+Article 15 4i.

Article 15 4i.

An AIFM shall ensure that the AIF it manages retains 5 % of the notional value of each loan that the AIF has originated and subsequently transferred to third parties. That percentage of each loan shall be retained:

(a) 

until maturity, for loans whose maturity is a period of up to eight years, or for loans granted to consumers regardless of their maturity; and

(b) 

for a period of at least eight years for other loans.

By way of derogation from the first subparagraph, the requirement set out therein shall not apply where:

(a) 

the AIFM starts to sell assets of the AIF in order to redeem units or shares as part of the liquidation of the AIF;

(b) 

the disposal is necessary for the purposes of compliance with restrictive measures adopted under Article 215 TFEU, or with product requirements;

(c) 

the sale of the loan is necessary to enable the AIFM to implement the investment strategy of the AIF it manages in the best interests of the AIF’s investors; or

(d) 

the sale of the loan is due to a deterioration in the risk associated with the loan, detected by the AIFM as part of its due diligence and risk management process referred to in Article 15(3), and the purchaser is informed of that deterioration when buying the loan.

Upon the request of the competent authorities of its home Member State, the AIFM shall demonstrate that it meets the conditions for the application of the relevant derogation set out in the second subparagraph.

1. Visão geral

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1.1 Referências

1.2 Requisitos identificados

1.3 Normas relacionadas

2. Requisitos identificados

Requisitos

3. Normas relacionadas

Normas