Regulatory Alerts2005-09-24
Decree No. 2005-2603 of September 24, 2005
Issued by the President of the Republic on September 24, 2005, this Decree implements Article 2 of the July 18, 2005 Seed Funds Law by defining asset composition and deployment rules for Tunisian seed funds. It mandates that at least 50% of a fund's assets be invested in equity participations or equity-linked securities of companies executing specified projects, with current account advances to these companies capped at 15% and counted toward the 50% threshold. Furthermore, it restricts exposure to any single issuer to a maximum of 15% and requires all assets to be fully deployed within four years following subscription, with unutilized funds temporarily held in securities.
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