Povzetek: Posebnost slovenske privatizacije je bila, da smo delničarji na podlagi pridobljenih certifikatov lahko postali praktično vsi. Zato je v Sloveniji neobičajno veliko imetnikov, ki imajo manjše število vrednostnih papirjev. Vrednostne papirje imajo tudi posamezniki, ki jim za delnice ni dosti mar ali ki so celo že pozabili, da jih imajo. Do leta 2015 so imeli številni taki posamezniki svoje delnice na registrskih računih, ki so bili odprti neposredno pri KDD. Leta 2015 pa je zakonodajalec odločil, da se registrski računi ukinejo. Imetniki so morali delnice prenesti na trgovalne račune, vendar za nekatere s tem povezani stroški niso bili sprejemljivi. Takšni imetniki so se lahko delnicam odrekli, te pa so bile prenesene na poseben račun za opustitev, s katerega jih je v določenem obdobju lahko prevzel, kdorkoli je hotel. To je izkoristilo predvsem eno izmed združenj malih delničarjev, ki je množično prevzemalo opuščene delnice. Med njimi pa so bile tudi vinkulirane delnice, torej delnice, za prenos katerih je potrebno dovoljenje družbe izdajateljice. Članek odgovarja na vprašanje, kakšen status imajo delničarji, ki so vinkulirane delnice pridobili z računa za opustitev, ne da bi pridobili dovoljenje družbe za prenos.
Ključne besede: vrednostni papirji, delnice, vinkulacija, registrski računi
Title: Consequences of Termination of Registry Accounts on Shares with Restricted Transferability
Abstract: Peculiar to the Slovenian voucher privatisation, almost everyone was able to become a shareholder. An unusually large number of shareholders in Slovenia therefore own a small number of shares. Shares are also owned by individuals who do not particularly care about their shares or have even forgotten that they own any shares. Until 2015, many of these individuals held their shares in registry accounts that were opened directly with the Central Securities Clearing Corporation (KDD). In 2015, however, the legislator decided to abolish the registry accounts. Shareholders were required to transfer their shares into trading accounts, but some shareholders refused to incur the costs of such transfer. These shareholders were able to give up their shares, which were then transferred into a special abandoning account from which anyone was able to acquire the shares during a certain period. This was primarily utilised by one of the minority shareholders'' associations that acquired a large number of these abandoned shares. Among these shares were also shares with restricted transferability, the transfer of which requires a consent by the issuing company. This article answers the question of the status of those shareholders who have acquired the shares with restricted transferability from the abandoning account without obtaining a consent for the transfer by the issuing company.
Keywords: securities, shares, restriction of transferability, registry accounts
