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The Bonds Act signed by the President

On 2nd February 2015 the new Bonds Act, in the form accepted by the Parliament, was signed by the President.

The Act has extended the scope of the personal bond issuers with foreign entities and special purpose vehicles. The above Act has also introduced the institution of the meeting of bondholders, as a quasi – authority, representing the bondholders of the series against the issuer. The new regulation has also introduced perpetual and subordinated bonds, and thus extended the scope of the instruments available to issuers.

The Act shall come into force on 1st July 2015.

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