YEREVAN, July 3. /ARКА/. At an extraordinary session on Friday, the National Assembly of Armenia adopted an amendment to the Law “On Investment Funds” in its second and final reading.
As stated by RA Deputy Minister of Economy Lilia Sirakanyan, the proposal increases the maximum number of participants in a non-public investment fund from 49 to 99.
“A non-public fund will be allowed to have no more than 99 participants. If this threshold is exceeded, the fund is required to either re-register as a public fund within 90 calendar days or reduce the number of participants to the established level. Otherwise, it is subject to liquidation by court order,” Sirakanyan said.
She stated that the current limit of 49 participants is no longer consistent with market developments and the logic of related legislation. Between 2020 and 2024, the number of private investment funds in Armenia more than tripled, from 36 to 112.
Sirakanyan noted that the key characteristic of a private fund is not so much the number of participants as the ban on public offerings of its securities.
“The current threshold of 49 participants seems overly restrictive. The new limit of 99 participants is more consistent with the existing regulatory system,” the deputy minister said.
