Key Benefits:
Law on the registration of financial instruments (value paper registry law) |
| Date | LO-2002-07--05-64 |
| Ministry of | Treasury |
| Last modified | LAW-2015 -06-19-65 from 01.10.2015 |
| Published | In 2002 booklet 7 |
| Istrontrecation | 05.07.2002, 1:01.2003 |
| Changing | |
| Announcement | |
| Card title | The value registry law-vprl. |
Jf. former law on Valuable paper central of 14 June 1985 # 2.
The law's purpose is to add right for secure, orderly and effective registration of financial instruments and rights in such instruments with the judicial effects that are determined in this law.
A value paper registry shall determine the rules of the business in accordance with the provisions of this Act. The rules should be approved by the SEC.
| 0 | Modified by law 19 June 2009 # 48 (ikr. 21 des 2009 ifg res. 18 des 2009 # 1603). |
With the securities registry of this law, in this law enterprise with the permission of this law is permitted to drive registration of financial instruments.
The following financial instruments shall be introduced into a value paper registry as mentioned in Section 3-1 :
| 1. | stock and drawing rights in Norwegian general stock companies, and |
| 2. | Norwegian ihendehaverbonds. |
The Ministry of Justice can in regulation give closer rules about duty to impose financial instruments in a value paper registry, herunder rules that precision, expanding and indutiate duty after the first clause.
Other financial instruments as mentioned in the securities trading law Section 2-2 can be introduced into a value paper registry, with the judicial effects that follow by this law ; the Ministry may decide that the registration of rights in some financial instruments is not shall be given the judicial effects as follows by this law ; the Ministry of Law may in regulation determine that other formauesobjects can be introduced into a value paper register.
Introduction after the first clause cannot happen if a document has already been issued that represents the financial instrument in a way that can come in violation of what follows by this law. Introduction after the first clause can still happen if such document maculates, placed in secure detention or otherwise secured against coming in revenue. When the financial instrument is instituted in a value paper register, no longer document has been mentioned in the first period of judicial effects that may come in violation of this law. The Ministry may provide further rules on the summons of documents by transition to the introduction of a value paper register.
Introduction after the first clause cannot happen if the financial instrument has already been introduced into a different Norwegian securities registry, or in a foreign register with judicial effects that may come in violation of what follows by this law. Introduction to the violation of the determination in the first period is without the legal effects after Chapter 7.
| 0 | Modified by law 29 June 2007 # 75 (ikr. 1 nov 2007 ifg. res. 29 June 2007 # 752). |
Unless otherwise determined in or in co-hold of law, the issuer of financial instruments decides whether these should be introduced into a value paper register. Valuable paper registers should determine closer rules about who should be considered issuer.
A value paper registry cannot deny the introduction unless the registry's enterprise area according to the ordinance is limited or the registry of the otherwise has been mainly due to necrotion.
The Verdi Paper Registry determines rules about the introduction of the registry and whether the procedure in which a financial instrument should no longer be introduced into the value paper registry.
The business that consists in the registration of financial instruments with the effects determined in this law can only be driven by enterprises with permission from the ministry. Permission can only be given if owners of significant ownership shares are suitable. The rules of equity assessment at the erstice of ownership share in Section 5-2 apply accordingly.
A value paper registry should be organized as a general public company, and shall meet the requirements that follow by this law.
Other clauses do not apply to foreign value paper registries that meet requirements in rules provided by the ministry.
| 0 | Modified by law 20 June 2014 # 29 (ikr. 1 July 2014 ifg ordinance 26 June 2014 No. 866). |
The application of permission shall contain the information that is of significance for the application of the application and which show that the legislis requirements are met. The Ministry can request further information.
Attaches permission shall be co-shared the applicant as soon as possible and only six months after the application was received. If the application does not contain the information necessary to determine whether permission should be granted, the deadline is counted from the time that such information was received.
Part Article SECTION 3-3. Change and callbacks of permissionThe Ministry can completely or partially change, herunder set new terms for, or recall permission to drive the value paper register if :
| 1. | The value paper registry does not make use of the permit within twelve months, expressly waived the permit, or has been appointed to run the registry for more than six months, |
| 2. | The value paper registry has received the permission by using incorrect information or other irregularities, |
| 3. | The value paper registry no longer meets the terms required for the permission, |
| 4. | The value paper registry makes serious or systematic violations of regulations granted in or in co-law, |
| 5. | migrant relationships with the value paper registry give reason to fear that a continuation of the business can damage public interests, or |
| 6. | The value paper registry does not raise the injunction granted by the SEC. |
| 0 | Modified by law 19 June 2009 # 48 (ikr. 21 des 2009 ifg res. 18 des 2009 # 1603). |
A value paper registry to exercise business abroad by establishing subsidiary or branch shall report this to the SEC.
| 0 | Modified by law 19 June 2009 # 48 (ikr. 21 des 2009 ifg res. 18 des 2009 # 1603). |
A value paper register shall have a rule with at least five members. The general manager cannot be a member of the board of directors.
Board members, general manager and others who actually participate in the management of the securities registry should have relevant qualifications and professional experience, have an honourable vandel and for the otherwise not having expelled unassuming behavior that gives reason to assume the position or the enlisted will not be able to be able to be properly served.
The Verdi Paper Register shall provide the SEC's message by the change of the board of directors, changing of daily manager or other people who actually participate in the management of the business. The message is to be barely provided in advance, and contain necessary information on qualifications, occupational experience, vandel, as well as the positions or position in other business. The SEC may give the injunction that the change should not be committed if the change can be assumed to cause the requirements in other clauses not met.
People who mentioned in the first clause should put ordinary police reference after the police registry law Section 40.
| 0 | Modified by laws 19 June 2009 # 48 (ikr. 21 des 2009 ifg res. 18 des 2009 # 1603), 22 June 2012 # 35 (ikr. 1 July 2014 ifg res. 22 June 2012 No. 1 566 and res. 13 des 2013 # 1449). |
The Verdi Paper Register shall have the control committee of at least three members selected by the General Assembly. The control committee shall be supervising that the enterprise follows laws, regulations and consession terms, as well as ordinance and ordinance hit by the enterprise's organs, and shall assess security conditions at the business. The General Assembly shall determine the instruction of the Control Committee. The instruction is to be approved by the SEC. The control committee is to give message to the General Assembly and the SEC about his work. The SEC can provide further regulation on the composition of the and business of the securities regimes of the Control Committee.
| 0 | Modified by law 19 June 2009 # 48 (ikr. 21 des 2009 ifg res. 18 des 2009 # 1603). |
The range of paper registry documents and changes in these shall be approved by the ministry. The Ministry can provide regulation on the ordinance of the ordinance.
The board shall determine Internet control guidelines and recertain that the Internet of Internal Affairs is established, and documented in a defensible manner in accordance with the management's guidelines and cuts. The SEC can provide regulation with closer regulations on internal control.
The general manager shall ensure that Internet control is established and carried out in accordance with law and regulations. The same applies to the management of the Board of Policy and the injunction.
The board shall determine employee guidelines and peer-to-peer-held trading with financial instruments and for employee and peer-of-trust constituted habitability. The board shall also determine employee guidelines and peer-to-peer-level of the Board of Directions of the Board of Companies that have introduced financial instruments in the value paper registry.
The Ministry of Justice can in regulation give closer rules about those relationships as mentioned in other and third joints.
| 0 | Modified by law 19 June 2009 # 48 (ikr. 21 des 2009 ifg res. 18 des 2009 # 1603). |
A value paper registry is going to any time have a responsible capital that is justifiable from the scope and the risk of enterprises business. The Ministry of Justice can in regulation give closer rules about what should be considered as enterprises responsible capital, as well as about minimum requirements of responsible capital.
Attackend of the event of an essential part of the enterprise's consession of the enterprise is to be met by the General Assembly with the majority as for the ordinance change. The Ministry decides in doubt whether an avevent includes an essential part of the context of the consession liquidating business.
Attaches as mentioned in the first clause and the ordinance of merger and fission of the enterprise after the Public Affairs Act shall co-share the ministry. The Ministry of Justice can within three months from the day message received deny merging, sharing or event, as well as set terms for the completion of the transaction or change the session of the consession that has been. Attaches as mentioned in the first period cannot be performed until the expiration of the period mentioned in the second period.
In addition to the value paper registration, a value paper register can only drive other business that has natural context of value paper registration and that does not weaken the trust of the value paper registry's integrity and independence. The Ministry of Justice can in regulation give closer rules and hit single-pass regulations on which business a value paper registry can drive.
The SEC can impose the enterprise to drive associated business as mentioned in the first clause of its own enterprise. Other contextual business is supposed to always be driven in separate enterprise.
A value paper registry may not be participant in any other enterprise with unlimited liability for enterprise obligations, have assets in other nutrients or have such influence as mentioned in the general public law Section Section 1-3 other clause, if this weakens value paper registry's integrity and independent position.
| 0 | Modified by law 19 June 2009 # 48 (ikr. 21 des 2009 ifg res. 18 des 2009 # 1603). |
The Erstice that leads to the server's owner becomes the owner of a significant ownership stake in a value paper register requires permission from the ministry. With significant ownership share, directly or indirect ownership share that represents at least 10 percent of the stock market or the votes, or as otherwise makes it possible to exercise significant influence over the management of the company. Equent with the erververse's own stock, shares are considered shares that are verves or owned by the erververts close. The Verdict Trade Act Section 2-5 applies to the equivalent of who is considered close-up. Similar to owning stocks after the first to third period, the erstice of the right to become owner of stock when this must be considered real stock ownership.
Any erstice that increases the ownership share so that this directly or indirectly exceeds 20, 30 or 50 percent of the stock price or votes in a value paper register, requires permission from the ministry. The first clause third to the fifth period applies to the equivalent.
Sikad about permission after first and other clause is passed in particular for each shareholder that at acquired directly or indirectly gets an ownership share in the value paper registry that constitutes or exceeds 10, 20, 30 or 50 percent. The enlisting significant ownership stake by the rules in the first and second clause shall provide ordinary police reference after the police registry law Section 40 if the SEC asks for it.
Permission after the first and other clause can only be given when the erver is deemed suitable to ensure a good and sensible management of the enterprise. By this assessment, it is supposed to be placed emphasis on :
| a) | the ververts earlier shopping manner, |
| b) | the ververts available financial resources and the envision of the defensible business, |
| c) | whether ownership will be able to lead to unwanted effects for the financial market behavior, or for the value paper registry's function as the rights register, |
| d) | the possibility of exercising an effective supervision, herunder whether it is established cooperation with the Regulators of the erververts homeland, |
| e) | whether ownership will be able to affect rights and duties of the players of the value paper registry, |
| f) | whether the back-lying ownership structure of the erverer is in accordance with the purposes of consideration as the provision of this provision, |
| g) | whether it is reason to assume that in connection with acquired is going on or is being made to the money laundering or funding of the terror business, or that acquired will increase the risk of this. |
Sikad about permission after the first and second clause shall be submitted the SEC with copy to the ministry.
At the event of stocks such that the ownership share comes under the limits after the first and second clause, it shall be given message to the SEC.
The Ministry decides in doubt whether near-standing stocks should be equal to the erverer's own stock after the first clause of the third and fourth period, jf. else clause other periods.
The Ministry of Justice can in regulation give closer rules on the content of the application as mentioned in the fifth clause, rules of the application, as well as rules of duty of the securities registry to give message of owners of significant ownership shares in the enterprise, and about duty of legal persons who have significant ownership shares in a value paper register, to give message of who are part of the board and management.
| 0 | Modified by laws 19 June 2009 # 59 (ikr. 1 July 2009 ifg res. 19 June 2009 # 691), 19 June 2009 # 48 (ikr. 21 des 2009 ifg res. 18 des 2009 # 1603), 22 June 2012 # 35 (ikr. 1 July 2014 ifg res. 22 June 2012 No. 1 566 and res. 13 des 2013 # 1449), 20 June 2014 # 29 (ikr. 1 July 2014 ifg ordinance 26 June 2014 No. 866). |
If a shareholder has acquired shares without the required permission after Section 5-2, the ministry may determine a due date to reduce the ownership share or seek the required permission. If this deadline is exceeded, the ministry can sell the stock. The rules of foreclosure of resettable securities apply as far as they fit. The Tvangsconsummation Act Section 10-6, jf. Section 8-16 does not come to the ancability. The stock owner should be notified that foreclosure will be made at the latest two weeks before the sale is conducted.
Until run-down or foreclosure has taken place, the stock owner for the share of the stock that exceeds the permitted level does not exercise other rights in the company than the right to raise dividends and to exercise the predation of capital raising.
| 0 | Modified by laws 19 June 2009 # 59 (ikr. 1 July 2009 ifg res. 19 June 2009 # 691), 20 June 2014 No. 29 (ikr. 1 July 2014 ifg ordinance 26 June 2014 No. 866). |
The Berrights to report registration is the one that according to the registry to be justified, or the one that resettlement the court has passed over to him.
The Entitled to report the deletion of literet or other hefty is the entitlement of the entitlement. Such purge can also happen if it is well-made that the privilege has been dropped away.
The issuer of a financial instrument is warranted to report the deletion of the instrument from the registry, if it is well-made that the financial instrument is heard to exist due to indation or other circumstances.
The Entitled to report registration is further any as by any other legislation has the right or authority to raise or transfer rights in or to financial instruments without the consent of the one mentioned in the first clause.
Unless otherwise determined in or in co-hold of law, financial instruments can be registered on individual accounts belonging to individual investors, or on stewards accounts for two or more investors. The registry duties to create investor or stewards accounts for registration of financial instruments that are introduced in the registry.
The value paper registry can in its rules determine that certain types of financial instruments should only be able to be registered on single accounts, and that it must be created separate accounts for specific purposes.
It shall progress by the registry that an account is a management account, and who will manage the account. The Caretaker must be approved by the SEC. The Ministry can provide regulation on approval and callbacks of the approval of trustee.
The Caretaker has the authority to advise over the attitudes of the account with binding effect on investor, and, by the way, with such judicial effects that are determined in Chapter 7.
Financial instruments belonging to the trustee cannot be registered on the management account as the stewards of the person. In relation to the rules of Section 6-8 and Section 8-2, the trustee is considered the holder of financial instruments on stewards account.
Prevalence duties to provide information on the real owners in the same scope and in the same way that the securities registry duties to provide information after Section 8-2 or other law, the Ministry can in regulation give closer rules about the steward's information-like and duty to retention of the information.
If a Norwegian Value Register is the trustee of a management account in another Norwegian Value Paper Register, the rules in chapter 7 are applicable to transfers between different beaters on the stewards account. The Ministry of Justice can give closer rules about this.
The Caretaker shall determine rules for when the trustee shall be deemed to have been notified of a court foundation after Section 7-5. The rules should be approved by the SEC.
| 0 | Modified by laws 20 June 2003 # 43 (ikr. 13 aug 2003 ifg Research. 13 aug 2003 No. 1 1044), 16 March 2007 # 11 (ikr. 16 March 2007 ifg res. 16 March 2007 # 272), 19 June 2009 # 48 (ikr. 21 des 2009 ifg res. 18 des 2009 # 1603). |
If someone manages a management account without approval after the Section 6-3 first clause, or approval is withdrawn, the SEC may require the account suspended. At the cordon, the trustee loses the right to preside over the financial instruments registered in the account, herders to receive payouts related to the financial instruments with liberating effect for the pay-off. The hold is not an obstacle to the completion of transactions approved by the SEC.
The first clause applies to the equivalent of if a trustee does not meet its duty to provide information after Section 6-3 fourth clause.
The Ministry of Justice can in regulation give closer rules on foreclosure of financial instruments registered on stewards accounts in the cases where the account is managed by someone without approval after Section 6-3 first clauses, or where trustee does not meet its duty after Section 6-3 fourth joints.
| 0 | Modified by laws 16 March 2007 # 11 (ikr. 16 March 2007 ifg res. 16 March 2007 # 272), 19 June 2009 # 48 (ikr. 21 des 2009 ifg res. 18 des 2009 # 1603). |
The value paper registry determines rules about the organization of the registration business, the use of external registry drivers, access to enrollments directly in the registry, requirements for documentation of identity, and full-size conditions.
The registry should correct errors in a registration if it finds that registration is incorrect.
The value paper registry can delete information from the rights registry if they are clearly without meaning.
Information that has been deleted from the rights registry should be retained for at least ten years.
The value paper registry should send message to rights hagants at any change in the registry that may have meaning to their rights, unless otherwise agreed. Corresponding applies to others who have reported a registration.
The value paper registry shall once a year send rights hazing an overview of their inventory of or rights in registered financial instruments. It is going to advance of the overview also other information that may have meaning to their rights.
The value paper registry determines closer rules about change messages and possession views.
The registry shall contain information on the financial instruments and about the possession of rights to these.
The Ministry provides regulation on what information after the first clause should be presented by the registry, and about how the information should be conjoined.
The Ministry of the Ministry can in regulation give rules about the value paper registry's settlement for registration services.
Part Article| 0 | The headline changed by law 16 March 2007 # 11 (ikr. 16 March 2007 ifg res. 16 March 2007 # 272). |
A registered privilege runs in front of a privilege that has not been registered or registered at a later time.
An older privilege goes without consideration of the first clause in front of a younger privilege, if the younger privilege is acquired by appointment and the erver of the younger privilege at registration known or should be known to the older privilege.
An older privilege goes without consideration of the first clause in front of a younger privilege, if the younger privilege is acquired by inheritance.
The rights registry shall determine rules for when a privilege is registered. The rules should be approved by the ministry.
When an entitlement acquired by agreement is registered after Section 7-1, the current against the erver cannot be made that the disposal of the registry was not in compliance with the registry's content. This does not apply if the erver was or should have been known with the disposal of the disposal of the right when the privilege was recorded. The first period does not apply to conflicts between colliding rights as mentioned in Section 7-1.
When an entitlement acquired by appointment is registered after Section 7-1, the issuers of other financial instruments may not be issued than stocks and foundation evidence to make current against the erver objections as mentioned in the debt letter law Section 15. The signing can still be made current if the collector was or should have been known with the issuer's inaction when the privilege was recorded. The debt letter law Section 18 applies to the equivalent.
The issuer can in any case make current objections as mentioned in the debt letter law Section 16 and 17.
The payment from a guilty plea to the person after the registry is entitled to receive payment at the time of the registry's content is liberating for the accusation, although the recipient did not have the right to accept payment. This does not apply if the accusation was or should have been known with the payment recipient's missing right when the payout took place.
Outpositions over financial instruments registered on stewards account in a value paper register with permission after Section 3-1 gets legal effects after Section 7-1 and 7-2 when the trustee gets message about the outline. The trial effects after Section 7-1 and 7-2 incomes only when trustee is approved after Section 6-3 first clause.
| 0 | Added by law 16 March 2007 # 11 (ikr. 16 March 2007 ifg res. 16 March 2007 # 272). |
| 0 | The headline changed by law 11 apr 2014 # 12 (ikr. 1 July 2014 ifg res. 11 apr 2014 # 547). |
Tiltrust chose, employees and auditor in a value paper register duties to prevent anyone from getting admission or knowledge of it as those in their work get to know about someone's business or personal relationships, if nothing else follows by this or other law. The same applies to others performing work or missions on behalf of a value paper register.
Tausheme's work also applies after the person has ended the service, the mission or enlisted.
Without the obstacle of the privilege of Section 8-1, the following about the right to obtain information from a value paper register :
| 1. | An account holder has the right to obtain any information that has been recorded in the account. |
| 2. | A mortgage or rights holder to another limited privilege registered on an account has the right to obtain any information recorded on the account that may have meaning for the privilege. |
| 3. | The courthouse and the nambudsman has the right to obtain informed which registered financial instruments belonging to a lawsuit, a guilt or a person who is deprived of legal action, and whether there are other limited rights in these. The court, the boards and leader of the debt-appointed court appointed by the court, has the right to obtain any information recorded about a bankruptcy of a bankruptcy, or if a deceased by the shift of insolvent estate, hernir all information on financial instruments that are introduced in the value paper registry. Corresponding is applicable to the head of the Management Board of the Financial Services institution appointed by the Treasury or the SEC. |
| 4. | Anyone has the right to obtain information that has been recorded about a financial instrument, unless otherwise follows by law or regulation. |
| 5. | If someone with home law in law has the claims and information contained in a value paper register, the person has the right to obtain these information from the value paper registry. |
| 0 | Modified by laws 30 aug 2002 # 67 (ikr. 1 jan 2003 ifg res. 30 aug 2002 # 938), 19 June 2009 # 48 (ikr. 21 des 2009 ifg res. 18 des 2009 # 1603), 26 March 2010 # 9 (ikr. 1 July 2013 ifg. res. 5 apr 2013 # 338) that changed by law 5 apr 2013 # 12. |
The SEC can determine that a value paper registry can provide information for use for research without the obstruction of secrecy after Section 8-1, when there is reasonable and does not involve unsustainable disadvantage for other interests.
To the ordinance mentioned in the first clause, there may be terms about among other who should be responsible for the information, and who should have access to them, about retention and reserving of the loan material, about the deletion of transcripts, about whether or not The researchers shall have access to addressing or obtain any further information on them that has been given information about, and about the use of information otherwise.
The desire for dispensation from the privilege of the co-clause of the first clause shall be submitted the value paper registry, which shall provide an added advice in the case of the SEC.
The king can give regulation to padding and review of the provisions of the paragrafen here.
| 0 | Added by law 11 apr 2014 # 12 (ikr. 1 July 2014 ifg res. 11 apr 2014 # 547), formerly Section 8-3 changed paragrafnumber to Section 8-5. |
Any performing service or work in connection with research as a value paper register in co-keeping of Section 8-3 first clause has provided information subject to secrecy to, duties to prevent others from being allowed access or knowledge of these information.
The information can only be used for research and in accordance with enlightened purposes and those terms that had to be determined after Section 8-3 other clauses.
Tausheme's work is not an obstacle to
| 1) | that the information is made known to them as the information directly applies, or to others in the extent that those who have the demands of silence consent, |
| 2) | that the information is used when the need for protection must be deemed protected by that they are given in statistical form, or by that individualizing characteristic is omitted differently. |
The Verdict Register shall before the issue of the information to make recipients of the information familiar with the privilege and penalty determination in Section 10-4 different periods. The value paper registry may require written statement that recipients of the information know and will comply with the rules.
The king can give regulation to padding and review of the provisions of the paragrafen here.
| 0 | Added by law 11 apr 2014 # 12 (ikr. 1 July 2014 ifg res. 11 apr 2014 # 547), formerly Section 8-4 changed paragrafnumber to Section 8-6. |
The value paper registry may require the settlement of the issue of information to account makers, rights havers and others, herders on the issue of change messages and possession views. This still does not apply to the information public authorities have claims in co-laws of law or regulation.
| 0 | Modified by law 11 apr 2014 # 12 (ikr. 1 July 2014 ifg res. 11 apr 2014 # 547), modified paragrafnumber from Section 8-3. |
Police should have electronic access to information in the Norwegian Value Paper register. Search in value paper registry should only occur out of the police need for information related to the prevention and the prevention of crime.
The SEC shall have electronic access to information in the Norwegian Value Paper register. Search in value paper registry should only occur out of the Financial Visibility's need for information in relation to probation tasks.
Norwegian regulated market should have electronic access to information in the Norwegian Value Paper register. Search in value paper registry should only occur out of Norwegian regulated market needs to monitor the market in accordance with the stock bill Section 27.
| 0 | Added by law 22 June 2012 # 35 (ikr. 1 July 2012 ifg res. 22 June 2012 No. 1 566), modified by law 11 apr 2014 # 12 (ikr. 1 July 2014 ifg res. 11 apr 2014 # 547), modified paragrafnumber from Section 8-4. |
The value paper registry is responsible for financial losses some incurred as a result of errors occurred in association with the registration business. This does not apply if the registry allowance makes the failure due to conditions outside the registry of the registry that the registry does not with the equitable could be expected to avoid or overcome the consequences of.
For other financial losses, the value paper registry is responsible if the loss is due to negligence from the registry's page or with any registry answers for.
Replacement responsibility as mentioned in the first clause includes only direct losses, and such liability is in any case limited to 500 million crowns for the same error.
The value paper registry's replacement liability after Section 9-1 is going to any time being covered by insurance or other warranty for the benefit of the third-person. The security standoff shall be approved by the SEC.
| 0 | Modified by law 19 June 2009 # 48 (ikr. 21 des 2009 ifg res. 18 des 2009 # 1603). |
Has skated even intentional or negligent or co-worked until the injury, the replacement can be unfolded or falling.
Claims for damages should be processed by the rules in Section 9-5. Replacement requirements should be conveyed to the value paper registry. It is not reached agreement between the parties concerning the claim, the case brought in for the complaint subject.
The Verdi Paper Registry shall create an independent complaint subject that processes complaints over decisions that have been hit by the value paper registry or a representative of the registry. The complaint shall be conveyed to the value paper registry. The value paper registry can even take the complaint to follow or provide suggestions for the solution to the complainant.
Rules of the complaints of the complaint and Assembly shall be determined by the value paper registry.
The complaint shall reject the complaint if the case the complaint applies is brought in for the courts.
Anyone with legal legal interest can complain. The complaint Board may decide that a complaint should not be taken during treatment, if it finds that the question the complaint raises should be made to the decision of the courts.
The complaint must be conveyed within three weeks from the day the complainant has or should have received knowledge of the relationship the complaint applies.
The complaint subject can after motion from the complainant beat the complaint to be registered in the same way as a limited privilege.
If someone has performed as a counterpart or can be considered the counterpart in the complaint case, the person as far as possible will be given the occasion of within reasonable time to comment before the complaint committee hits decision in the complaint case.
The message that a decision is to be submitted to all of registered rights in the financial instruments complaint applies if the complaint may have meaning for their rights. Corresponding message should be sent registered rights hagants and those who have performed as party in the complainants when this one is settled.
The Brewing's complaint committee's decision in for the courts shall mediation in the settlement of the settlement council does not take place.
The charge that drives the value paper register is subject to supervision of the SEC by law 7. December 1956 # 1 about the Department of Financial institutions mv. (the financial vision law).
| 0 | Modified by law 19 June 2009 # 48 (ikr. 21 des 2009 ifg res. 18 des 2009 # 1603). |
The securities registry and company of the same corporation has the obligation to provide the information that the SEC requires about conditions that concern the enterprise's business, as well as to provide and extradite to the SEC's documentation that concerns the business. Corresponding is applicable to the person acting on behalf of the value paper registry.
| 0 | Modified by law 19 June 2009 # 48 (ikr. 21 des 2009 ifg res. 18 des 2009 # 1603). |
The SEC can provide value paper register for legal action if the enterprise acts in violation of law, regulations given with home law in law or own rules and business terms. Corresponding is applicable to the person acting on behalf of the value paper registry. Similarly, too, if enterprises management or board members do not meet the requirements of honorable vanes and experience as determined in Section 4-1.
If a shareholder of significant ownership share is not deemed suitable to ensure a good and sensible management of the enterprise, or has stocks without the required permission after Section 5-2, the SEC can give the injunction that it cannot be eligible for the stock to be eligible for the stock.
| 0 | Modified by laws 19 June 2009 # 48 (ikr. 21 des 2009 ifg res. 18 des 2009 # 1603), 20 June 2014 # 29 (ikr. 1 July 2014 ifg ordinance 26 June 2014 No. 866). |
Trusty, employees and auditor of enterprises who run the securities registry and as intentional or negligent regulations in this law or in regulations given with home in the law, punishable by fines and under particularly display circumstances with prison up to three months, if the action does not go under any stricter penalty determination. Similarly, it is punishable by intentional or negligent-4 about confidentiality or terms after Section 8-3 other clauses, or regulations given with home in Section 8-3 or 8-4.
| 0 | Modified by laws 11 apr 2014 # 12 (ikr. 1 July 2014 ifg res. 11 apr 2014 # 547), 19 June 2015 # 65 (ikr. 1 oct 2015). |
Attaches to dissolve or dismantle the business in a value paper register meet by the General Assembly with the majority as for ordinance change, unless otherwise follows by law, the Vedroof shall be approved by the ministry, which can set terms for approval.
Attaches of resolution or deviation of a value paper register shall be released in Norwegian light leaf and at least two national newspapers.
The board and general manager of a value paper register has each for duty to report to the SEC if there is reason to fear that :
| 1. | it will be able to occur failure in the securities registry's ability to fulfill its obligations as they are due, |
| 2. | it is inlaid conditions that can cause severe trust failure or loss that significantly will weaken or threaten the solididity, |
| 3. | The value paper registry will not be able to carry out the context of session liquidate registration functions. |
If the value paper registry's auditor is familiar with the ratio mentioned in the first clause, this shall give such message to the SEC as mentioned in the first clause, unless the person has received confirmation from the SEC that such message has already been issued.
The message shall contain information on the institutional liquidity and capital situation, and accounted for the reason for the difficulties.
| 0 | Modified by law 19 June 2009 # 48 (ikr. 21 des 2009 ifg res. 18 des 2009 # 1603). |
The rules of law 6. December 1996 # 75 about fuse arrangements for banks and public administration m.v. of financial institutions chapter 4 applies as far as they fit.
Part ArticleThe law applies from the time the King 1 determines. At the same time, law is repeait 14 June 1985 # 62 about Value Paper central. The securities hub must within one year from the law of law enforcement seeking permission following this law's Chapter 3. The Ministry of Justice can give closer transition rules.
| 1 | Ifg. res. 5 July 2002 # The 720 Treasury Department, which at the research of the research 20 des 2002 # 1627 has put the law ir. 1 jan 2003. |
The securities hub shall within two years from the Commencement of the Act here reforming to the general public stock company, jf. law 13. June 1997 No. 45 on general stock companies.
The formation is to happen by that Verdi Verdi's assets and obligations are overdrawn to a newly founded public stock company against the Verdi Paper hub to get the stock in the company as a no-team. Creditors after the transferred obligations may not require coverage due to the reformation or opposing the reformation.
The stock of the newly-stitch company or in enterprise as mentioned in Section 5-2 third clause is to be sold. The share of the payment made by the sale corresponding to the book-led equity in the Value Paper is to be transferred to a financial market fund. The excess portion of the settlement is transferred to the state. The value paper is then to be discontinued.
Bookled equity as mentioned in the third clause should be presented by an exit balance worked out of the Verdi Verdi Center at the earliest four weeks prior to transfer as mentioned in other joints. The closing balance is to be worked out following the same principles as the last year accounting for the Verdict Center, and be approved by an auditor. In addition, the exit balance shall be approved by the ministry.
The Verdict Center is to devise a plan for the reformation that is to be approved by the ministry. The Ministry of Education can in regulation give closer regulations on the reformation and sale of the stock.
Part ArticleFrom the time the law is stepping into effect, the following changes are made in other laws :---
Part Article
