Key Benefits:
Chapter 1 The Status and Enterprise of the Guarantee Fund
Chapter 2 " Contributor " institutions
Chapter 3 Departments
Chapter 4 Establishment of contributions
Chapter 5 Cover of the Fund
Chapter 6 Payments from the Fund to depositors and investors
Chapter 7 Management and management of the Fund
Chapter 7 a Voluntary arrangements
Chapter 8 Supervision
Chapter 9 Penalty provisions
Chapter 10 Entry into force and so on.
Publication of the Guarantee Fund for depositors and investors 1)
In this way, a guarantee fund for depositors and investors shall be made available, cf. Law Order no. 1009 of 8. August 2007, with the changes resulting from paragraph 5 of Law No 516 of 6. June 2007 and section 1 of law no. 338 of 1. May 2009.
The changes resulting from § 1, nr. 8-10, in the law. 338 of 1. May 2009 amending the Guarantee Fund for depositors and investors, the law on financial stability and the law of capital deposits in credit institutions (Exhibit of the depositor guarantee and the takeover of undertakings outside the door of the law ; The Private Company, etc.), have not been included in this legislative notice, since the changes will not enter into force until 31. December 2010, cf. Section 4 (4). Three, in the law. 338 of 1. May 2009.
Chapter 1
The Status and Enterprise of the Guarantee Fund
§ 1. The Guarantee Fund for depositors and investors (The Fund) is a private self-governing institution.
Paragraph 2. The Fund must provide the depositors and investors in the sections referred to in section 3 (3). 1, and Section 4, covered losses under section 9-11 in the case of payeing or bankruptcy.
§ 2. (The case).
Chapter 2
" Contributor " institutions
§ 3. The following institutions must be connected and make contributions to the Fund :
1) Financial institutions,
2) mortgage credit institutions,
3) fund-brokerers and investment management societies, in the case of the part of the activities of the companies which are subject to a permit in accordance with the Act of Financial Company, section 10 (4). 2, and
4) branches situated in Denmark of credit institutions and investment firms situated in a country outside the European Union, except in the case of countries with which the Community has concluded agreements.
Paragraph 2. The financial supervision may provide for branches of credit institutions and investment firms situated in Denmark situated in countries outside the European Union, except in countries with which the Community has concluded agreements, to be covered by the Fund.
§ 4. Filials situated in Denmark of credit institutions investment firms and investment management companies based in countries of the European Union or countries concluded by the Community may join the Fund ' s Fund, in addition to the guarantee scheme of the home Member State, if the Danish system as referred to in section 9-11 is more favourable than the home Member State ' s scheme. The SEC shall lay down detailed rules on this subject.
Chapter 3
Departments
§ 5. The fund has been divided into three sections : the pension department, the mortgage department and the Fund-mediation department.
Paragraph 2. The department of the Penquarters shall cover the provisions of section 3 (3). 1, no. 1, designated institutes and affiliated branches, cf. paragraph 5.
Paragraph 3. The realcreditation unit shall cover the provisions of section 3 (3). 1, no. 2, designated institutes and affiliated branches, cf. paragraph 5.
Paragraph 4. The Fund-mediation service section shall cover the sections referred to in section 3 (3). 1, no. 3, designated institutes and affiliated branches, cf. paragraph 5.
Paragraph 5. The Foundation ' s Administrative Board shall take a decision to which section they are in section 3 (3). 1, no. 4, and section 4 of the branches referred to shall be attached.
§ 6. In the event of a creditor ' s undertaking notifies or going bankrupt, contributions, including indebtees, from the institutions of the department under which the institution concerned falls under the obligation to cover the department ' s commitment ; Under the law.
Paragraph 2. If they are in paragraph 3. Paragraph 1 shall not be sufficient to cover the obligations of the department under the law, the department shall issue a loan, which is provided by the other departments in relation to the total contribution of the departments.
Paragraph 3. A department can borrow an amount equal to 50%. the requirements of the liquiding of the other departmenters, but not more than 100 million ; DKK per department, to cover commitments for a single financial year.
Paragraph 4. The Finance-and the Minister can, with the financial committee's agreement, provide a guarantee for loans accepted by the Fund to fulfil its obligations.
Paragraph 5. If there is an outcome of the insolvency proceedings, the encoding shall not be added to the departments which have granted a loan pursuant to paragraph 1. 2. Remaining amounts shall be added to the department under which the institution of the bankruptcy of the Bankruinant Institution is under.
Chapter 4
Establishment of contributions
§ 7. The fortune of the fund must be at least EUR 3.2 billion. DKK
Paragraph 2. Following negotiations with the Danish National Bank, Financial supervision rules concerning the contribution of the institutions to the Fund, laying down minimum requirements for the assets of the individual department and the more detailed conditions for the lockup, cf. Section 6 (2). 2. Contributions from the institutions shall be made by payment and indebation.
Paragraph 3. The total contribution of the Penal institutions concerning the net deposits within a financial year shall amount to a maximum of 2 per year of the institution ' s deposit-up. The institutions ' total contribution to the departments to cover funds and transferable securities which cannot be returned and the payment of any loans which has been recorded by a department, cf. Section 6 (2). The maximum number of each financial year shall be 50% within each financial year. the requirement for the size of a department ' s assets.
Paragraph 4. The individual contribution of the institutions shall be calculated from the point of view of the institutions ' covering net deposits, covered funds and covered securities. The Financial supervision may, by the setting of the Board of Directors, lay down detailed rules for the calculation of contributions.
Paragraph 5. The Economic and Industry Minister may change the claim to the amount of the Fund ' s assets pursuant to paragraph 1. 1.
§ 8. The Fund shall inform the Financial supervision, if an institution fails to fulfil the obligations of the Foundation as a member of the Fund. If a branch has joined the Fund, cf. Section 4, the Financial Authority shall inform the competent authorities of the national territory of the branch.
Paragraph 2. The SEC may revoke the institution ' s permit to operate, if the Foundation fails to comply with the rules of the law, rules issued under the law or the provisions of the Statute of the Fund.
Chapter 5
Cover of the Fund
§ 9. In the section 3, section 3. 1, no. The institutions referred to in Section 3 (1), 1, no. 4, and section 4 of the branches of credit institutions connected to the financial institution, the Fund shall cover the naming of the deposits at the institute up to a sum of EUR 100 000 per. Inburder. 2)
Paragraph 2. The foundation covers all the deposits.
1) on index accounts in accordance with the law ;
2) on capital pension accounts in accordance with the law ;
3) on self-retirement accounts, in accordance with the law,
4) on the Rateretirement accounts in accordance with the law ;
5) at children's savings accounts in accordance with the law ;
6) on housing savings in accordance with the law ;
7) at the training savings account in accordance with the law ;
8) at the establishment accounts in accordance with the law ;
9) which contained in the client accounts of lawyers,
10) be administered in approved management departments pursuant to section 54 and 61 of the guardian-top section of section 54 and 61 of the guardianment.
11) contained in a ski-change account concerning the death-estate during a public change ; and
12) they have been deposited in accordance with the law of the landfill.
Paragraph 3. This fund covers the full purchase price of immovable property, which has been deposited until 9 months from the prior purchase agreement, and deposits of mortgages for real estate mortgages to be covered up to nine months from ; However, the insertion of the amount shall be the subject of a new construction until 2 years. However, the coverage of the Fund shall be deductible from obligations relating to the mortgage and property trade, and any commitments that are not offset by the institution in question pursuant to paragraph 1. One condition is that the immovable property has been used mainly for non-business purposes or is intended primarily for the non-commercial use of the buyer or the seller of the property, respectively, of the person who has entered the mortgage loan.
§ 10. In the section 3, section 3. 1, no. The institutions referred to in Article 3 (2) and (3). 1, no. 4, and section 4, mentioned branches of credit institutions and investment firms which are connected to the real credit division or the Fund-mediation department shall cover the Fund ' s cash funds at the Institute up to a sum of EUR 100 000 per. investor. 3)
§ 11. In the section 3, section 3. 1, mentioned institutes and branches connected to the Fund under section 4 cover the Fund ' s loss as an investor who is a little as a result of the institution ' s unreadable transferable securities belonging to the investor and stored, administered or administered by the Foundation, with up to the equivalent of EUR 20 000 per year. investor. However, an investor may be covered up to an amount equal to the value of the securities which could not be returned by the Institute.
Paragraph 2. For the purposes of securities, this Act shall be understood as referred to in section 2 of the instrument of securities trading, etc.
§ 12. Requirements for cover from depositors and investors, cf. Section 9 (1). 1, and § 10 and 11, shall be discharged after deduction of their possible commitments to the institution concerned, cf. however, paragraph 1 2.
Paragraph 2. In the calculation of paragraph 1, 1 may not dedube from commitments to the repayment of loans granted on the basis of special covered bonds covered by Section 16 a in the Act of financial activities.
§ 13. The Fund shall not cover deposits, funds and securities belonging to the directors and members of the Board of Directors or of companies involved in the group with the institution concerned. The coverage of the Fund shall also not include depositors or investors who own 10%. or more of the stock, warranty or co-capitale. The coverage of the Fund shall also cover not deposits, funds and securities belonging to other of the sections referred to in section 3 (3). 1, said institutes, foreign credit institutions and institutes attached to the Fund pursuant to Article 4, or deposited capital deposits or deposits, funds and securities derived from transactions related to which have become in the case of money laundering.
§ 14. Where more persons are listed as holders of an account or depot, each person shall be regarded as a self-employed person or investor for its share in calculating the limits laid down in section 9-11.
§ 15. Imminals and investors shall have information about the coverage of the coverage area, etc. of the guarantee scheme to which an institution is connected. The SEC shall lay down detailed rules on this subject.
Chapter 6
Payments from the Fund to depositors and investors
§ 16. Payments from the Fund or the Fund ' s transfers of deposits and funds to other institutions shall take place as soon as possible and within three months of the date of payment of the tender or bankruptcy. It is a condition for the payment that these are duly complied with requirements ; on payment terms, the Fund ' s obligation shall not enter into seven banking days after notification of the payment condition has taken place.
Paragraph 2. The Financial supervision may, at the request of the Fund, extend it in paragraph 1. ONE, ONE. the period referred to in the said period, not more than nine months.
Paragraph 3. The Fund shall not be able to refer to the provisions of paragraph 1. The period from 1 and 2 shall refuse to pay coverage to a deposider or an investor, who has not been able to claim in time to claim his right to receive the amount.
Paragraph 4. The SEC shall lay down detailed rules on the Fund ' s obligation to provide information on the state's payeing or bankruptcy, as well as the notification of claims by the Foundation and the deposits and investors.
§ 17. The Fund shall enter into the extent that it has provided cover, in the depositor or investor ' s claim against the institution that has notified the claim of payment or has gone bankrupt.
Chapter 7
Management and management of the Fund
§ 18. The Fund is led by a board of eight members appointed by the Minister for Economic Affairs and the Economic Affairs Minister. The members and the delegates for these are appointed for three years.
Paragraph 2. The President-in-Office of the Management Board and Vice-President must represent the national economic and accounting expertise and legal expertise. 2 members shall represent the institutions referred to in section 3 (3). 1, no. 1, 1 member shall represent the institutions referred to in section 3 (1). 1, no. 2, 1 Member shall represent the institutions referred to in section 3 (1). 1, no. 3, and 2 members shall represent the depositors and investors.
Paragraph 3. As President or Vice-President of the Commission, no person participating in the management of or, incidentally, has such an association with a company or an organisation that opposing interests will arise between these and the Fund.
Paragraph 4. Decisions shall be taken by the general ballot. In cases where the voices are equal, the President's voice is crucial.
§ 19. The Fund ' s statutes and its rules of procedure shall be approved by the Financial supervision.
Paragraph 2. The articles shall contain provisions concerning the affixing of the Funds of the Fund.
Paragraph 3. The Fund ' s statutes may provide for the provision of the management of issues relating to the management board of issues which relate solely to a single department, not members of the management board representing the other sectors.
20. The Management Board shall, within three months of the expiry of a calendar year, take account of the last year of the financial year accounts for the financial supervision of the Fund for the past year.
§ 21. The cost of the Fund shall be borne by the Fund.
Paragraph 2. The Fund pays tax to the Finance SEC. The levy shall be fixed in accordance with Chapter 22 of the Act on financial activities.
Chapter 7 a
Voluntary arrangements
§ 21 a. Contributionable institutions may set up voluntary arrangements covering depositors and investors in other cases other than those referred to in section 1 (2). 2, specified case.
Paragraph 2. A voluntary scheme established in accordance with paragraph 1. 1, must be notified to the Financial supervision. The notification must at least contain the following :
1) the name of the voluntary scheme ;
2) the address of the voluntary scheme,
3) the names of the persons responsible for the management of the voluntary scheme ; and
4) information on the voluntary scheme.
§ 21 b. The SEC may conclude cooperation agreements with a voluntary scheme as referred to in section 21 a (1). 1. The collaboratory agreements may include description of the practical cooperation, exchange of information and the acquisition of takeover bids.
§ 21 c. Members of the voluntary system of management and staff and the auditors shall not unduly pass on or exploit confidential information, as they have been aware of in the performance of their duties.
Chapter 8
Supervision
§ 22. Financial supervision is supervising the Fund. The SEC and the Fund may, by the competent institutes and of depositors and investors, require all information deemed necessary to ensure that the rules laid down by the law in accordance with the laws and regulations of the Fund ' s statutes are complied with.
Paragraph 2. Section 354 and 355 in the Act of financial activities shall apply mutatis mulaam to the supervision of the Financial Authority following this Act, as a party to the Financial supervision alone shall be deemed to have been deemed to be the Fund.
Chapter 8 A
§ 22 a. Members of the Administrative Board of the Fund, auditors, directors and other servants shall not unduly disclose or exploit confidential information which, in the performance of their duties, they are aware of.
Chapter 9
Penalty provisions
-23. In the case of insofar as penalties are not inflited on the other legislation, the penalty shall be penalised by the penalty which :
1) provide false or misleading information or information in the case of notification, statement or payment of the coverage requirements ; or
2) fails to give either of the supervision or the Fund provided for in section 22 or to provide inaccurate or misleading information for the use of the control of the Fund.
Paragraph 2. In the same way, an institution shall be penalised that fails to comply with the obligations of the Fund.
Paragraph 3. Companies can be imposed on companies, etc. (legal persons) punishable by the rules of the penal code 5. Chapter.
§ 23 a. Violation of the provisions of section 21 c and 22 a penalty shall be penalized for the penal of a penalty which is not penalised by the penal code.
Chapter 10
Entry into force and so on.
§ 24. The Economic and Business Minister shall determine the date of entry into force of the law, cf. however, paragraph 1 Two and four. 4) At the same time, no 367 of 14. June 1995 on a deposit-up guarantee fund.
Paragraph 2. The Economic and Economic Affairs Minister, after negotiating with the tax minister, shall determine the time of entry into the entry into force of § 25. 5)
Paragraph 3. Section 7 B, as written by the Act of this Act, shall have effect on amounts paid out by the Fund and by virtue of the provisions of paragraph 5. 2 specified time.
Stc. 4-6. (subtly).
§ 25. In the case of the right to income tax to the State (body of equal pay), cf. Law Order no. 819 of 3. of November 1997, as last amended by Section 1 of law no. 133 of 25. In February 1998, Section 7 B is replaced by the following :
" § 7 B. Amounts used by the Guarantee Fund for depositors and investors to an institution as stipulated in the Act of a Guarantee Fund for depositors and investors § 3 to a total or partial balancing of an accounting balance in the transfer of assets and liabilities from an institution to another institute shall not be included in the taxable income. The part of the sub-balance covered by a grant or a guarantee from the Guarantee Fund for depositors and investors may then not be regarded as part of the acquisition sum of the acquiring institution for the inherited assets.
Paragraph 2. Where the Guarantee Fund for depositors and investors has paid out the amounts referred to in paragraph 1. 1 or a guarantee that may lead to the payment of the amounts covered by paragraph 1. 1, and a transferable institution covered by paragraph 1. 1 commenting new activity, a deficit of past income cannot be deductible from the taxable income for the income concerned or later income, as the deficit of the income concerned cannot be deductible ; the income of the taxable income for future income. ` ;
SECTION 26. The law does not apply to the Faroe Islands and Greenland. The law may, with the exception of paragraph 25, be applied to these parts of the village, with the deviations which the particular ferocities and Greenlandic conditions are saying.
§ 2
The law shall enter into force on 1. June 2000.
§ 3
The law does not apply to the Faroe Islands and Greenland, but can, by means of a royal device, be brought into force for these parts of the village, with the exception of the special ferry and Greenland conditions.
§ 19
Paragraph 1. The law shall enter into force on 1. July 2002, cf. however, paragraph 1 Two and three.
Strike two-four. (subtly).
§ 20
(subtly).
§ 21
Paragraph 1. Except for § 1, no. Thirteen, the law does not apply to Greenland and Faroe Islands, but can, by means of a royal device, be brought into force for these parts of the village, with the deviations from which the special Greenland and ferry conditions are attributed to, cf. however, paragraph 1 2.
Paragraph 2. (subtly).
$375. The law shall enter into force on 1. January 2004, cf. however, paragraph 1 Two and three.
Strike two-five. (subtly).
§ 438. The law shall not apply to the Faroe Islands and Greenland, but can, by means of a royal device, be brought into force for these parts of the village, with the deviations that the special ferry and Greenland conditions are attributed to, cf. however, paragraph 1 2-4.
Strike two-four. (subtly).
§ 9
The law shall enter into force on 1. January 2008.
§ 10
Parags 1 and 2. (subtly).
Paragraph 3. Law of the Act, section 3, 5, section 6, no. 1 and 3 to 7, and sections 7 and 8 shall apply where the death occurs after the entry into force of the law ;
Paragraph 4. (Excluded)
§ 11
The law does not apply to the Faroe Islands and Greenland. sections 1 to 3 and 5 may, by means of a royal device, be brought into force for these parts of the village, with the deviations which the particular ferries and Greenland conditions say.
§ 12
Paragraph 1. The law shall enter into force on 1. July 2007, cf. however, paragraph 1 Two and three.
Strike two-three. (subtly).
§ 13
(subtly).
§ 14
Paragraph 1. The law does not apply to the Faroe Islands and Greenland, cf. however, paragraph 1 Two and three.
Paragraph 2. Section 1-5 may, by means of a royal appliance, fully or in part, in force for the Faeroe Islands and Greenland, with the deviations from which the special movement and Greenland conditions are attributed. 6)
Paragraph 3. (subtly).
§ 4
Paragraph 1. (subtly).
Paragraph 2. § 1 will enter into force on the 30. June 2009, cf. however, paragraph 1 3.
Paragraph 3. section 16 (4). 1-3, in the Act of a Guarantee Fund for depositors and investors, as drawn up by this law's section 1, no. 8-10, enter into force on the 31. December 2010.
Paragraph 4. During the period from 30. June 2009 to the 30th. The amount referred to in paragraph 9 (2) shall be the amounts referred to in paragraph 9. Paragraph 10 (1) and 10 (1). 1, in the Act of a Guarantee Fund for depositors and investors, as amended by this Act's § 1, nr. 3, however, only an amount equal to EUR 50 000.
Paragraph 5. The bill can be confirmed immediately after the adoption.
§ 5
Section 1 does not apply to the Faroe Islands and Greenland but may, by means of a royal contraption, be fully or in part by force for these parts of the village, with the deviations that the special ferry and Greenlandic conditions are saying.
1) The law provides for the implementation of Directive 94 /19/EC of the European Parliament and of the Council of 30. May 1994 on deposit-guarantee schemes (EC Official Journal (1994) No In 135, s. 5), Directive 97 /9/EC of the European Parliament and of the Council of 3. March 1997 on investor-guarantee schemes (EC Official Journal. L 84, s. Directive 22) and Directive 2009 /14/EC of the European Parliament and of the Council of 11. March 2009 amending Directive 94 /19/EC on deposit-guarantee schemes in respect of the level of coverage and the expiry of the payment period (EU Official Journal 2009). L 68, s. 3).
2) During the period from 30. June 2009 to the 30th. The amount referred to in paragraph 9 (3) shall be the amount referred to in Article 9 (1) 1, however, only an amount equal to EUR 50 000, cf. Section 4 (4). Amendment No 4. 338 of 1. May 2009.
3) During the period from 30. June 2009 to the 30th. In September 2010, the amount referred to in section 10 is, however, only an amount equal to EUR 50 000, cf. Section 4 (4). Amendment No 4. 338 of 1. May 2009.
4) The guarantee fund for depositors and investors was put into force on the 15th. October 1998, cf. Notice no. 723 of 9. October 1998.
5) § 25 was put into force on the 15th. August 1999, cf. Notice no. 652 of 12. August 1999.
6) Section 14, paragraph 14. Two, in Law No 576 of 6. June 2007 was amended by paragraph 12 of the Act 517 of 17. June 2008.
