of June 5, 1997 No. 1204-XIII
About investment funds
The parliament adopts this law.
(1) This law determines procedure for creation, activities and reorganization of investment funds.
(2) Provisions of this law extend to the investment funds created or created in the Republic of Moldova.
(3) Creation, activities and the termination of activities of investment funds in the part which is not settled by this law are regulated by the Civil code, the Join-stock companies law, the legislation on securities and other regulations.
(1) the Investment fund the open joint stock company - the professional participant of the security market which is recognized:
a) raises funds by placement of the shares;
b) systematically invests and reinvests the raised funds mainly in securities of other issuers and
c) in which book value of general assets the annual average share of securities of other issuers constitutes at least 35 percent.
(2) Activities of investment fund cannot be combined with other types of activity.
(3) Investment funds are not holdings, banks, financial and industrial groups, insurance companies and, the pension funds, and also the joint-stock companies which resulted from application of provision of Item b) parts (1) article 31 of this law.
(1) Investment funds depending on conditions of placement and the redemption of the shares are subdivided into mutual and interval funds.
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The document ceased to be valid since September 14, 2013 according to part 16 of article 147 of the Law of the Republic of Moldova of July 11, 2012 No. 171 "About the capital market"