Commentaries: Art. 118j

In the case of an L-QIF in the legal form of a contractual fund, the fund management company shall draw up the fund contract and obtain the consent of the custodian bank.
If the fund management company intends to amend the fund contract, it shall obtain the consent of the custodian bank in advance and publish the following in the L-QIF's media of publication:
1. a summary of the significant amendments;
2. a reference to the locations where the full wording of the contractual amendments may be obtained free of charge; and
3. an indication of when the amendments will come into force.
Publication in accordance with paragraph 2 may be dispensed with if all investors are informed in writing or in another form verifiable by text of the wording of the amendments and the date on which the amendment enters into force.
The amendments to the fund contract shall come into force at the earliest:
1. in the case of a contractual investment fund with a redemption option at any time: 30 days after publication pursuant to paragraph 2 or provision of information pursuant to paragraph 3;
2. in the case of a contractual fund without the possibility of redemption at any time: on the day after the day on which the units may be surrendered in compliance with the contractual or regulatory redemption periods and deadlines if the fund contract were terminated on the 30th day after publication pursuant to paragraph 2 or the provision of information pursuant to paragraph 3.
If the contractual or regulatory notice period lasts longer than 30 days, the changes may come into force earlier than in accordance with paragraph 4 if all investors agree in writing or in another form verifiable by text, but no earlier than 30 days after publication in accordance with paragraph 2 or the provision of information in accordance with paragraph 3.