Article 18. Consolidation or change of the form of mutual investment funds The Law on Investment and Venture Funds

Home / RLA / Article 18. Consolidation or change of the form of mutual investment funds The Law on Investment and Venture Funds

1. It is allowed to combine mutual investment funds of the same form on the terms and in accordance with the procedure established by the rules of the fund.

2. The general Meeting of holders of shares of a closed-end mutual investment fund may decide to change the form of the fund into an open or interval mutual investment fund, provided that the structure of the investment portfolio of a closed-end mutual investment fund meets the requirements provided for by this Law, the regulatory legal act of the authorized body and the rules of the investment fund regarding the investment structure of the portfolio of an open or interval mutual investment fund the foundation.

3. It is not allowed to change the form of an open-ended or interval mutual investment fund into a closed-end mutual investment fund.

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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