Definitions
Article 2
For the purposes of this Regulation, the following definitions apply: (1) ‘investment fund’ (IF) means a collective investment undertaking that: (a) invests in financial and/or non-financial assets, described in Annex II, to the extent that its objective is investing capital raised from retail and professional investors; and (b) is constituted pursuant to Union or national law under: (i) contract law, as a common fund managed by management companies; (ii) trust law, as a unit trust; (iii) company law, as an investment company; (iv) any other similar mechanism or legal form. The following are considered IFs for the purposes of this Regulation: — collective investment undertakings whose units or shares are, at the request of the holders, repurchased or redeemed directly or indirectly out of the undertaking’s assets; and — collective investment undertakings which have a fixed number of issued shares and whose shareholders have to buy or sell existing shares when entering or leaving the fund. The following are not considered IFs for the purposes of this Regulation: — pension funds as defined in the Article 1 of Regulation (EU) 2018/231 of the European Central Bank (ECB/2018/2) ( 10 ) ; — money market funds (MMFs) as defined in Article 2 of Regulation (EU) 2021/379 of the European Central Bank (ECB/2021/2) ( 11 ) ; (2) ‘resident’ means established within the territory of a Member State. A legal entity is established within the territory of a Member State in which it is authorised or registered or has its registered office. If the entity is not incorporated, it is established where it is domiciled, having regard to the Member State whose legal system governs the creation and continued existence of the entity; (3) ‘relevant NCB’ means the NCB of the euro area Member State in which the IF is resident; (4) ‘security-by-security information’ means information broken down into individual securities; (5) ‘IF shares/units’ means shares or units, including in the form of equity capital, issued by IFs that are included in the list of IFs for statistical purposes and includes IF registered shares/units and IF bearer shares/units; (6) ‘IF registered shares/units’ means IF shares/units in respect of which, in accordance with national legislation, a record is kept identifying the holders of its shares/units including information on the residency and institutional sector of the holder; (7) ‘IF bearer shares/units’ means either of the following: (a) IF shares/units in respect of which, in accordance with national legislation, a record is not kept identifying the holders of its shares/units; (b) IF shares/units in respect of which, in accordance with national legislation, a record is kept identifying the holders of its shares/units, but which does not contain information on the residency and institutional sector of the holder; (8) ‘monetary financial institution’ (MFI) means ‘monetary financial institution (MFI)’ as defined in Article 2(1) of Regulation (EU) 2021/379 (ECB/2021/2); (9) ‘other financial intermediaries except insurance corporations and pension funds’ (OFIs) means ‘other financial intermediaries except insurance corporations and pension funds’ as defined in paragraphs 2.86 to 2.94 of Annex A to Regulation (EU) No 549/2013 of the European Parliament and of the Council ( 12 ) and excluding financial vehicle corporations engaged in securitisation transactions (FVCs) as defined in paragraph 2.90 of that Annex; (10) ‘custodian’ means an entity belonging to the ‘financial corporations sector’ as defined in paragraph 2.55 of Annex A to Regulation (EU) No 549/2013 and undertaking the safekeeping and administration of financial instruments for the account of clients, including custodianship and related services such as cash/collateral management as specified in Section B, point (1), of Annex I to Directive 2014/65/EU of the European Parliament and of the Council ( 13 ) ; (11) ‘undertakings for collective investment in transferable securities’ (UCITS) means ‘undertakings for collective investment in transferable securities’ as referred to in Article 1(2) of Directive (EC) No 2009/65 of the European Parliament and of the Council ( 14 ) ; (12) ‘non-UCITS IF’ means IFs that are not UCITS as defined in point (11).