Key Benefits:
Chapter 1 Scope of application
Chapter 2 Information requirement
Chapter 3 Means Funds
Chapter 4 Guarantee Guarantee for Trusted Funds
Chapter 5 Supervision and penalty
Publication of the obligation to provide information in the case of commercial trade in mortgages and on the treatment of trusted funds and guarantees of the pawn-mail handling of the patheodes and guarantees of the trade in certain patheodes
Purline 3, paragraph 3. 4, section 8 (4). 2 and section 22 (4). Amendment No 4. 697 of 25. June 2010 on pathematic cooperatives shall be fixed :
Chapter 1
Scope of application
§ 1. This notice shall apply to companies covered by Section 2 (1). One, in the act of pathematic cooperatives.
Paragraph 2. Businesses covered by Section 5, paragraph 1, no. Paragraph 1 of the financial undertaking which commercially purchaser or sells pawn letters is covered by Chapters 2 and 5.
Chapter 2
Information requirement
§ 2. In the case of commercial sales of mortgages in the case of mortgages, Self1 must provide information about the pawn letter to the buyer for commercial sales.
Paragraph 2. This information must be provided to the buyer prior to an agreement on trade in the pawn letter. Details of section 3 shall be given to the buying on paper or a second lasting medium.
§ 3. In the case of sale of mortgages in real estate, the purchaser shall receive information about the pawn letter and the circumstances under which it is issued. The following minimum information shall be given :
1) Information on the pawn letter has been issued in relation to the changeover, plain free trade, which loan pantheon letter and / or by inheritance or gift.
2) Information on the pawn letter has been issued or issued earlier and subsequently forwards.
3) If the pawn letter is resold, the time of the transfer shall be reported.
4) Information on all deals with the property in the last three years and the pay of each transaction.
5) Documentation of the seller's welcome to the mortgage.
6) What type of property the mortgage is to be put into, including if it is a residential boat, rental, business or any other property.
7) The most recent public opinion of the property and if available, including the market value of the property at the time of the transfer of the mortgage letter, assessed by a property allotment, cf. Act on the turnover of real property 8. The CVR no. and the assessment theme must also be provided. The assessment must not have been carried out more than 6 months. before the transfer of the pawn letter.
8) Information on the priority position of the pan-bank, together with information on possible trailing priorities and any tissues that affect the value of the panel.
Paragraph 2. Information referred to in paragraph 1 1 may be given by completing the form in Annex 1.
Chapter 3
Means Funds
§ 4. A mortgage carrier dealing with mortgages in real estate with consumers and receiving funds that belong to a consumer shall immediately insert these funds into a financial institution on a separate account, which is covered by a guarantee, cf. Chapter 4.
§ 5. A customer account is created in the company's name and is subject to the company's company.
§ 6. A customer account may only be created in financial institutions which, by a financial supervision approved by the Financial Regulation, have committed themselves to compliance with the provision in paragraph 1. 2.
Paragraph 2. Regardless of any other business with the company or any of its customers, the monetary institution shall not, by any other means, be able to dispense anything on a customer account, which is required to cover the undertaking ' s financial response to third parties ; for trusted funds.
§ 7. In the customer account, all trusted funds must be inserted within the first day of the day following receipt, including amounts paid by the consumer for the maintenance of the release for the consumer.
Paragraph 2. The amount of this is the amount of money that is immediately paid to the consumer.
§ 8. Every pantheonus company must conduct a list of the funds entrusted to it. The company must also have worked out a business process that ensures proper and timely registration of trusted funds.
§ 9. Annual Pantecarrier Company shall submit a statement with a high degree of safety to the SEC of a state certified or registered auditor that section 8 is complied with, including whether a random review of the summary view is carried out by a random sample. the customer account has identified significant errors or deficiencies herein.
Paragraph 2. The auditor ' s declaration must at the same time confirm that the company has complied with its obligation to inform the Financial supervision, provided that the company's turnover with the pawn mail for consumers has changed more than 25%, cf. Section 11 (1). THREE, TWO. Act.
Paragraph 3. Has a mortgage company's account book entry, cf. Section 8 has been flawed or, incidentally, the company violated the rules governing the treatment of trusted funds, the Financial supervision may require the company for one of the Financial supervision fixed period, or so far to submit a customer account declaration from the auditor, cf. paragraph 1 each quarter or with another of the surveillance fixed interval.
Chapter 4
Guarantee Guarantee for Trusted Funds
§ 10. It is a condition that pathematic companies, which are commercially acting in the business of solid property with consumers, may receive trusted funds, cf. section 4 9 that an insurance undertaking or a financial institution is available (hereinafter called guarantee provides) that :
1) guarantees as self-inflicted claims on the payment of trusted funds, cf. § § 4-9 which can be directed at the company of a consumer who deals with mortgages in real estate with the company,
2) the guarantee to which the guarantee has been lodged gives the guarantee a direct claim against guarantees ;
3) the guarantee shall cover requirements which relate to the funds entrusted with the date of the guarantee enter into force, and until the end of the guarantee period (warranty period), cf. § 12,
4) the guarantee must cover at least 1 year at a time, and
5) the guarantee has not been subject to any restrictions other than they are authorized by the notice.
§ 11. The SEC provides for the size of the guaranteed guarantee. In assessing the amount of the guarantee, the company ' s circulation of mortgages in solid property to consumers in the previous year shall be based on the company ' s business. In the case of an application for the authorisation of trade in pawn mail, the company shall submit a budget to provide the basis for the amount of the Guaranteing of the Guaranteians. However, no matter the size, safety should not be reduced to more than 5 million kroner.
Paragraph 2. For companies covered by the transitional arrangements, cf. Act on Pantecarrier Company, section 24 (2). 1 shall be submitted in the last calendar year's annual accounts or tax return.
Paragraph 3. The company is required to regularly assess whether the guarantee provided is sufficient to cover the requirements a consumer may have against the company. The company has a duty to inform the Financial supervision immediately where the company ' s circulation of mortgages in solid property with consumers in two consecuted quarters differs by more than 25% in relation to the turnover of the two most recently closed. quarterspeeches prior to the latest fixing of the guarantee.
Paragraph 4. A change in the company's turnover of 25% or more could cause the guarantee to be amended accordingly.
§ 12. The guarantee may be limited in time, so that it only covers requirements which are raised against guarantees no later than three years after the completion of the task which triggers the claim.
Paragraph 2. The period laid down in paragraph 1 1 shall be suspended at the time of the Siks prosecuting the company.
Paragraph 3. The guarantee shall be terminated only in the request of a guarantee, with effect from a certain date, which may not be able to enter in earlier than one month after receipt of the request in the Finance-sighted. However, warranties may require that the guarantee be brought to an end of the day following the receipt of the request in the Financial Regulation where the request is justified in the fraudulent circumstances of the company.
Chapter 5
Supervision and penalty
§ 13. The penalty shall be penalised by the failure to comply with an injunction granted under the Law on Panteing Companies.
Paragraph 2. Companies can be imposed on companies, etc. (legal persons) punishable by the rules of the penal code 5. Chapter.
§ 14. The announcement shall enter into force on the 15th. November, 2010.
Paragraph 2. The section 3 of the BekendtDecision shall apply only to pawn letters issued after the 15th. November, 2010.
Financial supervision, the eighth. November 2010
Ulrik Nutgaard
/ Annette Bjaaland Andersen
Appendix 1
Information on the pawn letter
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The property as the mortgage envelope gives the pant in :
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