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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, Fund Management/Administration

Presidential Council Appoints Steering Committee to manage LIA

Posted on 09 September 2016

The Presidential Council recently issued an order to establish a temporary Steering Committee to manage the Libyan Investment Authority (LIA). The motive behind the decision seems sincere – to unite the leadership of our nation’s sovereign wealth fund. However on closer inspection, the decision is bad for the LIA, and bad for Libya.
Firstly, there are serious questions about the legality of the move. The decision may very well not comply with Libyan law, with the LIA’s governing documents or with Law 13 which governs the LIA. The only body entitled to appoint directors and executive managers of the LIA is the LIA’s Board of Trustees………………………………………..Full Article: Source


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VRS - who has written 19873 posts on Opalesque Sovereign Wealth Funds Briefing.


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