Article 87 | UCITS Directive | Directive 2009/65/EC

Updated 05/02/2025

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Article 87 - Directive 2009/65/EC (UCITS Directive)

Article 87

A UCITS unit shall not be issued unless the equivalent of the net issue price is paid into the assets of the UCITS within the usual time limits. This shall not preclude the distribution of bonus units.

Recitals

CHAPTER I - SUBJECT MATTER, SCOPE AND DEFINITIONS (Article 1-4)

CHAPTER II - AUTHORISATION OF UCITS (Article 5)

CHAPTER III - OBLIGATIONS REGARDING MANAGEMENT COMPANIES (Article 6-21)

CHAPTER IV - OBLIGATIONS REGARDING THE DEPOSITARY (Article 22-26)

CHAPTER V - OBLIGATIONS REGARDING INVESTMENT COMPANIES (Article 27-36)

CHAPTER VI - MERGERS OF UCITS (Article 37-48)

CHAPTER VII - OBLIGATIONS CONCERNING THE INVESTMENT POLICIES OF UCITS (Article 49-57)

CHAPTER VIII - MASTER-FEEDER STRUCTURES (Article 58-67)

CHAPTER IX - OBLIGATIONS CONCERNING INFORMATION TO BE PROVIDED TO INVESTORS (Article 68-82)

CHAPTER X - GENERAL OBLIGATIONS OF UCITS (Article 83-90)Article 83 Article 84 Article 85 Article 86 Article 87 Article 88 Article 89 Article 90

CHAPTER XI - SPECIAL PROVISIONS APPLICABLE TO UCITS WHICH MARKET THEIR UNITS IN MEMBER STATES OTHER THAN THOSE IN WHICH THEY ARE ESTABLISHED (Article 91-96)

CHAPTER XII - PROVISIONS CONCERNING THE AUTHORITIES RESPONSIBLE FOR AUTHORISATION AND SUPERVISION (Article 97-110)

CHAPTER XIII - EUROPEAN SECURITIES COMMITTEE (Article 111-112)

CHAPTER XIV - DEROGATIONS, TRANSITIONAL AND FINAL PROVISIONS (Article 113-119)

ANNEX I ANNEX II - Functions included in the activity of collective portfolio management: Q&A ANNEX III ANNEX IV - Correlation table

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Article 87 - Directive 2009/65/EC (UCITS Directive)

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