What changes on 12/10/2012

The text in force from 27/11/2005 compared with the text from 12/10/2012.

Read the act as of 12/10/2012 · other versions: 12/02/2015

Chapter I

• inserted Article 1 - Subject matter
• inserted Article 2 - Definitions

Chapter II

• inserted Article 3 - Specification of the term ‘ownership’ and defining a short sale
• inserted Article 4 - Holding

Chapter III

• inserted Article 5 - Net short positions in shares — long positions
• inserted Article 6 - Net short positions in shares — short positions
• inserted Article 7 - Net short positions in shares — general
• inserted Article 8 - Net short position in sovereign debt — long positions
• inserted Article 9 - Net short positions in sovereign debt — short positions
• inserted Article 10 - Method of calculation of net short positions in relation to shares
• inserted Article 11 - Calculation of net short positions for sovereign debt

Chapter IV

• inserted Article 12 - Method of calculating positions for management activities related to several funds or managed portfolios
• inserted Article 13 - Method of calculating positions for legal entities within a group that have long or short positions in relation to a particular issuer

Chapter V

• inserted Article 14 - Cases which are not uncovered sovereign credit default swap positions
• inserted Article 15 - Cases which are not uncovered sovereign credit default swap positions where the obligor is established or the asset or liability is located in more than one Member State
• inserted Article 16 - Justification of uncovered sovereign credit default swap positions
• inserted Article 17 - Hedged assets and liabilities
• inserted Article 18 - Correlation tests
• inserted Article 19 - Proportionality
• inserted Article 20 - Method of calculation of an uncovered sovereign credit default swap position

Chapter VI

• inserted Article 21 - Notification thresholds for net short positions relating to the issued sovereign debt

Chapter VII

• inserted Article 22 - Methods for calculating and determining the threshold of liquidity for suspending restrictions on short sales in sovereign debt

Chapter VIII

• inserted Article 23 - Significant fall in value for financial instruments other than liquid shares

Chapter IX

• inserted Article 24 - Criteria and factors to be taken into account in determining when adverse events or developments and threats arise
• inserted Article 25 - Entry into force

Outside any heading

• inserted Recital 1
• inserted Recital 2
• inserted Recital 3
• inserted Recital 4
• inserted Recital 5
• inserted Recital 6
• inserted Recital 7
• inserted Recital 8
• inserted Recital 9
• inserted Recital 10
• inserted Recital 11
• inserted Recital 12
• inserted Preamble
• inserted Annex I
• inserted Annex II