Obligation to produce a prospectus

Public offering or the authorisation of access to a regulated market for securities or the public offering of investments in Austria requires in principle the publication of a securities prospectus or an investment prospectus. Regulation (EU) 2017/1129 is the primary legal basis for securities, with it in particularly being supplemented by the Capital Market Act 2019 (KMG 2019) in the area of investments. The obligation to produce a prospectus shall be waived, where an exception pursuant to Article 1 of Regulation (EU) 2017/1129 (securities) or Article 3 KMG 2019 (investments) applies.