RESOLUTION OF THE NATIONAL COMMISSION ON SECURITIES

of October 1, 1998 No. 28/1

About approval of the Regulations on liquidation procedure of investment funds on own initiative

For the purpose of settlement of liquidation procedure and reorganization of investment funds, based on article 36 of the Law on security circulation and N1427 stock exchanges of 18.05.93 the National commission on securities DECIDES:

Approve Regulations on liquidation procedure of investment funds it (is applied).

NKTsB of the Republic of Moldova of October 1, 1998 is approved No. 28/1

Appendix

to the Resolution NKTsB No. 28/1 of October 1, 1998

Regulations on liquidation procedure of investment funds

I. General provisions

1.1. This provision is developed according to the Civil code, the Law on entrepreneurship and the companies, the Join-stock companies law, the Law on investment funds, the Order of the Government RM about procedure for reorganization of privatization investment funds.

1.2. Requirements of this provision extend only to liquidation procedure of investment fund (further - fund) on own initiative.

1.3. The liquidation procedure (further - liquidation) fund includes the termination of its activities without transition of the rights and obligations according to the procedure of legal succession to other persons, followed by transfer of assets of fund to his urgent owners after satisfaction of requirements of creditors is pro rata to the shares in the authorized capital of fund belonging to them.

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