lawofgeorgiaonsecuritiesmarket.docVIP

Law of Georgia on Securities Market The purpose of the present Law is to develop securities market in Georgia, to protect the investors interests on securities market, to ensure the transparency of issuers information during the securities offering and public trading in securities as well as to establish fair and transparent public trading in securities and free competition. Chapter I. General Provisions Article 1. Scope of Application Transactions connected with securities are regulated by the present Law, Georgias Civil Code and other legislation acts of Georgia. The regulations for issuance or public offering of government securities on behalf of the State of Georgia, as well as the public trading of government securities off as Stock [Amendment, April 30, 1999] Exchange by banks shall be defined separately. Disposal of government property is regulated by the Law on Privatization of State Owned Property; The present Law regulates transactions connected with the securities public offering and circulation, defines the rules of activities and responsibilities of Stock Exchanges, Central Depository, other Self-Regulated Organizations, Securities Registrars, Brokerage Companies, brokers on the securities market, as well as additional requirements regarding rules of activities and responsibilities of those enterprises, whose securities are publicly offered and sold; This Law establishes the rules for formation of the National [Amendment, April 30, 1999] Securities Commission and its responsibilities. Article 2. Definitions of Terms Wherever used in this Law, the following terms shall have the following meanings: Advertisement means advertising done in any publication by way of display of notices, signs, labels or business cards; by means of circulars, catalogues, price lists or other documents; by an exhibition of pictures or photographic or cinematography films; by way of sound broadcasting or television or computer; by the distribution of recordings; or in