Article 5 Notification of changes to the membership of the management body

An investment firm shall notify the competent authority of any change to the membership of its management body before such change takes effect.

Where, for substantiated reasons, it is not possible to make the notification before that change takes effect, it shall be made within 10 working days after the change.

The investment firm shall provide the information on the change referred to in paragraph 1 in the format set out in Annex III.