AI Summary of Article 117
This directive outlines the repeal of Directive 85/611/EEC, effective from 1 July 2011. Notably, Member States retain obligations concerning the transposition and application of directives as detailed in Annex III, Part B.
Additionally, any references to the repealed Directive should now be interpreted as references to the current Directive, with guidance provided by the correlation table in Annex IV. Similarly, any mention of the simplified prospectus will be replaced with the key investor information specified in Article 78, ensuring clarity in regulatory compliance.
Article 117
Directive 85/611/EEC, as amended by the Directives listed in Annex III, Part A, is repealed with effect from 1 July 2011, without prejudice to the obligations of the Member States relating to the time limits for transposition into national law and application of the Directives set out in Annex III, Part B.
References to the repealed Directive shall be construed as references to this Directive and shall be read in accordance with the correlation table in Annex IV.
References to the simplified prospectus shall be construed as references to the key investor information referred to in Article 78.