Article 38 Amendment to Directive 2009/65/EC

Article 38

Article 50a of Directive 2009/65/EC is replaced by the following:

‘Article 50a

Where UCITS management companies or internally managed UCITS are exposed to a securitisation that no longer meets the requirements provided for in the Regulation (EU) 2017/2402 of the European Parliament and of the Council ( *1 ), they shall, in the best interest of the investors in the relevant UCITS, act and take corrective action, if appropriate.