Regulatory Alerts2013-07-04
Regulation on Calculating Voting Rights and Registering Transfer of Ownership Over Bank Shares
The Council of Administration of the National Bank of Moldova issued Decision No. 130 to approve a regulation establishing requirements for calculating voting rights and registering ownership transfers of bank shares. The framework defines direct and indirect instructions, mandates that calculations include treasury shares and controlled entities, and outlines specific exceptions for custodians and market makers. It requires qualifying shareholders to secure prior written approval or submit formal notifications before transferring shares, while mandating timely declarations of concerted activity to securities register keepers.
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