Publication obligations after the end of the public offer; authorisation to issue statutory instruments

(1) The issuer of an asset investment is obliged, after the end of the public offer of an asset investment, to publish without delay, under subsection (3), first sentence, every fact that relates directly to it or to the asset investment it has issued and that is not publicly known, where it is capable of materially impairing the issuer's ability to fulfil its obligations to the investor. A fact within the meaning of the first sentence is in particular
1. the impending inability of the issuer to pay,
2. a default in payment by the issuer towards investors in asset investments,
3. the opening of insolvency proceedings over the assets of companies against which the issuer has substantial payment claims, or whose insolvency can lead to the issuer's inability to pay,
4. the opening of insolvency proceedings over the assets of a group member of the issuer, provided this can lead to a default in payment by the issuer towards investors, or to the issuer's inability to pay,
5. the default of material contractual partners of the issuer. The obligation under the first sentence lapses upon full redemption of the asset investment.
(2) The issuer must notify the fact to BaFin before forwarding it under subsection (3). BaFin makes the fact known on its website no later than the third working day after receipt.
(3) The facts concerned must be forwarded for publication to media, including media that may be assumed to disseminate the information in Germany and to be accessible at all times. BaFin must be notified of the publication, stating the text of the publication, the media to which the information was sent, and the exact time it was sent to the media.
(4) The Federal Ministry of Finance may, by statutory instrument not requiring the consent of the Bundesrat, issue further provisions on the minimum content, the manner, the language, the extent and the form of
1. the publication under subsection (3), first sentence, and
2. the notification under subsection (2), first sentence and subsection (3), second sentence. The Federal Ministry of Finance may transfer this authorisation, by statutory instrument, to BaFin.