Insurance Company Trustee Fee Regulation Vu-Tgv

Original Language Title: Versicherungsunternehmen-Treuhändergebührverordnung – VU-TGV

Read the untranslated law here: https://www.global-regulation.com/law/austria/2996004/versicherungsunternehmen-treuhndergebhrverordnung--vu-tgv.html

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420th regulation of the financial market authority (FMA) on the function fee for Trustees for the monitoring of the cover pool of insurance companies (insurance companies trustee fees regulation VU-TGV)

On the basis of article 304 par. 3 of the insurance supervision law 2016 - VAG 2016, Federal Law Gazette I no. 34/2015, as last amended by the Federal Act Federal Law Gazette I no. 112/2015, is with the consent of the Federal Minister of finance prescribed:

Assessment period

§ 1 (1) may refer to a function fee in the amount set out in article 3, paragraph 1 the trustee and his Deputy for the monitoring of the cover pool for each calendar year.

(2) the trustee are or Deputy ordered not during the whole year, the function fee for the time of the order is calculated pro rata.

Basis of assessment

2. (1) which are basis for the function fee at the end of the preceding calendar year dedicated to the collateral assets pursuant to § 301 3 VAG 2016 of that cover Department, for which the trustee or the Deputy ordered are.

(2) only a trustee or representative is appointed for several departments of the cover pool, to comprise the relevant collateral values are for the determination of the tax base.

The function fee

3. (1): the function fee per year



1. for the trustee at a base



up to 36 million euro





1 526 euros







over 36 million euros to 73 million euros





3 052 EUR







over 73 million euros to 363 million euros





4 142 euro







over 363 million euros up to 727 million euro





6-105 euro







over 727 million euros





7 631 euro





2. for the delegate at a tax base



up to 36 million euro





509 euro







over 36 million euros to 73 million euros





1 017 euro







over 73 million euros to 363 million euros





1 381 euro







over 363 million euros up to 727 million euro





2 035 euro







over 727 million euros





2 544 euro





(2) the function fee is payable for the period from 1 January to 30 June and from 1 July to 31 December each year in hindsight within a month.

(3) If an adjustment of the function fee is required, so additional payments or refunds for the next the amount of part of be credited.

The function fee refund

§ 4. insurance companies have to replace the function fee to be paid for the period from 1 January to 30 June on the following 1 July and for the period from 1 July to 31 December on the following 1 January each year of the FMA.

Entry into force and transitional provisions

5. (1) effective this regulation with 1 January 2016.

(2) fees, which are payable for the period until 31 December 2015, are in accordance with the regulation of the Federal Minister for finance on the function fee for Trustees for the monitoring of the cover pool, BGBl. No. 682/1986, to refund No. 614/1990, amended by regulation BGBl. Insurance companies have the function fee to be paid for the period until 31 December 2015 in accordance with that regulation to replace.

Ettl Kumpf Müller