Regulatory Alerts2012-07-24
Decree No. 2012-891 of July 24, 2012
The Prime Minister of Tunisia, on the proposal of the Ministry of Finance, issued Decree No. 2012-891 to implement Articles 22 ter and 22 quater of the Collective Investment Funds Code, establishing specific caps on fund interventions (15% per issuer and 20% per fund) and employment rates for convertible bonds, while repealing Decree No. 2006-381 and amending the administrative organization of the Tunisian Solidarity Agency. The decree mandates that risk investment common funds allocate their assets within two years of share release, ensures tax advantages apply to newly issued bonds linked to project results, and sets a 30% aggregate limit on equity-assimilated interventions. These measures streamline venture capital and seed fund operations, clarify regulatory compliance thresholds, and strengthen oversight mechanisms for public financial entities.