Czech News - November 1997 - New Laws And Amendments In Draft - Amendment To The

Czech Republic Accounting and Audit
The Government approved an amendment to the Act on Investment Companies and Funds, which would require funds, which are traded at more than a 25% discount to open-end by mid-1999.

Under the Act, funds would also have to reduce their maximum share in individual companies from 20% to 11% by this date.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

For further information on the above, please contact Mr Richard Fletcher by telephone on +420 2 2440 1300 or E-mail directly to richard.g.fletcher@arthurandersen.com

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