RESOLUTION OF THE NATIONAL COMMISSION ON THE FINANCIAL MARKET OF THE REPUBLIC OF MOLDOVA

of October 9, 2014 No. 49/14

About approval of the Regulations on issue of the conclusion on creation and functioning of the organizations of collective investment

Based on Art. 90 of the h. (1) and (6), Art. 106 and 111 of the Law No. 171 of 11.07.2012 "About the capital market" (The official monitor of the Republic of Moldova, 2012, No. 193-197, the Art. 665), Art. 11 of h (3), h (5) and h (6), Art. 12 of h (1) and h (13), Art. 25 of h (5) and h (6), Art. 32 of h (14) and h (15), Art. 33 of h (5) and h (7) the Law on the alternative organizations of collective investment No. 2/2020 (The official monitor of the Republic of Moldova, 2020, No. 94-98, the Art. 142), the National commission on the DECIDES: financial market

1. Approve Regulations on issue of the conclusion on creation and functioning of the organizations of collective investment according to appendix.

2. This resolution becomes effective from the date of publication.

Appendix

to the Resolution of the National commission on the financial market of the Republic of Moldova of October 9, 2014 No. 49/14

Regulations on issue of the conclusion on creation and functioning of the organizations of collective investment

This Provision is partial transposition of the Directive 2009/65/EU of the European Parliament and Council of July 13, 2009 about approval of acts of the legal force and administrative acts about the organizations of collective investment into securities (OKITsB) (reforming) published in the Official magazine of the European Union by L 302 of November 17, 2009 and Directives 2010/43/EU of the Commission of July 1, 2010 about application of the Directive 2009/65/EU of the European Parliament and Council in the part relating to organizational requirements, conflicts of interest, rules of conduct, risk management and contents of the agreement between depositary and society of trust management, published in the Official magazine of the European Union by L 176 of July 10, 2010.

Chapter I. General provisions

1. This Provision establishes procedure for giving, consideration of the application and issue by the National commission on the financial market (further - the National commission) pre-trial detention on creation of the organizations of collective investment and on modification and/or amendments in documents which formed the basis for issue of pre-trial detention, and also terms of replacement of society of trust management of investments, societies on investment management and depositary. Also the Provision establishes requirements to officials of society of trust management of investments and procedure for compliance of persons managing activities of society for investment management, investment company and depositary.

2. The concepts and expressions used in this Provision have the values provided in the Law on the capital market No. 171/2012 (further - the Law No. 171/2012) and the Law on the alternative organizations of collective investment No. 2/2020 (further - the Law No. 2/2020). For the purpose of this provision the below-stated concepts and expressions have the following values:

investment company - the organization of collective investment into securities (further - OKITsB) determined and created according to the Law No. 171/2012 or the alternative organization of collective investment (further - AOKI) determined and created according to the Law No. 2/2020, on the basis of the constituent act namely - investment company, joint-stock investment company and limited investment company;

the organization of collective investment (further - OKA) - the organization of collective investment into securities (OKITsB) and/or the alternative organization of collective investment (AOCI) as they are determined in the Law No. 171/2012 and, respectively, in the Law No. 2/2020;

officials are the physical persons performing the function of management and management in the society of trust management of investments (ODUI), OKITsB founded as investment company, and depositary and which can influence their decisions.

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