All legislative amendments necessary thereto, are planned to be adopted by 2003 at the latest. The question of a transitional period is being considered. National legislation regulating capital movement in the area of securities and undertakings for collective investment, is essentially in line with the requirements for the free movement of capital. No restrictions are imposed on inward portfolio investment made by non-residents. Residents are permitted to make outward investment in foreign securities without any restrictions.
Special rules do, however, apply in respect of resident institutional investors.
Investment companies are permitted to invest in the EEA markets on the same basis as in the domestic market, while outward investment in securities of third countries is limited, for prudential reasons. The Lithuanian Securities Commission approves the list of third country-markets in which outward investment is permitted. Such restrictions comply with the provisions of the acquis . As regards pension funds, the regime analogous to the one in respect of investment companies is being applied. Moreover, there is an additional provision limiting investment in foreign securities to 30 per cent of the companies' assets.