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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Read the untranslated law here: https://www.retsinformation.dk/Forms/R0710.aspx?id=121053

Notice on provision of powers to the FSA as well as on appeal (the notice of delegation)

Under section 371 of the financial business Act, see. lovbekendtgørelse nr. 376 of 22. in May 2008, and section 130 of the Act on investment associations and special associations and other collective investment schemes, etc., see. lovbekendtgørelse nr. 1499 by 12. December 2007, fixed:

§ 1. Powers, as subsequent laws is vested in the Minister for economic and business affairs, exercised by the Danish financial supervisory authority, without prejudice to article. However, section 2:





1) financial business Act, see. lovbekendtgørelse nr. 376 of 22. in May 2007, as last amended by section 1 of Act No. 517 of 17. June 2008.

2) law on insurance mediation, see. lovbekendtgørelse nr. 401 of 25. April 2007, as last amended by section 5 of law No. 517 of 17. June 2008.

3) law on cross-border credit transfers, see. Act No. 237 of 21. April 1999, as amended by section 5 of law No. 365 of 19. May 2004.

4) law on investment associations and special associations and other collective investment schemes, etc., see. lovbekendtgørelse nr. 1499 by 12. December 2007, as last amended by section 6 of the law No. 517 of 17. June 2008.

5) law on mortgage loans and mortgage bonds, etc., see. lovbekendtgørelse nr. 1412 by 10. December 2007 as last amended by section 3 of Act No. 517 of 17. June 2008.

6) law on a ship's financial regulation. lovbekendtgørelse nr. 1376 of 10. December 2007.

7) law on the supervision of company pension funds, without prejudice. lovbekendtgørelse nr. 1561 by 19. December 2007, as last amended by section 4 of Act No. 517 of 17. June 2008.

8) law on securities trading, etc., see. lovbekendtgørelse nr. 214 of 2. April 2008, as last amended by section 2 of Act No. 515 of 17. June 2008.

9) law on approved Auditors and audit firms, see. Act No. 468 of 17. June 2008.





§ 2. The Minister for economic and business affairs is exercised, however, continue to the following powers:





1) in financial business Act:





a) Power to under section 43, paragraph 2, to lay down the rules on best practices.

(b)) the power to under section 43, paragraph 3, to lay down rules about price information for financial services.

(c)) the power to under section 204, paragraph 1, to allow the aggregation of two or more financial institutions whose share of financial institutions ' total working capital (deposits + issued bonds, etc. + subordinated capital + equity) each of which constitutes more than 4 per cent and the power to allow aggregation of two or more mortgage companies.

d) power for under section 215, paragraph 1, to approve changes in the statutes of an association that has been a mortgage lender.

e) Power to under section 245 (1), (2). section, in cooperation with the tax Minister to appoint members to the valuation Tribunal.

f) Power to under section 333 (a), paragraphs 1, 3 and 4, to appoint members and alternate members of the money and pension Panel.

g) Power to under section 333 (a), paragraph 5, to lay down the money and pension Panel rules of procedure.

h) Power to pursuant to section 344, paragraph 6, to lay down rules for FSA procedures in accordance with the rules of Community law.

in) the power to under section 345 (1) and 3-5, to appoint members, alternates and experts in particular in the financial business Council.

j) Power to under section 345, paragraph 12, to establish rules of procedure for The Financial Business Council.

k) the power to under section 356, paragraph 1, to allow FSA employees to engage in self-employment.

l) Power to under section 356, (2) to draw up guidelines for the provision of property dispositions for FSA Director m. fl.

m) Power to under section 356, paragraph 3, to allow the Director of FSA recorder loans, etc., as well as to draw up guidelines for the approval of the FSA employee loans, etc.

n) Power to under section 371 to lay down rules concerning the right of appeal, etc.





2) of the law on insurance mediation:





a) Power to under section 19, paragraph 2, to lay down the rules on best practices.





3) of the Act on investment associations and special associations and other collective investment schemes, etc.:





a) Power to under section 18, paragraph 2, to lay down the rules on best practices.

(b)) the power to under section 116, paragraph 2, to lay down rules for FSA procedures in accordance with the rules of Community law.

(c)) the power to under section 130, to lay down rules concerning the right of appeal, etc.





4) of the law on mortgages and mortgage bonds, etc.:





a) Power to under section 15 to approve rates for fees, deposits and continuous contribution to administration and reservefonds structure of loans qualifying for State aid.





5) of the law on a ship of financial institutions:





a) Power to under section 7, paragraph 4, to approve decisions in connection with the transformation.

(b)) the power to under section 7, paragraph 5, to approve the shareholder agreement.

(c)) the power to under section 10, 2. paragraph, to oppose a later transfer of stock the company's assets and liabilities.

d) power for under section 13, paragraph 3, to appoint a member to the Board of Directors for the trader Fund.





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





a) Power to pursuant to section 6 (a), paragraph 2, to lay down the rules on best practices.





7) of the law on securities trading etc.:





a) Power to under section 3, paragraph 2, to lay down the rules on best practices.

(b)) the power to under section 60, paragraph 3, to determine that a central securities depository in a defined extent must supply information to a public authority.

(c)) the power to under section 77, paragraph 2, to appoint the members and alternates to the Board of appeal for central securities depositories.

d) power for under section 84, paragraph 1, 4 and 5, to appoint the members and alternate members of the Danish securities Council.

e) Power to under section 84, paragraph 10, to approve the Council's rules of procedure.

f) Power to under section 127 (a), (4) 1. paragraph, to appoint the President of the Board of Directors of the central securities depository, as well as the other Board members.





8) of the law on a terrorism insurance on property and casualty insurance sector:





a) Power to under section 5, paragraph 1, to determine the threshold for when reinsurance warranty comes into force.

(b)) the power to under section 5, paragraph 3, to change the size of the annual risk premium to the Danish State.

(c)) the power to under section 6, paragraph 2, to lay down detailed rules for the legal entity.

d) Power to under section 7, paragraph 1, to reduce the terrorism insurance Council.

e) Power to under section 7, paragraph 2, to provide for terrorism insurance Council's rules of procedure.

f) Power to under section 9 (2) to receive communications concerning claims for damages from the legal entity.

g) Power to under section 12 to fix the time of the entry into force of the Act.





9) of law No. 467 of 17. June 2008 for Faroe Islands of information that must be included on the payer for transfers of funds.





a) Power to under section 21 to fix the time of the entry into force of the Act.





10) of law No. 512 of 17. June 2008 amending the law on prevention of the laundering of proceeds and the financing of terrorism and the financial business Act.





a) Power to under section 3 to determine the time of the entry into force of the Act.









§ 3. Decisions taken by the FSA under the authority pursuant to § 1, nr. 1 and 4, of the which the decision addressed to, be referred to the EAB within 4 weeks after that decision is announced.

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

(2). At the same time repealed Executive Order No. 1094 of 18. September 2007 on the provision of powers to the FSA as well as access to justice (Delegation order).
Economic and business affairs, the 28. August 2008 Bendt Bendtsen/Carsten Brogaard