natgillin/translations-raw huggingface dataset:
Where a person other than the issuer is responsible for drawing up the prospectus, it should be sufficient for that person to publish the prospectus on the website of that person.
Kadar je oseba, ki ni izdajatelj, odgovorna za pripravo prospekta, bi moralo zadostovati, da ta oseba objavi prospekt na svoji spletni strani.
In order to improve legal certainty, it should be clarified when the requirement to publish a supplement to the prospectus and the right of withdrawal end.
Za izboljšanje pravne varnosti je treba pojasniti, kdaj preneha zahteva po objavi dodatka k prospektu in kdaj pravica do umika.
Those provisions should be looked at separately.
Te določbe bi bilo treba obravnavati ločeno.
The obligation to supplement a prospectus should be terminated at the final closing of the offering period or the time when trading of such securities on a regulated market begins, whichever occurs later.
Obveznost dopolnitve prospekta je treba omejiti z dokončnim zaključkom obdobja ponudbe ali časom, ko se začne trgovanje s takimi vrednostnimi papirji na organiziranem trgu, odvisno od tega, kateri trenutek nastopi pozneje.
On the other hand, the right to withdraw an acceptance should be applicable only where the prospectus relates to an offer of securities to the public and the new factor, mistake or inaccuracy arose before the final closing of the offer and the delivery of the securities.
Na drugi strani bi morala pravica do umika sprejetja veljati le, če se prospekt nanaša na javno ponudbo vrednostnih papirjev in je prišlo do novega dejavnika, napake ali netočnosti pred končnim zaključkom ponudbe in izročitvijo vrednostnih papirjev.
Hence, the right of withdrawal is linked to the timing of the new factor, mistake or inaccuracy that gives rise to a supplement, and assumes that that triggering event has occurred while the offer was open and before delivery of the securities.
Zato je pravica do umika povezana s časom nastanka novega dejavnika, napake ali netočnosti, ki je razlog za dopolnitev, in se predpostavlja, da je do dogodka, ki je to povzročil, prišlo, ko je bila ponudba še odprta in preden so bili vrednostni papirji izročeni.
When the prospectus is supplemented, harmonisation at Union level of the time-frame for the exercise by investors of the right of withdrawal of their previous acceptances would provide certainty to issuers making cross-border offers of securities.
Ko se bo prospekt dopolnjeval, bo uskladitev časovnega okvira na ravni Unije za uresničevanje pravice do umika, ki jo imajo vlagatelji v zvezi s svojimi prejšnjimi sprejetji, zagotovila gotovost izdajateljem, ki čezmejno ponujajo vrednostne papirje.
To provide flexibility to issuers from Member States with a tradition of a longer time-frame in this regard, the issuer or the offeror should be able to extend the term for the exercise of that right voluntarily.
Da bi omogočili prožnost izdajateljem iz držav članic s tradicionalno daljšim časovnim okvirom, bi moral imeti izdajatelj ali ponudnik možnost prostovoljnega podaljšanja roka za uresničevanje navedene pravice.
To improve legal certainty, the supplement to the prospectus should specify when the right of withdrawal ends.
Za izboljšanje pravne varnosti bi moralo biti v dodatku k prospektu navedeno, kdaj preneha veljati pravica do umika.
The authority responsible for the approval of the prospectus should also notify the issuer or the person responsible for drawing up the prospectus of the certificate of approval of the prospectus that is addressed to the authorities of host Member States in accordance with Directive 2003/71/EC in order to provide the issuer or the person responsible for drawing up the prospectus with certainty as to whether and when a notification has actually been effected.
Organ, odgovoren za odobritev prospekta, bi moral tudi izdajatelju ali osebi, odgovorni za pripravo prospekta, zagotoviti potrdilo o odobritvi prospekta, ki je v skladu z Direktivo 2003/71/ES naslovljeno na organe države članice gostiteljice, da izdajatelju ali osebi, odgovorni za pripravo prospekta, posreduje zagotovilo v zvezi s tem, ali in kdaj je bilo uradno obvestilo dejansko izvedeno.
The measures necessary for the implementation of this Directive should be adopted by means of implementing acts in accordance with Article 291 of the Treaty on the Functioning of the European Union (TFEU).
Ukrepe, potrebne za izvajanje te direktive, je treba sprejeti v obliki izvedbenih aktov v skladu s členom 291 Pogodbe o delovanju Evropske unije (PDEU).
It is particularly important that the European Parliament receive draft measures and draft implementing acts as well as any other relevant information before the Commission decides on the equivalence of prospectuses drawn up in a particular third country.
Še posebej je pomembno, da Evropski parlament prejme osnutke ukrepov in izvedbenih aktov ter vse druge ustrezne informacije, preden Komisija sprejme odločitev o enakovrednosti prospektov, pripravljenih v določeni tretji državi.
In order to respect the principles set out in recital 41 of Directive 2003/71/EC and to take account of the technical developments in the financial markets and to specify the requirements laid down in Directive 2003/71/EC, the Commission should be empowered to adopt delegated acts in accordance with Article 290 TFEU.
Da bi spoštovali načela iz uvodne izjave 41 Direktive 2003/71/ES in upoštevali tehnični razvoj na finančnih trgih ter natančno določili zahteve iz Direktive 2003/71/ES, bi morala biti Komisija pooblaščena za sprejemanje delegiranih aktov v skladu s členom 290 PDEU.
In particular, delegated acts may be necessary to update the thresholds and the definitions for reduced market capitalisation and SMEs established in this Directive and in Directive 2003/71/EC, and to specify the detailed content and specific form of the summary in accordance with the outcome of the debate launched by the Commission’s Communication on Packaged Retail Investment Products of 30 April 2009, aligning to the greatest extent possible the content and form of the summary for securities with that outcome, preventing the duplication of documents and potential confusion for investors as well as minimising the costs.
Zlasti bi delegirani akti lahko bili potrebni za posodobitev pragov in opredelitev za zmanjšano tržno kapitalizacijo in MSP, določenih v tej direktivi in v Direktivi 2003/71/ES, ter za določitev podrobne vsebine in specifične oblike povzetka glede na ugotovitve razprave, ki izhaja iz sporočila Komisije o paketnih naložbenih produktih z dne 30. aprila 2009, pri čemer se v čim večji možni meri uskladi vsebina in oblika povzetka za vrednostne papirje s temi ugotovitvami, da se prepreči podvajanje dokumentov in morebitna zmedenost vlagateljev ter minimizirajo stroški.
The European Parliament and the Council should have 3 months from the date of notification to object to a delegated act.
Evropski parlament in Svet bi morala imeti na voljo tri mesece od datuma uradnega obvestila za nasprotovanje delegiranemu aktu.
At the initiative of the European Parliament or the Council, it should be possible to prolong that period by 3 months in regard to significant areas of concern.
Na pobudo Evropskega parlamenta ali Sveta bi za pomembna področja moralo biti možno podaljšanje tega obdobja za tri mesece.
It should also be possible for the European Parliament and the Council to inform the other institutions of their intention not to raise objections.
Evropski parlament in Svet bi morala imeti tudi možnost, da obvestita druge institucije, da ne nameravata nasprotovati.
Such early approval of delegated acts is particularly appropriate when deadlines need to be met, for example where there are timetables in the basic act for the Commission to adopt delegated acts.
Taka zgodnja odobritev delegiranih aktov je zlasti primerna, kadar je na primer treba spoštovati roke, na primer časovni razpored, določen v temeljnem aktu Komisije za sprejemanje delegiranih aktov.
In Declaration 39 on Article 290 TFEU, annexed to the Final Act of the Intergovernmental Conference which adopted the Treaty of Lisbon, signed on 13 December 2007, the Conference took note of the Commission’s intention to continue to consult experts appointed by the Member States in the preparation of draft delegated acts in the financial services area, in accordance with its established practice.
V Izjavi 39 o členu 290 PDEU, priloženi Sklepni listini medvladne konference, na kateri je bila sprejeta Lizbonska pogodba, podpisana dne 13. decembra 2007, se konferenca seznanja z nameni Komisije, da v skladu s svojo ustaljeno prakso pri pripravi osnutkov delegiranih aktov na področju finančnih storitev nadaljuje posvetovanja s strokovnjaki, ki jih imenujejo države članice.
Since the objective of this Directive, namely reducing administrative burdens relating to the publication of a prospectus in the case of offers of securities to the public and admission to trading in regulated markets within the Union, cannot be sufficiently achieved by Member States and can therefore, by reason of its scale and effects, be better achieved at Union level, the Union may adopt measures in accordance with the principle of subsidiarity as set out in Article 5 of the Treaty on European Union.
Ker države članice ciljev te direktive, in sicer zmanjšanja administrativnih obremenitev zaradi objave prospekta v primeru javnih ponudb vrednostnih papirjev in sprejema v trgovanje na organiziranih trgih v Uniji, ne morejo zadovoljivo doseči in jih je zato zaradi obsega in učinkov lažje doseči na ravni Unije, lahko Unija sprejme ukrepe v skladu z načelom subsidiarnosti iz člena 5 Pogodbe o Evropski uniji.
In accordance with the principle of proportionality, as set out in that Article, this Directive does not go beyond what is necessary in order to achieve that objective.
V skladu z načelom sorazmernosti iz istega člena ta direktiva ne presega tistega, kar je potrebno za dosego tega cilja.
Directives 2003/71/EC and 2004/109/EC should therefore be amended accordingly,
Direktivi 2003/71/ES in 2004/109/ES bi bilo zato treba ustrezno spremeniti –
Amendments to Directive 2003/71/EC
Spremembe Direktive 2003/71/ES
Directive 2003/71/EC is hereby amended as follows:
Direktiva 2003/71/ES se spremeni, kakor sledi:
Article 1 is amended as follows:
člen 1 se spremeni:
in paragraph 2:
v odstavku 2 se:
point (h) is replaced by the following:
točka (h) nadomesti z naslednjim:
securities included in an offer where the total consideration for the offer in the Union is less than EUR 5000000, which shall be calculated over a period of 12 months;’;
vrednostni papirji, vključeni v ponudbo, kadar je celotna vrednost za ponudbo v Uniji nižja od 5000000 EUR, ki se izračuna za obdobje 12 mesecev;“;
point (j) is replaced by the following:
točka (j) nadomesti z naslednjim:
non-equity securities issued in a continuous or repeated manner by credit institutions where the total consideration for the offer in the Union is less than EUR 75000000, which shall be calculated over a period of 12 months, provided that those securities:
nelastniški vrednostni papirji, ki jih kreditne institucije neprestano ali ponavljajoče izdajajo, kadar je celotna vrednost za ponudbo v Uniji nižja od 75000000 EUR, ki se izračuna za obdobje 12 mesecev, pod pogojem, da ti vrednostni papirji:
are not subordinated, convertible or exchangeable;
niso podrejeni, zamenljivi ali izmenljivi;
do not give a right to subscribe to or acquire other types of securities and that they are not linked to a derivative instrument.’;
ne dajejo pravice vpisati ali kupiti druge vrste vrednostnih papirjev in niso vezani na izvedeni instrument.“;
In order to take account of technical developments on financial markets, including inflation, the Commission shall adopt, by means of delegated acts in accordance with Article 24a, and subject to the conditions of Articles 24b and 24c, measures concerning the adjustment of the limits referred to in points (h) and (j) of paragraph 2 of this Article.’;
Da bi se upošteval tehnični razvoj na finančnih trgih, vključno z inflacijo, Komisija z delegiranimi akti v skladu s členom 24a in pod pogoji iz členov 24b ter 24c sprejme ukrepe o prilagoditvi mejnih vrednosti iz točk (h) in (j) odstavka 2 tega člena.“;
in paragraph 1:
v odstavku 1 se:
point (e) is replaced by the following:
točka (e) nadomesti z naslednjim:
“qualified investors” means persons or entities that are described in points (1) to (4) of Section I of Annex II to Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments, and persons or entities who are, on request, treated as professional clients in accordance with Annex II to Directive 2004/39/EC, or recognised as eligible counterparties in accordance with Article 24 of Directive 2004/39/EC unless they have requested that they be treated as non-professional clients.
‚dobro poučeni vlagatelji‘ pomeni osebe ali subjekte, navedene v točkah 1 do 4 oddelka I Priloge II Direktive 2004/39/ES Evropskega parlamenta in Sveta z dne 21. aprila 2004 o trgih finančnih instrumentov, ter tiste osebe ali subjekte, ki se na zahtevo obravnavajo kot poklicne stranke v skladu s Prilogo II Direktive 2004/39/ES, ali so priznane kot primerne pogodbene stranke v skladu s členom 24 Direktive 2004/39/ES, razen če so zahtevale, da se jih obravnava kot nepoklicne stranke.
Investment firms and credit institutions shall communicate their classification on request to the issuer without prejudice to the relevant legislation on data protection.
Investicijske družbe in kreditne institucije posredujejo svojo razvrstitev na zahtevo izdajatelju brez poseganja v ustrezno zakonodajo o varstvu podatkov.
Investment firms authorised to continue considering existing professional clients as such in accordance with Article 71(6) of Directive 2004/39/EC shall be authorised to treat those clients as qualified investors under this Directive;
Investicijske družbe, pooblaščene za obravnavanje obstoječih poklicnih strank kot takšnih v skladu s členom 71(6) Direktive 2004/39/ES, se pooblastijo za obravnavanje teh strank kot dobro poučenih vlagateljev v skladu s to direktivo;
the following points are added:
dodajo naslednje točke:
“key information” means essential and appropriately structured information which is to be provided to investors with a view to enabling them to understand the nature and the risks of the issuer, guarantor and the securities that are being offered to them or admitted to trading on a regulated market and, without prejudice to Article 5(2)(b), to decide which offers of securities to consider further.
‚ključne informacije‘ pomenijo bistvene in ustrezno strukturirane informacije, ki bodo zagotovljene vlagateljem, z namenom, da se jim omogoči razumevanje narave in tveganj izdajatelja, garanta in vrednostnih papirjev, ki so jim ponujeni ali sprejeti v trgovanje na organiziranem trgu, ter, brez poseganja v člen 5(2)(b), odločanje, katere ponudbe vrednostnih papirjev bodo nadalje obravnavali.
In light of the offer and securities concerned, the key information shall include the following elements:
Ob upoštevanju ponudbe in ustreznih vrednostnih papirjev, ključne informacije vključujejo naslednje elemente:
a short description of the risks associated with and essential characteristics of the issuer and any guarantor, including the assets, liabilities and financial position;
kratek opis tveganj, povezanih z izdajateljem in vsemi garanti ter njihovih bistvenih lastnosti, vključno s sredstvi, obveznostmi in finančnim položajem;
a short description of the risk associated with and essential characteristics of the investment in the relevant security, including any rights attaching to the securities;
kratek opis tveganja, povezanega z naložbo v ustrezen vrednostni papir in njenih bistvenih značilnosti, vključno z vsemi pravicami, ki izhajajo iz vrednostnih papirjev;
general terms of the offer, including estimated expenses charged to the investor by the issuer or the offeror;
splošne pogoje ponudbe, vključno z ocenjenimi stroški, ki jih izdajatelj ali ponudnik zaračuna vlagatelju;
details of the admission to trading;
podrobnosti o sprejetju v trgovanje;
reasons for the offer and use of proceeds;
razlogi za ponudbo in uporaba iztržka;
“company with reduced market capitalisation” means a company listed on a regulated market that had an average market capitalisation of less than EUR 100000000 on the basis of end-year quotes for the previous three calendar years.’;
‚družba z zmanjšano tržno kapitalizacijo‘ pomeni družbo, ki kotira na organiziranem trgu, ki je imela povprečno tržno kapitalizacijo manj kot 100000000 EUR na podlagi kotacij ob zaključku leta za prejšnja tri koledarska leta.“;
In order to take account of technical developments on financial markets and to specify the requirements laid down in this Article, the Commission shall adopt, by means of delegated acts in accordance with Article 24a, and subject to the conditions of Articles 24b and 24c, the definitions referred to in paragraph 1, including the adjustment of the figures used for the definition of SMEs, and the thresholds for reduced market capitalisation, taking into account the situation on different national markets, including the classification used by the operators of regulated markets, Union legislation and recommendations as well as economic developments.’;
Da bi se upošteval tehnični razvoj na finančnih trgih in opredelile zahteve iz tega člena, Komisija z delegiranimi akti v skladu s členom 24a in pod pogoji iz členov 24b in 24c sprejme opredelitve iz odstavka 1, vključno s prilagoditvijo zneskov za opredelitev MSP, ter pragov zmanjšano tržno kapitalizacijo, ob upoštevanju razmer na različnih nacionalnih trgih, vključno s klasifikacijo, ki jo uporabljajo upravljavci organiziranih trgov, zakonodaje in priporočil Unije ter tudi gospodarskega razvoja.“;
the first subparagraph is replaced by the following:
prvi pododstavek nadomesti z naslednjim:
The obligation to publish a prospectus shall not apply to the following types of offer:
Dolžnost objave prospekta ne velja za naslednje vrste ponudb:
an offer of securities addressed solely to qualified investors; and/or
ponudbo vrednostnih papirjev, naslovljeno samo na dobro poučene vlagatelje; in/ali
an offer of securities addressed to fewer than 150 natural or legal persons per Member State, other than qualified investors; and/or
ponudbo vrednostnih papirjev, naslovljeno na manj kot 150 fizičnih ali pravnih oseb na državo članico, razen dobro poučenih vlagateljev; in/ali
an offer of securities addressed to investors who acquire securities for a total consideration of at least EUR 100000 per investor, for each separate offer; and/or
ponudbo vrednostnih papirjev, naslovljeno na vlagatelje, ki kupijo vrednostne papirje za najmanjši znesek 100000 EUR na investitorja, za vsako ločeno ponudbo; in/ali
an offer of securities whose denomination per unit amounts to at least EUR 100000; and/or
ponudbo vrednostnih papirjev, katerih nominalna vrednost na enoto je najmanj 100000 EUR; in/ali
an offer of securities with a total consideration in the Union of less than EUR 100000, which shall be calculated over a period of 12 months.’;
ponudbo vrednostnih papirjev s celotno vrednostjo v Uniji manj kot 100000 EUR, ki se izračuna za obdobje 12 mesecev.“;
the following subparagraph is added:
doda naslednji pododstavek:
‘Member States shall not require another prospectus in any such subsequent resale of securities or final placement of securities through financial intermediaries as long as a valid prospectus is available in accordance with Article 9 and the issuer or the person responsible for drawing up such prospectus consents to its use by means of a written agreement.’;
„Države članice pri vsaki taki nadaljnji prodaji vrednostnih papirjev ali končni prodaji vrednostnih papirjev prek finančnih posrednikov ne zahtevajo še enega prospekta, dokler je na voljo veljavni prospekt v skladu s členom 9 in se izdajatelj ali oseba, odgovorna za pripravo takega prospekta, strinja z njegovo uporabo s pisnim soglasjem.“;
In order to take account of technical developments on financial markets, including inflation, the Commission shall adopt, by means of delegated acts in accordance with Article 24a, and subject to the conditions of Articles 24b and 24c, measures concerning the thresholds in points (c) to (e) of paragraph 2 of this Article.’;
Da bi se upošteval tehnični razvoj finančnih trgov, vključno z inflacijo, Komisija z delegiranimi akti v skladu s členom 24a in pod pogoji iz členov 24b in 24c sprejme ukrepe, ki zadevajo pragove iz točk (c) do (e) odstavka 2 tega člena.“;
points (c) to (e) are replaced by the following:
točke (c) do (e) nadomestijo z naslednjim:
securities offered, allotted or to be allotted in connection with a merger or division, provided that a document is available containing information which is regarded by the competent authority as being equivalent to that of the prospectus, taking into account the requirements of Union legislation;
vrednostni papirji, dodeljeni ali ki bodo dodeljeni v zvezi z združitvijo ali delitvijo pod pogojem, da je na voljo dokument, ki vsebuje informacije, za katere pristojni organ meni, da so enakovredne informacijam prospekta, ob upoštevanju zahtev zakonodaje Unije;
dividends paid out to existing shareholders in the form of shares of the same class as the shares in respect of which such dividends are paid, provided that a document is made available containing information on the number and nature of the shares and the reasons for and details of the offer;
dividende, izplačane obstoječim delničarjem v obliki delnic istega razreda kot delnice, v zvezi s katerimi se take dividende plačujejo, pod pogojem, da je na voljo dokument, ki vsebuje informacije o številu in lastnostih delnic ter razlogih in podrobnostih ponudbe;
securities offered, allotted or to be allotted to existing or former directors or employees by their employer or by an affiliated undertaking provided that the company has its head office or registered office in the Union and provided that a document is made available containing information on the number and nature of the securities and the reasons for and details of the offer.’;
delnice, ki jih obstoječim ali nekdanjim direktorjem ali zaposlenim ponudi, dodeli ali jih bo dodelil delodajalec ali odvisno podjetje, pod pogojem, da ima družba svoj glavni sedež ali registrirani sedež v Uniji ter da je na voljo dokument, ki vsebuje informacije o številu in lastnostih delnic ter vzrokih in podrobnostih ponudbe.“;
the following subparagraphs are added:
dodajo naslednji pododstavki:
‘Point (e) shall also apply to a company established outside the Union whose securities are admitted to trading either on a regulated market or on a third-country market.
„Točka (e) se uporablja tudi za podjetja s sedežem zunaj Unije, katerih vrednosti papirji so sprejeti v trgovanje na organiziranem trgu ali na trgu tretje države.
In the latter case, the exemption shall apply provided that adequate information, including the document referred to in point (e), is available at least in a language customary in the sphere of international finance and provided that the Commission has adopted an equivalence decision regarding the third-country market concerned.
V slednjem primeru velja oprostitev, če so ustrezne informacije, vključno z v točki (e) navedenim dokumentom, na voljo v jeziku, ki je običajen na področju mednarodnih financ, in da je Komisija za zadevni trg tretje države sprejela odločitev o enakovrednosti.