Turkiye to Submit Draft Fund Liquidation Bill to Parliament Soon, Lawmaker Says
29 Articles
29 Articles
The MPs of the Justice and Development Party have submitted to Parliament a bill that holds the directors of the Governor ' s investment companies responsible for compensating the losses of liquidated funds.
AK Party MPs, under the leadership of Group Chairman Abdullah Güler, have completed their work on the draft law regarding the liquidation of the funds. The proposal, expected to be submitted to the Speaker of the Grand National Assembly, will liquidate the assets of 455,578 investors up to 1 million Turkish Lira. The proposal stipulates that each fund will manage its own assets...
Turkiye to submit draft fund liquidation bill to parliament soon, lawmaker says
ANKARA: A lawmaker from Turkish President Tayyip Erdogan’s ruling AK Party said on Thursday that draft legislation governing the liquidation of investment funds was expected to be submitted to parliament within days. The proposed temporary law aims to establish a legal framework for the liquidations, prioritize the protection of small investors and set rules for payments, the lawmaker with knowledge of the matter said. Under the proposal, auth…
Following the funding crisis, the AKP is expected to submit a bill to the Turkish Grand National Assembly this week that would initially provide payments to those with investments under 1 million TL, and later to those with investments exceeding 1 million TL.
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