Article 8. Requirements for founders and shareholders of a joint-stock investment fund Chapter 2. Joint-stock Investment Fund of the Law on Investment and Venture Funds

Home / RLA / Article 8. Requirements for founders and shareholders of a joint-stock investment fund Chapter 2. Joint-stock Investment Fund of the Law on Investment and Venture Funds

1. The founders or shareholders of a joint-stock investment fund may not be legal entities registered in offshore zones, the list of which is established by the authorized body.

2. The shareholders of a joint-stock investment fund may not be a management company, a custodian, a central depository, an audit organization and an appraiser who have concluded relevant agreements with this investment fund.

The prohibition established by the first part of this paragraph does not apply to shareholders of a joint-stock investment fund for risky investments.

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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