AI Summary of Article 92
The regulation mandates that Member States ensure UCITS (Undertakings for Collective Investment in Transferable Securities) provide essential facilities in each jurisdiction where they market their units. These facilities must facilitate the processing of subscription, repurchase, and redemption orders, alongside providing necessary information to investors on order placements and payment processes.
Moreover, while physical presence in the host Member State is not a requirement, the services must be available in an official language of that state. The UCITS can perform these tasks directly or appoint a regulated third party, with a formal written contract outlining responsibilities and ensuring access to relevant information.
Article 92
1. Member States shall ensure that a UCITS makes available, in each Member State where it intends to market its units, facilities to perform the following tasks:
(a) process subscription, repurchase and redemption orders and make other payments to unit-holders relating to the units of the UCITS, in accordance with the conditions set out in the documents required pursuant to Chapter IX;
(b) provide investors with information on how orders referred to in point (a) can be made and how repurchase and redemption proceeds are paid;
(c) facilitate the handling of information and access to procedures and arrangements referred to in Article 15 relating to the investors' exercise of their rights arising from their investment in the UCITS in the Member State where the UCITS is marketed;
(d) make the information and documents required pursuant to Chapter IX available to investors under the conditions laid down in Article 94, for the purposes of inspection and obtaining copies thereof;