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Directive 2011/61/EU of the European Parliament and of the CouncilShow full title
Directive 2011/61/EU of the European Parliament and of the Council of 8 June 2011 on Alternative Investment Fund Managers and amending Directives 2003/41/EC and 2009/65/EC and Regulations (EC) No 1060/2009 and (EU) No 1095/2010 (Text with EEA relevance)
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Article 11Withdrawal of the authorisation
The competent authorities of the home Member State of the AIFM may withdraw the authorisation issued to an AIFM where that AIFM:
(a)
does not make use of the authorisation within 12 months, expressly renounces the authorisation or has ceased the activity covered by this Directive for the preceding 6 months, unless the Member State concerned has provided for authorisation to lapse in such cases;
(b)
obtained the authorisation by making false statements or by any other irregular means;
(c)
no longer meets the conditions under which authorisation was granted;
(d)
no longer complies with Directive 2006/49/EC if its authorisation also covers the discretionary portfolio management service referred to in point (a) of Article 6(4) of this Directive;
(e)
has seriously or systematically infringed the provisions adopted pursuant to this Directive; or
(f)
falls within any of the cases where national law, in respect of matters outside the scope of this Directive, provides for withdrawal.
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