AK Party Amendment Blocks Frozen Transactions in Fund Liquidation Bill at Parliament
Midnight amendment covers approximately 250,000 of 450,000 victims under liquidation provisions; opposition claims violation of Capital Markets Law Article 79.
An amendment submitted by the AK Party at midnight to Article 3 of the fund liquidation bill under discussion in the Turkish Grand National Assembly was accepted, bringing frozen unit participation instructions within the scope of liquidation.
New Party Group Deputy Chair Gökhan Günaydın argued that participation instructions for 250,000 of the 450,000 victims were not executed due to lack of price formation or fund default, and claimed that this amendment deprived the affected segment of their receivables rights.
CHP Deputy for Karabük Cevdet Akay stated that approximately 200,000 investors' rights were seized, noted that Article 79 of the Capital Markets Law guarantees settlement finality, and argued that affected investors would win their case at the Constitutional Court.
The General Assembly, chaired by Parliament Vice President Tekin Bingöl, approved the first five articles of the bill. The news was reported by Hürriyet.
Sources — how we know this
- PrimaryHürriyet