COLLECTIVE INVESTMENT UNDERTAKINGS

means undertakings for collective investment in transferable securities (UCITS) as defined by Directive 2009/65/EC of the European Parliament and of the Council (13) and alternative investment funds (AIFs) as defined by Directive 2011/61/EU of the European Parliament and of the Council (14)

(art. 2 Position (EU) No 7/2015 of the Council at first reading with a view to the adoption of a Regulation of the European Parliament and of the Council on insolvency proceedings (recast) Adopted by the Council on 12 March 2015)

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