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ACTIVITY ON KEEPING A REGISTER OF NOMINAL SECURITIES - means the activity on collection, registration, processing and storage of data with the aim of establishment of a register of nominal securities’ holders. (Law on the securities market (No.199-XIV of 18.11.1998), Law on joint-stock companies (No. 1134-XIII of 02.04.1997), Regulations on the shareholders’ register and register of obligations’ holders of a joint-stock company (of 16,03,2007).
BROKERAGE ACTIVITY - means the activity, fulfilled by a broker, which is a professional participant of the securities market, as an agent or intermediary, on implementing transactions on buying and selling securities, acting on the basis of an agency or commission contract, as well as a proxy on execution of the above transactions, in case if the contract does not stipulate authorization of the agent or intermediary. (Regulations of the Stock Exchange of Moldova (Decision No.17/5 of 19.05.2000, NSC), Regulations of the National Securities Depository of Moldova of 20.02.1998, Law on the securities market (No.199-XIV of 18.11.1998))
CS (corporate security) – a financial title, which confirms a property or non-property rights of a person with respect to the other person, which can not be realized or transferred without presentation of this financial title, without the respective record in the register of nominal securities’ holders or in the bookkeeping documents of the nominal holder of these securities. (Law on the securities market (No.199-XIV of 18.11.1998).
Dealer ACTIVITY - means the activity fulfilled by a dealer, which is a professional participant of the securities market, with the aim of buying securities, in its own name and on own account, for their subsequent selling for the purpose of gaining profit. (Regulations of the Stock Exchange of Moldova (Decision No.17/5 of 19.05.2000, NSC), Regulations of the National Securities Depository of Moldova of 20.02.1998, Law on the securities market (No.199-XIV of 18.11.1998))
Investment consulting – advice on one or more securities transactions, given to a Customer by the professional participant of the securities market under the investment consulting agreement.
NATIONAL SECURITIES DEPOSITORY OF MOLDOVA (NSDM) – a professional participant of the securities market, rendering services on record keeping with regard to depositors’ rights on securities, on clearing and settlement of transactions, implemented at SEM. (Regulations of the Stock Exchange of Moldova (Decision No.17/5 of 19.05.2000, NSC), Regulations of the National Securities Depository of Moldova of 20.02.1998, Law on the securities market (No.199-XIV of 18.11.1998))
NOMINAL SECURITIES’ HOLDER - a professional participant of the securities market, which is a holder of securities by order of another person and which is not their owner. The nominal holders may be brokers/dealers, trust companies, depositories, other professional participants of the securities market, according to the legislation in force. (Provisional instruction on keeping a register by a nominal securities holder (Decision No.36-4 of 16.05.1998, NCSC, decision nr. 15/1 from 16.03.2007))
SETTLEMENT BANK– means a banking institution, authorized by the National Bank of Moldova to implement the financial activity, where all members of the Stock Exchange have their current accounts, and through which monetary settlements of transactions, implemented within the Stock Exchange, are effected, including the ones, executed through the NSDM. (Regulations of the Stock Exchange of Moldova (Decision No.17/5 of 19.05.2000, NSC), Regulations of the National Securities Depository of Moldova of 20.02.1998, Law on the securities market (No.199-XIV of 18.11.1998))
STOCK EXCHANGE OF MOLDOVA (seM) – a non-commercial closed joint-stock company, which is a self-governing organization, implementing the stock-exchange activity in the securities market in accordance with provisions of the Law on the securities market (No 199-XIV of 18.11.1998), the SEM’s Charter and Regulations of the Stock Exchange of Moldova (Decision No.17/5 of 19.05.2000, NSC), Regulations of the National Securities Depository of Moldova of 20.02.1998)
Underwriting activity– intermediate activity relating to emissions, implemented in the name of the issuer, with the aim of promotion of the primary public offer and placement of securities of the issuer. The underwriter operates based on the underwriting contract, concluded with the issuer. (Law on the securities market (No.199-XIV of 18.11.1998))
REGISTER OF NOMINAL SECURITIES’ HOLDERS – a unified system of records, containing information on every client and allowing identification of the respective persons, as well as the number, type and issuer of securities, owned by each client.
REPO TRANSACTION – means a transaction on granting a loan, which is secured by a temporary transfer into the creditor’s ownership of the debtor’s securities, on condition of their redemption on expiration of term of the loan and payment of interest payable on this loan.
TAXATION:
The interest on Government Securities is not taxable until the 1 January 2015 (According to the Law 1164-XIII of 24.04.1997 on application of parts I and II of the Fiscal Code)
taxATION: In accordance with the Fiscal Code (FC), the income gained from operations with state securities (SS) is subject to taxation as provided below:
a) for individuals, except for peasant farms (agricultural farms) and individual entrepreneurs, in amount of: – 7% of the annual taxable income that does not exceed the amount of 25,200 lei ; – 18% of the annual taxable income that exceeds the amount of 25,200 lei; b) for legal entities - 0% of the taxable income; c) for peasant farms (agricultural farms) and individual entrepreneurs – 0% of the taxable income. The amount of capital increase in the fiscal year is equal to 50% of the excess amount of capital increase recognized above the level of any capital losses incurred during the fiscal year (Article 37(7) of the FC); The income of non-residents obtained in the form of dividends is subject to taxation in amount of 15% (Article 91 of the FC); VICTORIABANK withholds, in advance, as part of taxation, an amount of 5% of the amount of taxes to be paid by the individuals (Article 90 of the FC). GS (government securities)- means a form of the state debt, representing a short, medium or long term loan contract with the value, expressed in the national or other legitimate currency, between the Republic of Moldova as a debtor and an individuals or legal entities as creditors. The issuance of GS is implemented by the Ministry of Finance of the Republic of Moldova in the form Treasury Bonds, Cash Management Bills and State Bonds with the nominal value of 100 lei. (Regulations of the NBM "On the electronic system of records in accounts of immaterial government securities" No..9/08 of 02.02.1996, Regulations of the NBM "On the open market operations of the National Bank of Moldova" No..57 of 11.09.1997)
TREASURY BONDS - GS issued with a discount and redeemed at maturity at their nominal value, with the term of circulation constituting 28, 91, 182, 273, or 364 days.
cash management bills – GS issued with a discount and redeemed at maturity at their nominal value, with the maturity not less than one day and not more than 364 days, the term of circulation is indicated in the official Communiqué on Issuance of GS.
STATe BONDs – government securities with the term of 365 days or more, with the fixed or floating interest rate, which is paid periodically by the issuer, according to conditions of the issuance, and redeemed at their nominal value at maturity. State bonds can be sold at their nominal value or at a price lower than nominal (with a discount) or higher than nominal (with a premium).
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