(1) The Federal Ministry of Finance is authorised to confer, by means of a statutory instrument not requiring the consent of the Bundesrat, the functions of the registrar entity and the powers needed to perform these functions on a legal person under private law.
(2) 1These functions may only be conferred on a legal person under private law if this person provides a guarantee that they will perform the functions transferred to them properly and, in particular, that they will operate the transparency register reliably and on a long-term basis. 2They are deemed to provide the required guarantee if
- the natural persons who, by law or according to the articles of association or the statutes, act as managers and representatives, are fit and proper,
- they have basic experience with making information under register law accessible, particularly commercial register data, company announcements and information under capital markets law,
- they have the organisational systems and the technical and financial resources necessary to perform their functions and
- they ensure compliance with the provisions regarding the protection of personal data.
(3) 1The period of the conferral is to be time-limited. 2It should not be shorter than five years. 3The possibility of terminating the conferral before the expiry of the period if an important reason exists is to be provided for. 4If the conditions for conferral have not been fulfilled or are no longer fulfilled, it should be possible to terminate the conferral at any time. 5It is to be ensured that, on termination of the conferral, all software programs and data needed to continue the proper administration of the transparency register be made available, without delay, to the Federal Ministry of Finance or an institution appointed by it and that the rights to these software programs and to the internet address used by the transparency register are transferred to the Federal Ministry of Finance or the institution appointed by it.
(4) 1The conferee is entitled to use the small Bundessiegel. 2It is made available by the Federal Ministry of Finance. 3The small Bundessiegel may only be used to certify printouts from the transparency register and to issue confirmations under section 18 (4).
(5) 1The conferee has the right to collect the fees under section 24. 2The fee revenue collected belongs to the conferee. 3In the statutory instrument, the Federal Ministry of Finance may transfer the enforcement of notifications of charges to the conferee.
(6) 1The conferee is subject to the legal and operational supervision of the Federal Office of Administration. 2In order to exercise its supervisory activity, the Federal Office of Administration may inform itself about the affairs of the conferee at any time, in particular by obtaining information and reports and by demanding that records of any kind be submitted, object to unlawful measures and demand that remedial action be taken. 3The conferee is obliged to comply with the instructions from the Federal Office of Administration. 4If the conferee fails to comply with the instructions or does not comply with them within the required period, the Federal Office of Administration may, at the conferee’s expense, implement the required measures itself instead or have them implemented by a third party. 5The employees and others working on behalf of the Federal Office of Administration have the right to enter, view and inspect the conferee’s business premises, office premises and operating premises during hours of operation and business hours to the extent necessary to perform their functions. 6Objects or business documents may be viewed and taken into custody insofar as this is necessary.
(7) If the administration of the transparency register is not conferred on a legal person under private law, or if the conferral is terminated, the Federal Ministry of Finance may transfer the administration of the transparency register to a higher federal authority within its segment of competence or, in consultation with the competent federal ministry, to another higher federal authority within that ministry’s segment of competence.