of July 7, 2004 No. 576-II
About investment and venture funds
This Law determines legal status, features of creation, activities, reorganization and liquidation of joint-stock investment fund, condition and procedure for creation, functioning and termination of existence of mutual investment fund, feature of legal status and activities of venture funds in the Republic of Kazakhstan, governs the relations connected with activities of professional participants of the security market for ensuring functioning of investment funds and also determines procedure for state regulation of investment funds.
In this Law the following basic concepts are used:
1) joint-stock investment fund - joint-stock company which exclusive type of activity are accumulation and investment according to the requirements established by this Law and its investment declaration, the money placed by shareholders of this society in payment of its shares, other assets accepted as a result of transformation of the legal entity to joint-stock investment fund and also the assets received as a result of such investment;
2) diversification - placement of assets of investment fund in different financial instruments and other property for the purpose of decrease in risk of reduction of their cost;
3) managing company - the professional participant of the security market performing activities for management of investment portfolio based on the license granted by authorized body;
3-1) venture fund - the particular partnership or the legal entity in the form of joint-stock company or economic partnership performing attraction and accumulation of money and other property is exclusive for the purpose of venture funding;
4) real estate fund - joint-stock investment fund which exclusive type of activity are accumulation and investment according to the requirements established by this Law and its investment declaration, the money placed by shareholders of this society in payment of its shares, other assets accepted as a result of transformation of the legal entity to real estate fund and also the assets received as a result of such investment to the real estate and other property permitted by this Law;
5) the investment declaration - the document determining the list of investment objects, the purposes, strategy, conditions and restrictions of investing activities on assets of investment fund, condition of hedging and asset diversification of fund;
6) investment revenue - the increments of assets of investment fund in terms of money received as a result of their investment;
7) investment fund - joint-stock or the mutual investment fund created according to this Law;
8) assets of investment fund - set of the assets belonging to joint-stock investment fund or constituting mutual investment fund;
9) net assets value of investment fund - the monetary value of asset cost of investment fund determined as difference between the cost of all assets of investment fund and its obligations or accrued expenses which are subject to payment for the asset account of investment fund;
10) mutual investment fund - the set of the money received in payment of shares, and also other assets acquired as a result of their investment belonging on the right of common ownership to holders of shares and being in management of managing company;
11) rules of mutual investment fund - the document which determines the purposes, conditions, procedure for functioning and termination of existence of mutual investment fund;
12) the investment decision - the decision on transaction with assets of investment fund made in process of management of its assets;
13) share - the personalized issued security without documentary form of release confirming share of her owner in mutual investment fund, the right to the money received from realization of assets of mutual investment fund and (or) other property in the case established by this Law in case of the termination of its existence and also other rights connected with features of activities of the mutual investment funds determined by this Law;
Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info
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