420. Regulation of the Financial Markets Authority (FMA) on the functional fee for trustees for the supervision of the cover stock of insurance undertakings (insurance company trustee regulation-VU-TGV)

Pursuant to Section 304 (3) of the Insurance Supervisory Act 2016-VAG 2016, Federal Law Gazette I No. 34/2015, as last amended by the Federal Law BGBl. I n ° 112/2015, is ordered with the approval of the Federal Minister of Finance:

Survey Period

§ 1. (1) The trustee and his deputy shall be subject to a function fee for the monitoring of the cover stock for each calendar year in the amount fixed in section 3 (1).

(2) If the trustee or substitute is not ordered throughout the year, the function fee for the time of the order shall be determined proportionally.

Basis of measurement

§ 2. (1) The basis of assessment for the functional fee shall be the assets dedicated to the covering stock at the end of the previous calendar year in accordance with Section 301 (3) of the VAG 2016 of that covering stock division, for which the trustee or the deputy are ordered.

(2) Where only one trustee or substitute is appointed for a number of departments in the cover stock, the ceiling levels in question shall be set out together for the calculation of the basis of assessment.

Function fee height

§ 3. (1) The functional fee shall be annual

1.		for the trustee in the case of a tax base

up to 36 million euros	1 526 Euro
More than 36 million euros up to 73 million euros	3 052 Euro
More than 73 million euros up to 363 million euros	EUR 4 142
from 363 million euros to 727 million euros	EUR 6 105
More than 727 million euros	EUR 7 631

2.		for the deputy in the case of a tax base

up to 36 million euros	509 Euro
More than 36 million euros up to 73 million euros	1 017 Euro
More than 73 million euros up to 363 million euros	1 381 Euro
from 363 million euros to 727 million euros	2 035 Euro
More than 727 million euros	2 544 Euro

(2) The function fee shall be for the periods of 1. From January 30 to June 30, and from 1 July to 31 December each year, in retrospect, within one month.

(3) If a correction of the functional fee is required, repayments or refunds shall be credited to the next partial amount.

Reimbursement of the functional fee

§ 4. Insurance undertakings shall have the functional fee to be paid for the period of 1. January to 30th June on the following 1 July and for the period from 1 July to 31 December on the following 1. Jänner to replace each year of the FMA.

Entry into force and transitional provision

§ 5. (1) This Regulation shall enter into force 1. Jänner 2016 in force.

(2) Function fees payable for the periods until 31 December 2015 shall be subject to the Regulation of the Federal Minister of Finance on the functional fee for trustees for the supervision of the cover stock, BGBl. N ° 682/1986, as amended by the BGBl Regulation. N ° 614/1990. Insurance undertakings shall replace the functional fee to be paid for the periods until 31 December 2015 in accordance with the same Regulation.

Ettl Kumpfmüller