Device for making a cut or perforation

Device for making a cut or a perforation in at least one moving in a transport plane stock web in its transport direction, comprising a stationary upper blade (22) and one with the upper blade (22) cooperating undercutter (28), wherein the lower blade (28) by a motor (51) is driven, wherein the transport plane of the printing material between the upper blade (22) and the lower blade (28) is arranged, wherein the transport plane of the print substrate as a function of one of a control unit (52) executed control function selectively a first operating position in which the upper cutter (22) engages in the printing material web, or a second operating position in which the upper blade (22) with the printing material web is disengaged, characterized in that the lower knife (28) is designed as a cutting ring (28), wherein the lower blade (28) having a rotating segmented disc (53) with which the Badr uckstoffbahn in the second operating position its transport plane with the upper blade (22) is brought into engagement, wherein the lower knife (28) driving motor (51) of ...