Capital Market

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Determining business days for the capital market, insurance, and savings at the Ministry of Finance, and the definition of the Mutual Funds Law.

The capital market, with its derivatives, is replete with legislation. Common to most is the definition of “business day,” which is typically referenced via the Mutual Funds Law.

For example, Section 1 of the Income Tax Regulations (Rules for Approval and Management of Pension Funds), 1964, refers to the Mutual Funds Law.

Similarly, Section 1 of the Financial Services Supervision Regulations (Pension Funds) (Transfer of Funds Between Pension Funds), 2008, also refers to the Mutual Funds Law.