Article 4

1. Articles 70 to 77 shall apply to companies the shares of which are admitted to official listing on a stock exchange situated or operating in a Member State, whether the admission is of the shares themselves or of certificates representing them, and whenever the date of this admission occurred.

2. The provisions mentioned in paragraph 1 shall not, however, apply to investment undertakings other than those of the closed-end type.

3. The Member States may exclude central banks from the scope of the provisions mentioned in paragraph 1.

TITLE II

GENERAL PROVISIONS CONCERNING THE OFFICIAL LISTING OF SECURITIES

CHAPTER I

General conditions for admission