Directive 2004/109/EC is hereby amended as follows:

(1) Article 2 is amended as follows:

(a) paragraph 1 is amended as follows:

(i) point (d) is replaced by the following:

'(d) "issuer" means a natural person, or a legal entity governed by private or public law, including a State, whose securities are admitted to trading on a regulated market.

In the case of depository receipts admitted to trading on a regulated market, the issuer means the issuer of the securities represented, whether or not those securities are admitted to trading on a regulated market;';

(ii) point (i) is amended as follows:

(i) in point (i), the second indent is replaced by the following:

'- where the issuer is incorporated in a third country, the Member State chosen by the issuer from amongst the Member States where its securities are admitted to trading on a regulated market. The choice of home Member State shall remain valid unless the issuer has chosen a new home Member State under point (iii) and has disclosed the choice in accordance with the second paragraph of this point [letter] (i);';

(ii) point (ii) is replaced by the following: