Bill on the liquidation and payments of investment funds submitted to Parliament
A 9-article bill prepared for liquidated investment funds has been submitted to the Grand National Assembly of Turkey (TBMM). No public funds will be used in the process, and interim payments of up to 1 million liras will be made to investors.
A new 9-article bill prepared by the AK Party, covering investment funds liquidated by the decision of the Capital Markets Board, has been submitted to the Presidency of the Grand National Assembly of Turkey.
Scope and Details of the Bill
The new 9-article bill prepared by the AK Party covers investment funds that were liquidated by the Capital Markets Board's decision dated September 17 and whose liquidation was completed by the date the law enters into force.
Within the scope of the bill, it was stated that there is no negative situation in the capital markets, and the entire legal framework regarding the payments and liquidation processes is being clarified.
No Public Funds Will Be Used and Interim Payments
Official authorities emphasized that no public funds will definitely be used in the refund process eagerly awaited by investors.
The interim payment amount to be made to investors during the liquidation process has been set as the net investment amount for those whose net investment is below 1 million liras, and a maximum of 1 million liras for those with 1 million liras and above.
Liability and Collection by the SDIF
Personal liability will be the basis for those who carried out unlawful transactions, and the possibility of forced collection through the Savings Deposit Insurance Fund (SDIF) will be introduced.
The tracking and collection of amounts determined by the Capital Markets Board will be carried out by the SDIF, and the provisions regarding public receivables will be applied in this process.