According to the provisions of the Contract Law, a legally established contract shall take effect upon its establishment. Where laws and administrative regulations stipulate that examination and approval, registration and other procedures shall be handled, such provisions shall prevail. The parties may agree to attach conditions to the validity of the contract. A contract with effective conditions shall take effect when the conditions are met. Article 44 of this Law stipulates that when the fund raising period expires, the total amount of fund shares raised by closed-end funds reaches more than 80% of the approved scale, the total amount of fund shares raised by open-end funds exceeds the approved minimum total amount of raised shares, and the number of fund share holders meets the requirements of the State Council Securities Regulatory Authority, the fund manager shall hire a statutory capital verification institution to conduct capital verification within 65,438+00 days from the date of the fund raising period expiration, and 65,438+00 days from the date of receiving the capital verification report.

This shows that the fund contract is different from the general contract, and it does not take effect upon its establishment. According to this Law and the regulations of the State Council Securities Regulatory Authority, the fund raising requirements specified in the fund contract are the conditions for the fund contract to take effect, and the fund filing procedure is the necessary procedure for the fund contract to take effect. Therefore, the fund contract can only take effect if the fund raising meets the statutory conditions and the fund manager has gone through the fund filing procedures with the the State Council securities regulatory authority in accordance with the provisions of Article 44 of this Law. The fund contract is legally binding when it comes into effect, and the parties to the fund contract enjoy rights, perform obligations and assume responsibilities in accordance with the provisions of the fund contract.