Article 12
Routine exchange of information
1.
The competent authorities of the UCITS home Member State shall immediately inform the competent authorities of the UCITS host Member States and, where the UCITS is managed by a management company situated in a Member State other than the UCITS home Member State, the competent authorities of the management company’s home Member State of:
(a)
any decision to withdraw the authorisation for a UCITS;
(b)
any decision imposed upon a UCITS regarding the suspension of the issue, re-purchase or redemption of its units;
(c)
any other serious measure taken against a UCITS.
2.
Where a UCITS is managed by a management company situated in a Member State other than the UCITS home Member State, the competent authorities of the management company’s home Member State shall immediately notify the competent authorities of the UCITS home Member State that the ability of a management company to properly perform its duties with respect to the UCITS it manages may be materially adversely affected or that the management company does not fulfil the requirements set out in Chapter III of Directive 2009/65/EC.
3.
Where a UCITS is managed by a management company situated in a Member State other than the UCITS home Member State, the competent authorities of the UCITS home Member State and the management company’s home Member State shall facilitate the exchange of information required for the purposes of carrying out their duties under Directive 2009/65/EC, including the establishment of appropriate information flows. This shall include the exchange of information necessitated by:
(a)
the procedures for the authorisation of a management company to pursue activities within the territory of another Member State pursuant to Articles 17 and 18 of Directive 2009/65/EC;
(b)
the procedures for the authorisation of a management company to manage a UCITS authorised in a Member State other than the management company’s home Member State, pursuant to Article 20 of Directive 2009/65/EC;
(c)
the on-going supervision of management companies and UCITS.