Article 14. Repurchase of shares of the joint-stock Investment Fund of the Law on Investment and Venture Funds

Home / RLA / Article 14. Repurchase of shares of the joint-stock Investment Fund of the Law on Investment and Venture Funds

1. A shareholder of a joint-stock investment fund has the right to demand the repurchase of his shares only if the general meeting of shareholders decides to reorganize the fund or introduce amendments and additions to the charter or share issue prospectus of this fund that infringe on his rights, if the shareholder participated in this general meeting and voted against the adoption of the said decision, as well as in the case of making a decision by the Board of Directors on amendments and additions to the investment declaration on the issues specified in subitems 2), 3), 5) and 6) of paragraph 1 of Article 39 of this Law.

2. Prior to the entry into force of amendments and additions to the investment declaration, a joint-stock company is obliged to redeem the shares submitted for redemption on the terms and in accordance with the procedure established by the legislation of the Republic of Kazakhstan on joint-stock companies, the charter or the share issue prospectus of this fund. The shareholders' right to file share repurchase claims is terminated after the entry into force of these amendments and additions.

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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