37. Federal Law, with which the Investment Fund Act, the Real Estate Investment Fund Act, the Stock Exchange Act, the Operational Staff Pension Act and the Pensionskassengesetz (Pensionskassengesetz) are amended

The National Council has decided:

Article 1

Amendment of the Investment Fund Act

The Investment Fund Act, BGBl. No. 532/1993 Type. II, as last amended by the Federal Law BGBl. I n ° 9/2005, shall be amended as follows:

Section 12 (4) reads as follows:

" (4) The account report shall be considered by the bank examiner of the capital investment company; for this examination, § § 268 to 276 of the German Commercial Code (HGB) shall apply mutationally. The audit also has to cover compliance with this federal law and the provisions of the Fund. The audited accounts report shall be submitted by the capital investment company at the latest within four months of the conclusion of the FMA's accounting year. The half-yearly report shall be submitted to the FMA within two months of the end of the reporting period. "

Article 2

Amendment of Real Estate Investment Fund Law

The Real Estate Investment Fund Act, BGBl. I No 80/2003 Art. I, shall be amended as follows:

1. § 1 para. 3 sixth sentence reads:

"The audit of the annual accounts report by the bank examiner of the capital investment company has also to extend to the attention of this federal law under the fund provisions."

Section 13 (3) reads as follows:

" (3) The accountability report shall be considered by the bank examiner of the capital investment company for real estate; for this examination, § § 268 to 276 of the German Commercial Code (HGB) shall apply in a reasonable manner. The audit also has to cover compliance with this federal law and the provisions of the Fund. The audited accounts report shall be submitted by the capital investment company at the latest within four months of the end of the financial year of the financial market surveillance authority. The half-yearly report shall be submitted to the Financial Market Supervisory Authority within two months of the end of the reporting period. "

Section 29 (4) reads as follows:

' (4) The bank examiner of the capital investment company for real estate shall, when it was established and subsequently, in the course of the examination of the report, make a statement as to whether the experts, in his opinion, were duly appointed in accordance with paragraph 1. , and the other conditions laid down in paragraphs 1 to 3 have been met. If, after the Bank's auditor is perceived, these conditions are missing or are eliminated, he shall report immediately to the depositary and the financial market supervisory authority. The Financial Market Supervisory Authority shall not be held liable for the selection and suitability of the experts. "

(4) § 44 shall be replaced by the name "§ 44 (1)" . The following paragraph 2 is added:

" (2) § 1 para. 3, § 13 para. 3 and § 29 para. 4 in the version of the Federal Law BGBl. I n ° 37/2005 will enter into force on 1 July 2005. '

Article 3

Amendment of the Stock Exchange Act

The Stock Exchange Act, BGBl. N ° 555/1989, as last amended by the Federal Law BGBl. I n ° 127/2004, is amended as follows:

Section 8 (3) reads as follows:

"(3) The audit by the auditor shall also include compliance with the provisions of this Federal Law, and the examination result shall be included in the audit report."

Article 4

Amendment of the Operating Staff Welfare Act

The Corporate Employee Pension Act, BGBl. I n ° 158/2002, as last amended by the Federal Law Gazette (BGBl). I n ° 36/2005, is amended as follows:

1. § 20 (4) last sentence reads:

"The completeness of the protection is to be checked by the bank auditor of the MV cash register and to be explained in the bank's supervisory audit report."

(2) The following paragraph 9 is added to § 46:

" (9) § 20 para. 4 last sentence in the version of the Federal Law BGBl. I n ° 37/2005 will enter into force on 1 July 2005. '

Article 5

Amendment of the Pensionskassengesetz

The Pensionskassengesetz, BGBl. No. 281/1990, as last amended by the Federal Law BGBl. I No 8/2005, shall be amended as follows:

1. In § 7 (5) Z 5 the sentence of the sentence shall be deleted ", and the auditor has confirmed this" .

2. § 12 (4) Z 3 reads:

" 3.		The FMA demonstrates that the interests of persons entitled to benefit are sufficiently safeguarded in this investment and risk community and that the obligations arising from pension fund contracts must be regarded as being permanently fulfilled. "

3. § 12 (5) Z 2 reads:

" 2.		The FMA shows that it does not adversely affect the interests of eligible persons and those entitled to benefits, and that the obligations under the pension fund contracts can continue to be regarded as being permanently fulfilled. "

4. § 12 (5) last sentence reads:

"The separation or aggregation of investment and risk communities shall be notified without delay to the FMA, following appropriate evidence in accordance with Z 2."

5. § 19 (4) reads:

" (4) The pension fund shall inform the eligible persons in writing in writing, in writing, of the capital development and the administrative costs withheld at the level of 31 December of the previous financial year. Furthermore, the pension fund has to inform the beneficiaries of the assessment and performance of the investment and risk community as well as all other data relevant for the fulfilment of the pension commitment, provided that the pension fund is the underlying pension commitment is not a performance-oriented undertaking with an unrestricted obligation to provide the employer with an unrestricted obligation to provide a pension. In addition, the persons entitled to benefit shall be informed of any changes in the pension benefits. "

6. § 20 (4) reads:

" (4) The business plan and any modification of the business plan shall be subject to the approval of the FMA, which may be provided with appropriate conditions and deadlines. The business plan as well as any change in the business plan must be checked by the test factual; the application for authorization shall be accompanied by the report of the test report on the outcome of the examination. The authorization shall be granted if the business plan complies with the recognised rules of actuarial mathematics, if the interests of the beneficiaries are sufficiently protected and, in particular, the obligations arising out of the Pension fund contracts are to be considered as permanently fulfilling. The pension fund has to prove to the FMA the existence of these circumstances. "

Section 20a (4) reads as follows:

" (4) The pension fund shall immediately notify any appointment of an actuary of the FMA in writing. The display must be accompanied by all documents to certify that there are no exclusionary reasons. The pension fund and the actuary have to provide the FMA with all necessary information and to submit further documents at their request. If there is reason to believe that grounds for exclusion are available, or if the FMA is not given the necessary information or documents, it is necessary to proceed in accordance with Section 33 (6). If the actuary does not comply with his obligations or if there are subsequently grounds for exclusion, the FMA has to pay the pension fund under threat of a forced penalty to order a new actuary within two months. If the pension fund does not comply with this mandate, Section 33 (6) Z 3 shall apply. "

8. § 21 (3) reads:

" (3) The pension fund shall immediately inform the FMA in writing of any order of a test factual. The display must be accompanied by all documents to certify that there are no exclusionary reasons. The pension fund and the audit office shall provide the FMA with all necessary information and further documents at the request of the FMA. If there is reason to believe that grounds for exclusion are available, or if the FMA is not given the necessary information or documents, it is to be done in accordance with § 33 (6). "

9. § 21 (5) reads:

" (5) The audit factual has to exercise its duties on its own responsibility carefully, in compliance with the statutory provisions and all technical principles, in accordance with the recognized rules of actuarial mathematics. If the test case does not comply with its obligations or if the grounds for exclusion are subsequently issued, the FMA has to pay the pension fund under threat of a penalty, to order a new test report within two months. If the pension fund does not comply with this mandate, Section 33 (6) Z 3 shall apply. "

10. § 21 (8), first sentence reads:

" The results of the examination shall be recorded once a year in an audit report and shall be sent to the Executive Board and the Supervisory Board of the Pension Fund and to the auditor no later than five months after the end of the financial year; the Pension fund has to submit the audit report no later than six months after the end of the financial year of the FMA. "

11. § 21 (9) reads:

" (9) In the course of the performance of its tasks, facts are identified by the test factual, the

1.		the stock of the pension fund or the fulfilment of its obligations under threat or
2.		Provisions
a)			this federal law, or
b)			a regulation adopted pursuant to this Federal Act or a decision adopted pursuant to this Federal Act, or
c)			§ 5 BPG
He shall immediately report these facts to the Board of Directors and the Supervisory Board of the Pension Fund and the FMA in writing, together with the necessary explanations. However, if there are minor deficiencies in the short term, it shall not be reported until the pension fund has remedied the deficiencies found within a period of not more than three months. A report to the Supervisory Board and the FMA shall also be reimbursed if the members of the Board of Management do not properly grant any information requested by the audit factual within a reasonable period of time. "

12. § 21 (10).

13. § 25a (1) Z 6 reads as follows:

" 6.		the possible selection of assets according to ethical, environmental and/or social criteria "

14. § 30a (1) reads:

" (1) The audited annual financial statements of the pension fund, the audited accounts of the investment and risk communities and the audit report on the annual accounts and the accounting reports of the predisposition and risk communities shall be submitted by the pension fund at the latest within six months of the end of the financial year of the FMA and the Oesterreichische Nationalbank. Furthermore, the pension funds of the FMA have, at the latest within six months after the end of the financial year, the data of the annual financial statements as well as the accounting reports of the investment and risk communities on electronic data rates in standardised form. The FMA may prescribe an outline of the structure provided for in Annexes 1 and 2 to § 30 (4) for the electronic notification by Regulation if it is necessary for prudential reasons; it has to do so on the basis of the economic interest in the functional ability of pension funds to be taken into account. "

15. § 31 (3) reads:

" (3) In the course of its audit work, the auditor shall be able to determine the facts that jeopardise the stock of the audited pension fund or the fulfilment of the obligations under which the pension fund is fulfilled or the statutory statutory provisions applicable to the supervision of the pension fund. or any other provisions or regulations of the Federal Minister of Finance or of the FMA, he shall immediately report these facts in writing without prejudice to § 273 (2) of the German Commercial Code (HGB) with explanations also to the FMA. However, if there are minor deficiencies in the short term, it shall not be reported until the pension fund has remedied the deficiencies noted within a maximum of three months. Reports shall also be reported if the members of the Management Board do not properly grant any information required by the auditor within a reasonable period of time. "

16. § 31 (4) (2) to (4) are:

" 2.		the observance of § § 7, 12 and 18;
3.		the observance of § 25;
4.		the observance of the other provisions of this Federal Law. "

Section 33 (3) reads as follows:

" (3) In its area of responsibility as a pension authority (paragraph 1 and 2), the FMA may, without prejudice to the powers conferred on it under other provisions of this Federal Law,

1.		the pension funds require the submission of interim financial statements, evidence of specific form and structure and audit reports, and also require pension funds and their institutions to provide information on all business matters and to to inspect the books, documents and data carriers of the pension funds;
2.		obtain information from the auditor and the auditor; furthermore, it may obtain and give all necessary information from the Government Commissioner appointed pursuant to paragraph 4 (2) (2) of the Treaty;
2a.		by auditors, auditors and other experts to carry out all necessary exams; the grounds for exclusion pursuant to section 21 (2) and section 31 (1) shall apply; the issuing of information by the FMA to those of it shall be applied to the commissioned auditors shall be permitted to the extent that this is appropriate for the performance of the audit mandate;
3.		Commission its own auditor;
3a.		for the examination of branches in Member States, the competent authorities of the host Member State shall also ask for the examination to be carried out if, in the case of an examination in accordance with Z 3, this simplifies or accelerates the procedure, or if it does so in the Interest of convenience, simplicity, convenience or cost saving is located. "

Section 36 (3) reads as follows:

"(3) By way of derogation from paragraph 2, in the case of apportionment pursuant to section 25 (2) Z 5, the proof must be furnished only at the closing date of 30 June and 31 December in respect of land and buildings situated in the country."

§ 46a (1) Z 5 reads as follows:

" 5.		The indication of the order of the test factuary according to § 21 (3) shall be left; "

20. In § 46a (1) the following Z 5a is inserted after Z 5:

" 5a.		The audit report in accordance with Section 21 (8) of the FMA has not been submitted in due time; "

21. § 46a (2) reads:

(2) Anyone who, as a test factual, fails to display the facts referred to in Article 21 (9) without delay in writing to the FMA shall, if the action does not constitute the offence of a criminal offence within the jurisdiction of the Courts, enter into a criminal act, Administrative surrender and is punishable by the FMA with a fine of up to 20 000 euros. "

22. The following paragraphs 24 and 25 are added to § 51:

" (24) § 12 (4) (3) and (5), § 20a (4), § 21 (3), (5), (8) and (9), § 31 (3) and (4) (4) (2) to (4) and Article 33 (3), as amended by the Federal Law BGBl (Federal Law). I No 37/2005 will enter into force on 1 July 2005. Section 21 (10) shall not enter into force on 1 July 2005.

(25) § 7 (5) Z 5, § 19 (4), § 20 (4), § 25a (1) Z 6, § 30a (1), § 36 (3) and § 46a (1) (5) and (5a) and (2) in the version of the Federal Law BGBl. I n ° 37/2005 enter into force on 24 September 2005. '

Fischer

Bowl