7 February, 2019

Transfer of securities after the termination of registry accounts

In the year 2015, the Book Entry Securities Act (hereinafter: ZNVP) has removed 80,000 registry accounts (where the remaining shares were privatized) for natural persons and legal entities, which means that their shareholders had to transfer them to a trading account of a member of the Central Securities Clearing Corporation (KDD) if they did not want to lose their assets. This would also bring them costs that they did not have with the registry accounts.

After the termination of the registry accounts, the remaining securities were transferred to the temporary accounts with the KDD, with a total value of more than 67 million euros. When it was established that additional costs could have been incurred, the Ministry of Finance proposed that the canceled registry accounts should remain on the joint dedicated account at the KDD until the end of 2021, and then transferred to a special account with Pension Fund Management (KAD).

According to the proposal, the holders of these securities may require that by the end of 2021 these securities be transferred to their account with a KDD member.

We advise you to pay attention to the activities of the Ministry of Finance in relation to the subject matter in order to avoid damages due to loss of securities.

RELATED POSTS
We are ranked in Chambers Global guide for 2019

We are ranked in Chambers Global guide for 2019

We are proud to announce that Chambers Global guide 2019 awarded Sibinčič Križanec as Recognised Practitioner in Corporate/Commercial law practice…

READ MORE
Unintentional data breach and measures to avoid it

Unintentional data breach and measures to avoid it

Unintentional breach of personal data has recently been disclosed by Slovenian state authority and Slovenian companies. The General Data Protection…

READ MORE
Co-financing opportunity for Intelectual Property procedures

Co-financing opportunity for Intelectual Property procedures

The Slovenian Enterprise Fund (hereinafter: the SEF) introduces a new program of incentives in 2019, i.e. vouchers. It will provide…

READ MORE

Let's connect

Let us know how we can help you and your business.

Dalmatinova ulica 2
SI-1000 Ljubljana, Slovenia

+386 59 097 400
+386 59 097 410

E-mail: info@s-k.law