Regulatory Alerts2020-05-14
Law on Private Investment Companies
The Lebanese Chamber of Deputies enacted this law to establish and regulate Private Investment Companies (PICs) as a distinct legal framework under the simple partnership model. It mandates strict capitalization thresholds, exclusive investment in non-traded financial instruments, and the mandatory appointment of independent custodians and auditors to safeguard assets. The legislation streamlines corporate governance by exempting PICs from specific Commercial and Obligations Law provisions, enabling flexible share structuring, segregated independent portfolios, and streamlined establishment procedures while maintaining robust investor protections.
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