Holding Restrictions – Investment Funds –Denmark
Restrictions on clients
No general restrictions on client residency for holdings of investment funds held through CBL. However, certain funds may impose specific restrictions on investor domicile or category. Clients must refer to and abide by the restrictions (if any) contained in the fund prospectus before entering into transactions.
Restrictions on settlement
There are no general restrictions on settlement for Danish investment funds through CBL. However, certain funds may impose specific settlement/transfer restrictions. Clients must refer to and abide by the restrictions (if any) contained in the fund prospectus before entering into transactions.
Restrictions on Investments on Selected Sectors
The Danish Act on Screening on Certain Foreign Investments and Executive Order issued pursuant thereto makes it possible to examine foreign investments and special economic agreements and to intervene and set either detailed requirements for the investment or agreement or completely prohibit it or order it to be phased out if it constitutes a security threat to Denmark.
The purpose of the Act on Screening on Certain Foreign Investments is to prevent foreign direct investment and special economic agreements from posing a threat to national security or public order in Denmark.
Disclaimer
The information contained in the Holding Restrictions is based on the legal opinion obtained by CBL that was issued on 4 May 2022. CBL believes the information to be correct as of that date but disclaims any responsibility as to the accuracy and completeness of the information after that date. In the case of discrepancy between the information provided by CBL and the local laws and regulations, the latter shall prevail. The Holding Restrictions do not constitute legal advice and clients should seek advice from independent professional counsel.
Clients are responsible for ensuring compliance with the holding restrictions and agree to indemnify and hold harmless CBL, for any loss, expense, liability, damage or claims, whether direct or indirect, against or incurred by CBL arising out of or resulting from such non-compliance.