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Digitalisation in securities: planned amendment to the Austrian deposit act which will allow for dematerialised securities certificates

The Austrian Council of Ministers recently resolved a ministerial proposal which would allow for bonds and investment certificates to be represented by digital global certificates rather than physical paper global certificates. The digital global certificates will possess the same securities law functions as physical global certificates.

Banking and finance expert Alexander Haas of Wolf Theiss and Jörg Liesenfeld of Raiffeisen Bank International have provided an overview of what we can expect in the planned amendment.

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