OpenLegislation

Paragraph 5

Original text. Later amendments are not shown.

Competent authorities receiving confidential information under paragraphs 2 or 3 may use it only in the course of their duties:

  • to check that the conditions governing the taking-up of the business of UCITS or of undertakings contributing towards their business activity are met and to facilitate the monitoring of the conduct of that business, administrative and accounting procedures and internal-control mechanisms,

  • to impose sanctions,

  • in administrative appeals against decisions by the competent authorities, or

  • in court proceedings initiated under Article 51(2).