After the Capital Markets Act went into effect, Oesterreichische Kontrollbank and the Federal Ministry of Finance began to develop an information system intended to facilitate application of the Act.
According to amendment BGBl I Nr 78/2005 the Financial Market Authority (FMA) has been designated as new competent authority as regards prospectus law. The notification office forwards inquiries regarding application of prospectus law to the FMA on demand.
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Amendments of CMA effective from 10 August 2005
We would like to draw your attention to the amendment of CMA (BGBl I 78/2005) effective from 10 August which includes the following modifications and clarifications regarding notifications pursuant to section 13 CMA:
Initial offer
Information on securities and investments which are offered for the first time in Austria have to be notified to the notification office for the New-Issue calendar. Further offers of the same securities or investments do not have to be notified notwithstanding the possible obligation to publish a prospecturs according to section 2 CMA.
- Public/non public offering
Public as well as non public offerings are subject to the notification requirement stipulated in section 13 CMA. In both cases the following details have to be submitted: the issuer, the prospective date of the issue, the total volume, the minimum denomination, maturity, information on the identification of the investment (ISIN or other identification) and the reasons for the exemptions of a prospectus (c.f. the formula for further detals). Further terms have to be quoted in case of a public offering only.
The data of issue is published on an anonymous basis via the New-Issue Calendar.