Article 25. Surcharges and discounts for the subsequent placement or repurchase of shares of the mutual investment fund of the Law on Investment and Venture Funds
1. The rules of a mutual investment fund may provide for the conditions of application and the amount of allowances to the estimated value of shares upon their subsequent placement or discounts from the estimated value of shares upon their redemption by the management company.
2. The maximum discount may not exceed three percent of the estimated value of a unit of a mutual investment fund when it is purchased by the management company.
3. Discounts from the estimated share price are not allowed when buying out shares of a mutual investment fund in the event of its termination or due to amendments and additions to the rules of an open or interval 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.
President
Republic of Kazakhstan
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