of October 17, 2011 No. 172
About introduction of amendments to the Law of the Kyrgyz Republic "About investment funds"
Accepted by Jogorku Kenesh of the Kyrgyz Republic on September 23, 2011
Article 1. Bring in the Law of the Kyrgyz Republic "About investment funds" (Sheets of Jogorku Kenesh of the Kyrgyz Republic, 2000, No. 1, the Art. 17) the following changes:
1. In Article 1:
regarding 1 word of "open placement" shall be replaced with words "public placement":
in part 3:
- word in paragraph one "public joint stock company" shall be replaced with words "open joint stock company";
- in the paragraph the second to replace the word "issues" with the word "sales";
- paragraphs the fourth and fifth to recognize invalid;
state part 6 in the following edition:
"6. Mutual investment fund the complex of the isolated property without formation of legal entity consisting of the investment assets of clients received by managing company in trust management by public offer of investment shares, and also the property received by managing company in the course of trust management is recognized this Law.".
2. In Article 2:
the paragraph one to state in the following edition:
"The underwriter - the professional participant of the security market who signed the contract with the issuer of securities with the obligation to carry out subscription to securities or security sale, the securities issued in case of public issue, or to provide subscription to securities or their purchase by other persons.";
the fourth to state the paragraph in the following edition:
"The official - the chairman, the board member, the head and the member of executive body of investment fund, the member of the security market, and also person recognized by the official according to the legislation of the Kyrgyz Republic regulating activities of the commercial organizations.";
the fourteenth to state the paragraph in the following edition:
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