Republic of Lithuania Law Amending Article 42 of the Law on the Bank of Lithuania No I-678 and Amending Annex 1 to the Law


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REPUBLIC OF LITHUANIA
LAW AMENDING ARTICLE 42 OF THE LAW  ON THE BANK OF LITHUANIA No I-678  AND AMENDING ANNEX 1
TO THE LAW
 
17 July 2014 No IX-1035 Vilnius
 
 
 
Article 1. Amendment of Article 42
1. Article 42(1) shall be amended and set forth to read as follows:
"1. Financial market participants under supervision shall be: banks, foreign bank branches established in the Republic of Lithuania, the Central Credit Union, credit unions, insurance companies, reinsurance companies, branches of foreign insurance and reinsurance companies established in the Republic of Lithuania, insurance broker companies and branches of foreign insurance and reinsurance intermediaries established in the Republic of Lithuania, electronic money institutions, intermediaries of electronic money institutions and branches of foreign electronic money institutions established in the Republic of Lithuania, brokerage firms, financial advisor firms, regulated market operators, management companies, investment companies, depositories, foreign financial brokerage firms and branches of management companies established in the Republic of Lithuania, pension associations, investment holding companies and issuers, payment institutions and agents of payment institutions, consumer lenders and consumer credit intermediaries, payment and securities' settlement system operators and currency exchange offices' operators."
2. Article 42(2) shall be supplemented with point 9 as follows:
9) perform supervision of currency exchange offices' operators and other functions assigned to the Bank of Lithuania as provided for in the Republic of Lithuania Law on the Operators of Currency Exchange Offices."
 
Article 2. Amendment of Annex 1 to the Law
Annex 1 to the Law shall be amended and set forth to read as follows:
 
 
 
 
 
                                                                                     "Republic of Lithuania
Law on the Bank of Lithuania
Annex 1
 
 
FINANCIAL MARKET PARTICIPANTS PAYING CONTRIBUTIONS, BASE OF CONTRIBUTIONS, AND MAXIMUM CONTRIBUTIONS
 
Serial No
Market participants
Base of contributions
Maximum contributions
 
1.
Credit institutions; branches of foreign banks, which are licensed in the states other than the states of the European Economic Area and established in the Republic of Lithuania
Annual average assets
0.017 per cent
 
2.
Branches of foreign banks which are licensed in the states of the European Economic Area and established in the Republic of Lithuania
Annual average assets
0.0057 per cent
 
3.
Consumer lenders, other than credit institutions and their branches in the Republic of Lithuania
Annual average assets
0.0085 per cent
 
4.
Electronic money institutions; branches of electronic money institutions which are licensed in the states other than the states of the European Economic Area and established in the Republic of Lithuania
Average outstanding electronic money and annual turnover of electronic services
0.01 per cent
 
5.
Branches of electronic money institutions which are licensed in the states of the European Economic Area and established in the Republic of Lithuania
Average outstanding electronic money and annual turnover of electronic services
0.005 per cent
 
6.
Payment institutions
Annual turnover of payment services
0.01 per cent
 
7.
Branches of payment institutions which are licensed in the states of the European Economic Area and established in the Republic of Lithuania
Annual turnover of payment services
0.005 per cent
 
8.
Insurance and reinsurance companies; branches of insurance and reinsurance companies which are licensed in the states other than the states of the European Economic Area and established in the Republic of Lithuania
Insurance and reinsurance premiums written in the Republic of Lithuania
0.26 per cent
 
9.
Branches of insurance and reinsurance companies which are licensed in the states of the European Economic Area and established in the Republic of Lithuania
Insurance and reinsurance premiums written in the Republic of Lithuania
0.13 per cent
 
10.
Brokerage firms
Annual income
0.3 per cent
 
11.
Branches of brokerage firms which are licensed in the states other than the states of the European Economic Area and established in the Republic of Lithuania
Annual income
0.15 per cent
 
12.
Management companies, investment companies with variable capital, closed-end investment companies and branches of these entities established in the Republic of Lithuania
Assets managed by collective investment undertakings and supplementary voluntary pension funds
0.05 per cent
 
13.
Operators of the regulated market

LTL 75 000
 
14.
 Central securities depository

LTL 100 000
 
15.
Issuers whose equity securities are admitted to trading on a regulated market in the Republic of Lithuania and/or in other state of the European Economic Area, and which are under supervision of the Bank of Lithuania

LTL 3 000
 
16.
Issuers whose non-equity securities are admitted to trading on a regulated market in the Republic of Lithuania and/or in other state of the European Economic Area, and which are under supervision of the Bank of Lithuania

LTL 1 500
 
17.
Insurance broker companies

LTL 1 500
 
18.
Financial advisor firms

LTL 1 500
 
19.
Currency exchange offices' operators        

LTL 1 500
'
 
 
Article 3. Entry into Force of the Law
This Law shall enter into force on 01 November 2014.
 
I promulgate this Law passed by the Seimas of the Republic of Lithuania.
 
 
 
 
 
 
 
 
PRESIDENT OF THE REPUBLIC                                          DALIA GRYBAUSKAITĖ