Change The Maximum Interest Rate Regulation

Original Language Title: Änderung der Höchstzinssatzverordnung

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now for only USD$40 per month.

179. Regulation of the Financial Market Supervisory Authority (FMA) amending the maximum interest rate regulation

Pursuant to § 85 (1) and 2 (2) of the Insurance Supervisory Act-VAG, BGBl. No 569/1978, as last amended by the Federal Law BGBl. I No 42/2014, shall be arranged:

The Regulation of the Financial Markets Authority (FMA), which sets a maximum rate of interest for the calculation of the technical provisions in life assurance (maximum interest rate regulation), BGBl. N ° 70/1995, as last amended by the BGBl Regulation. II No 396/2013, shall be amended as follows:

1. In § 2 para. 1, first and second sentence, the value shall be "1.75 vH" by the value "1.50 vH" replaced.

(2) The following paragraph 9 is added to § 6:

" (9) § 2 (1) in the version of the BGBl Regulation. II No. 179/2014 comes with 1. January 2015 in force and shall apply to insurance contracts concluded after 31 December 2014 or whose insurance start is after 31 March 2015. "

Ettl Kumpfmüller