Preamble
Recitals 79
Chapter I - General provisions (Article 1-2) 2
Chapter II - Provision of crowdfunding services and organisational and operational requirements of crowdfunding service providers (Article 3-11) 9
Chapter III - Authorisation and supervision of crowdfunding service providers (Article 12-18) 7
Chapter IV - Investor protection (Article 19-26) 8
Chapter V - Marketing communications (Article 27-28) 2
Chapter VI - Competent authorities and esma (Article 29-38) 10
Chapter VII - Administrative penalties and other administrative measures (Article 39-43) 5
Chapter VIII - Delegated acts (Article 44) 1
Chapter IX - Final provisions (Article 45-51) 7
Annexes 2
- Annex I
- Annex II

admitted instruments for crowdfunding purposes

Definitions over time (1)

09/11/2020 – today applies on 10/11/2026 Article 2, Regulation (EU) 2020/1503 Scope: Whole act

1. For the purposes of this Regulation, the following definitions apply:

‘admitted instruments for crowdfunding purposes’ means, in respect of each Member State, shares of a private limited liability company that are not subject to restrictions that would effectively prevent them from being transferred, including restrictions to the way in which those shares are offered or advertised to the public;