Skip navigation

Please use this identifier to cite or link to this item:
Title: Prawo właściwe dla przeniesienia akcji w obrocie zorganizowanym
Authors: Stolecki, Daniel
Keywords: transfer of shares; securities settlement system; securities intermediary; lex cartae sitea; PRIMA; Hague Securities Convention; applicable law
Issue Date: 2014
Citation: "Problemy Prawa Prywatnego Międzynarodowego" T. 15 (2014), s. 49-70
Abstract: The article discusses the issues of conflict of laws in cross‑border transfer of shares in the organized trading system. In regard to the private trading of securities‑law rules based essentially on the lex cartae sitae. In terms of organized trading securities transfer transaction associated with making a series of records in securities accounts — as part of the system of securities clearance, settlement and ownership system where ownership information is held electronically as a book entry (indirect holding system). The solutions adopted in this regard in the Polish Private International Law seem to be sufficient. The purpose of this paper is to discuss new approach to the problem of the cross‑border transfer of shares, primarily based on the solutions of The Hague Convention on the Law Applicable to Certain Rights in Respect of Securities held with an Intermediary. The Convention is largely a response to the move in recent times in most nations from a purely direct holding system to a mixed direct and indirect holding system. The reforms, though largely beneficial, have created an alarming level of uncertainty as to the question of “what law applies” in cross‑border securities transactions. The development of a global agreed‑upon method of determining the legal regime governing any such transactions lagged behind market practice, leaving financial markets with significant legal risk.
ISSN: 1896-7604
Appears in Collections:Artykuły (WPiA)

Files in This Item:
File Description SizeFormat 
Stolecki_prawo_wlasciwe_dla_przeniesienia_akcji.pdf508,42 kBAdobe PDFView/Open
Show full item record

Uznanie autorstwa - użycie niekomercyjne, bez utworów zależnych 3.0 Polska Creative Commons License Creative Commons