Article 52

A UCITS shall invest no more than:

▼M13

Ní mó an neamhchosaint riosca ar chontrapháirtí de chuid GCUI in idirbheart díorthach nach ndéantar a imréiteach go lárnach trí CPL atá údaraithe i gcomhréir le hAirteagal 14 de Rialachán (AE) Uimh. 648/2012 nó atá aitheanta i gcomhréir le hAirteagal 25 den Rialachán sin, ná aon cheann de na nithe seo a leanas:

▼B

►M13  Féadfaidh na Ballstáit an teorainn 5 % a leagtar síos i mír 1, an chéad fhomhír a ardú, go huasmhéid 10 %. Má dhéanann siad amhlaidh, áfach, ní mó luach iomlán na n-urrús inaistrithe agus na n-ionstraimí margaidh airgid, atá i seilbh GCUInna sna comhlachtaí eisiúna a n-infheistíonn sé níos mó ná 5 % dá shócmhainní i ngach ceann acu, ná 40 % de luach a shócmhainní. Ní bheidh feidhm ag an teorannú sin maidir le taiscí ná le hidirbhearta díorthacha arna ndéanamh le hinstitiúidí airgeadais atá faoi réir maoirseacht stuamachta. ◄

Notwithstanding the individual limits laid down in paragraph 1, a UCITS shall not combine, where this would lead to investment of more than 20 % of its assets in a single body, any of the following:

▼M13

▼B

Member States may raise the 5 % limit laid down in the first subparagraph of paragraph 1 to a maximum of 35 % if the transferable securities or money market instruments are issued or guaranteed by a Member State, by its local authorities, by a third country or by a public international body to which one or more Member States belong.

Féadfaidh Ballstáit an teorainn 5 % a leagtar síos sa chéad fhomhír de mhír 1 a ardú go dtí uasmhéid 25 % i gcás ina mbeidh na bannaí eisithe roimh an 8 Iúil 2022 agus i gcás ina gcomhlíonann na bannaí sin na ceanglais a leagtar amach sa mhír seo de réir mar is infheidhme ar dháta a n‐eisiúna, nó i gcás ina dtagann na bannaí faoin sainmhíniú ar bhannaí faoi chumhdach i bpointe (1) d’Airteagal 3 de Threoir (AE) 2019/2162 ó Pharlaimint na hEorpa agus ón gComhairle ( 24 ).

▼B

Where a UCITS invests more than 5 % of its assets in the bonds referred to in the first subparagraph which are issued by a single issuer, the total value of these investments shall not exceed 80 % of the value of the assets of the UCITS.

▼M8 —————

▼B

The transferable securities and money market instruments referred to in paragraphs 3 and 4 shall not be taken into account for the purpose of applying the limit of 40 % referred to in paragraph 2.

The limits provided for in paragraphs 1 to 4 shall not be combined, and thus investments in transferable securities or money market instruments issued by the same body or in deposits or derivative instruments made with this body carried out in accordance with paragraphs 1 to 4 shall not exceed in total 35 % of the assets of the UCITS.

Companies which are included in the same group for the purposes of consolidated accounts, as defined in Directive 83/349/EEC or in accordance with recognised international accounting rules, shall be regarded as a single body for the purpose of calculating the limits contained in this Article.

Member States may allow cumulative investment in transferable securities and money market instruments within the same group up to a limit of 20 %.