Law Amending And Supplementing The Law On Credit Institutions

Original Language Title: Закон за изменение и допълнение на Закона за кредитните институции

Read the untranslated law here: http://parliament.bg/bg/laws/ID/15419/

Name of law Law amending and supplementing the law on credit institutions Named Bill a bill amending and supplementing the law on credit institutions date of acceptance 25/06/2015 number/year Official Gazette Decree No 50/2015 114

On the grounds of art. 98, paragraph 4 of the Constitution of the Republic of Bulgaria

I DECLARE:

To be published in the Official Gazette the law amending and supplementing the law on credit institutions, adopted by the HLÌÌI National Assembly on 25 June 2015.

Issued in Sofia on 30 June 2015.

The President of the Republic: Rosen Plevneliev

Stamped with the State seal.

Minister of Justice: Hristo Ivanov

LAW

amending and supplementing the law on credit institutions (official SG. 59 06; amend., 105/2006, no. 52, 59 and 109 from the 2007 No. 69 since 2008, no. 23, 24, 44, 93 and 95 of 2009, 94 and 101 of 2010 and 77/105 from 2011, and 38/44 by 2012. , PC. 52, 70 and 109 in 2013, PCs. 22, 27, 35 and 53 by 2014 and PCs. 14 and 22 by 2015.)

§ 1. In art. 3 (a), para. 2 section 2 is amended as follows:

"2. in the subject matter of his activity to the activity in question specifically mentioned under art. 2, al. 2, item 6, 7 and 12 or under art. 3, al. 1, 2 and 3; ".

§ 2. In art. 62 following amendments and supplements shall be made:

1. In paragraph 8. 1, after the word "liquidators" is added "receivers".

2. Paragraph 3 shall be amended as follows:

"(3) the persons referred to in para. 1 Declaration of bank secrecy when taking up their duties, respectively, before proceeding to the execution of the work. "

3. in the Al. 5 the Union "or" shall be deleted and the comma, and add "or, in the cases referred to in para. 12 in the Bank in bankruptcy proceedings.

4. Al are created. 12, 13, 14, 15, 16 and 17:

(12) within 6 months from the entry in the commercial register of the decision under art. 13 of the law on banking insolvency administrator of the Bank in bankruptcy proceedings shall disclose:

1. natural and legal persons and the size of their deposits within the meaning of § 1, item 1 of the additional provisions of the law on deposit insurance in banks that have been submitted in the privileged interest rates announced by the Bank's deviation from the conditions that apply to its depositors, if these persons have made deals with its deposits after placing the Bank under special supervision;

2. natural and legal persons and the size of their loans and deposit within the meaning of § 1, item 1 of the additional provisions of the law on deposit insurance in banks that have been submitted in the privileged interest rates announced by the Bank's deviation from the conditions that apply to its depositors and borrowers, for a period of two years prior to the date of insolvency;

3. natural and legal persons who have reported on the transfer of decision making or have made a declaration of set-off after placing the Bank under special supervision;

4. credit transactions, in which:

(a)) are not agreed collateral or collateral arrangements are agreed with a value lower than the amount of credit drawn down;

(b)) are not duly constituted the agreed collateral arrangements;

in the formation of properly) after the securities are not reserved rights of lender bet on them in accordance with the procedure laid down by law, including when renewed entry of pledge is not handed over to the creditor or missing at the time of the disclosure of the real object;

d) property originating from a bank within the meaning of § 1, item 6 of the additional provisions of the law on banking insolvency is provided by the borrower of other individuals and the amount of any transactions exceeding EUR 50 000, as the faces are revealed in sequence; the requirement for a threshold does not apply to the persons under art. 2, al. 1 and 3 of the law on publicity of the property of persons occupying high government and other offices;

(e)) were renegotiated loans in respect of the period of performance, size and type of collateral, if it is not agreed in the main contract;

5. the amount of deposits and loans to political parties, the persons under art. 2, al. 1 and 3 of the law on publicity of the property of persons occupying high government positions, and other members of the Supervisory Board and the Management Board of the Bank and the entities for which it has provided information on al. 15;            

6. consulting contracts, leases and other v″zmezdni grants and contracts concluded between the Bank and the persons under art. 2, al. 1 and 3 of the law on publicity of the property of persons occupying high government positions, and other members of the Supervisory Board and the Management Board of the Bank and the entities for which it has provided information on al. 15. (13) information under para. 12, item 4, 5 and 6 shall apply for a period of five years preceding the date of the withdrawal of the authorisation of the Bank in bankruptcy proceedings. The information shall also apply to the persons under art. 2, al. 1 and 3 of the law on publicity of the property of persons occupying high government and other posts in the period referred to in the first subparagraph have occupied such posts.

(14) If in cases under para. 12 item 4 entitled to bring legal proceedings with legal basis under art. 60 (a) of the law on insolvency, banking information under para. 12, paragraph 4, point (d) shall be made after the commencement of the case.

(15) the President of the Court of Auditors shall provide the official receiver in electronic format:


1. a list of the persons under art. 2, al. 1 and 3 of the law on publicity of the property of persons occupying high government and other offices, including for persons who have held such posts in the period referred to in paragraph 1. 13, first subparagraph, within 14 days from the date of registration of a judgment under art. 13 of the Act on bankruptcy, banking and

2. information on the declared by the persons under item 1 owned securities, shares in limited liability companies and limited partnerships, registered shares in the public limited-liability companies, including acquired through participation in privatization deals outside the case of bonova (bulk) privatisation, within 30 days from the date of registration of a judgment under art. 13 of the law on Bank bankruptcy.

Within 14 days of the completion of examination by the Court of Auditors under art. 7 of the law on publicity of the property of persons occupying high government and other posts, the President of the Court of Auditors shall notify liquidators of a change in the circumstances referred to in paragraph 2.

(16) information under para. 12 are disclosed on the website of the Fund for guaranteeing bank deposits without delay after their receipt by the liquidator. Shall disclose the following information:

1. under paragraph 1. 12, item 1 – the names of the individuals, the names and legal form of legal persons, sole traders and nepersonificiranite entities, savings account balances as of the date of placing the Bank under special supervision, the type and value of the transaction;

2. under para. 12, item 2 – the names of the individuals, the names and legal form of legal persons, sole traders and nepersonificiranite entities, the maximum amount of deposit for the two-year period;

3. under para. 12, item 3 – the names of the individuals, the names and legal form of legal persons, sole traders and nepersonificiranite entities, the type and value of the transaction;

4. under para. 12 item 4 – the names of the individuals, the names and legal form of legal persons and sole proprietorship nepersonificiranite authorised legal entities, size and the maximum size of loans usvoeniât;

5. under para. 12, item 5 – names of natural persons, of them occupied position and political parties, the maximum amount of deposit for the 5-year period, the authorized size and the maximum size of loans usvoeniât;

6. under para. 12, item 6 – names of natural persons, of them occupied position, the subject and value of the contracts concluded; under value, make sure the total amount of expenditure incurred by the Bank for the period referred to in paragraph 1. 13 payments on each of the treaties.

(17) information under para. 12, contained in the report of the Parliamentary Committee, established by decision of the National Assembly, became known in connection with the verification of the facts and circumstances related to the activities of the Bank in bankruptcy proceedings, may be made public, regardless of their disclosure pursuant to para. 16. "§ 3. In art. 64, para. 1 the following endorsements are added:

1. In point 4 is added at the top "receivers".

2. an item 5 (a):

"5. The Court of Auditors for the purposes of the activities carried out by it audits of the activities of the Bulgarian National Bank;".

§ 4. In the transitional and concluding provisions of the law amending the law on credit institutions (SG. 27 by 2014) in § 80 para is created. 6:

(6) financial institutions under paragraph 1. 1 and 4 who have submitted documents for obtaining a license, respectively, for re-registration in the legal withdrawal period may continue to operate until a license registration ", respectively.

Transitional and final provisions

§ 5. Bank Bankruptcy Act (promulgated, SG. 92 of 2002; amended 67/2003, 36/2004, no. 31 and 105 by 2005, issue 30, 34, 59 and 80 in 2006 and 53/59 of 2007, 67/2008 No. 105 from 2011, no. 98 of 2014 and PCs. 22 and 41 by 2015) the following amendments and supplements shall be made :

1. In art. 39:

(a)) in the Al. 1:

AA) a new item 18:

"18. the extended time limit under art. 50, para. 1, art. 52, para. 1, art. 64, para. 1, art. 66, para. 5, art. 78, para. 1 and art. 79, para. 1 upon reasoned request of the official receiver; the request shall be made before the end of the period; "

BB) the current item 18 becomes item 19;

(b)) in the Al. 3 the words "and 17" shall be replaced by ' 17 and 18 ";

in) in the Al. 4, first sentence, the words "and 15" shall be replaced by ' 15 and 18.

2. In art. 46:

(a)) in the Al. 1:

AA) a new item 15:

"15. the authorised receivers, trustees and members of the Management Board of the Fund access to data for tracking operations relating to return of property received by the originating bank bankruptcy in the payment system for the real time gross settlement under art. 103 of the law on payment services and payment systems and TARGET2BNB system; "

BB) the current item 15 becomes p. 16;

(b)) a new para. 2:

"(2) in the cases referred to in para. 1, item 15, access shall be granted at the request of the Fund or of the receiver or the liquidator, approved by the Fund, to the Court of bankruptcy. The bankruptcy court will decide by reasoned decision in closed session no later than 24 hours from receipt of the request, determines the period to which the data relate. The Court's decision is not subject to appeal. ";

in the past) Al. 2 it al. 3.3. In art. 52, para. 1, second sentence, the figure "75 ' is replaced by ' 120 '.

4. In art. 57, al. 3 the words "within 6 months" shall be replaced by the words "within two years".

5. In chapter IV, section III creates art. 62 (a):

"Charges

Art. 62. (1) In the generated by the Bank in bankruptcy enforcement cases are not collected in advance proportional government taxes or proportional charges in the tariff for the fees and costs to the law on private enforcement agents. In these cases the proportional fee cannot be more than 30 000 EUR


(2) compulsory withdrawal and transfer in favor of the Bank in the bankruptcy of the pledged property under the law of pledge the proportional fee cannot be more than 30 000 LEVs. "

6. In art. 64, para. 1, first sentence, the words "14 days" is replaced by "30 days".

7. In art. 66, para. 5 in the text before paragraph 1 the word "3-day" is replaced by "7-day".

8. In art. 67, para. 1 the word "3-day" is replaced by "7-day".

9. In § 1 of the additional provisions establishes a point 7:

"7." TARGET2BNB "payment system is a national system component of the trans-European automated real-time gross settlement Express transfer system in real time in the euro with an operator which is built, according to the guidelines of the European Central Bank for TARGET2. '

§ 6. Provisions of this law shall also apply to insolvency proceedings of banks found pending its entry into force. In these cases, the 6-month period for the disclosure of information under art. 62, para. 12, items 1, 2, 3 and 4 and the terms of art. 62, para. 15 shall run from the date of entry into force of this law, a 6-month period for the disclosure of information under art. 62, para. 12, item 5 and 6 starts to run from the date of provision of the information referred to in art. 62, para. 15, item 2.

§ 7. National debt Act (promulgated, SG. 93 of 2002; amended 34/2005, no. 52 (2007), no. 23 of 2009, issue 101 of 2010 No. 99 by 2011, issue 103 from 2012 and 2013 15) make the following additions:

1. In art. 35 Al is created. 6:

"(6) upon termination of the Bulgarian National Bank on the participation of the participant in the Al. 1, item 2 and 3 National Bank officially transferred owned by that participant and the total of its Government securities clients when another participant – poddepozitar of Government securities, in line and in the manner laid down in the Ordinance under art. 36, para. 1. "

2. In art. 36, para. 1 creating the second sentence: "with the Ordinance referred to in the first sentence are determined and the additional conditions and procedures for the formation of a pledge under the pledge on Government securities, including the special bet under art. 152, para. 2 of the Act on public finances. "

§ 8. In the law of pledge (official SG. 100 from 1996; amend., SG. 86 of 1997, no. 42 of 1999, no. 19 and 58 of 2003, 34 and 43/2005, no. 30, 34 and 80 of 2006, issue 53, 59 and 108 in 2007 100/2008, no. 24 of 2009. , PC. 101 of 2010, PC. 38 by 2012, PCs. 15 by 2013 and St. 107 by 2014) in art. 18 Al is created. 4:

"(4) with State security the same block on the register under art. 35, para. 1, item 2 or the relevant registers under para. 4 of the law on public debt, as in the transfer operation between the registers of the bet and the scheduled circumstances on the stake is retained. The line, as well as the additional requirements for the establishment of a bet on the State security shall be determined by the Ordinance under art. 36, para. 1 of the law on the national debt. "

The law was passed by the National Assembly-43 on 25 June 2015 and is stamped with the official seal of the National Assembly.

President of the National Assembly Tsetska Tsacheva:

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