Choice of home state; authorisation to issue statutory instruments

(1) An issuer within the meaning of section 2(13), no. 1, letter b) may choose the Federal Republic of Germany as home state where 1. it has not already chosen another state as home state, or 2. it had previously chosen another state as home state but its securities are no longer admitted to trading on any regulated market in that state. The choice remains valid until 1. the issuer's securities are no longer admitted to trading on any domestic regulated market but are instead admitted to trading on a regulated market in another Member State of the European Union or another state party to the Agreement on the European Economic Area, and the issuer chooses a new home state, or 2. the issuer's securities are no longer admitted to trading on any regulated market in a Member State of the European Union or in another state party to the Agreement on the European Economic Area.
(2) An issuer within the meaning of section 2(13), no. 2 may choose the Federal Republic of Germany as home state where 1. it has not, within the last three years, chosen another state as home state, or 2. it had previously chosen another state as home state but its financial instruments are no longer admitted to trading on any regulated market in that state. The choice remains valid until 1. the issuer issues securities within the meaning of section 2(13), no. 1 that are admitted to trading on a regulated market in a Member State of the European Union or another state party to the Agreement on the European Economic Area, 2. the issuer's financial instruments are no longer admitted to trading on any regulated market in a Member State of the European Union or in another state party to the Agreement on the European Economic Area, or 3. the issuer chooses a new home state under the third sentence. An issuer within the meaning of section 2(13), no. 2 that has chosen the Federal Republic of Germany as home state may choose a new home state where 1. the issuer's financial instruments are no longer admitted to trading on any domestic regulated market but are instead admitted to trading on a regulated market in another Member State of the European Union or another state party to the Agreement on the European Economic Area, or 2. the issuer's financial instruments are admitted to trading on a regulated market in another Member State of the European Union or another state party to the Agreement on the European Economic Area, and at least three years have passed since the choice of the Federal Republic of Germany as home state.
(3) The choice of home state takes effect upon publication under section 5.
(4) The Federal Ministry of Finance may, by statutory instrument not requiring the consent of the Bundesrat, adopt further provisions on the choice of home state.