Scope of application and definitions

(1) This Act applies to asset investments that are publicly offered in Germany. It does not apply to a public offer made by a crowdfunding service provider authorised under Regulation (EU) 2020/1503 of the European Parliament and of the Council of 7 October 2020 on European crowdfunding service providers for business, and amending Regulation (EU) 2017/1129 and Directive (EU) 2019/1937 (OJ L 347, 20.10.2020, p. 1), as amended from time to time, insofar as it does not exceed the threshold named in Article 1(2)(c) of that Regulation. This Act also does not apply insofar as a matter is governed by Regulation (EU) 2023/1114 of the European Parliament and of the Council of 31 May 2023 on markets in crypto-assets, and amending Regulations (EU) No 1093/2010 and (EU) No 1095/2010 and Directives 2013/36/EU and (EU) 2019/1937 (OJ L 150, 9.6.2023, p. 40), as amended from time to time.
(2) "Asset investments" for the purposes of this Act means, provided they are not securitised in securities within the meaning of the Securities Prospectus Act and are not structured as units in investment assets within the meaning of section 1(1) of the Capital Investment Code: 1. shares granting a participation in the result of an undertaking, 2. shares in assets that the issuer or a third party holds or administers in its own name for the account of another (trust assets), 3. profit-participating loans, 4. subordinated loans, 5. profit participation rights, 6. registered debt instruments, 7. other investments that grant or hold out the prospect of interest and repayment, or a cash settlement of monetary value, in exchange for the temporary transfer of money, and 8. investments that grant or hold out the prospect of, in exchange for the temporary transfer of money or precious metals customarily traded, a) interest and repayment, b) interest and delivery of precious metals customarily traded, c) a cash settlement of monetary value, or d) a settlement of monetary value by the delivery of precious metals customarily traded, provided the acceptance of the funds does not qualify as a deposit-taking business within the meaning of section 1(1), second sentence, no. 1 of the Banking Act.
(3) "Issuer" for the purposes of this Act means the person or company whose asset investments are issued on the basis of a public offer in Germany.