engleski

Investment Funds - Croatian Legislation and the EU Legislation

Comparison between the Directive EU and proposal amendments with Law on investement funds shows the degree of thei necessary harmonisation.The central part of this analysis is the investment forms of collected sources an their limits. Obliged conditions for establishment of Management Company, except minimal initial capital, have been established in both legislation, almost equally. The new forms of investment that have been established in the amendments of the directive have been aleady included in Croatian law, but without proposed limitation. Analysis shows the necessity of including in Croatian law investment forms from the proposal amendments. Because of including investment funds from Croatia in cross border investmens, it is necessary to realise harmonisation with the EU legislation. The time of Croatian including in the EU membership doesn't interfere with the necessity of harmonising Croatian and the EU legislation for investment funds, because this harmonisation is condition for cross border investments. The necessity to harmonise Croatian legislation with the EU legislation in connection with investment forms and their limits, has been stressed particularly. Investment's limitation in the deposits of financial institutions has been found necessary because of fund's necessity to realise its real nature. The necessity of harmonisation of Croatian investment fund's law with the EU law is in keeping with the construction of integral Croatian law system according to the EU law.

bonds; investment funds; investment company; management company; shares; transferable securities; unit trust

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