Article 21
Disposal of ELTIF assets
1.
An ELTIF shall inform the competent authority of the ELTIF of the orderly disposal of its assets in order to redeem investors’ units or shares after the end of the life of the ELTIF, at the latest one year before the date of the end of the life of the ELTIF. Upon the request of the competent authority of the ELTIF, the ELTIF shall submit to the competent authority of the ELTIF an itemised schedule for the orderly disposal of its assets.
2.
The schedule referred to in paragraph 1 shall include:
(a)
an assessment of the market for potential buyers;
(b)
an assessment and comparison of potential sales prices;
(c)
a valuation of the assets to be divested;
(d)
a time-frame for the disposal schedule.
3.
ESMA shall develop draft regulatory technical standards specifying the criteria to be used for the assessments in point (a) and the valuation in point (c) of paragraph 2.
ESMA shall submit those draft regulatory technical standards to the Commission by 9 September 2015.
Power is delegated to the Commission to adopt the regulatory technical standards referred to in the first subparagraph in accordance with Articles 10 to 14 of Regulation (EU) No 1095/2010.