Article 38
Conditions applying to the provision of a key investor information document or a prospectus in a durable medium other than paper or by means of a website
1. Where, for the purposes of Directive 2009/65/EC, the key investor information document or prospectus is to be provided to investors using a durable medium other than paper the following conditions shall be met:
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(a) |
the provision of the key investor information document or the prospectus using such a durable medium is appropriate to the context in which the business between the management company and the investor is, or is to be, carried on; and |
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(b) |
the person to whom the key investor information document or the prospectus is to be provided, when offered the choice between information on paper or in that other durable medium, specifically chooses that other medium. |
2. Where the key investor information document or the prospectus is to be provided by means of a website and that information is not addressed personally to the investor, the following conditions shall also be satisfied:
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(a) |
the provision of that information in that medium is appropriate to the context in which the business between the management company and the investor is, or is to be, carried on; |
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(b) |
the investor must specifically consent to the provision of that information in that form; |
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(c) |
the investor must be notified electronically of the address of the website, and the place on the website where the information may be accessed; |
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(d) |
the information must be up to date; |
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(e) |
the information must be accessible continuously by means of that website for such period of time as the client may reasonably need to inspect it. |
3. For the purposes of this Article, the provision of information by means of electronic communications shall be treated as appropriate to the context in which the business between the management company and the investor is, or is to be, carried on if there is evidence that the investor has regular access to the Internet. The provision by the investor of an e-mail address for the purposes of the carrying on of that business shall be treated as such evidence.