Name of law a law amending the Act on the financial supervision Commission Named the Bill the Bill amending the Act on the financial supervision Commission adoption date 26/05/2010 number/year Official Gazette 43/2010 Decree No 137
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 Act on the financial supervision Commission, adopted by the National Assembly of the HLI 26 May 2010.
Issued in Sofia on June 2, 2010.
The President of the Republic: Georgi Parvanov
Stamped with the State seal.
Minister of Justice: Margarita Popova
LAW
amending the Act on the financial supervision Commission (official SG. 8 of 2003; amend., no. 31, 67 and 112 since 2003, 85/2004, no. 39, 103 and 105 by 2005, issue 30, 56, 59 and 84 of 2006, 52/97 and 109 from the 2007 No. 67 of 2008 and no. 24 and 42 of 2009.)
§ 1. In art. 1, al. 2 the following endorsements are added:
1. In paragraph 1, after the words "the law for public offering of Securities Act" a comma and added "the law against market abuse in financial instruments, the law on investment companies".
2. paragraph 4 shall be inserted:
"4. the activity of credit rating agencies, in accordance with Regulation (EC) No 1060/2009 of the European Parliament and of the Council of 16 September 2009 on credit rating agencies (OJ L 302/1 of 17 November 2009), hereinafter referred to as" Commission Regulation 1060/2009. "
§ 2. Article 3 is amended as follows:
"The composition of the Commission
Art. 3. the Commission shall consist of five members:
1. President;
2. Vice President, supervising manage LY "Oversight of the investment activity";
3. Vice-President, head of a Department of insurance supervision ";
4. Vice President, head of a government social security supervision ";
5. the Member of the Commission, assisting its policy analysis and assessment of risks in financial markets, the improvement of the surveillance law and protecting the interests of investors, policyholders and insured persons. "
§ 3. In art. 4 make the following amendments and additions:
1. Paragraph 1 shall be amended as follows:
(1) the members of the Commission may be the only Bulgarian citizens with higher economic or legal education with a minimum educational qualification degree "master", who possess the good professional reputation, work experience and employment and/or work experience not less than 5 years in the field of law, economics or finance in the last 10 years. "
2. in the Al. 2 creates a point 7: "7. do not hold either directly or through related entities over 5 percent of the voting rights in the general meeting or of the capital of podnadzorno person. "
3. in the Al. 3 the words "the President, the Vice-Presidents and the other members ' shall be replaced by" Members ".
4. in the Al. 5, the words "para. 2, item 2 – 6 "shall be replaced by" para. 2, item 2-7 ".
§ 4. In art. 5 make the following amendments and additions:
1. Paragraph 1 shall be amended as follows:
(1) the President of the Commission is chosen by the National Assembly. "
2. a new paragraph. 2:
"(2) the National Assembly shall elect the other members of the Commission on a proposal from the President."
3. the Previous para. 2 and 3 become respectively al. 3 and 4.
§ 5. In art. 6 al. 1 shall be amended as follows:
(1) the term of Office of the members of the Commission shall be six years. The selection of new members of the Commission shall be produced not earlier than three months and not later than one month before the expiry of the term of Office of the existing members. The members of the Commission shall remain in Office and after the expiry of their term of Office until the inauguration of new members. "
§ 6. In art. 7 the following modifications are made:
1. Paragraph 2 shall be replaced by the following:
"(2) other members of the Commission receive a basic monthly remuneration amounting to 90 per cent of the remuneration of the President of the Commission."
2. Paragraph 3 shall be repealed.
§ 7. In art. 8 make the following amendments and additions:
1. In paragraph 8. 1 creating the second sentence: "the Commission shall meet at least four times a month."
2. in the Al. 4 the word "four" is replaced with "three".
§ 8. In art. 10 make the following amendments and additions:
1. In paragraph 8. the words "any Member" shall be replaced by "another Vice-Chair or a member".
2. a new paragraph. 4:
"(4) for the performance of his duties under this Act, the Member of the Commission under art. 3, item 5 shall be assisted by one or more departments of the Commission, laid down in the rules of the Commission. "
3. the Previous para. 4 and 5 become respectively al. 5 and 6.
§ 9. In art. 11 the following endorsements are added:
1. In paragraph 2 Add "including through rules and systems for managing risks in these markets".
2. paragraph 3 shall be inserted:
3. provision of adequate and stable infrastructure of financial markets. "
§ 10. In art. 12 the following endorsements are added:
1. In paragraph 1, add "in accordance with the objectives set out in art. 11. "
2. In paragraph 2, after the words "the law for public offering of Securities Act" a comma and added "the law against market abuse in financial instruments, the law on investment companies".
3. Create is item 5 and 6:
"5. the competent authority of the Republic of Bulgaria on the implementation of Commission Regulation 1060/2009;
6. develop and implement rules and management systems for risks in the financial markets. "
§ 11. In art. 13 make the following amendments and additions:
1. In paragraph 8. 1:
a) in item 4, 5 and 6, after the words "the law for public offering of Securities Act" is added "Law for special purpose companies" and a comma;
b) in item 8, after the words "the law for public offering of Securities Act" there shall be added "and the law of special purpose companies";
c) in item 10, after the words "the law for public offering of Securities Act" is added "Law for special purpose companies" and a comma;
d) a new item 12:
12. on the proposal of the responsible Vice-President shall exercise the powers conferred and shall take the measures provided for in Commission Regulation 1060/2009; "
(e) in paragraph 18), after the words "the activities of the financial markets," added, "including the competent authorities in accordance with art. 4, paragraph 3, point (h)) "and art. 5 (7) of regulation 1060/2009 "and creates a second sentence:" in the cooperation agreements define the circumstances and the conditions for mutual notification and the conduct of joint actions. ";
is n. 20) add "the supervisory policy and established practice in the application of regulations and reports on financial stability;
(g)) a new item 21:
21. at the suggestion of members of the Commission under art. 3, item 5 discussed periodically analyses and risk assessments of the financial markets; "
(h)) previous item 21 and 22 shall become item 22 and 23.
2. in the Al. 2, after the words "the law for public offering of Securities Act" is added "Law for special purpose companies," after the words "the insurance code" Union "and" shall be replaced by a comma and add "and Commission Regulation 1060/2009".
3. Paragraph 4 is replaced by the following:
"(4) in case of complaints and grievances filed against decisions of the Commission or of its bodies, the rapporteur for their study may be the only member of the Commission under art. 3, item 5, except in the cases under art. 10, para. 3, in which the Commission shall elect a rapporteur from among the Vice-Presidents.
4. in the Al. 5 the first sentence, add "including to request and receive information and documents in the case of the Commission, its authorities and administration, other State bodies and institutions, individuals and legal entities, as well as non-governmental organizations, which have a bearing on the financial markets".
5. in the Al. 6 Add "and, if necessary, to take action on the shift in policy followed and the supervisory practice in the application of regulations and render the same by the procedure of art. 9 "and the second sentence:" the authority of the Commission, whose decision is under appeal, did not participate in the discussion and vote. "
§ 12. In art. 14, para. 1 the words "the Vice-Presidents of the Commission or of its members ' shall be replaced by" another Member of the Commission ".
§ 13. In art. 15, para. 1 make the following amendments and additions:
1. In paragraph 1 the number "11" shall be replaced by "12".
2. In paragraphs 6 and 7, finally a comma and add "as well as of Commission Regulation 1060/2009".
3. In paragraph 15, after the words "the law for public offering of Securities Act" a comma and add the "Law for special purpose companies," and after the words "securities market" insert "as well as in Commission Regulation 1060/2009".
§ 14. Art is created. 17A:
"The powers of the Member of the Commission, assisting its policy analysis and assessment of risks in financial markets, improvement of market practice and protect the interests of investors, policyholders and insured persons
Art. 17. (1) the Member of the Commission under art. 3, item 5 shall assist the Commission in the development and implementation of rules and systems for managing risks in the financial markets.
(2) the Member of the Commission under art. 3, item 5 coordinated with the Vice President looks at the line specified in the rules of procedure of the Commission:
1. complaints against the Commission supervised persons;
2. proposals for improving the work of the relevant authorities of the Commission.
(3) the Member of the Commission under art. 3, item 5 self examine complaints and complaints lodged against decisions of the Commission or of its authorities.
(4) in connection with the activities referred to in paragraph 1. 2 and 3 make proposals and recommendations to the Commission and the respective Vice-Presidents on the supervisory policy and established practice in the application of the regulations. "
§ 15. In art. 18 the following amendments and supplements shall be made:
1. In paragraph 8. 1:
a) in paragraph 1, after the words "the law for public offering of Securities Act" is added "Law for special purpose companies," after the words "the law against market abuse in financial instruments" the Union "and" shall be replaced by a comma, after the words "Health Insurance Act" there shall be added "and Commission Regulation 1060/2009 ';
(b) in point 6), after the word "facilities" and "be added to the information systems", after the words "the law for public offering of Securities Act" a comma and add the "Law for special purpose companies," after the words "the law against market abuse in financial instruments" the Union "and" shall be replaced by a comma, after the words "Health Insurance Act" there shall be added "and Commission Regulation 1060/2009 ';
in point 7) at the end there shall be added "by expressing opinions, which are reflected in the minutes of the meeting.
2. paragraph 2 is replaced by the following:
"(2) for the purposes of the checks carried out supervision, at the expense of the person podnadzornoto resorniât Vice President may appoint:
1. the external auditor of the person podnadzornoto in accordance with requirements laid down by the Commission;
2. external independent experts for the evaluation of the assets of the podnadzornoto person and requires the person podnadzornoto to reflect the results of the evaluation in the financial statements. "
3. in the Al. 3 in the first sentence, the words "or of" shall be replaced by a comma, after the words "Law for special purpose companies" shall be added "or the Regulation 1060/2009".
4. Paragraph 7 shall be amended as follows:
"(7) in connection with the exercise of its powers under this Act, the Commission may request from the podupravitelâ of the Bulgarian National Bank, the supervising administrator" banking supervision ":
1. the conduct of targeted inspections of banks and presenting the results of them subject to the restrictions under art. 62 of the law on credit institutions;
2. where appropriate, the carrying out of joint inspections of banks or other financial institutions which are supervised persons to the Commission and the Bulgarian National Bank. "
5. in the Al. 8, the words "and the Agency" shall be replaced by "of the State Agency for national security and to other competent authorities."
6. a new para. 9:
"(9) for the implementation of the supervision on a consolidated basis, the Commission has the right to require the parent undertakings and subsidiaries of the persons under art. 1, al. 2 all necessary documents and information. "
7. The current paragraph. 9 it al. 10.
§ 16. In art. 19 the following endorsements are added:
1. In paragraph 8. 2, paragraph 1, after the words "the law for public offering of Securities Act" a comma and add the "Law for special purpose companies," and finally a comma and add "as well as of Commission Regulation 1060/2009, according to art. 23 thereof ".
2. in the Al. 5, item 3, after the word "facilities" and "be added to the information systems".
§ 17. In art. 20, para. 3 item 2 and 3 are amended:
2. exercise control over podnadzornoto person or hold either directly or through related entities over 5 percent of the voting rights in the general meeting or of the capital of the podnadzornoto;
3. members of the management or supervisory bodies of the podnadzornoto person, or are authorised to manage or represent a podnadzornoto person, without being members of its management or supervisory bodies; ".
§ 18. In art. 24, para. 5, paragraph 1, after the words "the law for public offering of Securities Act" a comma and add the "Law for special purpose companies."
§ 19. In art. 27 the following amendments and supplements shall be made:
1. In paragraph 8. 1, item 1, the words "and" shall be deleted and then a comma and add "as well as to carry out the registration of a credit rating agency in accordance with regulation 1060/2009".
2. in the Al. 2, the words "annex to the Act" shall be replaced by ' adopted by the Council of Ministers, on a proposal from the Commission.
§ 20. In art. 29, para. 3 make the following amendments and additions:
1. a new item 5:
"5. a summary of activities under art. 17A; ".
2. The former item 5, 6 and 7 shall become item 6, 7 and 8.
§ 21. In art. 30, para. 1 t is created. 13:
"13. the credit rating agencies, registration of registered by the Commission in accordance with Commission Regulation 1060/2009."
§ 22. Article 31 is amended as follows:
Functions and tasks
Art. 31. (1) the Advisory Board shall be set up on financial stability as a deliberative body, hereinafter referred to as "the Council".
(2) the main purpose of the Council is to promote more effective cooperation to maintain financial stability through information exchange and evaluation of the current situation and development of the financial system and financial markets in the country, the potential impact of external and internal factors and the coordination of activities in this direction.
(3) the Council shall have the following tasks:
1. assess the status of the national financial system and financial markets and ensure mutual awareness among the members of the Council in respect of market participants, the main events and trends that may have an impact on the national financial system;
2. monitor and analyse the systemic risks for the stability of the national financial system and discussed measures for impact in case of a threat to the stability of the national financial system or a financial crisis;
3. coordinate the activities in accordance with the powers of the members of the Council in the event of an imminent threat or a crisis in the national financial system and markets;
4. discuss suggestions for improving the application and practice of improving the regulation of financial markets and contribute to improving and increasing the effectiveness of supervision of the financial market participants.
(4) the Council may make suggestions and recommendations to its members in relation to the powers of the institutions represented by them in the protection and maintenance of financial stability, prevention and management of financial crisis.
(5) in the performance of their powers, the Council shall adopt decisions. Decisions shall be taken unanimously.
(6) the members of the Council are the Minister of finance, President of the Commission and the Governor of the Bulgarian National Bank, as its Chairman is the Minister of finance. At the invitation of the Council in its meetings may be present and others whose functions and tasks are relevant to financial stability.
(7) meetings of the Board shall be chaired by the Minister of finance.
(8) the Council shall be convened by the Chairman of regular meetings at least four times a year. The Council may be convened at the request of any of its members who participate in the meeting in person. Failing to participate in the meeting, the members of the Council are represented by the Deputy Minister or Junior Manager, Vice-President of the Commission, which shall notify the other members.
(9) the preparation and organisation of meetings shall be carried out by the Ministry of finance. In the performance of their duties, the Council shall be assisted by a Secretary to the President.
(10) the Council shall adopt its rules of procedure. For meetings of the Council minutes.
(11) the Council may set up working groups with experts from the Ministry of finance, National Bank and the Commission.
(12) the decision for public disclosure of information relating to the work of the Council shall be adopted by unanimous vote.
(13) all State bodies and officials shall be obliged to provide, within the limits of their powers, the assistance of the Council and to provide the necessary information in the exercise of its functions.
(14) in order to facilitate international cooperation in connection with the financial stability Board members may conclude cooperation agreements with institutions, carrying out tasks in this field in the Member States of the European Union, and other countries. "
§ 23. In § 1 of the supplementary provision the following amendments and additions:
1. a new item 5:
"5." related parties ") are: (a) spouses, lineal relatives without restrictions, collateral relatives up to the fourth degree including relatives by marriage up to the third degree inclusive;
(b) the partners);
c) any person who participates in the management of the other or of its subsidiary;
(d)), in whose faces managerial or supervisory authority involved the same legal or natural person, including when the individual represents a legal person;
e) company and a person who holds more than 10 percent of the shares or the shares issued with voting rights in a company;
is) the persons exercising control over the other;
(g)) persons whose activity is controlled by a third party or by its subsidiary;
(h)) persons who jointly control the third party or its subsidiary;
and persons), one of which is the commercial representative of the other. "
2. The former item 5, 6, 7 and 8 shall become item 6, 7, 8 and 9.
§ 24. The annex to article 2. 27, al. 2 is repealed.
Transitional and final provisions
§ 25. (1) within 14 days of the entry into force of this law, the National Assembly shall elect new members of the Commission. The term of Office of the incumbent upon the entry into force of this Act, the members of the Commission shall end with the inauguration of new members.
(2) the members of the first Commission, formed under this Act, shall be elected with a mandate: 1. President – for 6 years;
2. the Vice-President, supervising Management Oversight of the investment activity "-for 5 years;
3. the Vice-President, head of a government social security supervision "– for 4 years;
4. the Vice-President, head of a Department of insurance supervision "– for three years;
5. the Member of the Commission under art. 3, item 5 – for three years.
(3) if necessary, the incumbent upon the entry into force of this law the administrative proceedings the competent authority of the relevant proceedings may extend the delivery with no more than one month.
(4) within two months of its election, the Commission shall propose to the Council of Ministers to adopt the tariff for fees under art. 27, al. 2.
(5) within one month of the Election Commission validates the models of her statements under § 27 para. 2, § 28 para. 2 and § 29 para. 2.
(6) within two months of its election Commission sets regulations for the device and its activities in accordance with this law.
§ 26. (1) within one month from the entry into force of this Act, the Minister of Finance shall convene a meeting of the Council for financial stability.
(2) within two months of the entry into force of this law, the Council for financial stability shall adopt its rules of procedure.
§ 27. (1) regulated markets, investment firms and management companies are obliged, within three months of the entry into force of this law, to submit to the Commission a list of applicants to the real owner, who hold, directly or indirectly, 5 and more than 5 percent of the voting rights in the general meeting or of the capital of the company.
(2) to the list under para. 1 apply a declaration in a form approved by the Commission, which contains comprehensive data on the actual owners of the podnadzorno person. If necessary, the Vice-President, supervising Management Oversight of the investment activity ", within one month of receipt of the list referred to in paragraph 1. 1 may, in writing, request additional information or documents. The request shall set a deadline for the removal of limitations and the provision of additional information, which may not be longer than one month.
(3) upon failure to comply with the requirements under paragraph 1. 1 and 2, as and when the information or documents do not allow to carry out the identification of beneficial owners:
1. the Vice-President may apply the measures referred to in art. 118, para. 1, item 1 of the law on markets in financial instruments, respectively, under art. 212, para. 1, item 1 of the law on public offering of securities;
2. failure to carry out the measures referred to in paragraph 1 the Vice-President may apply the measures referred to in art. 40, para. 3 of the law on markets in financial instruments, respectively, under art. 210, para. 5 of the law on public offering of securities in connection with art. 40, para. 3 of the law on markets in financial instruments;
3. failure to carry out the measures referred to in paragraphs 1 and 2, the Commission may apply the measures referred to in art. 20, para. 1, item 5 of the law on markets in financial instruments, respectively, under art. 208, para. 1, item 6 of the law on public offering of securities.
(4) the provisions of paragraphs 1 and 2. 1-3 shall not apply to public companies within the meaning of the law on public offering of securities, unless the Commission decides, at its sole discretion, to require such information for the purposes of the tender proposed in Chapter Eleven, section II, of the Act on public offering of securities.
(5) the Commission shall update the information on the ownership of the podnadzornite persons under para. 1 in the public registers under art. 30, para. 1.
§ 28. (1) insurers ' reinsurance, insurance brokers and health insurance companies are obliged, within three months of the entry into force of this law, to submit to the Commission a list of applicants to the real owner, who hold, directly or indirectly, 5 and more than 5 percent of the voting rights in the general meeting or of the capital of the company.
(2) to the list under para. 1 apply a declaration in a form approved by the Commission, which contains comprehensive data on the actual owners of the podnadzorno person. If necessary, the Vice-President, the supervising administrator "insurance supervision", within one month of receipt of the list referred to in paragraph 1. 1 may, in writing, request additional information or documents. The request shall set a deadline for the removal of limitations and the provision of additional information, which may not be longer than one month.
(3) upon failure to comply with the requirements under paragraph 1. 1 and 2, as and when the information or documents do not allow to carry out the identification of beneficial owners:
1. the Vice-President may apply the measures referred to in art. 302, para. 2, item 1 of the insurance code, according to art. 99 n, al. 2, paragraph 1 of the law on health insurance;
2. failure to carry out the measures referred to in paragraph 1 the Vice-President may apply the measures referred to in art. 302, para. 2, item 9 of the insurance code, according to art. 99 n, al. 2, item 7 of the law on health insurance;
3. failure to carry out the measures referred to in paragraphs 1 and 2, the Commission may apply the measures referred to in art. 36, para. 1, item 7 or art. 302, para. 3, item 2 of the insurance code, respectively, under art. 99 b, para. 1, item 10 of the law on health insurance.
(4) the provisions of paragraphs 1 and 2. 1-3 shall not apply to insurance undertakings within the meaning of the insurance code.
(5) the Commission shall update the information on the ownership of the podnadzornite persons under para. 1 in the public registers under art. 30, para. 1.
§ 29. (1) companies for additional social security are required within three months of the entry into force of this law, to submit to the Commission a list of applicants to the real owner, who hold, directly or indirectly, 5 and more than 5 percent of the voting rights in the general meeting or of the capital of the company.
(2) to the list under para. 1 apply a declaration in a form approved by the Commission, which contains comprehensive data on the actual owners of the podnadzorno person. If necessary, Deputy Chairman, head of a government social security supervision ", within one month of receipt of the list referred to in paragraph 1. 1 may, in writing, request additional information or documents. The request shall set a deadline for the removal of limitations and the provision of additional information, which may not be longer than one month.
(3) upon failure to comply with the requirements under paragraph 1. 1 and 2, as and when the information or documents do not allow to carry out the identification of beneficial owners:
1. the Vice-President may apply the measure under art. 344, para. 1, item 1 of the social security code;
2. failure of the measure referred to in paragraph 1 the Vice-President may apply the measure under art. 344, para. 1, item 7 of the social security code;
3. failure to carry out the measures referred to in paragraphs 1 and 2, the Commission may apply the measures referred to in art. 122, para. 2, item 2 of the social security code.
(4) the Commission shall update the information on the ownership of the podnadzornite persons under para. 1 in the public registers under art. 30, para. 1.
§ 30. In the law on markets in financial instruments (promulgated, SG. 52 of 2007; amend., SG. 109 (2007), no. 69 since 2008 and no. 24, 93 and 95 of 2009) make the following amendments and additions:
1. In art. 13, para. 2, t. 7, after the word "on" is added "actual owners and their".
2. In art. 16:
(a)) in the Al. 1:
AA) create a new item 11 and 12 and 13:11. It considers the activity that the applicant intends to carry out, does not provide the reliability and financial stability;
12. in its judgment the amount of the property holdings of the persons saved 10 and more than 10 percent of the capital and/or developed by them in its scale activity and financial results do not correspond to its requirements to acquire shareholding in the applicant and cast doubt on the reliability and suitability of these persons, if necessary, to provide capital support to the applicant;
13. the origin of the means by which the persons saved 10 and more than 10 percent of the capital, have made contributions, there is no clear and legitimate; "
BB) the current item 11 shall become item 14;
(b)) in the Al. 2 the words "11" shall be replaced by "14";
in) a new para. 4:
"(4) the Commission may refuse to issue a license if they cannot identify the actual owners of the shareholder with a qualifying holding.";
d) past al. 4 it al. 5.3. In art. 26, al. 1, after the words "misrepresentation" is added "or if you cannot identify the actual owners of the shareholder with a qualifying holding".
4. In art. 81:
a) a new para. 2:
"(2) the Commission may refuse to issue a license if they cannot identify the actual owners of the shareholder with a qualifying holding.";
(b)) the previous para. 2 and 3 become respectively al. 3 and 4.
§ 31. In the public offering of securities (official SG. 114 since 1999; amend., SG. 63 and 92 of 2000, issue 28, 61, 93 and 101 in 2002, no. 8, 31, 67 and 71 in 2003, 37/2004, no. 19, 31, 39, 103 and 105 by 2005, issue 30, 33, 34, 59 , 63, 80, 84, 86 and 105, 2006, issue. 25, 52, 53 and 109 from 2007, PCs. 67 and 69 by 2008 and PC. 23, 24, 42 and 93 from 2009.) make the following changes and additions:
1. In art. 204, para. 2, item 6, after the word "on" is added "actual owners and their".
2. In art. 205:
(a)) in the Al. 1:
AA) create new item 8 and 9 and 10:
' 8. it considers the activity that the applicant intends to carry out, does not provide the reliability and financial stability;
9. in its judgment the amount of the property holdings of the persons saved 10 and more than 10 percent of the capital and/or developed by them in its scale activity and financial results do not correspond to its requirements to acquire shareholding in the applicant and cast doubt on the reliability and suitability of these persons, if necessary, to provide capital support to the applicant;
10. the origin of the means by which the persons saved 10 and more than 10 percent of the capital, have made contributions, there is no clear and legitimate; "
former BB) item 8 and 9 become respectively 11 and 12;
(b)) in the Al. 2, the words "and 9 ' shall be replaced by ' and 12 ';
in) a new para. 4:
"(4) the Commission may refuse to issue a license if they cannot identify the actual owners of the shareholder with a qualifying holding.";
d) previous al. 4 and 5 become respectively al. 5 and 6.
3. In art. 212 Al are created. 8 and 9:
"(8) the Commission apply the measures provided for under art. 24 (1) (a)) "," (b)) "and") "and under art. 25 (1), the letters "c" and "d)) of Regulation (EC) No 1060/2009 of the European Parliament and of the Council of 16 September 2009 on credit rating agencies (OJ L 302/1 of 17 November 2009), hereinafter referred to as" Commission Regulation 1060/2009 ".
(9) the Vice-Chairman shall apply the measures provided for in art. 24, paragraph 1, points (d), (e) ")") "and") "and under art. 25 (1) (a)) "and" (b)) of regulation 1060/2009. "
4. In art. 213:
(a)) in the Al. 1, after the words "art. 212, para. 1, item 5, 6 and 7 "a comma and add" as well as under art. 212, para. 8 ";
(b)) in the Al. 4, after the words "art. 212, para. 1, item 1 – 4, 8 and 9 ' shall be added "as well as under art. 212, para. 9, after the words "art. 212, para. 1, item 5, 6 and 7 ' shall be added "as well as under art. 212, para. 8. "
5. In art. 221:
(a)) in the Al. 1 item 5 is created:
' 5. the Commission Regulation 1060/2009 is punishable by a fine in the amount of 10 000 to 20 000 BGN.;
(b)) in the Al. 2 item 5 is created:
"5. for violations under para. 1, item 5 – 20 000 to 30 000 LEVs. ";
in) in the Al. 6, after the words "art. 212, para. 1, item 1, 2, 4, 6 and 8 "a comma and add" as well as under art. 212, para. 8 and 9; "
(d)) in the Al. 8:
AA) a new item 5:
"5. for violations under para. 1, item 5 – 20 000 to 30 000 BGN, and for repeat offenders, from 30 000 to 40 000 BGN.; "
BB) the current item 5 and 6 shall become item 6 and 7.
§ 32. In the insurance code (promulgated, SG. 103 from 2005; amend., SG. 105 by 2005, issue 30, 33, 34, 54, 59, 80, 82 and 105 of 2006, issue 48, 53, 97, 100 and 109 from the 2007 No. 67 and 69 by 2008, 24 and 41/2009 and no. 19 of 2010) the following amendments and supplements shall be made :
1. In art. 16A:
(a)) in the Al. 5, first sentence, after the word "incomplete" there shall be added "or unable to identify his actual owners";
(b)) paragraph 13 shall be replaced by the following:
(13) a person who acquires one or more percent of the shares of insurance joint stock company or increase its involvement so that it exceeds one percent of the shares of the company, shall not later than 14 days after the acquisition or increase of the participation to identify the real owner to the Vice-President and submit the declarations referred to in para. 1, item 1 and 2 and the Declaration of absence of debts to the State and the municipalities and document thereof paid taxes for the past three years. "
2. In art. 16 (b), para. 4, paragraph 1, the words "final beneficiary" are replaced by "real owner".
3. In art. 30: a) in the Al. 1 item 4 and 5 are amended:
"4. applications together with the annexes referred to in art. 16 a, para. 1 and a declaration in a form on the actual owners – for individuals who acquire part of art. 16, al. 1;
5. the declarations under art. 16 a, para. 1, paragraphs 1 and 2, Declaration on the absence of debts to the State and the municipalities, for document of them paid taxes for the past three years – for individuals who acquire one or more percent of the shares of the insurance joint stock company; "
(b)) in the Al. 4 item 3 shall be replaced by the following: "3. the declarations under art. 25, para. 2 in connection with art. 16 a, para. 1, item 1 and 2 and the Declaration of absence of debts to the State and the municipalities and document of them paid taxes for the past three years – for individuals who acquire one or more percent of the shares of the reinsurance company; ".
4. In art. 34:
(a)) in the Al. 1:
AA) point 2 is replaced by the following: "2. one of the members of the management and control of the applicant or persons authorized to manage it and represent, does not comply with the requirements of this code or if the activities or their influence on decision-making could harm the security of the company or its operations;"
BB) in paragraph 3:
AAA) in (c) shall be added to the end, "real owner";
BBB) creates the letter ' (d) ':
"(d)), the size of the holdings of these assets and/or developed by them in its scale activity and financial results do not correspond to its requirements to acquire shareholding in the applicant and cast doubt on the reliability and suitability of these persons, if necessary, to provide capital support to the applicant;"
BB) in paragraph 8, add "or when the activity that the applicant intends to carry out, not providing the reliability and financial stability;
yy) a new item 9:
"9. the means by which the persons saved one and more than one per cent of the capital, have made contributions, are borrowing or with obscure or illegal origin;"
DD) becomes the current item 9 item 10;
(b)) in the Al. 2, the words "and 9 ' shall be replaced by" and 10 ";
in) in the Al. 5, first sentence, the words "and 9 ' shall be replaced by" and 10 ".
§ 33. In the social security code (promulgated, SG. 110 since 1999, Decision of the Constitutional Court No. 5 of 2000 – 55/2000; amend., no. 64 of 2000, issue 1, 35 and 41 of the 2001, issue 1, 10, 45, 74, 112, 119 and 120 of 2002, no. 8, 42, 67, 95, 112, and 114 from 2003. , PC. 12, 21, 38, 52, 53, 69, 70, 112 and 115 of 2004, PCs. 38, 39, 76, 102, 103, 104 and 105 of the 2005 St. 16, 30, 34, 56, 57 and 68 by 2006; Corr, PCs. 76 of 2006; amend., SG. 80, 82, 95, 102 and 105, 2006, issue. 41, 52, 53, 64, 77, 97, 100, 109 and 113 of 2007, PC. 33, 43, 67, 69, 89, 102 and 109 from 2008, PCs. 23, 25, 35, 41, 42, 93, 95, 99 and 103 of 2009 and PCs. 16 and 19 of 2010.) make the following changes and additions:
1. In art. 121 (g) Al is created. 7: "(7) Vice-President may refuse authorisation if you cannot identify the actual owners of the person."
2. In art. 122 (a), para. 3 item 1 shall be replaced by the following: "1. declarations under the approved by the Vice-President of the Commission concerning their actual owners and the origin of the funds from which contributions are made against stored raids, and that they are not lending;".
3. In art. 122 in:
and the current text) became al. 1 and in it:
AA) point 3 shall be replaced by the following:
"3. any member of the management and control bodies or shareholders, who hold either directly or through affiliates, 10 and more than 10 percent of the capital of the company, does not meet the requirements of art. 121 (e) and article. 121 (g), para. 1, or if the activities or their influence on decision-making could harm the security of the company or its operations; "
BB) item 5 are created – 9:5. It considers the activity that the applicant intends to carry out, does not provide the reliability and financial stability;
6. in its judgment the amount of the property holdings of the persons saved 10 and more than 10 percent of the capital and/or developed by them in its scale activity and financial results do not correspond to its requirements to acquire shareholding in the applicant and cast doubt on the reliability and suitability of these persons, if necessary, to provide capital support to the applicant;
7. the origin of the means by which the persons saved 10 and more than 10 percent of the capital, have made contributions, there is no clear and legitimate;
8. because of the connectivity between the applicant and the other persons may experience significant difficulties for the exercise of effective control;
9. at its discretion, or difficulties in implementing individual legislative or administrative provisions of a third country governing one or more legal or natural persons with whom the applicant has close links, will prevent the effective exercise of the supervision of the Commission. ";
(b)) is hereby set up al. 2:
"(2) the Commission may refuse to issue a licence if a pension cannot identify the actual owners of the shareholder who owns directly or through affiliates, 10 and more than 10 percent of the capital of the company."
§ 34. In the law on health insurance (official SG. 70 of 1998; amend., SG. 93 and 153 of 1998, no. 62, 65, 67, 69, 110 and 113 in 1999, issue 1 and 64 in 2000, 41/2001, no. 1, 54, 74, 107, 112, 119 and 120 of 2002, no. 8, 50, 107 and 114 from 2003. , PC. 28, 38, 49, 70, 85 and 111 in 2004, PCs. 39, 45, 76, 99, 102, 103 and 105 of 2005, St. 17, 18, 30, 33, 34, 59, 80, 95 and 105, 2006, issue. 11 of 2007; Decision of the Constitutional Court No. 3 of 2007 – PCs. 26 of 2007; amend., SG. 31, 46, 53, 59, 97, 100 and 113 of 2007, PC. 37, 110 and 71 of 2008, PCs. 35, 41, 42, 93, 99 and 101 of 2009 and PCs. 19 and 26 of 2010.) make the following changes and additions:
1. In art. 95, para. 2 item 1, add "as well as a list of actual owners – for the legal persons".
2. In art. 99:
(a) in item 2) add "and if you cannot identify the actual owners of the shareholder who owns directly or through affiliates, 10 and more than 10 percent of the capital of the company";
(b)) that are 6-9:
"6. in the opinion of the Commission the activity that the applicant intends to carry out, does not provide the reliability and financial stability;
7. in the opinion of the Commission the amount of the property holdings of the persons saved 10 and more than 10 percent of the capital and/or developed by them in its scale activity and financial results do not correspond to its requirements to acquire shareholding in the applicant and cast doubt on the reliability and suitability of these persons, if necessary, to provide capital support to the applicant;
8. the origin of the means by which the persons saved 10 and more than 10 percent of the capital, have made contributions, there is no clear and legitimate;
9. because of the connectivity between the applicant and the other persons may experience significant difficulties for the exercise of effective supervision. "
§ 35. (1) Paragraph 24 shall enter into force on the date of entry into force of the rate referred to in art. 27, al. 2. (2) the import fees on the incumbent until the entry into force of the rate referred to in art. 27, al. 2 administrative proceedings shall not be subject to return.
(3) pending the entry into force of the rate referred to in art. 27, al. two credit rating agencies pay a fee to carry out the registration in the amount of 10 000.
The law was adopted by 41-Otto National Assembly on 26 May 2010 and is stamped with the official seal of the National Assembly.
President of the National Assembly Tsetska Tsacheva:
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