9. TRANSITIONAL AND FINAL PROVISIONS
9.1. The data on the bonds issued by the Republic of
Macedonia for the payment of the citizens' foreign exchange savings deposits
guaranteed by the Republic of Macedonia and on their holders, maintained by
the Payment Operations Bureau in accordance with the Decision for
authorization of an institution which will perform the operations of a
Register of bonds in dematerialized form (Official Gazette of the Republic
of Macedonia No. 40/2000) shall be transferred to the Central Securities
Depository, in a manner and procedure established by these Rules, the
Guidelines of the Depository and the Rule Book on the contents, manner and
procedure for keeping the Register of bonds in dematerialized form for the
citizens' foreign exchange savings deposits guaranteed by the Republic of
Macedonia (Official Gazette of the Republic of Macedonia No 75/2000).
9.2. The Depository shall open an account of the bonds
issuer-Republic of Macedonia, with condition on the day of the takeover of
the Register of Bonds.
The Payment Operations Bureau will transfer the changes previously
occurred in the Register of Bonds to the Depository, as documents of
permanent value.
9.3. By opening an account of the issuer, the Depository will
enact closer regulations, by which it will regulate the issues referring to
the operations with these bonds.
9.4. By opening an account of the issuer, the Depository will
open accounts of all the bonds holders, provided that they have not already
opened securities account on another basis.
9.5. The rights and obligations of the Payment Operations
Bureau related to the transactions with bonds shall be entirely taken over
by the Depository, provided that it has not been otherwise stipulated by
Law, Decision of the Government of the Republic of Macedonia and these
Rules.
9.6. After the takeover of the bonds referred to in item 9.1,
the Depository shall ensure that the procedures and the manner of operations
with the participants in the operations of the Depository, issuer and bond
holders are performed in an appropriate manner, which will enable them to
exercise smoothly their rights stipulated by the Law on the manner and
procedure of payment of the citizens' foreign exchange savings deposits
guaranteed by the Republic of Macedonia.
9.7. The transfer of the ownership of bonds on the basis of
their usage in accordance with Article 17 of the Law on the manner and
procedure of payment of the citizens' foreign exchange savings deposits
guaranteed by the Republic of Macedonia shall be performed
by transfer of the bond from the provider's account to the
recipient's account, in a manner and procedure determined by these Rules and
the guidelines of the Depositary.
9.8. The guidelines and other acts on the operations of the
Depository will be enacted within 30 days from the day of enacting these
Rules.
9.9. With the constitution of the Depository, the operations
performed by the Payment Operations Bureau, as an institution authorized to
perform the operations of a central securities depository, shall be
transferred to the Depository.
9.10. These Rules shall enter into force upon the receipt of
consent by the Securities and Exchange Commission.
9.10.a The consolidated text shall also contain the
Amendments and Modifications to the Rules of Operation of the Central
Securities Depository AD Skopje, enacted by the Board of Directors in its
Session held on December 26, 2002, and to which the Securities and Exchange
Commission gave its consent on February 26, 2003 with the Decision number
08-207/2.
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