2.
GENERAL PROVISIONS
2.1.
These Rules shall regulate the issues referring to the functions and
services performed by the Central Securities Depository (hereinafter:
Depository), the rights and obligations of the Depository in the performance
of its functions, recording of the securities issues in dematerialized form,
recording of the rights (including the ownership as well) to such
securities, opening securities accounts, recording and change of the
ownership, clearing and settlement of the transactions with securities,
rights and obligations of the participants in the operations of the
Depository, notification of the issuers and holders of securities, methods
for protection against errors of the Depository in the performance of the
functions, manner of founding and functioning of the guarantee fund and
other issues from the scope of operations of the Depository, as well as
rendering additional service by the Depository
2.2.
The Depository shall provide the following services to the participants in
the operations, issuers and holders securities:
-
recording of the securities in the Depository;
-
notification of the issuers and holders of securities about
the condition on their accounts;
-
clearing and settlement of the liabilities arising from the
transactions with securities;
-
rendering services
connected with the corporate activities;
-
other services that arise from the ownership and
transactions with securities, arising from the scope of its operations.
The manner
of performing the services of the Depository shall be regulated with these
Rules, the guidelines enacted by the Depository and a contract concluded
between the Depository and the entities for which it renders the services
referred to in paragraph 1 of this item.
2.3.
The Depository shall adhere to the following principles in the performance
of its activity:
-
safety and efficiency;
-
right of everybody that has submitted a request and is
eligible according to the prescribed requirements to become participant in
the Depository operations;
-
equality and parity of the participants in the Depository
operations and beneficiaries of its services;
-
regular notification of the participants in the operations
of the Depository and the beneficiaries of its services;
-
solving the disputes between the Depository and the
participants, issuers and holders, as well as between the participants in an
efficient manner and by agreement.
2.4.
The Depository shall be responsible for orderly and timely performance of
all its obligations referring to the recording of the orders of the account
holders and the participants in the operations of the Depository in a manner
and within deadlines determined with these Rules and the guidelines of the
Depository.
The
Depository shall be responsible for the protection and safety of the data
contained in the securities accounts.
The
Depository shall be responsible for the damage, including the unrealized
gain, that occurs due to inaccuracy of or loosing the data on the securities
accounts maintained as electronic record from the fund for protection
against errors.
2.5.
The Depository, its bodies and employees are obliged to keep the secrecy of
the data they have obtained during the performance of their operations.
The
obligation of the entities referred to in the previous paragraph of this
item for keeping the secrecy of the data shall remain valid even after the
termination of their labour relation i.e. performance of their duty, but not
longer than 5 years.
2.6.
The Depository shall not be responsible for omissions or delay in the
provision of services if the
omission or the delay occurred due to force majeure, a decision by a state
body or other reasons beyond its control.
2.7.
With a purpose of efficient and safe operation, the Depository shall
undertake measures for physical protection of the data in its computer
system, it shall design a software solution for controlled access of the
participants to the system and efficient system of double storage of the
data (back-up protection).
2.8.
The Depository shall provide a software solution for recording of all
accesses and changes that the authorized persons in the Depository made in
chronological order (following the activities).
2.9.
With an objective of maximum accuracy of the data entered in the Depository,
a cross-check shall be performed by comparing them with the databases in the
other bodies and institutions that keep registers and records of public and
legal disposition.
Copyright © 2004 CSD