Central Securites Depositories Act enters into force

The new Central Securities Depositories Act which implements the CSDR enters into force 1 January 2020.

The new Central Securities Depositories Act which implements the CSDR enters into force 1 January 2020. This means that VPS must apply for authorisation under CSDR within 30 June 2020. On the 20th December the Ministry of Finance adopted transitional provisions clarifying that VPS’ current authorization will remain in force and that the current Securities Register Act will continue to apply to VPS’ business and to account operators, settlement participants and holders of nominee accounts in VPS until the authorisation process is completed.

The Central Securities Depositories Act

The transitional provisions