Courts for securities-acquisition and takeover matters

(1) For civil disputes arising from this Act, the Regional Courts have exclusive competence irrespective of the amount in dispute. The first sentence also applies to the claims named in section 12(6) and to cases where the decision of a legal dispute depends wholly or partly on a decision to be taken under this Act. For actions brought on the basis of this Act or on account of the claims named in section 12(6), the Regional Court in whose district the target company has its seat is also competent.
(2) The legal disputes are commercial matters within the meaning of sections 93 to 114 of the Courts Constitution Act.
(3) The Land governments are authorised to assign, by statutory instrument, civil disputes for which the Regional Courts have exclusive competence under subsection (1) to one Regional Court for the districts of several Regional Courts, where such a consolidation of the administration of justice in securities-acquisition and takeover matters is conducive to that end. They are further authorised to assign decisions on appeals and complaints against decisions of the Regional Courts competent under subsection (1) in civil disputes to one or some of the Higher Regional Courts, where several Higher Regional Courts have been established in a Land. The Land governments may transfer the authorisations to the Land justice administrations. By treaties between the Länder, the competence of a Regional Court for individual districts, or the entire territory, of several Länder may be established.
(4) (repealed)