1. Investment Funds shall enjoy independent legal personality and separate financial liability, and may adopt either of the following forms: a. An Investment Fund, established and licensed by a decision issued by the Authority. b. Any form of commercial company stipulated in the Companies Law, established pursuant thereto, provided that prior approval is obtained from the Authority. The Authority may exempt such fund from certain provisions of the Companies Law or any other law, in a manner consistent with the nature of its activity. 2. The Board shall issue the conditions and conditions relating to Investment Funds.
Interpretation and application must be checked against the official text and current version.