Chapter 1 Scope of the law, etc.

Chapter 2 Size of the intake of hybrid core capital

Chapter 3 Application requirements and applications for applications

Chapter 4 Conditions and conditions for the deposits of hybrid core capital

Chapter 5 Supervision and penalties

Chapter 6 Entry into force and so on.

Publication of the law on capital capital deposits in credit institutions

This shall be the subject of state capital deposits to credit institutions, cf. law no. 67 of 3. In February 2009, with the changes resulting from paragraph 3 of Law No 338 of 1. May 2009.

The changes resulting from section 24 of the Law No 516 of 12. In June 2009 amending the annual accounting law, the law on financial activities and various other laws (Amendments as a result of company law), are not included in this legislative notice, since the time of entry into force of these changes shall be determined by the economy, and the Minister for Business, cf. § 25, paragraph. 1, in Law No 1. 516 of 12. June 2009.

Chapter 1

Scope of the law, etc.

§ 1. A system shall be set up which means that the State may provide credit institutions in Denmark ' s hybrid nuclear capital (capital deposits) and issue the design assurance in connection with the movement of capital.

Paragraph 2. For hybrid core capital, a standing accountable loan shall be understood without the expiry date according to the rules laid down in the Act of financial activities.

Paragraph 3. A credit institution shall be taken for the purposes of this law, financial institutions, real credit institutions, as well as Denmark's Shipship, A/S.

Paragraph 4. Filials in Denmark of foreign credit institutions, subsidiaries of Danish credit institutions, and subsidiaries of the Affiliates established under the law of financial stability are not covered by the law.

§ 2. The Economic and Economic Affairs Minister may agree to a credit institution on the deposits of hybrid seed capital and to lay down the detailed conditions for it.

Paragraph 2. The Minister for Economic and Business Affairs can draw on the state's account in Denmark's National Bank for the payment of the hybrid core capital to the credit institutions that have been agreed. Expenditure shall be recorded directly on the current additional appropriation laws.

Paragraph 3. The Minister for Economic and Business Affairs may, when a contract has been concluded with each credit institution, the hybrid core capital shall be directly attribution to the individual credit institution.

Chapter 2

Size of the intake of hybrid core capital

§ 3. Credits receiving capital deposits under this law shall have a core capital percentage of at least 12 in accordance with the capital income. however, paragraph 1 4.

Paragraph 2. Routine institutions prior to the capital income have a core capital% of less than 9 will be able to obtain a capital deposit corresponding to the difference between the 12-and credit institution ' s current nuclear capital percentage, provided that the limits are made ; for hybrid core capital in section 129 (4) ; Two-six, in the law of financial activities, allows for this.

Paragraph 3. Credits before the capital intake has a core capital percentage of 9 or more shall be able to have a capital deposit corresponding to an increase in the capital percentage by 3, provided that the limits for hybrid core capital in section 129 (3) are granted. Two-six, in the law of financial activities, allows for this.

Paragraph 4. For credit institutions which have a core capital of less than 6, individual solutions which give credit institutions the highest possible core capital may be negotiated.

Chapter 3

Application requirements and applications for applications

§ 4. Credits in Denmark which comply with the solvency requirement of 8 pct;, the individual solvency requirements of the institutions and, where appropriate, of the financial supervision of the financial market, shall be subject to higher solvency requirements, in accordance with the applicable financial solvency requirement. § 124 of the Act of Financial Business, May and with the 30. June 2009 applications for the deposits of hybrid seed capital, cf. Section 1 (1) of the law. 2.

Paragraph 2. The Economic and Industry Minister may lay down rules that the time limit laid down in paragraph 1 shall be that : 1 for the application for the deposits of hybrid core capital shall be extended.

§ 5. The application for the deposits of hybrid seed capital shall be submitted to the Ministry of Economic and Business. The application shall include the following :

1) A statement by the credit institution relating to the financial position of the Foundation and the future prospects.

2) A statement of the individual solvency requirements of the credit institution.

3) A revised annual report for 2008 and the latest quarterly accounts.

4) A statement by the credit institution's approval auditor.

Paragraph 2. The Minister for Economic and Business Affairs may lay down detailed rules on application requirements, the opinion of the auditor and the treatment of applications.

Paragraph 3. A credit institution applying for hybrid seed capital shall be obliged to inform the Ministry of Economic and Business, where the period between the time of application and the date of agreement is made significant changes to the institution ' s institution ; financial conditions.

§ 6. A credit institution may instead be able to apply for the deposits of hybrid seed capital, cf. Section 4 (4). One, to and with the 30. In June 2009, the applicant states that the State shall provide a drawing guarantee of a capital journey among other investors. The credit institution shall demonstrate in the application that other investors are to be attracted.

Paragraph 2. The Economic and Industry Minister may lay down rules that the time limit laid down in paragraph 1 shall be that : 1 in the case of an application for the release of a drawing guarantee shall be extended.

Paragraph 3. The Economic and Business Minister may lay down detailed rules for the application, processing of the application and payment terms, as well as other conditions for the placing on a character of a character.

§ 7. Persons involved in the processing of applications under this law have, under the responsibility of the Penal Code, section 152-152 e professional secrecy in relation to the information that they are aware of.

Chapter 4

Conditions and conditions for the deposits of hybrid core capital

§ 8. State deposits of hybrid core capital shall be subject to the fact that the credit institution at the time of the contract date continues to meet the requirement laid down in Section 3 (3) of the Act of Law. 1 whether the credit institution after the capital income has a core capital percentage of not less than 12, cf. however, section 3 (3). 4, and satisfy the solvency requirements of the law of financial activities.

Paragraph 2. During the period of receipt of capital by credit institutions, the following terms shall apply :

1) The capital contribution is intended to create air in the institution's lending policy.

2) The credit institution shall make every six months publishing a statement on the development of lending in the Institute.

3) The credit institution shall not make any capital reductions where the amount is paid to shareholders, guarantors, or cooperative holders, or initiating new repurse programmes of its own shares.

4) The credit institution shall not issue fonds or free shares to the heading or to make use of similar advantageous arrangements for the management.

5) The credit institution must pay dividended benefits from 1. In October 2010, provided that it can be financed from the current surplus, cf. in the case of paragraph 1 4.

6) The credit institution shall not use the means to capitalise the other undertakings of the group, with the exception of its subsidiaries, or acquire own shares or shares of other companies in the group. No matter what. Act. the credit institution must acquire its own stock trading stock in order to accommodate purchase order from the credit institution ' s customers and shares as part of a settlement of government deposits. The terms and conditions referred to in 1. PC may, in exceptional cases, be deviated from the conclusion of the Agreement.

7) The credit institution must not initiate any new share-training programmes or other similar arrangements for the management or the renewal or renewal of existing programmes.

8) The creditation institution shall not be paid members of the management board with variable pay parts, cf. the definition of this in section 77 a, paragraph, 2, in the law of financial activities, to an extent that exceeds 20%. of the total basic salary including pensions.

9) The institution ' s tax institution shall not deduct more than half of the individual pay compensation. The institution shall indicate, in a note to the annual report, the amount of which is tax deductible.

10) The credit institution shall pay a interest rate to the State, which shall be fixed individually for each institution.

Paragraph 3. In addition to the provisions of paragraph 1, 2, no. The terms and conditions of 1 to 10 shall apply to subsidiaries of foreign financial groups as far as possible to use the attributed capital injection to ensure consolidation and increased credit in Denmark.

Paragraph 4. A credit institution shall not be paid out to and by the 30. September, 2010. No matter what. Act. credit institutions forming part of a group with a foreign parent, may pay dividends if the maternity benefits payment is not dependent on profit-based profit from the Danish subsidiary. Additionally, Danmarks Shibscredit A/S must be, regardless of 1. Act. pay 15%. of the annual surpluses to the Danish Maritime Fund, provided that it can be financed within the current surplus.

Paragraph 5. The Economic and Economic Affairs Minister may lay down detailed rules on the determination and calculation of interest rates payable to the State in accordance with paragraph 1. 2, no. 10.

Paragraph 6. In cases where the hybrid nuclear capital of a credit institution is more than 35%. in the case of the total core capital, the Financial supervision may require capital to be converted into equity capital, provided that the credit institution is in difficulty. The Economic and Industry Minister may lay down detailed rules for conversion. Transformation of hybrid core capital does not entail the obligation to submit a takeover bids in accordance with the rules laid down in section 31 of the securities trading area, etc.

Paragraph 7. Provided that agreement is reached on contract-based conversion, cf. paragraph 6, the credit institution shall take a decision by the first-general meeting of the first general assembly to repeal the right to vote and to the limits of the limits of the owner.

Paragraph 8. The State may sell and, by the way, dispers of hybrid core capital which has been attributed to credit institutions under this law ; the creditors shall be able to enter into the governmental capital deposits after three years.

Niner. 9. Credits attributed to hybrid nuclear capital shall pay the State ' s expenses to external advisers and administration of the scheme. The Economic and Industry Minister may lay down detailed rules on this subject.

Paragraph 10. The terms of paragraph 1. 2, no. 3-10, and paragraph 1. 5 to 8 may be deviated wholly or partially in the individual agreements with subsidiaries forming part of foreign groups.

Paragraph 11. The Economic and Industry Minister may lay down other specific terms and conditions for the deposits of hybrid core capital, including terms for the partial inlet of credit institutions, cf. in the case of paragraph 1 8.

§ 9. The payment of the hybrid core capital shall be made immediately after the conclusion of this Agreement.

Paragraph 2. The Minister for Economic and Business Affairs may conclude that the payment is made at a later date, but not later than 31. December, 2009.

Paragraph 3. The Economic and Industry Minister may lay down rules that the time limit laid down in paragraph 1 shall be that : 2 for payment shall be extended.

Paragraph 4. A credit institution which has concluded an agreement with the State on the deposits of hybrid seed capital shall be obliged to inform the Ministry of Economic and Business, if, during the period between the date of the contract date and time of payment, significant changes in the economic relationship of the institution.

Paragraph 5. A credit institution that has entered into an agreement with the State on the deposits of hybrid seed capital shall be obliged to inform the Ministry of Economic and Business, where the credit institution no longer meets the solvency requirements of the law in accordance with the requirements of the law, without prejudice to the requirements of the Danish Ministry of Economic and Monetary Affairs. Section 4 (4). 1.

Paragraph 6. The Minister for Economic and Business Minister may lay down the terms of the payment, including rules that a credit institution shall pay a payment fee during the period from the date of signing of the agreement to the time of payment, of changes in the interest rate calculation from the date of award of the contract to the time of payment and the special Agreement Terms applicable to any subsequent payment, cf. paragraph 2.

§ 10. For credit institutions established in limited liability company, the Chapter 6 of the company ' s Chapter 6 on convertible and profit-making debt correspondence shall apply mutatis mueses to hybrid seed capital. For credit institutions which are not established in limited liability company, the Chapter 6 of the company ' s Chapter 6 shall apply mutatis mutandis to hybrid seed capital with the necessary adjustments.

Paragraph 2. Notwithstanding paragraph 1 1 has the right of credit institution with the authorisation of the financial system to repay hybrid core capital.

§ 11. The Ministry of Economic and Economic Affairs shall be empowered to carry out the transfer of the hybrid core capital to the credit institutions to undertake obligations on the indemnification of the State ' s financial advisor in respect of expenditure incurred ; financial adviser or its employees as a result of claims by third parties, unless the financial advisor or its employees have acted negligently or intentionally, and on the conclusion of the agreement on fees, if the advisor does not receive ; fees in connection with the state capital deposits.

Chapter 5

Supervision and penalties

§ 12. The Ministry of Economic and Industry oversees the fact that credit institutions comply with the terms and conditions applicable to the State ' s character guarantee after section 6 and capital deposits after Article 8.

Paragraph 2. The Ministry of Economic and Business Office draws up every six months a comprehensive statement on the development of credit opportunities.

§ 13. If a credit institution violates the terms of the drawing-up guarantee, cf. Section 6, or the conditions and conditions of capital deposits resulting from Article 8, the Financial Institute may issue a warning to the credit institution in question, dispose of the Board members of the institution concerned or to the Foundation ' s office to set up a director ; the institution concerned.

Chapter 6

Entry into force and so on.

§ 14. The law shall enter into force on the fourth. In February 2009.

Paragraph 2. The bill can be confirmed immediately after the adoption.

Paragraph 3. Law of the Act of Pile 8. 2, no. 4, 7 and 8 have effect from 21. January, 2009.

§ 15. The Act's section 16-18 does not apply to Faeroe Islands and Greenland, but § 16, nr. In the case of the Faroe Islands and Greenland, in full or in part, 1 to 14 and 17-19, the total or partial may be set in force for the Faeroe Islands and Greenland, with the deviations from which the special ferry and Greenland conditions are attributed.

Paragraph 2. The laws of the law of mortgage credit institutions are not applicable to the Faroe Islands.

§ 16. (subtly).

§ 17. (subtly).

§ 18. (subtly).

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§ 4

Paragraph 1. The law shall enter into force on the notice in the law of law ; 1) cf. however, paragraph 1 Two and three.

Paragraph 2. (subtly).

Paragraph 3. (subtly).

Paragraph 4. (subtly).

Paragraph 5. The bill can be confirmed immediately after the adoption.

§ 5

(Excluded)

1) The law was announced in Lawering A on the 2nd. May 2009.