6 Amendments of Astrid LULLING related to 2011/0417(COD)
Amendment 74 #
Proposal for a regulation
Article 2 – paragraph 1 a (new)
Article 2 – paragraph 1 a (new)
1a. European venture capital fund managers that are registered in accordance with this Regulation may also manage UCITS subject to authorisation under Directive 2009/65/EC provided that they are external managers.
Amendment 82 #
Proposal for a regulation
Article 3 – point a
Article 3 – point a
(a) ‘qualifying venture capital fund’ means a collective investment undertaking that invests at least 70 percent of its aggregate capital contributions and uncalled committed capital in assets that are qualifying investments;
Amendment 97 #
Proposal for a regulation
Article 3 – point i
Article 3 – point i
(i) ‘venture capital fund manager’ means a legal person whose regular business is managing at least one qualifying venture capital fund. Where the legal form of the venture capital fund permits internal management and where the governing body of the fund chooses not to appoint an external manager, the venture capital fund itself shall be authorised as venture capital fund manager;
Amendment 100 #
Proposal for a regulation
Article 4 – paragraph 1 a (new)
Article 4 – paragraph 1 a (new)
Managers of collective investment undertakings that manage portfolios of European venture capital funds the total assets under management of which exceed the threshold referred to in Article 2(1) of this Regulation and that are subject to Directive 2011/61/EC may opt into the regime created by this Regulation and be entitled to use the designation "European Venture Capital Funds" in relation to the marketing of those funds across the Union, provided that they comply with Articles 3, 5, 6, 11 and 12 of this Regulation.
Amendment 104 #
Proposal for a regulation
Article 5 – paragraph 1
Article 5 – paragraph 1
1. The venture capital fund manager shall ensure that, when acquiring assets other than qualifying investments, no more than 30 percent of the fund's aggregate capital contributions and uncalled committed capital is used for the acquisition of assets other than qualifying investments; short term holdings in cash and cash equivalents shall not be taken into account for calculating this limit.
Amendment 108 #
Proposal for a regulation
Article 5 – paragraph 2
Article 5 – paragraph 2
2. The venture capital fund manager shall not borrow, issue debt obligations, provide guarantees, at the level of the qualifying venture capital fund, nor employ at the level of the qualifying venture capital fund any method by which the exposure of the fund will be increased, whether through borrowing of cash or securities, the engagement into derivative positions or by any other means.