The Legal Description Of Corporate Investment Funds As A Legal Entities In Private Law
The purpose of this article is to determine the place of corporate investment funds among the entities of private law and implementing a comprehensive analysis of the criteria that define them belonging to investment funds.
Initiative will of the founders is also evident in the freedom of choise of the legal form and the object of activity. However, the general rules may evolve in the special provisions of certain legal acts. This situation arises in respect of investment funds. Of course, that corporate investment funds formed by the will of the founders, which is confirmed in part 3, article 8 of the Law, according to which corporate funds can be created only by the establishment and Part 1 of Article 9 of the Act specifies that the founders are individuals who have decided to create it. These standards emphasize private-law nature of investment funds. However, the specificity of corporate investment funds affect the freedom of expression on the election of the founders of the legal form and the object of activity. In the particular, part 1 of article 8 of the law stresses that corporate funds only created a joint stock company and solely for investment. These special rules due to the scope of activities indirectly related to ensuring public interests of the state, as it comes to investing, and thus the state of the economy. That is why this field of activity subject to elevated levels of regulation. It should be noted that the said fact does not affect the free will of the founders of establishing corporate investment funds and does not change its private-law nature.