochta, ar daoine iad atá fostaithe go lánaimseartha ag an gcuideachta bainistíochta sin nó ar comhaltaí feidhmiúcháin nó comhaltaí de chomhlacht bainistíochta na cuideachta bainistíochta iad atá tiomanta go lánaimseartha do ghnó na cuideachta bainistíochta sin a dhéanamh, agus ar daoine iad a bhfuil sainchónaí orthu san Aontas;

(c) 

tá clár gníomhaíochta ag gabháil leis an iarratas ar údarú lena leagtar amach, ar a laghad, struchtúr eagrúcháin na cuideachta bainistíochta, agus lena sonraítear na hacmhainní daonna agus teicniúla a úsáidfear chun gnó na cuideachta bainistíochta a dhéanamh agus faisnéis faoi na daoine a dhéanann gnó na cuideachta bainistíochta sin go héifeachtach, lena n-áirítear an méid seo a leanas:

(i) 

tuairisc ar ról, teideal agus leibhéal sinsearachta na ndaoine sin;

(ii) 

tuairisc ar línte tuairiscithe agus freagrachtaí na ndaoine sin laistigh den chuideachta bainistíochta agus lasmuigh di;

(iii) 

forléargas ar an méid ama a leithdháileann gach duine de na daoine sin ar gach freagracht;

(iv) 

faisnéis faoin gcaoi a bhfuil sé beartaithe ag an gcuideachta bainistíochta a hoibleagáidí faoin Treoir seo, agus a hoibleagáidí faoi Airteagal 3(1), Airteagal 6(1), pointe (a), agus Airteagal 13(1) de Rialachán (AE) 2019/2088 ó Pharlaimint na hEorpa agus ón gComhairle ( 8 ) a chomhlíonadh, agus tuairisc mhionsonraithe ar na hacmhainní daonna agus teicniúla iomchuí atá le húsáid ag an gcuideachta bainistíochta chuige sin.

▼B

(d) 

the head office and the registered office of the management company are located in the same Member State;

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(e) 

soláthraíonn an chuideachta bainistíochta faisnéis faoi shocruithe arna ndéanamh le haghaidh feidhmeanna a tharmligean agus a fhotharmligean chuig tríú páirtithe i gcomhréir le hAirteagal 13, lena gcuimsítear ar a laghad an méid seo a leanas:

(i) 

ainm dlíthiúil agus aitheantóir ábhartha na cuideachta bainistíochta;

(ii) 

i gcás gach toscaire:

— 
a ainm dlíthiúil agus a aitheantóir ábhartha,
— 
a dhlínse bunaíochta, agus
— 
i gcás inarb ábhartha, a údarás maoirseachta;
(iii) 

tuairisc mhionsonraithe ar na hacmhainní daonna agus teicniúla arna n-úsáid ag an gcuideachta bainistíochta chun an méid seo a leanas a dhéanamh:

— 
cúraimí laethúla a bhaineann le bainistiú punainne nó bainistiú riosca a dhéanamh laistigh den chuideachta bainistíochta, agus
— 
faireachán a dhéanamh ar an ngníomhaíocht tharmligthe;
(iv) 

i leith gach ceann de na GCUInna a bhainistíonn sé nó a bhfuil sé beartaithe aige a bhainistiú:

— 
tuairisc ghairid ar an bhfeidhm bainistithe punainne tarmligthe, lena n-áirítear cibé acu an tarmligean páirteach nó tarmligean iomlán atá i gceist le tarmligean den sórt sin, agus
— 
tuairisc ghairid ar an bhfeidhm bainistithe riosca tarmligthe, lena n-áirítear cibé acu an tarmligean páirteach nó tarmligean iomlán atá i gceist le tarmligean den sórt sin;
(v) 

tuairisc ar na bearta tréimhsiúla díchill chuí atá le déanamh ag an gcuideachta bainistíochta chun faireachán a dhéanamh ar an ngníomhaíocht tharmligthe.

▼B

For the purposes of point (a) of the first subparagraph, Member States may authorise management companies not to provide up to 50 % of the additional amount of own funds referred to in point (i) of point (a) if they benefit from a guarantee of the same amount given by a credit institution or an insurance undertaking which has its registered office in a Member State, or in a third country where it is subject to prudential rules considered by the competent authorities as equivalent to those laid down in Community law.
Article 7 2.

Where close links exist between the management company and other natural or legal persons, the competent authorities shall grant authorisation only if those close links do not prevent the effective exercise of their supervisory functions.

The competent authorities shall also refuse authorisation if the laws, regulations or administrative provisions of a third country governing one or more natural or legal persons with which the management company has close links, or difficulties involved in their enforcement, prevent the effective exercise of their supervisory functions.

The competent authorities shall require management companies to provide them with the information they require to monitor compliance with the conditions referred to in this paragraph on a continuous basis.
Article 7 3.
The competent authorities shall inform the applicant within six months of the submission of a complete application whether or not authorisation has been granted. Reasons shall be given where an authorisation is refused.
Article 7 4.
A management company may start business as soon as authorisation has been granted.
Article 7 5.

The competent authorities may withdraw the authorisation issued to a management company subject to this Directive only where that company:

(a) 

does not make use of the authorisation within 12 months, expressly renounces the authorisation or has ceased the activity covered by this Directive more than six months previously, unless the Member State concerned has provided for authorisation to lapse in such cases;

(b) 

has obtained the authorisation by making false statements or by any other irregular means;

(c) 

no longer fulfils the conditions under which authorisation was granted;

(d) 

no longer complies with Directive 2006/49/EC if its authorisation also covers the discretionary portfolio management service referred to in Article 6(3)(a) of this Directive;

(e) 

has seriously or systematically infringed the provisions adopted pursuant to this Directive; or

(f) 

falls within any of the cases where national law provides for withdrawal.
Article 7 6.

In order to ensure consistent harmonisation of this Article, ESMA may develop draft regulatory technical standards to specify:

(a) 

the information to be provided to the competent authorities in the application for the authorisation of the management company, including the programme of activity;

(b) 

the requirements applicable to the management company under paragraph 2 and the information for the notification provided for in paragraph 3;

(c) 

the requirements applicable to shareholders and members with qualifying holdings, as well as obstacles which may prevent effective exercise of the supervisory functions of the competent authority, as provided for in Article 8(1) of this Directive and in Article 10(1) and (2) of Directive 2004/39/EC, in accordance with Article 11 of this Directive.

Power is delegated to the Commission to adopt the regulatory technical standards referred to in the first subparagraph in accordance with Articles 10 to 14 of Regulation (EU) No 1095/2010.

In order to ensure uniform conditions of application of this Article, ESMA may develop draft implementing technical standards to determine standard forms, templates and procedures for the notification or provision of information provided for in points (a) and (b) of the first subparagraph.

Power is conferred on the Commission to adopt the implementing technical standards referred to in the third subparagraph in accordance with Article 15 of Regulation (EU) No 1095/2010.
Article 7 7.
Ceanglóidh na Ballstáit ar chuideachtaí bainistíochta, sula gcuirfear chun feidhme iad, fógra a thabhairt d’údaráis inniúla a mBallstáit baile faoi aon athruithe ábhartha ar na coinníollacha le haghaidh údarú tosaigh, go háirithe athruithe ábhartha ar an bhfaisnéis arna soláthar i gcomhréir leis an Airteagal seo.

1.1 Tagairtí

1.2 Ceanglais aitheanta

1.3 Caighdeáin ghaolmhara

2. Ceanglais aitheanta

Ceanglais

3. Caighdeáin ghaolmhara

Caighdeáin
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