Turkey’s Parliament to Take Up Investment Fund Payout Bill
The proposal would cap interim payments at 1 million lira and set rules for recovering assets from funds ordered into liquidation.
Key takeaways
- Parliament plans to consider the investment fund liquidation bill this week.
- Interim payments would be capped at 1 million lira per investor.
Turkey’s parliament plans to consider this week a bill allowing interim payments to investors in certain investment funds ordered into liquidation. The proposal was approved last week by the Plan and Budget Committee, according to Ekonomim.
Under the bill, investors whose net investment is below 1 million lira could receive an interim payment up to that amount. Those with net investments of 1 million lira or more would be capped at 1 million lira.
For funds other than money-market funds, the payment could not exceed the value of the fund units in an investor’s account, calculated at the end of the previous day. The proposal also sets out procedures to recover assets and losses, and would allow TMSF to be appointed trustee and sell or liquidate assets before a court case ends.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
