Regulatory Alerts2005-07-18
Law No. 2005-58 of July 18, 2005 on Seed Funds
The Tunisian State enacted Law No. 2005-58 to establish seed funds as specialized securities investment vehicles designed to strengthen the equity of innovative projects prior to their effective startup phase. The legislation mandates that these funds deploy capital through direct equity participation, shareholder current account advances, and patent exploitation to complete technical studies and commercialization processes. It further defines unit holder redemption rights, fund liquidation triggers, manager qualifications under existing financial codes, and aligns operational rules with the Collective Investment Scheme Code while permitting specific statutory derogations.
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