المادة 12(c): Additional Duties Specific to the Public Financing Fund Manager

(c) The aspects relating to the investment decision-making mechanism with financing companies, where indirect financing activities are carried out through co-investment with such financing companies. The Board of Directors of the Fund shall ensure the completeness and accuracy of the aspects set out in subparagraphs (a), (b), and (c) of this paragraph.

5) In the case of a public Indirect Financing Fund, where the fund manager intends to invest through the acquisition of financing portfolios, the terms and conditions shall disclose the acquisition policy and criteria, including at a minimum the following information:

(a) The average number of days of default in the financing portfolio intended to be acquired.

(b) The sectors in which the actual or potential beneficiaries of the financing portfolio intended to be acquired operate, and the exposure percentage to each sector.

(c) The period elapsed since the financing was granted to the beneficiaries in the financing portfolio intended to be acquired, provided that such period shall not be less than six months.

b) In the case of a traded financing fund, the fund manager shall immediately disclose any default by a beneficiary.