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$20 per month, or Get a Day Pass for only USD$4.99.

354. 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 54/2012, 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 357/2010, shall be amended as follows:

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

(2) The following paragraph 7 is added to Article 6 (6):

" (7) § 2 (1) in the version of the BGBl Regulation. II No 354/2012 shall apply to insurance contracts concluded after 20 December 2012 or the beginning of their insurance after 31 March 2013. "

Ettl Pribil