Judgment_paragraph 13 · Abbey National plc and Inscape Investment Fund v Commissioners of Customs & Excise (C-169/04)

13Directive 85/611 was amended by Directive 2001/107/EC of the European Parliament and of the Council of 21 January 2002, with a view to regulating management companies and simplified prospectuses (OJ 2002 L 41, p. 20), and by Directive 2001/108/EC of the European Parliament and of the Council of 21 January 2002, with regard to investments of UCITS (OJ 2002 L 41, p. 35). The second subparagraph of Article 5(2) of Directive 85/611, as amended, refers to Annex II to that directive which contains a non-exhaustive list of the functions included in the activity of management of special investment funds and of investment companies. That list mentions the following functions:— Investment management— Administration:(a) legal and fund management accounting services;(b) customer inquiries;(c) valuation and pricing (including tax returns);(d) regulatory compliance monitoring;(e) maintenance of unit-holder register;(f) distribution of income;(g) unit issues and redemptions;(h) contract settlements (including certificate dispatch);(i) record keeping.— Marketing’.

Abbey National plc and Inscape Investment Fund v Commissioners of Customs & Excise (C-169/04)

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