At a session held on June 8, 2005, the Financial Supervision Commission (FSC) adopted the following Resolutions:
1. The Financial Supervision Commission approved a prospectus for secondary public offering of shares and entry of TRANSCARD AD, Sofia City, as a public company in the Public Companies Registry, kept by the FSC. The issue amounts to BGN 5 mln., allocated in 5 mln. pieces of ordinary, registered, dematerialized, freely transferable shares, having nominal value of BGN 1 each, and representing the court registered capital of TRANSCARD AD. The Commission entered the issue into the Registry for the purpose of trading on the regulated market.
2. The Commission adopted an Ordinance on Amendments to Ordinance No. 3 of September 24, 2003 on the terms and procedures for switching participation and transferring the amounts accrued in an insured person’s individual account from one supplementary pension fund to another fund of the same type, managed by another pension insurance company.
Under the amendments introduced to the above Ordinance, it is provided for the implementation of a mechanism, through which it shall be guaranteed that the insured person has personally expressed its own volition to switch participation or to transfer amounts accrued from one pension fund to another fund of the same type. For the said purpose, a requirement is introduced for notarised attestation of the insured person’s signature on the first copy of the Application for Switch of Participation or for Transfer of Amounts Accrued, as submitted by them. This has respectively led to abolition of the hitherto prevailing procedure for submission of the Application in person by the insured at an office of the new pension insurance company of the same type. The Application samples are also amended.
3. The Financial Supervision Commission approved an Application for Issuance of Approval for Performing Transformation of an Investment Intermediary under Art. 74а, Para. 1, Item 1 of the POSA Form.