LAW ON SECURITIES
The Law on Securities was adopted by the Macedonian Parliament in July 2000. This law introduces the basic rules regarding the issued securities in Republic of Macedonia. The law is divided into eight main chapters:
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In the first chapter the basic provisions can be found, definitions of the main terms, explanations of the main relations and actions involved in the process of issuance and trading with securities.
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The second chapter defines the financial derivatives and the manner of trading with the derivatives.
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The third chapter is divided into four subchapters: Stocks, Bonds, Certificate of Deposit, and Treasury Commercial and Government Notes.
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The fourth chapter deals with the issuance and public offer of securities.
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The fifth chapter - Trading with securities - is divided into two subchapters: Trading with money and short-term securities and Trading with long-term securities. In the second subchapter the parts that are prescribing the functioning of the Macedonian Stock Exchange, the Brokerage Houses, and the Central Securities Depository are found.
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The sixth chapter describes the authorizations and the operation of the Securities and Exchange Commission.
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