Regulatory Alerts2005-11-21
Decree No. 2005-3018 of November 21, 2005
Issued by the President of Tunisia, Decree No. 2005-3018 establishes the eligibility criteria and disclosure requirements for joint-stock companies issuing bonds. It mandates a minimum paid-up capital of one million dinars, two years of operation, and certified financial statements for the last two fiscal years, while exempting small and medium-sized enterprises issuing convertible bonds to venture capital investors. The decree further specifies mandatory certificate contents for subscribers, repeals the 1989 bond loan regulations, and assigns enforcement to the Ministers of Finance and Justice.
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