GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW) | ||||||
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08:17 Feb 16, 2009 |
Spanish to English translations [PRO] Bus/Financial - Business/Commerce (general) / Articles of Association | |||||||
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| Selected response from: Rebecca Jowers Spain Local time: 21:58 | ||||||
Grading comment
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Summary of answers provided | ||||
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5 +7 | marketable/negotiable securities |
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4 | personalty shares and assets |
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marketable/negotiable securities Explanation: I do not believe that this text refers specifically to "real-estate related shares." This is standard wording in many "corporate purpose" or "objects" clauses in Spain, and I believe it merely indicates that one of the company's objects allows the company to acquire and otherwise deal in and dispose of marketable securities, while underscoring that the company does not intend to qualify as or engage in the activities of "instituciones de inversión colectiva" set forth in Ley 46/1984 or the "agencias y sociedades de valores" provided for in the "Ley de Mercado de Valores". That is, I believe, the meaning of "sin incidir en". You will find this same expression in the objects clauses of other Spanish corporations. LA COMPRA Y VENTA DE VALORES MOBILIARIOS POR CUENTA PROPIA SIN INCIDIR EN LAS ACTIVIDADES PROPIAS DE LAS INSTITUCIONES DE INVERSION CO LECTIVA O REGULADAS ... www.informacion-empresas.com/Empresa_ARMAN-GALIS.html SIN INCIDIR EN LAS OPERACIONES REGULADAS POR LA LEY DEL MERCADO DE VALORES 24/1988, ... Servicios de compra-venta,contratacion de valores mobiliarios. ... www.einforma.com/servlet/app/prod/.../AGROFORESTAL-LAS-COLO... negociación de toda clase de títulos y valores mobiliarios, cotizados en Bolsa o no, sin incidir en las operaciones a que se refiere la Ley 35/2003, ... www.borsabcn.es/bolsabcn/bsoccote.nsf/vweb/.../$file/CONVOCATORIA%20JUNTA%2016-11-2007.PDF etc. -------------------------------------------------- Note added at 4 hrs (2009-02-16 12:58:31 GMT) -------------------------------------------------- To address argosys's comment: Yes, perhaps the expression could be translated simply as "securities", since the text reads "whether listed or not" ("cotizados en bolsa o no"). But what this does not refer to is "valores INmobiliarios", i.e., real estate (bienes inmuebles) or "chattels, personal property, personalty" (bienes muebles). The word "mobiliario" as used in Spain in the expression "valores mobiliarios" does not refer to "bienes muebles" (personal property, personalty, chattels), but rather corresponds to what are generically called "securities" in English. Here is a definition from the Diccionario Jurídico Aranzadi, 2004: Valores mobiliarios--Instrumentos de inversión emitidos en masa. Pueden estar respresentados mediante título o mediante anotación en cuenta. Se regulan fundamentalmente en la Ley de Sociedades Anónimas (acciones, obligaciones) y en la Ley del Mercado de Valores (valores representados mediante anotaciones en cuenta). Susceptibles de ser negociados en mercados estandarizados. Se denominan también valores negociables. Likewise, here are definitions of "valores mobiliarios" and "valores inmobiliarios" as used in Spain, taken from a Banesto Broker brochure describing different types of investment funds available here: Fondos de Inversión Mobiliaria--Invierten tanto en acciones como en títulos de renta fija (bonos, obligaciones), sin ninguna limitación en cuanto a plazo de vencimiento de los valores, siempre que dichos títulos coticen y se negocien en mercados organizados. Fondos de Inversión Inmobiliaria--Fondos de Inversión que invierten exclusivamente en el sector inmobiliario: viviendas, oficinas y locales comerciales. In other respects, I do not understand how the passage to be translated can be interepreted to imply that the newly-incoporated company "intends to invest in companies engaged in the production and/or commerce of movable assets such as furniture, motor vehicles, jewelry, and the like", as argosys indicates. |
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Grading comment
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