Key Benefits:
Chapter 1 Scope of application
Chapter 2 RealCredit Loans
Chapter 3 Remission of mortgage credit bonds
Chapter 4 Hidety relations, etc.
Chapter 4 a Especially covered real-mortgage bonds, and especially covered bonds.
Chapter 5 Supervision
Chapter 6 Appeal access
Chapter 7 Penalty provisions
Chapter 8 Entry into force and transitional provisions
Completion of mortgages and mortgage bonds on mortgage bonds and so on. 1)
This is an order for mortgages and mortgage bonds, etc., and so on, cf. Law Order no. 1412 by 10. In December 2007, with the changes that follow section 3 of the Act No 219 of 5. April 2008, section 6 of law no. 515 of 17. June 2008 and section 3 of the law no. 517 of 17. June 2008.
Scope of application
§ 1. This law applies to mortgage bonds, in particular covered mortgage bonds, in particular covered bonds and other securities issued by mortgage payments and mortgages which are granted on the basis of such loans. In addition, the law applies to the issuance of mortgage bonds to foreign credit institutions in this country and mortgage loans granted on the basis of such loans.
Paragraph 2. For foreign credit institutions ' operations, cf. paragraph ONE, TWO. PC alone applies to the section § 2-19 and 34-43. However, for foreign credit institutions that are congloment with Danish mortgage credit institutions, section 20 and 21 shall apply.
RealCredit Loans
mortgages security
§ 2. RealCredit loans shall be granted against the registration of fixed assets in accordance with the rules laid down in this Chapter. Loans without mortgage on solid property may be granted to public authorities or to the self-debtor guarantee from a public authority referred to in § 152 c (1). 1, no. 3-5, in the law of financial activities.
Paragraph 2. Credit loans shall not be granted against collateral in the form of owning letters and indemtees. However, in cases where mortgages are guaranteed for mortgages, the indemnable debtor may be used for the application of the solution.
Paragraph 3. Realmortgmortgmortgmortgmortgmortgmortgmortgmortgage, cf. paragraph ONE, ONE. point, loans where the pantheon has been reported to be reported if the necessary security for the final state of the panthebank and without undue delay is provided by the end of the end of the pawn letter ; this applies only to : loans granted on the basis of specific covered mortgage bonds.
Liars and dragons
§ 3. The maximum duration is 30 years, cf. however, paragraph 1 2. For the duration of the loan and the drainage profile, account shall be taken of the expected value degradation of the pan and the credit limits for the panty in force, cf. § 5.
Paragraph 2. The maximum duration is 35 years for loans for public housing, youth housing and private cooperative housing, provided that the loan is based on pledges for support under the law of public housing, as well as supporting private cohabitat and other areas of support.
§ 4. Loans for the whole-year-use and leisure houses may, regardless of their security, be slower than a 30-year loan, which is amortized over the maturity of a service which is a fixed percentage of the main chair ; (annuity loan), cf. however, paragraph 1 2.
Paragraph 2. The requirement of paragraph 1. 1 may be waisted for a period of up to 10 years under the observation of section 3 (3). ONE, TWO. Act.
Locks limits and so on
§ 5. Within a loan limit of 80%. the property value of the property may be granted to the following property categories :
1) Ownerhousing for the whole year.
2) Private cohabiters.
3) Private residential estate, for hire, including recreation housing.
4) Alley housing.
5) Juvenile housing.
6) Elder housing, etc.
7) Property for social, cultural and educational purposes.
Paragraph 2. Within a 70% loan limit. the value of the property may be granted loans to wheeled agricultural and forestry, gardeners and so on.
Paragraph 3. Within a loan limit of 60%. the property value of the property may be granted to the following property categories :
1) Fritidshuse.
2) Office and business end.
3) Industrial and craft service.
4) Collective energy supply facilities.
Paragraph 4. Within a loan limit of 40%. of the property value, loans may be granted to other properties, including unfounded reasons.
§ 6. (lifted)
§ 7. Loans may, however, be granted in addition to the credit limit for the inward of both mortgages and mortgages in the form of a loan. Loans after 1. Act. be measured with a maximum of cash equivalent to the amount of the deposit and the cost of the refund and the granting of loans.
Paragraph 2. Loans may only be granted in accordance with paragraph 1. 1, where the safety of the pan-security is not significantly degraded.
Paragraph 3. Paragraph 1 shall apply mutatis mutable to mortgage credit in another institution, where the valuation for the purposes of the measurement of the original loan has been carried out on the basis of approved purchase sums under the rule of public housing ; Private co-housing and so on, the law on housing, or the law on housing for the elderly and persons with disabilities.
Paragraph 4. For loans granted for the depositing of loans in certain non-profit housing projects, cf. law on the reprioritizing, and so on, of the reprioritising of the housing department and so on, unable to pay, due mortgage payments to be included on the basis of the loan-based measurement basis.
Payment against warranty, etc.
§ 8. Where the conditions for the payment of the loan are otherwise fulfilled, loans may be granted even though the pawn letter has been stapled with prejudice to the preconditions of prejudice, provided that security is provided to ensure that they are deleted.
Paragraph 2. Where the conditions for the payment of the loan are otherwise fulfilled, a loan may be granted without a registered pantheon, provided that the safety of the registered pantheon letter is lodged with the security of the registered pastry.
Paragraph 3. Where the conditions for the payment of the loan are otherwise fulfilled, loans may be granted, even though borrowers have not registered the property, provided that security is provided to ensure that the borrower is finally given access to the property.
Paragraph 4. Where the conditions for the payment of loans are, moreover, fulfilled, loans may be granted without it in section 11 (1). The document referred to in paragraph 3 shall be the subject of a document, provided that such a document is lodged.
Paragraph 5. Loans may be granted on the basis of the anticipated value of the property in the event of a guarantee that the loan will be lodged or reduced if the loan is not due to the end of the time limit for the construction of the building ; completion could have been granted with the amount granted.
Paragraph 6. To the extent a loan has been issued on the basis of specially covered mortgage bonds and in particular covered bonds, the payment of the loan may be disbursed before final lighting, cf. paragraph 1-5, if security is provided for in accordance with section 152 c (1). 1, no. 3-7, in the law of financial activities. If the security is provided in the form of a guarantee from a financial institution, the guarantee will be covered by the 15-percent limit resulting from Article 152 c (2) (c). 1, no. 6 and 7, in the case of financial activities, unless the guarantee is lodged in accordance with section 152 c (1). 1, no. ONE, TWO. pkt;, in the law of financial activities, or Section 2 (2). However, this guarantee shall be included in the 15-percent limit if it is ordered in accordance with paragraph 1. 3, 4 or 5.
Paragraph 7. The SEC may lay down rules for the granting of loans and so on in accordance with paragraph 1. 1-6.
Paragraph 8. The financial supervision may be dispensers from the requirement referred to in paragraph 1. SIX, THREE. ptangle that guarantees, which are ordered under paragraph 1. 3, shall be included in the 15% limit.
§ 9. In the security base for a credit institution ' s obligations, mortgages may be mortgaged to housing and in-assisted housing financed with mortgages with state benefits which are being priorititiated in accordance with the law of certain non-profit the priority of housing distribution and so on, and pawn letters for inconvertable loans taken by the Financial Authority pursuant to the Act on the mitigation of deposits of inconverted mortgage credit loans and so on, shall be replaced by a similar claim ; Treasury. The proclamations may, in whole or in part, be extracted from the deposits of the state credit institution to the mortgages corresponding to the mortgage corresponding to mortgage bonds.
Paragraph 2. Contains of rights over debt securities whose safety grounds are subject to and as amended by paragraph 1. 1, may not require the bonds or in any other way make claims applicable to the mortgage credit institution.
valuation of property and the metering of mortgage credit
§ 10. The credit institution must employ a cash value of the property for use of the loan measurement.
Paragraph 2. The value must be within the amount obtained by a competent acquiring knowledge of the price and market conditions of the type of property concerned may be estimated to pay for the property (market value). Concrete claims must not be included in the valuation of values.
Paragraph 3. The general credit institution shall take account of any possible risk of changes in market or structural conditions.
Paragraph 4. The general credit institution may derogate from paragraph 1. 2 and 3 in the following cases :
1) The acquisition of goods and character restock shall be added to the valuation of estates for social, cultural and educational purposes, where this is reasonable, taking into account the operational performance of the property, alternative ; conditions of use and market conditions ; However, the acquisition sum may not be added to property driven by business principles.
2) The acquisition of the amount of the restock of the fraction and character can be added to the valuation of industry and craft service and collective energy supply facilities, where this is justifiable taking account of the creditworthiness of borrowers and from the the earning capacity of the displaced persons. The precondition for this is that the property owner or company connected with the owner spends more than half the property.
§ 11. Loans may be granted on the basis of real estate owned by borrowers. As debtors, as debtors, as debtors, as debtors, as debtors, as debtors, as debtor, shall be however, paragraph 1 Two and three.
Paragraph 2. The provision in paragraph 1 shall be ONE, TWO. provisions may be waived if the loan is granted under particular legislation in the field of the soil.
Paragraph 3. Loans may be granted on the basis of an ideal part of a real estate, provided there is a tingle document which assigns a tingle of rights to the other than the other. Each Addente to the ideal part of the debtor shall be denoted to the debtor.
Paragraph 4. In addition to property and buildings, buildings can be built in, cf. the section 38 of the act as well as the section 37 (5) of the paragraph of the piece of information. 1, the accessories which are subject to the possession of a pawn in the property shall be included in the valuation of the property.
Paragraph 5. On the valuation of the property, no matter where paragraph is, 4 is included in the property hearing accessories which are not covered by the pawn of possession in the real estate, cf. section 37 and 38 of the matter provided that sole reason is that the accessories are owned by a person other than the owner of the property owner and, where the loan in the fixed property is ensured, in this accessories under the Clause Section 47, or Section 47 (b) (b) 2.
Paragraph 6. The property loan for estates other than collective energy supply facilities can only be granted on the basis of the value of property and buildings, as well as building-flax, cf. The paragraph 38 of this thing.
§ 12. The SEC provides detailed rules for valuation.
Paragraph 2. The SEC may lay down restrictions on access to accessories as referred to in section 11 (1). 4.
Paragraph 3. The SEC may lay down rules on access to derogating from Article 10 (1). 2 and 3, when mortgages are owned by public authority and by lending to full public guarantee.
§ 13. The loan is measured in such a way as to cover the amount of the cash provided for in section 5 to 7 for the relevant property category.
Paragraph 2. The SEC lays down rules on loan readings.
§ 14. The SEC shall lay down rules on which properties belong to the individual property categories, and on the introduction of loans, if the property is transferred to another property category.
Paragraph 2. If a property consists of several property categories, valuation and loan measurement must be carried out separately for the individual property categories, cf. however, paragraph 1 3.
Paragraph 3. If a property category is at least 80%. of the property overall gross eFloor area, the entire property may be mortgated according to the rules of this property category.
§ 15. (The case).
RealCredit loans outside Denmark
§ 16. The financial supervision may allow the provisions of the law to be deviated from borrowing on the Faroe Islands and in Greenland, to the extent to which it is attributed to the special conditions in these parts of the country.
§ 17. For loans outside Denmark, the Faroe Islands and Greenland are not applicable, section 4 does not apply.
Paragraph 2. The SEC may dispensers from Section 2 (2). TWO, ONE. pkt;, on loan outside Denmark, the Faroe Islands and Greenland. In specific cases, the Financial Regulation may also dispose from the rules for maximum maturity in section 3.
Paragraph 3. The SEC may lay down lower loans than the loans referred to in section 5 of a mortgage lending outside Denmark, the Faeroe Islands and Greenland.
Paragraph 4. Realders can outside Denmark, the Faroe Islands and Greenland lend loans beyond the loan limits to the self-debtor guarantee from a public authority, credit institution, or insurance company. However, where the guarantee has been lodged by a credit institution or an insurance company, the loan may be granted only on the basis of the issue of securities other than mortgage bonds.
Remission of mortgage credit bonds
Ended
§ 18. Reallending institutions with permission here in the country have the sole right to issue mortgage bonds in this country.
Paragraph 2. Notwithstanding paragraph 1 A foreign credit institution may issue mortgage bonds in this country if the institution is able to conduct business as a credit institution in this country, in accordance with the law of financial activities, in this country, and meets the following conditions :
1) The bulk of the Foundation ' s activities shall be loans from the mortgage on solid property on the basis of the issuance of bonds or other securities. If the Institute is affiliates with a Danish mortgage credit institution, the Foundation shall also comply with the business area of Danish mortgage institutions in the law of financial activities.
2) The institution's lending and debt securities must be regulated by a balance principle. In the case of the Institute, the institution shall also comply with sections 20 and 21.
3) Realcreditobonds issued by the Institute in this country must, in accordance with the legislation of the home Member State, grant the holder the same legal position as the holders of mortgage bonds in accordance with section 27.
Obligation and balancing principle
§ 19. Realcreditobonds issued before 1. July 2007 must be a negotiable mass debt correspondence engaged in trade in regulated markets in countries of the European Union or countries concluded by the Community in the area of the financial area or similar markets in other countries.
20. Funds obtained by issuing mortgage bonds or in particular covered mortgage bonds or other securities may only be used for lending against mortgages or loans to public authority or to the self-indebted guarantee from a public authority, cf. however, paragraph 1 Two and three. However, additional security may be provided for in particular covered real credit bonds in accordance with section 33 d (1). 1.
Paragraph 2. The Financial supervision may lay down rules that a limited amount of money may be used for anything other than the mortgage on immovable property.
Paragraph 3. The financial supervision may allow the granting of mortgage bonds and other securities to be issued in a mortgage credit institution to finance mortgage credit in another mortgage credit institution.
§ 21. The SEC shall lay down detailed rules on the restriction of risks related to the issue of mortgage bonds, in particular covered mortgage bonds, in particular covered bonds and other securities, including the interest-rate risks, valutarisici, and recovery risks.
Hidety relations, etc.
§ 22. The granting of mortgages and the issuance of mortgage bonds and other securities to finance it may take place in a series. Repayment of mortgage bonds and other securities cannot be in the same series.
Paragraph 2. The conditions governing a series may be determined that the proprietor of mortgage bonds or other securities alone may correct their requirements against the series or series that shall be severally associated with that, cf. section 24 (2). 4.
-23. For the loan, the borrowers, both with the pawned and personal face of the series, respectively, respectively, shall be the subject of the mortgage-lending institution.
Paragraph 2. Moreover, for the commitments entered into by the mortgage and credit institution, the borrowers shall not be liable.
§ 24. It may in the terms of a series set out that the borrowers, in addition to the loan, shall be jointly severed with the series corresponding to a specified share of the panthewidth principal, with deduction of a proportionate share of the resources of the series fund. The Låntas are not personally liable for this amount.
Paragraph 2. A series or group of series with seriereservefund can absorbed hybrid core capital and responsible pawn capital. The solidarity provided for in paragraph 1. Paragraph 1 may not be applied to the lender to cover requirements from the use of hybrid core capital and responsible loan capital. For series of remittance obligations, opened before the 1. 1. 1973. Act. do not apply.
Paragraph 3. A series of series or series of series of series with a series of reserves shall not be liable for the commitments entered into by the mortgage-lending institution.
Paragraph 4. In the terms of a series, the series will be determined that the series shall be liable for the obligations of other serial numbers. Such a condition may be fixed only if these other comics contain similar conditions. In a series, like one after one. Act. where there is reciprocal liability, a mortgage bond may be granted only, cf. Section 22 (2). ONE, TWO. Act.
§ 25. in the case of a series in which the borrowers shall show solidarity or where provision has been made in accordance with section 22 (2). 2, the real credit institution shall set up a serierian fund. For other series or series of series, the institute may select to create a seriereservefund.
Paragraph 2. It may be determined in the statutes or borrowing terms that the lenders of the loan are required to be paid a share of the Serial Fund.
Paragraph 3. The income of the show is comprised of interest and comparative letters, deposits, contributions, fee and similar income, and the return of the series ' s assets and non-balance sheet items. The cost of the show is made up of interest and similar securities and other securities, payments of reserve stock units, administrative expenses and similar costs incurred by recording and initiating hybrid core capital and responsible ; loan capital, losses and provisions for the likely loss of the series ' s assets and non-balance sheet items as well as the proportion of the tax of the mortgage credit institution.
SECTION 26. The funds for the fund must be kept separate from other funds in the real credit institution.
Paragraph 2. The transfer of funds to a series or group of series of series of series with a series of series of reserves from the real credit institution shall also be carried out where necessary to satisfy the solvency requirement of the series or series of series, unless such a transfer, shall mean that the real credit institution will no longer be able to comply with the solvency requirement.
Paragraph 3. The credit institution may stipulate that funds from a series or group of series of series of series of series with the real-world credit institutions may be transferred if the serial fund is or is greater than required.
Paragraph 4. Financial instruments must be included as assets or liabilities in a series or series of series of series with a series of series reserves if they are used to uncover the risks between assets relating to on the one hand, and on the other hand they issued ; mortgage bonds, in particular covered mortgage bonds, and in particular covered bonds, if the financial instrument is determined by the financial instrument of the mortgage payment, bankruptcy or failure to comply with the obligation to to provide additional security after paragraph 33 d (1), 1 is not default.
Paragraph 5. The SEC provides detailed rules for the series.
§ 27. Where a real credit institution is bankrupted, the resources of the series shall be used after deduction of the costs of the treatment and the like, including the training of the curator, personnel, etc., to the payment of claims from holders of mortgage bonds, in particular covered mortgage bonds, in particular covered bonds and other securities in the series or group of series with series reserves and claims on the expiry of the claims by the bankruptcy decree on the claims referred to. They shall then be covered in section 25 (3). The debt referred to by the mortgage credit institution shall be covered by the obligation to provide additional security, in accordance with the requirements of the mortgage credit institution. § 33 e. Overshooting agents are then included in the bankruptcy case, cf. bankruptcy slop. Section 32.
Paragraph 2. Where a real credit institution is bankrupted, funds shall be used after deduction of the costs of the proceedings for the treatment and the like, including the curator, staff, etc., in the institute, in the case of payment of the requirements of holders of mortgage bonds and other securities that have not been issued in series with serial reserves, and the claims of the decrees of the bankruptcy decree on expired amounts receivable. Funds that are used after 1. pkta, however, may not exceed the amount of the mortgage bonds and other securities corresponding to the mortgages and an amount equal to 8%. of the risk-weighted value of the pan-width. Overshooting agents are then included in the bankruptcy case, cf. bankruptcy slop. Section 32.
Paragraph 3. Where a real credit institution is bankrupted, the counterparty of the financial instruments has been concluded to cover risks in a series or group of real-credit bonds, in particular covered mortgage bonds, or in particular covered bonds, cf. Section 26 (1). 4, bankruptcy court with the proprietors of mortgage bonds, in particular covered mortgage bonds, or in particular covered bonds in the series or group of series, cf. paragraph ONE, ONE. pkt., and sections 31 and 32.
§ 27 a. The holders of debt securities which have lost the description in particular covered mortgage bonds, or in particular covered debt securities, cf. Section 33 d (d) 2, and counterparts on the financial instruments maintain the legal status of bankruptcy which is granted to holders of special covered mortgage bonds, in particular covered bonds and financial counterparts. The debt equivalent shall apply to debt securities which the real credit institution is concerned with in order to provide additional security, cf. § 33 e.
Paragraph 2. The provisions of section 27 b and 28-33 shall apply mutatis mutilated to debt securities which have lost the description of the mortgage bonds in particular, or in particular covered bonds, and financial instruments.
§ 27 b. Provenu from loans to which mortgage credit institutions are required to provide additional security shall be required, cf. Section 33 d (d) 1 which do not form part of a series or group of series shall in the case of bankruptcy of the mortgage service to cover the holders of the special covered bonds or in particular covered mortgage bonds and counterparts on the financial services ; instruments in the series or group of series to which the loan is in use in order to provide additional security. Any surplus funds must be paid out to the lender.
§ 28. The termination of bankruptcy law in a real credit institution may not be of the holders of mortgage bonds, in particular covered mortgage bonds, in particular covered bonds and other securities or lenders of section 33 e (s). 1, shall apply as the cause of early payment obligations and shall not deduction the right of borrowers of the mortgage credit institution to make a total or partial deposit of mortgages or loans granted on the basis of the issue of special credit. covered real-credits bonds or in particular covered bonds in accordance with the loans in particular in respect of the loan, in particular.
Paragraph 2. If a mortgage credit institution shall not be subject to any additional security after paragraph 33 d (d), 1, this cannot, by the holders of special covered mortgage bonds, or in particular covered debt securities or lenders, subject to section 33 e (3). 1, shall apply as a cause of early payment of payment obligations.
§ 29. The estate estate may not provide for the fulfilment of claims from the holders of mortgage bonds, in particular covered mortgage bonds, in particular covered bonds and other securities at an earlier date than the real credit institution ; entitled to free itself on the admission of the grant.
Paragraph 2. The liquidate estate may not terminate any loan agreements secured by means of a flat-rate mortgage-proof leff; other than the mortgage credit institution.
Paragraph 3. The liquids can not change contributions and other similar situations.
-$30. The receipt from a creditor as referred to in Section 42 of the bankruptcy law may not take place for the fulfilment of a claim which is due to the mortgage credit institution.
§ 31. The exchange rate shall be used for the payment of requirements in accordance with the rules laid down in Chapter 10 of the bankruptcy law. Requirements from the holders of mortgage bonds, in particular covered mortgage bonds, in particular covered debt securities and other securities and claims from the decrees of the bankruptcy decree on the debts referred to in the said debt, however, in accordance with the requirements of Article 96 of the bankruptcy slots, but before in the Clause Section 97 of the bankruptcy law.
§ 32. In the case of payees, the mortgage credit institution shall continue as far as possible to meet its payment obligations in accordance with requirements from the holders of mortgage bonds, in particular covered mortgage bonds, in particular covered bonds and other transferable securities at due time, unless the supervision determines otherwise. With the assent of the supervisory board, the real credit institution may conclude agreements on financial instruments, to accept loans for the 1. Act. for such payments and to provide security for such loans in assets other than mortgages of mortgages and the series of serial reserves for which the payment is made.
Paragraph 2. In the event of bankruptcy, the curator shall, as far as possible, continue or resume the honors of the obligations of the mortgage credit institution in the form of interest and return on the holders of mortgage bonds, in particular covered mortgage bonds, Special covered bonds and other securities. In the non-sufficient amount of money, interest shall be paid before the withdrawal is carried out. The courier can conclude contracts for financial instruments, accept loans for payments to the holders of mortgage bonds, in particular covered mortgage bonds, in particular covered bonds and other securities and provide security for such loans in assets other than mortgages of mortgages and the series of serial reserves for which the payment is made.
§ 33. There can be no transfer of funds between series with the series of reserves with a series of reserves and the real credit institution, by the way, after notification of payment or termination of bankruptcy law.
Especially covered real-mortgage bonds, and especially covered bonds.
§ 33 a. Realcredit institutions can finance loans, cf. Section 2 (2). 1 and 3, by issuing special reference to mortgage bonds, if the institution has a permit in accordance with section 16 (a) (a). 1, in the law of financial activities.
Paragraph 2. The granting of loans financed with a special covered mortgage payment shall be made in separate series with the serieressvefund.
Paragraph 3. The value of the assets covering the mortgages issued in particular must at all times equal to the value of the special covered mortgage bonds, and the mortgage security of each individual loan shall at any time comply with ; the loan limit for this.
§ 33 b. Realcredit institutions may finance loans against security in the types of asset calculated in section 152 c (1). 1, no. 1 and 3-7, in the case of the granting of special covered debt securities, if the Foundation is authorized in accordance with section 16 (a) (1). 1, in the law of financial activities. § 152 c (3) 3, in the Act of financial activities, shall apply mutatis mutis.
Paragraph 2. The granting of loans financed with a special covered debt securities shall be made in separate series with the serieressvee fund.
Paragraph 3. The value of the assets covered by the special covered debt securities must at all times be at least equivalent to the value of the special covered bonds issued, and the mortgage security of each loan shall be required at all times to comply with the loan limit at all times.
§ 33 c. In the case of loans financed with special covered mortgage bonds, or in particular covered bonds, the duration of maturity, dragprofiles and loan limits specified in section 3 to 5, cf. however, paragraph 1 2-4.
Paragraph 2. The Borrowing Borderline for the in section 5 (5). 1, no. 7, does not apply to loans guaranteed by way of immovable property on the basis of the issue of special covered debt securities, or in particular covered mortgage bonds. The gate limit is for these properties 60%. of the property value. Borrowing line of 60%. may be increased to 70 pct., if additional security is lodged at least 10%. for the part of the loan that exceeds 60%. of the property value.
Paragraph 3. In the case of loans financed with special covered mortgage bonds, or in particular covered bonds against security in property covered by Section 5 (2). 1, sections 3 and 4 do not apply if the loan limit does not exceed 75%.
Paragraph 4. In the case of loans financed with special covered mortgage bonds, or in particular covered debt securities covered by section 5 (5), 3, no. 2-4, the loan threshold of 60%. may be increased to 70 pct., if additional security is lodged at least 10%. for the part of the loan that exceeds 60%. of the property value. In the case of loans financed with special covered mortgage bonds, or in particular covered securities covered by Article 5 (5), Two, can the credit limit of 70%. be used only if additional security shall be lodged at a minimum of 10%. for the part of the loan that exceeds 60%. of the property value.
Paragraph 5. Accessories covered by Section 38 of the sound Act may be included in the valuation of immovable property.
Paragraph 6. For the purposes of a commercial enterprise for the use of its operations, the values involved may be included in the valuation of the valuation. In the case of agricultural property, the herd may be included in the continuous production of the premises, in addition to the valuation of the transferable. In the case of agricultural restoities, the value of the herd which is part of the continuous production of a maximum of 30% shall be the maximum amount of the herd. of the value of land and buildings.
Paragraph 7. Borrow of fixed assets granted on the basis of the issue of special covered mortgage bonds or in particular covered debt securities must be guaranteed by separate pantheon letters and may not be granted against collateral in the form of owning letters and indemtees of non-free-mail ; cf. however, paragraph 1 Seven and nine. It must be stated in the mortgage letter that it may be safe for a loan financed by the issue of special covered mortgage bonds, or in particular covered bonds.
Paragraph 8. Mortgage letters in real estate, which are things that are things before 1. In July 2007, loans may be guaranteed for loans financed by the issue of special covered mortgage bonds, or in particular covered bonds. No matter what. Act. however, the owner pawn letters and indemsitation letters may not be available to the security of loans financed by the issue of special covered mortgage bonds.
Niner. 9. In the case of loans financed by the issue of special covered debt securities, the requirement in section 11 (s) may be ONE, ONE. point, that the borrower must own the property, and the requirement in section 23 (4). 1 that the borrower shall personally be waived in person ' s loan.
Paragraph 10. The financial supervision may be dispensers from paragraph 1. 6 for loans granted to immovable property located outside Denmark, the Faroe Islands and Greenland.
§ 33 d. Where the value of the assets referred to in section 33 (a) (a), 3, and section 33 (b) (b) ; 3, not at least equivalent to the value of the special covered mortgage bonds or in particular covered debt securities or are not complying with the loan limits which were in force at the time the loan has been granted, the mortgage credit institution must be provided ; promptly provide additional security to meet the requirement and to notify the Financial supervision thereof. Complementary security shall be provided in the form of the types of asset set up in section 152 c (1). 1, no. 1 and 3-7, in the law of financial activities. § 152 c (3) 3, in the Act of financial activities, shall apply mutatis mutis. The obligation to provide additional security as well as the costs for that loan may not be imposed on borrowers in Denmark, where the decreasing property values have triggered the additional collateral.
Paragraph 2. Where the mortgage credit institution does not provide additional security in accordance with paragraph 1, ONE, ONE. in the case of a series of bonds issued in the series with the serial reserve fund in particular covered mortgage bonds, or in particular covered debt securities. The bonds that are losing the description in particular covered real mortgage bonds may be terralist mortgage bonds if they comply with the requirements of the legislation in the area of mortgage bonds.
Paragraph 3. If the debt securities subsequently meet the requirements for specific mortgage bonds in particular, or in particular covered bonds, the Financial supervision may allow the bonds to be new specifically covered mortgage bonds in particular or in particular : covered bonds.
Paragraph 4. Safety has been lodged in accordance with paragraph 1. 1 may not be reversed after the bankruptcy slots section 70 or § 72. However, this may be carried out in accordance with the provisions laid down in the said provisions, where the security has specifically not been presented as ordinary ordinary.
§ 33 e. Realcredit institutions which have been given permission to issue a special covered bond may be subject to borrowing to meet requirements to provide additional security.
Paragraph 2. The loan agreement shall be included in the loan agreement, which series or group of series of series of reserves with the loan funds is recorded in accordance with paragraph 1. 1 may be carried out.
Paragraph 3. Loans recorded in accordance with paragraph 1. 1 shall be placed in the stock types referred to in section 152 c (1) ; 1, no. 1 and 3-7, in the law of financial activities. The assets shall be placed on a separate account at the time when the loan is recorded, in a separate depot, or in any other way, in the case of the loan concerned. Where assets are used as additional security, they shall be included in the series or group of series of series with the seriervevefund.
§ 33 f. Financial supervision shall lay down rules for :
1) the valuation of the mortgages issued in particular covered mortgage bonds or in particular covered debt securities and the continuous inventory of assets in relation to the specific covered mortgage bonds or the special covered bonds and debt securities ;
2) the valuation of assets located to the safety of the issue of specific covering mortgage bonds, or in particular covered bonds.
Supervision
§ 34. The SEC is observance of compliance with this law and regulations in accordance with the law.
Paragraph 2. The Financial Company Council is included in the supervision of the institutions within the Council's area of competence as stipulate in the law of financial activities.
Paragraph 3. The SEC may provide an injunction on the correction of matters which are contrary to the provisions of the law and rules issued under the law. Where a mortgage is granted in contravention of the law or rules drawn up under this, the Financial supervision of both the mortgage and borrowing of the borrower may require a reduction in mortgage lending, so that the said provisions are complied with.
Paragraph 4. In exceptional cases, financial supervision may use foreign aid.
$35. The SEC may obtain information about real estate from other public authorities for the purpose of compliance with this law.
§ 36. The SEC may lay down rules on the reporting of the mortgage credit institutions
1) Constants, losses and depreciation on loans and on-land holdings,
2) large exposures measured against the balance sheet of the institution and the large projections measured against the base capital of the Foundation (promilletes) and
3) Loan offering.
§ 36 a. The Economic and Industry Minister shall lay down detailed rules for the use of digital communications, including electronic signatures, by exchanging information on the basis of this law between citizens and businesses on the one hand and public administration ; the other side and the retention of information.
§ 37. As part of the financial supervision relationship, the real credit institution or credit institution shall be regarded as a decision by the Financial supervision of the Financial Authority in accordance with the financial supervision of the Financial Authority. however, paragraph 1 2.
Paragraph 2. A member of the board, an accountant, a CEO or other executive staff of a mortgage credit institution shall be considered as parties if the decision of the Financial Decision pursuant to the law or its provisions is directly directed at the person concerned.
Appeal access
§ 38. Decisions taken by the Financial Regulation pursuant to the law or rules issued under the law may, by the judgment of the law, be submitted to the Board of Acquisities at the latest four weeks after the decision has been notified to the person concerned.
Paragraph 2. Opens from the Financial supervision of the correction of loans granted contrary to the provisions of the law or rules issued in accordance with them may be brought before the courts no later than four weeks after the decision has been notified to the person concerned. Decisions submitted for the Agency shall be subject to the courts within four weeks of the date of the decision of the Board of Justice of the Board of the Board.
Penalty provisions
§ 39. The withdrawal of section 2 (2). 1, sections 3, 8, 10 and 11, section 13 (3). Paragraph 14, paragraph 14. 2 and 3, section 17 (3). 3 and 4, section 18-20, section 22, paragraph 1. ONE, TWO. pkt., section 25, paragraph ONE, ONE. pkt., and section 26 (s). 1 and 2 shall be punishable or penalised up to four months unless higher penalties have been inflited on the other legislation.
Paragraph 2. The withdrawal of section 2 (2). TWO, ONE. pkt., section 26, paragraph. 4, section 33 a (a), 2, section 33 (b) (b) ; 2, and section 33 c (s) ; Six, punishable by fine. In the same way, violation of the notification requirement in section 33 d (d) is punished. ONE, ONE. Act.
Paragraph 3. In rules issued under the law, penalties may be imposed on penalties for infringements of the rules laid down in the rules.
Paragraph 4. Companies can be imposed on companies, etc. (legal persons) punishable by the rules of Chapter 5 of the penal code.
Paragraph 5. The limitation period for infringement of the law or rules issued under the law shall be five years.
§ 40. If a mortgage or management board is to be granted the right time to comply with the duties which, under the law or the rules granted under the law, they are incumbent to the Financial supervision, the SEC may, as a force, impose on the persons concerned. daily or weekly fines.
Paragraph 2. The financial supervision may, as a means of force, impose on a mortgage or executive board of a mortgage or a daily or weekly penalty if the Management Board or the Governing Board fails to comply with the loans from the Financial supervision of the correction of loans granted in breach of the financial market ; by law or by rules drawn up pursuant thereto.
Entry into force and transitional provisions
§ 41. The law shall enter into force on 1. January 2004. Section 4, however, shall enter into force on 1. October 2003.
Paragraph 2. The first one. In October 2003, section 25 is deleted in the mortgage credit law, cf. Law Order no. 57 of 20. January 2003. The first one. Paragraph 1 (3) shall be repealed. 4 and 5, sections 3, 24, 26-28, 40-45, 47-49, 52, 54-59 and 97, § 100, paragraph 100. 4, section 102, paragraph. 2, as well as section sections 103, 103 (a) and 105 in the mortgage credit law.
Paragraph 3. Provisions applicable to the realm of credit institutions, cf. Law Order no. 571 of 15. In August 1989, and the index-regulated mortgage-credit loan, cf. Law Order no. 572 of 15. In August 1989, continued use of loans shall be granted in accordance with the said laws. Similarly, section 1 (2) shall be found. 5, and section 4 (4). 10, 2. pkt., and paragraph. TWELVE, TWO. PC, continue to apply to the priority state of loans granted in accordance with the provisions of the index-regulated mortgage credit loan.
Paragraph 4. Now the provisions of the mortgage credit law on loan terms and priority posts are still valid for loans granted in accordance with these provisions. The adjustment of loans in mortgage payments section 23 (3). Three, as written in section 6, no. 1, in Law No 1. 414 of 26. June 1998 amending the law on securities trading, etc., and different laws. (Present / division of responsibilities between the Fund and the Financial supervision, netting, currency spotshops in ROI, changed location rules for children's savings and housing savings, bankruptcy proceedings, etc.) shall also apply to the loan granted before the entry into force of this law
Paragraph 5. The previously applicable rules in section 21, 23, 24, 28, and 30-32 of the mortgage-credit law, cf. Law Order no. 708 of 8. September 1997, as amended by Section 6 of Law No 414 of 26. In June 1998 and section 2 of the Law No 491 of 1. In July 1998, continued use shall apply to construction, to which the first 1 shall apply. In January 1999, a commitment to support under the rule of public housing and supporting private cooperative housing, etc., previous laws on housing, as well as the former law on housing for the elderly and persons with disabilities, provided that the loan is based on : the aid commitment made.
Paragraph 6. The previously applicable rules in section 39 (4) of the mortgage. 1-6, cf. Law Order no. 708 of 8. September 1997, as amended by Section 6 of Law No 414 of 26. In June 1998 and section 2 of the Law No 491 of 1. In July 1998, continue to apply, and the earlier applicable rules in section 21, 23 and 24, cf. Law Order no. 708 of 8. September 1997, as amended by Section 6 of Law No 414 of 26. In June 1998 and section 2 of the Law No 491 of 1. In July 1998, they shall continue to apply in respect of the section 39 (3). 1 6, the purpose of borrowing intended for the purpose of the municipal management board prior to 1. In January 2002, a commitment to support has been announced.
Paragraph 7. Section 4 of a financial institution for agriculture and so on, cf. Law Order no. 699 of 5. November 1987, as amended by law no. 373 of 6. July 1988 and law no. 850 of 20. In December 1989, the continued use of loans granted by the Realm of Danish Agricultural Fund in connection with refinancing mortgages of mortgages and so on in agricultural refinancing is carried out.
Paragraph 8. § 20 a-20 d for the realm of mortgage credit institutions, cf. Law Order no. 571 of 15. August 1989 shall continue to apply.
Niner. 9. Accidents issued under the terms of paragraph 1. The above provisions shall be maintained. However, notice no. 646 of 27. In August 1998 on the issue of bankruptcy and so on of mortgage payments.
§ 42. The status of the status of the State in accordance with Article 28 (c) of the Law on Realtor ' s Act, cf. Law Order no. 571 of 15. In August 1989, the State guarantee may, with the addition of interest and costs, be recovered by pantout.
Paragraph 2. The Finance Management Board may recover the provisions of paragraph 1. Paragraph 1 shall be mentioned in accordance with the rules for the recovery of personal taxes in the source tax law in accordance with the rules for the collection of personal taxes.
Paragraph 3. The Minister for Food may lay down detailed rules concerning the procedure for the retention of pay.
Paragraph 4. The Finance Management Board may obtain the information from the tax authorities and other public authorities of the person concerned to carry out the recovery of the information referred to in paragraph 1. 1 the amount, including information on income and property.
Paragraph 5. Decisions pursuant to paragraph 1 of the financial management board. 1-4 may be made for the Finance Minister.
§ 43. The law does not apply to the Faroe Islands.
§ 100
The law shall enter into force on 1. February 2007.
Paragraph 2. (subtly).
§ 110
The law does not apply to the Faroe Islands and Greenland.
§ 12
Paragraph 1. The law shall enter into force on 1. July 2007, cf. however, paragraph 1 2-4.
Strike two-four. (subtly).
§ 14
Paragraph 1. Regardless of section 19 of the Act on mortgage credit and mortgage bonds, etc. as drawn up by the section 2 of this law. 7, the mortgage bonds must be issued before the first 1. July 2007 shall be recorded for public listing on a stock exchange until 1. November, 2007.
Paragraph 2. Section 20 (2). Paragraph 1, and section 26 (4). 4, in the area of mortgage credit and mortgage bonds, etc. as drawn up by the section 2 of this law. 8 and 10 apply to mortgage bonds issued in series or groups of series with seriereservefund which has been opened on 1. July 2007 and then.
Paragraph 3. For loans covered by § 33 c (3) (c) 2, in the case of mortgage credit and mortgage bonds, etc. as drawn up by the section 2 of this law. 18, the loan limit is 70 pct., if the loan is offered before the first 1. July, 2009.
§ 18
Paragraph 1. (subtly).
Paragraph 2. The Loven's section 2 does not apply to the Faroe Islands
Stk. 3-4. (subtly).
§ 5
Paragraph 1. The law shall enter into force on the seventh. April 2008.
§ 6
Paragraph 1. (subtly).
Paragraph 2. The Loven's section 3 does not apply to Faeroe Islands.
Paragraph 3. (subtly).
§ 10
Paragraph 1. The law shall enter into force on 1. July 2008, cf. however, paragraph 1 2
Paragraph 2. Number 2, number 2. 3 and 4, and section 6 shall enter into force on the day following the announcement in the Statthers of Law.
§ 11
Paragraph 1. (subtly).
Paragraph 2. The section 6 of the law does not apply to Faeroe Islands.
Paragraph 3. (subtly).
Paragraph 4. (subtly).
§ 13
Paragraph 1. The law shall enter into force on 1. July 2008, cf. however, paragraph 1 2-5.
Paragraph 2. (subtly).
Paragraph 3. (subtly).
Paragraph 4. (subtly).
Paragraph 5. (subtly).
§ 14
Paragraph 1. The law does not apply to the Faroe Islands and Greenland, cf. however, paragraph 1 Two and three.
Paragraph 2. (subtly).
Paragraph 3. sections 3-5 and 9 may, by means of a royal contraption, be fully or partially set in force for Greenland, with the deviations from which the special Greenland conditions are attributed.
1) The law provides for the implementation of parts of Directive 2006 /48/EC of the European Parliament and of the Council of 14. June 2006, on the admission and pursuit of business as a credit institution (recast), (EU-Official Journal of the European Official Journal of the European Official Journal (EU In 177, s. 1).
