Article 13. The specifics of the functioning of the bodies of the joint-stock Investment Fund of the Law on Investment and Venture Funds

Home / RLA / Article 13. The specifics of the functioning of the bodies of the joint-stock Investment Fund of the Law on Investment and Venture Funds

1. The general meeting of shareholders of a joint-stock investment fund may be attended by representatives of its management company, custodian, central depository and auditing organization, as well as the authorized body.

Written notices on holding a general meeting of shareholders of a joint-stock investment fund are sent to the management company, the custodian, the central depository, the audit organization of the fund and the authorized body in accordance with the procedure established by the legislation of the Republic of Kazakhstan on joint-stock companies and the charter of the joint-stock investment fund.

2. Resolutions of the general meeting of shareholders of a joint-stock investment fund, which entail the possibility for its shareholders to submit requests for the purchase of shares of the fund, shall enter into force upon the expiration of thirty calendar days from the date of the general meeting.

3. Making decisions on amendments and additions to the investment declaration of a joint-stock investment fund falls within the competence of the Board of directors of the joint-stock investment fund.

4. At the first constituent meeting of a joint-stock investment fund, in addition to decisions on issues stipulated by the legislation of the Republic of Kazakhstan on joint-stock companies, a decision is made on the choice of a custodian.

The Law of the Republic of Kazakhstan dated July 7, 2004 No. 576.

This Law defines the legal status, specifics of the creation, operation, reorganization and liquidation of a joint-stock investment fund, the conditions and procedure for the creation, operation and termination of a mutual investment fund, the specifics of the legal status and activities of venture funds in the Republic of Kazakhstan, regulates relations related to the activities of professional securities market participants to ensure the functioning of investment funds, and It also defines the procedure for state regulation of investment funds.

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