Stock exchange body in charge of admitting securities to the Official Market (Amtlicher Markt)
Before a security is admitted to the Official Market, the Admissions Office examines the listing prospectus to determine whether the issuer and the sponsoring bank have met admission and disclosure requirements.
The Admissions Office comprises at least 20, but no more than 24, members who are elected by the Exchange Council. Of these, not more than half may be professionally involved in exchange trading. Members are elected for three years, and can be re-elected. The Admissions Office appoints one chairman and up to two deputy chairmen.
The Admissions Office has a quorum when at least five voting members have cast their vote, either verbally or in writing. A simple majority is required to pass a resolution. In case of a tie, the chairman or the member in charge of the session casts the deciding vote. Any member who owns shares in the company seeking admission is not eligible to vote.
Important regulations on the Admissions Office are contained in the Stock Exchange Act (Börsengesetz), section 4 para. 3 and section 37, as well as in the Stock Exchange Rules and Regulations.
