of May 24, 2012 No. 4854-VI
About introduction of amendments to article 4 of the Law of Ukraine "About institutes of joint investment (share and corporate investment funds)" concerning protection of valuable interests of participants of urgent ISI
The Verkhovna Rada of Ukraine decides:
I. Bring in article 4 of the Law of Ukraine "About institutes of joint investment (share and corporate investment funds)" (Sheets of the Verkhovna Rada of Ukraine, 2001, No. 21, Art. 103; 2009, No. 16, Art. 218) such changes:
1. The sixth - the ninth to state parts in such edition:
"Urgent ISI is created for the certain term established in regulations by ISI after which termination the specified ISI stops if according to requirements of parts of sedmoydevyaty this Article the decision on prolongation of term of activities of such ISI is not made.
Prolongation of term of activities of urgent ISI is performed according to the decision of general meeting of shareholders of corporate ISI or the supervisory board of share ISI, and in case of its otsutstviyaupolnomochenny body of the company for asset management of such ISI.
In case of adoption of the specified decision corporate ISI shall perform share repurchase of this ISI at shareholders who voted against adoption of such decision or did not take part in vote concerning it and require the redemption of the shares which are due to them, and the company on asset management of share ISI shall perform the redemption of investment certificates of this ISI from participants who do not agree with the specified decision and require the redemption of the investment certificates which are due to them. Such shareholders of corporate ISI and participants of share ISI have the right to require the redemption of securities of ISI from them in quantity which does not exceed the number of securities which owners they were on the date of decision making about prolongation of term of activities of ISI. The procedure for the obligatory redemption of securities of ISI is established by the Commission.
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