Regulatory Alerts1998-08-13
Decree of August 13, 1998 implementing Article 36 of Ordinance No. 96-08 regarding Collective Investment Schemes
Issued by the Minister of Finance of Algeria on August 13, 1998, this decree implements Article 36 of Ordinance No. 96-08 concerning collective investment schemes in securities. It formally defines the categories of legal entities authorized to serve as depositary institutions for the assets of these schemes. Specifically, it designates banks and financial establishments licensed under the Monetary and Credit Law as the eligible entities for this custodial function.
Decree of 20 Rabie Ethani 1419 corresponding to August 13, 1998, implementing Article 36 of Ordinance No. 96-08 of 19 Chaâbane 1416 corresponding to January 10, 1996, regarding collective investment schemes in securities (CIS) (SICAV) and (FCP). The Minister of Finance, Having regard to Law No. 90-10 of April 14, 1990, as amended, relating to currency and credit. Having regard to Ordinance No. 96-08 of 19 Chaâbane 1416 corresponding to January 10, 1996, regarding collective investment schemes in securities (CIS) (SICAV) and (FCP); Having regard to Presidential Decree No. 97-231 of 20 Safar 1418 corresponding to June 25, 1997, appointing members of the Government; Having regard to Executive Decree No. 95-54 of 15 Ramadhan 1415 corresponding to February 15, 1995, fixing the attributions of the Minister of Finance; Decrees: Article 1. — In application of Article 36 of Ordinance No. 96-08 of 19 Chaâbane 1416 corresponding to January 10, 1996, cited above, the purpose of this decree is to define the categories of legal entities authorized to exercise the function of depositary institution for the assets of collective investment schemes in securities (CIS). Art. 2. — Without prejudice to the provisions of Article 39 of Ordinance No. 96-08 of 19 Chaâbane 1416 corresponding to January 10, 1996, cited above, banks and financial establishments licensed under Law No. 90-10 of April 14, 1990, relating to currency and credit, are authorized to exercise the function of depositary institution for the assets of collective investment schemes in securities. Art. 3. — This decree shall be published in the Official Journal of the Algerian People's Democratic Republic. Done in Algiers, on 20 Rabie Ethani 1419 corresponding to August 13, 1998. Abdelkrim HARCHAOUI. COSOB Regulation Decree of 13-08-1998