1.

The investments of a unit trust or of an investment company must consist solely of: (a)transferable securities admitted to official listing on a stock exchange in a Member State and/or; (b)transferable securities dealt in on another regulated market in a Member State which operates regularly and is recognized and open to the public and/or; (c)transferable securities admitted to official listing on a stock exchange in a non-member State or dealt in on another regulated market in a non-member State which operates regularly and is recognized and open to the public provided that the choice of stock exchange or market has been approved by the competent authorities or is provided for in law or the fund rules or the investment company's instruments of incorporation and/or; (d)recently issued transferable securities, provided that: -the terms of issue include an undertaking that application will be made for admission to official listing on a stock exchange or to another regulated market which operates regularly and is recognized and open to the public, provided that the choice of stock exchange or market has been approved by the competent authorities or is provided for in law or the fund rules or the investment company's instruments of incorporation; -such admission is secured within a year of issue.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-27 · Text as adopted (Official Journal); later amendments are not incorporated in this text.