YEREVAN, July 3. /ARKA/. The National Assembly of Armenia, in an extraordinary session on Friday, adopted in the second and final reading an amendment to the law on investment funds.
According to Deputy Minister of Economy Lilia Sirakanyan, it is proposed to raise the maximum allowable number of participants in a non-public investment fund from 49 to 99.
"A non-public fund may have no more than 99 participants. If this threshold is exceeded, the fund is obliged within 90 calendar days either to re-register as a public fund or to reduce the number of participants to the established level. Otherwise, it is subject to liquidation by court order," said Sirakanyan.
She noted that the current limit of 49 participants no longer corresponds to market development and the logic of related legislation. From 2020 to 2024, the number of non-public investment funds in Armenia has increased more than threefold, from 36 to 112.
Sirakanyan emphasized that the key feature of a non-public fund is not so much the number of participants as the prohibition on the public placement of its securities.
"The current threshold of 49 participants seems excessively strict. The new limit of 99 participants is better aligned with the existing regulatory system," said the deputy minister.
