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Notice On Provision Of Powers To The Fsa As Well As On Appeal (The Notice Of Delegation)

Original Language Title: Bekendtgørelse om henlæggelse af beføjelser til Finanstilsynet samt om klageadgang (Delegationsbekendtgørelsen)

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Table of Contents

Publication of the closure of powers to the SEC and the Executive Order of the Financial Regulation (Delegation Order)

Under Section 371, in the Act of Finance, cf. Law Order no. 376 of 22. May 2008, and Article 130, in the Law on investment associations and special associations, as well as other collective investment schemes, etc., cf. Law Order no. 1499 of 12. In December 2007 :

§ 1. Exasions which, according to the following laws, have been paid to the Finance and Business Minister, are carried out by the Financial supervision, cf. however, Section 2 :

1) Promise of financial undertaking, cf. Law Order no. 376 of 22. 1 May 2007, as last amended by Section 1 of law no. 517 of 17. June 2008.

2) Insurance intermediation code, cf. Law Order no. 401 of 25. April 2007, as last amended by Section 5 of Law No 517 of 17. June 2008.

3) Promise of cross-border credit transfers, cf. law no. 237 of 21. April 1999, as amended by Section 5 of Act 5. 365 of 19. May 2004.

4) Law on investment associations and special associations as well as other collective investment schemes, etc., cf. Law Order no. 1499 of 12. In December 2007, as last amended by Section 6 of Law No 517 of 17. June 2008.

5) Law on mortgages and mortgage bonds, etc., cf. Law Order no. 1412 by 10. In December 2007, as last amended by Section 3 of Law No 517 of 17. June 2008.

6) Promise of a shipbuilding institute, cf. Law Order no. 1376 of 10. December 2007.

7) Law on the supervision of company pension funds, cf. Law Order no. 1561 of 19. In December 2007, as last amended by Section 4 of Law No 517 of 17. June 2008.

8) Act on securities trading, etc., cf. Law Order no. 214 of 2. April 2008, as last amended by Section 2 of Law No 515 of 17. June 2008.

9) Promise of authorised auditors and auditors, cf. law no. 468 of 17. June 2008.

§ 2. However, the Economic and Economic Affairs Minister shall continue to exercise the following powers :

1) In the law of financial activities :

a) The gingy for after paragraph 43 (5). 2, to lay down rules of good practice.

b) The gingy for after paragraph 43 (5). 3, to lay down rules on price information for financial services.

c) The gingy of the following section 204 (4). 1, allow the merger of two or more financial institutions whose share of the total working capital of the financial institutions (deposits + issued bonds and other funds + own funds) each comprise more than 4%. and the power to allow the association of two or more mortgage institutions to be combined.

d) The following paragraph shall be referred to in paragraph 215. 1 to approve changes in the bylaws of a association which has been a mortgage credit institution.

(e) The following paragraph shall be referred to in Article 245 (2). ONE, TWO. PC, in collaboration with the tax minister, to appoint members for the Board of values.

(f) The reference to the following section : 333 (a), 1, 3 and 4, to designate members and alternates to the Money and Pension panel.

g) The reference to the following section : 333 (a), 5, to lay down the Rules of Procedure of the Pensionary and Pensionary Board.

(h) The gingy of the following section 344 (3). 6, to lay down rules on the Financial-style procedures in accordance with Community law.

i) The gingy of the following section 345 (3). 1 and 3-5, designate members, alternates, and in particular experts to the Financial Business Enterprise.

j) The gingy of the following section 345 (3). 12, to lay down the Rules of Procedure for the Financial Corporate Council.

c) The reference to the following section 356 (3). 1, allow the employees of the Finance-synet to operate self-employed.

I) The reference to the following section 356 (3). 2, to draw up guidelines on the reporting of capital records for the Director of the Financial Supply Director, and others.

m) The reference to the following section 356 (3). 3, to allow the Director of the Financial supervision to include loans and so on and to prepare guidelines for the approval of the Finance-synet employees ' loans and so on.

n) The following paragraph 371 shall be set up to lay down rules on the procedure for complainal and so on.

2) In the law on insurance dissemination :

a) The reference to paragraph 19 (1) of the following paragraph : 2, to lay down rules of good practice.

3) In the Law on investment associations and special associations and other collective investment schemes, etc. :

a) The appointment of the following section of section 18 (2). 2, to lay down rules of good practice.

b) The following paragraph shall be referred to in section 116 (1). 2, to lay down rules on the Financial-style procedures in accordance with Community law.

c) The following paragraph shall be set to set rules for the procedure for complainal and so on.

4) In the area of mortgages and mortgage bonds, etc. :

a) The following section shall be eligible for fees, deposits and consecutive contribution to administration and reserve fund-building for borrowing, for which State aid is granted.

5) In the law of a shipbuilding institution :

a) The gingy of the following section 7 (3). 4, to approve decisions in connection with transformation.

b) The gingy of the following section 7 (3). 5, approving the shareholder agreement.

c) The gingy for after § 10, 2. PC, to oppose a subsequent transfer of assets and liabilities of the stock company.

d) The gingestion of the following section 13 (3). 3, designate a member of the Executive Board of the Opera Fund.

6) In the law on the supervision of company pension funds :

a) The following paragraph shall be referred to in Article 6 (1) (a). 2, to lay down rules of good practice.

7) In the law on securities trading, etc. :

a) The following paragraph shall be set in accordance with section 3 (3). 2, to lay down rules of good practice.

b) The glance for after paragraph 60 (2). 3. The decision to provide information to a public authority is to be determined by a security central to a specific scope.

c) The reference to the following section 77 (2). 2, to appoint members and delegates to the Board of Appeal for Securities Centers.

d) The gingy for after Article 84 (4). 1, 4 and 5, to appoint members and alternates to the Fund.

(e) The gingy for after Article 84 (4). 10, to approve the Rules of Procedure of the Fund.

(f) The following paragraph shall be referred to in paragraph 127 (a), FOUR, ONE. point, to appoint the chairman of the Board of Directors of the securities and the other board members.

8) In the act of a terrorist insurance scheme in the field of injury :

a) The glance for after paragraph 5 (5). 1, fixing the limit on the entry into force of the reinsurance guarantee.

b) The glance for after paragraph 5 (5). 3, to change the size of the annual risk premiums to the Danish State.

c) The glance for the following section 6 (2). 2, to lay down detailed rules for the legal entity.

d) The gingy of the following section 7 (3). One, to set up the Terrorist Insurance Council.

(e) The gingy of the following section 7 (3). 2, establishing the Rules of Procedure of the Terrorist Council.

(f) The gingy for after paragraph 9 (4). 2, to receive notifications concerning the substitution requirements from the legal entity.

g) The reference to the date of entry into force of the law shall be set at the time of paragraph 12.

9) Law no. 467 of 17. June 2008 for the Faeroe Islands on information that will be sent on the payment of money transfers.

a) The conclusion of the date of entry into force of the law shall be set at the time of paragraph 21.

10) Law no. 512 of 17. June 2008 amending the law on preventive measures against the laundering of the yield and financing of terrorism and the law on financial activities.

a) The conclusion of the date of entry into force of the law shall be set at the time of entry.

§ 3. Decisions taken on the Financial supervision by the Authority pursuant to section 1, no. The decision shall be submitted to the Board of Acquirees at the latest four weeks after the decision has been notified to the person concerned.

§ 4. The announcement shall enter into force on 1. September 2008.

Paragraph 2. At the same time, notice No 1094 of 18. September 2007 on the submission of powers to the SEC and on the draft Executive Order of the Financial Regulation (Delegation Order).

The Ministry of Economic and Business, the 28th. August 2008 Bendt Bendtsen / Carsten Brogaard