RESOLUTION OF THE NATIONAL COMMISSION ON THE FINANCIAL MARKET OF THE REPUBLIC OF MOLDOVA

of March 19, 2010 No. 11/10

About approval of Rules of National securities depository of Moldova

Based on Art. 1 of the h. (1), Art. 3, Art. 4 of h (1) and h (2), Art. 8 of the item b), Art. 21 of the h. (1), Art. 22 of the h. (1) and h. (2), Art. 25 of h (2) the Law No. 192-XIV of 12.11.1998 "About the National commission on the financial market" (it is repeatedly published in the Official monitor of the Republic of Moldova, 2007, No. 117-126 BIS) and Art. 41 of h (5) the Law No. 99-XIV of 18.11.1998 "About the security market" (it is repeatedly published in the Official monitor of the Republic of Moldova, 2008, No. 183-185, by the Art. 655) the National commission on the DECIDES: financial market

1. Approve the Rules of National securities depository of Moldova in the new edition accepted by Council of "National Securities Depository of Moldova" joint-stock company (the protocol No. 8/09 from 30.10.2009), according to appendix.

2. Recognize invalid the Resolution of the National commission on the financial market No. 29/11 of 4.12.2003 "About registration of forms and procedures of National securities depository of Moldova" and the Resolution of the National commission on the financial market No. 24/8 of 4.05.2007 "About approval of some regulations regulating activities of National securities depository of Moldova".

3. This resolution becomes effective from the date of publication.

Approved by the Resolution the National commission on the financial market of March 19, 2010 No. 11/10

Rules of National securities depository of Moldova (in the new edition)

1. Basic concepts

For the purpose of these rules the concepts given further and expressions mean the following:

Consulting activities are activities for rendering support consulting services by professional participants of the security market to clients in licensed sphere of activity.

Depository activity is rendering services in storage of securities and/or to accounting of the rights of depositors to securities.

Settlement activities. Calculations are activities for exchange of securities for money, i.e. implementation of calculations for security transactions by means of money transfer and delivery of securities to participants of the market.

Clearing and settlement activities are activities for determination of cross liabilities, that is implementation of transactions for collection, reconciliation, adjustment of information on transactions of purchase and sale of securities and preparation of documents for execution of transactions, and also activities for offsetting of cross liabilities for calculations for securities and implementation of the specified calculations by money transfer and delivery of securities to participants of the market.

Activities for maintaining the register of holders of personalized securities (further - activities for maintaining the register) are activities for collection, registration, processing, storage and provision of information for the purpose of creation of system of maintaining the register of holders of personalized securities of the issuer, and also provision of information from the register of holders of personalized securities.

Cancellation of the transaction is the clearing transaction consisting in cancellation of records about the transaction, day of calculations for which did not come yet, from depositary and clearing accounts of the parties of the transaction.

The database is data set, the holders of personalized securities intended for maintaining the register.

Blocking is the depository operation consisting in entering into records on the depositary account of mark about encumbrance of certain quantity of securities by obligations (pledge of securities, the temporary termination of transactions with securities according to the decision of degree of jurisdiction or authorized bodies). When implementing activities for maintaining the register blocking is understood as registration of prohibition on implementation of the translation of securities from one personal account into other personal account or availability of the rights granted by securities in cases, stipulated by the legislation.

The broker is the professional participant of the security market having the license for broker activities.

The analytical account - represents the account opened for the member of National depositary in National depositary as to the member of ASMP, intended for the cash accounting of the participant and his clients. The money intended for implementation of security transactions registers in the analytical account only. Money transfer from the analytical account into other accounts (the analytical account of other participant or the settlement account opened in one of commercial banks) as a result of which other person than their initial owner appears the receiver of the translation, is performed only for covering of transactions with securities. The procedure for opening, maintaining and closing of analytical accounts will be provided by the special procedure according to item 2.3 of these rules.

The depositary contract is contract between National Depositary and the depositor according to which services of National Depositary are provided to the depositor and the depositor appoints National Depositary the nominee holder.

The depositary account is the account opened in National Depositary for accounting of the rights of the depositor to securities.

Own depositary account (further - own account) is the account opened for members of National Depositary for accounting of the rights to own securities of these participants (i.e. the securities belonging to them owing to the property right). Own account is managed the participant.

The individual depositary account (further - the individual account) is the account opened in National Depositary for deponentamindividualny investors whose legal representative is the broker.

The collective depositary account (further - the collective account) is the account opened for the participant who is the nominee holder of securities of the clients for accounting of the rights of this participant as the nominal owner of the securities belonging to the specified clients. The securities which are on the collective account are considered in total, without specifying on their accessory to specific clients of the participant addressed to whom the account is opened. Accounting of securities by clients is performed in internal accounting documents of the corresponding participant.

The special depositary account is the account opened on behalf of National depositary for accounting of the securities belonging to the liquidated legal entities before renewal of liquidation procedure and also for accounting of the securities which are in nominal ownership of professional participants at whom types of professional activity in the security market are in process of liquidation according to the resolution of the National commission;

The clearing account is the account opened for each participant and intended for accounting of obligations of this participant on deliveries of securities and calculations for them.

The personal account of the issuer is the account opened in the register of holders of personalized securities for accounting of the securities issued by the issuer in whom data are specified about: issuer, classes of issued securities, issues of securities, treasury shares and other data.

The personal account of the registered person is the account opened by National Depositary in the register of holders of personalized securities for accounting of the property rights to their securities. On the security holder the following personal accounts can be opened: personal account of the owner (owner), personal account of the nominee holder.

Preliminary confirmation of the order is the transaction made by Trade system of Stock exchange of Moldova (further - Stock exchange) based on the data provided by National Depositary for the purpose of prevention of security sale without covering (i.e. security sales which the seller does not have).

Adjustment of the transaction is the clearing transaction consisting in entering into records according to the depositary and clearing account of the participant of the changes reflecting change of instructions for payment under the transaction which party is this participant.

Date of accounting is date of introduction of data on the list of holders of personalized securities or data on entries in the personal account of the registered person.

The dealer is the professional participant of the security market having the license for dealer activities.

The depositor is the physical person or legal entity which signed the depositary contract, using services of National Depositary and having the account opened on the name.

Calculations – set of actions taken at the same time by the member of National depositary (seller) for execution of the obligations connected with delivery of securities, on the one hand, and the member of National depositary (buyer) for execution of the obligations connected with payments, on the other hand, on the stock exchange transactions concluded during one trading session. Calculations are perfromed in "day of calculations" which day of T+3 for all stock exchange transactions, with the exceptions provided by item 11.1 of the h is. (2).

The national Securities depository of Moldova (daleenatsionalny Depositary) is the professional participant of the security market rendering services in accounting of the rights of depositors to securities, in clearing and payment under the transactions made on the Stock exchange.

Deposition is the depository operation consisting in transfer of securities into the depositary account owing to their transfer to accounting to National Depositary. Distinctive feature of this transaction is increase in quantity of the securities considered in National Depositary.

The security holder is the person owning securities based on the property right (owner) or based on the contract (nominee holder).

The nominee holder of securities (further - the nominee holder) is professional participant in the security market on whom securities at the request of owners of securities or other nominee holders and which is not their owner are written down.

The transfer order is order of the registered person or other person determined by the legislation about transfer of property on securities to another (another) to person (persons) in case of civil security transactions: sale - purchase, donation, inheritance, legal succession, etc.

Accounting documents are accounting acts and acts based on which transactions with securities are registered.

The statement from the register is the document issued by National Depositary to person registered in the register of personalized securities or his representative in whom data on the securities registered on the date of issue of the statement from the register or on the date of accounting are specified.

The fund of risk of participants is the general equity fund of participants intended for decrease in risks in case of the calculations within stock exchange transactions perfromed by members of National Depositary.

The individual investor is the depositor having the right to make orders on the depositary account only through the operators appointed by it.

The list of personalized security holders is the document issued by National Depositary in which data according to records on personal accounts of registered persons are specified, constituted on the date of accounting on each class of securities separately, with indication of the number of securities on each person and restrictions for them within provisions of the current legislation.

The list of subscribers is list of faces which were signed for the securities placed by the issuer.

The transactions performed by National Depositary in case of provision of services of maintaining the register are the actions relating to:

a) to opening of accounts to the issuer and/or own accounts;

b) whether to change of the data relating to the issuer and / registered persons;

c) to blocking and cancellation of blocking of securities;

d) to deposition and write-off of securities from own account of the registered person;

e) data processing from the register of security holders in view of their further provision;

f) to preparation or provision of the security holders this for preparation of the list;

g) to issue of information from the register in cases, stipulated by the legislation;

h) to provision to the issuer of services of implementation of corporate actions.

The operator of the individual depositary account (further - the operator) is the member of National Depositary having the right based on the contract with the individual investor registered in National Depositary to make orders on accomplishment of the transactions on all or some line items of the individual depositary account of this investor within established by the contract of powers and based on orders of the investor.

Corporate transactions are the services rendered in connection with accomplishment by joint-stock company of the obligations to shareholders (dividend payout, etc.), change of the status of joint-stock company or data on it (reorganization, change of the name, etc.) or with implementation of the transactions affecting securities of joint-stock company (converting and crushing of securities, etc.).

Depository operations are the operations performed by National Depositary when implementing of depository activity by it.

The member of National Depositary (further - the participant) is the depositor having the right directly to make orders on the depositary accounts and conforming to the requirements established by these rules.

The registered person is the security holder entered in the register of holders of personalized securities at National Depositary.

The line item is certain number of securities.

The long position is the number of the securities which are subject to delivery to this participant specified in records on depositary and clearing accounts of the participant.

The short position is the number of the securities which are subject to delivery by this participant specified in records on clearing and depositary accounts of the participant.

The net cash line item is the obligations of National Depositary and its participants on money transfer (from the account of National Depositary into accounts of participants or on the contrary) formed as a result of mutual offsetting of monetary commitments of participants on stock exchange transactions. The net cash line item shows what cash amount following the results of clearing each participant shall pay or receive.

Removal is the depository operation consisting in write-off of securities from the depositary account owing to their removal from accounting in National Depositary and entering of the corresponding records into system of maintaining the register of holders of these securities. Distinctive feature of this transaction is reduction of quantity of the securities considered in National Depositary.

The Section of the depositary account is part of records of the depositary account with which possible transactions and/or methods of their execution are regulated by the same document.

Symbol T, T+0 - date of transaction of purchase and sale on the Stock exchange of Moldova.

T symbol + - the date corresponding to quantity of the working days, considering from the date of transaction at the exchange.

The system of maintaining the register (further - system of the register) is the automated system of accounting of owners of the personalized securities issued according to the legislation on joint-stock companies and on the security market. The system of maintaining the register provides:

a) the description of class of securities according to which the register is kept, accounting of balance placed (being in circulation, treasurer) securities;

b) opening of the account of the issuer for issued securities;

c) opening of personal account for each owner of securities;

d) identification and change of details of registered persons;

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info