Financial Business Act.pdf

While this translation was carried out by a professional translation agency, the text
is to be regarded as an unofficial translation based on the latest official Consolidated
Act no. 286 of 4 April 2006. Only the Danish document has legal validity.
October 2006, GlobalDenmark Translations
subsection (1), if such institution or company legally carries out securities trading either
through a branch or by providing services in Denmark, cf. sections 1(3) and 33 respectively of
the Financial Business Act.
(4) Major clients shall be entitled to procure information concerning their own accounts
directly from a central securities depository, to transfer notifications of sale through a central
securities depository to the account-holding institution or a clearing centre and to notify
registration on own accounts directly to a central securities depository.”
29. Section 64(1) shall be worded as follows:
”64.-(1) Account-holding institutions, cf. section 62(1) and (2) shall enter into a participation
agreement with a central securities depository in order to be entitled to effect registration with
the depository in question.”
30. In section 64(2) ”section 62(2)” shall be amended to: ”section 62(4)”.
31. Section 64(3) shall be worded as follows:
”(3) A central securities depository may, after having been granted a license by the Danish
FSA, enter into a participation agreement with a credit institution or investment company as
mentioned in section 62(3) that does not carry out securities trading either through a branch
or by providing services in Denmark, cf. sections 1(3) and 33 respectively of the Financial
Business Act.”
32. Section 68(1), 3rd clause shall be worded as follows:
”As far as possible, the person(s) entitled in the register shall be notified of any drawings,
alterations or cancellations.”
33. Section 68(3), 1st clause shall be worded as follows:
”(3) The persons who are so entitled according to the register and the applicants may, in
conformity with the central securities depository's rules which shall be approved by the Danish
FSA, decide that notices pertaining to drawings or alterations shall be given periodically and
may similarly, in whole or in part, choose not to receive any notices of drawings or
alterations.”
34. After section 82, the following shall be inserted:
”82a. The Minister for Finance may, when the central government acts as the accountholding
institution, guarantee claims for compensation with regard to incorrect registrations as
mentioned in section 81(1), and guarantee the central government's contribution to the total
capital resources of a central securities depository, cf. section 82.”
35. Section 83a(4) and (5) shall be worded as follows:
EXCLUDING MINOR AMENDMENTS
”(4) The provisions of section 84a(1) and (2) shall apply correspondingly to stock exchanges
and to authorised markets that have authorities under subsection (1) respectively.