Communication on the launch of a Standardised Model Articles of Incorporation for UCITS – an additional model template to support the examination of an application for approval of a new UCITS
Further to the implementation of a Standardised Model Prospectus (communication on 17 November 2022), the CSSF is pleased to announce the availability of Standardised Model Articles of Incorporation that applicants can use when submitting an application for approval of a new UCITS set up in corporate form (SICAV).
The Model Articles of Incorporation has been developed with the aim to facilitate the drafting of Articles of Incorporation for a SICAV project of average complexity and to facilitate through standardisation its examination by the CSSF during the processing of the application file.
The Standardised Model Articles of Incorporation is not a new regulatory requirement nor a guarantee for approval. The current authorisation process, from the submission of a request, the exchange of comments where relevant and the approval process of a UCITS, remains unchanged as described on the webpage “Authorisation of a UCITS”.
While the Model Articles of Incorporation is set up to reflect current and up-to-date practice, the content is composed of information of a universal nature and may need customisation to suit the context and circumstances of any specific SICAV project.
The Standardised Model Articles of Incorporation provides certain freedom to add or alter text, however limited to the extent to not override the benefit of standardisation.
You can visit the dedicated page in relation to the Standardised Model Articles of Incorporation on the CSSF website for further information on the scope, conditions of use and practical guidance in respect to the proposal.