natgillin/translations-raw huggingface dataset:
Taking into account different business models, a CSD should be defined by reference to certain core services, which consist of settlement, implying the operation of a securities settlement system, notary and central securities accounts maintenance services.
Vsaka pravna oseba, ki je zajeta v opredelitvi CDD, mora pred začetkom opravljanja dejavnosti pridobiti dovoljenje pristojnih nacionalnih organov.
A CSD should at least operate a securities settlement system and provide one other core service.
Ob upoštevanju različnih poslovnih modelov bi bilo treba CDD opredeliti glede na nekatere osnovne storitve, ki so poravnava – kar pomeni upravljanje sistema poravnave vrednostnih papirjev –, notarske storitve in storitve centralnega vodenja računov vrednostnih papirjev.
This combination is essential for CSDs to play their role in securities settlement and in ensuring the integrity of a securities issue.
CDD bi morala najmanj upravljati sistem poravnave vrednostnih papirjev in opravljati še eno drugo osnovno storitev.
Entities that do not operate securities settlement systems such as registrars, transfer agents, public authorities, bodies in charge of a registry system established under Directive 2003/87/EC, or CCPs that are regulated by Regulation (EU) No 648/2012 of the European Parliament and of the Council [10] do not fall within the scope of the definition of a CSD.
Ta kombinacija je bistvena, da lahko CDD opravljajo svojo vlogo pri poravnavi vrednostnih papirjev in zagotavljanju celote izdaje vrednostnih papirjev.
CSDs should have in place recovery plans to ensure continuity of their critical operations.
Opredelitev CDD ne vključuje subjektov, ki ne upravljajo sistemov poravnave vrednostnih papirjev, kot so registratorji, posredniki za prenos, javni organi in organi, odgovorni za sistem registrov, ustanovljen v skladu z Direktivo 2003/87/ES, ali CNS, ki jih ureja Uredba (EU) št. 648/2012 Evropskega parlamenta in Sveta [10].
Without prejudice to Directive 2014/59/EU of the European Parliament and of the Council [11], the competent authorities should ensure that an adequate resolution plan is established and maintained for each CSD in accordance with the relevant national law.
CDD bi morale vzpostaviti načrte za sanacijo za zagotavljanje neprekinjenosti svojih kritičnih dejavnosti.
In order to provide reliable data on the scale of securities settlement outside securities settlement systems and to ensure that the risks arising can be monitored and addressed, any institutions other than CSDs that settle securities transactions outside a securities settlement system should report their settlement activities to the competent authorities concerned.
Pristojni organi bi morali brez poseganja v Direktivo 2014/59/EU Evropskega parlamenta in Sveta [11] zagotoviti, da se za vsako CDD vzpostavi in ohranja ustrezen načrt za reševanje v skladu z zadevnim nacionalnim pravom.
The recipient competent authorities should subsequently transmit that information to ESMA and should inform ESMA of any potential risk resulting from such settlement activities.
Da bi zagotovili zanesljive podatke o obsegu poravnave vrednostnih papirjev zunaj sistemov poravnave vrednostnih papirjev ter omogočili spremljanje in upravljanje nastajajočih tveganj, bi morale vse institucije, ki niso CDD in poravnavajo posle z vrednostnimi papirji zunaj sistema poravnave vrednostnih papirjev, o svojih dejavnostih poravnave poročati zadevnim pristojnim organom.
Furthermore, ESMA should monitor such settlement activities and take into account the potential risks that they might create.
Prejemni pristojni organi bi morali te informacije nato posredovati ESMA in ga obvestiti o morebitnih tveganjih, ki bi lahko izhajala iz takšnih dejavnosti poravnave.
In order to avoid any risk-taking by CSDs in activities other than those subject to authorisation under this Regulation, the activities of authorised CSDs should be limited to the provision of services covered by their authorisation or notified under this Regulation and they should not hold any participation, as defined in this Regulation by reference to the Directive 2013/34/EU of the European Parliament and of the Council [12], or any ownership, direct or indirect, of 20 % or more of the voting rights or capital in any institutions other than those providing similar services unless such a participation is approved by CSDs’ competent authorities on the basis that it does not significantly increase the CSDs’ risk profile.
Poleg tega bi moral ESMA spremljati takšne dejavnosti poravnave in upoštevati morebitna tveganja, ki jih lahko ustvarijo.
In order to ensure the safe functioning of the securities settlement systems, they should be operated only by the CSDs or by central banks acting as CSDs, subject to this Regulation.
Da CDD ne bi tvegale in izvajale dejavnosti, ki niso dejavnosti, za katere je potrebno dovoljenje po tej uredbi, bi morale biti dejavnosti CDD, ki imajo dovoljenje, omejene na opravljanje storitev, ki so zajete v navedenem dovoljenju ali so uradno sporočene po tej uredbi, pri čemer CDD ne bi smele biti udeležene, kot je opredeljeno v tej uredbi s sklicevanjem na Direktivo 2013/34/EU Evropskega parlamenta in Sveta [12], ali imeti neposredno ali posredno v lasti 20 % ali več glasovalnih pravic ali kapitala v kateri koli instituciji, ki ni institucija, ki opravlja podobne storitve, razen če te udeležbe ne potrdijo pristojni organi CDD, ker naj ne bi bistveno povečala profila tveganja CDD.
Without prejudice to specific requirements of Member State tax law, CSDs should be authorised to provide services ancillary to their core services that contribute to enhancing the safety, efficiency and transparency of the securities markets and that do not create undue risks to their core services.
Da se zagotovi varno delovanje sistemov poravnave vrednostnih papirjev, bi morale te sisteme upravljati le CDD ali centralne banke, ki delujejo kot CDD, za katere velja ta uredba.
A non-exhaustive list of those services is set out in this Regulation in order to enable CSDs to respond to future market developments.
Brez poseganja v posebne zahteve davčnega prava države članice bi CDD morale imeti dovoljenje za opravljanje pomožnih storitev, ki prispevajo h krepitvi varnosti, učinkovitosti in preglednosti trgov vrednostnih papirjev ter ne povzročajo nepotrebnega tveganja za osnovne storitve.
Where the provision of such services relates to withholding and reporting obligations to the tax authorities, it will continue to be carried out in accordance with the law of the Member States concerned.
Ta uredba vsebuje neizčrpen seznam tovrstnih storitev, da bi bilo CDD omogočeno, da se odzovejo na prihodnje premike na trgih.
In accordance with Article 114(2) TFEU, the power to adopt measures under Article 114(1) does not apply to fiscal provisions.
Če opravljanje takšnih storitev zadeva obveznosti odtegljaja in poročanja davčnim organom, bo še naprej potekalo v skladu s pravom zadevnih držav članic.
In its judgement of 29 April 2004 in Case C-338/01 Commission v Council [13], the Court of Justice of the European Union held that the words ‘fiscal provisions’ are to be interpreted as ‘covering not only the provisions determining taxable persons, taxable transactions, the basis of imposition, and rates of and exemptions from direct and indirect taxes, but also those relating to arrangements for the collection of such taxes.’
V skladu s členom 114(2) PDEU se pooblastilo za sprejemanje ukrepov iz člena 114(1) ne uporablja za davčne določbe.
This Regulation does not therefore cover arrangements for the collection of taxes for which a different legal basis would need to be used.
V svoji sodbi z dne 29. aprila 2004 v zadevi C-338/01, Komisija proti Svetu [13], je Sodišče Evropske unije razsodilo, da je treba pojem „davčne določbe“ razlagati tako, da veljajo za davčne zavezance, obdavčljive posle, davčno osnovo, stopnje in oprostitve neposrednih in posrednih davkov, pa tudi za način njihovega pobiranja.
A CSD intending to outsource a core service to a third party or to provide a new core service or an ancillary service not listed in this Regulation, to operate another securities settlement system, to use another settlement agent or to set up any CSD links that involve significant risks should apply for authorisation following the same procedure as that required for initial authorisation, save that the competent authority should inform the applicant CSD within three months whether authorisation has been granted or refused.
Ta uredba torej ne zajema načina pobiranja davkov, za kar bi bilo treba uporabiti drugačno pravno podlago.
However, CSD links not involving significant risks or interoperable links of CSDs that outsource their services relating to those interoperable links to public entities, such as the members of the ESCB, should not be subject to prior authorisation, but should be notified by the relevant CSDs to their competent authorities.
CDD, ki namerava osnovno storitev oddati v izvajanje tretji strani ali opravljati novo osnovno storitev ali pomožno storitev, ki ni navedena v tej uredbi, upravljati drug sistem poravnave vrednostnih papirjev, uporabljati drugega posrednika za poravnavo ali vzpostaviti kakršne koli povezave med CDD, ki pomenijo znatno tveganje, bi morala zaprositi za dovoljenje po postopku, ki je enak postopku, potrebnemu za začetno dovoljenje, le da bi moral pristojni organ v tem primeru v treh mesecih CDD vložnico obvestiti, da je dovoljenje izdano ali da je vloga zavrnjena.
Where a CSD intends to extend its services to non-banking type ancillary services explicitly listed in this Regulation which do not entail an increase in its risk profile, it should be able to do so following notification to the competent authority of its home Member State.
Povezav med CDD, ki ne pomenijo znatnega tveganja, ali interoperabilnih povezav med CDD, ki storitve, povezane s temi interoperabilnimi povezavami, dajo v izvajanje osebam javnega prava, kot so članice ESCB, ne bi bilo treba predhodno odobriti, vendar bi morale zadevne CDD o njih uradno obvestiti pristojne organe.
CSDs established in third countries should be able to offer their services in the Union, including through the setting-up of a branch.
Kadar CDD namerava svoje storitve nebančne narave razširiti na pomožne storitve, izrecno navedene v tej uredbi, zaradi katerih njen profil tveganja ni slabši, naj bi to lahko storila, potem ko bi o tem uradno obvestila pristojni organ svoje matične države članice.
In order to ensure an appropriate level of safety in the provision of CSD services by third-country CSDs, such CSDs should be subject to recognition by ESMA where they intend to provide certain services listed in this Regulation or to set up a branch in the Union.
CDD s sedežem v tretji državi bi morale imeti možnost ponujati svoje storitve v Uniji, tudi prek ustanovitve podružnice.
Third-country CSDs should be able to set up links with CSDs established in the Union in the absence of such recognition provided that the relevant competent authority does not object.
Da se zagotovi ustrezna raven varnosti pri zagotavljanju storitev CDD tretje države, bi moral take CDD, kadar nameravajo opravljati določene storitve, navedene v tej uredbi, priznati ESMA ali pa bi morale ustanoviti podružnico v Uniji.
In view of the global nature of financial markets, ESMA is best placed to recognise third-country CSDs.
CDD tretjih držav bi morale imeti možnost, da vzpostavijo povezave s CDD s sedežem v Uniji tudi brez tega priznanja, vendar pod pogojem, da zadevni pristojni organ temu ne nasprotuje.
ESMA should be able to recognise third-country CSDs only if the Commission concludes that they are subject to a legal and supervisory framework effectively equivalent to the one provided in this Regulation, if they are effectively authorised, supervised and subject to oversight in their country of establishment and cooperation arrangements have been established between ESMA, the competent authorities and relevant authorities of CSDs.
Glede na to, da so finančni trgi globalni, je ESMA najprimernejši organ za priznavanje CDD tretjih držav.
Recognition by ESMA should be subject to an effective equivalent recognition of the prudential framework applicable to CSDs established in the Union and authorised under this Regulation.
ESMA bi morala imeti možnost, da prizna CDD tretje države le, če Komisija pride do zaključka, da zanje velja pravni in nadzorni okvir, ki je dejansko enakovreden okviru iz te uredbe, če imajo res dovoljenje države njihovega sedeža in jih tam dejansko nadzorujejo ter so med ESMA ter pristojnimi organi in zadevnimi organi CDD sklenjeni dogovori o sodelovanju.
Taking into account the complexity as well as the systemic nature of the CSDs and of the services they provide, transparent governance rules should ensure that senior management, members of the management body, shareholders and participants, who are in a position to exercise control, as defined by reference to the Directive 2013/34/EU, over the operation of the CSD are suitable to ensure the sound and prudent management of the CSD.
Priznanje ESMA bi moralo biti odvisno od dejanskega enakovrednega priznanja bonitetnega okvira, ki se uporablja za CDD, ki imajo sedež v Uniji in pridobijo dovoljenje v skladu s to uredbo.
Different governance structures are used across Member States.
Ob upoštevanju zapletenosti ter sistemske narave CDD in storitev, ki jih te opravljajo, bi bilo treba s preglednimi pravili o upravljanju zagotoviti, da so višje vodstvo, člani upravljalnega organa, delničarji in udeleženci, ki lahko izvajajo nadzor nad delovanjem CDD, kot je opredeljeno s sklicevanjem na Direktivo 2013/34/EU, primerni za zagotavljanje preudarnega in skrbnega upravljanja CDD.
In most cases a unitary or a dual board structure is used.
V državah članicah se uporabljajo različni sistemi upravljanja.
The definitions used in this Regulation are intended to embrace all existing structures without advocating any particular structure.
Večinoma se uporablja enotirni ali dvotirni sistem.
They are purely functional for the purpose of setting out rules aiming to achieve a particular outcome irrespective of the national company law applicable to an institution in each Member State.
V opredelitvah pojmov v tej uredbi se želi zajeti vse obstoječe sisteme, ne da bi se dajala prednost kateremu koli posameznemu sistemu.
The definitions should therefore not interfere with the general allocation of competences in accordance with national company law.
So zgolj funkcionalne narave, saj je njihov namen določiti pravila, ki bi privedla do določenega rezultata ne glede na nacionalno pravo gospodarskih družb, ki se v posamezni državi članici uporablja za institucije.
Transparent governance rules should ensure that the interests of the shareholders, the management and staff of the CSD, on the one hand, and the interests of their users whom CSDs are ultimately serving, on the other, are taken into account.
Opredelitve pojmov torej ne bi smele posegati v splošno porazdelitev pristojnosti v skladu z nacionalnim pravom gospodarskih družb.
Those governance rules should apply without prejudice to the ownership model adopted by the CSD.
S preglednimi pravili o upravljanju naj bi zagotovili, da se upoštevajo interesi delničarjev, vodstva in osebja CDD na eni strani ter interesi uporabnikov, za katere CDD pravzaprav delajo, na drugi.
User committees should be established for each securities settlement system operated by the CSD to give users the opportunity to advise the management body of the CSD on the key issues that impact them and should be given the tools to perform their role.
Ta pravila upravljanja bi se morala uporabljati brez poseganja v model lastništva, ki ga sprejme CDD.
The interests of different users of CSDs, including those of holders of different types of securities, should be represented in the user committee.
Za vsak sistem poravnave vrednostnih papirjev, ki ga upravlja CDD, bi bilo treba ustanoviti odbore uporabnikov, prek katerih bi uporabniki imeli priložnost, da upravljalnemu organu CDD svetujejo o ključnih vprašanjih, ki jih zadevajo, in bi bilo treba tem odborom zagotoviti orodja za izpolnjevanje njihove vloge.
CSDs should be able to outsource the operation of their services provided that the risks arising from such outsourcing arrangements are managed.
V odboru uporabnikov bi bilo treba zastopati interese različnih uporabnikov CDD, vključno z interesi imetnikov različnih vrst vrednostnih papirjev.
Taking into account the significance of the tasks entrusted to CSDs, this Regulation should provide that CSDs do not transfer their responsibilities to third parties through the outsourcing by contract of their activities to third parties.
CDD bi morale imeti možnost, da opravljanje svojih storitev dajo v zunanje izvajanje, vendar pod pogojem, da se obvladujejo tveganja, ki izhajajo iz ureditev o tovrstnem zunanjem izvajanju.
Outsourcing of such activities should be subject to strict conditions that maintain the responsibility of CSDs for their activities and ensure that the supervision and oversight of the CSDs are not impaired.
Ta uredba bi morala ob upoštevanju pomembnosti nalog, zaupanih CDD, zagotoviti, da CDD svojih odgovornosti ne prenašajo na tretje strani tako, da dejavnosti na podlagi pogodbe dajejo v izvajanje tretjim stranem.
It should be possible to exempt outsourcing by a CSD of its activities to a public entity from those requirements under certain conditions.
Za zunanje izvajanje takšnih dejavnosti bi morali veljati strogi pogoji, s katerimi bi CDD ohranile odgovornost za svoje dejavnosti ter ki bi zagotavljali, da nadzor in pregled CDD ne bi bila zmanjšana.
This Regulation should not prevent Member States allowing direct securities holding systems from providing in their national law that parties other than CSDs shall or may perform certain functions, which in some other types of securities holding systems are typically performed by CSDs and specifying how those functions should be exercised.
Oddajanje dejavnosti CDD v izvajanje osebam javnega prava bi moralo biti mogoče pod določenimi pogoji izvzeti iz teh zahtev.
In particular, in some Member States account operators or participants in the securities settlement systems operated by CSDs record entries into securities accounts maintained by CSDs without necessarily being account providers themselves.
Ta uredba državam članicam, ki dovoljujejo sisteme neposrednega lastništva vrednostnih papirjev, ne bi smela preprečiti, da v nacionalnih zakonih določijo, da nekatere funkcije, ki jih pri nekaterih drugih vrstah sistemov hrambe vrednostnih papirjev običajno opravljajo CDD, opravljajo ali smejo opravljati strani, ki niso CDD, ter da predpišejo način izvajanja teh funkcij.
In view of the need for legal certainty on the entries made into accounts at the CSD level, the specific role played by such other parties should be recognised by this Regulation.
Zlasti pa v nekaterih državah članicah vpise na račune vrednostnih papirjev, ki jih vodijo CDD, evidentirajo upravljavci računov ali udeleženci v sistemih poravnave vrednostnih papirjev, ki jih upravljajo CDD, pri čemer ni nujno, da so sami ponudniki računov.
It should therefore be possible, under specific circumstances and subject to strict rules laid down by law, to share the responsibility between a CSD and the relevant other party or to provide for exclusive responsibility by that other party for certain aspects related to maintaining of securities accounts at the top tier level provided that such other party is subject to appropriate regulation and supervision.
Zaradi potrebe po pravni varnosti vpisov v račune na ravni CDD bi bilo treba v tej uredbi priznati posebno vlogo, ki jo imajo tovrstne druge strani.
There should be no restrictions on the extent to which responsibility is shared.
Zato bi bilo treba v posebnih okoliščinah in v skladu s strogimi zakonsko določenimi pravili omogočiti, da si odgovornost delita CDD in zadevna druga stran ali da je za nekatere vidike, povezane z vodenjem računov vrednostnih papirjev na najvišji ravni, izključno odgovorna navedena druga stran pod pogojem, da je predmet ustrezne ureditve in nadzora.
Conduct of business rules should provide transparency in the relations between CSDs and their users.
Nikakor pa ne bi smeli omejevati obsega delitve odgovornosti.
In particular, CSDs should have publicly disclosed, transparent, objective and non-discriminatory criteria for participation in the securities settlement system, which would allow restriction of access by participants only on the basis of the risks involved.
S pravili vodenja poslov bi bilo treba zagotoviti preglednost odnosov med CDD in njihovimi uporabniki.
A quick and appropriate remedy should be made available to competent authorities to address any unjustified refusal of CSDs to provide their services to participants.
CDD bi morale zlasti določiti javno razkrita, pregledna, objektivna in nediskriminatorna merila za udeležbo v sistemu poravnave vrednostnih papirjev, ki bi dovolila, da se dostop udeležencev omeji le na podlagi prisotnih tveganj.
CSDs should publicly disclose prices and fees for their services.
Pristojni organi bi morali imeti na voljo hitro in primerno sredstvo za obravnavanje vsakega primera, ko bi CDD neupravičeno zavrnile opravljanje storitev za udeležence.
In order to provide open and non-discriminatory access to their services and in view of the significant market power that CSDs still enjoy in the territory of their respective Member States, CSDs should not be able to diverge from their published pricing policy for their core services and should maintain separate accounts for the costs and revenues associated with each of their core services and with their ancillary services.
CDD bi morale javno razkriti cene in provizije za svoje storitve.
Those participation provisions complement and reinforce the right of market participants to use a settlement system in another Member State provided for in Directive 2014/65/EU.
Zaradi zagotovitve odprtega in nediskriminatornega dostopa do storitev CDD ter glede na veliko tržno moč, ki jo CDD še vedno imajo na ozemlju svojih držav članic, CDD ne bi smele možnosti odstopiti od svoje objavljene cenovne politike za svoje osnovne storitve ter bi morale ohraniti ločene račune za stroške in prihodke, povezane z vsako od njihovih osnovnih storitev in z njihovimi pomožnimi storitvami.
In order to facilitate efficient recording, settlement and payment, CSDs should accommodate in their communication procedures with participants and with the market infrastructures they interface with, the relevant international open communication procedures and standards for messaging and reference data.
Te določbe o udeležbi dopolnjujejo in krepijo pravico udeležencev na trgu, da uporabljajo sistem poravnave v drugi državi članici, kot je določeno v Direktivi 2014/65/EU.
Taking into account the central role of securities settlement systems in the financial markets, CSDs should, when providing their services, make best efforts to ensure the timely settlement of securities transactions and the integrity of the securities issue.
Da bi omogočili učinkovito evidentiranje, poravnavo in plačevanje, bi morale CDD v svojih komunikacijskih postopkih z udeleženci in tržnimi infrastrukturami, s katerimi se povezujejo, uporabljati ustrezne mednarodne odprte komunikacijske postopke in standarde za pošiljanje sporočil in referenčne podatke.
This Regulation should not interfere with the national law of the Member States regulating the holdings of securities and the arrangements maintaining the integrity of securities issues.
Ob upoštevanju osrednje vloge sistemov poravnave vrednostnih papirjev na finančnih trgih bi si morale CDD pri opravljanju svojih storitev čim bolj prizadevati za zagotovitev pravočasne poravnave poslov z vrednostnimi papirji in celote izdaje vrednostnih papirjev.