Georgia to Adopt Law on Investment Foundations
The National Bank of Georgia (NBG) will hold discussions on the bill of amendments to the Georgian Law on Investment Foundations and the Tax Code. The meeting was attended by representatives of donor organizations, public and private sectors.
The bill on Investment Foundations will be initiated at the parliament in the near future. Objective of the bill is to develop investment funds in Georgia, determine due regulations and ensure free competition.
The law is to identify legal grounds for establishing investment foundations and regulations for implementing their activities and protecting investors’ interests.
The law will be applied to investment foundations and assets management companies, as well as to other physical and legal bodies, who are engaged in investing, managing, storing, administering and registering assets of investment foundations.