Home / CY AIF Law of 2018 / PART ΙΙ: PROVISIONS REGARDING THE ALTERNATIVE INVESTMENT FUNDS / Chapter 8: Special provisions / Part 1 - Common fund / [49] Transfer of common fund units.

49. Transfer of common fund units.

(1) The units of the common fund shall be freely transferable, without prejudice to the fund rules which may specify any restrictions in the transfer of units.

(2) The transfer of units of a common fund shall be disclosed to its external manager, who shall approve the transfer, and which shall apply from the date of the above mentioned approval, unless the transfer is conducted through the stock market, in case of units that have been listed for trading, where the transfer is subject to the respective general and specific provisions regarding the relevant transaction.

(3) The external manager of the common fund shall update the Unitholders’ Register about the transfer by removing the transferred units from the transferee account and recording them in the acquirer’s account.

(4) The external manager of the common fund shall issue, at the acquirer’s request, a confirmation of the contribution on its name, in accordance with article 45.