Article 15. Reorganization and liquidation of the Joint-stock Investment Fund of the Law on Investment and Venture Funds
1. The reorganization and liquidation of a joint-stock investment fund are carried out in accordance with the procedure established by the legislation of the Republic of Kazakhstan on joint-stock companies, taking into account the specifics established by this Law.
2. In the event of a decision on reorganization or voluntary liquidation, the joint-stock investment fund must notify the authorized body no later than five working days from the date of the said decision by the general meeting of shareholders of the joint-stock investment fund.
The notification provided for in this paragraph shall be accompanied by a copy(s) of the decision(s) on reorganization or liquidation adopted by the general meeting of shareholders of the joint-stock investment fund, a copy(s) of the charter(s) of the newly created joint-stock investment fund(joint-stock investment funds).
3. Compulsory reorganization and liquidation of a joint-stock investment fund are carried out by a court decision in accordance with the procedure provided for by the legislation of the Republic of Kazakhstan. The authorized body has the right to file a claim with the court for the compulsory liquidation of the investment fund on the grounds provided for by the legislative acts of the Republic of Kazakhstan.
4. In the event of its compulsory reorganization or liquidation by a court decision, a joint-stock investment fund shall, within five working days from the date of entry into force of the court decision, send a notification to the authorized body with a copy of the court decision attached.
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.
President
Republic of Kazakhstan
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