PURPOSE : legislative codification of provisions relating to the admission of securities to official stock exchange listing and on information to be published on those securities.
CONTENT : In order to ensure that Community law is clear and transparent, it is necessary to codify rules that have frequently been amended. The purpose of this proposal is for legislative codification of:
- Council Directives 79/279/EEC, coordinating the condiitons for the admission of securities to official stock excahnge listing;
- Directive 80/390/EEC coordinating the requirements for the drawing up, scrutiny and distribution of the listing particulars to be published for the admission of securities to official stock exchange listing;
- Directive 82/121/EEC on information to be published on a regular basis by companies the shares of which have been admitted to official stock-exchange listing;
- Directive 88/627/EEC on the information to be published when a major holding in a listed company is acquired or disposed of The new directive will supersede the various directives incorporated in it. their content is fully preserved and they are brought together with only such formal amendments as are required by the codification exercise itself. The proposal also reflects the replacement of references to the "ECU" with references to the "euro" as laid down by Council Regulation 1103/97/EEC.
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