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4.

Four years after the entry into force of this Directive, the Commission shall issue a report reviewing: the application of Article 18 and the progress achieved in the adaptation of national supervisory systems, and the application of the second subparagraph of Article 19(2), in particular the situation prevailing in Member States regarding the use of depositaries and the role played by them where appropriate.

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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.