Document from CIS Legislation database © 2003-2020 SojuzPravoInform LLC

Approved at meeting of State commission on the security market of July 27, 1995

The instruction about procedure for re-registration of shares addressed to privatization investment funds and trust companies and to combination of accounts of shareholders/bond holders in the register of shareholders/bond holders of the privatized joint-stock companies

(as amended GKRTsB N 29-2 of 12.01.96)

I. General provisions

1.1. This Instruction is developed according to the Order of the Government of the Republic of Moldova N 734 of September 29, 1994. "About the organization of maintaining the shareholder register".

1.2. The instruction regulates the procedure of re-registration registrars in the shareholder register of the privatized joint-stock companies of the shares acquired addressed to owners of BND by privatization investment fund or trust company addressed to the specified fund as the shareholder or trust company as the nominee holder of shares.

1.3. According to the Provisional regulations for investment funds approved by the Presidential decree of the Republic of Moldova N 50 of February 18, 1994 privatization investment fund acquires the right of the shareholder of the privatized joint-stock companies acquired by it addressed to owners of BND which transferred the bonds to this fund for the declaration of trust only after exchange of shares of fund of the second and the subsequent issues on the specified shares. At the same time founders trastavladelets of BND become shareholders of this privatization investment fund.

1.4. Shares of the privatized joint-stock companies acquired by trust company addressed to owners of BND which transferred the bonds of this company according to the declaration of trust remain in management of this company for the benefit of founders of trust. At the same time the trust company is nominee holder of the specified shares.

1.5. After obtaining, according to Regulations on procedure for forming of the database of the shareholder register of the joint-stock companies founded in the course of privatization, approved by the Order of the Government N 316 of May 17, 1995 of the database of the shareholder register the registrar creates the register and informs on it the privatization investment funds and trust companies acting on behalf of owners of BND.

1.6. For the purposes of this Instruction the following terms are applied:

The founder of trust - the owner of BND who gave the BND of trust company or to privatization investment fund according to the declaration of trust.

The nominee holder - the professional participant of the security market (trust company) which holds securities on its own behalf at the request of other person (the owner of securities or other nominee holder), without being owner of these securities.

II. Re-registration of shares addressed to privatization investment funds and trust companies

2.1. After obtaining, according to Regulations on procedure for forming of the database of the shareholder register of joint-stock companies approved by the Order of the Government N 316 of May 17, 1995 of the database of the shareholder register the independent registrar creates the register and transfers the shares acquired addressed to owners of BND by privatization investment fund or trust company addressed to the specified fund as the shareholder or trust company as the nominee holder.

This procedure is performed by means of the corresponding entry in each mentioned account when maintaining the register on papers or by means of the corresponding software when maintaining the register on electronic media.

2.2. When making this transaction the registrar shall verify that the number of shares of the owners of BND re-registered from accounts into the account of fund or trust company matched.

2.3. The registrar notifies investment fund or trust company that the re-registration of shares addressed to fund as real owner or addressed to trust company as nominee holder was performed and that it possesses the corresponding number of shares. The registrar saves initial information on registered persons whose shares were re-registered addressed to mutual fund or shopping mall within a month from the date of the notification of mutual fund or shopping mall.

2.4. In case of disagreements concerning the number of the shares registered addressed to fund or trust company the last within 15 days the protocol of the arisen disagreements and the statement from the list of founders of trust for whose BND shares of specific joint-stock company were acquired is submitted to the registrar.

2.5. The specified issues shall be settled by the registrar within 10 days from the date of obtaining from privatization investment fund or trust company of the protocol of the arisen disagreements and the statement from the list of founders of trust for whose BND shares of specific joint-stock company were acquired, and the specified data are reported to investment fund or trust company.

III. Combination of accounts of owners of securities

3.1. Except as specified, stipulated in item 4. 6, the accounts containing identical name (surname), identical passport number or other identity document, and, in general, the identical address shall be integrated.

If the fact that two or more accounts are accounts of the same person is obvious and if there is no need to contact this person, the registrar should commingle accounts no later than in 30 days after the database is received from Group of coordination of the Ministry of privatization or after receipt of necessary data by the registrar for forming of the shareholder register from other sources.

3.2. For the purposes of this instruction, names (surnames) will be considered identical if:

- they in the same language, surname are identical, and other names or initials are not contradictory; or if

- they in different languages, but, according to the commonly accepted translation norms, surnames the same, and other names or initials are not contradictory.

3.3 For the purposes of this instruction:

- addresses, in general, will be considered identical if they contain the name of the same city or village, identical names of the street, house number and number of the apartment even if addresses are written in different languages or if their registration variously.

- names of the cities, villages, other settlements (objects of administrative division), or names of streets are considered identical if these names are officially changed. In the joint accounts newer (these) names shall be reflected.

3.4. In case of insignificant disagreements in passport number or other identity document, accounts shall be commingled based on the oral or written application of person checking correctness of number.

3.5 For the purposes of this instruction, in document number, proving the identity, cases when obvious shift of figures or when no more than two figures are various is obvious can be considered as insignificant disagreements.

If distinctions in figures are more considerable, accounts can be commingled only after receipt of the written confirmation of information, sufficient, according to the registrar, for confirmation of that fact that in case of record of one or other number there was mistake and that this person is the actual shareholder or bonds on each of accounts.

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