Exemption

(1) The Bundesanstalt may exempt domestic issuers having their seat in a third country from the obligations under sections 48, 49 and 50(1), first sentence, numbers 1 and 2, insofar as those issuers are subject to, or submit themselves to, equivalent rules of a third country. The Bundesanstalt informs the European Securities and Markets Authority of an exemption granted.
(2) Issuers to whom the Bundesanstalt has granted an exemption under subsection (1) must publish information on circumstances within the meaning of section 50(1), first sentence, numbers 1 and 2, that must be made available to the public under the equivalent rules of a third country, in accordance with section 50(1) in conjunction with a statutory instrument under section 50(2), and must notify the publication to the Bundesanstalt at the same time; they must transmit the information simultaneously with publication to the body responsible for the company register, for entry in the company register and forwarding to the central European access point.
(3) The Federal Ministry of Finance is authorised, by statutory instrument not requiring the consent of the Bundesrat, to adopt further provisions on the equivalence of the rules of a third country and the exemption of issuers under subsection (1).