12Article 6(4) and (6) of that directive provides:4.By way of derogation from paragraph 2, Member States may authorise an external AIFM to provide the following services:(a) management of portfolios of investments, including those owned by pension funds and institutions for occupational retirement provision in accordance with Article 19(1) of Directive 2003/41/EC [of the European Parliament and of the Council of 3 June 2003 on the activities and supervision of institutions for occupational retirement provision (OJ 2003 L 235, p. 10)], in accordance with mandates given by investors on a discretionary, client-by-client basis;(b) non-core services comprising:(i) investment advice;(ii) safe-keeping and administration in relation to shares or units of collective investment undertakings;(iii) reception and transmission of orders in relation to financial instruments.…6. Article 2(2) and Articles 12, 13 and 19 of Directive [2004/39] shall apply to the provision of the services referred to in paragraph 4 of this Article by AIFMs.’
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