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Ministry of Justice

Republic of Moldova

On March 12, 2015 No. 1030

RESOLUTION OF THE NATIONAL COMMISSION ON THE FINANCIAL MARKET OF THE REPUBLIC OF MOLDOVA

of January 31, 2015 No. 5/15

About approval of the Regulations on restrictions and types of tools in which can perform investments of the organization of collective investment into securities

Based on Art. 112 of the h. (3) the Law No. 171 of July 11, 2012 "About the capital market" (The official monitor of the Republic of Moldova, 2012, No. 193-197, the Art. 665) the National commission on the DECIDES: financial market

1. Approve Regulations on restrictions and types of tools in which can perform investments of the organization of collective investment into securities, according to appendix.

2. This resolution becomes effective from the date of publication.

Chairman of the National commission on the financial market

Artur Hermann

Appendix

to the Resolution of the National commission on the financial market of the Republic of Moldova of January 31, 2015 No. 5/15

Regulations on restrictions and types of tools in which can perform investments of the organization of collective investment into securities

This Provision is partial transposition of the Directive 2009/65/EU of the European Parliament and Council of July 13, 2009 about coordination of acts of the legal force and administrative acts about the organizations of collective investment into securities (OKITsB) (reforming) published in the Official magazine of the European Union by L 302 of November 17, 2009 and Directives 2007/16/EU of the Commission of March 19, 2007 about application of the Directive 85/611/CEE of Council on coordination of acts of legal force and administrative acts about certain organizations of collective investment into securities (OKITsB) in the part relating to explanation of certain concepts (the relevant text for SEE), published in the Official magazine of the European Union by L 79 of March 20, 2007.

Chapter I. General provisions

1. This Provision determines restrictions on types of tools in which investments, and the maximum amount of investments of certain category, and also the regulations concerning fund of guaranteeing investments are performed.

2. The concepts and expressions used in this Provision have the determinations provided by the Law on the capital market No. 171 of July 11, 2012 (further – the Law No. 171 of July 11 2012). For the purposes of this provision the below-stated concepts and expressions have the following determinations:

kontragentny risk - the risk of loss of the organizations of collective investment into securities (further – OKITsB) determined by possible failure to carry out by the partner in the transaction of the obligations to performing final cash payment under the transaction;

financial institution – the bank determined according to the Law on financial institutions No. 550-XIII of July 21, 1995 or the legal entity from the countries of the European Union or the third country performing activities for attraction of deposits or other compensated funds of citizens and for loan granting at own expense;

shares – the shares or investment shares issued by investment companies or, respectively, investment funds which take continuously place and redeemed;

fair value – the amount on which exchange of asset or payment of the obligation as a result of transaction between the informed, interested and independent parties can be performed.

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