ANKARA: A lawmaker from Turkish President Tayyip Erdogan’s ruling AK Party said on Thursday that draft legislation governing the liquidation of investment funds was expected to be submitted to parliament within days.

The proposed temporary law aims to establish a legal framework for the liquidations, prioritize the protection of small investors ⁠and set rules ⁠for payments, the lawmaker with knowledge of the matter said.

Under the proposal, authorities would adjust amounts invested in and withdrawn from the funds ⁠for inflation, with interim payments of up to 1 million Turkish lira ($20,321) per investor targeted for October.

The draft is expected to reach the parliamentary committee stage before discussions on the 2027 budget, scheduled for the week starting Oct.19.

The bill would also include ⁠provisions ⁠for recovering losses from those held responsible and establish a legal basis for extraordinary liquidation proceedings.

Real estate is among the assets that could be sold to raise funds for investor payments, with the legislation setting out how such assets would be liquidated and the proceeds distributed.