The bill regarding the payment and liquidation of funds is in the Parliament.

The bill regarding the liquidation of funds concerning 455 thousand 578 investors and payment to beneficiaries was presented to the Turkish Grand National Assembly (TBMM) on Friday, October 9. AK Party submitted its bill regarding the payment and liquidation of funds to the Parliament today.

According to the news by Buse Gençtürk from Habertürk, a maximum of 1 million TL will be paid per investor in the interim payment.

In the final liquidation account, the investment amount will be updated with the average of CPI and D-PPI, and this indexation will not be made in the interim payment.

If the distributable cash does not cover all the interim payments, the existing cash will be distributed among the fund shareholders by maintaining the ratio.

The portfolio management company, which is the founder and/or manager of the fund, will be primarily responsible for any damage, loss or incomplete liquidation balance. Leaving office will not eliminate the responsibility arising from the actions and decisions taken during the term of office.

The proposed law aims to determine each fund's own assets and real rights holders. It is envisaged that the cash obtained after the liquidation of the fund assets will be distributed fairly to the beneficiaries.

The regulation aims to create a legal framework for investors to obtain their receivables.

STATEMENT FROM AK PARTY GROUP CHAIRMAN GÜLER

After the proposal was presented to the Parliament, AK Party Group Chairman Abdullah Güler made statements.

While Güler said in his statement, "The problem occurred in a limited area of ​​the fund market," he added, "The total portfolio size of the funds in liquidation is 2.4 percent of the financial assets of the household." Güler also emphasized, "We will address the problem and eliminate the virus from the body."

Güler also stated that the bill does not introduce a general or permanent liquidation regime, and that this bill is a temporary and exceptional regulation.

Güler also said, "Public resources will never be used or allowed during the liquidation process."