Article 15.31 Illicit use of the words «investment fund» or their underlying phrases

The illegal use of the words «equity fund», «investment fund» or «pay-as-you-go investment fund» or the phrases derived therefrom would entail the imposition of administrative penalties. A fine of between 10,000 and 20,000 rubles for officials; for legal persons, between three hundred thousand and five hundred thousand rubles.