Key Benefits:
8. Federal Law, with which the Pensionskassengesetz, the Insurance Supervision Act, the Income Tax Act 1988, the Corporate Tax Act 1988, the inheritance and gift tax law 1955, the Insurance Tax Act 1953, the Corporate Law, the Labour Constitution Act, the Labour Contract Law Adaptation Act, the Labor Code of Labor Management Act, and the Insolvency Law on Remuneration Assurance will be amended
The National Council has decided:
table of contents
Article 1 |
Reference to the implementation of policies |
Article 2 |
Amendment of the Pensionskassengesetz |
Article 3 |
Amendment of the Insurance Supervision Act |
Article 4 |
Amendment of the Income Tax Act 1988 |
Article 5 |
Amendment of the Corporate Tax Act 1988 |
Article 6 |
Amendment of the inheritance and gift tax law 1955 |
Article 7 |
Amendment of the Insurance Tax Act 1953 |
Article 8 |
Amendment of the Law on the Law of the State |
Article 9 |
Amendment of the Labour Constitution Act |
Article 10 |
Amendment of the Working Contract Law Adaptation Act |
Article 11 |
Amendment of the Operating Staff Welfare Act |
Article 12 |
Amendment of the Insolvency-Remuneration Assurance Act |
Article 1
This federal law lays down that Directive 2003 /41/EC of the European Parliament and of the Council of 3 June 2003 on the activities and supervision of institutions for occupational retirement provision (OJ L 327, 22.12.2003, p. No. OJ L 235 of 23 September 2003, p. 10).
Article 2
Amendment of the Pensionskassengesetz
The Pensionskassengesetz BGBl. No. 281/1990, as last amended by the Federal Law BGBl. I n ° 161/2004 is amended as follows:
1. In Section 1 (2) (1) (1) the word shall be "Performance" by the word "payout amount" replaced.
2. In Section 1 (2) (2), the word order shall be "Witwen-oder Witwerpension" through the phrase "Survivor pension" replaced.
3. § 2 (1) reads:
' (1) The pension fund shall be responsible for carrying out pension fund transactions in the interests of the beneficiaries of the pension scheme, in particular with regard to safety, profitability and the need for liquid resources, as well as to an appropriate mix of and the spread of assets. The pension fund has to guarantee, for each investment and risk community, a minimum income according to para. 2 to 4 (pension fund commitment with a minimum guarantee of income). In the pension fund contract, the guarantee of the minimum order can be ruled out by the pension fund (pension fund commitment without guarantee of minimum payment). The exclusion of the minimum order must be made in the collective agreement, in the operating agreement or in the agreement in accordance with the contractual model under the SPS Act as well as in the declaration pursuant to § 3 para. 2 PKVG or a similar one shall be agreed on national law. In the case of performance-oriented pension commitments with unrestricted rights of the employer, the agreement of the exclusion of the minimum order in the collective agreement, in the operating agreement or in the agreement can be determined in accordance with If an employer does not comply with his or her obligation to retire, the pension fund will be able to guarantee the minimum return from that date. Pension fund commitments with minimum income guarantee and pension commitments without a minimum guarantee guarantee may only be jointly managed in an investment and risk community if an administration is in separate investment and risk management. According to the provisions of Section 12 (2) to (5), risk communities are not possible or the FMA is proved that it does not affect the interests of eligible persons and persons entitled to benefits and the obligations arising from the Pension fund contracts can continue to be regarded as permanently fulfilling. "
4. § 5 Z 3 reads:
" 3. |
Obligation to follow: the employer's obligation |
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a) |
unforeseen coverage gaps created on the basis of inaccurate assumptions on the basis of the accounts (§ 20 (2) (3)) shall be concluded within a maximum of ten years; the transfer of contributions shall be paid annually by at least one tenth of the total amount of contributions. the original coverage gap, |
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b) |
close other cover gaps without delay by the performance of one-off contributions; |
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An unrestricted readying obligation is available if each coverage gap according to lit. a and b shall be closed; " |
5. In § 5, the following Z 4 to 6 shall be added:
" 4. |
Establishment: the establishment of occupational retirement provision, which, irrespective of the legal form in question, operates under the capital-ceiling procedure and is established legally independently of the employer for the purpose, subject to compliance with the relevant provisions of the relevant legislation. -to carry out pension fund transactions and to carry out activities directly related to them and which, in accordance with the provisions of Directive 2003 /41/EC, are to be carried out by the competent supervisory authority of the The home Member State shall be approved and the conditions for the holding has been approved by the competent supervisory authority of the home Member State; |
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5. |
Home Member State: the Member State in which the institution has its head office and its head office or, if it has no seat, its head office; |
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6. |
Member State of activity: the Member State whose social and labour legislation is relevant to the relationship between the employer and the employees for the occupational retirement provision. " |
6. § 7 reads:
" § 7. (1) Each pension fund must, in the interests of maintaining its functioning, keep its own own resources at any time at its own risk. These have at least 1 vH of the total value of the cover provision of all investment and risk communities at the last balance sheet date (Annex 1 to § 30, Form A-Balance Sheet of the Pension Fund, Passiva Pos. I. Z 1 and 2) less of the parts of the obligation covered by insurance in accordance with Section 20 (1).
(2) Own resources within the meaning of paragraph 1 are:
1. |
the basic capital paid, |
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2. |
the capital reserves, |
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3. |
the retained earnings, |
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4. |
the balance sheet profit that is not intended to be distributed, |
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5. |
the untaxed reserves and |
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6. |
the supplementary capital referred to in paragraph 5. |
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A balance sheet loss is to be deducted from the own funds. |
(3) In order to secure the obligations arising from the minimum payment pursuant to Article 2 (2) and (3), each pension fund shall form a reserve (minimum reserve reserve) in addition to the own funds referred to in paragraph 1, which shall be at least 0.45 vH per year. Total value of the cover provision with a minimum profit guarantee of all investment and risk communities at the last balance sheet date (Annex 1 to § 30, Form A-Balance Sheet of the pension fund, Passiva Pos. I. Z 1), up to 3 vH of the total value of the cover reserve with a minimum yield guarantee of all investment and risk communities at the last balance sheet date (Annex 1 to § 30, Form A-Balance Sheet of the Pension Fund, Passiva Pos. G. I. Z 1). Those parts of a reserve which have been transferred from the reserve reserve and are not used for the obligations arising out of the minimum return are to be returned to the minimum return. In so far as the minimum reserve reserve does not exceed the statutory requirement, it may only be used for obligations arising from the minimum payment pursuant to § 2 (2) and (3).
(4) The basic capital paid in an overoperating pension fund shall be at least 5 million euros.
(5) Supplementary capital shall be those paid in own resources;
1. |
the pension fund is made available for at least eight years and cannot be terminated by the creditor before the expiry of this period; the pension fund shall be subject to early termination only in accordance with the conditions laid down in the the Z 5 shall be admissible; |
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2. |
for the interest to be paid, insofar as they are covered by the net profit (before the return movement), |
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3. |
which may be repaid prior to liquidation only with a partial deduction of the net losses incurred during its term of operation; |
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4. |
which are subordinated pursuant to Article 45 (4) of the BWG, |
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5. |
the remaining maturity of which is at least three years; the pension fund may terminate with effect from the expiry of the remaining term of three years without notice period, if this is contractually permissible and the pension fund previously capital in the same the level and at least the same own-medium quality, and the auditor has confirmed this; |
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6. |
which can be credited up to 100 vH of the own resources referred to in paragraph 2 (2) (1) to (5). |
(6) Paragraph 1 is based on those parts of the cover provision without the minimum guarantee guarantee of all investment and risk communities at the last balance sheet date (Annex 1 to Section 30, Form A-Balance Sheet of the Pension Fund, Passiva Pos. I. Z 2 first indent), which were formed for pension fund commitments with unrestricted readmission obligation on the part of the employer. In the event that an employer does not comply with his or her obligation to retire, the pension fund shall again apply the obligation to comply with the provisions of the first paragraph.
(7) (1), (3) and (9) are those parts of the cover provision with the minimum guarantee of all investment and risk groups at the last balance sheet date (Appendix 1 to § 30, Form A-Balance Sheet of the Pension Fund, Passiva Pos. I. Z 1, first indent), which were formed for pension fund commitments with an unrestricted obligation to pay the employer, provided that the obligation to pay includes the obligation pursuant to Article 2 (2) and (3) and provided that the affected persons concerned have the right to Pension fund of the FMA indicates the existence of this obligation to follow up with meaningful documents. In the event that an employer does not comply with his or her obligation to retire, the pension fund shall again apply the obligation to comply with the provisions of para. 1, 3 and 9 from that date.
(8) The own funds referred to in paragraph 2 exceed the requirement laid down in paragraph 1, and the part of own funds which exceed the requirement may be credited to the minimum reserve requirement required under paragraphs 3 and 9.
(9) By way of derogation from Section 7 (3), each pension fund for pension fund commitments with a minimum guarantee, which is managed from an activity pursuant to Article 11a (1), has to be additionally provided for the protection of the obligations arising from the minimum payment pursuant to § 2 (2) and (3). The own funds referred to in paragraph 1 shall immediately be subject to a reserve (reserve reserve) in the amount of 3 vH of the total value of the cover provision with a minimum guaranteed guarantee of all pension fund commitments arising from an activity pursuant to Article 11a (1) of the managed to keep. "
7. § 9 Z 5 reads:
" 5. |
the share capital |
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a) |
for occupational pension funds in accordance with § 7 AktG and |
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b) |
for supercompany pension funds in accordance with § 7 para. 4 PKG |
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the Board of Management is freely available to the Executive Board without any burden on the domestic market; " |
8. According to § 11, the following § § 11a and 11b together with the headings are inserted:
" Austrian Pension Funds in Member States
§ 11a. 1. A pension fund may exercise its activities in the Member States by means of the freedom to provide services or through a branch.
(2) If a pension fund intends to conclude a pension contract with an employer in the territory of another Member State, it shall indicate to the FMA before the contract is concluded:
1. |
The Member State in whose territory the activity is to be carried out; |
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2. |
the name of the employer; |
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3. |
the main characteristics of the pension scheme to be operated for that employer. |
(3) If a pension fund intends to set up a branch in the territory of another Member State, it shall indicate this to the FMA, using the following information:
1. |
The Member State in whose territory the branch is to be established; |
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2. |
the address under which the documents of the pension fund may be requested in the Member State of activity and to which the communications for the directors responsible may be addressed; |
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3. |
the names of the heads of the branch responsible, who must be provided with sufficient authority to oblige the pension fund to third parties and to provide them with the authorities and the courts of the Member State of activity; . |
(4) In the light of the project, the FMA has no reason to determine the adequacy of the management structure and the financial position of the pension fund, as well as the reliability and professional competence of the managers in relation to the The Member State of activity shall submit the information referred to in paragraph 2 and 3 at the latest within three months after the date of the entry of all the information provided by the competent authority of the Member State of activity; the pension fund shall be submitted by the Member State of activity of the Member State of activity. To communicate the information without delay. If the conditions for the transmission are not available, the FMA must agree to the pension fund in a modest manner within the above time limit.
(5) The Pension Fund shall notify the FMA in writing of any change in the terms of the information provided for in paragraphs 2 and 3 at least one month before the date of implementation of this change. Within three months, the FMA shall forward this information to the competent authority of the Member State of operation.
(6) The FMA has to inform the pension fund of the relevant labour and social provisions in the area of occupational retirement provision, which are to be observed by the pension fund, and those provisions which are subject to the provisions of Article 18 (7) and Article 20 (7) of Directive 2003 /41/EC should be applied as soon as it has received that information from the competent authority of the Member State of activity.
7. The pension fund may exercise the activity in the Member State concerned by means of the freedom to provide services or through a branch after receipt of the notification provided for in paragraph 6. In the event of non-expression of the competent authority of the Member State of activity, the pension fund may, at the latest after two months after the date of transmission of the information by the FMA in accordance with paragraph 3 or 4, be taken into account in respect of the relevant work. and social legislation in the field of occupational retirement provision and of all the rules to be applied in accordance with Article 18 (7) and Article 20 (7) of Directive 2003 /41/EC.
(8) The FMA shall have a register in which all pension funds engaged in their activities in the Member States by means of the freedom to provide services or through a branch shall, in each case, specify the Member States in which they operate. are registered.
Institutions from Member States in Austria
§ 11b. (1) Pensionskassentransactions may be provided by an institution pursuant to Section 5 (4) (4) of the Austrian Federal Republic of Austria (Austria) by means of the freedom to provide services or via a branch office in accordance with Section 5 (2) to (9).
(2) If an institution intends to manage the pension fund of an employer in Austria, this shall require a notification from the competent authority of the home Member State of the information referred to in Article 11a (2) (2) and (3) to the FMA.
(3) When a branch in Austria is set up, the FMA may request the competent authority of the home Member State to provide all the information on the institution pursuant to Article 11a (3) (2) and (3).
(4) Following the transmission of the information referred to in paragraph 2, the FMA shall, within two months, inform the competent authority of the home Member State that the institution shall comply with the relevant labour and social legislation, in particular:
1. |
§ 1, § 2 Z 1, § 3, § 4, § 5, § 6, § 16, § 16a, § 17, § 18 and § 19 BPG and |
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2. |
§ 1 (2) and (2a), § 15, § 15a, § 16, § 17, § 18, § 28, § 43 and § 48 are to be complied with, as well as |
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3. |
§ 11b, § 19, § 25a (4), § 30a (2) and § 25 (4), (6) and (7) are to be applied. |
(5) After the notification in accordance with paragraph 4, but at the latest after the expiry of a two-month period after the notification in accordance with paragraph 2, the institution pursuant to paragraph 1 may provide the activity in Austria with regard to the displayed pension fund business. In the case of disputes between eligible and eligible employers and between employers and the establishment pursuant to § 5 Z 4 of such cross-border pension fund transactions, the court has jurisdiction in the courts of that court. Sprengel the seat of the court 1. An instance which would be responsible for disputes arising from the employment relationship on which the pension fund was based. The agreement of a non-domestic court of jurisdiction is permissible subject to different rules. The pension fund contract and all essential documents are provided by the establishment in accordance with § 5 Z 4, if not in the collective agreement, in the operating agreement or in the agreement according to the contract model according to the SPS Act as well as in the A declaration pursuant to § 3 paragraph 2 of the German Act on the Law of the European Union or of a similar national law has been expressly agreed otherwise to be made available in German.
(6) The institution referred to in paragraph 1 shall notify the FMA in writing of any change in the information referred to in Article 11a (2) at least one month prior to the implementation of this change. The FMA may submit its observations in accordance with paragraph 4.
(7) The bodies referred to in paragraph 1 which carry out activities in Austria by means of the freedom to provide services or through a branch shall have the provisions referred to in paragraph 4 and the provisions adopted pursuant to the said provisions. to comply with regulations and regulations.
(8) The FMA shall inform the competent authorities of the home Member State of any significant changes to the provisions of paragraph 4, provided that they affect the activities of a body in Austria.
(9) The FMA may request the competent authorities of the home Member State to require the formation of a separate accounting association for those liabilities arising from the activity in Austria and the corresponding assets held by the FMA of a body referred to in paragraph 1. "
9. § 15 para. 1 second sentence reads:
" Therein:
1. |
in accordance with the collective agreement, the operating agreement or the agreement in accordance with the contract model under the SPS Act, or in accordance with the contract model, for pension fund pledges which are subject to the law on the establishment of the company's law or |
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2. |
for undertakings from another Member State in accordance with the relevant labour and social legislation in force in that Member State |
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to regulate the rights of the pension fund to the benefits of the pension fund. " |
Section 15 (2) reads as follows:
" (2) The determination of pension contributions and benefits shall be carried out at least on the balance sheet date in accordance with a sufficiently prudent actuarial procedure in accordance with the recognised rules of actuarial mathematics; and to take into account all the obligations relating to contributions and benefits in accordance with the pension scheme, so as to ensure a consistent financing of the cover requirement. "
11. § 15 (3) Z 7 to 9 are:
" 7. |
the exclusive exclusion from the pension fund of the performance of the minimum order; |
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8. |
the principles of the investment policy applicable at the time of the conclusion of the pension fund contract; this may also be done by adding the declaration on the principles of the investment policy (§ 25a) as an annex to the pension fund contract; |
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9. |
the nature of the risks arising from the assessment of the pension fund as well as the technical risks and the distribution of these risks on the pension fund, employer, creditor and beneficiaries; " |
12. § 15 (3) Z 14 reads:
" 14. |
the nature of the cost calculation and the amount of the costs (administrative costs) |
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a) |
the employer, |
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b) |
the beneficiaries of the investment in the investment and risk community; and |
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c) |
in respect of the contributor, in the event that the employer temporarily suspends or restricts the payment of contributions for compelling economic reasons or withstands the commitment to benefit; " |
13. In accordance with § 16, the following § 16a and title shall be inserted:
" Administrative costs
§ 16a. (1) The pension fund shall be entitled to withhold remuneration from the pension fund contributions and from the cover requirement in accordance with § 48, which must be appropriate and market-standard.
(2) The pension fund shall be entitled to withhold a one-time fee of no more than 1.0 vH in the case of a calculation or transfer of an inconspicuity amount (§ 5 (1) and (1a) of the BPG) of the inconspicuity amount, with the following costs: The fee shall not exceed the amount of EUR 300 per inconspicuity amount.
(3) The pension fund is entitled to charge an annual cost contribution of not more than 0.5 vH of the respective cover provision for the administration of non-contributory charges, with the cost contribution the amount of 100 euros per annum. the non-contributory nature of the contract.
(4) In order to apportion the assets of the investment and risk community, the pension fund is entitled to retain the remuneration, which must be appropriate and market-based, from the investment result.
(5) The absolute amounts referred to in paragraphs 2 and 3 shall be valorized in accordance with the 1996 consumer price index 1996-special breakdown "services" with the value of the change in the value for the month in accordance with the consumer price index 1996. July of a calendar year compared to the value which was to be given for January 2006. The new amount is to be made known by the FMA and is valid from 1. Jänner of the following year.
(6) All administrative costs according to para. 1 to 4 are to be agreed in the pension fund contract (§ 15 para. 3 Z 14). The assets of the investment and risk community shall not be charged with costs which are not mentioned in paragraphs 2 to 4 of this Article. "
14. § 17 (1) to (3) are:
" (1) A termination of the pension fund contract by the employer or by the pension fund or a consensual termination of the pension fund contract is only admissible and legally effective if a transfer of the pension fund contract according to paragraph 4 to be transferred Assets on another pension fund, a body (§ 5 Z 4) or an occupational collective insurance (§ 18f Insurance Supervision Act-VAG) of an insurance company entitled to operate the life insurance in the home country is ensured. The termination or consensual termination of the pension fund contract can only take effect jointly for all qualifying and eligible persons covered by this pension fund contract, unless the collective agreement is concluded, Operating agreement or agreement according to the contractual model is stipulated that all persons entitled to benefit remain with the pension fund upon termination of the pension fund contract.
(2) The period of notice of termination for the pension fund contract by the employer or the pension fund is one year; the termination may only be issued with effect on the balance sheet date of the pension fund. The consensual termination of the pension fund contract shall be effective at the earliest on the balance sheet date of the pension fund, which is at least six months after the agreement of the consensual termination of the pension fund contract.
(3) Following the departure of an employer from a group pursuant to section 3 (3), where there is a need for transmission, the assets to be transferred in accordance with paragraph 4 shall be effective for the next following balance sheet date of the operating company concerned. Pension fund transferred to another pension fund, a body (§ 5 Z 4) or a company collective insurance scheme (§ 18f VAG) of an insurance company entitled to operate the life insurance in the country. "
15. § 18 reads:
" § 18. The pension fund has an account, broken down by employer and employee contributions, for each of the eligible persons and the persons entitled to benefit. This account must include all essential data for each eligible and eligible person and shall be used to calculate the cover provision and the amounts of the pension and infestation. "
16. § 19 reads:
" § 19. (1) The employer, the qualifying and the eligible persons shall have all the circumstances in the pension fund set for the pension fund's contributions, benefits and pension benefits and their changes to the extent of the pension fund. in writing without delay. If this communication does not take place or does not take place in a timely manner, then they have any disadvantages to bear on their own. Details must be laid down in the Pensionskassenvertrag.
(2) The employer shall have the right to benefit and benefit from the pension fund for inclusion in the pension scheme, in particular through the provisions of the pension fund contract in accordance with § 15 (3) Z 1, 2, 3, 6, 7, 8 to 14 and 17. If they are affected by this, the employer shall inform the eligible persons and the pension fund of the persons entitled to benefit over any subsequent change in the pension fund contract. The pension funds and the employer have to provide information on the content of the pension fund contract to the persons entitled to the pension and the person entitled to the pension.
(3) The pension fund shall, at the level of 31 December of the previous financial year, give an appropriate written form to the eligible persons in writing, in writing, on the development of contributions and capital, the administrative costs withheld, and the amount of the financial contribution to be made available to the public. the acquired rights of their pension commitment. This information shall also contain a forecast of the estimated level of supply services. In addition, the pension fund has to inform the eligible persons of the assessment and performance of the investment and risk community as well as all other data relevant to the fulfilment of the pension commitment, provided that it is in the case of the underlying pension commitment, not a performance-oriented undertaking with an unrestricted obligation to follow the employer's obligation to provide a pension.
(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. In addition, 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. In addition, the persons entitled to benefit are to be informed of any change in pension benefits, provided that the underlying pension fund is not a performance-oriented undertaking with an unrestricted obligation to provide pension benefits for the pension scheme. Employer.
(5) The pension fund has to inform any person entitled to benefit in writing about the entitlement to an old age, survivor's or invalidity benefit as well as the payment modalities of the pension in case of the benefit of the benefit.
(6) The FMA may lay down the minimum content and the structure of the information provided for in paragraphs 3 to 5 by regulation if it is in the interests of eligible persons and beneficiaries, better comparability and transparency, and under It is necessary to take stock of the economic interest in a functioning pension system.
(7) In accordance with the existing technical possibilities, a secure electronic access to this information may also be provided in place of the written information referred to in paragraphs (2) to (5), after obtaining the consent of the creditholder or the person entitled to benefits. Information at the pension fund. "
17. In Section 20 (2) (3), the word order shall be deleted "Cost surcharges," .
18. § 20 para. 2 Z 7 reads:
" 7. |
the formulae for the calculation of the minimum order in accordance with § 2 (2) and (3) or, if applicable, a reference to the FMA regulation pursuant to § 2 para. 4; " |
19. § 20 (3) reads:
" (3) The precautionary principle should be used to calculate the probability tables used for the calculation of technical provisions, with the main characteristics of the eligible persons and pension fund commitments and In particular, the expected changes to the relevant risks must be taken into consideration. "
20. According to Article 20 (3), the following paragraphs (3a) and (3b) are inserted:
" (3a) The method for calculating the technical provisions and the basis of assessment must not change from the financial year to the financial year. Deviations may, however, be allowed in the event of a change in the legal, demographic or economic conditions on which the assumptions are based.
(3b) A cover gap resulting from the conversion of the accounting principles shall be closed within a maximum of ten years and at least one tenth of each year. If the coverage gap has been closed for more than one tenth in a financial year, the closing of the coverage gap may not be limited to this extent in a later financial year. In the event of termination or consensual termination of a pension fund contract, the not yet closed coverage gap shall be deducted in the calculation of the assets to be transferred in accordance with section 17 (4) of the contract. "
21. § 20 (4), first sentence reads:
"The business plan as well as any change in the business plan shall be subject to confirmation by the test factual and the approval of the FMA, which may be provided with appropriate conditions and deadlines."
22. § 23 (1) Z 3 reads:
" 3. |
Securities are |
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a) |
with the relevant stock exchange rate or the relevant price in the recognised securities market; or |
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b) |
with the market value; if there is no liquider market for an asset, the market value may be that calculated on the basis of the market conditions; " |
22a. § 23 (1) Z 3a reads as follows:
" 3a. |
By way of derogation from Z 3, directly or through special funds according to § 1 para. 2 InvFG or comparable foreign special funds, in which the pension fund is the only unit-holder, |
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a) |
Debt securities issued by the Federal Government, a Federal State or any other State party to the Agreement on the European Economic Area (State Party), a member state of another Contracting State, or any other State Party to the Agreement on the European Economic Area (Contracting State) Full member state of the Organization for Economic Cooperation and Development (OECD) and securities for whose repayment and interest the federal government, a federal state, another Contracting State, a member state of another Contracting State or a State Party the other full member state of the OECD, |
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b) |
Debt securities issued by Zone A credit institutions (§ 2 Z 18 and 20 BWG) and securities for whose repayment and interest rate a credit institution of Zone A is liable, |
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with a fixed term, if they are intended to be kept until the final maturity on the basis of a separate dedication, with their continued acquisition costs or their continued daily value at the time of the dedication, using the effective interest rate method, if declared admissible in the business plan. For the securities directly or indirectly dedicated to special funds, a prudent liquidity plan shall indicate the ability to serve as a permanent facility, but a total of 60 vH of that of an investment and risk community shall be required. assigned assets. The Fund provisions of special funds shall contain provisions for the separate dedication of certain debt securities and on the current identification of a further calculation value, taking into account the special assessment. These fund regulations are to be submitted to the FMA in the case of dedication. It is only in the case of special circumstances and with the approval of the FMA that it is possible to have a security which is dedicated to the pension fund as a permanent facility. A sale of debt securities specifically devoted to special funds shall be permitted only upon return of shares by the pension fund, which may only be effected in case of special circumstances and with the approval of the FMA; " |
23. § 23 (1) Z 6 reads:
" 6. |
the value of apportionments in derivative products according to § 21 InvFG 1993 must be used with due care taking into account the underlying value and has been included in the valuation of the assets assigned to the investment and risk community " |
24. The following sentence shall be added to section 24 (2):
" In the event of a joint management of pension fund commitments with minimum pension guarantee and pension fund commitments without a minimum guarantee of a minimum order, the position of the fluctuation reserve in accordance with Z 1 lit is lit. (b) or (c) without prejudice to Z 2, to maintain the fluctuation reserve separately according to pension commitments with a minimum guarantee of income and pension commitments without a minimum guarantee of a guarantee. "
25. § 24 (4) reads:
"(4) The nominal value of the fluctuation reserve shall be defined by the Management Board and shall be indicated in the business plan, whereby it shall not be less than 10 vH and not more than 20 vH of the assets in accordance with paragraph 3 at the respective balance sheet date."
26. In § 24a (5) and (6) the value shall be "20 vH" by the value "25 vH" replaced.
27. § 24a (7) reads:
"(7) In the event of the application of the provisions of paragraphs 1 to 4, it shall be subject to a negative return on the fluctuation of the fluctuation, and the negative return shall be immediately dissoled."
28. The following paragraphs 8 and 9 are added to § 24a:
" (8) By way of derogation from paragraph 7, the FMA may, at the request of the pension fund in an investment and risk community, grant the formation of a negative fluctuation reserve up to a maximum of 5 vH of the associated assets. A financing plan shall be attached to the pension fund's request, which shall indicate how and in which period the negative fluctuation reserve may be re-dissolved. When the financing plan is drawn up, the risk structure, the structure of the assets and liabilities, and the structure of the financial institutions are in particular the basis of the accounts pursuant to § 20 (2) (3), a post-payment obligation of the employer pursuant to § 5 Z 3, the risk structure, the structure of the assets and liabilities. To take care and entitlement to benefit.
(9) The formation of a negative equalisation reserve in accordance with paragraph 8 is
1. |
for eligible persons without the employer's obligation to repay the employer in accordance with § 5 Z 3 and |
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2. |
In investment and risk communities in which pension commitments are managed from an activity pursuant to Section 11a (1) |
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not allowed. " |
29. § 25 reads:
" § 25. (1) The Board of Management of the Pension Fund shall ensure that the assessment of the assets assigned to an investment and risk community is carried out by persons who are technically suitable for this purpose and who, in particular in the fields of: Portfolio management, risk management as well as asset-liability management can demonstrate appropriate professional experience and that adequate technical resources are available for risk management. The assessment of the assets assigned to an investment and risk community shall be carried out in accordance with the general principle of precautionary principle and taking into account the other provisions of this Federal Law, and in particular: Please note the following:
1. |
The assets shall be subject to the greatest possible benefit of eligible persons and beneficiaries; |
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2. |
in the event of a possible conflict of interest, the investment decisions shall be based solely on the interests of the beneficiaries of the investment and of the beneficiaries; |
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3. |
the assets are to be held in such a way as to ensure the security, quality, liquidity and profitability of the assets allocated to an investment and risk community as a whole; |
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4. |
the assets are to be apported in a manner corresponding to the expected future pension benefits in the manner and duration of the scheme; |
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5. |
Securities and/or money market instruments must be given priority |
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a) |
are listed or traded on a regulated market pursuant to § 2 Z 37 BWG; or |
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b) |
traded on another recognised, regulated, open and properly functioning securities market of an EEA Member State, or |
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c) |
be officially listed on a third country stock exchange (§ 2 Z 8 BWG) or be traded on another recognised, regulated, open and properly functioning securities market in a third country; |
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Investments in assets which are not admitted to trading on regulated markets must be provided for in the Declaration on the Principles of Investment Policy and must in any case be kept at a cautious level; |
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6. |
Derivative products according to § 21 InvFG 1993, which have not been acquired to hedge price risks, may only be acquired if they are designed to reduce the risk of investment or to facilitate efficient administration of the The risk concentration in relation to a single counterparty or to other assets in derivative products shall be avoided; |
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7. |
the assets are to be scattered in an appropriate manner and a risk concentration should be avoided; |
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8. |
the acquisition of assets belonging to the same exhibitor or of exhibitors belonging to the same group shall not lead to an excessive concentration of risk. |
(2) The assets acquired in favour of an investment and risk community shall be assigned to the following assessment categories:
1. |
Credit for credit institutions and cash balances; |
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2. |
loans and loans; |
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3. |
Debt securities; |
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4. |
shares, equity-related negotiable securities, corporate bonds and other equity securities; |
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5. |
real estate; |
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6. |
other assets. |
(3) Investments in assets under subsection 2 (4) and (6) shall be limited jointly to a maximum of 70 vH of the assets assigned to the investment and risk community. By way of derogation, such assessments shall be carried out in an investment and risk community, in which pension commitments are managed by the employer in accordance with Article 2 (2) and (3) without the obligation to take over the obligation under Article 2 (2) and (3). a maximum of 50 vH of the assets allocated to the investment and risk community.
(4) Estimates in assets denominated in a currency other than that of liabilities shall be limited to a maximum of 30 vH of the assets allocated to the investment and risk community. If the currency risk is eliminated by means of hedging transactions, these apportionments may be assigned to the denominators denominated in euro.
(5) The return assessment of employers who make contributions to the investment and risk community is, with the exception of apportionments in debt securities issued by the Federal Government, a Federal State, another EEA Member State or a member state in another EEA Member State, with a maximum of 5 vH of the assets allocated to the investment and risk community.
(6) Presents in debt securities, shares and stock-like securities which are not admitted to trading on a regulated market shall be limited to a maximum of 30 vH of the assets assigned to the investment and risk community.
(7) Presents in assets of the same issuer, with the exception of apportionments in debt securities issued by the Federal Government, a Federal State, another EEA Member State or a member state of another EEA Member State, shall be provided with: limited no more than 5 vH of the assets allocated to the investment and risk community; investments in assets of exhibitors belonging to a single group of companies within the meaning of Article 20 (3a) of the InvFG shall not exceed 10% of the assets allocated to the investment and risk group. the assets allocated to the investment and risk community.
(8) Investments in shares of capital investment funds and real estate funds shall be apportioned according to the actual allocation to the investment categories set out in paragraph 2 (1) (1) to (6).
(9) The FMA has to lay down minimum standards for risk management by means of a Regulation; in the case of the adoption of this Regulation it has on the economic interest in a functioning pension scheme and on the interests of the To take care and entitlement to benefit. Minimum standards shall, in particular, be
1. |
risk management, |
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2. |
risk-spreading, |
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3. |
risk reduction, |
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4. |
asset-liability management, |
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5. |
the nature and content of the pension fund's proof that their risk management complies with these minimum standards; and |
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6. |
the time limit within which such proof is to be provided, |
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. The FMA may order that this proof must be provided at regular intervals. |
(10) The FMA has to lay down special provisions for the regulation by Regulation; in the case of the adoption of this Regulation it has on the economic interest in a functioning pension scheme and on the interests of the Anwartshank and to take account of those who are entitled to benefit. The special requirements for assessment may include:
1. |
with regard to risk-spreading and risk-reduction for |
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a) |
Assessment in accordance with paragraph 1 (1) (6) and (2) (6), respectively, of an upper limit within a range of 5 vH to 20 vH, |
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b) |
Assessment in accordance with paragraph 2 Z 5, an upper limit within a range of 10 vH to 30 vH |
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of the assets allocated to the investment and risk community; and |
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2. |
in the light of the risk-spreading and risk reduction for the predisposition as set out in paragraph 6, the detailed conditions for the acquisition are set. |
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As long as pension funds do not provide proof of compliance with the minimum standards referred to in paragraph 9, they have to apply the special predisposition requirements. |
(11) The FMA may, on a case-by-case basis, fix the assessment of the assets assigned to an investment and risk community, which are more stringent than the special requirements for the assessment, in so far as this is due to: the specific nature of the pension fund commitments administered by the relevant investment and risk community and the need to safeguard the interests of the eligible persons and the beneficiaries. "
30. In accordance with § 25, the following § 25a and title shall be inserted:
" Declaration on the principles of the investment policy
§ 25a. (1) The pension fund shall draw up a written declaration on the principles of the investment policy for each investment and risk community. In any case, this declaration
1. |
the assessment of the risk of assessment, |
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2. |
risk management, |
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3. |
strategies for the selection of assets, as well as the mix and dispersion of assets, depending on the nature and duration of the liabilities incurred; |
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4. |
the admissibility and the strategies of apportionment of derivative products, |
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5. |
the admissibility and strategies of investments in assets which are not admitted to trading on regulated markets and/or are traded in risk capital markets; and |
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6. |
the possible choice of assets according to ethnic, environmental and/or social criteria |
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shall be included. |
(2) The declaration on the principles of the investment policy must be updated immediately after a substantial change in the investment policy, but at least every three years.
(3) The declaration on the principles of the investment policy and any amendment shall be brought to the attention of the FMA without delay.
(4) The declaration on the principles of the investment policy shall be applied to the respective investment and risk community at the request of the employers, the beneficiaries and the competent works councils. without delay. '
31. § 26 para. 1 second sentence reads:
' Only a credit institution which is duly authorised to carry out such activities or is recognised as a depositary within the meaning of Directive 85 /611/EEC may be entrusted as a custodian bank. The pension fund shall submit to the FMA a statement of the credit institution or the depositary, together with the notification of the assignment, which shall take note of the rights and obligations of paragraph 2. "
32. The following paragraph 3 is added to § 26:
" (3) The competent authority of the home Member State of a body undergoes the free disposal of the assets, the FMA has, at the request of that authority, of the authority responsible for the custody of the assets of that body. national custodian bank in accordance with paragraph 1, to prohibit the free disposal of these assets. "
33. § 27 (2) reads:
" (2) In the Supervisory Board of occupational pension funds, the representatives of the members of the service and the persons entitled to benefit make a representative less than the representatives of the basic capital. In the event of a tied vote, unless the operating agreement and any agreements pursuant to the contract model determine otherwise, the Chairman of the Supervisory Board, whose election by the majority of the members of the Supervisory Board shall be elected, shall be the vote of the Chairman of the Supervisory Board. of all members of the Supervisory Board and of the majority of the representatives of the share capital, the rash. The operating agreement and any agreements according to the contract model under the SPS Act may provide for a higher participation of the representatives of the persons entitled to the contract. The number of members of the Supervisory Board shall be laid down in the Articles of Association. "
34. § 27 (6) reads:
" (6) In addition to the transactions regulated in § 95 para. 5 AktG, the following further transactions require the approval of the Supervisory Board:
1. |
The establishment of a branch in another Member State; |
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2. |
the formation of investment and risk communities in the pension fund; |
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3. |
Assessments in real estate; |
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4. |
the recovery plan in accordance with section 33b (2). |
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In addition, the Articles of Association may reserve the right to further business with the consent of the Supervisory Board. " |
35. The following sentence shall be added to section 30a (1):
" 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. "
36. § 30a (2) reads:
" (2) The accounting reports of the investment and risk communities as well as the audit report on the accounting reports of the investment and risk communities shall be immediately available to the members of the supervisory board of the pension fund. , The annual financial statements and the accountability report for the respective investment and risk community shall be immediately, at the request of the employers, the creditor and the person entitled to benefit, or the competent works councils. shall be transmitted. In addition, there are no obligations for disclosure or publication of the accountability reports. "
37. The following sentence is added to section 32 (3):
"It also has to report to the Chairman of the Supervisory Board on a quarterly basis on key audit findings on the basis of the audits carried out."
38. According to § 33 (3) (3) (3), the following Z 3a is inserted:
" 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 the interest of expediency, simplicity, convenience or cost savings; " |
39. According to § 33a, the following § § 33b to 33f shall be inserted together with the headings:
" Solvency and Sanation Plan
§ 33b. (1) If a pension fund does not have own funds in the extent necessary in accordance with Section 7, it shall have a plan to restore sound financial conditions to the FMA ("Solvency plan"). . If the FMA has justifiable reason to believe that a pension fund will no longer have the necessary funds in the foreseeable future in the extent required in accordance with Section 7, it shall require the pension fund to submit a solvency plan. The solvency plan shall specify the manner in which own resources are guaranteed to reach the necessary level or not to fall below it. The solvency plan shall be subject to the approval of the FMA. The authorisation shall be granted if the implementation of the plan is to be expected to restore sound financial conditions.
(2) If, due to a deterioration in the financial situation of the pension fund, the FMA has justifiable reason to believe that the pension fund's own resources are not likely to be guaranteed permanently, the FMA may require the presentation of a refurbelling plan. If the restructuring plan shows that there is a risk of insufficient funding, the FMA may require the provision of additional own resources. A recovery plan may also be required in addition to a solvency plan.
(3) In the recovery plan referred to in paragraph 2 above, the following shall in particular also be stated for the next three financial years:
1. |
the anticipated income and expenses of the pension fund, |
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2. |
the expected development of the administrative cost recovery plan, |
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3. |
the expected development of the minimum reserve reserve, |
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4. |
the expected obligations arising from the minimum payment pursuant to Article 2 (2) and (3), |
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5. |
the financial resources that are likely to be available to cover the commitments and the own resources requirement. |
(4) In order to ensure the fulfilment of the obligations arising out of the minimum payment, the FMA has to restrict or prohibit the free disposal of the pension fund assets if:
1. |
no adequate provision has been made for the obligations arising from the minimum contract; or |
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2. |
the conditions set out in the first sentence of paragraph 1 are met and, as a result of the exceptional circumstances, it is to be expected that the financial situation of the pension fund will continue to deteriorate. |
(5) In so far as the free disposal of assets pursuant to paragraph 4 has been restricted or prohibited, the pension fund can only have legal effect on the assets with the consent of the FMA. The consent shall be granted if the availability of the obligations arising from the minimum yield does not endanger the fulfilment of the obligations.
(6) In order to ensure the fulfilment of the current performance of the pension funds, the FMA has to restrict or prohibit the free disposal of the pension fund via the assets of an investment and risk community, if:
1. |
is not sufficient to cover all the pension commitments in this investment and risk community as a whole or |
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2. |
no adequate assets have been created to cover the cover provision of this investment and risk community. |
(7) Insofar as the free disposal of assets of an investment and risk community has been restricted or prohibited in accordance with paragraph 6, the pension fund may be legally effective only with respect to the assets of this investment and risk community. Approval of the FMA. The consent shall be granted if the availability of the obligations arising from the totality of the pension fund commitments administered in this investment and risk community is not jeopardised.
(8) The FMA has made decisions on the restriction or disregard of the free disposal of assets in the "Official Journal of the Wiener Zeitung" and on the Internet.
Supervision within the framework of freedom of service and establishment
§ 33c. (1) Last but not least, a body which provides its activities in Austria by means of the freedom to provide services or through a branch, the provisions referred to in Article 11b (4) or the provisions referred to above under the aforementioned rules Regulations and regulations, the FMA shall inform the competent authorities of the home Member State and request, in consultation with the FMA, take the appropriate measures to prevent the injuries found.
(2) In spite of the measures taken or to be implemented by the competent authorities of the home Member State, or because they have not taken appropriate measures, the institution shall continue to apply the provisions referred to in paragraph 1, the FMA shall: , with the simultaneous understanding of the competent authorities of the home Member State
1. |
to arrange for the re-establishment of the legitimate state within that period, which is appropriate for the performance of its tasks and in the interests of the persons entitled to benefit; |
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2. |
to prohibit, in whole or in part, the directors responsible for the branch of the institution, and/or |
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3. |
to prohibit business activities in Austria in the event of further infringements. |
(3) In the case of an urgent risk to the fulfilment of the obligations of the institution referred to in paragraph 1 above with respect to the rights and beneficiaries, in particular for the security of the assets entrusted to it, the FMA may devote the Danger of temporary measures pursuant to paragraph 2 (2) (1) and (2) by communication with the simultaneous information of the competent authorities of the home Member State, which shall not enter into force at the latest 18 months after the date of the effective date of the effective date.
(4) If authorisation is withdrawn from the establishment, it shall immediately prohibit the establishment of new business activities by the FMA. § 10 (2) and (3) shall apply.
(5) The competent authorities of the home Member State may, after prior notification to the FMA itself or through its agents, carry out the necessary checks for the supervision of the branch in the sense of Art. 13 lit. (d) and Article 14 of Directive 2003 /41/EC at the branch office. At the request of the competent authorities of the home Member State, the FMA may also carry out such checks even in accordance with one of the procedures referred to in Article 33 (3) (1) to (3).
§ 33d. In spite of a request by the competent authorities of the Member State of activity, a pension fund which provides its activities in a Member State by a branch or by means of the freedom to provide services shall be infringed by the law of the Member State of activity. The FMA, after understanding by the competent authorities of the host Member State, has to implement appropriate measures in accordance with Section 33 (6) in order to comply with the laws of the Member State of activity of the host Member State. State in the Member State of activity. The competent authorities of the Member State of activity shall be informed immediately in writing of the measures taken.
Deliveries
§ 33e. In the case of the service of documents of the competent authorities of a Member State of activity which contain calls within the meaning of section 33d, the addressee may refuse to accept the acceptance in accordance with Section 12 (2) of the Delivery Act only if these documents do not have been drafted in the official language of a Member State.
Cooperation with supervisory authorities in the Member States
§ 33f. (1) The FMA is entitled to provide information on the pension funds subject to its supervision to the authorities of the other Member States responsible for the supervision of pension funds or bodies, at the request of the pension funds or bodies responsible for the supervision of pension funds or bodies. and to provide the documents which they require to carry out their duties and which concern the following:
1. |
Concessions, branches and the exercise of the freedom to provide services; |
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2. |
shareholders, members of the Executive Board and the Supervisory Board of the Pension Fund; |
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3. |
the business plan approved by the FMA with regard to the investment and risk communities in which pension commitments are managed from the Member State concerned; |
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4. |
the own resources requirement and own resources of the pension fund; |
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5. |
the annual accounts of the pension fund and the accounting reports of the investment and risk communities in which pension commitments are administered from the Member State concerned; |
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6. |
Perceptions and measures on the basis of the monitoring of the business operations in accordance with § § 33 and 33a; |
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7. |
Criminal proceedings pursuant to § 46a (1). |
(2) The FMA may at any time obtain information on the activities of pension funds in Member States and the situation of institutions operating in Austria if this is in the economic interest in the functioning of the pension funds or in the interest of the eligible persons and beneficiaries.
(3) If the concession is withdrawn from a pension fund, the FMA shall immediately inform the competent authorities of the Member States in which it carries out its activities in writing.
(4) The Federal Minister of Finance may, if he is authorised to do so pursuant to Article 66 (2) B-VG, on a proposal from the FMA within the framework of paragraph 1 as well as § § 11a, 11b, 33c and 33d agreements with competent supervisory authorities in other Member States via the Close cooperation with the FMA to monitor and supervise the institutions and pension funds. "
40. § 36 (1) (8) and (9) are:
" 8. |
any formation of a separate investment and risk community in accordance with Article 12 (2) and any closure of an investment and risk community; |
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9. |
any termination or consensual termination of a pension fund contract in accordance with section 17 (1) as well as any change of the pension fund in accordance with section 17 (3); " |
41. § 36 (2) reads:
" (2) Within three weeks after the dates 31 March, 30 June, 30 September and 31 December of the FMA, the pension funds shall have the FMA quarterly statements with which compliance with § § 25 and 25a as well as the actual presence of at least 90 vH of the of assets belonging to an investment and risk community, in each case on these dates, in accordance with the classification provided for in the Regulation referred to in paragraph 4, on electronic media in a standardised form "
42. The following paragraph 4 is added to § 36:
"(4) The FMA shall fix the breakdown of the quarterly statements by Regulation; in the case of the release of this Regulation it shall take care to take account of the economic interest in a functioning pension system."
43. The following sentence shall be added to section 43 (1):
"The term" establishment "or" establishment of occupational retirement provision " or word links which contain this name may only be used by institutions or pension funds in the company's word, in commercial transactions and in advertising. shall be used. "
44. In § 43 (2), after the word "Pensionskasse" the phrase "or establishment" inserted.
45. § 46 (3) deleted.
46. § 46a (1) reads:
" (1) Those who are responsible (§ 9 VStG) of a pension fund
1. |
the indication of the intended activity in the territory of another Member State shall not be displayed in accordance with Article 11a (2) and (3); |
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2. |
the indication in accordance with Section 11a (5) of the amendment of the terms and conditions of the information pursuant to § 11a (2) and (3) is not |
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3. |
not to comply with the request for information of a person entitled to a service or benefit pursuant to § 19 (2), even after a reminder; |
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4. |
does not comply with the obligation to provide information pursuant to Article 19 (3), (4) and (5); |
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5. |
the indication of the intended purchase order of the test factuary in accordance with section 21 (3) is not allowed; |
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6. |
the proof in accordance with § 25 (9), that the risk management complies with the minimum standards, the FMA does not submit in due time; |
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7. |
the obligation to make a reference pursuant to Section 25a (3) does not comply immediately; |
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8. |
not to comply with the request for information from a contributing employer, an employee or a person entitled to benefit, or a competent works council pursuant to Section 25a (4), even after a reminder; |
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9. |
does not comply with the obligations laid down in Article 30a (1) in due time; |
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10. |
not to comply with the request for information from a contributing employer, an employee or a person entitled to benefit, or a competent works council pursuant to § 30a (2), even after a reminder has been made; |
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11. |
the notification of the appointment of the auditor in accordance with section 31 (2) shall be subverted; |
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12. |
the prompt display of the facts referred to in § 36 (1) Z 11 to the FMA shall not be displayed; |
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13. |
the obligation to make a prior obligation pursuant to section 36 (2) does not comply with the deadline; |
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14. |
the violation of the limits laid down in Section 23 (1) (3a); |
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15. |
shall be contrary to the predisposition requirements of Section 25; or |
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16. |
carry out pension fund transactions which do not correspond to the approved business plan; |
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if the offence does not constitute the offence of a criminal offence within the jurisdiction of the courts, an administrative surrender and is a fine of up to EUR 2 000 in respect of the FMA with regard to Z 1 to 13, with regard to the Z 14 and 15 with a fine of up to EUR 10 000 and a fine of up to EUR 20 000 with regard to Z 16. " |
47. In Section 46a (5), the phrase "pursuant to § 18 (2)" through the phrase "pursuant to § 19 (2)" replaced.
48. § 47 reads:
" § 47. A person who establishes or operates a pension fund without the necessary authorization for this purpose, unless the act constitutes the offence of a criminal act falling within the jurisdiction of the courts, shall be subject to an administrative surrender and shall be subject to: to punish the FMA with a fine of up to 35 000 euros. "
49. According to § 47, the following § 47a is inserted:
" § 47a. In the case of administrative transgressions in accordance with § § 46, 46a and 47, a limitation period of 18 months shall be applied instead of the limitation period of § 31 para. 2 VStG of six months. "
50. The following Z 14 to 19 shall be added to § 49:
" 14. |
In accordance with § 2 (1): |
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The exclusion of the minimum order for five-year periods (§ 2 para. 2), which is prior to the 1. January 2005 ends, is not allowed. |
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15. |
On § 7: |
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The reference value for the minimum earnings reserve at the balance sheet date 31 December 2005 is the total value of the cover provision of all investment and risk communities at the balance sheet date of 31 December 2004 less those parts of the balance sheet date of 31 December 2005. Cover reserve, for which the effectiveness of the 1. January 2005 the guarantee of the minimum order by the pension fund was waived. |
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In the pension fund contract, the guarantee of the minimum order by the pension fund with effect from 1. Jänner 2005 excluded (Section 2 (1)) and this adaptation of the contract by 30 November 2005 at the latest, is a balance sheet of the pension fund as at 31 December 2004 and is not used for the obligations arising from the minimum contract To dissolve the minimum yield reserve to the extent to which the minimum reserve reserve was formed in relation to this pension fund contract. The minimum reserves resolved are to be credited to the creditress and benefit and to the employers in so far as they contributed to their education. If the waiver of the balance sheet for the financial year 2004 is waiver and the doping of the reserve reserve for the financial year 2004 will not be used for the fulfilment of minimum contract obligations for those affected by the waiver. For the non-waiving period until 31 December 2004, eligible persons and beneficiaries are required to do so, so that the minimum reserve requirement in these cases for the financial year 2004 can be omitted. |
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Section 7 (6) in conjunction with Section 20 (2) Z 7 in the version of the Federal Law BGBl (Federal Law Gazette). I n ° 97/2003 can be used for the last time in the balance sheet on the date of 31 December 2005. If, as of December 31, 2005, a "difference amount according to § 7 paragraph 6 PKG" is shown in the balance sheet of the pension fund, this amount shall be resolved until 31 December 2009 at the latest. |
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16. |
For the removal of a phrase in § 20 sec. 2 Z 3: |
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For pension fund contracts concluded before 23 September 2005 and which do not comply with § 16a, the provisions of the business plan in the prior to the 23 are to be adjusted in respect of administrative costs if they are not adapted to § 16a. The text was last approved by the FMA in September 2005. |
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17. |
On § 24a (7): |
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If, as at 31 December 2004, a negative fluctuation reserve is shown in the account report of an investment and risk community, it shall be resolved within a maximum of ten years and at least one tenth of each year; early Resolutions are allowed. |
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Where pension fund business is managed from a cross-border membership in an investment and risk community, the negative fluctuation reserve formed in relation to this investment and risk community shall be immediately dissolves. |
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FMA may stipulate by regulation that the resolution of the negative fluctuation reserve in a financial year may be maintained if: |
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a) |
the profit situation on the capital markets differs significantly from the average of the previous years; and |
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b) |
at least part of the persons entitled to benefit in this financial year are affected by low or negative earnings before the negative fluctuation of performance reductions is resolved. |
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18. |
On § 25 (9) and (10): |
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Until regulations pursuant to Section 25 (9) and (10) are released by the FMA, but at the latest by 30 September 2006, the pension funds have the following additional assets for the assessment of the assets assigned to an investment and risk community. Assessment requirements to be complied with: |
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a) |
Assessment in accordance with Section 25 (1) Z 6 shall be limited to a total of 10 vH of the assets allocated to the investment and risk community; |
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b) |
Assessment pursuant to Section 25 (2) Z 5 shall be limited to a total of 20 vH of the assets allocated to the investment and risk community. |
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c) |
Assessment pursuant to Section 25 (2) (6) (6) shall be limited to a total of 10 vH of the assets allocated to the investment and risk community; |
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d) |
Investments in securities relating to option rights are limited by a total of no more than 3 vH of the assets allocated to the investment and risk community; |
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e) |
For investment and risk communities in which pension commitments are administered with a minimum income guarantee, apportionments pursuant to section 25 (3) with a total of no more than 50 vH of the assets assigned to the investment and risk community limited. |
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19. |
On § 36 (2) and (4): |
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For the first time on 31 December 2005, the quarterly statements must comply with the structure laid down by the FMA regulation. " |
51. In accordance with § 49, the following § § 49a and 49b shall be inserted together with the headings:
" Linguistic equality
§ 49a. Insofar as personal names are only mentioned in male form in this federal law, they refer to women and men in the same way. The gender-specific form is to be used in the application to certain persons.
References and Regulations
§ 49b. (1) Where reference is made in this Federal Act to other federal laws, if nothing else is arranged, these are to be applied in their respectively applicable version.
(2) Regulations on the basis of this Federal Act may already be issued by the day following its customer's presentation. "
52. § 50 Z 3 reads:
" 3. |
as regards Section 11b (4) and Section 27 (4) of the Federal Minister of Finance, in agreement with the Federal Minister for Economic Affairs and Labour; " |
53. § 51 (1a) to (1r) are given the name "(2)" to "(19)" and Section 51, the following paragraphs 20 to 23 shall be added:
" (20) § 2 para. 1, § 5 Z 3, § 7 para. 1 to 8, § 24 para. 2, § 24a para. 5 to 9, § 49 Z 14, 15 and 17, the Pos. Article 1 of Annex 1 to Article I, Section 30 of the A-Balance Sheet of the Pensionskasse, Passiva and the Pos. I. of Appendix 2 to Article I, Section 30 Form A-Asset creation of an investment and risk community, Passiva in the version of the Federal Law BGBl. I n ° 8/2005 are to be applied for the first time on financial years beginning after 31 December 2004.
(21) § 1 (1) (1) (1) and (2), § 5 (4) to (6), § 7 (9), § 9 (5), § 11a including the title, § 11b including the title, § 15 (1), (2) and (3) Z 7 to 9 and 14, § 16a including the title, § 17 (1) to (3), § 18, § 19, § 20 (2) Z 7, para. 3, 3a, 3b and 4, § 23 (1) § 24 (4), § 26 (1) and (3), § 27 (2) and (6), § 30a (1) and (2), § 32 (3), § 33b, together with the title, § 33d, § 33e, § 33e, including the title, § 36 (1) (8) and (9), para. Articles 2 and 4, § 43 (1) and (2), § 46a (1) and (5), § 47, § 47a, § 49 Z 16, 18 and 19, § 49a together with the title, § 49b together with the heading, § 50 Z 3, the Pos. E. Appendix 1 to Article I, Section 30 of the A-Balance Sheet of the Pensionskasse, Assets, Appendix 2 to Article I, Section 30 Form A-Asset creation of an investment and risk community, assets and the Pos. IIa. Appendix 2 to Article I, Section 30 Form A-Asset creation of an investment and risk community and the Pos. B. IIa. and C. VIa. of Appendix 2 to Article I, § 30 Form B-The income statement of an investment and risk community in the version of the Federal Law BGBl. I n ° 8/2005 will enter into force on 23 September 2005.
(22) The phrase in Section 20 (2) Z 3, § 46 (3) and the Pos. A. II. Annex 2 to Article I, Section 30 Form B-The income statement of an investment and risk community shall expire at the end of 22 September 2005.
(23) The BGBl quarterly notification regulation. II No 75/1997 in the BGBl version. II No 444/1998 shall expire on the expiry of 30 December 2005. '
54. The Pos. E. Annex 1 to Article I, Section 30 of the A-Balance Sheet of the Pensionskasse, Assets is:
E. Activa of the investment and risk communities |
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I. |
Credit balances and cash balances denominating Euro |
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II. |
Credit balances and cash balances on foreign currency |
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III. |
Loans and loans in euro |
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IV. |
Loans and loans denominating in foreign currency |
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V. |
Debt securities denominating euro denominating |
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VI. |
Debt securities denominated in foreign currencies |
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VII. |
Shares, equity-related negotiable securities, corporate bonds and other equity securities denominations denominate in euro |
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VIII. |
Shares, stock-related negotiable securities, corporate bonds and other equity securities denominated in foreign currencies |
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IX. |
Real estate in Germany |
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X. |
Real estate abroad |
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XI. |
other assets denominating in euro |
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XII. |
other assets denominated in foreign currencies |
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XIII. |
Requirements |
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XIV. |
Active Billing Limits |
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XV. |
Other assets " |
55. The Pos. Article 1 of Annex 1 to Article I, Section 30 of the A-Balance Sheet of the Pensionskasse, Passiva reads as follows:
" I. |
Cover return |
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1. |
Cover return with minimum order guarantee |
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- |
Share of the cover provision with unrestricted accountability of the employer and acceptance of the obligation in accordance with. Section 2 (2) and (3) |
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2. |
Cover return without guarantee of minimum order |
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- |
Share of cover provision with unrestricted accountability of the employer " |
56. Annex 2 to Article I, Section 30 of the Form A-Asset creation of an investment and risk community, assets, reads:
I. Credits and cash balances denominating euro |
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1. |
Cash |
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2. |
Credit for credit institutions |
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3. |
Equity securities of investment funds or real estate funds |
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II. Credit balances and cash balances on foreign currency |
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1. |
Cash |
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2. |
Credit for credit institutions |
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3. |
Equity securities of investment funds or real estate funds |
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III. Loans and loans in euro denominating |
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1. |
Loans and loans with the responsibility of a Member State |
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2. |
Loans and loans with the liability of a credit institution |
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3. |
other loans and loans |
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IV. Loans and loans denominating in foreign currency |
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1. |
Loans and loans with the responsibility of a Member State |
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2. |
Loans and loans with the liability of a credit institution |
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3. |
other loans and loans |
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V. Debt securities denominating euro denominating |
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1. |
in markets according to § 25 (1) Z 5 lit. a to c traded receivables securities |
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2. |
Debt securities traded on unregulated markets |
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3. |
Receivables securities held to maturity |
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4. |
Shareholes of capital investment funds |
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VI. Debt securities denominated in foreign currencies |
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1. |
in markets according to § 25 (1) Z 5 lit. a to c traded receivables securities |
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2. |
Debt securities traded on unregulated markets |
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3. |
Receivables securities held to maturity |
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4. |
Shareholes of capital investment funds |
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VII. Shares, stock-related negotiable securities, coporate bonds and other equity securities denominating euro |
||||||||||
1. |
Shares |
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a) |
in markets according to § 25 (1) Z 5 lit. a to c traded |
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b) |
traded on unregulated markets |
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2. |
acti-like negotiable securities |
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a) |
in markets according to § 25 (1) Z 5 lit. a to c traded |
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b) |
traded on unregulated markets |
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3. |
corporate bonds |
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a) |
in markets according to § 25 (1) Z 5 lit. a to c traded |
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b) |
traded on unregulated markets |
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4. |
other investment securities |
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a) |
in markets according to § 25 (1) Z 5 lit. a to c traded |
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b) |
traded on unregulated markets |
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5. |
Shareholes of capital investment funds |
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VIII. Shares, stock-related negotiable securities, corporate bonds and other equity securities denominated in foreign currencies |
||||||||||
1. |
Shares |
|||||||||
a) |
in markets according to § 25 (1) Z 5 lit. a to c traded |
|||||||||
b) |
traded on unregulated markets |
|||||||||
2. |
acti-like negotiable securities |
|||||||||
a) |
in markets according to § 25 (1) Z 5 lit. a to c traded |
|||||||||
b) |
traded on unregulated markets |
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3. |
corporate bonds |
|||||||||
a) |
in markets according to § 25 (1) Z 5 lit. a to c traded |
|||||||||
b) |
traded on unregulated markets |
|||||||||
4. |
other investment securities |
|||||||||
a) |
in markets according to § 25 (1) Z 5 lit. a to c traded |
|||||||||
b) |
traded on unregulated markets |
|||||||||
5. |
Shareholes of capital investment funds |
|||||||||
IX. Real estate in Germany |
||||||||||
1. |
Land and buildings |
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2. |
Real estate fund shares |
|||||||||
3. |
Shares or shares of capital companies |
|||||||||
X. Real estate abroad |
||||||||||
1. |
Land and buildings |
|||||||||
2. |
Real estate fund shares |
|||||||||
3. |
Shares or shares of capital companies |
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XI. Other assets denominating euro |
||||||||||
1. |
in markets according to § 25 (1) Z 5 lit. a to c assets traded |
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2. |
assets traded on unregulated markets |
|||||||||
3. |
Shareholes of capital investment funds |
|||||||||
XII. Other assets denominated in foreign currencies |
||||||||||
1. |
in markets according to § 25 (1) Z 5 lit. a to c assets traded |
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2. |
assets traded on unregulated markets |
|||||||||
3. |
Shareholes of capital investment funds |
|||||||||
XIII. Requirements |
||||||||||
1. |
for outstanding contributions |
|||||||||
a) |
ongoing contributions |
|||||||||
b) |
Contributions from a transfer according to § 48 |
|||||||||
2. |
for interest |
|||||||||
a) |
borderline interest |
|||||||||
b) |
Interest receivable from a transfer in accordance with § 48 |
|||||||||
3. |
in relation to a different investment and risk community |
|||||||||
4. |
to Pensionskasse AG |
|||||||||
5. |
other |
|||||||||
XIV. Active Billing Limits |
||||||||||
XV. Other assets |
57. The Pos. I. in Appendix 2 to Article I, Section 30 of Form A-Asset creation of an investment and risk community, Passiva, reads:
I. Cover-back |
||||||||||
1. |
with minimum yield guarantee |
|||||||||
a) |
For Anwartschaften |
|||||||||
aa) |
Employer's share without taking over the obligation pursuant to Article 2 (2) and (3) |
|||||||||
bb) |
Employer's share with unrestricted accountability and acceptance of the obligation pursuant to § 2 para. 2 and 3 |
|||||||||
cc) |
Employee share without taking over the obligation pursuant to § 2 (2) and (3) by the employer |
|||||||||
dd) |
Employee share with unrestricted accountability of the employer and acceptance of the obligation pursuant to § 2 para. 2 and 3 by the employer |
|||||||||
b) |
for current services |
|||||||||
aa) |
Employer's share without taking over the obligation pursuant to Article 2 (2) and (3) |
|||||||||
bb) |
Employer's share with unrestricted accountability and acceptance of the obligation pursuant to § 2 para. 2 and 3 |
|||||||||
cc) |
Employee share without taking over the obligation pursuant to § 2 (2) and (3) by the employer |
|||||||||
dd) |
Employee share with unrestricted accountability of the employer and acceptance of the obligation pursuant to § 2 para. 2 and 3 by the employer |
|||||||||
2. |
without minimum guarantee |
|||||||||
a) |
For Anwartschaften |
|||||||||
aa) |
Employer's share without unrestricted obligation to follow up |
|||||||||
bb) |
Employers ' share with unrestricted readyback obligation |
|||||||||
cc) |
Proportion of employees without an unrestricted obligation to follow up the employer |
|||||||||
dd) |
Employee share with unrestricted employer's obligation to provide employees with an unrestricted obligation |
|||||||||
b) |
for current services |
|||||||||
aa) |
Employer's share without unrestricted obligation to follow up |
|||||||||
bb) |
Employers ' share with unrestricted readyback obligation |
|||||||||
cc) |
Proportion of employees without an unrestricted obligation to follow up the employer |
|||||||||
dd) |
Employee share with unrestricted accountability of the employer " |
58. In Appendix 2 to Article I, Section 30 Form A-Asset creation of an investment and risk community, Passiva, shall be post-Pos. II the following pos. IIa inserted:
IIa. Fluctuation reserve in accordance with § 49 Z17 |
59. In Appendix 2 to Article I, § 30 Form B-The income statement of an investment and risk community, the Pos shall not be required. A. II. and to Pos. B. II. the following pos. B. IIa inserted:
" IIa. Subsidies from pension fund assets to compensate for the reduction of income from the investment (§ 2 para. 2 and 3 PKG) " |
60. In Appendix 2 to Article I, § 30 Form B-the income statement of an investment and risk community, the Pos shall be responsible for the application of the provisions of the Annex. C. VI. the following pos. C. VIa inserted:
" VIa. Dissolution of a negative fluctuation reserve according to § 49 Z 17 PKG " |
Article 3
Amendment of the Insurance Supervision Act
The Insurance Supervision Act, BGBl. No 569/1978, as last amended by the Federal Law BGBl. N ° 161/2004, shall be amended as follows:
1. In Section 1a (1), after the phrase "§ § 18a, 18b and 18c," the phrase "§ § 18f to 18i," inserted.
2. According to § 18e, the following § § 18f to 18j together with headline are inserted:
" b e t r i c o l i c o l i c o l i c o l i c i c o l i c t i c o l i c t i c o l i c t i c o n t i c
§ 18f. (1) An occupational collective insurance is a group pension insurance which satisfies the following conditions:
1. |
The insurance contract shall be made by an employer for his employees on the basis of an operating agreement, collective agreement or agreements between the employer and the individual employees, which shall be based on: Contractual patterns, taking into account § 18 BPG, are to be designed in the respectively applicable version. |
|||||||||
2. |
The insurance contract only grants an old-age pension and a survivor's pension; in addition, an invalidity pension can be granted. Old-age pensions are lifelong, invalidity pensions are to be paid on the duration of invalidity and survivors ' pensions in accordance with the insurance contract. A capital settlement is only permissible if the cash value of the payout amount does not exceed the amount in accordance with Section 1 (2) and (2a) of the PCG in the current version if the performance case is entered. |
|||||||||
3. |
The final costs will be distributed evenly over the entire premium payment period. |
|||||||||
4. |
Surpluses benefiting policyholders in the case of insurance contracts with profit-sharing shall be subject to cover at the latest by the end of the financial year following the financial year in which the surpluses have been incurred. individual policyholders. |
(2) In-company collective insurance may not be operated as fund-linked or index-linked life insurance.
§ 18g. (1) The employer and the insured persons shall notify the insurance undertaking in writing of all the circumstances relevant to the calculation of premiums and insurance benefits and the modification thereof. If the communication does not take place or does not take place in a timely manner, then they have to bear any disadvantages themselves. Details must be laid down in the insurance contract.
(2) The insurance undertaking shall have an account for each insured person, broken down by the employer and the employee's premiums.
(3) The employer shall inform the insured persons of the conclusion of the insurance contract and, insofar as they are concerned, of any subsequent amendment of this contract. The insurance undertaking and the employer shall, at any time, give information to the insured person at their request concerning the content of the insurance contract.
(4) The insurance undertaking has in writing in writing, as at 31 December of the previous financial year, the right to be paid annually by the employer and by the employer and the employee in writing. Premiums and the development of the cover reserve during this financial year and their status at the end of this financial year. This information shall also contain a forecast of the estimated level of supply services. In addition, the insurance company has the right to apply for the investment and value development of the cover stock in accordance with section 20 (2) (1a) of the insurance contract as well as to all others for the fulfilment of the obligations under the insurance contract. to inform the relevant data.
(5) The insurance undertaking shall in writing, as at 31 December of the previous financial year, give the persons entitled to benefit in writing in writing, in an appropriate form, on the development of the cover provision during this financial year and the Information to be informed at the end of this financial year. In addition, the insurance company has the persons entitled to benefit over the investment and value development of the cover stock in accordance with section 20 (2) (1a) 1a as well as all others for the fulfilment of the obligations arising from the insurance contract to inform the relevant data. In addition, the persons entitled to benefit shall be informed of any changes in the pension benefits.
(6) The insurance undertaking shall have in writing each person entitled to benefit upon the receipt of the benefit on the basis of the acquired right to age, survivors ' or invalidity benefit, as well as the payment methods of the pension in writing. information.
(7) The FMA may lay down the minimum content and the structure of the information referred to in paragraphs 4 to 6 by regulation if it is necessary in the interests of insured persons and of better comparability and transparency.
(8) In accordance with existing technical possibilities, a secure electronic access to this information may also be provided in place of the written information referred to in paragraphs 3 to 6, in accordance with the agreement of the insured person. Insurance undertakings are made possible.
§ 18h. (1) A termination of the insurance contract by the employer or by the insurance undertaking or a consensual termination of the insurance contract is only admissible and legally effective if a transfer of the insurance contract pursuant to para. 3 to Assets to be transferred to an operating collective insurance of another insurance company entitled to operate domestily, a pension fund or a facility within the meaning of § 5 Z 4 of the PKG in the current version is ensured. The termination may be legally binding only for all insured persons unless stated in the operating agreement, in the collective agreement or in the agreements according to the contractual model, that in the event of termination of the insurance contract all Pensioners remain in company collective insurance.
(2) The time limit for the dismissal of the insurance contract by the employer or the insurance undertaking is one year. The cancellation may only be made with effect on the balance sheet date of the insurance company. The consensual termination of the insurance contract shall be effective at the earliest on the balance sheet date of the insurance undertaking which is at least six months after the agreement of the consensual termination of the insurance contract.
(3) The value of the assets to be transferred in the event of termination shall be equal to the cover provision which is covered by the insurance contract.
§ 18i. (1) The transfer of entitlements and performance obligations arising from direct performance commitments or from claims under the Law of Bezügegesetz, BGBl. No. 273/1972, in the version of the Federal Law BGBl. I n ° 64/1997, in a collective insurance scheme, the following conditions are permissible:
1. |
The transfer of the cover requirement plus interest on the insurance undertaking shall take place within a period of not more than ten years from the date of the transfer. |
|||||||||
2. |
The transfer of the cover requirement plus the invoice interest shall be made annually at least one tenth each; early credit transfers shall be permitted. |
|||||||||
3. |
The employer's accepted obligation to transfer the cover requirement in installment remains through |
|||||||||
a) |
the entry of the benefit, |
|||||||||
b) |
the withdrawal of the claim, or |
|||||||||
c) |
the termination of the employment relationship during the transmission period |
|||||||||
unaffected. |
||||||||||
In the case of a severance (§ 18f paragraph 1 Z 2 of this Federal Act, § 6c (4) of the BPG in the respectively applicable version or § 5 (2) AVRAG in the respectively applicable version) or a transfer (Section 6c (2) Z 1 to 4 BPG in the respective version in force) At the latest at the time of departure or transfer, the employer has to transfer the relevant part of the cover requirement to the insurance undertaking prematurely at the latest at the time of the severance or transfer. |
(2) If the employer does not comply with his obligation to transfer the cover requirement in accordance with paragraph 1, because the conditions are fulfilled
1. |
§ 6d Abs.1 Z 2 BPG, as amended, or |
|||||||||
2. |
exist for the opening of the bankruptcy (§ § 66 and 67 KO in the respective version in force), |
|||||||||
the insurance undertaking has to adapt the relevant conditions and the obligations under which it is to be carried out. The employer must credibly make the conditions of § 6d Abs.1 Z 2 BPG in the current version available to the insurance company in relation to the insurance company. The adjustment of the transfer of the cover requirement by the employer shall also require the employer to revoke his current premium payments to the insurance undertaking. |
(3) If the employer does not comply with his obligation to transfer the cover requirement on the basis of the entry of one of the conditions set out in Section 2 (2) (1) or (2), the remaining part of the cover requirement shall be incurred a claim from a direct benefit commitment of the employer. The calculation of the claim shall be made in accordance with the accounting principles used by the insurance undertaking for the collective insurance scheme in the workplace. Section 3 of the BPG is to be applied to the employer in accordance with the applicable version. The other terms and conditions of this direct benefit assessment shall be based on the agreements between the employer and the insured persons on which the insurance contract is based.
(4) The amount of infestation on which the insured person is entitled to the employer in accordance with the following provisions shall be calculated from the claim provided for in paragraph 3 above:
1. |
The amount of the inconspicuity shall be equal to the present value of the claims arising from the claim referred to in paragraph 3 above; |
|||||||||
2. |
For the calculation of the inconspicuity amount, the rate of charge used in the collective insurance scheme shall be based on the basis of the invoice. |
|||||||||
3. |
The risk of invalidity shall not be taken into account in the calculation of the amount of incongestibility. |
|||||||||
4. |
The inconspicuity amount shall be limited to the amount of the outstanding part of the cover requirement. |
(5) If the amount of infertility calculated in accordance with the provisions of Section 7 (3) (3) (1) of the BPG in the respective valid version for the direct benefit commitment pursuant to paragraph 3 is the amount of indisputable amount calculated in accordance with paragraph 4, the amount of the incalculable amount shall be discounted by the amount of the indisputable amount. This higher value shall be deemed to be higher than the rate of invoice (Section 14 (7) (6) of the EStG 1988), which is in force in the current version.
(6) In the case of a transfer as referred to in paragraph 1, employees ' contributions may also be transferred, where:
1. |
the worker may require this transfer only prior to the transfer referred to in paragraph 1; and |
|||||||||
2. |
the transfer of the employees ' contributions at the time of the transfer referred to in paragraph 1 is to be made entirely. |
(7) By way of derogation from § 18f (1) (1) (2), the granting of a right to benefit from a direct benefit commitment without survivor's provision pursuant to paragraph 1, which was granted before 1 July 1990, shall be subject to the granting of a Survivor's pension is not required by the insurance company. However, this applies only to those insured persons to whom this benefit has already been promised before 1 July 1990 and to those direct commitments which have not been subject to substantial changes since 1 July 1990 and in the course of the transfer. . After the transfer has been completed, such commitments may only be changed if they comply with § 18f (1) Z 2. For the transfer of the cover requirement, paragraphs 1 to 5 shall apply.
§ 18j. (1) A Advisory Committee shall be set up for the operation of the collective insurance scheme.
(2) The Advisory Committee shall have the right to:
1. |
To submit proposals for the investment policy, |
|||||||||
2. |
require the Management Board and the Supervisory Board to provide information on the operation of the company's collective insurance, |
|||||||||
3. |
to send representatives to the General Meeting (the assembly of the supreme body) who are entitled to ask questions about the operation of the company's collective insurance policy, |
|||||||||
4. |
To demand the inclusion of items of the company's collective insurance in the agenda of the Supervisory Board and to send a representative to the Supervisory Board, who shall participate in advising these items on the agenda without voting rights. |
(3) The Advisory Committee shall consist of four members, two of which shall be appointed by the Board of Directors or the Managing Directors of the insurance undertaking, and one each shall be represented by a collective contractual voluntary interest representation of the insurance undertaking. employees and from a legal representation of the interests of employees.
(4) The Advisory Committee shall draw up its own rules of procedure and shall elect a chairman and a deputy from among its members. It decides by a simple majority of votes. In the event of a tie, the Chairman's vote shall indicate the rash. "
3. In Article 20 (2), the following Z 1a shall be inserted after Z 1:
" 1a. |
for Occupational Collective Insurance (§ 18f), " |
4. The heading of § 107b reads:
" e r o n a t i o n a t i o n a t i o n a t i o n t i o n t i o n t i c o n t i o n t i o n t i o n t i o n t i o n t i o n t i o n t i o n t
5. The following paragraph 3 is added to § 107b:
" (3) Who
1. |
not to comply with the request for information provided by an insured person pursuant to Article 18g (3), even after a reminder has been made, |
|||||||||
2. |
shall not comply with the information requirements laid down in Article 18g (4), (5) and (6), |
|||||||||
provided that the act does not constitute the offence of a criminal offence within the jurisdiction of the courts, an administrative surrender and shall be punished by the FMA with a fine of up to EUR 2 000. " |
6. The following paragraphs 3 and 4 are added to § 119i:
" (3) § 1a (1), § § 18f bis 18j, § 20 sec. 2 and § 107b in the version of the Federal Law BGBl. I n ° 8/2005 will enter into force on 23 September 2005.
(4) Regulations on the basis of the provisions referred to in paragraph 6 may already be made by the Federal Law Gazette BGBl. I n ° 8/2005 will be adopted, but will enter into force on 23 September 2005 at the earliest. '
Article 4
Amendment of the Income Tax Act 1988
The Income Tax Act 1988, BGBl. No. 400, as last amended by the Federal Law BGBl. I No 180/2004, shall be amended as follows:
1. § 4 (4) Z 2 is amended as follows:
a) In the lit. a is the first sentence:
" Contractual pension contributions within the meaning of the Pensionskassengesetz (Pensionskassengesetz), premiums for company collective insurance within the meaning of § 18f of the Insurance Supervisory Act as well as contributions to foreign institutions within the meaning of § 5 Z 4 of the Pensionskassengesetz, under the following conditions: "
(b) Sublit. aa):
" (aa) |
The Pensionskassenvertrag and the Occupational Collective Insurance Contract must comply with the Act on the Occupational Pensions Act. " |
c) In sublit. cc) the word order is deleted "in investment and risk communities".
(d) In sublit. dd) the word sequence shall be deleted "in investment and risk communities" and the first half sentence of the second sentence is:
" In the case of commitments with a contribution adjustment agreed in the Pensionskassenvertrag or in-company collective insurance contract, the contribution adjustment may be made in sublit. (cc) exceeded the limit referred to in
2. In Section 18 (1) (2) (2), in the fourth indent, the point shall be replaced by a supplement and added as the fifth and sixth sublines:
"- |
company collective insurance within the meaning of § 18f of the Insurance Supervision Act, |
|||||||||
- |
foreign institutions within the meaning of § 5 Z 4 of the Pensionskassengesetz (Pensionskassengesetz). " |
3. In § 25 paragraph 1 Z 2 lit. a is the first sentence:
"Benefits and benefits from domestic pension funds and from company collective insurance within the meaning of § 18f of the Insurance Supervision Act."
3a. § 25 (1) (2) (2) lit. b is:
" (b) |
References and benefits from foreign pension funds (including foreign institutions within the meaning of § 5 Z 4 of the Pensionskassengesetz). Z 2 lit. a second sentence is to be applied to pay and benefits from foreign pension funds (including from foreign institutions within the meaning of § 5 Z 4 of the Pensionskassengesetz) in so far as the contribution benefits to such foreign pension funds are Pension funds (including those within the meaning of § 5 Z 4 of the Pensionskassengesetz) have not reduced the income abroad. This shall apply mutatily if the contribution benefits have not reduced the income abroad. " |
4. In § 26 Z 7 lit. a is the first sentence:
" Contribution by the employer to his employees
- |
Pension funds within the meaning of the Pensionskassengesetz (Pensionskassengesetz) |
|||||||||
- |
foreign pension funds on the basis of a foreign legal obligation or to foreign bodies within the meaning of § 5 Z 4 of the Pensionskassengesetz, |
|||||||||
- |
support funds which do not provide any legal entitlement to benefits; |
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- |
company collective insurance within the meaning of § 18f of the Insurance Supervision Act, |
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- |
Employee support foundations (§ 4 para. 11 Z 1 lit. (b) |
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- |
Employee participation foundation (§ 4 paragraph 11 Z 1 lit. c). " |
5. § 26 Z 7 lit. c is:
" amounts due to the law of the company or similar statutory provisions by the transfer of claims or performance obligations to a domestic legal successor or to the obligation of the person to be transferred to the foreign institutions within the meaning of § 5 Z 4 of the Pensionskassengesetz (Pensionskassengesetz), provided that the repurchase is excluded "
5a. In § 47 (1), the following sentence shall be added after the last sentence:
" The income tax on salaries and benefits of foreign institutions within the meaning of § 5 Z 4 of the Pensionskassengesetz (Pensionskassengesetz) shall be levied by deducting the working wage, even if the foreign institution within the meaning of § 5 Z 4 of the Pensionskassengesetz (Pensionskassengesetz) Federal Pensionskassengesetz (Pensionskassengesetz) does not have a permanent establishment (§ 81); for the survey, the Finanzamt Graz-Stadt is responsible. "
6. In § 47 (4), after the word order "from domestic pension funds," the phrase "of references from company collective insurance in the sense of § 18f of the Insurance Supervision Act," inserted.
6a. In Section 83 (2), in Z 4, the point is replaced by a dash and the following Z 5 is added:
" 5. |
a foreign institution within the meaning of § 5 Z 4 of the Pensionskassengesetz (Pensionskassengesetz) has not levied the income tax by deducting the working wage (§ 47). " |
7. § 108a is amended as follows:
(a) In paragraph 1, first sentence, the word order shall be "to a pension fund or" through the phrase "to a pension fund, an occupational collective insurance within the meaning of § 18f of the Insurance Supervision Act or" replaced.
(b) In paragraph 5, second sentence, the word order shall be "Contributions to Pensionskassen or" through the phrase "Contributions to pension funds, to company collective insurance within the meaning of § 18f of the Insurance Supervision Act or" replaced.
8. § 124 is amended as follows:
(a) The heading is:
"Pensionskassen and Occupational Collective Insurance"
(b) in the first sentence, after the words "Pensionskassen im Sense des Pensionskassengesetz" the phrase "and company collective insurance as defined in § 18f of the Insurance Supervision Act" inserted.
c) in Z 2 the phrase in the parenthesis is the word sequence "and § 18i of the Insurance Supervision Act" .
(d) in Z 4, the word order shall be "§ 3 (2)" through the phrase § § 3 (2) or 6a (2) (2) " replaced and after the word "Pensionskassencontracges" the phrase "or the company collective insurance contract" inserted.
9. In § 124b the following Z 118 is added:
" 118. |
§ 4 (4) Z 2, § 18 (1) Z 2, § 26 Z 7, § 47 (4) and § 124, as amended by Federal Law BGBl I No. 8/2005, are to be applied for the first time if: |
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- |
the income tax is assessed in the case of the apportionment for the calendar year 2005, |
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- |
the income tax (payroll tax) is deducted by deductions or is fixed by apportionment, for the first time in the case of payroll periods ending after 31 December 2004. " |
Article 5
Amendment of the Corporate Tax Act 1988
The Corporation Tax Act 1988, BGBl. No. 401, as last amended by the Federal Law BGBl. I No 180/2004, shall be amended as follows:
1. In Section 6 (1), the second sentence is inserted:
" ; this applies analogously to insurance in respect of company collective insurance within the meaning of § 18f of the Insurance Supervision Act. Income from company collective insurance within the meaning of § 18f of the Insurance Supervision Act has to be covered by the insurance in a separate accounting district. "
2. In the last sentence of § 17 (3), the word sequence shall be replaced by the point of the point "as well as for company collective insurance within the meaning of § 18f of the Insurance Supervision Act."
3. In § 26c the following Z 9 is added:
" 9. |
§ 6 (1) and § 17 (3) in the version of the Federal Law BGBl (Federal Law Gazette). No 8/2005 is to be applied for the first time in the case of the assessment for the calendar year 2005. " |
Article 6
Amendment of the inheritance and gift tax law
The Inheritance and Donation Tax Act 1955, BGBl. No. 141/1955, as last amended by the Federal Law BGBl. I No 180/2004, shall be amended as follows:
1. § 15 para. 1 Z 10 reads:
" 10. |
Pensions and similar benefits granted without any legal obligation to former or current employees or staff, grants to pension funds or support funds of their own business, grants to foreign nationals Entities within the meaning of § 5 Z 4 of the Pensionskassengesetz (Pensionskassengesetz) as well as donations to other insurance companies in so far as the benefits are to be attributed to an in-company collective insurance within the meaning of § 18f of the Insurance Supervision Act; " |
2. § 15 para. 1 Z 16 reads:
" 16. |
pensions, pensions and other similar benefits, the spouses, children or persons with whom the deceased has lived in a similar community, |
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- |
on the basis of a pension contract concluded by the deceased with his service provider, or |
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- |
on the basis of a collective agreement applicable to pension rights, or |
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- |
on the basis of a pension commitment of the employer or a pension fund of the establishment of the service provider, or |
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- |
on the basis of an in-company collective insurance within the meaning of § 18f of the Insurance Supervision Act, or |
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- |
of foreign bodies within the meaning of § 5 Z 4 of the Pensionskassengesetz (Pensionskassengesetz) or |
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- |
on the basis of a pension supplementary insurance scheme concluded by the deceased (§ 108b of the Income Tax Act 1988), including supplementary pension insurance schemes in connection with § 17 of the Operating Staff Pension Act-BMVG, BGBl. I No 100/2002, or similar Austrian legislation, |
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';' |
3. In § 34 (1) the following Z 11 is added:
" 11. |
§ 15 para. 1 Z 10 and Z 16, in the version of the Federal Law BGBl. I n ° 8/2005, shall apply to operations for which the tax liability arises after 22 September 2005. " |
Article 7
Amendment of the Insurance Tax Act
The Insurance Tax Act 1953, BGBl. N ° 133/1953, as last amended by the Federal Law BGBl. I No 33/2003, shall be amended as follows:
1. § 3 para. 1 second sentence reads:
" Pension fund contributions to pension funds in the sense of the Pensionskassengesetz (Pensionskassengesetz) as well as contributions to foreign institutions within the meaning of § 5 Z 4 of the Pensionskassengesetz (Pensionskassengesetz), with the exception of the transfer of the pension fund, are also considered as insurance Cover requirement in accordance with § 48 of the Pensionskassengesetz (Pensionskassengesetz) or § 18i of the Insurance Supervision Act or transfer amounts to foreign bodies within the meaning of § 5 Z 4 of the Pensionskassengesetz (Pensionskassengesetz). "
2. § 6 para. 1 Z 2 reads:
" 2. |
In the case of old-age, survivors ' and invalidity care in the sense of the Pensionskassengesetz (Pensionskassengesetz) and foreign institutions within the meaning of § 5 Z 4 of the Pensionskassengesetz (Pensionskassengesetz), in the case of company collective insurance within the meaning of § 18f of the Insurance supervision law and supplementary pension insurance as defined in § 108b of the Income Tax Act 1988 2.5 vH of the contributions, " |
3. In § 12 (2) the following Z 16 is added:
" 16. |
§ 3 (1) and 6 (1) (1) (2), in the version of the Federal Law BGBl. I No 8/2005 shall apply to all payments of insurance charges due after 22 September 2005. " |
Article 8
Amendment of the Law on the Law of the State
The Law on Operations, BGBl. No 282/1990, as last amended by the Federal Law BGBl. I n ° 51/2002, shall be amended as follows:
1. § 2 Z 1 reads:
" 1. |
Contributions to a pension fund or to a body within the meaning of § 5 Z 4 Pensionskassengesetz (PKG), BGBl. No 281/1990, to pay for the benefit of the employee and his survivors; premiums for an occupational collective insurance scheme in respect of an insurance undertaking authorised to operate life insurance in the territory of the country (§ 18f Insurance Supervision Act, BGBl. No 569/1978) in favour of the employee and his survivors; in any event, pension fund commitments or collective insurance undertakings have to be provided with an old-age pension and a survivor ' s pension; retirement pensions are lifelong, survivors ' pensions in accordance with the period laid down in the pension fund contract or insurance contract; " |
2. § 3 (1) Z 1 reads:
" 1. |
The participation of the eligible persons and the beneficiaries in the management of the pension fund or establishment within the meaning of § 5 Z 4 PKG; " |
3. § 5 (2) (2) (2) is:
" 2. |
the transfer of the inconspicuity amount referred to in paragraph 1a to the pension fund, the collective insurance in-company, the institution within the meaning of § 5 Z 4 PKG or a group pension insurance of a new employer or to a group pension insurance scheme Pension insurance without the right to buy back; the amount of infestation referred to in paragraph 1a may also be transferred to a pension fund in which the employee is already subject to an inalienable relationship if the new employer is does not intend to grant a pension to the worker; " |
4. The following paragraph 5 is added to § 5:
"(5) In the event of a benefit, the employee may require the pension fund to be transferred from the pension fund to an occupational collective insurance scheme."
(5) In accordance with § 6, a section 2a, including the heading, is inserted:
" Section 2a
Company collective insurance
Conditions for the conclusion of a company collective insurance
§ 6a. (1) The conclusion of an in-company collective insurance is required, with the exception of the cases referred to in paragraph 2, in accordance with § 18f of the VAG for the legal validity of the conclusion of an operating agreement or in the cases of para. 1a of a Collective agreement. In any case, collective agreement or operating agreement shall have to be regulated:
1. |
The participation of insured persons in accordance with § 18j VAG; |
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2. |
the right to benefit, including, in particular, the rights of the insured person; the amount of premiums to be paid by the employer, which, in the case of a contributory agreement with the insurance undertaking, is in proportion to or in fixed relation to: variable premiums may be laid down; in addition, variable premiums may be provided up to the amount of premiums to be paid by the employer; the employer's sole obligation to pay the premiums or charges payable by the employer shall be fixed. Premium adjustment in the event of the occurrence of additional cover requirements; |
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3. |
the conditions for the employer's termination of the insurance contract in accordance with § 18f VAG and the legal effects of this termination in respect of the claims of the eligible persons and the persons entitled to benefits. |
(1a) A collective insurance scheme may be provided for in a collective agreement where:
1. |
a collective agreement at the end of the day 1. January 1997 provides for an operating age (surviving) supply, or |
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2. |
one such for a non-II. Part of the Labour Constitution Act, BGBl. No 22/1974, subject to operation (or a company). |
(1b)
1. |
The non-collective contractual collective insurance policy is removed by the change of the collective agreement. |
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2. |
Cancellation of the collective agreement by dismissal |
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the provisions of the collective agreement on an occupational collective insurance are subject to the contents of the employment contract of the person entitled to the right of protection. |
(1c) In the case of other erasure of the collective agreement, the insured person shall be retained from the company collective insurance scheme until the end of its subsequent effect (§ 13 ArbVG), with the insured person at the time of the Termination of the retroactive effect shall have the same rights (Section 6d (3)) as in the case of revocation of the contribution by the employer.
(2) For employees who are not represented by an works council or for which no collective agreement (within the meaning of paragraph 1) applies, the accession to a company collective insurance scheme requires the prior conclusion of an agreement with the Employers who are to be designed according to a contract pattern, taking into account § 18. This type of contract shall be governed by the matters referred to in paragraph 1.
(3) If claims by former employees are transferred from direct performance commitments to an insurance undertaking, paragraph 2 shall apply.
(4) If the employee has an obligation to make his own premiums, he may discontinue his premium performance at any time or suspend or restrict it for a period of at least two years. The employee may also suspend, suspend or restrict his premium performance if the employer makes a corresponding change in his premium performance (§ 6d) to the employee. The worker's premiums may not exceed the sum of the employer's annual premiums, except
1. |
in the cases referred to in § 6d, or |
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2. |
in cases where, in addition to a performance-oriented undertaking by the employer, the employee makes his own premiums (contributory) and the employer's premiums are reasonably deducted without changing the undertaking; or |
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3. |
the employee's own premiums up to the one in § 108a of the Income Tax Act, BGBl. No 400/1988, the amount of the refund in accordance with Section 108a of the EStG, which can be credited to the account for employees, is not to be credited to this amount. |
For the duration of an education karence according to § 11 of the Labour Contract Law Adaptation Act (AVRAG), BGBl. No 459/1993, or an exemption pursuant to Section 12 of the AVRAG, the employee may continue to pay his premiums in the previous amount or also take over the premiums of the employer. If the employer premiums are reduced as a result of a working time reduction in accordance with § § 13 and 14 AVRAG, the employee can continue to pay his premiums in the previous amount or, for the duration of the working time reduction, also the apportion Employers ' premia.
Restrictions on the supply and the executive
§ 6b. The assignment or pledging of a service within the meaning of § § 6c and 6d is legally ineffectuated. The executive order, RGBl, applies to the seizure. No. 79/1896.
Indivisibility
§ 6c. (1) In the event of termination of the employment relationship prior to the performance of the benefit, the insurance claim previously acquired from the employee's own contributions and contributions from the employer to an insurance undertaking shall be made up of the Insurance contract (old-age and survivor's pension) infestable. The inconspicuity amount shall be equal to the cover provision falling on the individual insured persons. The cover provision shall be calculated on the basis of the actuarial principles of the insurance undertaking.
(2) The worker may, after termination of the employment relationship,
1. |
require the conversion of the insurance into a premium-free insurance; upon entry of the performance case, the insured person has a claim against the insurance company, which is based on the insurance contract until the end of the insurance contract. -the employment relationship to be paid, taking into account the interest paid up to the entry of the performance case, and the percentage of the profits made; |
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2. |
the transfer of the infestation amount as referred to in paragraph 1 into the pension fund, into a body within the meaning of § 5 Z 4 PKG, into an occupational collective insurance scheme or into a group pension insurance of a new employer, or into a Require pension insurance without the right of repurchase; |
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3. |
require the transfer of the inconspicuity amount in accordance with paragraph 1 into a direct benefit commitment of a new employer if an employer change from the previous employment relationship within a group, while safeguarding the pension rights , |
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4. |
call for the transfer of the inconspicuity amount as referred to in paragraph 1 to a foreign pension scheme if the employee is permanently transferring his place of work to another country; |
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5. |
only require their own contributions if at least five years of contributions have been made on the basis of a performance commitment, or if an employer change takes place within a group. |
(3) If the employee does not give an explanation of the use of his claim within six months, the insurance shall be included in a premium-free insurance (para. 2 Z 1). If, at a later date, the employee demands the transfer of his claim to the pension fund of a new employer, into the company collective insurance of a new employer, into a group pension insurance of a new employer. Employer or in a foreign pension scheme (par. 2 Z 4), the cover return is to be transferred.
(4) If the amount of infestation under para. 1a at the time of termination of the employment relationship does not exceed the amount resulting from § 1 (2) and (2a) PKG, the employee may be found; he shall be informed of his request. .
(5) In the event of a benefit, the employee may require the transfer of the inconspicuity amount from the company collective insurance into a pension fund, in which he is already a person entitled to a pension within the meaning of § 5 of the German Social Insurance Act (PKG).
Setting, setting out or limiting premium performance
§ 6d. (1) The employer can only set the current premium benefits (revocation) if:
1. |
it is provided for in the collective agreement, in the operating agreement or in the contract model, |
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2. |
the economic situation of the enterprise is worsened to such an appreciable degree that the maintenance of the promised performance would endanger the continued operation of the company and |
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3. |
in establishments in which a competent works council exists, at least three months prior to the setting of the contribution rate, advice has been provided with this works council. In addition to this advice, the works council may provide an expert person who has to maintain secrecy over all business and trade secrets that have become known to her. |
(2) The employer shall be entitled to the right to the insurance benefit on the basis of any premiums paid by the employer and the employer's premiums due up to the revocation of the contract.
(3) The worker may, after revocation,
1. |
require the conversion of the infestation amount in accordance with paragraph 2 into a premium-free insurance policy; in the event of the performance of the performance, the person entitled to benefit has a claim against the insurance company, which is based on the insurance contract up to the end of the employment relationship to be paid, taking into account the interest paid up to the date on which the performance of the benefit is paid, and the percentage of the profits to be paid; |
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2. |
require the transfer of the infestation referred to in paragraph 2 into a pension scheme without the right to repurchase; |
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3. |
require the continuation only with their own contributions. |
(4) If the employee does not issue a declaration within six months on the use of his inconspicuity amount in accordance with para. 2, Section 6c (3) shall apply.
(5) If the amount of infestation under para. 2 at the time of the revocation does not exceed the amount resulting from § 1 para. 2 and 2a PKG, the employee can be found; he is to be found over his request.
(6) The employer may suspend or restrict the current premium benefits only and for so long, as
1. |
it is provided for in the collective agreement, in the operating agreement or in the contract model, |
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2. |
are compelling economic reasons, and |
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3. |
in establishments in which a competent works council exists, at least three months prior to the release or reduction of the contribution rate, advice has been provided with this works council. In addition to this advice, the works council may provide an expert person who has to maintain secrecy over all business and trade secrets that have become known to her. |
(7) If the employer's premiums are suspended or restricted, the worker may be subject to the same period of time:
1. |
suspend or restrict premiums to the same extent, |
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2. |
continue to pay its premiums in the previous amount; or |
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3. |
will also take over the employer's premiums. " |
6. § 7 (3) Z 1 reads as follows:
" 1. |
the transfer of the inconspicuity amount (pursuant to para. 2a and 2b) to the pension fund, to an occupational collective insurance or to a group pension scheme of a new employer or to a pension insurance scheme without a right to buy back ; if the employee is still an employee in the pension fund, in-company collective insurance or group pension insurance of a former employer, he may transfer the amount of inconspicuity into the pension fund Pension fund, occupational collective insurance, or Require group pension insurance; " |
7. § 13 (1) Z 2 reads:
" 2. |
require the transfer of the repurchase value at the time of termination of the employment relationship in the pension fund, into an occupational collective insurance scheme or into a group pension insurance of a new employer; " |
8. § 17 para. 2 reads:
"(2) The obligation to provide information within the meaning of paragraph 1 shall apply to the pension fund, in the case of life insurance or in-company collective insurance, to the insurance undertaking in the case of promised pension fund benefits."
9. § 18 para. 2 reads:
" (2) In the case of performance commitments in accordance with section 2 or 2a, the employee or employee group of the establishment must have a balanced, arbitrary and non-non-discriminatory participation in the pension system or system of the pension scheme. in-company collective insurance. "
10. The following Z 7 shall be added to Article VI (1):
" 7. |
§ § 2 Z 1, 3 Abs. 1 Z 1, 5 Abs. 2 Z 2 und Abs. 5, Section 2a, 7 Abs. 3 Z 1, 13 Abs. 1 Z 2, 17 sec. 2 und 18 Abs. 2 in der Version des Bundesgesetz BGBl. I n ° 8/2005 enter into force with 23 September 2005. " |
Article 9
Amendment of the Labour Constitution Act
The Labour Constitution Act, BGBl. N ° 22/1974, as last amended by the Federal Act BGBl. I n ° 82/2004, is hereby amended as follows:
1. § 31 (7) reads:
" (7) The validity of operating agreements shall not be without prejudice to the employees of undertakings or parts of the holding which are taken up by another establishment, in so far as they concern matters relating to the operating arrangements of the do not be regulated. Operating agreements within the meaning of Article 97 (1) (e) (18), (18a) or (Z) 18b may be concluded for the employees affected by such a measure by the holder of the holding or part of the holding, subject to compliance with a one-month period of time. Notice period shall be terminated. "
2. In accordance with § 97 (1) Z 18a the following Z 18b shall be inserted:
" 18b. |
The conclusion of an occupational collective insurance, the obligations of the employer and the rights of the insured persons resulting therefrom, the manner in which the payment and the principles relating to the amount of the premiums which the worker is paid to pay. the obligation to participate in the insurance contract, the termination of the insurance contract and the resulting legal consequences; " |
Section 97 (4) reads as follows:
"(4) The termination of operating agreements referred to in paragraph 1 (a) (18a) or (18b) shall be effective only in respect of the employment relationships established after the date of termination of the contract."
(4) The following paragraph 17 is added to § 254:
" (17) § § 31 (7) and 97 (1) (18b) and (4) in the version of the Federal Law BGBl (Federal Law Gazette). I n ° 8/2005 enter into force with 23 September 2005. "
Article 10
Amendment of the Working Contract Law Adaptation Act
The Labour Contract Law Adaptation Act, BGBl. No 459/1993, as last amended by the Federal Law Gazette (BGBl). I No 100/2002, is amended as follows:
1. § 5 (2) reads:
" (2) If the transfer of business results in the omission of the company pension supplement and the employee has not contradicted the transfer of his employment relationship in the case of the second sentence of paragraph 1, the date of the transfer of the company shall end with the date of the transfer of the company's pension. Acquisition of new pension rights. The employee is entitled to compensation for the purchase of the previously acquired rights as an amount of indispensible amount within the meaning of the German Federal Act on the Law of the German Federal Government (BPG), Article I of the Federal Law BGBl. No 282/1990. In the case of contributions-oriented commitments, this amount is calculated according to the BPG, in case of direct performance commitments, performance-oriented pension fund commitments or performance-oriented insurance contracts (Occupational Collective insurance, (i) life insurance) in accordance with the partial-value procedure and the actuarial principles to be applied in the formation of the provision. The calculation is on the one hand the age at the time of the granting of the promise and on the other hand the decay salter to be used. The invoice interest rate is in principle 7%. However, in the case of pension commitments which provide for legally binding valorisation, the present value of the future pension benefits shall be calculated on the basis of a 3% invoice rate. In the case of a performance-based pension scheme or a performance-based insurance contract, the amount of the pension calculated in accordance with the accounting rules of the pension fund or the insurance company shall be the sum of the benefits calculated in this way. Inconspicuity amount deducted after the BPG. "
2. A Z 16 shall be added to Section 19 (1):
" 16. |
§ 5 (2) in the version of the Federal Law BGBl. I n ° 8/2005 will enter into force on 23 September 2005. ' |
Article 11
Amendment of the Operating Staff Welfare Act
The Corporate Employee Pension Act, BGBl. No 100/2002, as last amended by the Federal Law BGBl. N ° 161/2004, shall be amended as follows:
1. § 17 para. 1 Z 4 lit. a is:
" (a) |
to an insurance company where the employee is already insured under a company collective insurance (§ 18f Insurance Supervision Act, BGBl. No 569/1978), or an insurance undertaking of his choice as a one-off premium for a pension supplementary pension insurance which has been proven to be completed by the person entitled to the right to be eligible (Section 108b of the Income Tax Act 1988-EStG 1988, BGBl. No. 400), whereby by way of derogation from § 108b sec. 1 Z 2 EStG 1988 it can be provided that the supplementary pension is at the earliest with the completion of the 40. of a year of life, or " |
(2) The following paragraph 7 is added to § 46:
" (7) § 17 para. 1 Z 4 lit. a in the version of the Federal Law BGBl. I n ° 8/2005 will enter into force on 23 September 2005. '
Article 12
Amendment of the Insolvency Law for the Protection of Remuneration in 1977
The Insolvency Law of the 1977, BGBl. No. 324/1977, as last amended by the Federal Law BGBl. I n ° 77/2004, shall be amended as follows:
1. § 1 (3) Z 6 reads:
" 6. |
for claims under the Operating Law (BPG), BGBl. No. 282/1990, compared to a pension fund within the meaning of the Pensionskassengesetz (Pensionskassengesetz, PKG), BGBl. No 281/1990, or an insurance undertaking within the meaning of the Insurance Supervision Act (VAG), BGBl. No. 569/1978. ' |
Section 7 (8) reads as follows:
" (8) Insolvency default for pension fund contributions or for premiums in an occupational collective insurance scheme, which is paid to the employees as part of the current pay up to the termination of the employment relationship or within the framework of the Dismissal compensation, compensation for holiday pay (vacation rental, holiday compensation) or the special payments, is to be paid into the pension fund or the insurance company. "
(3) The following paragraph 38 is added to § 17a:
" (38) The § § 1 (3) Z 6 and 7 (8) in the version of the Federal Law BGBl. I n ° 8/2005 enter into force with 23 September 2005. "
Fischer
Bowl