of November 30, 1999 No. 766-IG
About investment funds
This Law establishes the general principles and rules of creation, management and regulation of activities of investment funds in the Azerbaijan Republic.
In this Law the following concepts are used:
The investment fund - public joint stock company which invests the money raised in securities due to release and open share placing and also performs activities for purchase and sale of securities and owns the diversified investment portfolio;
The investment declaration - the main document establishing the purposes, the directions of investment investments, restrictions for activities of investment fund, reflecting requirements to the diversified investment portfolio, directing the current investing activities of fund and its administration (managing director);
The affiliate of investment fund (further - the affiliate) - any legal entity or physical person which is interested in activities of investment fund also can exert actions, considerable from the legal point of view, impact on its activities, or person on whose activities impact in the specified form by investment fund is made;
Administration (managing director) of investment fund - the legal entity (physical person) who performs activities for management of securities and acts on the basis of the agreement signed with investment fund on management;
Net assets of investment fund - difference between market price of property of investment fund and its financial liabilities.
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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The document ceased to be valid according to the Law of the Azerbaijan Republic of October 22, 2010 No. 1101-IIIQD