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Change Of The Stock Exchange Act 1989, The Capital Market Law And The Accounting Control Law

Original Language Title: Änderung des Börsegesetzes 1989, des Kapitalmarktgesetzes und des Rechnungslegungs-Kontrollgesetzes

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98. Federal Act to amend the 1989 Stock Exchange Act, the Capital Market Act and the Accounting Control Act

The National Council has decided:

table of contents

Article 1

Amendment of the 1989 Stock Exchange Act

Article 2

Amendment of the Capital Market Act

Article 3

Amendment of the Accounting Control Act

Article 1

Amendment of the Stock Exchange Act

The Stock Exchange Act 1989-BörseG, BGBl. N ° 555/1989, as last amended by the Federal Law BGBl. I No 34/2015, shall be amended as follows:

1. § 3 (1) Z 6 reads:

" 6.

the initial capital is at least EUR 5 million and the managers are freely available in the Member States, without any burden, and the material and human resources of the company shall be managed and managed by the Stock exchange is guaranteed as best possible. The initial capital shall comprise only one or more of the items referred to in Article 26 (1) (1). a to e of Regulation (EU) No 575/2013; "

2. The subsection in § 15 (5) reads as follows:

" Cooperation agreements between the stock exchange company and other operators of recognised exchanges as defined in Article 4 (1) (72) of Regulation (EU) No 575/2013 and the operators of equivalent markets with registered offices in a third country may be concluded . Operators of equivalent markets with registered offices in third countries must meet the requirements applicable to regulated markets. The cooperation agreements may regulate that "

3. In § 48 (1), last sentence, the word order is deleted "and with regard to Z 9 with a fine of up to EUR 150 000" .

4. In the final part of Section 48 (1), the phrase "Z 2 to 8" through the phrase "Z 2 to 5, 7 and 8" replaced.

5. § 48 (1) (6) deleted.

6. § 48 (1) (9) deleted.

7. § 48 (3b) Z 2 reads:

" 2.

the market in question is an equivalent market with a registered office in a third country which is regulated and supervised by a State recognised body, takes place on a regular basis and directly or indirectly through a clearing participant for the public , a market established in a third country shall be deemed to be equivalent if it is subject to provisions equivalent to those laid down in Title III of Directive 2004 /39/EC; "

8. § 66 (5) Z 3 reads:

" 3.

on an equivalent market in a third country, provided that, in that market, the requirements for the admission of securities with the relevant requirements of Directive 2004 /39/EC and the legislation in force in the third country on the Preparation of a prospectus for a public offer of securities or admission to trading are comparable to those of Directive 2003 /71/EC. "

9. In § 67 (5) the word "Appointment senate" by the word "Federal Administrative Court" 6. § 70 reads:

" § 70. Admission to official trading and to the regulated free circulation of securities which are not in the form of a collection certificate deposited with a central securities deer is inadmissible. "

10. In § 71, the phrase "Securities of a company with a registered office in a third country" through the phrase "Shares and other equity securities of a company with a registered office in a third country pursuant to § 2 Z 8 BWG" replaced.

11. In § 72 para. 3 Z 6 lit. a becomes the word "Business Reports" through the phrase "Annual accounts and annual reports" replaced.

12. In § 72 para. 3 Z 6 lit. b becomes the word "Business Report" through the phrase "Annual accounts and annual report" replaced.

13. In Section 72 (3) (7), the word order shall be deleted " , each in two copies " .

14. In § 72 (3), the Z 8 is deleted.

15. In § 72 (4), the word order is deleted "or by the procedure in accordance with § 75a" .

16. The headline before § 81a reads:

"Transparency rules"

17. The entry sentence in § 81a (1) reads:

" For the purposes of § § 81a to 95e, the following definitions shall apply:

18. § 81a (1) Z 4 reads:

" 4.

"Issuer" means a natural or legal person whose securities are admitted to trading on a regulated market. In the case of certificates admitted to trading on a regulated market, the issuer of the securities represented shall be considered to be the issuer, irrespective of whether those securities are admitted to trading on a regulated market or whether such securities are admitted to trading on a regulated market or not. "

19. § 81a (1) Z 7 reads:

" 7.

'Member State of origin' shall be

a)

in the case of issuers of debt securities with denominations of less than EUR 1 000 or an issuer of shares,

aa)

for issuers with registered offices in the EEA, the Member State in which the seat is located,

bb)

for issuers established in a third country, the Member State which the issuer chooses among the Member States in which its securities are admitted to trading on a regulated market. The choice of the home Member State shall remain valid until the issuer is in accordance with the procedure referred to in lit. c has selected a new home Member State and has published its election pursuant to Article 82 (8);

the definition of 'home Member State' shall apply to debt securities denominated in a currency other than euro if the denomination value on the date of issue is less than EUR 1 000, provided that it does not correspond to approximately EUR 1 000;

b)

for everyone not under lit. a falling issuer of the Member State which the issuer chooses under its host Member State and the Member States in which its securities are admitted to trading on a regulated market in its territory. An issuer may not select more than one Member State as the home Member State. The election shall be valid for at least three years, except where the issuer's securities are admitted to trading on no regulated market in the European Union or the issuer is subject to the provisions of lit. a or lit. c falls;

c)

for an issuer whose securities no longer participate in trading on a regulated market in its home Member State, according to lit. a sublit. bb or lit. b, but admitted to trading in one or more Member States, the new home Member State which is the issuer of the Member States in which its securities are admitted to trading on a regulated market and to the Member State in which it is established;

d)

in the case of an issuer who has failed to comply with his/her home Member State in accordance with lit. a sublit. bb or lit. b) within three months of the first-time admission of its securities to trading on a regulated market pursuant to § 82 (8a), the Member State in which the issuer's securities are admitted to trading on a regulated market. Where the issuer ' s securities are admitted to trading on regulated markets situated in or operated in more than one Member State, those Member States shall be the issuer's home Member States until such time as the issuer is has been selected by a single Member State of origin and communicated in accordance with Article 82 (8a). "

20. In § 81a (1) Z 9, the word order shall be " according to Z 7 lit. b elected home Member State " through the phrase " according to Z 7 lit. a sublit. bb, lit. b, lit. c or lit. (d) the chosen home Member State and the indication in accordance with § § 87 (6) and (89) " replaced.

21. § 81a (1) Z 15 reads:

" 15.

"Person" means a natural person or a legal person, including registered partnerships, without legal personality and investment funds in accordance with § 3 (2) Z 30 InvFG 2011; "

22. The following Z 16 shall be added to Section 81a (1):

" 16.

"Formal agreement" is a legally binding agreement. "

23. In § 81a (5) the word order shall be deleted "and § 93 (6)" .

24. The subsection of Section 82 (4) reads as follows:

" An issuer shall publish its annual financial report no later than four months after the end of each financial year, and shall ensure that it remains publicly available for at least ten years. The annual financial report shall include:

Section 82 (8) reads as follows:

" (8) The publication according to paragraph 4, § 48d, § 87 (1) and (6), § 89 and § 93 (1) to (5) as well as the indication of the article according to § 81a (1) Z 7 lit. a sublit. bb, lit. b, lit. c or lit. (d) the chosen home Member State shall be made through an electronic information dissemination system, which shall be distributed at least within the European Union. The information dissemination systems that meet these requirements are determined by the FMA regulation. "

26. In accordance with § 82 (8), the following paragraph 8a is inserted:

" (8a) The issuer has its own pursuant to § 81a (1) Z 7 lit. a sublit. bb, lit. b, lit. c or lit. d the chosen home Member State shall be notified in compliance with § § 85 and 86. In addition, the issuer must communicate its home Member State to the competent authority of its host State or to the competent authority of the chosen home Member State and to the competent authorities of all host Member States. "

27. § 86 (1) penultimate and last sentence are deleted.

28. According to Article 86 (1), the following paragraph 1a is inserted:

"(1a) Access to the storage system of the OeKB shall also be made via the European electronic access portal."

29. In § 86 (6) (8) (8), the point shall be replaced by a line-point and the following Z 9 shall be added:

" 9.

to arrange for the responsible natural or legal person to cease the conduct of the infringement, to establish the lawful condition and to refrain from repeating it. '

30. § 87 (1) first sentence reads:

" An issuer of shares or debt securities shall publish a half-yearly financial report for the first six months of the financial year without delay, but no later than three months after the end of the reporting period, and to ensure that the issuer Report shall remain open to the public for at least ten years. "

31. § 87 (6) reads:

" (6) If the trading conditions of the stock exchange company which operates a regulated market provide that this regulated market is broken down into more than one market segment, the provisions of paragraphs 1 to 5 shall not preclude a requirement by means of which the market share of the market segment is not subject to the conditions of the market. Stock exchange companies require the issuers of the market segment with the highest requirements to publish quarterly reports. The contents, time limits and other publication requirements shall be stated in the General Terms and Conditions of the Exchange Company. However, they may not be more stringent than those under IAS 34. "

32. § 89 together with the title is:

" Report on payments made to public authorities

§ 89. Issuers who produce an annual report according to § 243c UGB or belong to a group that produces an annual consolidated report according to § 267b UGB shall have these reports of payments made by issuers or by the To publish at the latest six months after the end of each financial year, no later than six months after the end of each financial year, group undertakings operating in the extractive industries or in the field of logging in primary forests, and to ensure that these reports remain open to the public for at least ten years. "

Section 90 (1) Z 1 reads as follows:

" 1.

Central States, regional authorities, international public service bodies to which at least one Member State is a member, the European Central Bank (ECB), the European Union established by the EFSF Framework Agreement Financial Stability Facility (EFSF) and any other mechanism created to ensure the financial stability of the European Monetary Union by providing temporary financial assistance to Member States whose currency is the euro , and the national central banks of the Member States regardless of whether they issue shares or other securities and "

34. In § 91 (1), last sentence, the word order is deleted " that follows the day " .

Article 91 (2) reads as follows:

" (2) (1) does not apply to shares which are acquired exclusively for the purpose of settlement and settlement of transactions within the usual short billing cycle, nor to depositaries who hold shares only as depositaries, provided that the depositary may exercise the voting rights from such shares only on the basis of instructions given in writing or via electronic means. Paragraph 1 shall also not apply to the acquisition or disposal of a significant holding, in so far as it provides a threshold as defined in paragraph 6 or the thresholds of 4 vH or 5 vH or more by a market maker in the market. Property is reached, reached, exceeded, or undershot, provided

1.

it is authorised in its home Member State in accordance with Directive 2004 /39/EC, and

2.

it does not intervene in the management of the issuer concerned and does not exercise any influence on the issuer in order to buy the shares in question or to support the share price. "

Article 91 (2a) reads as follows:

" (2a) Voting rights which a credit institution, a credit institution group or an investment firm could exercise in the trading book under Article 102 of Regulation (EU) No 575/2013 shall not be counted for the purposes of this paragraph, provided that:

1.

the share of voting rights held in the trading book is not higher than 5 vH and

2.

the voting rights of shares held in the trading book shall not be exercised and shall not be used otherwise in order to intervene in the management of the issuer. "

37. In accordance with Article 91 (2a), the following paragraph 2b is inserted:

" (2b) Voting rights of shares acquired in accordance with Regulation (EC) No 2273/2003 for stabilization purposes shall not be counted for the purposes of this paragraph, provided that the voting rights of those shares are not exercised and are not uses otherwise in order to intervene in the management of the issuer. "

38. § 91a (1) (1) (1) reads:

" 1.

the holder at maturity in the context of a formal agreement

a)

give the unconditional right to acquire shares of an issuer which are connected and have already issued voting rights, the shares of which are admitted to trading on a regulated market; or

b)

give a discretion in relation to its right to acquire those shares

or "

39. § 91a (1), (2) and (4).

40. § 91a (1) Z 3 reads as follows:

" 3.

do not fall under Z 1, but relate to such shares and have a comparable economic effect as the instruments mentioned in Z 1, whether or not they are entitled to physical settlement. "

41. § 91a (2) reads:

" (2) The number of voting rights referred to in paragraph 1 shall be calculated by reference to the full nominal number of shares on which the financial instrument is based, unless the financial instrument provides for a cash compensation only; in this case, the number of voting rights shall be calculated on a delta-adjusted basis, multiplying the nominal number of underlying shares by the delta of the financial instrument. Article 91 (2), (2a) and (3) shall apply. "

Section 91a (3) reads as follows:

" (3) In the case of a number of the financial instruments referred to in paragraph 1 on shares of the same issuer, the voting rights arising from these shares shall be combined. The calculation of the voting rights only applies to employment positions which are not charged with disposal positions relating to one and the same issuer. "

43. § 91a (5) to (7).

(44) The following paragraph 8 is added to § 91a:

"(8) The exceptions referred to in § § 91 (2) and 92a (2) and (3) shall apply in accordance with the notification obligations."

45. In accordance with § 91a, the following § 91b with title is inserted:

" Aggregation

§ 91b. (1) The notification obligations in accordance with § § 91, 91a and 92 shall also apply to a person, if the number of voting rights held directly or indirectly by that person in accordance with § § 91 and 92, together with the number of voting rights, which are directly or indirectly or indirectly held financial instruments pursuant to § 91a, which reaches, exceeds or falls below the thresholds laid down in Article 91 (1). The communication shall be broken down by the number of all voting rights.

(2) The voting rights already communicated in accordance with Section 91a shall be communicated again if, by acquiring shares, the total number of voting rights in shares of one and the same issuer reaches or exceeds the thresholds in accordance with Section 91 (1). "

46. § 92 Z 3 reads:

" 3.

voting rights in shares in which this person is granted a right of fruit consumption; "

47. § 92 Z 5 reads:

" 5.

Voting rights held by a third party in its own name for the account of this natural or legal person. "

48. The subsection of Section 92a (1) reads as follows:

" The ad according to § 91 in conjunction with § § 91a, 91b and 92 shall represent all shares held or attributable to the issuer, financial instruments or other comparable instruments broken down by a breakdown. This shall also apply if, since the last notification, individual reporting levels have not been reached, exceeded or fallen below the reporting thresholds set out in § 91 (1). The display shall contain the following information: "

49. § 92a (1) (1) (1) reads:

" 1.

the number of voting rights and their percentage after the acquisition or divestment and the threshold which is reached, above or below the threshold; "

Section 92a (1) Z 3 reads as follows:

" 3.

the date on which the threshold was reached, exceeded or fallen below; "

51. § 92a (1) Z 5 reads:

" 5.

in the case of § 91a, the number of shares to which the financial instruments relate, a breakdown of the individual instruments contained therein, the indication of the date or the period in which the shares are acquired, or and, in the case of section 91a (1) (3), the duration of the financial instrument; "

52. § 92a (1) (6) deleted.

53. § 93 (6) is deleted.

54. § 94 Z 2 is deleted.

55. In accordance with § 95, the following § 95a with headline is inserted:

" Penal Provisions

Section 95a. Who

1.

, as an issuer, a reporting, publication or application obligation in accordance with § § 82 to 89 or regulations adopted pursuant to these provisions does not or does not comply in good time, or

2.

no notification or publication obligation pursuant to sections 91 to 94 or regulations issued pursuant to these provisions shall be fulfilled or not fulfilled in due time;

shall be subject to an administrative surrender and shall be punished by the FMA with a fine of up to 2 million euros or up to two times the benefit drawn from the infringement, insofar as this may be quantified. "

56. In accordance with § 95a the following § § 95b to 95d are inserted:

" § 95b. (1) The FMA may impose financial penalties on legal persons if persons who have acted either alone or as part of an organ of the legal person and have a leading position within the legal person on the basis of

1.

the power to represent the legal person,

2.

the power to take decisions on behalf of the legal person, or

3.

an authority of control within the legal person

, in the event that the act does not constitute a criminal offence within the jurisdiction of the Courts, in breach of the obligations referred to in Article 95a.

(2) Legal persons may also be held liable for breaches of the obligations referred to in § 95a if lack of supervision or control by a person referred to in paragraph 1 is committed to the commission of such violations by one for the The person acting on a legal person has made it possible, provided that the action does not constitute the offence of a criminal offence within the jurisdiction of the courts.

(3) The financial penalty referred to in paragraphs 1 and 2 shall be up to ten million euros or 5 vH of the total annual net turnover in accordance with paragraph 4 or up to two times the benefit drawn from the infringement, insofar as it is possible to quantify the amount.

(4) The total annual net turnover in accordance with paragraph 3 shall be the total amount of all the income referred to in Annex 2 to Section 43 of the Federal Elections Act in respect of credit institutions, less the expenses referred to therein; the undertaking shall be a Subsidiary, shall be subject to the annual total annual net turnover shown in the consolidated accounts of the parent company at the top of the group in the previous financial year. For other legal entities, the total annual turnover shall be decisive. To the extent that the FMA cannot determine or calculate the basis for the total turnover, it has to estimate it. Account shall be taken of all the circumstances which are of importance for the estimation.

(5) The FMA may depart from the punishment of a person responsible pursuant to § 9 of the VStG if an administrative penalty is already imposed on the legal person for the same infringement and there are no special circumstances which are subject to an abuding of the Punishing against punishment.

§ 95c. In determining the nature of the sanction or measure, the FMA has, in respect of infringements of the provisions of this Federal Act or against regulations or regulations adopted under this Federal Act, and in the assessment of the amount of a Fine, in so far as appropriate, in particular the following circumstances:

1.

The seriousness and duration of the infringement;

2.

the degree of responsibility of the responsible natural or legal person;

3.

the financial strength of the natural or legal person responsible, as shown, for example, from the total turnover of the responsible legal person or the annual income of the responsible natural person;

4.

the amount of the profits or losses incurred by the natural or legal person responsible, if they are to be quantified;

5.

the loss inflicted on third parties by the infringement, provided that it is quantified;

6.

the loss which has been generally inflicted on the functioning of the markets or the economy, provided that it can be quantified;

7.

the willingness of the natural or legal person responsible to cooperate with the competent authority;

8.

previous violations by the responsible natural or legal person, and

9.

in the event of a breach of the measures taken by the natural or legal person responsible for the infringement, in order to prevent the recurrence of such infringement.

This paragraph shall be without prejudice to the determination of the VStG.

§ 95d. In exercising its sanctioning powers pursuant to Articles 95a and 95b, the FMA shall cooperate closely with the competent authorities in other Member States in order to ensure that the supervisory and investigative powers and the powers of investigation and the administrative penalties may be effectively arranged or imposed. The FMA has to coordinate its actions with the competent authorities of the other Member States in order to avoid duplication and overlap in cases where the FMA exercises its supervisory and investigative powers across borders and in this framework, administrative sanctions and measures are imposed. "

57. In accordance with § 95d, the following § 95e and heading is inserted:

" Publications

§ 95e. (1) fines for infringements in accordance with § § 95a and 95b are by the FMA, including the identity of the persons concerned and the information on the nature and nature of the underlying infringement, and, where applicable, the remedies landed to be immediately known on the Internet. If an appeal is filed after the contract notice, the FMA has to amend the notice.

(2) The announcement pursuant to paragraph 1 shall be made on an anonymous basis, if a roll-call announcement is made

1.

of a sanctioned natural person would be disproportionate, or

2.

the stability of the financial markets of a Member State or of several Member States of the European Union, or

3.

the conduct of ongoing criminal investigations, or

4.

would cause disproportionate damage to the parties, provided that such damage can be determined.

If there are reasons for an anonymous publication in accordance with Z 1 to 4 and if it is to be assumed that these reasons will no longer be available in the foreseeable future, the FMA may depart from the acceptance of an anonymous publication and the Sanction after removal of the reasons according to Z 1 to 4 also announced in accordance with paragraph 1.

(3) The person concerned by a publication may request a review of the legality of the publication in accordance with paragraph 1 or 2 in a procedure to be carried out in a modest way with the FMA. In this case, the FMA has to make the introduction of such a method known in the same way. If, in the context of the review, the unlawfulness of the publication is determined, the FMA shall correct the publication correctly or, at the request of the person concerned, either withdraw it or remove it from the internet presence. If a complaint against a communication which has been disclosed in accordance with paragraph 1 or 2 is granted suspensive effect in proceedings before the courts of the courts, the FMA shall disclose this in the same way. The publication shall be correct or, at the request of the person concerned, either to be revoked or to be removed from the internet presence if the communication is cancelled. "

58. § 96 receives the sales designation "(1)" and the following paragraph 2 is added:

" (2) After the entry into force of the Federal Law BGBl. I n ° 98/2015 shall be subject to the following transitional provisions:

1.

(To § 81a (1) (7))

For issuers whose securities are already admitted to trading on a regulated market and who have the choice of their home Member State in accordance with § 81a (1) Z 7 lit. a sublit. bb or lit. b not prior to 27 November 2015, the period of three months shall begin on 27 November 2015.

2.

(To § 81a (1) (7))

Issuers who have a home Member State in accordance with § 81a (1) Z 7 lit. a sublit. bb, lit. b or lit. c select and have their choice communicated to the competent authorities of the home Member State before 27 November 2015, shall be subject to the obligation pursuant to Section 81a (1) Z 7 lit. (d) unless the issuers concerned choose a different home Member State after 27 November 2015.

3.

(To § 82 (4))

From the 1st All annual financial reports pursuant to Section 82 (4) shall be drawn up in a uniform electronic report format in January 2020, provided that the FMA has announced on its website that the documents referred to in Article 4 (7) of Directive 2013 /50/EU The cost-benefit analysis to be carried out by ESMA shall be carried out.

4.

(To § 86 (1a))

The OeKB shall have access to its storage system via the European electronic access portal at the latest from 1 January 2008. Jänner 2018. "

Article 96a (3) reads as follows:

"(3) In the case of administrative transgressions in accordance with § § 48, 48c and 95a, a limitation period of 18 months shall apply in place of the period of limitation in accordance with § 31 paragraph 1 VStG."

(60) The following paragraphs 7 and 8 are added to § 101a:

" (7) Where reference is made in this Federal Act to Directive 2011 /61/EU, unless otherwise provided, Directive 2011 /61/EU on Alternative Investment Fund Managers and amending Directives 2003 /41/EC and 2009 /65/EC and Regulations (EC) No 1060/2009 and (EU) No 1095/2010, OJ L 145, 31.5.2009, p. No. 1, as last amended by Directive 2014 /65/EU, OJ L 175, 5.7.2014, p. No. OJ L 173 of 12.0602014 p. 349.

(8) Where reference is made in this Federal Act to Directive 2013 /50/EU, unless otherwise arranged, Directive 2013 /50/EU amending Directive 2004 /109/EC on the harmonisation of transparency requirements in relation to Information about issuers whose securities are admitted to trading on a regulated market, Directive 2003 /71/EC on the prospectus to be used in the public offer of securities or to be admitted to trading on a regulated market , and to Commission Directive 2007 /14/EC Detailed rules for the application of certain provisions of Directive 2004 /109/EC, OJ L 327, No. OJ L 294, 06.11.2013 p. 13. '

61. Before § 102, the title reads:

"Entry into force"

62. The following paragraph 42 is added to § 102:

" (42) § 3 (1) Z 6, § 15 (5), § 48 (1) and 3b (2), § 66 (5) Z 3, § 67 (5), § 70, § 71, § 72 (3) and (4), the title of § 81a, the first sentence of Section 81a (1), § 81a (1), Z 4, 7, 9, 15 and 16 together with the title, § 81a (5), § 82 Paragraph 4, 8 and 8a, § 86 (1a) and 6 (8) and 9 (87) (1), first sentence and (6), § 89, including the title, § 90 (1) (1) (1), (91) (1), (2), (2a) and (2b), 91a (1) (1) and (3), 91a (2), (3) and (8), Section 91b (including the title), Section 92 (3) and (5), of the Introductory part of § 92a (1), § 92a (1), (1), (3) and (5), § 95a, including the title, § § 95b to 95d, § 95e, including the title, § 96 (1), § 96 (2) (2) (1) to (4), § 96a (3), § 101a (7) and (8), and the Title before § 102 in the version of the Federal Law BGBl. I n ° 98/2015 will enter into force on 26 November 2015. "

63. In accordance with § 102, the following § 103 shall be added together with the heading:

" External Force

§ 103. § 48 (1) (6) and (9), Section 72 (3) (8), Section 86 (1) of the penultimate and final sentence, § 91a (1) (2) and (4), Section 91a (5) to (7), Section 92a (1) (6), (6) and (94) (2) (2) shall expire on the expiry of 25 November 2015. "

Article 2

Amendment of the Capital Market Act

The Capital Market Act-KMG, BGBl. N ° 625/1991, as last amended by the Federal Law BGBl. I No 184/2013, shall be amended as follows:

1. § 1 (1) Z 12 lit. c is:

" (c)

for all third country issuers of securities that are not in lit. (b), depending on the choice of the issuer, the offeror or the person applying for admission, either the EEA State Party, in which the securities for the first time after the 01. or the EEA State Party where the first application for admission to trading on a regulated market is to be made subject to a subsequent election by the third country issuer

aa)

where the Member State of origin has not been determined in accordance with its choice, or

bb)

in the cases referred to in Article 81a (1) (7) (7). a sublit. bb BörseG. "

2. § 3 (1) Z 4 reads:

" 4.

Shares of investment funds according to § 3 paragraph 2 Z 30 of the investment fund law 2011-InvFG 2011, BGBl. I n ° 77/2011, and shares in accordance with § 1 of the Real Estate Investment Fund Act-ImmoInvFG, BGBl. I No 80/2003, as well as open AIF, which fulfil the conditions laid down in Article 1 (2) of the delegated regulation (EU) No 694/2014 supplementing Directive 2011 /61/EU with regard to technical regulatory standards for the determination of the types of liquidator alternative investment fund, OJ L 327, No. OJ L 183, 24.06.2014 p. 18; "

3. The final part of Section 7 (4) reads as follows:

" The information provided in the base prospectus shall be supplemented, if necessary, by updated information on the issuer and on the securities which are to be offered to the public or admitted to trading on a regulated market, in accordance with § 6. If the final terms and conditions of the offer are not included in the base prospectus or in a supplement, they shall be made available to the investors and shall be charged to the FMA or to an appropriate remuneration for this purpose by the FMA to deposit and communicate to the competent authority of the host Member State or to the competent authority of the competent authority of the host Member State, as soon as a public offer is submitted, and to be notified by the FMA or the FMA to the appropriate remuneration, and the transmission, deposit or notification is practicable, and this, if possible, before the beginning of the offer or admission to trading. If the FMA is the competent authority, it shall notify ESMA of the final terms and conditions. The final conditions shall contain only information relating to the description of the securities and shall not be used to supplement the basic prospectus. The emission volume and the emission price shall be either included in the final conditions or shall be explained in the final terms within the meaning of paragraph 5 (1). "

4. § 10 para. 3 Z 3 becomes the word "and" by the word "or" replaced.

5. In § 13 (1), after the word "Assessments" the phrase "domestic" inserted.

6. The subsection in § 16 reads:

" If the action does not constitute the offence of a criminal offence within the jurisdiction of the courts, an administrative surrender shall be committed and shall be punishable by the FMA with a fine of up to EUR 100 000, who in connection with an offence shall be subject to a penalty of public offer of securities or investments which are subject to prospectus pursuant to this Federal Act or in connection with the admission to the regulated market (§ 74 BörseG), "

7. The following paragraphs 5 and 6 are added to § 18:

" (5) Where reference is made in this Federal Act to Directive 2003 /71/EC, unless otherwise provided, Directive 2003 /71/EC, as amended by Directive 2010 /73/EU, amending Directive 2003 /71/EC concerning the Prospectus to be published when securities are offered to the public or admitted to trading, and amending Directive 2001 /34/EC (OJ L 197, 21.7.2001, p. No. 64), as amended by Directive 2010 /73/EU, OJ L 345, 31.12.2003, p. No. OJ L 327, 11.12.2010 p.1.

(6) Where reference is made in this Federal Act to Directive 2014 /51/EU, unless otherwise provided, Directive 2014 /51/EU amending Directives 2003 /71/EC and 2009 /138/EC and Regulations (EC) No 1060/2009, (EU), No 1094/2010 and (EU) No 1095/2010 as regards the powers of the European Supervisory Authority (European Insurance and Occupational Pensions Authority) and the European Supervisory Authority (European Supervisory Authority) (European Supervisory Authority) (European Supervisory Authority) (European Supervisory Authority) Document and market surveillance authority), OJ C 327, 28.4.2002, p. No. L 153 of 22.05.2014 p. 1. "

8. The following paragraph 20 is added to § 19:

" (20) § 1 para. 1 Z 12 lit. c, § 3 para. 1 Z 4, the final part of § 7 para. 4, § 13 para. 1, § 10 paragraph 3 Z 3, the inversion section in § 16 as well as § 18 para. 5 and 6 in the version of the Federal Law BGBl. I n ° 98/2015 will enter into force on 26 November 2015. "

Article 3

Amendment of the Accounting Control Act

The Accounting Control Act-RL-KG, BGBl. I No 21/2013 shall be amended as follows:

1. § 1 (1) first sentence reads as follows:

"The FMA is a supervisory authority for compliance with accounting rules by companies whose home Member State is Austria according to § 81a (1) (1) (7) Austrian Stock Exchange Act."

2. § 17 receives the sales designation "(1)" and the following paragraph 2 is added:

" (2) § 1 para. 1 first sentence in the version of the Federal Law BGBl. I n ° 98/2015 will enter into force on 26 November 2015. "

Fischer

Faymann