Regulatory Alerts2020-11-11 | 198/04Order Approving the Liquidation Rule of the Investment Fund
The President of the National Bank of Georgia issued Order N198/04 to approve the regulatory framework governing the liquidation of investment funds and their sub-funds. The rule mandates the appointment of a liquidator by the National Bank to manage asset sales, satisfy creditor claims, and oversee the winding-up process while ensuring independent liquidation for each sub-fund. It establishes strict procedural requirements for the liquidator, including notification obligations, asset inventory, and the submission of liquidation plans for regulatory approval.
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