Capital Market's Participants

Securities and Exchange Commission of the Republic of Macedonia is authorized for implementing of the Securities Law, Law on Takeovers and Law on Investment Funds, as well as for all acts and regulations which are part of this laws.

• The Securities Law is published in the "Official Gazette of the Republic of Macedonia" No. 95/2005
  download (Word Document, 250kB)
  
  
• The Law on Tekeovers, published in the Official Gazzete of the Republic of Macedonia No. 4/02 from 25th of January 2002 and No.37/02
  download (Word Document, 131kB)

• The Law on investment funds is published in the "Official Gazette of the Republic of Macedonia" No. 9 from 10th of February 2000.
  download (Word Document, 107kB)
  

Securities and Exchange Commission for regulating specific parts of the Securities Law, Law on Takeovers and Law on investment funds adopts regulations.

Regulations regarding the Securities Law:

• Regulations on the Contents of the announcement on issuing securities
  for an issue intended for a known buyer
  
• Regulations on the Contents of the Announcement on issuing securities for an issue not exceeding 25.000 EUROs and the manner of issuing the Announcement
• Regulations on the Contents and Manner of Keeping the Register of Orders
• Regulations on the Contents of the Request of approval for issuing securities, by types of issuers
• Regulations on the Documents submitted by the issuer along with the Request of approval for issuing securities
• Regulations on the Contents of the notification of subscribed and paid securities
• Regulations on the Contents of the public invitation for subscription and purchase of securities, by types of issuers and by types of securities
• Regulations on publishing the form and contents of the part of the audited financial report
• Regulations on documentation for staff, technical and organizational qualification required for establishment and operation of a brokerage house
• Regulations on the Contents of the data which the securities issuer should publish on the web page of the Stock Exchange
• Regulations on the Contents of the monthly report on operations of the brokerage house and the bank (authorized participants on the Stock Exchange), that should be submitted to the Securities and Exchange Commission
• Regulations on the manner and conditions for sitting a special examination for dealing with securities
  

Regulations regarding the Law on investment funds:

• Manner and conditions of reporting the SEC by the fund management companies
• Content of the public announcement regarding the purchase of the units establishing the open-end fund and shares establishing the close-ended fund
• Documentation on staff, technical and organizational qualification required for establishment and operation of fund management company
• Manner of executing control/supervision over the operations of the investment funds, fund management companies and depository banks
• The methodology of net-valuation of the fund's assets
  • report of the net-value of the fund's assets
  • report of the fund's assets structure
• Content of the Prospectus of the fund
• Manner of registering the fund management company's shares in the close-ended fund