+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. Forbhreathnú

,

1.1 Tagairtí

1.2 Ceanglais aitheanta

1.3 Caighdeáin ghaolmhara

2. Ceanglais aitheanta

Ceanglais

3. Caighdeáin ghaolmhara

Caighdeáin