WORLD TRADE S/C/N/41
10December 1996
ORGANIZATION
(96-5146)
Original: English Council forTrade inServices
NOTIFICATION PURSUANT TOARTICLE III.3OFTHE
GENERAL AGREEMENT ONTRADE INSERVICES
Thefollowing notification hasbeenreceived from Liechtenstein.
____________
1. Member notifying:
Liechtenstein.
2. Notification under Article(s):
Article III,paragraph 3(Transparency)
3. Date ofentry intoforce:
10July1996
Duration:
indefinite.
4. Agency responsible forenforcement ofthemeasure:
Office forBanking Supervision
5. Complete description ofthemeasure:
- ActonInvestment Undertakings of3May1996 (LGBl. 89/1996);
- Ordinance totheActonInvestment Undertakings of2July1996 (LGBl. 90/1996).
ThenewActonInvestment Undertakings hasbeenintroduced inconformity withEuropean
regulations. Duetothenewactinvestment undertakings arefunds which areraised bythepublic
following public advertising forthepurpose ofacollective capital investement andwhich areususally
invested andmanaged forthecollective account oftheunit-holders according totheprinciple ofrisk-
spreading. Thenewactregulates investement undertakings fortransferable securities, forrealestate
andforother assets asprecious metals, commodities orderivatives.
./.S/C/N/41
Page2
Before taking uptheirbusiness activities investment undertakings mustobtain alicence from
theGovernment. Thelicence isgranted ifafewconditions concerning organization, depositary bank,
legalform offundmanagement, guarantee ofsatisfactory business conduct andnetassets aremet.
6. Members specifically affected, ifany:
None.
7. Textavailable from:
Enquiry point.