Rulebook on the Compulsory Transfer of Management of UCITS Funds

Procedure for the Public Call for Collection of Bids for the Takeover of Management and Selection of the Most Suitable Company in the Compulsory Transfer of Management
Article 2. (NN 77/26)
(1) The depositary shall, within 60 days from the date the grounds for the compulsory transfer of management of the fund under Article 90 of the Act occurred, conduct an appropriate procedure for collecting bids from management companies that meet the conditions for managing a UCITS fund and are interested in taking over the management of the fund, and for selecting a new management company. (2) The depositary shall conduct the collection of bids by publishing a public call in one or more daily newspapers sold throughout or predominantly in the Republic of Croatia, and on its website, whereby it calls upon all interested management companies that meet the conditions for managing a UCITS fund to submit a bid for the management of the UCITS fund under the temporary management of the depositary within 15 days. (3) If more than one management company that meets the conditions for taking over the management of a UCITS fund responds to the call under paragraph 2 of this Article, the depositary is obliged, when selecting the management company, to exclusively take into account the interests of the investors in the UCITS fund. (4) After the procedure under paragraph 1 of this Article is completed, the depositary and the acquiring company shall immediately conclude an agreement on the transfer of management, which agreement must contain a description of all procedures and actions to be taken in connection with the transfer of management. (5) After the conclusion of the agreement under paragraph 4 of this Article, the acquiring company shall submit an application for the issuance of approval for taking over the management of the UCITS fund to the Agency no later than within three days. (6) The application under paragraph 5 of this Article and the accompanying documentation may be submitted by the acquiring company in the manner and in accordance with the Technical Instruction for the Use of the System for Submission of Data in Electronic Form of the Croatian Financial Services Supervisory Agency reports.hanfa.hr and the Instruction for Filling Out WEB Forms for Management Companies of UCITS Funds. (7) It is deemed that the management company has submitted the documentation under paragraph 6 of this Article at the moment it is recorded on the server for sending such documentation.

Content, Method of Publication and Delivery of Information and Notices on the Compulsory Transfer of Management
Article 3. (NN 77/26)
(1) The depositary and the acquiring company are obliged to publish on their website, in a visible place, on the next working day from the date of publication of the Agency's decision issuing approval for taking over management, and in any case before the actual transfer of management, information on the intended transfer of management, which information shall contain:
a) a brief explanation of the reasons for the compulsory transfer of management in accordance with Article 90 of the Act, b) basic data on the selected acquiring company and the criteria by which the depositary was guided in such selection, c) information on all procedures and actions to be taken in connection with the transfer of management, with the indication of the date when the management will be transferred to another management company in accordance with Article 93 paragraph 3 of the Act, and d) information on the right of investors in the UCITS fund being transferred, in accordance with Article 93 paragraph 4 of the Act, with the indication of the date by which they may submit requests for redemption of units without paying an exit fee. (2) The depositary is obliged, within eight days from the date of publication of the Agency's decision issuing approval for taking over management of the UCITS fund, and in any case before the actual transfer of management, to notify the investors in the UCITS fund being transferred, and such notification shall contain all data from paragraph 1 of this Article. (3) The depositary shall deliver the notification under paragraph 2 of this Article to investors in electronic form or in printed form, if the investor has requested receipt of information and/or documents in printed form, in accordance with Article 112 of the Act.

Final Provisions
Article 4.
This Rulebook shall enter into force on the eighth day from the date of publication in the "Official Journal".

FINAL PROVISION
The Rulebook on Amendments to the Rulebook on the Compulsory Transfer of Management of UCITS Funds (NN 77/26) entered into force on 23 July 2026.
Article 3.
This Rulebook shall enter into force on the eighth day from the date of publication in the "Official Journal".