CHAPTER III U.K. OPERATING CONDITIONS FOR INVESTMENT FIRMS

SECTION 2 U.K. Information to clients and potential clients

Article 34 U.K. (second and fourth indent of Article 19(3) of Directive 2004/39/EC)Information drawn up in accordance with Directive 85/611/EEC

1. Member States shall ensure that in respect of units in a collective investment undertaking covered by Directive 85/611/EEC, a simplified prospectus complying with Article 28 of that Directive is regarded as appropriate information for the purposes of the second indent of Article 19(3) of Directive 2004/39/EC.

2. Member States shall ensure that in respect of units in a collective investment undertaking covered by Directive 85/611/EEC, a simplified prospectus complying with Article 28 of that Directive is regarded as appropriate information for the purposes of the fourth indent of Article 19(3) of Directive 2004/39/EC with respect to the costs and associated charges related to the UCITS itself, including the exit and entry commissions.