On Some Interim Measures On How To Trading On The Stock Exchange Of Moldova Allowances Held In The Capital Of Banks

Original Language Title: cu privire la unele măsuri provizorii privind modul de tranzacționare la Bursa de Valori a Moldovei a cotelor deținute în capitalul unei bănci 

Read the untranslated law here: http://lex.justice.md/index.php?action=view&view=doc&lang=1&id=364346

on some interim measures on how
trading on the Stock Exchange of Moldova shares held in the capital of a bank



Posted: 01/04/2016
in the Official Gazette

Nr. 79-89
Article Number: 471

Order to ensure consistent enforcement of the provisions of art. 15 (3) and 156, par. (2) of the Law on financial institutions no.550-XIII of 21.07.1995 (republished in the Official Gazette of the Republic, 2011 nr.78-81, art.199) (hereinafter - the Law on financial institutions) in order to maintain financial market stability and policing in the capital market, under Article 1. (1), Article 3, art. 8 b) and letter t), article 9 para. (1) d), art. 21 (1), Article 25 para. (2) of Law No. 192-XIV of 12.11 .1998 "on the National Commission of Financial Market" (republished in the Official Gazette of the Republic of Moldova, 2007, nr.117-126 BIS), Article 1. (2), Article 5, Article 62 para. (2) d) of Law no. 171 of 11.07.2012 "On the capital market" (Official Gazette of the Republic of Moldova, 2012, no. 193-197, art. 665), art. 11 (6) c) of the Law nr.1134-XIII of 04.02.1997 "on stock companies" (republished in the Official Gazette of the Republic of Moldova, 2008, no.1-4, article 1) art.41.4 d) of the rules of the stock Exchange regulated market of Moldova, Council approved the Stock Exchange of Moldova from 22/04/2015 and accepted by the National Commission of Financial Market Decision No.23 / 3 of 05.08.2015 (Official Gazette of the Republic of Moldova, 2015 nr.115-123, art.758)

NATIONAL FINANCIAL MARKET COMMISSION DECIDES
:

1. Allow Stock Exchange of Moldova arrangement of transactions for the sale of securities through direct negotiations, subject to art. 15 (1) b) of the Financial Institutions Act, with their qualification by the National Commission of Financial Market special transactions.
2. The securities referred to in paragraph 1 of this decision can be traded through:
a) outcry auctions, in accordance with Regulation on the organization and execution of transactions with unique packages of securities on the regulated market of the Stock Exchange of Moldova accepted by National Financial Market Commission Decision No. 47/6 of 12.8.2015 (Official Gazette of the Republic of Moldova, 2015 nr.224-233, art.1441);
B) market order in accordance with the Rules of the Stock Exchange regulated market of Moldova.
March. The alienation of shares under item 2 a) of this decision, notwithstanding the provisions of paragraph point 3.1. (1) and pct.3.2 of Regulation on the organization and execution of transactions with unique packages of securities on the regulated market of the stock exchange Exchange of Moldova, the demand for the sale of any single package (regardless of size) may be made to the Stock Exchange of Moldova no later than 12.00 of the day a-3 tender period is at least 60 days.
4. The alienation of shares in accordance with item 2 of this decision, the Stock Exchange of Moldova and investment firms will brief potential investors about the existence of mandatory restrictions imposed by law on financial institutions.
May. Control over the execution of this decision is entrusted with Surveillance Directorate General Securities.
June. This decision shall enter into force in accordance with art. 22 para. (3) of Law No. 192-XIV of 12.11.1998 "On the National Commission of Financial Market".


COMMISSION VICE NATIONAL FINANCIAL MARKET Iurie FILIP