Centrálny depozitár cenných papierov SR. a.s. starts registering SJCs
Starting May 2021, Centrálny depozitár cenných papierov SR. a.s (CDCP) has begun registering shares and providing services for simple joint-stock companies (SJC). The SJC legal form combines the features of a joint-stock company and a limited company. The legal form should ease market entry conditions for newly established start-up companies in developing sectors, which themselves are unable to obtain financing through banks. The relationship between shareholders is determined in the agreement stipulating conditions of share transfers and rights to shares.
The shares of SJC can be issued in book-entry form and shall be registered in segregated owners’ accounts as they cannot be held under nominee account structure.
CDCP will administer the register of shareholders of SJC, register of rights to join transfer of shares and register of rights to demand transfer of shares. The former will be publicly available on the CDCP website.
The changes related to SJC have been incorporated into CDCP’s Operational rules and Tariffs valid since May 1, 2021.
