Article 9. Requirements for joint-stock investment funds The Law on Investment and Venture Funds

Home / RLA / Article 9. Requirements for joint-stock investment funds The Law on Investment and Venture Funds

1. A joint-stock investment fund may not:

1) to carry out other types of activities other than those specified in this Law;

2) to introduce a "golden share";

3) create subsidiaries;

4) issue and place other financial instruments other than ordinary shares.

The prohibition established by subitems 3) and 4) of paragraph 1 of this article does not apply to joint-stock investment funds for risky investments and real estate funds.

Real estate funds have the right to create subsidiaries, the main activity of which is the maintenance of real estate acquired at the expense of assets of real estate funds.

Real estate funds have the right to lease real estate acquired at the expense of the fund's assets.

2. The accounting and storage of the property of a joint-stock investment fund intended for investment is carried out by the custodian in accordance with the custody agreement.

3. A management company, an audit organization and an appraiser who have concluded relevant agreements with a joint-stock investment fund should not be affiliated with each other.

4. Excluded by the Law of the Republic of Kazakhstan dated December 28, 2011 No. 524-IV (effective after ten calendar days after its first official publication).

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

Constitution Law Code Standard Decree Order Decision Resolution Lawyer Almaty Lawyer Legal service Legal advice Civil Criminal Administrative cases Disputes Defense Arbitration Law Company Kazakhstan Law Firm Court Cases