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securities

as defined in Directive 2004/109/EC of the European Parliament and of the Council of 15…, Article 2(1), point (a) (Definitions)

transferable securities as defined in Article 4(1), point 18, of Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments with the exception of money-market instruments, as defined in Article 4(1), point 19, of that Directive having a maturity of less than 12 months, for which national legislation may be applicable

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