Deposit Act
The Deposit Act regulates the safekeeping and acquisition of securities in Germany and Austria (for Switzerland, see Book Effects Act ).
| Basic data | |
|---|---|
| Title: | Law on the Safekeeping and Acquisition of Securities |
| Short title: | Deposit Act |
| Abbreviation: | DepotG |
| Type: | Federal law |
| Scope: | Federal Republic of Germany |
| Legal matter: | Commercial law |
| References : | 4130-1 |
| Original version from: | February 4, 1937 ( RGBl. I p. 171) |
| Entry into force on: | May 1, 1937 |
| New announcement from: | January 11, 1995 ( Federal Law Gazette I p. 34 ) |
| Last change by: |
Art. 12 G of June 30, 2016 ( Federal Law Gazette I p. 1514, 1541 ) |
| Effective date of the last change: |
March 31, 2017 ( Federal Law Gazette I p. 559 ) |
| GESTA : | D047 |
| Please note the note on the applicable legal version. | |
| Basic data | |
|---|---|
| Title: | Deposit Act |
| Long title: | Federal Act of October 22, 1969 on the Safekeeping and Acquisition of Securities (Deposit Act) |
| Abbreviation: | DepotG |
| Type: | Federal law |
| Scope: | Austria |
| Legal matter: | Commercial law |
| Reference: |
RGBl. I p. 171 Reception 11 January 1995 ( Federal Law Gazette No. 424/1969 ) |
| Date of law: | February 4, 1937 |
| Effective date: | May 1, 1937 |
| Last change: | BGBl. I No. 63/1999 |
| Please note the note on the applicable legal version ! | |
Areas of application
Securities for which the Deposit Act applies are:
- shares
- Kuxe
- Intermediate notes
- Interest coupons
- Dividend coupons
- Renewal coupons
- Bearer and order bonds
- other reasonable securities other than banknotes and other paper money .
The German Depot Act (DepotG) is divided into four main parts. According to the definitions in § 1 DepotG, extensive regulations for the safekeeping of securities in the custody account are made in § § 2 et seq. DepotG, regulations about the purchasing commission § § 18 et seq. DepotG and the priority in insolvency proceedings ( § 32 et seq. DepotG). Finally, there are penal provisions in Section 34 ff. DepotG, so that these parts of the provisions belong to secondary criminal law . The core of the Custody Act, the bankruptcy protection for investors , in the event of insolvency of the custodian bank as the owner of a right of separation in accordance with § 7 Insolvency for all securities have ( § 32 para. 4 Custody Act).
Austria and Switzerland
The Austrian Deposit Act and the Swiss Book Effects Act, on the other hand, do not have their own criminal provisions. These criminal provisions can be found in the Austrian Criminal Code and the Swiss Criminal Code .
history
Following the Berlin banking panic in 1890, the custody account law was introduced to the Reichstag in 1896 as a result of preparatory work by the stock exchange queteing commission . It was called the law of July 5, 1896, concerning the duties of merchants to keep foreign securities . The law was also a model for Austria and Switzerland.
Synopsis of the German-Austria-Switzerland Securities Custody Acts
| General regulations - § 1 | SECTION I. General provisions - § 1 | Chapter 1: Purpose, Scope and Terms - Art 1 to 5 |
| Section 1 custody - § 2 to 17 | SECTION II Safekeeping Special Safekeeping (Wrapper Safekeeping) - § 2 to 12 | Chapter 2: Origin, Transformation and Disaster of Book Effects - Art 6 to 8
Chapter 3: Third-party custody and availability of book securities - Articles 9 to 12 Chapter 4: Rights from the safekeeping of book securities - Art 13 to 20 Chapter 5: Disposal of book effects and effects vis-à-vis third parties - Articles 24 to 30 |
| Section 2 Purchasing Commission - § 18 to 31 | III. SECTION Purchasing Commission - § 13 to 22 | |
| Section 3 priority in insolvency proceedings - § 32 to 33 | IV. SECTION Insolvency Proceedings - § 23 | Chapter 6: Realization of Collateral - Articles 31 to 33 |
| V. SECTION Global Certificates - Federal Debt Register Claims - § 24 | ||
| 4. Section Criminal Provisions - Sections 34 to 40 | VI. SECTION (not applicable) | Chapter 7: Liability provisions - Art 33 |
| 5. Section final provisions - § 41 to 43 | VII. SECTION Final provisions - § 27 to 30 | Chapter 8: Final provisions - Articles 34 to 36 |
literature
- Peter Scherer: DepotG. Commentary , 1st edition, Beck, Munich 2012, ISBN 978-3-406-56643-1 .
Web links
- Deposit Act Germany
- Depot Act Austria
- Swiss Book Effects Act (PDF; 523 kB)
- Reichstag minutes from 1896 on the draft of the Depot Act
