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Annex IV REFERRED TO IN ARTICLE 6 (2) OF THE DIRECTIVE

United Kingdom

Original text. Later amendments are not shown.

  1. I..

    The Portuguese Republic may continue to apply or reintroduce, until 31 December 1990 restrictions existing on the date of notification of the Directive on capital movements given in List I below:

    LIST I

    Council Directive 85/611/EEC on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) (OJ No L 375, 31. 12. 1985, p. 3).
    Nature of operationHeading
    Operations in units of collective investment undertakings

    —

    acquisition by residents of units of foreign collective investment undertakings dealt in on a stock exchange

    		IV-A-2 (a)

    —

    undertakings subject to Directive 85/611/EECf1 and taking the form of common funds

    —

    Acquisition by residents of units of foreign collective investment undertakings not dealt in on a stock exchange

    		IV-A-4 (a)

    —

    undertakings subject to Directive 85/611/EEC

  2. II..

    The Kingdom of Spain and the Portuguese Republic may continue to apply or reintroduce, until 31 December 1990 and 31 December 1992 respectively, restrictions existing on the date of notification of the Directive on capital movements given in List II below:

    LIST II

    See footnote to List I.
    Nature of operationHeading
    Operations in securities normally dealt in on the capital market

    —

    Acquisition by residents of foreign securities dealt in on a stock exchange

    		III-A-2 (b)

    —

    bonds issued on a foreign market and denominated in national currency

    —

    Acquisition by residents (non-residents) of foreign (domestic) securities not dealt in on a stock exchange

    		III-A-3 and 4

    —

    Admission of securities to the capital market

    		III-B-1 and 2

    —

    where they are dealt in on or in the process of introduction to a stock exchange in a Member State

    Operations in units of collective investment undertakings

    —

    Acquisition by residents of units of foreign collective investment undertakings dealt in on a stock exchange

    		IV-A-2

    —

    undertakings not subject to Directive 85/611/EECf2 and taking the form of common funds

    —

    Acquisition by residents (non-residents) of units of foreign (domestic) collective investment undertakings not dealt in on a stock exchange

    		IV-A-3 and 4

    —

    undertakings not subject to Directive 85/611/EEC and the sole object of which is the acquisition of assets that have been liberalized

    —

    Admission to the capital market of units of collective investment of undertakings

    		IV-B-1 and 2 (a)

    —

    undertakings subject to Directive 85/611/EEC

    —

    Credits related to commercial transactions or to the provision of services in which a resident is participating

    		VII-A and B-3

    —

    Long-term credits
  3. III..

    The Hellenic Republic, the Kingdom of Spain, Ireland and the Portuguese Republic may, until 31 December 1992, continue to apply or reintroduce restrictions existing at the date of notification of the Directive on capital movements given in List III below:

    LIST III

    See footnote to List I.
    Nature of operationHeading
    Operations in securities dealt in on the capital market

    —

    Admission of securities to the capital market

    		III-B-1 and 2

    —

    where they are not dealt in on or in the process of introduction to a stock exchange in a Member State

    Operations in units of collective investment undertakings

    —

    Admission to the capital market of units of collective investment undertakings

    		IV-B-1 and 2

    —

    undertakings not subject to Directive 85/611/EECf3 and the sole object of which is the acquisition of assets that have been liberalized

    Financial loans and creditsVIII-A, B-2 and 3

    —

    medium-term and long-term
  4. IV..

    The Hellenic Republic, the Kingdom of Spain, Ireland and the Portuguese Republic may, until 31 December 1992, defer liberalization of the capital movements given in List IV below:

    LIST IV
    Nature of operationHeading
    Operations in securities and other instruments normally dealt in on the money marketV
    Operations in current and deposit accounts with financial institutionsVI
    Operations in units of collective investment undertakingsIV-A and B (c)

    —

    undertakings for investment in securities or instruments normally dealt in on the money market

    Financial loans and creditsVIII-A and B-1

    —

    short term

    Personal capital movementsXI-A

    —

    loans

    Physical import and export of financial assetsXII

    —

    securities normally dealt in on the money market

    —

    means of payment

    Other capital movements: MiscellaneousXIII-F

Annotations

Footnotes

f1

Council Directive 85/611/EEC on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) (OJ No L 375, 31. 12. 1985, p. 3).

f2

See footnote to List I.

f3

See footnote to List I.