Regulatory Alerts2021-01-01
Rulebook on the Liquidation and Extension of the Duration of an AIF (Official Gazette Nos. 26/19 and 137/21 – Unofficial Consolidated Text)
The Croatian Financial Services Agency (Hanfa) issued this Rulebook to establish comprehensive procedures for the liquidation and duration extension of Alternative Investment Funds (AIFs). It mandates specific reporting timelines, asset realization methods, and liquidator appointment criteria for both closed AIFs with legal personhood and open AIFs without legal personhood, while capping liquidation costs and defining distribution mechanisms for investors. The framework further standardizes the suspension of liquidation, extension of fixed-term durations up to 12 months, and electronic submission protocols to ensure market integrity and investor protection.
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