2 And further detailed in particular in the Commission Regulation (EU) 583/2010 and corresponding ESMA Q&As 4. While currently UCITS (or their management companies) send their KIID to the home compet

The correct reading is as set out in point (a): UCITS (or their management companies) shall send the PRIIPs KID (instead of the UCITS KIID) to the home competent authority of the UCITS (as per Article 82 of Directive 2009/65/EC). Explanation: According to recital 7 of Directive (EU) 2021/2261 of the European Parliament and of the Council, 2 which introduced Article 82a in Directive 2009/65/EC, “The key investor information and the KID cover essentially the same information requirements. It is therefore necessary to ensure that retail investors in PRIIPs interested in acquiring units of UCITS do not receive, from 1 January 2023, both documents for the same financial product.” The new Article 82a of Directive 2009/65/EC therefore provides that the key information document (“PRIIPs KID”) drawn up, provided, revised and translated by a management company for a UCITS pursuant to Regulation (EU) No 1286/2014 is considered to “satisfy the requirements applicable to key investor information set out in Articles 78 to 82 and Article 94 of this Directive.” Therefore, the PRIIPS KID replaces the UCITS KIID for the purposes of Directive 2009/65/EC and Articles 78 to 82 and Article 94 of Directive 2009/65/EC, relating to the drawing up, the content, the translation, the updating of key information are considered to be satisfied in the presence of a PRIIPS KID. The notification requirement to home NCAs under Article 82 of Directive 2009/65/EC still applies, but the UCITS KIID is replaced by the PRIIPs KID for the satisfaction of that requirement.