Registration of a joint stock company
Under the Law on securities, all issuers shall register issued securities in the securities registry maintained by CSD. Issue of securities is recorded in the Depositary only if it has been carried out in accordance with the procedure specified in the law.
Registration of securities of a joint stock company in CSD in the process of its foundation may be performed in two ways:
1. Entry of the Shareholders book of the joint stock company in the data base of CSD in an electronic format through a specially designed computer programme issued by CSD with which the issuer records all stock holders in an electronic format, or
2. Entry data from the Shareholders book by CSD in the data base using the CSD software on the basis of the data provided by the issuer of securities in writing.
In both cases the issuer submits to CSD other necessary documentation.
Entry of the issuance of securities in an electronic manner is carried out in CSD if more than 20 entities acquire the securities through the issue. The issuer is provided a computer programme and the Instructions on how to use it in an electronic format, and the issuer enters data on the issue, identification data on owners and data on ownership, himself.
If the company is established with 20 or less than 20 founders, data on issued securities and the founders are submitted in writing duly certified by the issuer.
Required documentation for registration of securities in a process of foundation of a joint stock company
The issuing joint stock company shall submit to CSD for the purposes of the entry the following documents at the very minimum:
1. Application for entry of the Shareholders book
2. Data on issued shares, rights attached to shares etc:
- CD with data in an electronic format if the company was set up with more than 20 founders, or
- a list of founders and data on issued shares in writing if the company was set up with 20 or less than 20 founders as well as data on issued shares (number of issued shares, type, class, their nominal value, data on any restrictions on the disposal imposed by the issance act)
3. Decision on entry and Current status of the company issued by the Central Registry – Trade Registry and Registry of other legal entities
4. If under lex specials it is required that an approval is needed to acquire securities at issue, this document is submited to CSD; and
5. Payment of a fee on the Basis of the Tariff of the CSD
More information on the documentation needed and the procedure of registration of a joint stock company in the system of CSD is available to issuers at the Directorate for business processes of CSD.