Critical Day in Fund Liquidation: Proposal for Interim Payments of up to 1 Million TL Submitted to Parliament.
15 Articles
15 Articles
Breaking news... The discussions on the "Draft Law on Certain Investment Funds Whose Liquidation Has Been Decided" have been completed in the Turkish Grand National Assembly's Planning and Budget Committee. The draft law concerning 131 investment funds whose liquidation was decided by the Capital Markets Board (SPK) was discussed in Parliament today...
A bill that would pave the way for interim payments to investment funds undergoing liquidation has reached a critical stage in Parliament. The aim of the regulation is to prioritize small investors and expedite the payment process without using public funds, and all eyes are now on the decision to be made by the committee.
It has emerged that the promised interim payment of up to 1 million TL to investors in liquidated funds is not guaranteed. According to the proposal, the payment cannot exceed the investor's net investment amount and will be covered from each fund's own assets. If the fund has insufficient cash, payments below 1 million TL may be made; in this case, payments will begin with the smallest investors. (Review | The illusion has collapsed; 1 million…
AK Party MP Ersan Aksu stated that the bill regarding the liquidation of 131 investment funds would not burden the public budget, saying, "Absolutely no Treasury resources or budgetary funds will be used in the liquidation process."
Discussions of the draft law on the investment funds decided to liquidate were started in the TBMM Plan and Budget Commission. The proposal provides that citizens with a net investment amount of less than 1 million liras can be paid in full, while if there is insufficient cash, payments will start from the smallest investors.
The Parliament's Planning and Budget Committee has begun discussing the bill concerning the liquidation of 131 investment funds and approximately 455,758 investors.
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