Law On The Miscellaneous Provisions (1)

Original Language Title: Loi portant des dispositions diverses (1)

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Read the untranslated law here: http://www.ejustice.just.fgov.be/cgi/article_body.pl?numac=2014003195&caller=list&article_lang=F&row_id=700&numero=779&pub_date=2014-05-07&dt=LOI&language=fr&fr=f&choix1=ET&choix2=ET&fromtab=+moftxt&trier=publication&sql=dt+=+'LOI'&tri=pd+AS+RANK+

Posted the: 2014-05-07 Numac: 2014003195 FEDERAL finance PUBLIC SERVICE April 25, 2014. -Law concerning various provisions (1) PHILIPPE, King of the Belgians, to all, present and to come, hi.
The Chambers have adopted and we endorse the following: Chapter 1. -Provisions General Article 1. § 1.
This Act regulates a matter referred to in article 78 of the Constitution.
§ 2. This Act ensures the transposition of articles 4, paragraph 7, 56, 58, 68, 72, 143 and 144 Directive 2013/36/EC of the European Parliament and of the Council of 26 June 2013 regarding access to the activity of credit institutions and the prudential supervision of investment firms and credit institutions, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC.
CHAPTER 2. -Amending provisions related to the implementation of the Security Act of July 1, 2011 and the protection of critical infrastructure in the sector of Finance Section Ire. -Modifications of the Safety Act of July 1, 2011 and the protection of critical infrastructure articles (2 in the Act of July 1, 2011 security and critical infrastructure protection, c) of article 3, 3 ° is replaced by the following: "c) for the finance sector: the National Bank of Belgium;".
S.
3. in article 13 of the Act, the following changes are made: 1 ° it is inserted a § 5A worded as follows: "§ 5a." For critical infrastructure in the sector of finance, security measures, such as the policy of continuity, of business continuity plans and plans of physical and logical security, that companies are required to implement in the context of the status of prudential supervision that is applicable to them and/or in the context of the (oversight) supervision to which they are subject by the National Bank of Belgium , are assimilated to the L.D.C. ";
2 ° § 6, paragraph 1, is supplemented by the following sentence: "For the sector of finance, exercises and updates of the security referred to in paragraph 5bis, measures shall be assimilated to the exercises and updates the L.D.C. referred to in this paragraph.".

S. 4. in the same Act, it is inserted an article 22A as follows: "article
22A. for the sector of finance, the National Bank of Belgium communicates to the Minister of finance a report relating to the tasks she performs under this Act on a basis appropriate however not exceeding three years.
The National Bank of Belgium however informs him without delay of any concrete and imminent threat weighing on the finance sector critical infrastructure. "."
S.
5. article 24, paragraph 2, of the Act is supplemented by two paragraphs worded as follows: "for the sector of finance, the National Bank of Belgium is designated as inspection service responsible for monitoring the application of the provisions of this Act and its implementing orders.
To this end, the National Bank of Belgium can make use of the information at its disposal in the context of its legal tasks of prudential supervision and monitoring (oversight) and takes into account, inter alia, the observations made in this framework. Similarly, in the context of its legal tasks of prudential supervision and monitoring (oversight), the National Bank of Belgium may use the information available to it pursuant to this Act. "."
S. 6. article 24, paragraph 3 of the same Act is supplemented by a paragraph as follows: "this paragraph is not applicable to the inspection service designated pursuant to paragraph 2, subparagraph 3.".
Section II.
-Amendments to the law of 22 February 1998 establishing the Organic Statute of the National Bank of Belgium art.
7. article 36/14, § 1 of the law of 22 February 1998 establishing the Organic Statute of the Bank national of Belgium, as last amended by the Act of November 27, 2012, is complemented by a 20 ° as follows: "20 ° within the limits of the law of the European Union, to the Government Coordination and crisis of the FPS Interior Centre the coordinating body for the analysis of the threat, established by the law of 10 July 2006 concerning the analysis of the threat, and police services covered by the Act of 7 December 1998 organizing an integrated police service structured on two levels, insofar as the application of article 19 of the law of July 1, 2011 relating to security and the protection of critical infrastructure requires. "."
CHAPTER 3. -Provisions amending and repealing various Section Ire. -Amendment of the Act of 2 April 1962 the Société fédérale de Participations et investment and regional investment arts companies 8. in article 2, § 3, of the law of 2 April 1962 on the federal participation and Investment Corporation and the regional investment companies, replaced by the law of 4 August 1978 and amended by the Act of August 26, 2006, the first subparagraph is completed by the words "and in the resolution of financial institutions".
Section II.
-Amendments to the law of 9 July 1975 on s. insurance companies control
9. article 2, § 6 of the law of 9 July 1975 on the control of insurance undertakings, as last amended by the royal decree of 3 March 2011, is supplemented by a 24 ° as follows: "24 ° 'independent supervisory function': the internal audit function, the compliance function, or function of risk referred to respectively in article 2" management 3 or 4 of article 14bis, § 3, as well as the actuarial function within the meaning of article 40quinquies. "."
S. 10. article 8, paragraph 2, third indent, 3 °, of the same Act inserted by stopped royal March 3, 2011, is replaced by the following: "3 ° the professional integrity of the persons to be members of the legal Board of the insurance undertaking, the Committee of management or, in the absence of Management Committee, called persons to be responsible for the effective management" , as well as people called to be responsible for the independent control functions, if these persons are proposed for the first time for such a function in a financial company controlled by the Bank pursuant to article 36/2 of the law of 22 February 1998; "."
S. 11. in article 14bis, § 5 of the same Act, amended by stopped royal March 3, 2011, the following changes are made: 1 ° to the paragraph 1, the words 'the persons responsible for the effective management of the insurance undertaking, where appropriate Management Committee, take,' shall be replaced by the words "the Executive Committee or, where appropriate, the persons responsible for the effective management of the insurance undertaking , takes, ";
2 ° to paragraph 3, the words "those responsible for the effective management, appropriate Management Committee, make report" are replaced by the words "The Executive Committee or, where appropriate, the persons responsible for the effective management, reported".
S. 12. in article 15bis, § 4, paragraph 1, 3 ° of the law of 9 July 1975 on the control of insurance undertakings, replaced by the law of 20 June 2005 and amended by the royal decree of March 3, 2011, the words "within the meaning of Act of 22 March 1993 on the status and control of credit institutions", are replaced by the words "within the meaning of the Act of April 25, 2014 to the status and control of" credit institutions".
S. 13. in article 22, § 3, paragraph 2 of the same Act, amended last by stopped royal March 3, 2011, the following changes are made: 1 ° in the first sentence, the words 'Effective management of the insurance company, if the Management Committee', shall be replaced by the words "the Executive Committee or, where appropriate, the persons responsible for the effective management ,";
2 ° in the third sentence, the words "The effective Executive" are replaced by the words "the Executive Committee or, where appropriate, the persons responsible for the effective management,".
S. (14. in article 23bis, § 3, paragraph 2, b), of the Act, last amended by stopped royal March 3, 2011, "the reputation and the experience" shall be replaced by the words "the integrity and expertise".
S. 15. in article 50 of the same Act, inserted by the royal decree of 12 August 1994 and amended by stopped royal March 3, 2011, the following changes are made: 1 ° in paragraph 2, paragraph 3, the first sentence starting with the words "articles" and ending with the words "of the branch." is replaced by the following sentence: "articles 9A 90, §§ 1 and 3 and 90bis shall apply by analogy to the authorized agent and, where applicable, other persons responsible for the effective management of the branch as well as officials of the independent control functions. ";
2 ° paragraph 3, 4 is replaced by the following: "4 ° the name, the address and the powers of the general agent of the branch, where appropriate, other senior managers of the branch as well as officials of the independent control functions;".
S. 16. in article 51, paragraph 1 of the Act, as last amended by the royal decree of March 3, 2011, the second sentence beginning with the words "It may also" and ending with the words "of the branch." is replaced by the following sentence: "it can also oppose if it has reason to doubt the professional repute or the expertise of the general agent or" where applicable, of other persons

of the effective management of the branch or the independent control functions of the branch managers. "."
S. 17. in article 63, paragraph 2 of the same Act, amended in last place by the Act of February 16, 2009, the words "and article 90" are replaced by the words "and articles 90, 90/1-90/5 and 90bis".
S. 18. in article 88, paragraph 1 of the Act, as last amended by the royal decree of 3 March 2011, "managers or agents of insurance companies" shall be replaced by the words "members of the legal governing body, representatives of insurance companies or independent control functions responsible for insurance undertakings".
S.
19. article 90 of the Act, as last amended by the royal decree of 3 March 2011, is replaced by the following: 'article 90 § 1. The members of the legal organ of Directors of insurance companies, the persons responsible for the effective management and the heads of the independent control functions are exclusively of natural persons.
The persons referred to in paragraph 1 must have permanently the professional repute and expertise appropriate to the exercise of their function.
§ 2. Effective management of insurance undertakings should be entrusted to two persons at least.

§ 3. Article 20 of the Act of April 25, 2014 to the status and control of credit institutions shall apply. "."
S. 20. in the same Act, a written 90/1 article is inserted as follows "s. 90/1. § 1. Insurance companies incorporated under the form of Société anonyme shall set up an Executive Committee within the meaning of article 524bis of the Code of corporations composed exclusively of members of the Governing Council, at which all of the powers of management of the Board of Directors are delegated. However, this delegation cannot wear or on the determination of the policy, or the acts reserved to the Board of directors by the other provisions of the Code of corporations or by this Act.
§ 2. The Board has a majority of directors who are not members of the Executive Committee.

§ 3. The functions of Chairman of the Board of Directors and Chairman of the Executive Committee are performed by different people.
§ 4. The daily management referred to in article 525 of the Code of corporations may be entrusted to a non-executive member of the Board of Directors. "."
S.
21. in the same Act inserted an article 90/2 as follows: "article 90/2. § 1. The statutes of insurance incorporated under one other form of Société anonyme shall require the establishment, within the body of legal administration, of a body, exclusively composed of members of the legal administration body, referred to as "Management Committee", which are delegated all the powers of management of the body of legal administration excluding the determination of the general policy, acts reserved to the body of legal administration in the Code of corporations or by this Act.
§ 2. The legal Board has a majority of members who are not members of the Management Committee referred to in paragraph 1.

§ 3. The functions of president of the legal Board of Directors and Chairman of the Executive Committee are performed by different people.
§ 4. The daily management, when it is provided for by the Code of corporations for the corporate form concerned, cannot be entrusted to a non-executive member of the statutory governing body. "."
S. 22. in the Act, it is inserted an article 90/3 as follows: "article 90/3. The Bank may, depending on the size and profile of risks to an insurance undertaking, authorize it to waive, in whole or in part, the obligations laid down by articles 90/1 and 90/2.
The derogation may include: 1 ° on the requirement to establish a Steering Committee, without prejudice to compliance with article 90, § 2;
2 ° on the composition of the Executive Committee, authorising that are members of persons who are not members of the legal governing body; in this case, articles 90, 4/90, 90/5 and 90bis apply to them;
3 ° on an overlapping of functions of Chairman of the Committee of management and Chairman of the statutory governing body. "."
S.
23. in the Act, it is inserted an article 90/4 as follows: "article 90/4. § 1. Without prejudice to article 14bis, Member of the Board of the insurance undertaking, the legal governing body members and all persons who under any name and in any capacity whatsoever, take part in its administration or management may, in representation of the insurance undertaking, exercise warrants administrator or Manager or take part in the administration or management within a corporation or commercial a business of another form of Belgian or foreign or public institution Belgian or foreign law, business industrial, commercial or financial, to the conditions and within the limits laid down in this article.
§ 2. The external functions referred to in paragraph 1 are governed by internal rules that the insurance undertaking must adopt and enforce to pursue the following objectives: 1 ° avoid that the performance of these duties by persons involved in the effective management of the insurance undertaking shall affect the availability required for the exercise of effective management;
2 ° prevent the occurrence of conflicts of interests as well as the risks involved in the exercise of these functions, especially in terms of insider trading in the head of the insurance undertaking;
3 ° ensure appropriate publicity of these functions.
The Bank sets the terms of those obligations by means of a regulation adopted in application of article 12 bis of the law of 22 February 1998.
§ 3. Corporate officers appointed on presentation of the insurance undertaking must be members of the Board of the insurance undertaking or individuals designated by the Executive Committee.
§
4. The legal governing body members which are not members of the Board of the insurance undertaking may exercise a mandate in a society in which the insurance undertaking holds participation if they do not participate in the day-to-day management of the company.
§
5. The members of the Committee of management or, in the absence of Management Committee, people involved in the effective management of the insurance undertaking cannot exercise a mandate with a participation in the day-to-day management that if it: 1 ° of a company referred to in article 89, § 1, of the Regulation (EU) No. 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation) EU) No. 648/2012, with which the assurance undertaking has close links;
(2) an undertaking for investment in debt to statute within the meaning of the law of August 3, 2012 on collective investment undertakings which meet the conditions of directive 2009/65/EC and organizations investment in debt claims or an undertaking for collective investment in statutory form within the meaning of the Act on August 3, 2012 or the Act of April 19, 2014 alternative collective investment undertakings and their managers;
3 ° of a business whose activity lies in the continuation of the business of insurance, such a brokerage office or a claims office, 4 ° of a heritage society in which such persons or their family hold a significant interest as part of the normal management of their heritage.
Involved in the effective management of a cooperative society referred to in article 2 § 1b, may also participate in the daily management of a mutuality of a national union mutual insurance companies or another mutual company referred by the law of 6 August 1990 supra with which members of the cooperative society referred to in article 2 § 1b, can join.
§ 6. Insurance undertakings shall immediately notify the bank functions outside the insurance undertaking by persons referred to in paragraph 1 for the purposes of the control of compliance with the provisions laid down in this section. "."
S. 24. in the Act, it is inserted an article 90/5 as follows: "article 90/5. In the case of bankruptcy of an insurance undertaking, are void and without effect relatively grounded, payments made by this company, either in cash, or otherwise, to its members of the statutory body of Directors as directors or other bonuses, during the two years preceding the time determined by the tribunal as being that of the cessation of payments.
Paragraph 1 does not apply if the tribunal recognizes that no fault serious and characterized these people contributed to the bankruptcy. "."
S. 25. article 90bis of the Act, as last amended by the royal decree of 3 March 2011, is replaced by the following: 'article 90bis. § 1.
Insurance undertakings previously inform the Bank of the proposal for the appointment of members of the legal Board of Directors and the members of the Committee of management or, in the absence of Management Committee, of those responsible for the effective management and responsible persons of the independent control functions.
In the context of the information required under paragraph

1, insurance undertakings communicate to the Bank all documents and information to assess whether persons whose appointment is proposed have the required professional repute and the appropriate expertise in the performance of their duties in accordance with article 90.
Paragraph 1 is also applicable to the proposal for renewal of the appointment of persons who are covered as well as the non-renewal of appointment, dismissal or resignation.
§ 2. The appointment of the persons referred to in paragraph 1 is subject to the prior approval of the Bank.
When it comes to the appointment of a person who is proposed for the first time to a function referred to in paragraph 1 in a company under the control of the Bank by application of article 36/2 of the law of 22 February 1998, the Bank consults before the FSMA.
The FSMA communicate its opinion to the Bank within a period of one week from the receipt of the request for an opinion.

§ 3. Insurance undertakings shall inform the supervisory authority of the possible distribution of the tasks among the members of the legal governing body, among the members of the Committee of management or, in the absence of Executive Committee, between the persons responsible for the effective management.
Significant changes in the distribution of the tasks referred to in paragraph 1, give rise to the application of paragraphs 1 and 2. "."
S. 26. article 91ter/1 of the Act, last amended by stopped royal March 3, 2011, is replaced by the following: 'article 91ter/1. § 1. Notwithstanding article 91ter, § 2, the Bank must be informed of the identity of the natural or legal persons who are planning to hold, directly or indirectly, a qualifying holding in an insurance holding company under Belgian law, as well as their intention to increase or reduce this participation. The provisions of sections 23A and 24 of the Act shall apply by analogy.
§ 2. Notwithstanding article 91ter, § 2, members of the legal governing body of an insurance holding company, the persons responsible for the effective management and, where appropriate, the control functions independent are only natural persons.
The persons referred to in paragraph 1 must have permanently the professional repute and expertise appropriate to the exercise of their function.
The effective management of an insurance holding company must be entrusted to two persons at least.
Article 20 of the Act of April 25, 2014 to the status and control of credit institutions shall apply to the persons referred to in paragraph 1.
Shall apply mutatis mutandis: 1 ° article 9A, members of the legal administration and any person participating in the actual direction.
2 ° article 90/4, to the members of the statutory body of administration, to the members of the Board of the holding company of insurance under Belgian law as well as all persons who under any name and in any capacity whatsoever, take part in its administration or management;
3 ° article 90/5, members of the legal governing body;
4 ° article 90bis to members of the legal administration and to the members of the Committee of management or, in the absence of Executive Committee, to the persons responsible for the effective management of a Belgian law insurance holding company, as well as, where appropriate, to the leaders of the independent control functions. "."
S. 27. in the same Act inserted an article 91ter/2 as follows: "article 91ter/2. § 1. Insurance holding companies incorporated in the form of joint stock company set up a Steering Committee within the meaning of article 524bis of the Code of corporations composed exclusively of members of the Governing Council, at which all of the powers of management of the Board of Directors are delegated. However, this delegation cannot wear or on the determination of the policy, or the acts reserved to the Board of directors by the other provisions of the Code of corporations or by this Act.
§ 2. The Board has a majority of directors who are not members of the Executive Committee.

§ 3. The functions of Chairman of the Board of Directors and Chairman of the Executive Committee are performed by different people.
§ 4. The daily management referred to in article 525 of the Code of corporations may be entrusted to a non-executive member of the Board of Directors. "."
S.
28. in the same Act, it is inserted an article 91ter/3 as follows: "article 91ter/3. § 1. The statutes of companies incorporated under one insurance holding another form of Société anonyme shall require the establishment, within the body of legal administration, of a body, exclusively composed of members of the legal administration body, referred to as the "Steering Committee", which are delegated all the powers of management of the body of legal administration excluding the determination of the general policy, acts reserved to the body of legal administration in the Code of corporations or by this Act.
§ 2. The legal Board has a majority of members who are not members of the Management Committee referred to in paragraph 1.

§ 3. The functions of president of the legal Board of Directors and Chairman of the Executive Committee are performed by different people.
§ 4. The daily management, when it is provided for by the Code of corporations for the corporate form concerned, cannot be entrusted to a non-executive member of the statutory governing body. "."
S. 29. in the same Act, it is inserted an article 91ter/4 as follows: "article 91ter/4. The Bank may, depending on the size and risk of an insurance holding company profile, authorize it to waive, in whole or in part, the obligations under articles 90b/2 and 90b/3.
The derogation may include: 1 ° on the requirement to establish a Steering Committee, without prejudice to compliance with article 90, § 2;
2 ° on the composition of the Executive Committee, authorising that are members of persons who are not members of the legal governing body; in this case, articles 91ter/1, 4/90, 90/5 and 90bis apply to them;
3 ° on an overlapping of functions of Chairman of the Committee of management and Chairman of the statutory governing body. "."
S.
30. in article 91nonies, § 2A, inserted by the law of 20 June 2005 and amended by the Act of February 16, 2009 and the royal decree of March 3, 2011, the words "within the meaning of Act of 22 March 1993 on the status and control of credit institutions' shall be replaced by the words"within the meaning of the Act of April 25, 2014 to the status and control of credit institutions ,".
S. 31 A article 91octies decies, § 1, inserted by the law of 20 June 2005, the following changes are made: 1 ° to 3 °, amended by the Act of February 16, 2009, the words "as defined in article 1, paragraph 2, of the law of 22 March 1993 on status and control of credit institutions," are replaced by the words "as defined in article 1 , section 3 of the Act of April 25, 2014 the status and control of credit institutions ";
2 ° to 4 °, a), the words "within the meaning of article 3, § 1, 5 °, of the law of 22 March 1993," are replaced by the words "within the meaning of article 3, 42 °, of the law of April 25, 2014 on the status and control of credit institutions";
3 ° to 6 °, amended by the Act of February 16, 2009, the words "in article 49 of the law of 22 March 1993' shall be replaced by the words"article 3, 27 ° and Sections I, II and IV of book II, title III, chapter IV of the Act of April 25, 2014".
Section III. -Amendment of the law of January 2, 1991 on public debt market and the instruments of monetary policy article 32. in article 13, § 2, 1 ° of the law of January 2, 1991 on public debt market and the instruments of monetary policy, amended by the law of 15 December 2004, the words "by the law of 22 March 1993 on the status and control of credit institutions"; are replaced by the words "by the law of April 25, 2014 on the status and control of credit institutions";.
Section IV. -Amendments of Act of 4 August 1992 on mortgage credit art. 33. in article 43bis of the law of 4 August 1992 on mortgage credit, inserted by the Act of February 11, 1994 and amended by the royal decree of 25 March 2003, the following changes are made: 1 ° in the § 1, paragraph 2, the words "in accordance with articles 65 and 66 of the law of 22 March 1993 on the status and control of credit institutions "shall be replaced by the words"pursuant to articles 312 and 313 of the Act of April 25, 2014 on the status and control of credit institutions";
2 ° to § 2, the words 'referred to in article 78 of the law of 22 March 1993 on the status and control of credit institutions' shall be replaced by the words "subject to article 332 Act of April 25, 2014 on the status and control of credit institutions,";
3 ° to § 3, paragraph 2, the words 'without prejudice to article 75, § 4 of the law of 22 March 1993 on status and control of credit institutions' shall be replaced by the words "without prejudice to article 329, § 6 of the law of April 25, 2014 on the status and control of credit institutions".
Section V. - Amendments to the law of 11 January

1993 on the prevention of the use of the financial system for the purpose of laundering of capital and financing of terrorism article 34. in article 2, Act of 11 January 1993 on the prevention of the use of the financial system for the purpose of laundering of capital and financing of terrorism, replaced by the Act of January 18, 2010, the following changes are made: 1 ° in the § 1, 4 ° is replaced by the following: "4 ° of Belgian credit institutions referred to in book II of the Act of April 25, 2014 on the status and control
of credit institutions, branches in Belgium of credit institutions governed by the law of another country of the European economic area, referred to in article 312 of the Act and the branches of credit institutions governed by the law of countries that are not part of the European economic area, referred to in section 333 of the Act; ";
2 ° in § 2, amended by the Act of January 18, 2010, the words "(visée à l'article 3, § 2, 2) to 12) and 14), of Act of 22 March 1993 on the status and control of credit institutions," are replaced by the words "(visée à l'article 4, 2) to 12) and 14), of the Act of April 25, 2014 the status and control of credit institutions" ,".
Section VI. -Amendments to the law of 27 March 1995 on insurance and reinsurance intermediation and the distribution of insurance s. 35. in article 10, paragraph 1, 3 °, of the law of 27 March 1995 on insurance and reinsurance intermediation and the distribution of insurance, as amended by the law of April 6, 2010, the words "provided for in article 19 of the law of 22 March 1993 on the status and control of credit institutions."
are replaced by the words 'provided for in article 20 of the Act of April 25, 2014 to the status and control of credit institutions.'.
S. 36. in article 10A, paragraph 1, 1 °, of the Act, as amended by the law of April 6, 2010, the words 'listed in article 19 of the law of 22 March 1993 on the status and control of credit institutions' shall be replaced by the words "listed in article 20 of the Act of April 25, 2014 to the status and control of credit institutions ,".
Section VII. -Amendments of Act of 6 April 1995 on the status and control of investment firms article 37. in article 45, § 1, of Act of 6 April 1995 on the status and control of investment firms, amended by the royal decree of 27 April 2007, the following changes are made: 1 ° to 1 °, the words "under titles II to IV of Act of 22 March 1993 on the status and control of credit institutions;" are replaced by the words "book II with titles I and II of Book III of the" April 25, 2014 Act on the status and control of credit institutions; ";
2 ° to 10 °, the words "within the meaning of the law of 22 March 1993"; are replaced by the words "within the meaning of the Act of April 25, 2014";
3 ° to 12 °, the words "within the meaning of the law of 22 March 1993"; are replaced by the words "within the meaning of the Act of April 25, 2014";.
S. 38. in article 46 of the Act, as last amended by the royal decree of 12 November 2013, the following changes are made: 1 ° to 20 °, the words "in titles II to IV of Act of 22 March 1993 on the status and control of credit institutions;" are replaced by the words "book II with titles I and II of Book III of the Act of April 25, 2014 relating to the status and to the" control credit institutions";
2 ° to 29 °, the words "referred to in article 3, § 1, 5 °, paragraph 1 of the law of 22 March 1993 on the status and control of credit institutions;" shall be replaced by the words "referred to in article 42, 3 °, of status and control of credit institutions act of April 25, 2014;";
3 ° is added a 48 ° as follows: "48 ° by independent control function: the function of internal audit, the compliance function or the function of managing the risks respectively referred to in paragraph 2, 3 or 4 of article 62, § § 3 3".
S. 39. article 49bis, paragraph 1, 3 °, of the same Act, inserted by stopped royal March 3, 2011, is replaced by the following: "3 ° the professional integrity of the persons to be members of the legal Board of the stockbroking company, of the Committee of management or, in the absence of Management Committee, called persons to be responsible for the effective management" , as well as people called to be responsible for the independent control functions, if these persons are proposed for the first time for such a function in a financial company controlled by the Bank pursuant to article 36/2 of the law of 22 February 1998. "."
S. 40. in article 60 of the same Act, amended last by stops it royal March 3, 2011, the following changes are made: 1 ° 1st paragraph is replaced by the following: "article 60 § 1/1. Members of the legal governing body of investment firms, persons responsible for the effective management, where applicable the members of the Executive Committee, as well as officials of the independent control functions are only natural persons.
The persons referred to in paragraph 1 must have permanently the professional repute and expertise appropriate to the exercise of their function.
§ 1/2. The effective management of the investment firms should be entrusted to two persons at least.
§ 1/3. The supervisory authority refuses the approval if it is not satisfied that the persons who will effectively direct the activity of the investment firm enjoy a professional repute and sufficient expertise or if there are objective and demonstrable grounds for believing that the proposed change in direction could jeopardize the sound and prudent management of the investment firm. ";
2 ° to § 2, the words "defined in the § 1" are replaced by the words "defined in the § 1/1 to § 1/3".
S. 41. article 61 of the Act, as amended by the law of April 6, 2010, is replaced by the following: article 20 of the Act of April 25, 2014 to the status and control of credit institutions ' application.".
S. (42. in article 67, paragraph 3, subparagraph 2, b), of the same Act, replaced by the Act of July 31, 2009, "the reputation and the experience" shall be replaced by the words "the integrity and expertise".
S. 43 article 69A of the Act, last amended by stopped royal March 3, 2011, is replaced by the following: 'article 69A. § 1. Investment firms shall previously inform the supervisory authority of the proposal for the appointment of members of the legal Board of Directors and the members of the Committee of management or, in the absence of Management Committee, of those responsible for the effective management, as well as officials of the independent control functions.
In the context of the information required under paragraph 1, investment firms shall inform the supervisory authority all documents and information to assess if the persons whose appointment is proposed have the required professional repute and the appropriate expertise in the performance of their duties in accordance with article 60.
Paragraph 1 is also applicable to the proposal for renewal of the appointment of persons who are covered as well as the non-renewal of appointment, dismissal or resignation.
§ 2. The appointment of the persons referred to in paragraph 1 is subject to the prior approval of the supervisory authority.
When it comes to the appointment of a person who is proposed for the first time to a function referred to in paragraph 1 in a facility under the control of one of the supervisory authorities, the first authority above control previously shall consult the other supervisory authority.
Another supervisory authority shall communicate its opinion to the first supervisory authority within a period of one week from the receipt of the request for an opinion.
§ 3. Investment firms shall inform the supervisory authority of the possible distribution of the tasks between members of the legal administration and the persons responsible for the effective management, applicable between the members of the Executive Committee.
Significant changes in the distribution of the tasks referred to in paragraph 1 give rise to the application of paragraphs 1 and 2. "."
S. 44. in article 83 of the Act, replaced by the royal decree of 27 April 2007 and amended by the royal decree of March 3, 2011, the following changes are made: 1 ° to paragraph 1, paragraph 2, 4 is replaced by the following: "4 ° the name of the actual leaders of the branch and, where appropriate, its leaders of independent control functions";
2 ° a 1/1 paragraph worded as follows is added: "§ 1/1." Senior managers of the branch as well as the independent control functions of the branch managers must have at all times the required professional repute and expertise appropriate to the exercise of their function.
Article 69A is applicable by analogy to the appointment of senior managers of the branch and, where appropriate, of its officials of independent control functions. "."
S. 45. in section 95 of the Act, as last amended by the royal decree of 12 November 2013, the following changes are made: 1 ° to paragraph 1, paragraph 2,

the words "of article 49 of the law of 22 March 1993 on the status and control of credit institutions' are replaced by the words" Sections Ire, II and IV of book II, title III, chapter IV of the Act of April 25, 2014 to the status and control of credit institutions.';
2 ° in paragraph 5, paragraph 3, b), the words "measures and" shall be inserted between the words "those of" and "penalties".
S. 46. in article 95bis, § 1, of the Act, inserted by the law of 20 June 2005, the following changes are made: 1 ° to 3 °, amended by the Act of February 16, 2009 and the royal decree of 12 November 2013, the words "as defined in article 1, paragraph 2, of the law of 22 March 1993 on status and control of credit institutions ' "are replaced by the words" as defined in article 1, § 3, of the Act of April 25, 2014 the status and control of credit institutions, ";
2 ° to 4 °, a), as amended by the law of 15 May 2007, the words "within the meaning of article 3, § 1, 5 °, of the law of 22 March 1993," are replaced by the words "within the meaning of article 3, 41 °, of the law of April 25, 2014";
3 ° to 6 °, amended by the Act of February 16, 2009, "in article 49 of the law of 22 March 1993' shall be replaced by the words" in article 3, § 1, 26 ° and the Ire Sections II and IV of book II, title III, chapter IV of the Act of April 25, 2014, ".
S. 47. in section 96 of the Act, amended by the law of 15 May 2007 and the royal decree of 3 March 2011, "in article 52 of the law of 22 March 1993 on the status and control of credit institutions' shall be replaced by the words"in article 222 of the status and control of credit institutions act".
S. 48. in article 100, paragraph 3 of the same law, 'referred to in article 52, paragraph 1 of Act of 22 March 1993 on the status and control of credit institutions' shall be replaced by the words "referred to article 222, paragraph 1 of the law of April 25, 2014 on the status and control of credit institutions".
S. 49. in the same Act, the title of chapter IV, book II, title II is replaced by the following: "Radiation of the approval, periodic penalty payments, exceptional administrative measures and sanctions".
S. (50. in article 137, paragraph 1, 3 °, c) of the Act, the words "under the law of 22 March 1993 on the status and control of credit institutions" are replaced by the words "under the Act of April 25, 2014 to the status and control of credit institutions.'.
S. 51. in article 139, paragraph 2, as amended by law of December 21, 2009, the following changes are made: 1 ° 'experience' shall be replaced by the words "expertise";
2 ° "article 19 of the law of 22 March 1993 on the status and control of credit institutions" shall be replaced by the words 'article 20 of the Act of April 25, 2014 to the status and control of credit institutions.'.
S. 52. in article 152, paragraph 1 of the Act, "agents or Commissioners revisers" approved of investment firms shall be replaced by the words ' agents, leaders of independent control functions"or Commissioners approved of investment firms.
S. 53. article 170 of the Act is repealed.
Section VIII. -Amendments to the law of 22 February 1998 establishing the Organic Statute of the National Bank of Belgium art. 54. in article 4 of the law of 22 February 1998 establishing the Organic Statute of the National Bank of Belgium, as last amended by the royal decree of December 7, 2007, the following changes are made: 1 ° in the first paragraph, the words ", in bearer form" shall be deleted;
2 ° the second paragraph is repealed.
S. 55. in article 12bis of the Act, inserted by the royal decree of 3 March 2011, paragraph 1 is supplemented by the words "as well as to the European rules governing the single supervisory mechanism".
S. 56. in the same Act, inserted an article 12ter as follows: "article 12B. § 1. The Bank performs the tasks of the authority resolution authority to apply resolution instruments and exercise the powers of resolution in accordance with the Act of April 25, 2014 the status and control of credit institutions.
§ 2. Operating expenses that relate to the mission referred to in paragraph 1 shall be borne by institutions that are subject to the legislation referred to in paragraph 1, under the terms laid down by the King.
§ 3. The provisions of article 12bis, paragraph 3 shall apply as regards the task referred to in this article. In particular, the existence of gross negligence must be assessed taking into account the concrete circumstances of the case of species, including the urgency which were faced by these persons, practices of financial markets, the complexity of the case, threats on the protection of savings and the risk of damage to the national economy. "."
S. 57. in article 17 of the Act, as amended by the royal decree of 3 March 2011, the words "and the Commission sanctions." are replaced by the words ", the sanction Commission and the College of resolution.".
S. 58. in article 18.1 of the Act, the words "and the Council of Regency" are replaced by the words ", the Council of Regency and the College of resolution".
S. 59. in the same Act, it is inserted an article 21B as follows: "article
21B. § 1. A resolution College which is the competent body for the purposes referred to in article 12B missions shall be established within the Bank.
§ 2. The College of resolution consists of the following persons: 1 ° the Governor;
2 ° the Vice Governor;
3 ° the Director in charge of the Department in charge of the prudential supervision of banks and stockbroking companies;
4 ° the Director in charge of the Department in charge of prudential policy and financial stability;
5 ° the Director appointed by the Bank as head of the resolution of credit institutions;
6 ° the President of the authority of the financial services and markets;
7 ° the president of the Board of Directors of the federal public Service Finance;
8 ° the supervising official of the resolution Fund;
9 ° 4 members appointed by the King by Decree deliberated in the Council of Ministers; and 10 ° a magistrate appointed by the King.
§
3. The persons referred to in paragraph 2, first subparagraph, 9 °, are named according to their particular skills in banking and financial analysis.
The persons referred to in paragraph 2, paragraph 1, 9 ° and 10 °, are appointed for a renewable term of 4 years.
They may be relieved of their duties by the authorities who have appointed them if they no longer fulfil the conditions required for the performance of their duties or if they have committed a serious offence.
§ 4. The King shall, by Decree deliberated in the Council of Ministers: 1 ° the organisation and functioning of the College of resolution and the services responsible for preparing its work;
2 ° the conditions under which the resolution College exchanges information with third parties, including other bodies and services of the Bank; and 3 ° measures to prevent any conflict of interest between the College of resolution and other bodies and services of the Bank.
§ 5. In the event of infringement of the provisions of book II, title IV and VIII of the Act of April 25, 2014 to the status and control of credit institutions and the measures taken in pursuance thereof, College of resolution overrides the Steering Committee for the purposes of the application of section 3 of chapter IV/1 of this Act. "."
S. 60. in article 22 of the Act, the following amendments are made: 1 ° to point 1, the words ", monitoring missions referred to in article 12 bis and the tasks referred to in chapter IV/3" shall be inserted between the words "except as regards missions and operations of the ESCB 'and the words', the Minister of finance through his representative";
2 ° to point 2, the words ", monitoring missions referred to in article 12 bis and the tasks referred to in chapter IV/3" shall be inserted between the words "except as regards the tasks and operations of the ESCB 'and the words', he oversees the operations of the Bank".
S. 61. in article 25 of the same Act, as amended by the law of March 27, 2006 and by the royal decree of March 3, 2011, 'member of the sanction Commission' shall be replaced by the words "member of the sanction Commission, Member of the College of resolution".
S. 62. in article 26, § 2, of the Act, replaced by the royal decree of 3 March 2011, the words ", the members of the College of resolution" are inserted between the words "The Regent" and the words "and the majority of the censors".
S. 63. in article 36/1 of the Act, inserted by the royal decree of March 3, 2011, the following changes are made: 1 ° to the point 3, the words "under titles II to IV of Act of 22 March 1993 on the status and control of credit institutions;" are replaced by the words "in book II and in titles I and II of Book III of the Act of April 25, 2014 on the status and control
credit institutions; ";
2 ° 19 °, 20 ° and 21 ° points introduced by the royal decree of 12 November 2013 are renumbered points 20 °, 21 ° and 22 °.
S. 64. in article 36/3, § 2, paragraph 1 of the same Act inserted by the royal decree of 3 March 2011, "with the exception of the credit institutions' shall be inserted between the words"referred to in article 36/2"

and the words "those who must be considered to be systemic".
S. 65. in the same Act, article 36/6, inserted by the royal decree of 3 March 2011, including the current text will form the 1st paragraph, is supplemented by a paragraph 2 as follows: "§ § 2 2" The Bank provides on its website the following information: 1 ° in addition to the legislation on the status and control of credit institutions, as well as the orders, regulations and circulars taken in execution or application of this legislation or the regulations of the law of the European Union, an array of transposition of the provisions of the European directives relating to prudential supervision of credit institutions indicating the options selected;
2 ° the audit criteria and the methods that it uses to carry out the assessment referred to in article 142 of the Act of April 25, 2014 to the status and control of credit institutions;
3 ° of statistical data aggregated on the main aspects related to the application of the legislation referred to in 1 °;
4 ° any other information prescribed by the orders and regulations made pursuant to this Act.
The information referred to in paragraph 1 shall be published according to the guidelines established by the European Commission. The Bank shall regularly update the information provided on its website.
The Bank publishes also all other information required pursuant to the applicable law of the European Union acts in the field of the control of credit institutions. '. "
S. 66. at article 36/8 of the same Act, inserted by the royal decree of March 3, 2011, the following changes are made: 1 ° in the § 1, the words "and penalties" are repealed;
2 ° in the § 2, 3 °, in the french text, the words "members nor the Court of cassation, nor the Court of appeal of Brussels;" shall be replaced by the words "being Adviser to the Court of cassation, or to the Court of appeal of Brussels;";
3 ° in § 4, the words "or the College of Bank resolution," shall be inserted between the words "of the Bank's Management Committee", and the words "or of the staff of the Bank;";
4 ° in § 5, the phrase "failing renewal, members shall remain in office until the first meeting of the Commission of sanctions in its new composition." is inserted after the sentence: "the mandate of the members of the sanction Commission is six years, renewable.".
S. 67. in the same Act, the title of section 3 of chapter IV/1, inserted by the royal decree of 3 March 2011, is replaced by the following heading: 'Rules of procedure for the imposition of administrative fines'.
S.
68. in article 36/9 of the same Act, inserted by the royal decree of March 3, 2011, the following changes are made: 1 ° in the § 1, the words "or a penalty payment" are repealed;
(2) there is inserted a § 1/1 as follows: "§ 1/1."
Notwithstanding the § 1, paragraph 3, the auditor has the power to summon and hear any person, according to the rules defined below.
The summons to a hearing takes place either by simple notification, by registered mail, or by usher feat.
Any person summoned pursuant to paragraph 1 is required to appear.
At the hearing of people, heard in any capacity whatsoever, the auditor will meet at least the following rules: 1 ° at the beginning of any hearing, it is communicated to the person questioned: has) that it can ask all the questions that are asked and the answers she gives are recorded in the terms used.
(b) it may request that it be carried out such act of instruction or such hearing;
(c) that his statements can be used as evidence in court;
2 ° any interviewee can use the documents in his possession, although this may entail the postponement of the hearing. It may, at the hearing or later, require that these documents should be attached to the minutes of hearing;
3 ° at the end of the hearing, the minutes is given by reading the interviewee, unless it requests that reading him is made. Is asked if his statements should not be corrected or supplemented;
4 ° If the interviewee wishes to speak in a language other than that of the procedure, either his statements are noted in its language, is asked noted itself his statement;
5 ° the interviewee is aware of what it can obtain free of charge a copy of the text of his hearing, which, where appropriate, it was delivered or sent immediately or in the months. "."
S. 69. in article 36/10, § 4 of the Act, inserted by the royal decree of March 3, 2011, the sentence "If the Executive Committee considers that grievances may give rise to the imposition of a penalty payment, it actually explicitly mention." is repealed.
S.
70. in article 36/11 of the same Act, inserted by the royal decree of March 3, 2011, the following changes are made: 1 ° in the § 1, the sentence "If the notification made by the Steering Committee mention that grievances may give rise to the imposition of a penalty payment, this period is reduced to eight days." is repealed;
2 ° to the § 1, "may extend these time limits" shall be replaced by the words "may extend the time limit";
3 ° to § 3, the words "or periodic penalty payments" are repealed;
4 ° to § 3, in the Dutch text, the words "in na overleg met listener," are replaced by the words "in auditor na te hebben gehoord,";
5 ° in § 4, the words 'The amount of the fine or periodic penalty payments' shall be replaced by the words "unless additional criteria or different fixed by special laws, the amount of the fine";
6 ° paragraph 6, paragraph 1 is replaced by the following: "the sanction Commission makes its public decisions of p.p.e. on the internet site of the Bank for a period of at least five years, unless publication might jeopardize the stability of the system financial investigation or criminal proceedings in progress or cause damage disproportionate to the persons concerned or the institutions to which they belong" in which case the decision is published on the internet site of the Bank for non p.p.e.. In case of appeal against the decision of sanction, it is published for non p.p.e. pending the outcome of the review procedures. "."
S. 71. in article 36/12 of the same Act, inserted by the royal decree of 3 March 2011, the words "and penalties" are repealed.
S. 72. in the Act, it is inserted a section 1-12-36 as follows: "article 12-36-1. § 1.
Without prejudice to other measures provided for in this Act, the Bank may when it finds an infringement of article 36/9, § 1/1, paragraph 3 of this Act, impose on the offender an administrative fine which may not be less than 2,500 euros or more, for the same offence or the same set of facts, 2.500.000 euro § 2. Fines imposed in accordance with paragraph 1 shall be recovered for the benefit of the Treasury by the administration of the Cadastre, registration and domains. "."
S. 73. in chapter IV/1 of the Act, it is inserted a section 3bis which the title reads as follows: "of periodic penalty payments imposed by the Bank".
S. 74. in section 3A inserted in the Act by section 73, inserted a section 2-12-36 as follows: "article 12-36-2. § 1.
The Bank may require any person to comply with article 36/9, § 1/1, paragraph (3) of this Act, within the time limit which it shall determine.
If the person to which it has addressed an injunction pursuant to the paragraph 1 remains in default upon the expiry of the time allowed him, the Bank may, the person who could present its case, impose the payment of a penalty that cannot be, per day schedule, less than 250 euros or more than EUR 50 000, or in total, exceed EUR 2 000.
§ 2. Periodic penalty payments imposed pursuant to paragraph 1 shall be recovered for the benefit of the Treasury by the administration of the Cadastre, registration and domains. "."
S. 75. in section 3A inserted in the Act by section 73, inserted a section 3-12-36 as follows: "article 12-36-3.
When a penalty is imposed by the Bank under this Act or other legal or regulatory provisions, and as long as the person to which it has been imposed did not comply with the underlying the imposition of this penalty payment obligation, the Bank can make public its decision of imposition of the penalty of p.p.e. on his website. "."
S. 76. in article 36/14, § 1, of the Act, inserted by the royal decree of 3 March 2011 and amended by the acts of 28 July 2011 and November 27, 2012, the following changes are made: 1 ° in 1 °, paragraph 2, the words "within the meaning of article 49, §§ 5A and 5b of the law of 22 March 1993 on the status and control of credit institutions' shall be replaced by the words"within the meaning of article 3 (, 66 ° of the Act of April 25, 2014 on the status and control of credit institutions";
2 ° 2 ° is supplemented by the words: ", including the European Central Bank with regard to the missions entrusted by the Regulation (EU) No. 1024/2013 Council October 15, 2013, entrusting the ECB specific tasks relating to the prudential supervision of credit institutions policies".
3 ° is added an 18 ° as follows: "18 ° to the authorities under the law of Member States

European Union competent in the area of macro-prudential oversight as well as the European systemic risk Board established by Regulation (EU) no 1092/2010 of the European Parliament and of the Council of November 24, 2010; ";
4 ° is added a 19 ° as follows: "19 ° within the limits of the regulations and directives Europeans to the European authority of financial markets, the European insurance and occupational pensions authority and the European banking authority;".
S.
77. in article 36/21, paragraph 1 of the same Act, inserted by the royal decree of March 3, 2011, the words "a penalty payment or" are repealed.
S. 78. in article 36/24 of the same Act, inserted by the royal decree of March 3, 2011, the following changes are made: 1 ° in the § 1, paragraph 1, 1 °, the words "in the law of 22 March 1993 on the status and control of credit institutions" are replaced by the words "to the Act of April 25, 2014 the status and control of credit institutions";
2 ° to § 2, the words "article 13, paragraph 4, of the law of 22 March 1993 on the status and control of credit institutions" shall be replaced by the words "article 14, paragraph 2, of the Act of April 25, 2014 to the status and control of credit institutions".
S. 79. in article 36/26, § 7, paragraph 1, of the Act, inserted by the royal decree of March 3, 2011, in the Dutch version, the words "operationele beheer van in § 1 bedoelde diensten van vereffeningsinstellingen" are replaced by the words "operationele beheer van diensten van vereffeningsinstellingen als bedoeld in § 1".
Section IX. -Amendments of Act of 2 August 2002 on the supervision of the financial sector and financial services s. 80. in article 2, paragraph 1, of Act of 2 August 2002 on the supervision of the financial sector and financial services, as last amended by the Act of July 30, 2013, the following changes are made: 1 ° to 10 °, a), the words "in article 13 of the law of 22 March 1993 on the status and control of credit institutions'; are replaced by the words"in article 14 of the law of 25 April 2014 relating to the status and control of credit institutions; ";
2 ° to 10 °, b), the words "in article 65 or 66" are replaced by the words "in article 312 or 313";
3 ° to 10 ° c), the words "in article 79" are replaced by the words "in article 333";
4 ° and 34 °, the words "referred to in titles II to IV of Act of 22 March 1993 on the status and control credit institutions;"
are replaced by the words "referred to book II with titles I and II of Book III of the Act of April 25, 2014 on the status and control of credit institutions;";
5 ° 41 ° is replaced by the following: "41 °"the Act of April 25, 2014": the Act of April 25, 2014 the status and control of credit institutions;".
S. 81. article 17, § 1, 4 °, of the same Act, replaced by the royal decree of 27 April 2007, is replaced by the following: "4 ° individuals who are members of the legal governing body and those who provide the direction effective of the company and the group, if any, part are only natural persons. They possess the required professional repute and appropriate to the exercise of their function expertise; "."
S. 82. article 17 bis of the same Act, inserted by the royal decree of 27 April 2007 and amended by the royal decree of 3 March 2011, is replaced by the following: 'article 17A. market companies inform previously the FSMA by the proposal of appointment of members of the legal Board of Directors and persons responsible for the effective management of the enterprise market or the group it has, where appropriate, part.
In the context of the information required under paragraph 1, the market undertakings shall notify to the FSMA all documents and information to assess if the persons whose appointment is proposed have the required professional repute and the appropriate expertise in the performance of their duties in accordance with article 17, 4 °.
Paragraph 1 is also applicable to the proposal for renewal of the appointment of persons who are covered as well as the non-renewal of appointment, dismissal or resignation.
The appointment of the persons referred to in paragraph 1 is subject to the prior approval of the FSMA.
Market undertakings shall inform the FSMA for the possible distribution of tasks between members of the legal administration organ and the persons responsible for the effective management of the enterprise market or the group it has, where appropriate, party, as well as significant changes have occurred in this distribution tasks. "."
S. 83. in article 27, § 6, fourth indent, of the Act, as amended by the royal decree of 27 April 2007, the words 'article 20A, § 2, of the law of 22 March 1993 on status and control of credit institutions' shall be replaced by the words "article 42 of the Act of April 25, 2014".
S. (84. in article 45, § 1, 3 ° f), of the Act, as last amended by the royal decree of March 3, 2011, the words "articles 20 and 20bis of the law of 22 March 1993 on status and control of credit institutions ', shall be replaced by the words"articles 21, 41, 42, 64 and 65, as well as article 66 with regard to the provision of investment services and the exercise of investment activities , of the Act of April 25, 2014 ".
S. 85. article 139 of the Act is repealed.
Section x. - Changes of Act of 22 March 2006 on intermediation in banking and investment services and the distribution of financial instruments art.
(86. in article 4 of the law of 22 March 2006 on intermediation in banking and investment services and the distribution of financial instruments, the following changes are made: 1 ° to 1 °, a), the words "(àle sens de l'article 3, § 2, 1), of the Bank Act;" are replaced by "(àle sens de l'article 4, 1), of the Banking Act;";
2 ° to 5 °, the words "in article 1, paragraph 2, of the Banking Act," shall be replaced by the words "in article 1, § 3, of the banking law";
3 ° 7 ° is replaced by the following: "7 °"banking law": the Act of April 25, 2014 the status and control of credit institutions;".
S. 87. in article 8, paragraph 1, of the Act 4 is replaced by the following: "4 ° do not find themselves in one of the cases listed in article 20 of the Banking Act;".
S. 88. in section 9 of the Act, the following amendments are made: 1 ° to 1 °, amended by the law of April 6, 2010, the words "listed in article 19 of the Bank Act" are replaced by the words "listed in article 20 of the banking law";
2 ° to 2 °, the words "within the meaning of article 3, § 1, 2 °, of the banking law," shall be replaced by the words "within the meaning of article 27, 3 °, of the Banking Act".
S.
89. in article 10, § 1, paragraph 3, of the Act, the words "(àle sens de l'article 3, § 2, 2) and 3) of the Banking Act" are replaced by the words "(àle sens de l'article 4, 2) and 3) of the Banking Act.".
S. 90. in article 12 of the Act, the following amendments are made: 1 paragraph 1 °, 2 °, the words "(visées à l'article 3, § 2, 4), 5) and 7) at 14), of the banking law," are replaced by "(àle sens de l'article 4, 4), 5) and 7) at 14), of the banking law,";
2 ° in paragraph 2, 2 °, paragraph 2, the words "(within the meaning of article 3, § 2, 2)(, 3) and 6) of the Banking Act;" shall be replaced by the words "(àle sens de l'article 4, 2), 3) and 6), of the Bank Act;".
Section XI. -Changes of the Act of 16 June 2006 on public offers of investment instruments and admission of investment instruments to trading on regulated markets article (91. in article 56, paragraph 1, Act of 16 June 2006 on public offers of investment instruments and admission of instruments trading on markets investment regulated, amended by the Act of July 17, 2013, the following changes are made: 1 ° to b), the words "referred to in article 13 of the law of 22 March 1993 on the status and control of credit institutions "shall be replaced by the words"referred to in article 14 of the Act of April 25, 2014 to the status and control of credit institutions";
2 ° c), the words "in accordance with article 65 of the law of 22 March 1993'; are replaced by the words"in accordance with article 312 of the Act of April 25, 2014;";
3 ° to d), the words "in accordance with article 66 of the law of 22 March 1993";
are replaced by the words "in accordance with section 313 of the Act of April 25, 2014";.
S.
92. in section 68bis, 1st paragraph, inserted by the royal decree of 3 March 2011 and amended by the Act of July 17, 2013, of the Act, the following amendments are made: 1 ° to 1 °, "under article 13, section 65 or section 66 of Act of 22 March 1993 on the status and control of credit institutions;" shall be replaced by the words "under article 14 article 312 or article 313, status and control of credit institutions act of April 25, 2014; ";
2 ° to 5 °, the words 'referred to in article 2, 2 ° of the law of 22 March 1993 on the status and control of credit institutions' shall be replaced by the words "referred to in article 2, 2 ° of the Act of April 25, 2014 on the status and control of credit institutions".
S. 93. articles 74 to 76 of the Act are repealed.

S.
94. article 3, § 5, of the Act, as amended by the Act of July 17, 2013, "the threshold of 5,000 euros" shall be replaced by the words "the thresholds of 300,000 euros and 5,000 euros.".
S.
95. section 18 of the Act, amended by the Act of July 17, 2013 and the royal decree of March 3, 2011, the following changes are made: 1 ° in the § 1, a) is replaced by the following: 'a) shares of cooperative societies recognized under article 5 of the law of July 20, 1955, establishing a national Council for co-operation , provided that: (1) total supply is lower than 5.000 euro;
(2) the maximum amount that can be purchased under the offer, for what concerns the cooperatives whose goal is to provide partners an economic or social benefit in their private needs or limited in a way that at the end of this offer, no cooperator who is subscribed to the offer does have shares of the cooperative for a nominal value greater than 5.000 euro;
(3) all documents pertaining to the bid mention total, as well as, if applicable, the threshold by investor;"
(2 ° in the § 1, the i) is replaced by the following: "i) the transferable securities offered to workers in execution of plans of participation covered by the law of 22 May 2001 on the schemes of participation of workers in the capital and corporate profits, provided that the total amount of the offer is less than 5,000 euros and provided that all documents pertaining to the bid mention the total thereof;";
(3 ° the § 1 is supplemented by the j) as follows: "j) investment instruments, with the exception of instruments of investment referred to in article 4, § 1, 2 ° to 9 °, provided that each investor can response to the public offer for a maximum of 1,000 euros, that the total amount of the offer is less than 300,000 euros and that all documents pertaining to the bid mention the total thereof" , as well as the maximum Investor investment. ";
4 ° § 3 is supplemented by a paragraph worded as follows: "(L'offrant qui se base sur le § 1er, a) (, i) (or j, i) (or j), are fulfilled. ';
5 ° article is supplemented by a § 5 worded as follows: "§ § 5 5" The King may, by royal decree deliberated in the Council of Ministers, taken on the advice of the FSMA, modify one or more thresholds expressed in euro provided in the § 1 or provide different thresholds depending on the nature or the activities of the issuer or the nature of the investment instruments, and adapt accordingly the references to the amounts of these thresholds in article 3 , § 5. For minors not emancipated, the King may provide a lower amount to the amount per target investor to the § 1, a). "."
S.
96. article 55, paragraph 2, of the Act, replaced by the Act of July 17, 2013, is complemented by a 3 ° as follows: "(3° àles offres publiques d'instruments de placement en application de l'article 18, § 1er, j).".
S. 97. article 60, § 1, of the Act, as amended by the royal decree of 3 March 2011, is supplemented by a paragraph worded as follows: "the FSMA may determine the modalities and procedures under which approval of the documents referred to in paragraph 1 may be carried out. The FSMA takes account, to this end, the nature and the content of these documents, holding as its standardized and recurring documents and the media used criteria. "."
Section XII. -Amendments to the law of 27 October 2006 on the supervision of institutions for retirement provision professional art. 98. article 24 of the Act of 27 October 2006 on the control of institutions for occupational retirement provision is replaced by the following: "members of the operational bodies of the pension funding organization shall have permanent professional repute and expertise appropriate to the exercise of their function. This expertise is assessed particularly with regard to the duties performed and to the extent where appealed to advisers with this expertise. "."
S. 99. article 25 of the Act, as amended by the law of April 6, 2010, is replaced by the following: 'article 25. article 20 of the Act of April 25, 2014 to the status and control of credit institutions shall apply. "."
Section XIII. -Changes to the takeover article Act of April 1, 2007
100. in article 10, § 1, of the takeover Act of April 1, 2007, the following changes are made: 1 ° to 2 °, the words 'provided for in article 13 of the law of 22 March 1993 on the status and control of credit institutions' shall be replaced by the words "under article 14 of the Act of April 25, 2014 to the status and control of credit institutions ,";
2 ° to 3 °, the words "in accordance with article 65 of the law of 22 March 1993 supra'; are replaced by the words"in accordance with article 312 of the aforementioned Act of April 25, 2014; ";
3 ° and 4 ° the words "in accordance with article 66 of the law of 22 March 1993 supra'; are replaced by the words"in accordance with section 313 of the Act of April 25, 2014";.
Section XIV. -Amendment of the law of May 2, 2007 on the disclosure of shareholdings in issuers whose shares are admitted to trading on a regulated market provisions various arts. 101. in article 10, § 4, of the law of May 2, 2007 on the disclosure of shareholdings in issuers whose shares are admitted to trading on a regulated market various provisions, the words "within the meaning of article 3, § 1, 4 °, of the law of 22 March 1993 on status and control of credit institutions ' "are replaced by the words" within the meaning of article 4, paragraph 1, 86 °, of Regulation No. 575/2013 of the European Parliament and of the Council of June 26, 2013 on prudential requirements for credit institutions and investment firms and amending Regulation No. 648/2012, ".
Section XV. -Amendment of the law of January 31, 2009 on the continuity of enterprises s. 102. in article 4, paragraph 2, of Act of January 31, 2009 on the continuity of enterprises, as amended by the Act of June 2, 2010, the words "and to reinsurance undertakings" shall be replaced by the words ", to businesses of reinsurance, financial companies and mixed financial companies".
Section XVI.
-Amendments to the Act of February 16, 2009 on reinsurance article 103. in article 4 of the Act of 16 February 2009 on reinsurance, as last amended by the royal decree of March 3, 2011, the following changes are made: 1 ° to 16 °, a) is replaced by the following: ' a) a credit institution as defined in article 1, § 3 of the law of April 25, 2014 on the status and control of credit institutions ' ((, a financial institution within the meaning of article 42, 3 °, of the Act, or a business ancillary banking services within the meaning of article 89, paragraph 1, b), ii), Regulation No. 575/2013 of the European Parliament and of the Council of June 26, 2013 on prudential requirements for credit institutions and investment firms and amending the Regulation (EU) No. 648/2012; "."
2 ° is added a 23 ° as follows: "23 ° 'independent control function': the internal audit function, the compliance function or the function of managing the risks respectively referred to in paragraph 2, 3 or 4 of article 18, paragraph 3, as well as the actuarial function within the meaning of section 46".
S. 104A article 8A, paragraph 1 of the same Act, inserted by stops it royal March 3, 2011, the words "persons who are called to take part in the administration, management or the effective management of the reinsurance undertaking," are replaced by the words "of the persons to be members of the legal Board of the reinsurance undertaking, by the Executive Committee or" in the absence of Executive Committee, called persons to be charged the actual direction, as well as the persons to be responsible for the independent control functions, "."
S. 105. article 17 of the Act, as amended by the law of April 6, 2010, is replaced by the following: 'article 17 § 1.
Members of the legal governing body of reinsurance undertakings, the persons responsible for the effective management, where applicable the members of the Executive Committee, as well as officials of the independent control functions are only natural persons.
The persons referred to in paragraph 1 must have permanently the professional repute and expertise appropriate to the exercise of their function.
§ 2. Effective management of reinsurance undertakings should be entrusted to two persons at least.

§ 3. Article 20 of the Act of April 25, 2014 to the status and control of credit institutions shall apply. "."
S. 106. in the same law, under Title II, chapter I, Section first, subsection 5, a written 17/1 article is inserted as follows "s.
17/1. § 1. Reinsurance undertakings constituted in the form of joint stock company set up a Steering Committee within the meaning of article 524bis of the Code of corporations exclusively

composed of members of the Governing Council, at which all of the powers of management of the Board of Directors are delegated. However, this delegation cannot wear or on the determination of the policy, or the acts reserved to the Board of directors by the other provisions of the Code of corporations or by this Act.
§ 2. The Board has a majority of directors who are not members of the Executive Committee.
§ 3.
The functions of Chairman of the Board of Directors and Chairman of the Executive Committee are performed by different people.
§ 4. The daily management referred to in article 525 of the Code of corporations may be entrusted to a non-executive member of the Board of Directors. "."
S.
107. in the same Act, it is inserted a section 17/2 as follows: "article 17/2. § 1. Incorporated under a reinsurance company statute another form of Société anonyme shall require the establishment, within the body of legal administration, of a body, exclusively composed of members of the legal administration body, referred to as the "Steering Committee", which are delegated all the powers of management of the body of legal administration excluding the determination of the general policy, acts reserved to the body of legal administration in the Code of corporations or by this Act.
§ 2. The legal Board has a majority of members who are not members of the Management Committee referred to in paragraph 1.

§ 3. The functions of president of the legal Board of Directors and Chairman of the Executive Committee are performed by different people.
§ 4. The daily management, when it is provided for by the Code of corporations for the corporate form concerned, cannot be entrusted to a non-executive member of the statutory governing body. "."
S. 108. in the same Act, it is inserted an article 17/3 as follows: "article 17/3. The Bank may, depending on the size and profile of risks of a reinsurance undertaking, authorize it to waive, in whole or in part, the obligations laid down in articles 17/1 and 17/2.
The derogation may include: 1 ° on the requirement to establish a Steering Committee, without prejudice to respect for article 17, § 2;
2 ° on the composition of the Executive Committee, authorising that are members of persons who are not members of the legal governing body; in this case, articles 17, 25 and 26 are applicable;
3 ° on an overlapping of functions of Chairman of the Committee of management and Chairman of the statutory governing body. "."
S. 109. in article 18, § 5, of the Act, as amended by the royal decree of March 3, 2011, the following changes are made: 1 ° to the paragraph 1, the words "persons responsible for the effective management of the reinsurance undertaking, appropriate Management Committee" are replaced by the words "the Executive Committee or, where appropriate, the persons responsible for the effective management of the reinsurance undertaking ,";
2 ° in paragraph 6, the words "those responsible for the effective management, appropriate Management Committee, make report" are replaced by the words "The Executive Committee or, where appropriate, the persons responsible for the effective management, reported".
S. (110. in article 24, paragraph 3, subparagraph 2, b), of the same Act, replaced by the Act of July 31, 2009, "the reputation and the experience" shall be replaced by the words "the integrity and expertise".
S. 111. article 25 of the Act, as amended by the royal decree of 3 March 2011, is replaced by the following: 'article 25 § 1. Without prejudice to article 18, the members of the Committee of management of the reinsurance undertaking, the legal governing body members and all persons who under any name and in any capacity whatsoever, take part in its administration or management may, in representation of the reinsurance undertaking, exercise warrants administrator or Manager or take part in the administration or management within a corporation or commercial a business of another form of Belgian or foreign or public institution Belgian or foreign law, business industrial, commercial or financial, to the conditions and within the limits laid down in this article.
External functions referred to in paragraph 1 are governed by internal rules that the reinsurance undertaking must adopt and enforce to pursue the following objectives: 1 ° avoid that the performance of these duties by persons involved in the effective management of the reinsurance undertaking shall affect the availability required for the exercise of effective management;
2 ° prevent the occurrence of conflicts of interests as well as the risks involved in the exercise of these functions, especially in terms of insider trading in the head of the reinsurance undertaking;
3 ° ensure appropriate publicity of these functions.
The Bank sets the terms of those obligations by means of a regulation adopted in application of article 12 bis of the law of 22 February 1998.
Corporate officers appointed on presentation of the reinsurance undertaking must be members of the Committee of management of the reinsurance undertaking or individuals designated by the Executive Committee.
The legal governing body members which are not members of the Committee of management of the reinsurance undertaking cannot exercise a mandate in a society in which the reinsurance undertaking holds participation if they do not participate in the day-to-day management of the company.
The members of the Committee of management or, in the absence of Management Committee, people involved in the effective management of the reinsurance undertaking cannot exercise a mandate with a participation in the day-to-day management that if it: 1 ° of a company referred to in article 89, § 1, of the Regulation (EU) No. 575/2013 of the European Parliament and of the Council of June 26, 2013 on prudential requirements for credit institutions and investment firms and amending the Regulation (EU) No. 648/2012, with which the reinsurance undertaking has close links;
(2) an undertaking for investment in debt to statute within the meaning of the law of August 3, 2012 on collective investment undertakings which meet the conditions of directive 2009/65/EC and organizations investment in debt claims or an undertaking for collective investment in statutory form within the meaning of the Act on August 3, 2012 or the Act of April 19, 2014 alternative collective investment undertakings and their managers;

3 ° of an undertaking the business of which is situated in the extension of reinsurance activity;
as part of the normal management of their heritage, 4 ° of a heritage society in which such persons or their families hold a significant interest.
Reinsurance undertakings shall notify without delay to the Bank the duties performed outside the reinsurance undertaking by persons referred to in paragraph 1 for the purposes of the control of compliance with the provisions laid down in this article.
§ 2. In the event of bankruptcy of a reinsurance undertaking, are void and without effect relatively grounded, payments made by this company, either in cash, or otherwise, to its members of the statutory body of Directors as directors or other bonuses, during the two years preceding the time determined by the tribunal as being that of the cessation of payments.
Paragraph 1 does not apply if the tribunal recognizes that no fault serious and characterized these people contributed to the bankruptcy. "."
S. 112. article 26 of the Act, as amended by the royal decree of 3 March 2011, is replaced by the following: 'article 26 § 1. Reinsurance undertakings previously inform the Bank of the proposal for the appointment of members of the legal Board of Directors and the members of the Committee of management or, in the absence of Management Committee of those responsible for the effective management, as well as officials of the independent control functions.
Within the framework of the information required under paragraph 1, reinsurance undertakings shall communicate to the Bank all documents and information to assess whether persons whose appointment is proposed shall have the required professional repute and the appropriate expertise in the performance of their duties in accordance with article 17, § 1.
Paragraph 1 is also applicable to the proposal for renewal of the appointment of persons who are covered as well as the non-renewal of appointment, dismissal or resignation.
§ 2. The appointment of persons to the § 1 is subject to the prior approval of the Bank.
When it comes to the appointment of a person who is proposed for the first time to a target function in the § 1 in a financial company controlled by the Bank pursuant to article 36/2 of the law of 22 February 1998, the Bank consults before the FSMA.
The FSMA communicate its opinion to the Bank within a period of one week from the receipt of the request for an opinion.
§
3. Reinsurance undertakings shall inform the Bank of the possible distribution of the tasks among the members of the legal governing body, among the members of the Committee of management or, in the absence of Executive Committee, between the persons responsible for the effective management.
Changes

important in the distribution of the tasks referred to in paragraph 1 give rise to the application of paragraphs 1 and 2. "."
S. 113. in article 29 of the same Act, as amended by the Act of July 28, 2011, the following changes are made: 1 ° to §§ 1, 2 and 3, the words "the FSMA" are each time replaced by the words 'the Bank';
2 ° to § 3, in the first sentence, the words "the effective management of the reinsurance undertaking, appropriate Management Committee, declares" are replaced by the words "the Committee of management of the reinsurance undertaking or, where appropriate, the persons responsible for the effective management, declares";
3 ° to § 3, in the third sentence, the words "effective management confirms" are replaced by the words "the Committee of management of the reinsurance undertaking or, where appropriate, the persons responsible for the effective management, confirms".
S.
114. article 31 of the Act, as amended by the royal decree of 3 March 2011, is supplemented by a paragraph 3 as follows: "§ § 3 3" The general agent or other persons responsible for the effective management of the branch as well as the independent control functions of the branch leaders must permanently available the professional repute and expertise appropriate to the exercise of their function. Article 26 shall apply mutatis mutandis to the appointment of the general agent or other persons responsible for the effective management of the branch as well as the heads of the independent control functions. "."
S. 115. in article 32, paragraph 1 of the Act, as amended by the royal decree of March 3, 2011, the second sentence beginning with the words "It may also" and ending with the words "of the branch." is replaced by the following sentence: "it can also oppose if it has reason to doubt the professional repute or the expertise of the general agent or" If applicable, the other persons responsible for the effective management of the branch or the independent control functions of the branch managers. "."
S. 116. article 60 of the same Act, amended by the royal decree of 3 March 2011, is supplemented by paragraphs 5 and 6 worded as follows: "§ § 5 5" Article 18 shall apply.
§ 6. Articles 17 and 26 shall apply to the general agent and, where applicable, other persons responsible for the effective management of the branch as well as the independent control functions of the branch managers. "."
S. 117. in the same law, the heading of title VI and the title of chapter I of title VI supra are replaced, respectively, by the title "of the injunctions, fines, administrative penalties and criminal penalties" and the heading "injunctions, fines and administrative penalties".
S.
118. in article 75, paragraph 2, of the Act, the words "laid down in article 19 of the law of 22 March 1993 on the status and control of credit institutions" are replaced by the words "laid down in article 20 of the Act of April 25, 2014 to the status and control of credit institutions".
S. 119. in article 78, paragraph 1, of the Act, as amended by the royal decree of March 3, 2011, the following changes are made: 1 ° 'referred to in article 19 of the law of 22 March 1993 on the status and control of credit institutions' shall be replaced by the words "referred to in article 20 of the Act of April 25, 2014 to the status and control of credit institutions ,";
2 ° "agents or Commissioners approved reinsurance undertakings" shall be replaced by the words "of agents, leaders of independent control functions or Commissioners approved reinsurance undertakings".
S.
120. in article 89, paragraph 3, of the Act, as amended by the royal decree of 3 March 2011, "within the meaning of Act of 22 March 1993 on the status and control of credit institutions', shall be replaced by the words"within the meaning of the Act of April 25, 2014 to the status and control of credit institutions ,".
S. 121. in article 98, § 1, of the Act, the following amendments are made: 1 ° to 3 °, the words "a credit institution as defined in article 1, paragraph 2, of the law of 22 March 1993 on status and control of credit institutions," are replaced by the words "a credit institution as defined in article 1 , § 3, of the Act of April 25, 2014 the status and control of credit institutions, ";
2 ° to 4 °, a), the words "within the meaning of article 3, § 1, 5 °, of the law of 22 March 1993, a company of ancillary banking services within the meaning of article 32, § 4, 5 °, of the same Act;" shall be replaced by the words "within the meaning of article 3, 41 °, of the law of April 25, 2014, an ancillary banking services undertaking within the meaning of article 89 ((, paragraph 1, b), ii) of Regulation n ° 575/2013 of the European Parliament and of the Council of June 26, 2013 on prudential requirements for credit institutions and investment firms and amending the Regulation (EU) No. 648/2012; ";
3 ° to 6 °, the words "in article 49 of the law of 22 March 1993' shall be replaced by the words"article 3, 27 ° and Sections Ire, II and IV of book II, title III, chapter IV of the Act of April 25, 2014".
Section XVII. -Amendments to the law of December 21, 2009 on the status of payment institutions and electronic money institutions, the access to the activity of service provider payment, the activity of issuing electronic money and access to payment Art. systems 122. in section 4 of the Act of December 21, 2009, relating to the status of the payment and establishments of the electronic money institutions, the access to the activity of service provider payment, to the activity of issuing electronic money and access to payment systems, amended by the Act of November 27, 2012, the following changes are made: 1 ° in the 20 ° , the words "as referred to in article 49bis, § 1, 1 °, of the banking law" shall be replaced by the words "as referred to in article 164, § 3, 6 °, of the banking law";
2 ° in the 22 °, the words "the law of 22 March 1993 on the status and control of credit institutions"; are replaced by the words "the Act of April 25, 2014 the status and control of credit institutions";
3 ° it is inserted a 39 ° as follows: "39 ° independent control function: the function of internal audit, the compliance function or the function of management of risks respectively referred to in paragraph 2, 4 or 5 of article 14, § 3 and paragraph 2, 4 or 5 of article 69, § § 3 3".
S. 123. in section 5 of the Act, as amended by the Act of November 27, 2012, 1 is replaced by the following: "1 ° of Belgian credit institutions, credit institutions governed by the law of another Member State of the EEA, authorised to provide payment in their State of origin, and operating in Belgium under sections 312 or 313 of the banking law , as well as branches of credit institutions governed by the law of a non-EEA State, established in Belgium in accordance with article 333 of the Bank Act; "."
S. 124. in article 7, paragraph 1, 8 °, the words "within the meaning of article 3, § 1, 3 °, of the banking law" shall be replaced by the words "within the meaning of article 3, 29 °, of the Banking Act".
S. 125. in article 7A, paragraph 1 of the same Act, inserted by the royal decree of March 3, 2011, the words "persons who are called to take part in the administration, management or the effective management of the payment institution" are replaced by the words "of the persons to be members of the legal Board of the payment institution, of the Executive Committee or" in the absence of Executive Committee, called persons to be charged the actual direction, as well as the persons to be responsible for the independent control functions, "."
S. 126. article 13 of the Act is replaced by the following: 'article 13 § 1. Members of the legal administration of the payment institution, persons responsible for the effective management of the activity of payment services in the establishment of payment, if any members of the Executive Committee, as well as officials of the control functions independent are only natural persons.
The persons referred to in paragraph 1 must have permanently the professional repute and appropriate expertise to assume their duties in the payment service.
§ 2. Effective management of payment institutions should be entrusted to two persons at least.
§
3. Section 20 of the Banking Act shall apply to the persons referred to in paragraph 1. "."
S.
127. it is inserted in the Act an article 16A as follows: "article 16bis. § 1. Payment institutions inform previously the Bank's proposal for the appointment of members of the legal Board of Directors and the members of the Committee of management or, in the absence of Management Committee, of those responsible for the effective management of the activity of payment services in the payment institution, as well as officials of the independent control functions.
Within the framework of the information required under paragraph 1, payment institutions shall communicate to the Bank all documents and information to

to assess whether persons whose appointment is proposed shall have the required professional repute and the appropriate expertise in the performance of their duties in accordance with article 13.
Paragraph 1 is also applicable to the proposal for renewal of the appointment of persons who are covered as well as the non-renewal of appointment, dismissal or resignation.
§ 2. The appointment of the persons referred to in paragraph 1 is subject to the prior approval of the Bank.
When it comes to the appointment of a person who is proposed for the first time to a function referred to in paragraph 1 in a financial company controlled by the Bank pursuant to article 36/2 of the law of 22 February 1998, the Bank consults before the FSMA.
The FSMA communicate its opinion to the Bank within a period of one week from the receipt of the request for an opinion.
§
3. Payment institutions shall inform the Bank of the possible distribution of the tasks between members of the legal administration and the persons responsible for the effective management, applicable between the members of the Executive Committee.
Significant changes in the distribution of the tasks referred to in paragraph 1 give rise to the application of paragraphs 1 and 2. "."
S. 128. in article 19 of the same Act, amended by the royal decree of March 3, 2011, the following changes are made: 1 ° to paragraph 2, the words "and the name of the leaders of the branch" shall be replaced by the words "as well as the name of the actual leaders of the branch and, where appropriate, its leaders of independent control functions";
2 ° a paragraph worded as follows is inserted between paragraphs 2 and 3: "effective leaders of the branch and its officials of independent control functions must have permanently the professional repute and appropriate expertise to assume their duties. Article 16bis shall apply mutatis mutandis to the appointment of senior managers of the branch and, where appropriate, of its officials of independent control functions. ";
3 ° to paragraph 6 former, becoming paragraph 7, the words "paragraph 3" are replaced by the words "paragraph 4".
S. 129. in article 28, paragraph 1 of the Act, as amended by the royal decree of March 3, 2011, "in accordance with article 52 of the Act Bank." shall be replaced by the words "in accordance with article 222 of the Banking Act".
S. 130. in article 32, paragraph 3, of the Act, the words "referred to in section 52 of the banking law" are replaced with the words "referred to in article 222 of the Banking Act".
S. 131. in article 48, § 1, 2 °, of the same Act, replaced by the law of November 27, 2012, the words "referred to in article 19, § 1, 1 ° and 2 ° of the Bank Act" are replaced by the words "referred to in article 20, § 1, 1 °, 2 ° and 3 ° of the banking law.".
S. 132. in the same law, the heading of Title 4 of book 2 and the title of Chapter 1 of Title 4 supra shall be replaced, respectively, by the title "Penalties and sanctions" and the title "Penalties and administrative sanctions".
S. 133. in article 57, paragraph 3, of the Act, the first sentence is replaced by the following sentence: "Notwithstanding the provisions of paragraphs 1 and 2, a derogation from the requirement referred to in article 6 accreditation is granted to financial institutions within the meaning of article 42, 3 °, of the Banking Act that began before December 25, 2007 in accordance with Belgian law, any activity referred to in article 4, 4), of the banking law and which fulfil the conditions laid down in article 92, paragraph 1, 6 °, of the said Act. "."
S.
134. in article 59, 1 °, of the same Act, inserted by the law of November 27, 2012, the words "under articles 65 or 66 of the banking law" and "in accordance with article 79 of the Bank Act;" are respectively replaced by the words "pursuant to articles 312 or 313 of the banking law" and "in accordance with section 333 of the Banking Act;".
S. 135. in article 62 of the same Act, inserted by the law of November 27, 2012, the following changes are made: 1 ° in the § 1, paragraph 1, 8 °, the words "within the meaning of article 3, § 1, 3 ° of the Banking Act" are replaced by the words "within the meaning of article 3, 29 ° of the banking law";
2 ° to the § 1, paragraph 1, 9 ° is replaced as follows: "9 ° the identity of persons involved in the administration or management of the electronic money institution, persons who participate in the actual direction of the activity of issuing electronic money, and if applicable payment service, in the electronic money institution and the identity of those responsible for oversight functions independent and the proof of their professional repute and their expertise to the meaning of" article 68; ";
3 ° to § 2, paragraph 1, the words "persons who are called to take part in the administration, management or the effective management of the electronic money institution" shall be replaced by the words "of the persons to be members of the legal Board of Directors of the electronic money institution, of the Committee of management or, in the absence of Management Committee, called persons to be responsible for the effective management , as well as people called to be responsible for the independent control functions, "."
S. 136. article 68 of the same Act, inserted by the law of November 27, 2012, is replaced by the following: 'article 68 § 1. Members of the legal governing body of the institution of electronic money, the persons responsible for the effective management of the activity of issuing electronic money and, where appropriate, payment services within the electronic money institution, if any members of the Executive Committee, as well as officials of the independent control functions are only natural persons.
The persons referred to in paragraph 1 must have permanently the professional repute and appropriate expertise to take their tasks on the issuance of electronic money and, where appropriate, payment services.
§ 2. The effective management of electronic money institutions should be entrusted to two persons at least.
§ 3.
Section 20 of the Banking Act shall apply to the persons referred to in paragraph 1. "."
S.
137. it is inserted into the Act a section 71A as follows: "article 71A. § 1. Electronic money institutions shall previously inform the Bank of the proposal for the appointment of members of the legal Board of Directors and the members of the Committee of management or, in the absence of Management Committee, responsible persons of the effective management of the activity of issuing electronic money and, where appropriate, for payment in the electronic money institution services , as well as officials of the independent control functions.
In the context of the information required under paragraph 1, electronic money institutions shall communicate to the Bank all documents and information to assess if the persons whose appointment is proposed have the required professional repute and the appropriate expertise in the performance of their duties in accordance with article 68.
Paragraph 1 is also applicable to the proposal for renewal of the appointment of persons who are covered as well as the non-renewal of appointment, dismissal or resignation.
§ 2. The appointment of the persons referred to in paragraph 1 is subject to the prior approval of the Bank.
When it comes to the appointment of a person who is proposed for the first time to a function referred to in paragraph 1 in a financial company controlled by the Bank pursuant to article 36/2 of the law of 22 February 1998, the Bank consults before the FSMA.
The FSMA communicate its opinion to the Bank within a period of one week from the receipt of the request for an opinion.
§
3. Electronic money institutions shall inform the Bank of the possible distribution of the tasks between members of the legal administration and the persons responsible for the effective management, applicable between the members of the Executive Committee.
Significant changes in the distribution of the tasks referred to in paragraph 1 give rise to the application of paragraphs 1 and 2. "."
S. 138. in section 73 of the Act, inserted by the law of November 27, 2012, the following changes are made: 1 ° in the § 1, the words "within the meaning of article 3, § 1, 3 ° of the banking law" and "referred to in article 24, § 3, paragraph (3) of the Banking Act" are replaced by the words "within the meaning of article 3, 29 ° of the banking law" respectively and "referred to in article 46 , paragraph 2 of the Bank Act. ";
2 ° in § 2, paragraph 1, b), the words "the reputation and the experience" are replaced by the words "the integrity and expertise".
S. 139. in section 75 of the Act, inserted by the law of November 27, 2012, the following changes are made: 1 ° to paragraph 2, the words "and the name of the leaders of the branch" shall be replaced by the words "as well as the name of the actual leaders of the branch and, where appropriate, its leaders of independent control functions";
2 ° a paragraph worded as follows is inserted between paragraphs 2 and 3: "effective leaders of the branch and its officials of functions

independent control must have permanently the professional repute and appropriate expertise to assume their duties. Article 71A shall apply mutatis mutandis to the appointment of senior managers of the branch and, where appropriate, of its officials of independent control functions. ";
3 ° to paragraph 6 former, becoming paragraph 7, the words "article 5" shall be replaced by the words "paragraph 6".
S. 140. in section 100 of the Act, inserted by the law of November 27, 2012, the following changes are made: 1 ° 1 ° is replaced as follows: ' 1 ° sections 71A and 72; ";
2 ° to 2 °, the words "within the meaning of article 3, § 1, 3 ° of the banking law," shall be replaced by the words "within the meaning of article 3, 29 ° of the Banking Act".
S. 141. in section 105, § 1, 2 °, of the same Act, inserted by the law of November 27, 2012, the words "referred to in article 19, § 1, 1 ° and 2 ° of the Bank Act" are replaced by the words "referred to in article 20, § 1, 1 °, 2 ° and 3 ° of the banking law.".
S.
142. in the same law, the heading of Title 4 of book 3 and the title of Chapter 1 of Title 4 supra, inserted by the law of 27 November 2012, are replaced, respectively, by the title "-penalties and sanctions" and the title "-penalties and administrative sanctions".
Section XVIII. -Amendments to the law of August 3, 2012 on certain forms of collective management of investment portfolios s. 143. in article 3 of the law of August 3, 2012 on certain forms of collective management of investment portfolios, the following changes are made: 1 ° to 37 °, the words "referred to the title II to IV of the law of 22 March 1993;" shall be replaced by the words "referred to in book II and titles I and II of Book III of the Act of April 25, 2014;";
2 ° to 38 °, the words "referred to in article 3, § 1, 5 °, of the law of 22 March 1993;" shall be replaced by the words "referred to in article 3, 41 °, of the law of April 25, 2014;";
3 ° the 47 is replaced by the following: "47 ° by"law of April 25, 2014": the Act of April 25, 2014 the status and control of credit institutions;".
4 ° is added a 62 ° as follows: "62 ° by independent control function: internal audit function, compliance or risk management function respectively referred to in §§ 4, 5 and 6 of section 41, and §§ 4, 5 and 6 of article 201".
S.
144. article 39 of the Act is replaced by the following: 'article 39 § 1.
Members of the legal Board of Directors of investment companies, the persons responsible for the effective management and officials of the independent control functions, are exclusively of natural persons.
The persons referred to in paragraph 1 must have permanently the professional repute and expertise appropriate to the exercise of their functions, in accordance with article 9 and with regard to the category of authorized investments for which the investment company has opted.
§ 2. Effective management of investment companies must be entrusted to two persons at least.
§ 3. Investment companies previously inform the FSMA of the proposal for the appointment of members of the legal governing body, persons responsible for the effective management and heads of independent control functions.
In the context of the information required under paragraph 1, investment firms shall communicate to the FSMA all documents and information to assess if the persons whose appointment is proposed have the required professional repute and the appropriate expertise in the performance of their duties in accordance with paragraph 1, paragraph 2.
Paragraph 1 is also applicable to the proposal for renewal of the appointment of persons who are covered as well as the non-renewal of appointment, dismissal or resignation.
The appointment of the persons referred to in paragraph 1 is subject to the prior approval of the FSMA.
When it comes to the appointment of a person who is proposed for the first time to a target function in the § 1 in a financial company controlled by the FSMA in accordance with article 45, § 1, 2 °, of the law of 2 August 2002, the FSMA previously consulted the Bank.
The Bank shall communicate its opinion to the FSMA within a period of one week from the receipt of the request for an opinion.
Investment firms shall inform the FSMA for the possible distribution of tasks between members of the legal body of Directors and persons responsible for the effective management, as well as of significant changes in the distribution of tasks.
Significant changes in the distribution of the tasks referred to in the preceding paragraph give rise to the application of paragraphs 1 to 4 "."
S. 145. article 40 of the Act is replaced by the following: 'article
40. the members of the body of legal administration of investment, persons responsible for the effective management companies, as well as officials of the independent control functions, can be found in one of the cases referred to in article 20 of the Act of April 25, 2014. "."
S. 146. in article 50, § 2, paragraph 1, 1 °, of the Act, the words "referred to in title II of the law of 22 March 1993" and "referred to in title III of the Act;" are respectively replaced by the words "referred to in book II of the Act of April 25, 2014" and "referred to in title I of Book III of the Act;".
S. (147. in article 71 of the Act, the following amendments are made: 1 ° to b), the words "prescribed by article 13 of the law of 22 March 1993," are replaced by "provided for in article 14 of the Act of April 25, 2014";
2 ° c), the words "in accordance with article 65 of the law of 22 March 1993'; are replaced by the words"in accordance with article 312 of the Act of April 25, 2014;";
3 ° to d), the words "in accordance with article 66 of the law of 22 March 1993'; are replaced by the words"in accordance with section 313 of the Act of April 25, 2014";.
S. 148. in article 85, § 2, paragraph 1 of the Act, the words "referred to in article 13 of the law of 22 March 1993", and "in accordance with article 65 of the law of 22 March 1993" are respectively replaced by the words "referred to in article 14 of the Act of April 25, 2014", and "in accordance with article 312 of the Act of April 25, 2014".
S. 149. in article 154, § 2, paragraph 2, of the Act, the words "referred to in article 13 of the law of 22 March 1993", and "in accordance with article 65 of the law of 22 March 1993" are respectively replaced by the words "referred to in article 14 of the Act of April 25, 2014", and "in accordance with article 312 of the Act of April 25, 2014".
S. 150. in article 187, 2 °, of the Act, the words "referred to in titles II to IV of the law of 22 March 1993," are replaced by the words "referred to in book II and titles I and II of Book III of the Act of April 25, 2014,".
S. 151. article 199 of the Act is replaced by the following: 'article 199 § 1. The members of the legal governing body of management companies, persons responsible for the effective management, if any members of the Executive Committee, as well as officials of the independent control functions, are exclusively of natural persons.
The persons referred to in paragraph 1 must have at all times the required professional repute and expertise appropriate to the exercise of their function, having regard in particular to the programme of activities referred to in article 189.
§ 2. The actual direction of management companies should be entrusted to two natural persons at least. "."
S. 152. article 200 of the Act is replaced by the following: 'article 200 members of the legal administration of the collective investment management company, the persons who are responsible for the effective management, if any members of the Executive Committee, and responsible for an independent control function, can be found in one of the cases referred to in article 20 of the Act of April 25, 2014. "."
S.
(153. in article 207, § 3, paragraph 2, b), of the Act, the words "the reputation and the experience" are replaced by the words "the professional integrity and expertise".
S. 154. article 211 of the Act is replaced by the following: 'article 211. the management companies previously inform the FSMA by the proposal of appointment of members of the legal Board of Directors and the members of the Committee of management or, in the absence of Management Committee, of those responsible for the effective management, as well as officials of the independent control functions.
In the context of the information required under paragraph 1, management companies communicate to the FSMA all documents and information to assess if the persons whose appointment is proposed have the required professional repute and the appropriate expertise in the performance of their duties in accordance with article 199.
Paragraph 1 is also applicable to the proposal for renewal of the appointment of persons who are covered as well as the non-renewal of appointment, dismissal or resignation.
The appointment of the persons referred to in paragraph 1 is subject to the prior approval of the FSMA.
When it comes to the appointment of a person who is proposed for the first time to a function referred to in paragraph 1 in a financial company controlled by the FSMA in accordance with article 45, § 1, 2 °, of the law of 2 August 2002, the

FSMA first consults the Bank. The Bank shall communicate its opinion to the FSMA within a period of one week from the receipt of the request for an opinion.
Management companies shall inform the FSMA for the possible distribution of tasks between members of the legal body of Directors and persons responsible for the effective management, as well as of significant changes in the distribution of tasks.
Significant changes in the distribution of the tasks referred to in the preceding paragraph give rise to the application of paragraphs 1 to 4 "."
S.
155. in article 212, § 3, paragraph 3, of the Act, 'referred to in article 32, § 4, of the law of 22 March 1993' shall be replaced by the words "referred to in article 89, § 1, of Regulation No. 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending the Regulation (EU) No 648/2012".
S. 156. article 227, § 1, 4 °, of the Act is replaced by the following: "4 ° the name of the actual leaders of the branch and its leaders of independent control functions.
The actual leaders of the branch and its officials of independent control functions must have at all times the required professional repute and expertise appropriate to the exercise of their function. Article 211 shall apply mutatis mutandis to the appointment of senior managers of the branch and its leaders of independent control functions. "."
S. 157. in section 241 of the Act, the following amendments are made: 1 ° to paragraph 1, paragraph 1, 2 °, "within the meaning of article 49bis of the law of 22 March 1993", shall be replaced by the words "within the meaning of article 3, 39 ° of the Act of April 25, 2014";
2 ° to the paragraph 1, paragraph 2, the words "the provisions of article 49 of the law of 22 March 1993", are replaced by the words "the provisions of Sections I, II and IV of book II, title III, chapter IV of the Act of April 25, 2014,";
3 ° to paragraph 5, paragraph 1, the words "of article 49 of the law of 22 March 1993" shall be replaced by the words "sections Ire, II and IV of book II, title III, chapter IV of the Act of April 25, 2014,".
S. (158. in article 279, § 1, paragraph 2, of the Act, the c) is replaced by the following: "c) Belgian and foreign credit institutions referred to in article 1, § 3, of the Act of April 25, 2014;".
S. 159. article 291, paragraph 1, of the Act is replaced by the following: "any information the head of offence under this Act or to any of the legal provisions referred to in articles 40 and 200 against collective investment undertakings, of investment funds management companies, administrators, directors, agents or officials of independent control functions of investment funds or investment funds management companies , or of Commissioners approved a fund or a collective investment management company and any information of count under this Act against any other person or entity should be brought to the attention of the FSMA by the judicial authority which is before it. "."
Section XIX.
-Changes of the Code of corporations s. 160. under articles 92, § 3, 2 °, 108, 1, 145, 1 °, 224, paragraph 1, 311, paragraph 1, 399, paragraph 1, 422, paragraphs 1 and 2, 430, § 2, 1 °, 449, paragraph 1, 468, subparagraph 6, 1 °, 600, paragraph 1, 629, § 2, 1 °, 630, § 2, 798, 1st paragraph and 869 of the companies Code, the words "the law of 22 March 1993 on the status and control of credit institutions" shall be replaced by the words "the Act of April 25, 2014
status and control of credit institutions".
S. 161. in article 771 of the Code of corporations, the words "defined in article 61 of the law of 22 March 1993 on the status and control of credit institutions" are replaced by the words "defined in section 239 status and control of credit institutions act of April 25, 2014".
Section XX. — Amendment of certain art securities trading act of 6 August 1993 162. article 15 of the operations on certain Securities Act of 6 August 1993, amended by the law of 15 July 1998, is replaced by the following: "may be approved by the King, settlement systems which are managed by the National Bank of Belgium, by a body of liquidation within the meaning of article 36/26 of the law of 22 February 1998 establishing the Organic Statute of the National Bank of Belgium or by" one or more credit institutions established in a European economic area Member State. "."
Section XXI. -Amendments to the law of 24 July 2008 on the miscellaneous provisions (I) s. 163. article 28 of the Act of 24 July 2008 on the various (I) provisions is supplemented by two paragraphs worded as follows: "by way of derogation from paragraph 1, the assets of dormant accounts-securities which have not been the subject of an intervention on the part of licensees, are transferred to the Fund before a deadline determined by the King."
The King may also determine a deadline for the transfer of data to such accounts. "."
S. 164. article 49 of the same Act, amended by the law of June 17, 2013, is complemented by two paragraphs worded as follows: "by way of derogation to paragraph 2, and in the absence of intervention by the holder, titles of securities accounts are, transferred to the Fund before a deadline determined by the King.
The King may also determine the final date of the transfer of data relating to these securities accounts. "."
Section XXII. -Modification of the coordinated Act of 24 December 1996 on the organisation of the public sector of the credit and the detention of the interests of the public sector in some private financial corporations s. 165. the chapter IV "S.A Credit Professional and the professional credit network" coordinated 24 December 1996 Act on the organisation of the public sector of the credit and the detention of the interests of the public in some private financial corporations sector, comprising articles 48 to 59, as amended by the Act of November 27, 2012, is replaced by the following : "Chapter IV. The professional credit network.
S. 48. the professional credit network is formed by financial firms that have joined the professional credit network, namely 1 ° companies that guarantee fame credits by them or by credit associations that joined the professional credit network;
2 ° local commercial companies and federations of local societies to craft tools, hereinafter referred to as "Member" or "members of the professional credit network".
The professional credit network has no legal personality.
Are considered as part of the professional credit, all operations credit to facilitate the exercise, by a natural person, a profession or the operation, by a legal person, a business, an industry or an occupation of the middle classes, without being required that the credit applicant has trader as it is defined by the book I title I, count of the Commercial Code.
The members of the professional credit network respond as such, under the following conditions: a) the professional credit network members must adopt the form of limited liability cooperative companies. Their articles must stipulate that the profit distributed to shareholders may not exceed the rate of interest determined by the King in implementation of the law of July 20, 1955, establishing a national Cooperation Council, or this same interest rate plus 5 BW maximum with respect to the shares subscribed by the Member concerned of the professional credit network staff applied to the amount actually released the shares, and that resigning or excluded shareholders will be entitled to reimbursement of their implementation.
(b) in the case of liquidation, and without prejudice to article 49, the members of the professional credit network must set, in accordance with their statutes, after the discharge of any liability and reimbursement of their development partners, the liquidation surplus to another Member of the network of professional credit or, failing that, the ageing, referred to in article 42 Fund.
(c) the Statute of the members of the professional credit network must stipulate that they can merge with one or more members of the professional credit network, cannot split in society adhering to the professional credit network and cannot make a contribution or a transfer of universality or branch of activity only to a member of the professional credit network.
S. 49 § 1. Any Member who fails or ceases to comply with the conditions laid down in article 48, paragraph 4, shall pay to the ageing Fund referred to in article 42, in the month following this finding, the sum of the following accounting: reserves, the revaluation gains, the Provident Fund for future risks and the positive or negative deferred.
These accounting elements are those defined by the regulations on the annual accounts of credit institutions, as they were counted at the close of the last financial year preceding, including those who would be incorporated at any time whatsoever to the capital of the Member of the network of professional credit.

Paragraph 1 shall also apply to any member of the network of professional credit which would amend its statutes so that the provisions of article 48, paragraph 4, would be more respected, or would contravene these provisions.
In the case of paragraph 2, the sum of the accounting items that must be paid to the ageing Fund, set up by article 12 of the law of 5 September 2001, in accordance with paragraph 1 will be one of these elements as they existed at the time of the event giving rise to this duty, increased their actual performance or reduced losses until the day of payment. The amount so determined shall be paid to the ageing Fund referred to in article 42, in the month following the event giving rise to this obligation.
The auditor of each Member of the professional credit network is responsible to inform the Fund of ageing, referred to in article 42, of any circumstance that could result in the application of paragraph 1 or 2.
§ 2. Each company, as long as it is part of the professional credit network, has the obligation to designate an auditor notwithstanding the provisions of article 141 of the Code of corporations.
S. 50. any reference to the 'participation Fund' in the Statute of the members of the professional credit network shall, for the purposes of this Act, be construed as a reference to the "Ageing Fund"referred to in article 42 until the Statute of the members concerned of the professional credit network are appropriate.".
Section XXIII. -Amendments to the law of April 25, 2014 on the status and control of independent financial planners and the provision of consultations in financial planning by regulated companies and amending the Code of corporations and act of 2 August 2002 on the supervision of the financial sector and financial services s. 166. in article 4, paragraph 1, 3 °, a), of the Act of April 25, 2014 to the status and control of independent financial planners and the provision of consultations in financial planning by regulated companies and amending the Code of corporations and act of 2 August 2002 on the supervision of the financial sector and financial services ", the words" as defined in article 1, paragraph 2, of the law of 22 March 1993 on status and control of credit institutions ' shall be replaced by the words "as defined in article 1, § 3 of the Act of April 25, 2014 to the Statute and to the relative status and control of credit institutions '."
S. 167 article 12, § 2, of the Act, the words 'listed in article 19 of the law of 22 March 1993 on the status and control of credit institutions' shall be replaced by the words "listed in article 20, § 1, of the Act of April 25, 2014 to the Statute and to the relative status and control of credit institutions".
CHAPTER 4.
-Provisions concerning speculation on foodstuffs s. 168. article 25 of the law of 2 August 2002 on the supervision of the financial sector and financial services, as last amended by the Act of July 30, 2013, is complemented by a § 6 worded as follows: "§ § 6 6" Are covered by this paragraph: 1 ° acts concerning financial instruments referred to in paragraph 3 for as far as the Act in question has, is likely to have or is intended to have an impact on the price of a foodstuff designated by the King under section 4;
2 ° the acts concerning foodstuffs designated by the King under paragraph 4 for as far as the Act in question has, is likely to have or is intended to have an impact on the price of a financial instrument referred to in paragraph 3.
It is prohibited to any person to provide information or false or misleading data or engage in any other act constituting a manipulation of the price of a financial instrument or a foodstuff.
For the purposes of this paragraph, 'foodstuff' is a raw material, which, if after treatment, is intended for human consumption.
By royal decree deliberated in the Council of Ministers on the advice of the FSMA, the King is empowered to establish the list of the foodstuffs referred to in paragraphs 1 and 2. "."
S. 169. in the Act of 2 August 2002 on the supervision of the financial sector and financial services, it is inserted an article 29 bis worded as follows: "article 29bis. § 1. Under the conditions and procedures laid down by regulation, the FSMA determines the rules on the limits to positions in financial instruments whose the underlying is formed by food, traded on a regulated market or an MTF, that a person is authorized to hold, and fixed derogations from these rules, especially when the positions in question were formed for purposes of coverage what it can take account of the progress of the harmonisation of the rules in question in the European Union.
§
2. This regulation also determines the cases in which financial intermediaries established in Belgium and other persons designated by the regulations of the FSMA State positions in the instruments referred to in paragraph 1, including the terms and the frequency of this notification.

§ 3. For the purposes of this article, the concept of 'foodstuff' should be understood in the meaning of the definition given in article 25, § 6.
§ 4. The King may, by order deliberate in Council of Ministers, made on the advice of the FSMA take the measures necessary for the transposition of the mandatory provisions under Community law and dealing with the rules on financial derivatives on raw materials, especially concerning definitions, the limits on the positions, reporting, management positions, the intervention on the products control and international cooperation of the FSMA.
Orders made under this section may change, Supplement, replace, repeal or coordinate the existing legislative provisions, including the determination of the measures, administrative sanctions and penalties for breaches of the rules.
Orders made under this section are repealed right if they were not confirmed by law within 24 months from the date of entry into force. The confirmation is retroactive to the date of entry into force of the Royal Decrees. "."
CHAPTER 5. -Changes of tax Code income 1992 on income derived from savings deposits art.
170 A section 21 of the 1992 income tax Code, as amended by the Act of July 28, 2011, the following changes are made: 1 ° in the introductory sentence of 5 °, the words 'established in Belgium and governed by the law of 22 March 1993 on the status and control of credit institutions' shall be replaced by the words "referred to in article 56 , § 2, 2°, a";
2 ° in 5 °, the first indent is replaced by the following: "-these deposits must, in addition, meet the criteria defined by the King on the advice the National Bank of Belgium and the authority of the financial services and markets, each in its field of competence, as the currency in which they are denominated, respecting the modes of withdrawals and levies and conditions and as to the structure" the level and calculation of their earnings, or for deposits received by credit institutions which are established in another Member State of the European economic area, these deposits must meet similar criteria defined by the similar competent authorities of the other Member State; ";
3 ° 5 ° is supplemented by the following: "-when the savings deposit is denominated in a foreign currency, the conversion into euro takes place once a year on 31 December or the date of the final disposition of the deposit;".
S. 171 article 171 of the Code, instead of the 3 ° d, annulled by judgment No. 7/2014 of the Constitutional Court of January 23, 2014, it is inserted in a 3 ° d as follows: "3 ° d at the rate of 15 per cent, revenues associated with savings deposits referred to in article 21, 5 °, insofar as they exceed the limits to 5 ° of the said article;".
S.
172. in article 174/1, § 1, paragraph 4, of the Code, the place of the words "and revenues associated with savings deposits referred to in article 171, 3 ° d" cancelled by the decision No. 7/2014 of the Constitutional Court of January 23, 2014, the words "and revenues associated with referred to article 171, 3 ° d, savings deposits" are inserted between the words "10 or 25 p. c." and "aren't".
S. 173. in article 269, paragraph 1, of the Code, instead of 5 °, cancelled by the decision No. 7/2014 of the Constitutional Court of January 23, 2014, inserted a 5 ° as follows: "5 ° to 15 p.c. for savings deposits income referred to in article 21, 5 °, and insofar as, in relation to income paid or attributed to individuals" , they exceed the limits to 5 ° of the said article; "."
S. 174. the chapter produced its effects in what concerns income allocated or set payment from 1 January 2012, with the exception of sections 172 and 173, which produce their effects in relation to revenues attributed or put in payment from 1 January 2012 and shall cease to have effect in relation concerning revenues attributed or put in payment from 1 January 2013.
CHAPTER 6. -Amendments to articles 307 and 322 of the Code of 1992 in foreign bank accounts income tax

S. 175. in article 307, § 1, paragraph 2, of the 1992 income tax Code as last amended by the law of March 29, 2012, the words "no later than simultaneously with the introduction of the declaration which contains references to the existence of foreign accounts referred to in this paragraph, these account numbers must be communicated under article 322" central contact point ", § 3, in the manner to be determined by the King, unless this communication has already been done in a year previous." shall be replaced by the words "at the latest at the same time as the introduction of the declaration which includes references to the existence of foreign accounts referred to in this paragraph, these account numbers, the name of the establishment of Bank in Exchange, credit or savings and the countries that these accounts had been opened must be disclosed under section 322, central contact point § 3, except if this communication was already made in a previous tax year. The King determines the modalities of this communication and the retention period of the data concerned. "."
S. 176. article 322 of the same Code, as last amended by the law of June 17, 2013, is supplemented by a § 5 worded as follows: "§ § 5 5" When the officer designated by the Minister, referred to in § 2, paragraph 3, noted that the investigation referred to in § 2 revealed one or more indices of tax fraud or that the investigation involves a possible application of article 341, it can request central contact point available data on foreign bank accounts referred to in article 307, § 1, paragraph 2 , of the taxpayer.
The King shall determine the modalities of the consultation, by the official referred to in § 2, paragraph 3, designated by the Minister, data relating to foreign bank accounts referred to in article 307, § 1, paragraph 2 "."
S. 177. by derogation from article 307, § 1, paragraph 2, of the same Code: has) taxpayers must communicate, within two months after the third day following the invitation, by the Federal Public Service Finance, to provide the required data, and as soon as possible within two months with effect from 1 November 2014, data relating to foreign accounts whose existence , under article 307, § 1, paragraph 2, of the Code, is reported in the declaration to tax natural persons for the years to 2012 to 2014 target central contact point taxation article 322, § 3, of the 1992 income tax Code;
"(b) declaration form to taxation of natural persons for the 2014 tax year contains no entries to confirm that the data listed in the a) are communicated at the point of contact referred to in article 322, § 3, supra."
CHAPTER 7. -Modifications, institutional in nature, Act of 2 August 2002 on the supervision of the financial sector and financial services s. 178 article 47 of the law of 2 August 2002 on the supervision of the financial sector and financial services, as amended by the royal decree of March 3, 2011, the words "Management Committee, the Chairman of the Executive Committee and the Secretary-General" are replaced by the words "the Executive Committee and the president of the Executive Committee".
S.
179. at section 48 of the Act, as amended by the royal decree of March 3, 2011, the following changes are made: 1 ° 1st paragraph, paragraph 1, 2 °, is completed as follows "and deliberate on the annual action plan for the control referred to in article 49, § 2;";
2 ° to the paragraph 1, paragraph 1, 4 °, the words "after consultation" are inserted between the words "Steering Committee and" and the words "the audit committee" and the words "in article 2" are replaced by the words "to paragraph 1bis.";
3 ° it is inserted a paragraph 1, subparagraph 1, 5 ° bis, which read as follows: "5 bis ° give advice on the draft regulations proposed by the Management Committee in application of article 49, § 3;";
4 ° 1st paragraph, 1st indent, 7 °, is replaced by the following provision: 7 ° monitor general operation integrated in accordance with the law, effective and efficient of the FSMA. ";
5 ° to the 1st paragraph, paragraphs 3 to 6 shall be deleted;
6 ° the former paragraph 1, paragraph 2, which becomes paragraph 1a is replaced by the following provision: "§ 1a." For the purposes of the exercise of the monitoring mission referred to in paragraph 1, particularly 4 ° and 7 °, the Council creates its members an audit committee; the audit committee consists of four members selected from among the members who cannot hold a participation within the meaning of article 13 of the Code of corporations in an undertaking subject to permanent control of the FSMA, or perform a function or a term in a business under the permanent supervision of the FSMA or in a professional association representing undertakings subject to the control of the FSMA. The Committee has as many members of Dutch expression of francophone members.
The Committee elects a president among its members. "."
7 ° a paragraph 1B shall be inserted, worded as follows: "§ 1B." The audit committee referred to in paragraph 1bis skills has following: 1 ° he approves the profile of service, choice, commitment, change of function and the dismissal of the head of the audit service internal and participates in the selection with the candidate interviews;
2 ° it makes recommendations to the Steering Committee in regard to the role and the functioning of the audit service internal, approves the internal audit Charter as well as the planning of the activities of the service;
3 ° it deliberates the reports of CSIS internal audit relating to investigations, follow-up to recommendations and the activity reports of the internal audit service;
4 ° he participated in the annual assessment of Internal Auditors;
5 ° it ensures the existence of direct reporting by the service of internal audit to the Executive Committee;
6 ° it examines the draft budgets and annual accounts drawn up by the Executive Committee prior to their approval by the Council. It makes this topic an opinion to the Council.
The head of the internal audit service and the auditor have direct access to the Chairman of the audit committee.
The audit committee is annually report to the Supervisory Board on its activities, so that individuals or entities individual can be identified. Information relating to physical or legal persons individual to which the audit committee has access to the head of the exercise of its functions, is also with respect to the other members of the Supervisory Board of professional secrecy referred to in article "74;
8 ° a 1 c paragraph worded as follows is added: "§ 1erquater." The Supervisory Board shall forward any appropriate recommendation to the Executive Committee, in relation to the matters referred to in paragraph 1, 7 °, where appropriate on a proposal from the audit committee. The Executive Committee shall report to the Council on the follow-up to the recommendations. ";
9 ° to paragraph 3, the following changes are made: a) 'four of its members' shall be replaced by the words "at least three of its members";
(b) the words "In the event of equality of votes, the vote of the Chairman of the Supervisory Board is dominating" are replaced by the words "In the event of equality of votes on an item on the agenda of the day, the proposal for a decision is supposed to be rejected";
(c) it is introduced a paragraph 2, as follows: "unless the president of the Council decides otherwise regarding a particular item of the agenda, members of the Executive Committee attend meetings of the Council, without taking part in the deliberations.".
S. 180 section 49 of the Act, as amended by the Act of July 30, 2013, paragraph 7 is replaced by the following provision: "§ § 7 7" The Executive Committee meets when the Chairman of the Executive Committee deems it necessary or when a member formula reasoned request, and at least 12 times per quarter.
The Executive Committee may decide when at least two of its members are present.
The Committee decided unanimously. Where unanimity cannot be reached, decisions are taken by a majority of the members present. In the event of equality of votes on an item on the agenda of the day, the proposal for a decision is supposed to be rejected.
It is prepared minutes of the deliberations of the Executive Committee. The minutes are signed by the members present. In the event of disagreement, the members of the Committee have the right to have their vote, if necessary with reasons to support, or their opinion in the minutes. "."
S. 181. article 51 of the Act, as amended by the royal decree of 3 March 2011, is removed.
S.
182. at section 52 of the Act, as amended by the royal decree of March 3, 2011, the words ", and the Secretary-General" shall be deleted.
S. 183 A section 53 of the Act, as amended by the Act of July 30, 2013, the following changes are made: 1 ° to the paragraph 1, the words ", by Secretary-General" shall be deleted;
2 ° in the second paragraph, the word "and" shall be inserted between the words "Steering Committee" and the words "the members" and the words "and the Secretary-General" shall be deleted;
3 ° in the third paragraph, the word "and" shall be inserted between the words "President" and the words "the members of the Executive Committee" and the words "and the Secretary-General" shall be deleted.
S. 184. the section 54 of the Act, as last amended

amended by the Act of July 30, 2013, is replaced by the following: 'article 54 § 1.
The FSMA is organized into services, according to a chart arrested by the Executive Committee. The organizational structure reflects the various fields of competence referred to in article 45, as well as support services cross.
§ 2. President and members of the Executive Committee shall ensure, under the collegial authority of the Executive Committee, the direction of one or more services of the FSMA.
Each service reported to the Member of its Management Committee. The internal auditor reports directly and simultaneously to the Executive Committee and to the Chairman of the audit committee. "."
S. 185 A article 62, paragraph 1, of the Act, as amended lastly by the royal decree of 3 March 2011, the word 'and' is inserted between the words "Steering Committee" and the words "the members of the Executive Committee" and the words "and the Secretary-General" shall be deleted.
S. 186 A section 70 of the Act, as amended by the royal decree of March 3, 2011, the following changes are made: 1 ° 1st paragraph is replaced by the following provision: "§ 1." Where the FSMA finds, in the exercise of its statutory tasks, there's suspicion of the existence of a practice liable to give rise to an administrative penalty, or where it is seized of such a practice on complaint, Management Committee support the listener or, in his absence, the Deputy auditor, to instruct the folder. ";
2 ° a 1a paragraph worded as follows is added: "§ 1bis." For the exercise of their function, the auditor and deputy auditor may exercise all powers instruction under the FSMA by the legal and regulatory provisions governing the matter in question. Members of the staff who will assist them for the fulfilment of the statement receive for the fulfilment of their tasks, instructions with them.
The auditor and deputy auditor perform their function in the respect of the rights of the defence. ";
3 ° to paragraph 2, the following changes are made: a) the words "or, in his absence, the Deputy auditor," shall be inserted between the words "The listener" and the words "send a copy";
(b) a sentence is inserted between the second and the third sentence, which reads as follows: "the parties may ask the listener or, in his absence, the Deputy auditor, complementary training actions. When the listener or the Deputy auditor consider not reserving on this demand, they mention why in their statement report. ";
(c) the words "or, in his absence, the Deputy auditor" shall be inserted between the words "The listener" and "grabs".
4 ° there shall be inserted a new paragraph 3., to read: "§ § 3 3" Management Committee means the auditor and the auditor Deputy from among the members of the staff of the FSMA. The listener function is a function full-time. "."
S.
187a section 71 of the Act, as amended by the royal decree of March 3, 2011, the following changes are made: 1 ° 1st paragraph is replaced by the following: "§ 1." The Executive Committee decides suites which he gives to the statement report. It can ask the listener or the listener of comment on the statement report Deputy.
It may also require additional instruction acts. ";
2 ° paragraph 6 is deleted.
S. 188 A article 72 of the Act, as last amended by the Act of July 30, 2013, inserted a new paragraph 2bis., to read: "§ 2A." Where it considers it necessary, with regard to the right to a fair trial, the sanction commission may request of the Executive Committee to complementary instruction acts. "."
S. 189 article 74, paragraph 1 of the Act, as amended by the royal decree of 3 March 2011, the words ", the Secretary-General" are deleted.
S. 190 A section 80 of the Act, as amended by the royal decree of March 3, 2011, the following changes are made: 1 ° to the paragraph 1, the words "the listener may" are replaced by the words "the listener or, in his absence the Deputy auditor, may,";
2 ° to in paragraph 4, the words "the auditor and the members of the staff designated by him may" are replaced by the words "the listener or in his absence, the Deputy auditor and member of the staff designated by them peuvent".
S.
191 A section 81 of the Act, restored by the law of May 2, 2007, the following changes are made: 1 ° in paragraph 1, paragraph 1, the words "the listener may" are replaced by the words "the listener or in his absence the Deputy auditor, may,";
2 ° to the paragraph 1, paragraph 2, and paragraph 2, subparagraphs 1 and 2, the words "the listener" are replaced by the words "the listener or, in his absence the Deputy auditor,".
S.
192 article 82 of the Act, as amended by the royal decree of March 3, 2011, the words "the listener may" are replaced by the "the listener or, in his absence the Deputy auditor, may".
S.
193 A section 83 of the Act, as amended by the Act of July 30, 2013, the following changes are made: 1 ° in paragraph 1, subparagraphs 1 and 2, the words "the listener" are replaced by the words "the listener or, in his absence the Deputy auditor,";
2 ° to the paragraph 1, paragraph 3, the words "the listener and staff members designated by him" are replaced by the words "the listener or in his absence, the Deputy auditor and the members of the staff designated by them";
3 in paragraph 2, paragraph 1, the word "auditor" is replaced by the words "the listener or, in his absence the Deputy auditor,".
S. 194. at article 84, § 1, paragraphs 1 and 3, and paragraph 2, subparagraphs 1 and 2, of the Act, restored by the law of May 2, 2007, "the auditor" shall be replaced by the words "the listener or, in his absence the Deputy auditor,".
S. 195 A section 85 of the Act, "§ 1" is deleted and paragraphs 1 to 3 and 5, restored by the law of May 2, 2007, "the auditor" shall be replaced by the words "the listener or, in his absence, the Deputy auditor,".
CHAPTER 8. -Other provisions repeals and miscellaneous provisions art.
196. by way of derogation from article 36 of the law of 22 February 1998 establishing the Organic Statute of the National Bank of Belgium, the Council of Regency is entitled to replace, in article 61, paragraph 1, of the Statute of the National Bank of Belgium, the word "last" by the word "third".
CHAPTER 9. -Transitional provisions and entry into force article 197. legal persons who, at the date of entry into force of the amendments introduced by this Act in article 90, § 1, paragraph 1 of the law of 9 July 1975, article 60, § 1/1, paragraph 1 of the law of 6 April 1995, in article 17, § 1, paragraph 1 of the Act of February 16, 2009 in articles 13 , § 1, paragraph 1 and 68, § 1, paragraph 1 of the law of December 21, 2009 and articles 39, § 1 and 199 of the law of August 3, 2012, perform a function of Member of the statutory body of Directors, respectively, a business insurance, a business investment, reinsurance, a payment, an electronic currency, a firm of investment or a collective investment management company are allowed to continue their current mandate until the expiration thereof.
Paragraph 1 is also applicable to private companies with limited liability one-person which, at the date of entry into force of the amendments made by this Act to article 39 of the law of August 3, 2012, were responsible for the effective management of an investment company.
Until the expiry of the mandates referred to in this article, article 90, § 1, paragraph 2 of the law of 9 July 1975, article 60, § 1/1, paragraph 2 of the law of 6 April 1995, article 17, § 1, paragraph 2 of the Act of February 16, 2009, sections 13, § 1, paragraph 2 and 68, § 1, paragraph 2 of the law of December 21, 2009 and articles 39 , § 1 and 199 of the law of August 3, 2012, are applicable to the permanent representative of the legal person.
S. 198. without prejudice to article 90/3 of Act of 9 July 1975 on the control of insurance undertakings, insurance companies who have a registration the day of the entry into force of this Act, must be a Board of Directors responding to articles 90/1 or 90/2 of the law of 9 July 1975 supra for January 1, 2016 at most later.
S. 199. without prejudice to article 17/3 of the Act of February 16, 2009 on reinsurance, reinsurance undertakings that have a registration the day of the entry into force of this Act, must be a Board of Directors meeting in articles 17/1 or 17/2 of the Act of 16 February 2009 supra for January 1, 2016 at most later.
S.
200. by way of derogation from article 52 of Act of 2 August 2002 on the supervision of the financial sector and financial services, the person who assumes the function of Secretary general referred to in article 51 of the Act, on May 1, 2013, remains in office until the entry of articles 178 to 195 and 201.
S. 201. by way of derogation from article 49, § 6, of the Act of 2 August 2002 on the supervision of the financial sector and financial services, the King may, on the occasion of the entry into force of articles 178 to 195 and 201, renew the mandate of the members of the Steering Committee for a renewable period of six years and article 49, § 6 , paragraph 5, of the Act, is

not to apply to warrants which expire on the occasion of the entry into force of articles 178-195 and 201.
S. 202 § 1. The provisions of this Act come into force the day of their publication in the Moniteur belge.
However, fixed King, by Decree deliberated in the Council of Ministers, the date of entry into force of articles 56, 57, 58, 59, 61 and 62.

§ 2. Article 170 comes into force January 1, 2015.
The King may set a date of entry into force earlier than referred to in paragraph 1.

§ 3. Articles 178-195 and 201 come into force may 1, 2014.

§ 4. Articles 94 to 97 come into force the 10th day following that of their publication in the Moniteur belge.
For their current bids, approved cooperatives have however a period of two months from the entry into force of article 95, 1 °, in order to respect the amended version of article 18 § 1, a), of the law of 16 June 2006 on public offers of instruments of investment and the admission of investment instruments to trading on regulated markets. For those current public tenders, these companies must comply with article 18, § 3, paragraph 2, of the Act no later than the day of the expiry of this period.
Promulgate this Act, order that it self under the seal of the State and published by le Moniteur.
Given to Brussels, April 25, 2014.
PHILIPPE by the King: the Minister of finance, K. GARG the Deputy Prime Minister and Minister of economy, J. VANDE LANOTTE the Deputy Prime Minister and Minister of the Interior and of equality of opportunity, Ms. J. MILQUET. the Minister of Justice, Ms. A. TURTELBOOM sealed with the seal of the State: the Minister of Justice, Ms. A. TURTELBOOM _ Note (1) House of representatives (www.lachambre.be) Documents : Complete record 53-3413: April 3, 2014.
Senate (www.senate.be) Document: 5-2842 project not mentioned by the Senate: April 10, 2014.