Change Of The National Bank Act 1984 And The Financial Market Authority Act

Original Language Title: Änderung des Nationalbankgesetzes 1984 und des Finanzmarktaufsichtsbehördengesetzes

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50 federal law that modifies the National Bank Act 1984 and the financial market Authority Act

The National Council has decided:

Article 1 (Amendment of the National Bank law of 1984)

The National Bank Act 1984, Federal Law Gazette No. 50/1984, as last amended by Federal Law Gazette I no. 108/2007, is amended as follows:

1. paragraph 1:

„§ 1. The legal relationships of the Austrian National Bank are the Treaty on the functioning of the European Union, OJ No. C 83 of March 30, 2010 p. 47 (TFEU), the Protocol (4) on the Statute of the European system of central banks and of the European Central Bank, OJ No. C 83 of March 30, 2010 S. 230 (ESCB/ECB Statute) as well as governed by this federal law. The provisions of the companies Act 1965, BGBl. No. 98/1965, are applicable to the Austrian National Bank, so far as by this federal law or by the TFEU, the ESCB/ECB Statute otherwise."

2. paragraph 2 paragraph 2:

"(2) the Austrian National Bank has in accordance with the provisions of the Treaty, of the ESCB/ECB Statute, the directly applicable European Union law provisions adopted on the basis of those provisions, as well as this federal law to contribute to the achievement of the goals and the execution of the tasks of the ESCB. In the context of European Union law, in particular article 3 of the Treaty on European Union, OJ No. C 83 of March 30, 2010 has p. 13 and article 127 of the Treaty, to work the Austrian National Bank with all means at its disposal to ensure the objective of price stability. As far as this is possible without compromising the objective of price stability, is. to take account of economic requirements in relation to economic growth and employment and to support the general economic policies in the European Union"

3. in article 2, paragraph 5, the words "Community" be replaced by the words "Union".

4. in article 7, paragraph 1, the phrase "Community provisions" is replaced by the phrase "Union law".

5. paragraph 7 subsection 4:

"(4) is the Austrian National Bank in accordance with § 5 para 1 and 2 of the data protection Act (DSG 2000), Federal Law Gazette 2000 I equate a public sector client no. 165/1999, concerning the permissibility of the transmission of data."

6 paragraph 8 together with the heading:

"Share capital and shareholders

§ 8. The Austrian National Bank capital is 12 million euros and is divided into 150 000 pieces shares."

7 paragraph 9:

"§ 9 sole shareholder of Austrian National Bank is the Federal Government. The shareholder rights of the Covenant are exercised by the Federal Minister of finance."

8 paragraph 10 section 1:

"(1) the regular General Assembly takes place within the first six months of each fiscal year."

9 paragraph 10 section 2:

"(2) on the written request of the Federal Government is, if this can not be done in the framework of the regular General Assembly, to convene the holding of an extraordinary general meeting within 30 days, whereby the period begins with receipt of the corresponding written application from the Austrian National Bank."

10 paragraph 3 deleted § 10.

11. the sections 11 to 14 are eliminated.

12 paragraph 16 no. 3:



"3. the resolution on the use of the balance-sheet profit and fixing of the profit to be distributed;"

13 16 Z 4, 6, 7 and 9 are eliminated §.

14 paragraph 16 Z 5:



"5. the election of an auditor and one alternate auditors;"

15 section 17 is eliminated.

16 section 18 is omitted.

17 § 19 is omitted.

18. in article 21, paragraph 2 Z 4, the phrase "in the spending plan" is replaced by the phrase "in the costing and the investment plan".

19. in article 21, paragraph 2, Z 5 is replaced by the phrase "The costing and of the investment plan" the phrase "of the issue plan".

20 paragraph 22, section 1:

"(1) the Council consists of the President, a Vice President and eight other members."

21 paragraph 22, section 2:

"(2) all members of the General Council be appointed."

22. in article 22, paragraph 3, the last sentence is omitted.

23 paragraph 22, section 4:

"(4) persons related to the active service of the Federal Government, a country or an organ of the European Union as well as members of the National Council, Federal Council, a State Parliament or the European Parliament, which can the Federal Government, a provincial government or the European Commission the General Council does not belong to. The restrictions with respect to persons standing in federal active duty does not apply to university professors of law and economics. Of the members of the General Council no more than three may belong to the full-time management of credit institutions; they can include not the Bureau."

24 paragraph 22, section 5:

"(5) that according to section 40 of the labour Constitution Act (ArbVG), Federal Law Gazette No. 22/1974, competent workforce institution is entitled to have a representative and an alternate to attend meetings of the General Council. "The representatives and in his absence the Deputy has the same rights and obligations as the members of the General Council in personal, social and welfare matters."

25 paragraph 23:

"article 23. The President, the Vice-President and the eight other members of the General Council are appointed by the Federal Government for a period of five years; Reappointment is allowed. The members of the General Council can be dismissed only during their time in Office by the Federal Government, if they no longer meet one of the requirements for the performance of their duties (article 22, para. 3 and 4) or have committed serious misconduct. Preventing the exercise of their function is considered loss of prerequisite for the performance of their duties for a period exceeding one year. A General Council member resigns during his term of Office, the Federal Government has to appoint a new Member for a period of five years."

26 paragraph 28 paragraph 2:

"(2) on the written request of three General Council members or at the request of the Governor or of the State Commissioner a Council of general meeting must be convened within eight days."

27 paragraph 29 subsection 3:

"(3) the General Council is resolutionable, if all members were loaded in time and including the Chairperson, at least five members are present."

28. in article 33, paragraph 2 is replaced "five" by the word "six".

29. in article 33, paragraph 3, the word 'Community' is replaced by the word "Union".

30. in article 34, paragraph 1, the phrase is "Article 109a par. 1 EC Treaty" by the phrase "article 283 para 1 TFEU" replaced.

31 paragraph 35 paragraph 2:

"(2) the members of the Executive Board are obliged to get their shops and obligations to the best of our knowledge and belief and the local businesses in such a way to lead, that the Austrian National Bank is put in the position, after the TFEU, the ESCB/ECB Statute, the directly applicable European Union law provisions adopted on the basis of those provisions, as well as tasks allocated otherwise by federal law to meet her."

32. paragraph 37:

"37. (1) the General Assembly elects, taking into consideration article 27 ESCB/ECB Statute annually an auditor and an alternate auditors." Auditors or audit firms are not selectable for Auditors or alternate auditors, which already have received a confirmation notice in accordance with § 274 (UGB) on the audit of the financial statements of the Austrian National Bank in five cases; This applies in cases where the check is not performed by a natural person as auditor, the audit manager and those individuals who have signed the auditor's report. The rotation provisions do not apply after an interruption of the audit activity for at least two consecutive years.

(2) the auditor has to examine the financial statements and to report on the outcome of his examination in writing. He is entitled to require everyone to carry out its tasks required clarification by the Board of Directors and in particular also to inspect the books of the Bank.

(3) the auditor is obliged to the diligent and impartial examination and to maintain secrecy."

33. paragraph 41 paragraph 1:

"123 TFEU in conjunction with Regulation (EC) are (1) overdrafts and other type of credit facility with the Austrian National Bank for institutions or bodies of the European Union, central Governments, regional or local authorities or other public authorities, other bodies of governed by public law, or public business of the EU Member States no 3603/93 of the Council of the 13.12.1993 (OJ article No. L 332/1 by the unitholders) as forbidden as the immediate purchase of debt from these places by the Austrian National Bank. This prohibition does not apply to credit institutions publicly owned; These are, as regards the provision of Central Bank money, such as private credit institutions treated."

34. in section 42 is the phrase "Laid down in article 104 EC Treaty" by the phrase "referred to in article 123 TFEU" replaced.


35. in paragraph 43, the word order is "article 105 par. 5 EC Treaty" by the phrase "article 127 para 5 TFEU" replaced.

36. paragraph 44 paragraph 1:

"(1) which is Oesterreichische Nationalbank is entitled, so far as this is necessary to fulfil his responsibilities in the framework of the ESCB, to obtain information in accordance with the EU law regulations and to identify data, process and transmit. The right to obtain information and data determination includes the power to obtain documents and appointments, to prescribe the form and structure of statements to be delivered. The circle of reportable natural and legal persons and the provisions on the confidentiality be set para 4 TFEU article 129 by the Council of the EU."

37. in article 44, paragraph 2, the word 'Community' is replaced by the word "Union".

38. paragraph 45:

"§ 45. The Austrian National Bank, its shareholder, the members of its organs, their employees, or for the Austrian National Bank professionals as well as the State Commissioner and his Deputy are required on all the confidential facts known to them only from their activity or function to maintain secrecy, unless on the basis of information obligations in the framework of the ESCB or due to the existence of one in § 38 paragraph 2 is to inform BWG of mentioned fact stock about these facts. This obligation of secrecy persists, even after the retirement from executive functions after the termination of service to the Austrian National Bank, the other activity or function."

39. in paragraph 47, no. 1 the word "Community" is replaced by the word "Union".

40. in paragraph 49, the phrase 'EC Council' is replaced by the phrase "Council".

41. in paragraph 50, the phrase 'European Community' is replaced by the phrase "European Union".

42. in article 52, paragraph 2, the phrase "EC" is replaced by the phrase "EU".

43. § 68 the following paragraph 4 is added:

"(4) separately from direct and indirect investments in companies, in particular, the proportion of the capital and of the voting rights, as well as the nominal capital are in the annual report."

44. According to article 68, the following section 68a and heading shall be inserted:

'Costing and investment plan

§ 68a. (1) the Board of Directors has a costing and to set up an investment plan, requiring the approval of the General Council before the beginning of the fiscal year.

(2) after completion of the financial year, the Board of Directors has to face the actual costs incurred and investments in a plan/actual analysis to the planning figures. The plan/actual analysis is to submit the General Council together with the audit report of the auditor to create each as soon as possible."

45. in paragraph 69, Nos. 1 and 4 accounts for paragraph 1.

46. paragraph 69 paragraph 3:

"The Federal 90 receives first vH (3) of the remaining net profit, from the remaining part of the net profit of the shareholders in accordance with the decision of the General Assembly receives a dividend up 10 vH of his share in the share capital. The rest is to use in accordance with the decision of the General Assembly."

47. in article 75, paragraph 1, the phrase "Treaty" replaced by the phrase "TFEU" and the phrase "Court of Justice of the European Community" is replaced by the phrase "Court of Justice of the European Union".

48. in article 78, paragraph 2, the phrase "shareholders" is replaced by the phrase "the shareholder".

49. paragraph 79:

"Section 79 (1) below in paragraph 1 to 5 referred to people (cash handlers) are obliged to ensure that the euro banknotes and coins which they have received and want to give back into circulation are checked for authenticity:"



1 credit institutions referred to in article 1 BWG, 2. credit and financial institutions of Member States (articles 9, 11, 13 BWG), the in Austria through a branch or by way of the free movement of services 3 other payment service providers operate, (§ 1 para. 3 ZaDiG) as well as 4 other entrepreneurs (§ 1 UGB), the processing and issuance of banknotes and coins belongs to their tasks, including money transport company, or - their activity in the exchange of banknotes and coins of different currencies is , or - which as an ancillary through the operation of automatic teller machines in the processing and issuance of banknotes are involved within the framework of this ancillary activity.

5. public funds.

The authenticity of the euro banknotes has in accordance with article 6 paragraph 1 of Regulation (EC) No. 1338/2001 according to the procedures laid down by the ECB to be carried out.

(2) the Oesterreichische Nationalbank, Münze Österreich AG, the public coffers as well as the cash actors referred to in paragraph 1 shall all euro notes and coins which they have received and which they know or have sufficient reason to believe, that it is counterfeit to retain for the purposes of checking against confirmation. Conducting or arranging this inspection, the Oesterreichische Nationalbank is responsible with respect to coins which are legal tender are in Austria, the coin Austria Aktiengesellschaft, with regard to the other coins as well as banknotes.

(3) recognized due to checking as forged or counterfeited banknotes and coins are to be kept to further provide of the criminal courts. The custody is as regards the coins which are the coin Austria Aktiengesellschaft, legal tender in Austria, and the other coins as well as banknotes of the Austrian National Bank. The Austrian National Bank and the coin Austria Aktiengesellschaft have a written report to the Federal Minister for Home Affairs, on the outcome of the review and to announce this result to the person of banknotes or coins have been withheld.

(4) the decision on the return, as well as the further disposition of the held notes and coins is the criminal courts. Fake or counterfeit banknotes, as well as fake or counterfeit coins made from base metals may not be returned. A return of counterfeit or falsified coins made of precious metals or precious metal alloys is allowed, provided that these coins were made previously unusable. The Austrian National Bank and the coin Austria Aktiengesellschaft are entitled, custody as fake or adulterated recognized the criminal courts to the further need to reset if no shorter period of custody was determined by the criminal courts banknotes and coins zehnjähriger."

50 § 79a is as follows:

"§ 79a. (1) a person who violates article 79 paragraph 1 neglects to ensure that euro banknotes and coins according to the applicable procedure for their authenticity can be checked, commits an administrative offence, unless the Act constitutes not a criminal offence falling within the jurisdiction of the courts or is threatened after other administrative penal provisions with more severe penalty and is to be punished by the district administrative authority with a fine up to €10 000.

(2) Whoever neglects contrary to § 79 paragraph 2, the falsification or adulteration to draw suspicious negotiable notes or coins from circulation and to transmit the Oesterreichische Nationalbank or of coin Austria Aktiengesellschaft, commits, unless the Act constitutes not a criminal offence falling within the jurisdiction of the courts or is threatened after other administrative penal provisions with more severe penalty, an administrative offence and is to punish by the district administrative authority with a fine up to €10 000."

51. in article 82, paragraph 1, the word is replaced "community" by "European Union law".

52. paragraph 82b:

"article 82 b." Who illegally destroyed banknotes or coins to the value of more than 15 €000, commits an administrative offence - unless the fact constitutes not a criminal offence falling within the jurisdiction of the courts or is threatened after other administrative penal provisions with more severe penalty - and to punish up to 2 €000 of the district administrative authority with a fine."

53. in paragraph 87, Nos. 1 to 5 and 8 are eliminated.

54. paragraph 87 Z 9:



"9. the reduction of the number of members of the General Council is done gradually to twelve members until 31 December 2013 and ten members until December 31, 2015. The terms of Office of the members of the General Council elected by the General Assembly to expire."

55. paragraph 87 Z 10:



10 (to § 37)

              Determining reach for the first time for the financial year 2013 the application."

56. Article 88 is omitted.

57. paragraph 89 paragraph 7:


"(7) § 1, § 2 para 2, § 2 para 5, § 7 para 1, § 7 para 4, § 8, § 9, § 10 para 1, § 10 par. 2, § 10 par. 3, § 11, § 12, § 13, § 14, § 16 Z 3, § 16 Z 4, § 16 Z 5, § 16 no. 6, § 16 Z 7, § 16 Z 9, article 17, article 18, article 19, § 21 para 2 Z 4, § 21 para 2 Z 5, section 22, paragraph 2" , § 22 para 3, § 22 para 4, § 22 para 5, § 23, § 28 para. 2, article 29, para. 3, § 33 para 2, § 33 ABS. 3, article 34, paragraph 1, article 35, paragraph 2, § 37, § 41 para 1, § 42, § 43, article 44, paragraph 1, § 44 para 2, § 45, § 47 Z 1, § 49, § 50, § 52 para 2, § 68 para 4, § 68a, section 69, paragraph 1 Z 1, § 69 paragraph 3 ", Section 69, paragraph 4, article 75, paragraph 1, article 78, paragraph 2, article 79, § 79a, section 82 para 1, § 82b, § 87 Z 9, § 87 Z 10, § 88 in the version of Federal Law Gazette I no. 50/2011 with August 1, 2011 into force."

Article 2

Amendment of the financial market Authority Act

The financial market Authority Act, Federal Law Gazette I no. 97/2001, as last amended by Federal Law Gazette I no. 107/2010, is amended as follows:

1. in article 18, paragraph 1 and article 19, paragraph 1, 5 and 5a, the phrase "Four million" is replaced by the phrase "Eight million".

2. paragraph 19 section 4:

'(4) the Federal Government shall contribute EUR 3.5 million per financial year of the FMA. This post, as well as income, not accruing to the FMA on the basis of the compensation of supervisory costs or related advance payments or in accordance with paragraph 10, are deducted from the total cost of the FMA. The remaining difference is divided into application the ratios referred to in paragraph 2 to the accounting groups 1 to 4. "That this per accounting group resulting amounts after deduction of permit fees obtained on the basis of paragraph 10 costs that present themselves, by the subject to supervision by the FMA natural and legal persons in accordance with the provisions of the BWG, the VAG, the WAG 2007, to replace the ZaDiG, E money Act 2010 and the PKG to notices of payment due by the FMA are."

3. in article 19, paragraph 5 deleted the phrase "and in accordance with article 20 ZaDiG".

4. in article 19, paragraph 5a is omitted the phrase "and in accordance with § 20 ZaDiG".

5. § 28 19 the following paragraph is added:

"(19) I will take no. 50/2011 article 18, paragraph 1 and article 19, paragraph 1, 4 and 5 in the version of Federal Law Gazette 1 August 2011 effect. § 19 paragraph 5a in the version of Federal Law Gazette I no. 50/2011 effective with January 1, 2012."

Fischer

Faymann