Independent Registries Regulations Adopted

In an effort to bring order to recording and transfer of ownership rights in respect of shares in open joint stock companies, including those formed in privatisation, the Ministry of Justice has approved temporary regulations on issuing licences to operate share registries. This will allow registration of ownership of shares to be carried on independently of issuers. Licences are issued by a joint decision of the State Property Fund and the Securities commission and are valid for one year. (Order of the State Property Fund and Securities Commission No 65/10 of 21 January 1996)

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