natgillin/translations-raw huggingface dataset:
Na podlagi teh informacij in ob upoštevanju nasveta Evropskega odbora za sistemska tveganja lahko Evropski organ za vrednostne papirje in trge določi, da finančni vzvod, ki ga uporablja UAIS ali skupina UAIS, znatno ogroža stabilnost in celovitost finančnega sistema, in lahko določi popravne ukrepe, ki jih je treba sprejeti (vključno z omejitvijo ravni finančnih vzvodov, ki jih ta UAIS ali ta skupina UAIS lahko uporabi).
On the basis of this information, and after taking into account the advice of the ESRB, ESMA may determine that the leverage employed by an AIFM , or by a group of AIFM, poses a substantial risk to the stability and integrity of the financial system and may specify the remedial measures to be taken (including limits to the level of leverage, which that AIFM, or that group of AIFMs, can employ).
Evropski organ za vrednostne papirje in trge Komisijo in pristojne organe nemudoma obvesti o vsaki taki določitvi.
ESMA shall immediately inform the Commission and the competent authorities concerned of any such determination .
Pri zagotovitvi, da so meje finančnega vzvoda, ki jih določi UAIS, razumne, vsaka država članica zagotovi, da njen pristojni organ upošteva naslednja merila:
In ensuring that the leverage limits set by an AIFM are reasonable each Member State shall ensure that its competent authority takes into consideration the following criteria:
(a) obseg, v katerem take meje ne povečajo sistemskega tveganja;
(a) the extent to which such limits do not increase systemic risk;
(b) izpostavljenost nasprotnih strank;
(b) the exposure of counterparties;
(c) verjeten vpliv na trge, na katerih deluje zadevni UAIS;
(c) the likely impact on the markets on which the AIFM concerned operates;
(d) meje, ki jih države članice upoštevajo pri podobnih vrstah skladov;
(d) the limit observed in other Member States for similar types of funds;
(e) splošen vpliv dovoljenega finančnega vzvoda na gospodarstvo;
(e) the overall impact of permitted leverage on the economy.
(f) v primeru AIS zasebnega kapitala in pridobitve v okviru člena 26 razmerje med finančnim dolgom, uporabljenim za pridobitev deleža, ter dobičkom pred obrestmi, davki in amortizacijo.
(f) in the case of a private equity AIF and an acquisition within the scope of Article 26, the ratio of financial debt used for the acquisition to earnings before interest, taxes, depreciation and amortisation.
Evropski organ za vrednostne papirje in trge sprejme smernice za minimalne zahteve, ki jih morajo pristojni organi upoštevati pri ocenjevanju teh meril.
ESMA shall adopt guidelines on minimum requirements that the competent authorities are bound to follow when assessing such criteria.
Če Evropski organ za vrednostne papirje in trge sprejme določitev v skladu z odstavkom 2b, pristojni organ matične države članice katerega koli UAIS, za katerega velja ta določitev, izvede odločitev Evropskega organa za vrednostne papirje in trge.
In the event that ESMA makes a determination under paragraph 2b the competent authority of the home Member State of any AIFM the subject of such a determination shall implement the decisions of ESMA.
Za zagotovitev stabilnosti in celovitosti finančnega sistema ter spodbujanje dolgoročne in trajnostne gospodarske rasti Komisija sprejme delegirane akte v skladu s členi 49a, 49b in 49c za določitev parametrov, po katerih lahko Evropski organ za vrednostne papirje in trge sprejme določitev v skladom z odstavkom 2b .
In order to ensure the stability and integrity of the financial system and promote long-term sustainable growth of the economy , the Commission shall adopt delegated acts in accordance with Articles 49a, 49b and 49c setting the parameters under which ESMA may make a determination under paragraph 2b .
4. ▌Ukrepi Evropskega organa za vrednostne papirje in trge ter pristojnih organov matične države članice v skladu s tem členom so začasni in ▌ skladni z delegiranimi akti , ki jih je Komisija sprejela v skladu z odstavkom 3.
4. ▌Measures taken by ESMA and the competent authorities of the home Member States pursuant to this Article shall be temporary ▌ and shall be consistent with the delegated acts adopted by the Commission pursuant to paragraph 3.
Oddelek 2: obveznosti za uais, ki upravljajo ais, ki pridobijo POMEMBEN DELEŽ ali kontrolni vpliv v podjetjih
section 2: obligations for aifm managing aif which acquire A SIGNIFICANT INTEREST OR A controlling influence in companies
Člen 26 Področje uporabe
Article 26 Scope
Ta oddelek se uporablja za:
This section shall apply to the following:
(a) UAIS, ki upravljajo enega ali več AIS, ki bodisi posamično ali združeni pridobijo kontrolni vpliv, na primer ko pridobijo 10 %, 20 %, 30% ali 50 % ali več glasovalnih pravic , nad izdajateljem ali podjetjem , ki ne kotira na borzi in ima sedež v Uniji , če je to primerno;
(a) AIFM managing one or more AIF which either individually or in aggregation acquires controlling influence, for example, when acquiring 10%, 20%, 30% or 50% or more of the voting rights, over an issuer or over a non-listed company established in the Union , as appropriate;
(b) UAIS, ki so sklenili dogovor z enim ali več drugimi UAIS, ki bi AIS, ki jih ti UAIS upravljajo, omogočili pridobitev kontrolnega vpliva (na primer ko pridobijo 10 %, 20 %, 30 % ali 50 % ali več glasovalnih pravic) na izdajatelja ali na podjetje , ki ne kotira na borzi, če je to primerno.
(b) AIFM having concluded an agreement with one or more other AIFM which would allow the AIF managed by these AIFM to acquire controlling influence, for example, when acquiring 10 %, 20 %, 30 % or 50 % or more of the voting rights, over an issuer or over a non-listed company, as appropriate.
Podjetja, ki ne kotirajo na borzi in so pod nadzorom UAIS, spoštujejo določbe o razkritju podatkov zadevne zakonodaje Unije in nacionalne zakonodaje.
Non-listed companies controlled by AIFM shall comply with relevant Union and national company law on disclosure.
Ta oddelek se ne uporablja, kadar ▌ zadevno podjetje, ki ne kotira na borzi – vključno z odvisnimi družbami – , zaposluje manj kot 50 oseb ▌ .
This section shall not apply where the ▌ non-listed company concerned – including depended companies - employs fewer than 50 persons ▌.
Ta oddelek se uporablja v skladu s členom 6 Direktive 2002/14/ES.
This section shall apply in accordance with Article 6 of Directive 2002/14/EC.
Člen 27 Priglasitev pridobitve
Article 27 Notification of the acquisition of
pomembnega in kontrolnega vpliva v podjetjih, ki ne kotirajo na borzi
significant and controlling influence in non-listed companies
Države članice zagotovijo, da če ima UAIS kontrolni vpliv na podjetje , ki ne kotira na borzi, takšen UAIS podjetju, ki ne kotira na borzi, in vsem drugim delničarjem, posreduje informacije iz odstavka 2.
Member States shall ensure that where an AIFM is in a position to exercise controlling influence over a non-listed company, such AIFM notifies the non-listed company and all other share-holders of the information provided for in paragraph 2.
Države članice zagotovijo, da kadar UAIS, ki deluje sam ali skupaj z drugimi, prek enega ali več AIS, ki jih upravlja, pridobi 10 %, 20 %, 30 % ali 50 % glasovalnih pravic za izdajatelja ali podjetje, ki ne kotira na borzi, posreduje informacije iz odstavka 2 izdajatelju ali podjetju, ki ne kotira na borzi, kot je primerno, predstavnikom njegovih zaposlenih ali zaposlenim, če takih predstavnikov ni, pristojnim organom UAIS in pristojnim organom držav članic, kjer ima izdajatelj ali podjetje, ki ne kotira na borzi, sedež.
Member States shall ensure that when an AIFM, acting alone or in concert, comes to hold, through one or several AIF that it manages, 10 %, 20 %, 30 % or 50 % of the voting rights of an issuer or a non-listed company, it shall notify to the issuer or the non-listed company, as appropriate, its employee representatives or, where there are no such representatives, the employees themselves, the competent authority of the AIFM and the competent authority of the Member State where the issuer or the non-listed company is established, the information provided for in paragraph 2.
Te priglasitve se izvedejo čim prej, vendar najpozneje peti delovni dan, pri čemer je prvi dan tisti dan, na katerega je UAIS dosegel zadevni prag.
These notifications shall be made as soon as possible, but not later than five working days the first of which being the day on which the AIFM has reached the relevant threshold .
Priglasitev iz odstavka 1 vsebuje naslednje podatke:
The notification required under paragraph 1 shall contain the following information:
(a) nastale razmere glede glasovalnih pravic;
(a) the resulting situation in terms of voting rights;
(b) pogoje, pod katerimi je bil dosežen zadevni prag, vključno z informacijami o popolni identifikaciji različnih udeleženih UAIS, AIS in delničarjev, oseb, ki delujejo v dogovoru z njimi, vseh fizičnih ali pravnih oseb, ki so pooblaščene za glasovanje v njihovem imenu, in po potrebi verige podjetij, prek katerih dejansko imajo glasovalne pravice ;
(b) the conditions under which the relevant threshold has been reached, including information about the full identification of the different AIFM, AIF and shareholders involved and of persons acting in concert with them, any natural person or legal entity entitled to exercise voting rights on their behalf and, if applicable, the chain of undertakings through which voting rights are effectively held ;
(c) datum, na katerega je bil dosežen oziroma presežen zadevni prag.
(c) the date on which the relevant threshold was reached or exceeded.
Kapitalska ustreznost ciljnih podjetij
Capital adequacy in target companies
Da se prepreči morebitna odprodaja podjetja po delih, čista vrednost premoženja ciljnega podjetja, ki ga nadzira AIS, ustreza določbam sistema kapitalske ustreznosti iz druge direktive o pravu družb.
In order to avoid potential asset-stripping, the net assets of a target company controlled by an AIF shall comply with the provisions of the capital adequacy regime under the Second Company Law Directive.
Člen 28 Razkritje v primeru pridobitve kontrolnega vpliva v izdajateljih ali podjetjih, ki ne kotirajo na borzi
Article 28 Disclosure in case of acquisition of controlling influence in issuers or non-listed companies
Poleg določb iz člena 27 države članice zagotovijo, da če UAIS , ki deluje sam ali skupaj z drugimi UAIS, pridobi kontrolni vpliv nad izdajateljem ali podjetjem, ki ne kotira na borzi, z izjemo skladov zaprtega tipa, ta UAIS informacije iz drugega in tretjega pododstavka čim prej sporoči pristojnemu organu UAIS in pristojnemu organu države članice, v kateri ima sedež izdajatelj ali podjetje, ki ne kotira na borzi, izdajatelju, podjetju, ki ne kotira na borzi, zadevnim delničarjem in predstavnikom delavcev ali, kjer takih predstavnikov ni, delavcem samim.
In addition to Article 27, Member States shall ensure that where an AIFM , acting alone or in concert with other AIFM, acquires controlling influence over an issuer or a non-listed company excluding closed-end funds , that AIFM notifies the information referred to in the second and third subparagraphs as soon as possible to the competent authority of the AIFM and the competent authority of the Member State where the issuer or the non-listed company is established , to the issuer, the non-listed company, their respective shareholders and representatives of employees or, where there are no such representatives, to the employees themselves .
V zvezi z izdajatelji UAIS zadevnemu izdajatelju, njegovim delničarjem in predstavnikom njegovih zaposlenih da na voljo informacije iz člena 6(3) Direktive 2004/25/ES.
With regard to issuers, the AIFM shall make available to the issuer concerned, its shareholders and representatives of employees the information referred to in Article 6(3) of Directive 2004/25/EC.
V zvezi z izdajatelji in podjetji, ki ne kotirajo na borzi, da UAIS na voljo:
With regard to issuers and non-listed companies, the AIFM shall make available:
(a) načrtovane večje odsvojitve premoženja;
(a) planned significant divestments of assets;
(b) politiko preprečevanja in obvladovanja nasprotij interesov, zlasti med UAIS in izdajateljem;
(b) the policy for preventing and managing conflicts of interests, in particular between the AIFM and the issuer;
(c) politiko za zunanje in notranje komuniciranje izdajatelja, zlasti v zvezi z zaposlenimi;
(c) the policy for external and internal communication of the issuer in particular as regards employees;
(d) identiteto UAIS, ki je bodisi sam ali v dogovoru z drugimi UAIS dosegel kontrolni vpliv ;
(d) the identity of the AIFM which either individually or in agreement with other AIFM have reached a controlling influence ;
(f) politiko preprečevanja in obvladovanja nasprotij interesov, zlasti med UAIS in podjetjem, ki ne kotira na borzi;
(f) the policy for preventing and managing conflicts of interests, in particular between the AIFM and the non-listed company;
(g) osebo oz. osebe, ki so pristojne za sklepanje pravnih sporazumov v zvezi s strategijo podjetja in politiko zaposlovanja.
(g) the person or persons authorised to conclude legally binding agreements relating to business strategy and employment policy.
Če UAIS, ki deluje sam ali skupaj z drugimi, pridobi kontrolni vpliv, ciljno podjetje predstavnike svojih delavcev ali, kjer takih predstavnikov ni, delavce same izčrpno in pravočasno obvesti o prevzemu in o tem, ali in v kolikšni meri je poslovanje ogroženo, tako da predloži vso zadevno dokumentacijo iz člena 9(5) Direktive 2004/25/ES, če je to primerno.
Where an AIFM, acting alone or in concert, has reached the position of being able to exercise controlling rights, the target company shall inform the representatives of its employees or, where there are no such representatives, the employees themselves, comprehensively and in due time about the take-over, through the submission of all relevant documentation referred to in Article 9(5) of Directive 2004/25/EC as appropriate, if and to the extent to which the conduct of business is not jeopardised.
Posebne določbe v zvezi z letnim poročilom AIS, ki ima kontrolni vpliv v izdajateljih ali podjetjih, ki ne kotirajo na borzi
Specific provisions regarding the annual report of AIF exercising controlling influence in issuers or non-listed companies
Države članice zagotovijo, da UAIS v letno poročilo iz člena 19 za vsak AIS, ki ga upravlja, vključi dodatne informacije iz odstavka 2 tega člena.
Member States shall ensure that AIFM include in the annual report provided for in Article 19 for each AIF that they manage, the additional information provided in paragraph 2 of this Article.
Letno poročilo AIS vključuje naslednje dodatne informacije za vsakega izdajatelja in podjetje, ki ne kotira na borzi, v katerem ima AIS kontrolni vpliv :
The AIF annual report shall include the following additional information for each issuer and non-listed company in which the AIF has a controlling influence :
(a) v zvezi s finančnim razvojem dogodkov, kapitalsko strukturo, vključno s predstavitvijo prihodkov in dobičkov po poslovnih segmentih, izjavo o napredku podjetja na področju finančnih zadev, oceno pričakovanega napredka na področju finančnih zadev in poročilom o pomembnih dogodkih v poslovnem letu, raziskovalne in razvojne dejavnosti ;
(a) with regard to financial developments, capital structure, including presentation of revenue and earnings by business segment, statement on the progress of company's financial affairs, assessment of expected progress on financial affairs, report on significant events in the financial year , research and development efforts ;
(b) v zvezi s finančnimi in drugimi tveganji vsaj finančna tveganja, povezana s strukturo kapitala;
(b) with regard to financial and other risks, at least financial risks associated with capital structure;
(c) v zvezi z zaposlenimi fluktuacijo, prekinitve pogodb o delu in sklenitve pogodb o delu , politiko prejemkov in druge pogoje zaposlovanja ;
(c) with regard to employee matters, turnover, terminations, recruitment , remuneration policy and other conditions of employment ;
(d) izjavo o pomembnih odsvojitvah premoženja ;
(d) statement on significant divestment of assets ;
(da) vsako okoljsko politiko;
(da) any environment policy;
(db) vse pakete nadomestil za vodstvo;
(db) any management compensation package;
(dc) ob prodaji ceno ponovne prodaje in znesek dobička;
(dc) upon sale, the resale price and amount of the profit;
(dd) vse bistvene spremembe lokacije poslovne enote izdajatelja ali zasebnega podjetja, ko pride do take spremembe.
(dd) any material changes to the locations of the issuer’s or private company’s places of business once the change has occurred.
Poleg tega letno poročilo AIS za vsakega izdajatelja, v katerem ima UAIS kontrolni vpliv v smislu člena 28 , vsebuje:
In addition, the AIF annual report shall, for each issuer in which an AIFM exercises a controlling influence within the meaning or Article 28, set out:
(a) sestavo in delovanje administrativnih, poslovodnih in nadzornih organov ter njihovih odborov;
(a) the composition and operation of the administrative, management and supervisory bodies and their committees;
(b) podrobne informacije o imetnikih vseh vrednostnih papirjev s posebnimi kontrolnimi pravicami in opis teh pravic;
(b) detailed information on the holders of any securities with special control rights and a description of those rights;
(c) ali so delnice prinosniške ali imenske, kadar nacionalna zakonodaja predvideva obe vrsti, in vse določbe v zvezi s preoblikovanjem takih delnic, razen če je postopek predpisan z zakonom;
(c) whether the shares are registered or to the bearer, where national law provides for both types, and any provisions relating to the conversion of such shares unless the procedure is laid down by law;
(d) znesek vpisanega kapitala, vplačanega ob ustanovitvi družbe ali ob pridobitvi dovoljenja za začetek opravljanja dejavnosti.
(d) the amount of the subscribed capital paid up at the time the company is incorporated or is authorised to commence business.
UAIS za vsak AIS, ki ga upravljajo in za katerega se uporablja ta oddelek, v obdobju iz člena 19(1) vsem predstavnikom delavcev zadevnega podjetja iz člena 26(1), pristojnemu organu UAIS in pristojnemu organu države članice, kjer ima sedež izdajatelj ali podjetje, ki ne kotira na borzi, zagotovijo informacije iz odstavka 2 ▌.
The AIFM shall, for each AIF it manages and for which it is subject to this section, provide the information referred to in paragraph 2 ▌ to all representatives of employees of the company concerned referred to in Article 26(1) , to the competent authority of the AIFM and to the competent authority of the Member State where the issuer or the non-listed company is established, within the period referred to in Article 19(1)
Člen 30Posebne določbe v zvezi s podjetji, katerih delnice niso več uvrščene v trgovanje na organiziranem trgu
Article 30Specific provisions regarding companies whose shares are no longer admitted to trading on a regulated market
Če po pridobitvi kontrolnega vpliva na izdajatelja ali zagotovitvi pomembnega vpliva nanj delnice tega izdajatelja niso več uvrščene v trgovanje na organiziranem trgu, še vedno velja obveznost izpolnjevanja obveznosti po Direktivi 2004/109/ES, in sicer eno leto od datuma umika z organiziranega trga.
Where, following an acquisition of a controlling influence, or the securing of a significant influence, over of an issuer, the shares of that issuer are no longer admitted to trading on a regulated market, it shall nevertheless continue to comply with its obligations under Directive 2004/109/EC for one year from the date of withdrawal from the regulated market.
Zagotavljanje storitev upravljanja in trženja s strani UAIS
Provision of management and marketing services by AIFM
UAIS, ki ima dovoljenje, lahko trži deleže ali enote AIS profesionalnim vlagateljem v matični državi članici, in sicer, ko so izpolnjeni pogoji iz tega člena.
An authorised AIFM may market shares or units of AIF to professional investors in the home Member State as soon as the conditions laid down in this Article are met.
UAIS pristojne organe v matični državi članici obvesti o vsakem AIS, ki ga namerava tržiti.
The AIFM shall submit a notification to the competent authorities of its home Member State in respect of each AIF that it intends to market.
To obvestilo zajema naslednje:
That notification shall comprise the following:
(a) opredelitve AIS, ki ga namerava tržiti, in informacije o tem, kje ima(jo) AIS sedež;
(a) identification of the AIF it intends to market and information on where the AIF are established ;
(b) pravila upravljanja AIS ali ustanovno listino;
(b) the AIF rules or instruments of incorporation;
(ba) identiteto depozitarja AIS;
(ba) identification of the depositary of the AIF;
(c) opis AIS ali vse informacije o AIS, ki so na voljo vlagateljem;
(c) a description of, or any information on the AIF available to investors;
(d) informacij o ureditvah, vzpostavljenih za preprečevanje, da bi se enote ali deleži tega AIS tržili malim vlagateljem, vključno za primer, ko se UAIS opira na dejavnosti neodvisnih subjektov v zvezi z zagotavljanjem investicijskih storitev za njegov(e) AIS.
(d) information on the arrangements established to prevent units or shares of that AIF from being marketed to retail investors, including in the case where the AIFM relies on activities of independent entities to provide investment services in respect of its AIF.
Najpozneje 20 delovnih dni po prejemu popolnega obvestila v skladu z odstavkom 2 pristojni organi matične države članice obvestijo UAIS, ali lahko začne tržiti AIS, opredeljen v obvestilu iz odstavka 2.
No later than 20 working days after receipt of a complete notification pursuant to paragraph 2, the competent authorities of the home Member State shall inform the AIFM whether it may start marketing the AIF identified in the notification referred to in paragraph 2.
Pod pogojem delegiranih aktov iz tretjega pododstavka lahko v skladu s tem členom pristojni organi naložijo omejitve ali pogoje glede trženja AIS.
Subject to the delegated acts referred to in the third subparagraph, the competent authorities may impose restrictions or conditions on the marketing of AIF pursuant to this Article.
Komisija lahko sprejme delegirane akte v skladu s členi 49a, 49b in 49c, ki opredeljujejo vrste omejitev ali pogojev, ki se lahko v skladu z drugim pododstavkom tega odstavka naložijo glede trženja AIS. ▌
The Commission shall adopt delegated acts in accordance with Articles 49a, 49b and 49c specifying the types of restrictions or conditions that can be imposed on the marketing of AIF pursuant to the second subparagraph of this paragraph. ▌
Brez poseganja v člen 32(1) države članice zagotovijo, da se AIS, ki jih upravljajo UAIS, tržijo le profesionalnim vlagateljem.
Without prejudice to Article 32(1), Member States shall ensure that AIF managed by AIFM are only marketed to professional investors.
Ob upoštevanju poglavja VII se ta člen uporablja, če ima AIS sedež v Uniji ali v tretji državi.
Subject to Chapter VII, this Article shall apply whether the AIF is established in the Union or in a third country.
Člen 32Možnost držav članic, da trženje AIS dovolijo tudi malim vlagateljem
Article 32Option for Member States to allow the marketing of AIF to retail investors
Države članice lahko na svojem ozemlju dovolijo trženje AIS malim vlagateljem.
Member States may allow the marketing of AIF to retail investors in their territory.
Države članice lahko UAIS ali AIS v ta namen naložijo strožje zahteve.
Member States may for that purpose impose stricter requirements on AIFM or the AIF.
Evropski organ za vrednostne papirje in trge bi moral v ta namen izdati smernice.
ESMA shall for that purpose issue guidelines.
Države članice ne dovolijo trženja AIS malim vlagateljem na svojem ozemlju, če ta AIS vloži več kot 30 % v druge AIS, ki nimajo evropske enotne licence za trženje.
Member States shall not allow the marketing of AIF to retail investors in their territory, when an AIF invests more than 30 % in other AIF which do not benefit from the Europe an marketing passport.