Publication of payment institutions ' assurance of funds received from users of payment services 1)

Purline of section 22 (2). 3, and section 107 (3). 5, Law No. No. 385 of 25. May 2009 on payment services shall be fixed :

Scope of application

§ 1. This notice shall apply to undertakings authorised by the payment institution pursuant to Chapter 2 of the payment services law and, at the same time, carrying out other business activities other than payment services, cf. Act 11, paragraph 1. 1, no. 3.

Paragraph 2. The announcement shall apply to funds,

1) the payment institution has received from users of payment services or received through another means of payment services in the context of payment transactions ; and

2) which have not yet been paid to the payee or transferred to another provider of payment services at the end of the working day following the day on which the funds were received.

Paragraph 3. The notice shall not apply to the individual user of payment services if the total amount of the payment institution ' s total funds does not exceed EUR 600.

Safeguarding the funds

§ 2. The payment institution shall ensure the funds referred to in Section 1 in accordance with paragraph 1. 2-3.

Paragraph 2. The obligation pursuant to paragraph 1. 1 can be met on one or more of the following ways :

1) When the funds are inserted in a separate account referred to as "security account" in a credit institution in accordance with section 3.

2) In the investment in transferable securities, placed in a separate securities depot called ' safe depot `, in a credit institution in accordance with section 4.

3) In the establishment of a guarantee, in accordance with section 6.

Paragraph 3. The total amount of collateral in accordance with paragraph 1. 2 shall at all times correspond to the total amount of the sum collected pursuant to section 2 (2). 1. In the investment in transferable securities, cf. § 2, nr. 2, and in the establishment of guarantees, cf. § 2, nr. However, 3 should be given a margin of 10%.

§ 3. Sikound-accounts as part of section 2 (2). 2, no. 1, shall be set up in a credit institution authorised in this country, in another country within the European Union or in a country with which the Community has concluded agreements in the financial sphere.

Paragraph 2. The payment institution shall make up to the credit institution ' s notation of the provision of securities for the recovery of the payment services for the institution of the payment services sector covered by Article 2 (2). 1, may have against the institution of payment in the event of the payment institution being taken as insolvency proceedings. The payment institute shall, however, be eligible for the credit institution to be free to dispense with any such predisposition.

Paragraph 3. In the insolvency proceedings, in accordance with paragraph 1, 2 means bankruptcy, acclamation, payment condition, insolvent death bogeing, debt relief, and other Danish and foreign forms of winding-up proceedings and reorganisation measures motivated by the debtor ' s insolvency as defined in Article 2 (2). Paragraph 1 (j) and (k) of Directive 2002 /47/EC.

§ 4. Safety deposits in accordance with section 2 (2). 2, no. 2, must have been set up in a credit institution authorised in this country, in another country within the European Union or in a country with which the Community has concluded agreements in the financial sphere.

Paragraph 2. The securities placed in the safety depot shall be safe, liquefied securities, which means debt securities or debt securities issued by or guaranteed by governments or regional authorities in zone A countries, cf. Section 5 (5). 1, no. 18, in the law of financial activities.

Paragraph 3. The payment institution shall obtain the credit institution ' s notation that the security depot shall constitute a guarantee for the recovery of the payment services for the institution of the payment services sector, as referred to in Article 2 (2). 1, may have against the institution of payment in the event of the payment institution being taken in the insolvency proceedings, cf. Section 3, paragraph 3. 3. The payment institute shall, however, be eligible for the credit institution to freely dispose of the securities placed in the security depot.

§ 5. When the conditions are in section 3, paragraph 1. Article 4 (2) and section 4 (4), 3, fulfilled, are the claims of repayment as the paying institution ' s users of payment services covered by Section 2 (2). 1, may have against the department of payment, shielded from prosecution from the other creditors of the payment institution.

§ 6. Guarantees pursuant to section 2 (2). 2, no. 3, must be provided by an insurance undertaking or a credit institution which does not belong to the same group as the paying institute and authorised in this country, in another country within the European Union, or in a country to which the Community is authorised ; concluded an agreement in the financial sphere.

Paragraph 2. The guarantee shall be made as a self-debtor guarantee in favour of payment services for the institution of the paying agency and shall include the recovery requirements referred to in Article 2 (2) (2). 1, may have against the institution of payment in the event of the payment institution being taken as insolvency proceedings.

§ 7. The payment institute shall have reassuring business procedures, including controls to ensure compliance with the obligations of the paying institution under this notice.

Supervision and penalty provision

§ 8. The payment Foundation shall submit a statement to the Financial supervision which shows the total outstanding done in accordance with section 2 (2). 1, in relation to the established security. The statement to be carried out respectively per 31. December and 30. June, must be received by the Financial supervision by 1. March and 1. September.

§ 9. The withdrawal of section 2 (2). Paragraph 1 shall be punished by penalty unless higher penalties have been imposed on Article 107 (1). 1, in the law on payment services.

Paragraph 2. The withdrawal of section 2 (2). 3, sections 7 and 8 are punishable by fine.

Paragraph 3. Companies can be imposed on companies, etc. (legal persons) punishable by the rules of the penal code 5. Chapter.

Entry into force

§ 10. The announcement shall enter into force on the sixth. November, 2009.

1) The announcement contains provisions that are partially impending the Directive 2007 /64/EC of the European Parliament and of the Council of 13. November 2007 on payment services in the internal market and amending Directive 97 / 7 / EC, 2002 /65/EC, 2005 /60/EC, and repealing Directive 97 /5/EC, (Payment Services Directive) (EU Official Journal) (EU Official Journal) (EU Official Journal) (EU Official Journal). L 319, s. 1).