Law on the rule of financial activities, the law on mortgage credit and mortgage bonds, etc., Act on Denmark's National Bank and various other laws 1)

(Strengthening the supervisory authority of the Financial Supervisory Company, clarifying the management and orientation of financial undertakings, etc., and changes to rules concerning suitability and integrity, etc.) ;

We, by God's grace, the Queen of the Danes, do our thing.

The parliament has adopted the following law, and we know that the following law has been approved by Parliament's consent :

§ 1

In the law of financial activities, cf. Law Order no. 467 of 29. In April 2010, the following changes are made :

1. I footnote to the title of the law, ' and parts of 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 2007), L 319, s. This is the case : parts of 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 2007), L 319, s. 1) and parts of Directive 2009 /111/EC of the European Parliament and of the Council of 16. September 2009 amending Directives 2 0 0 6 /4 8 / EC, 2006 /49/EC and 2007 /64/EC with respect to banks connected to central bodies, certain components of own funds, large exposures, supervisory arrangements and crisis management (CRD II). L302, s. '97)'.

2. I Section 1 (1). 2, in section 64 (4), 4 " to : section 64 (4). FIVE. "

3. Section 1 (1). 14-16, ITREAS :

" Stop. 14. Provisions concerning the management board or members thereof in section 5 (5). 1, no. 7, section 76, section 77, paragraph. One and three, section 78, paragraph. Paragraph 1, section 90, paragraph 1. 2, 6. 98, section 108, paragraph. 2 and 3, section 115, section 144, paragraph 1. Paragraph 1, section 199 (1). 9 and 10, section 203, 209, 247, and 299 and § 327 (3). In the case of a two-pronged management system, in the SE, in the SE companies, they shall apply only to the supervisory body or members thereof with the necessary adaptations.

Paragraph 15. Provisions on the governing board or members of the Management Board and of the provisions governing the management of section 14 (3) 1, no. 2, section 64, 65, 73-75, 80, 110 and 117, § 124, paragraph 1. One and four, paragraph 125, paragraph 1. 1 and 7, section 179, nr. 2, § 180, nr. 2, section 184, 185 and 233, section 289 (4). 1, $299, section 317 (3). 3, section 346, paragraph 1. 2 and 3, section 349, paragraph. 2, no. 2, section 351, section 355 (3). 2, no. 9, and paragraph 1. In the case of 3, section 356, 373 and 374, find in SE companies with a two-tier management system beyond the management body and its members shall also apply to the supervisory body, or members thereof, with the necessary adjustments.

Paragraph 16. For operators of regulated markets in this country, in another country within the European Union or in a country with which the Community has entered into agreement on the financial area, which is authorised by this Act, multilateral trade facilities, cf. Section 5 (5). 1, no. 20, find paragraph 9, paragraph 9. 9, section 14 (4). 1, no. 1, 3-6 and 8, and paragraph 1. 2-5, section 39, paragraph. 6, Chapter 7, § § 70 72, Chapter 9, § 125 (5). Paragraph 1 (1). 2, no. 1 and 2 (2). 5 and 7-9, sections 127-129, section 131, paragraph 1. 1-3 and 5, § 132, § 135, paragraph 1 and 2, sections 136 and 139, section 142, paragraph 1. Paragraph 1, section 143, section 204 (4). 1, section 223, section 224, paragraph 1. 6, section 226, paragraph. 5, section 344-352 and 355, section 361, paragraph 1. 1, no. 18, section 368-371, section 372, paragraph. 1, Section 373 and Annex 4, section A, nr. 8, use the deviations which the relationship necessitates. For operators of regulated markets, in another country within the European Union or in a country which the Community has concluded in the financial field which operates multilateral trade facilities from that country, 31, paragraph. 11, and section 32 use. For operators of regulated markets, in a country outside the European Union, which the Community has not signed up to in the financial field which operates multilateral trade facilities from this country, Section 32 shall apply. `

4. Section 5 (5). 1, no. 16, ITREAS :

" 16) Engagement : The sum of all intermediates with a customer or group of interconnected customers involving a credit risk for the company, and capital shares issued by the Customer or one of a group of interconnected customers. In the case of provisions on exposures in section 78, 145, 148 and 182, the following intermediends shall be excluded :

a) In the case of currency transactions : interconnectivity, arising in connection with the general conduct of a transaction, for a period of 48 hours after payment has taken place.

b) For the purchase or sale of securities : interconnectivity arising from the general conduct of a transaction for a period of five working days after payment has taken place or the securities supplied, depending on the date on which the payment was made ; There's first.

c) In the case of payment services, including the execution of payment orders, clearing and settlement of securities in any currency and correspondent bank or offer of clearing, settlement and disposal of financial instruments to customers : Intermediate delays on the receipt of financing and other end-of-the-end result caused by the customer activity and not taking longer than the following business day.

d) In the case of payment services, including the execution of payment orders, clearing and settlement of securities in any currency and correspondent bank : Intradiday intermediaries with institutions providing such services. `

5. I Section 5 (5). 6, no. 1, is replaced by "124-126" to : "124, 125 and 126".

6. I Section 7 (2). SIX, TWO. pkt., and Section 11 (1). FOUR, FIVE. pkt., the " Asset company section 153, paragraph, shall be amended. Two-six, " to the section 2 of the Corporate Act. 2-4, and section 3 and 347.

7. I Section 9 (1). THREE, ONE. pkt., change ' § 2, nr. 12 " to : " § 2, paragraph. TWO. "

8. I Section 11 (1). ONE, TWO. pkt., the words ' activities ` are replaced by ' insurance classes ` ;

9. I § 43, paragraph. 3, the words ' price information ' shall be replaced by ' price and risk information `.

10. I § 61, paragraph 1. 5, no. 1, the words ' legislation ` shall be replaced by : ' the law of a country `.

11. § 64 ITREAS :

" § 64. A member of the Management Board or the Executive Board of a financial undertaking shall have adequate experience of exercising his or his duties in the firm in question.

Paragraph 2. A member of the Management Board or the Executive Board shall fulfil the following :

1) may not be charged or imposed on impunity for infringement of the penal code, the financial legislation or other relevant legislation where the offence involves the risk that he may or may not be responsible for his or her position on the matter ; That's comforting.

2) Do not have notified payees, have filed for forced use, bankruptcy or debt relief, or be in the case of payment, in the process of insolvency proceedings, debt relief or obsessive-compulsive recussion.

3) In view of its economic situation or through a company which they own, participate in the operation of or having a significant impact on, or on the financial loss or risk of loss.

4) Do not have shown or show a behaviour in which there is reason to assume that they will not be responsible for the profession or the position in a responsible manner. When assessing whether a member of the Management Board or the Governing Board has shown or has exhiulted inequipting behaviour, the emphasis must be placed on the consideration of the need to maintain confidence in the financial sector.

Paragraph 3. Members of the Management Board or the Executive Board of a financial undertaking shall inform the Financial supervision of information relating to matters referred to in paragraph 1. 2 in connection with their entry into the management of the establishment, and if the conditions are subsequently changed.

Paragraph 4. Paragraph 1 (1). 2, no. 1, 2 and 4, and paragraph 1. 3 shall apply mutatis muctis to members of the Management Board and the Governing Board of a financial holding company.

Paragraph 5. Paragraph 1-4 shall apply mutatis muctis to the general agents, cf. § 35. "

12. I § 65 pasted as paragraph 2 :

" Stop. 2. The Financial supervision may lay down rules on the content of the Rules of Procedure.

13. I § 68 in section 92 (2), 2 and 3 "to :" § 93, paragraph. Two and three.

14. § 70 ITREAS :

" § 70. The management of a financial undertaking shall :

1) determine which main types of business activities are to be carried out ;

2) identify and quantify the essential risks of the undertaking and determine the risk profile of the company, including the fixing and the risks to which the undertaking must take ; and

3) establish policies on how to manage each undertaking ' s essential activities and the risks associated with it, taking into account the interactions of these.

Paragraph 2. On the basis of the established risk profile and the policies laid down, the Management Board of the Financial Company shall provide the Governing Board ' s written guidelines, which shall, at the very least, contain :

1) verifiable frames for which and the risks of the management of the management must be incurred by the management of the financial undertaking,

2) the principles for the specification of individual risk types,

3) rules on which arrangements require the management of the Management Board and the arrangements for the Governing Board to perform as part of its position ; and

4) rules on how and to what extent the Executive Board shall report to the Management Board on the risks of the financial undertaking, including the use of the framework in the guidelines for the Governing Board and of compliance with the limits laid down in legislation concerning the risks which the undertaking must undertake.

Paragraph 3. The management of the financial undertaking shall regularly decide on the company ' s risk profile and policies as well as the guidelines for the Governing Board are defenders in relation to its business activities, organization, and resources, including capital and liquidity, as well as the market conditions to which the company ' s activities are operated.

Paragraph 4. The management of the financial undertaking shall regularly assess whether the Governing Board shall carry out its tasks in accordance with the established risk profile, the policies laid down and the guidelines for the management. The Management Board shall take appropriate measures if this is not the case.

Paragraph 5. The financial supervision may lay down detailed rules concerning the obligations of the governing board of a financial undertaking pursuant to paragraph 1. ONE-FOUR. "

15. § 71 ITREAS :

" § 71. A financial undertaking must have effective forms of enterprise management, including

1) a clear organizational structure with a well-defined, transparent and consistent distribution of responsibilities ;

2) a good administrative and accounting practice ;

3) written business practices for all major areas of activity,

4) effective procedures for identifying, managing, monitoring and reporting on the risks to which the undertaking is or may be exposed ;

5) the resources necessary for the proper implementation of its operations, and the appropriate use of these ;

6) procedures for the separation of functions in connection with handling and prevention of conflicts of interest ;

7) adequate internal control procedures and

8) reassuring control and security measures in the IT area.

Paragraph 2. The SEC may lay down detailed rules on the measures a financial undertaking must take in order to have effective forms of enterprise management, cf. paragraph 1. "

16. § 84, paragraph. 1, ITREAS :

" The section 87 and 88 of the Corporate Act, section 89, paragraph 89. 1 and 3, section 90 (3). 1 and 2, sections 91 and 93, section 94 (3). Paragraph 1, section 96, paragraph. 2, section 97, paragraph. 3, sections 101, 102, 105, 108 and 109, section 111, paragraph 1. 1, no. Paragraph 1 and paragraph 1. 2 and 4, § § 112-115, § 117, paragraph 1 1, sections 118, 119, 121, 124, 127, 131 and 134, section 135, paragraph 1. 1, 2 and 5, and § 136-138 and 140-143 shall be subject to the necessary adjustments and with the derogations provided for in the provisions of this law, mutatis mutandis. ` ;

17. § 88, paragraph. 1, ITREAS :

" The Danish Act of Title 80 (5). 1-4, section 81, 87 and 88, section 89, paragraph. 1 and 3, section 90 (3). 1 and 2, sections 91 and 93, section 94 (3). Paragraph 1, section 96, paragraph. 2, section 97, paragraph. 3, sections 101, 102, 105, 108 and 109, section 111, paragraph 1. 1, no. Paragraph 1 and paragraph 1. 2 and 4, § § 112-115, § 117, paragraph 1 1, sections 118, 119, 121, 124, 127, 131 and 134, section 135, paragraph 1. 1, 2 and 5, and § 136-138 and 140-143 shall be subject to the necessary adjustments and with the deviations laid down in the provisions of this law, mutatis mutandis to andelskasser. ` ;

18. § 96 ITREAS :

" § 96. The Danish Act of Title 80 (3). 1-4, section 81, 87 and 88, section 89, paragraph. 1 and 3, section 90 (3). 1 and 2, sections 91 and 93, section 94 (3). Paragraph 1, section 96, paragraph. 2, section 97, paragraph. 3, sections 101, 102, 105, 108 and 109, section 111, paragraph 1. 1, no. Paragraph 1 and paragraph 1. 2 and 4, § § 112-115, § 117, paragraph 1 1, sections 118 and 119, section 120, paragraph 1. 1 and 3, sections 121, 124, 127, 131 and 134, section 135, paragraph 1. 1, 2 and 5, and § 136-138 and 140-143 shall be made with the necessary adjustments and in the deviations set out in the provisions of this law, corresponding to the use of an association of andelskasser. ` ;

19. I § 112 is replaced by ' Section 28 and 29 Company Law '.

20. § 114, paragraph 1. 1, ITREAS :

" The section 77 and 86-88, section 89, paragraph. 1 and 3, sections 92 and 93, section 94 (3). Paragraph 1, section 95, section 96, paragraph. 1, $100, § 101, paragraph 1. 1-4 and 8, section 102, paragraph 1. 1-3, section 104, paragraph 1. 2, section 105, section 111 (1). 1, no. Paragraph 1 and paragraph 1. 2 and 4, § § 112-115, § 117, paragraph 1 1, sections 118-122, 124-128, 131, 133 and 134, section 135, paragraph 1. " 1-3 and 5, section 136-141 and 143 shall apply mutatis mutandis to the provisions necessary and in the derogations provided for in this law applicable to mutual insurance undertakings. ` ;

21. § 114, paragraph 1. 3, ITREAS :

" Stop. 3. The section 76, paragraph, of the company. 2, 3 and 5, section 80 (3). 1-4, section 81, section 90, paragraph. 1 and 2, sections 91, 98 and 99, section 101 (3). 1, 2 and 4, section 102, paragraph 1. 1 3, and § § 108, 109, 125 and 126 shall also be subject to the necessary adjustments and with the deviations laid down in this law applicable to mutual insurance undertakings. ` ;

22. I § 118 inserted after paragraph 1. 3 as new paragraph :

" Stop. 4. Information relating to a pension or pension scheme set up in a financial institution as part of a labour market pension scheme may be used to provide advice on the system will be disclosed from the financial institution to an insurance management community that is the institution of the financial institution. `

paragraphs 4 and 5 shall then be referred to in paragraph 1. Five and six.

23. I Section 118 (1). 4, there will be paragraph 1. The fifth paragraph is replaced by paragraph 5. One to three : " ONE-FOUR.

24. I § 121, paragraph 1. 1, the ' paragraph shall be amended 3 ' shall be replaced by : 3 and 4. "

25. I § 125, paragraph 1. SEVEN, TWO. pkt., the basic capital shall be replaced by the ' base capital ` means the base capital of the base chapter.

26. After Section 125 is inserted :

" § 125 a. Regardless of section 124, paragraph 1. Article 125 (2) and Article 125 (1). 2-6, a company that uses an internal method for the calculation of risk-weighted risk items to credit risk or operational risk, cf. § 143, paragraph 1. Three, in 2010 and 2011, have a basic capital that is at least 6.4%. of the risk-weighted items, in accordance with the rules applicable on 31 December. In December 2006, or rules laid down in pursuits of paragraph 1. 2.

Paragraph 2. Where the requirements laid down in paragraph 1 shall be made. 1 may allow the company to use a simpler method than the one that is specified in the rules applicable to the 31. In December 2006, if the establishment can prove that the risk-weighted items will not be less than the risk-weighted items calculated according to the rules applicable on 31 December. December 2006. "

27. I § 127 ' 124-126 ` shall be replaced by : ' 124, 125 and 126 `, and in accordance with the ' paragraph of the ' paragraph, 5 ' shall be inserted : `, and in 2010 and 2011 for undertakings using an internal method of taking risk-weighted risk items for credit risk or operational risk, cf. § 143, paragraph 1. 3, also the minimum requirement for the base chapter of section 125 a `.

28. I § 129, paragraph 1. 1, no. 5, the ' paragraph shall be amended 3 ' shall be replaced by : 8 ".

29. § 129, paragraph 1. 2, ITREAS :

" Stop. 2. Hybrid core capital in accordance with paragraph 1. 1, no. Eight can be up to 50%. of the seed capital after the deductions referred to in section 131 (1). Paragraph 1 and paragraph. 2, no. 1, 4 and 5, cf. however, paragraph 1 5, if the contract for the debt foundation of hybrid core capital,

1) means that the hybrid seed capital must be converted to stock, guarantees or other capital if the monetary institution, the real credit institution, the Fund or the investment management company do not meet the capital requirement in section 127 or The other way is emergency.

2) shall mean that the hybrid core capital of the GL initiative may be converted to stock, guarantees or equity capital if the SEC assesses the presence of the financial institution, the real credit institution, the Fund Broker Company ; or the investment management company does not comply with the capital requirement in section 127 ;

3) does not contain incentives for the intake and

4) does not contain terms that the debt falls on a predetermined time. ` ;

30. I § 129, paragraph 1. 3, ' in the case of the debt foundation does not contain conditions for a rentestimation, cf. however, paragraph 1 6 "to :" does not provide incentives for the introduction or the terms of debt falling on a predetermined date ".

31. I § 129, paragraph 1. 4, in the case of the debt foundation, the provisions relating to a rentestimation shall be replaced by : ' Contains moderate incentives to include or contain terms that the debt falls at a predetermined time period ".

32. I § 129, paragraph 1. 6, in the case of a refund ' shall be replaced by ' and after ' yield payments ` shall be inserted : ' and conditions for increases in the price of entry, provided that such increases do not amount to more than 5%. from the sixth year and 10%. Seven years. "

33. I § 129, paragraph 1. 10, 1. pkt., in two places ' securitisation ` shall be replaced by : ' securitisation ` and in Two. Point. ' securitisation ` shall be replaced by ' securitisation ` ;

34. § 131, paragraph 1. 1, ITREAS :

" The core capital is reduced by

1) Proposed yield,

2) intangible assets,

3) tax inturies, cf. however, section 130 (3). 1, no. 4, and

4) an amount corresponding to the parts of the financial institution, the real credit institution, the Foundation for the Fund and the investment management companies, which, pursuant to Article 145 (3), shall be the commitments of the financial institution, which are in accordance with Article 145 (3). 11 shall not be subject to the provisions of Article 145 (3). ONE-THREE. "

35. § 131, paragraph 1. 2, no. 2 and 3, ITREAS :

" 2) the other half of the deductions referred to in section 139 (4). 1, no. 1-3,

3) the other half of the deductions referred to in section 139 (4). 1, no. 4-7, "

36. § 132 ITREAS :

" § 132. Hybrid core capital shall be taken into account in the base chapter of financial institutions, real-estate credit institutions, brokerers and investment management companies, cf. however, section 135 (3). 3 if the agreement meets the following conditions :

1) The hybrid core capital must be paid to the financial institution, the real credit institution, the fund-broker or investment management company.

2) Any pre-scheduled period for the precipitating of the hybrid nuclear capital may not be more than 30 years after the payment and may not be combined with incentives for the intake of it.

3) Except in the event of a possible predetermined time for the hybrid nuclear capital, it may only fall if the monetary institution, the real credit institution, the Fund or the investment management company shall enter liquidation, or declared bankrupt.

4) The hybrid seed capital may be paid only to the financial institution, the real credit institution, the Fund or the investment management company ' s initiative, with the authorisation of the Financial Authority and the earliest five years after the payment has been paid.

5) Any agreed-upon incentives for initiation must be moderate and must not be less than 10 years after the deposit is paid.

6) The financial institution ' s claim against the financial institution, the real credit institution, the fund broker or the investment management company shall be in accordance with all other non-outstanding debts and capital referred to in section 136.

7) The financial institution ' s claim against the financial institution, the real credit institution, the fund broker or the investment management company shall not be covered by the safety of the financial institution, the real credit institution, the Fund or the Fund or the Fund or the Fund or the Fund or the Fund ; the investment management company or undertakings referred to in section 181 (1). In any other way, a priority is guaranteed in relation to the financial institution, the real credit institution, the fund-broker or investment management company, other creditors.

8) The cancellation of the debt pursuant to the Agreement shall be suspended if the monetary institution, the real credit institution, the Fund or the investment management company does not meet the capital requirement in section 127.

9) The Pension Institute, the real credit institution, the fund broker and the investment management company must be able to decide that debt cancellation should be suspended if it is deemed necessary to preserve the financial health of the establishment.

10) The interest shall not be changed on the basis of the creditor ' s assessment of the financial institution, the real credit institution, the fund broker or the investment management company.

11) The Pension Institute, the real credit institution, the fund broker and the top authority of the investment management company shall be able to write down the hybrid core capital and non-paid interest, if the share, guarantee or share capital is reduced, or if the own funds in the series of real-banking funds in the real credit institutions shall be lost.

Paragraph 2. Notwithstanding paragraph 1 1, no. 4, may hybrid core capital with the Finance-synet authorisation shall be fulfilled earlier than five years after the payment in the case of a change in the fiscal or solvency proceedings of the instrument in question.

Paragraph 3. Notwithstanding paragraph 1 1, no. 4, hybrid core capital with the Finance synet authorisation shall be fulfilled earlier than five years after the payment of the deposit, provided that it is replaced by the amount of at least the same quality.

Paragraph 4. Notwithstanding paragraph 1 1, no. 11, the Agreement may include provisions on the possibility of depreciation of capital only if the monetary institution, the real credit institution, the fund broker or the investment management company are subsequently transferred to capital, so that : the capital requirement is fulfilled or discontinued without losses for the non-post creditors. The hybrid nuclear capital and unpaid interest rates can only be written down by an amount previously approved by the external auditors and the Finance-sighted.

Paragraph 5. The financial supervision may allow the financial institution, the real credit institution, the fund broker or the investment management company at all times to acquire own hybrid core capital to be owned by up to 3%. by the total issued capital, where the acquisition is made for the purpose of resale. Egen hybrid core capital after 1. Act. However, the maximum amount shall be 10%. for a single issue.

Paragraph 6. Notwithstanding paragraph 1 1, no. 4, any hybrid core capital issued under the Act of Government capital deposits in credit institutions and under contract for debt may be granted under the authorisation of the Financial Persians at the earliest three years after the payment has been made ; are included in the base chapter, provided that the core capital after the inlet is at least 12%.

Paragraph 7. The financial supervision may require the cancellation of the debt, provided that it is deemed necessary for the purposes of the financial situation of the financial institution, the real credit institution, the financial situation of the Fund or the investment management company, and the solvency of the financial institution.

Paragraph 8. The financial supervision may allow interest-rate payments which would otherwise be removed pursuant to paragraph 1. 1, no. 8 and 9 shall be replaced by stock, warranty or equity capital.

Niner. 9. The SEC may lay down detailed rules for :

1) debt repayment in accordance with paragraph 1. 1, no. 4,

2) moderate incentives for the intake pursuant to paragraph 1. 1, no. 5, and

3) depreciation of the hybrid core capital in accordance with paragraph 1. 1, no. 11. "

37. After paragraph 132, the following :

" § 132 a. Hybrid core capital, which could be included in the core capital prior to 1. July 2010, but which does not comply with all the requirements laid down in section 132, may be available to the 31. In December 2040, hybrid core capital satisfies the requirements of section 132, however, with the following limitations :

1) During the period from 1. January 2020 to the 31 st. In December 2029, such capital shall not be less than 20%. in the case of nuclear capital reduced by the value of its own shares, immaterial assets and the current deficit of the year.

2) During the period from 1. January 2030, to 31. In December 2039, such capital shall not exceed 10%. in the case of nuclear capital reduced by the value of its own shares, immaterial assets and the current deficit of the year.

Paragraph 2. Hybrid core capital, which could be included in up to 50%. of the nuclear capital, including hybrid core capital before 1. July, 2010, but which does not comply with the requirements laid down in section 129 (2). 2, no. 1, with hybrid seed capital satisfying the requirements of section 129 (4) ; 2, no. One, forward to the 31st. In December 2040, with the same limits as set out in paragraph 1. 1, no. One and two.

Paragraph 3. Hybrid core capital, which could be counted as up to 35%. of the nuclear capital, including hybrid core capital before 1. July, 2010, but which does not comply with the requirements laid down in section 129 (2). 2, no. 2, parallel with hybrid core capital that meets the requirements of section 129 (1). 2, no. Two, forward to the 31. In December 2040, with the same limits as set out in paragraph 1. 1, no. One and two. "

38. I § 135, paragraph 1. 1, no. 4, in the words ' securitisation, securitisatization ' shall be replaced by ' securitisation, securitisation positions ` ;

39. I § 135, paragraph 1. 2, pasted as Act 2. :

' In the calculation of this percentage, securitisation positions shall have a risk weight of 1,250 pct. do not count. `

40. I § 136, paragraph 1. 1, the following shall be inserted after ' fulfilled ' : `, cf. however, section 135 (3). 3 ".

41. I § 136, paragraph 1. 4, the following shall be inserted after ' loan capital ` : `, which shall be included in the calculation of the base chapter '.

42. I § 136, paragraph 1. 5, change ', cf. § 132, paragraph 1 2 "to :" on issue day. In the case of swapping, the difference is the difference between interest-rate interest rates and the original interest rate of the issue '.

43. § 136, paragraph 1. 6, ITREAS :

" Stop. 6. The financial supervision may allow the financial institution, the real credit institution, the fund broker or the investment management company at all times, to acquire own responsible loan capital for up to 3% of the ownership or security of up to 3%. the total of the total issued capital, but a maximum of 10%. by a single issue. '

44. I § 139, paragraph 1. 1, no. 2, the words ' mentioned institutions ` shall be replaced by ' mentioned undertakings which are not covered by a deduction pursuant to Article 145 (1). 11, cf. § 131, paragraph 1. 1, no. 4 ".

45. I § 139, paragraph 1. 1, no. 3, " or paragraph shall be amended. 2, no. 1 ' shall be : ', first paragraph, 2, no. 1 or deduction pursuant to Article 145 (3). 11, cf. § 131, paragraph 1. 1, no. 4 ".

46. I § 139, paragraph 1. 1, no. 4, in the words ' securitisation, securitisatization ' shall be replaced by ' securitisation, securitisation positions ` ;

47. I § 139, paragraph 1. 1, no. 6, the following shall be inserted after ' reduction ` shall mean the following : `, except for the amount of deducted pursuant to Article 145 (3). 11, cf. § 131, paragraph 1. 1, no. 4 ".

48. I § 139, paragraph 1. 1, pasted as no. 7 :

" 7) An amount corresponding to the value of securitisations positions, which, according to the rules adopted pursuant to section 143 (2), is equivalent to that of : 1, no. 1, a risk weight of 1,250 pctment shall be assigned, unless the amount is part of the inventory of the risk-weighted items or securitisation positions forming part of exposures in accordance with Article 145 (3). 11, cf. § 131, paragraph 1. 1, no. 4. "

49. I § 139, paragraph 1. 2, no. ONE, ONE. pkt., the following shall be inserted after ' financial institutions ` shall be inserted : `, which is not subject to deduction pursuant to Article 145 (3). 11, cf. § 131, paragraph 1. 1, no. 4 ".

50. I § 139 pasted as paragraph 10 :

" Stop. 10. In the calculation of the amounts in paragraph 1, 2, no. Paragraph 2 and 3 shall not be included in deductions pursuant to Article 145 (3). 11, cf. § 131, paragraph 1. 1, no. 4. "

51. I section 144, paragraph 1. ONE, ONE. and 2. pkt., the ' solvency requirement in section 124 (4) ; 2, no. Paragraph 1 and paragraph 1. 5 "to :" Capital requirement in section 127 ".

52. I section 144, paragraph 1. 4, is changed " according to Statstifying, cf. the provisions of the company ' s liability rules to : " through the IT system of the Commervices and Corporate Management System, cf. the provisions of the company law `.

53. § 145 ITREAS :

" § 145. A commitment, cf. Section 5 (5). 1, no. 16, with a customer or group of interconnected customers may, after deduction of special, safe parts and certainties, guarantees, etc. shall not exceed 25%. of the base capitalen, cf. § 128. The base capitale shall be discharged in accordance with section 135 (3). 1, no. 4, and of deductions pursuant to section 131 (1). 2, no. 3, and section 139 (3). 1, no. 4 and 5.

Paragraph 2. If the Customer is a financial institution, a credit institution, a fund-brokerage or investment management company, the exposures shall be paid in accordance with their deduction, respectively, to ensure that it is safe and uncertainties, guarantees and so on regardless of paragraph 1. 1 shall be up to EUR 1 billion. kr., provided

1) the commitments of the customers interconnected clients, which are not financial institutions, real credit institutions, fund brokers or investment management companies together, do not exceed the limit laid down in paragraph 1. 1 and

2) that the commitment does not exceed a reasonable limit in relation to the base chapter.

Paragraph 3. The limit in paragraph 1. 2, no. 2, shall be determined by the undertaking and must not exceed 100%. of the base capitale without a supplement pursuant to section 135 (3). 1, no. 4, and of deductions pursuant to section 131 (1). 2, no. 3, and section 139 (3). 1, no. 4 and 5. The Financial supervision may, in individual cases, permit a limit exceeding 100%. of the base capitale.

Paragraph 4. (0), (b) (b) (b) (b) (b) (b) (b) (b) (b) (b) (b) (b) or more of the base chapter, shall be reported to the Financial supervision each quarter. In the event of the inventory, the parts of the wholesalment consisting of repurchasing operations, loans or deposits in transferable securities or commodities shall be deductible after deduction of uncertainties, guarantees and so on.

Paragraph 5. Financial institutes, real-estate credit institutions, brokers ' companies and investment management companies authorised to use an internal method of taking account of risk-risk items for credit risk according to the rules issued under section 143 shall : each quarter reported the 20 largest exposures after deduction of particular secure parts.

Paragraph 6. Where the exposures are increased, the limits laid down in paragraph 1 shall be increased. 1 and 2, the Financial supervision shall immediately be informed. The Financial supervision may, where appropriate, set a time limit for complying with the limits laid down in paragraph 1. One and two.

Paragraph 7. The SEC may allow exposures to the trading book to exceed the limits set out in paragraph 1. The financial supervision may lay down terms of the permit. If the terms of the permit are to be overtaken, the SEC shall immediately be informed.

Paragraph 8. The borders of paragraph 1. 1 and 2 shall not apply to exposures to undertakings which are fully included in the consolidation, cf. Chapter 12.

Niner. 9. Amount from which the base capitale is deducted according to section 131 (2). 2, no. 2, and section 139 (3). 1, no. 1, do not include in Engagement with subsidiaries or affiliated companies operating insurance.

Paragraph 10. Amount from which the base capitale is deducted according to section 131 (2). 2, no. 2, and section 139 (3). 1, no. 2, and paragraph 1. 2, no. 1 and 2 shall not be included in the engagement with the issuer of the capital shares.

Paragraph 11. The financial supervision may allow exposures or parts of exposures to be exempted from the provisions of paragraph 1. 1 4 if the amount is deducted from the core capital pursuant to section 131 (1). 1, no. 3. "

54. § 148 ITREAS :

" § 148. The financial supervision may lay down detailed rules for :

1) the specification of a commitment with a customer or group of interconnected customers ;

2) the reporting of exposures in accordance with Article 145 (3). 4 and 5,

3) deductions in exposures to particularly safe parts,

4) deductions in exposures to the certainties, guarantees and so on,

5) the balance sheet, reporting and limits for the overall currency risks and other market risks ; and

6) requirements for obtaining authorisation pursuant to Article 145 (3). SEVEN. "

55. I § 150, 2. pkt., ' particularly safe requirements ' shall be replaced by : ' particularly safe parts, cf. § 148, no. 3 ".

56. I § 152 pasted as paragraph FOUR :

" Stop. 4. The financial supervision may lay down detailed rules on the rules laid down in paragraph 1. 1-3 conditions. ` ;

57. I section 152 g, paragraph 1. 1, the ' paragraph shall be amended The following shall be : 4 ".

58. section 152 g, paragraph 1. 2-4, is hereby repealed and the following shall be inserted :

" Stop. 2. For loans covered by § 152 e (3). 1 to be included in a register shall be that the loan limit must be complied with at the time the loan is subject to registration, or at the time the loan has been paid. If the loan limit has been complied with at the time of payment of the loan and has been exceeded at the time of entry, the loan limit shall be lodged with the loan limit for the loan concerned. The security cannot be lodged in the form of other loans where the loan limit has been exceeded.

Paragraph 3. Additional security shall be recorded separately and individualized in relation to the other assets that serve to the safety of the special covered bonds.

Paragraph 4. Financial instruments must be included in a register of assets only if they are used to cover risks between assets in the register on the one hand and the special covered bonds on the other side, and where the financial instrument was covered by the agreement on the financial year ; instrument is determined that the financial institution ' s payee of payment, bankruptcy or failure to comply with the obligation to provide additional security after Article 152 (a) (1). 2 is not default.

Paragraph 5. Assets, including financial instruments, in a register serve to the satisfaction of the holders of the special covered bonds and the counterparts with whom the financial instruments have been concluded, and then the loans granted after they have been taken, § 152 b, paragraph. 1.

Paragraph 6. The Financial Institute shall report to the Financial supervision, which assets, etc., are included in the Register. The SEC or the Financial supervision authoritages this, control the presence of these assets.

Paragraph 7. Security shall be lodged against a register belonging to a financial institution which is authorized to issue a special covered debt securities and which has been submitted by a financial counterpart to cover financial instruments, the Register shall be added. The same applies to the security lodged by another part of the financial institution as a counterpart to the register, even though the register at the time of the security is part of the company concerned. Guarantee after 1. and 2. Act. may not be used by the register as the basis for the issue of special covered bonds. ` ;

59. § 152 h, nr. 5 and 6, is hereby repealed and the following shall be inserted :

" 5) the granting of loans financed by the financial institutions by issuing a special covered debt securities, in cases where there is no definitive pantheon, as well as to the extent to which alternative security should be provided ; and security shall be provided in the form of a guarantee from a financial institution, to which extent this should not be included in the 15%-limit, cf. § 152 c (3) 1, no. 6 and 7,

6) the restriction of the risks associated with the issue of special covered debt securities, including the interest-rate risks, valuesici and risks ; and

7) the reporting of additional security for special covered bonds. ` ;

60. I § 170, paragraph. ONE, ONE. pkt., paragraph TWO, ONE. pkt., paragraph THREE, ONE. Act. and paragraph FOUR, ONE. pkt., shall be inserted after ' No One : "and § 125 a".

61. § 204, paragraph 1. 10, ITREAS :

" Stop. 10. merger plans, division plans and the statement by the rating men under section 242 of company law shall be sent for insurance undertakings within four weeks of the signature of the Financial supervision, which shall publish the receipt of the merger plan, the division plan and, the statement of judgement by the rating

62. I § 225, paragraph 1. 1, change ' and § 125 (1) 2-5 and 8 ` shall be replaced by ' § 125, paragraph 1. 2-5 and 8, and § 125 a ".

63. I § 244, 1. pkt., the ' solvency requirement in section 124 ` shall be replaced by ' the capital requirement in section 127 ` ;

64. I § 246 (4) 1 and 2, the following points shall be inserted after ' and 8 ` : ` and § 125 a `.

65. I § 246 (4) 5, change ' § § 105 and 106 ` to : "§ § 106 and 107".

66. I § 247 a inserted after paragraph 1. 2 as new slices :

" Stop. 3. The administration estate is an independent legal person.

Paragraph 4. Administrator must meet urgency requirements similar to requirements for curator and so on in the bankruptcy slots section 238 (4). 1 and 2. Administrator and any co-administrators must not be one and the same person as the curator in a bankruptcy nest after the monetary institution. Administrator and any co-administrators may not be employed in the same company as a curator. "

Paragraph 3-5 shall then be referred to in paragraph 3. 5-7.

67. I § 247 A, paragraph 5, there will be paragraph 1. 7, insert as Act 2. :

" § 152 h, no. 4 and 6 shall apply to the administration estate. '

68. I § 247 a pasted as paragraph 8-10 :

" Stop. 8. The provisions of this Act on the powers of the Economic and Finance Ministers and the Financial undertakings to the economic and economic and financial undertakings shall, with the necessary adjustments, shall apply to : The administration estate.

Niner. 9. Have administrator and potential co-administrators do not already have a liability insurance that may be considered sufficient to cover the Administration Boat's responsibility for errors and omissions during administration of the estate shall be required immediately after : the designation shall draw such insurance.

Paragraph 10. The administrator must immediately after the appointment of drawing of the usual guarantee insurance or other similar way to ensure the intake of losses. The amount of security shall be equal to 1% in any time. of the value of the assets, however, the maximum of 100 million. DKK During the period until an assessment of the value of the registered capital has been carried out after paragraph 247 b (b), 3, the security must be calculated from one of the administrator's estimated value. The cost of bail insurance is to be borne by the stock exchange rate. ` ;

69. § 247 b, paragraph. 4, is hereby repealed and the following shall be inserted :

" Stop. 4. The Penalty Institute shall continue to be liable for the necessary assets in the register, unagendability that this is under administration. Where it is assessed by the evaluation provided for in paragraph 1, 3 that the value of the registered stock does not correspond to the value of the bonds, financial instruments and loans, in accordance with section 152 b, paragraph. 1, as the assets are to be safe, the administrator must travel requirements against the financial institution for the fulfillment of the register, so that the value of assets corresponds to the value of bonds, financial instruments and loans. Similarly, the administrator must travel requirements against the financial institution for the fulfillment of the register, if at any time during the administration, it is established that the register is under-cover. If any delegate or part of the register is delegated, the purchaser will not be able to raise any new requirements against the financial institution if further subcontracting is incurred after the transfer. If only parts of the register are transferred, the financial institution shall continue to be liable for any subcontracting in the reaper of the register. If the financial institution declared bankruptcy, the provisions of section 247 shall apply.

Paragraph 5. Where it is placed in the assessment of the registered assets that the administration insolvent is insolvent, the administrator must file bankruptcy request. The Administrator must also file bankruptcy request if the administration has subsequently ascertains that the administration insolvent is insolvent. The administration's estate is insolvent if it cannot fulfil its obligations as they fall, unless the ability to pay is just to be transient.

Paragraph 6. The administration estate may not be completed before the duties of the boating under section 247 a and the registered assets covered by this Section have been transferred, cf. Section 247 g, submitted for bankruptcy and bankruptcy proceedings, or all the bonds that the assets in the register are for, are free and the financial instruments have been dismantalised. If there are any surplus funds in the estate at the end of the day, they shall be returned to the financial institution or the financial institution under bankruptcy, cf. § 247 d, paragraph 4. "

Paragk 5 and 6 will then be referred to in paragraph 1. Seven and eight.

70. After section 247 f is inserted before heading ' Special rules for insurance undertakings for re-establishment and other measures ' :

" § 247 g. The Administrator must, after the registered assets are assessed, cf. § 247 b, paragraph. 3, work to make it available to a credit institution authorized in a country within the European Union or in a country to which the Community has concluded Article 247 b of a credit institution which has been authorised in a country within the European Union or in a country. Agreement with the financial area and authorised to issue a special covered debt securities as defined in Annex VI, Part 1, section 68-71, of the Directive on the admission and pursuit of the business as a credit institution.

Paragraph 2. Unable to assign the asset ' s obligations under section 247 a and the registered assets covered by section 247 b, the administrator must operate the administration estate in accordance with the terms of section 247 h, unless the conditions for request for bankruptcy shall be present, cf. § 247 b, paragraph. 5. The Administrator shall, however, continue to work for the transfer of the following paragraph. 1.

Paragraph 3. The transfer of whole or part of the duties of the boss in accordance with section 247 a and registered assets covered by section 247 b to another credit institution, cf. paragraph 1, must be approved by the Minister for Economic Affairs and Industry. However, this shall not apply if individual assets are disposed of in accordance with section 247 h (1). 3.

Paragraph 4. Unless the Economic and Industry Minister considers that the transfer should not be approved, the Financial Board shall publish a statement on the proposed transfer in Statewide and in national newspapers. The deposition must include a call to the affected holders ' holders ' holders before one of the FGs, which shall not be less than 1 month, in writing to inform the Finance Board that they have objections to the transfer. The administrator must at the same time send notice of the proposed transfer and account to the bond owners that administrator knows the address of.

Paragraph 5. After the deadline referred to in paragraph 1, 4 shall take account of the objections raised by the Economic and Economic Affairs Minister, taking into account the objections to which the Register may be transferred in accordance with the proposed proposal.

Paragraph 6. The transfer may not be invoked as the reason for early release of payment obligations by the owners of the special covered bonds.

§ 247 h. The administrator can issue bonds for refinancing, in particular, covered bonds that expire. The bonds shall be referred to as refinancing bonds and shall not be referred to as a special covered debt securities. The financing will be given in the same way as the special covered bonds that they replace, security of the asset in the administration estate. The Administrator must not issue refinancing options if, after the issue, it is not possible to be sufficient funds in the estate for the payment of interest and payments to holders of special covered debt securities, if any ; financial instruments and counterparts on financial instruments. The administrator may also conclude contracts for financial instruments for the purpose of risk-covering.

Paragraph 2. Administrator can record short-term loans to cover the temporary liquidity deficit in the administration estate due to a lack of time-related coinciding between payments to the inhabited from borrowers and payments from the estate to bond owners. The application of such loans must be used solely for the payment of interest and payment to the owners of the special covered bonds and any refinancing bonds.

Paragraph 3. Administrator can sell assets from the estate to use to cover the temporary liquidity deficit in the administration estate due to a lack of time-related digesting between payments to the estate from borrowers and payments from the estate to bond owners. The sale of assets can only be reduced to a limited extent and at a minimum price fixed in advance.

§ 247 i. In the case of the management estate during bankruptcy proceedings, the estate shall be treated in accordance with the rules of the bankruptcy law, cf. however, paragraph 1 2.

Paragraph 2. The assets of the management estate, including financial instruments, discharged after deduction of the administrator ' s expenditure shall be used in the same proportion to the payment of claims by the holders of the special covered bonds, counterparts of the financial resources instruments for which the registered assets and agreements are situated for the purpose of holders of any refinancing bonds issued by the administrator pursuant to section 247 h (1). 1 and the coverage of loans which the administration estate has recorded pursuant to section 247 h (2) ; 2. Overshading means are included in the bankruptcy case, cf. Section 32 of the bankruptcy slop. `

71. I § 258 (4) 1, "§ § 21 and 22" shall be replaced by : "§ 24 and 25".

72. I § 333 a, paragraph. 2, no. 5, the following words shall be inserted after ' Community ` : ` or in conjunction with each of them '.

73. § 344, paragraph. FIVE, ONE. pkt., is hereby repealed and the following shall be inserted :

' Financial supervision shall organise the usual supervisory activities in order to promote financial stability and confidence in the financial undertakings and markets. The SEC must place the emphasis on the sustainability of the business model of the individual financial undertaking. The organisation of the supervisory plant must take place in the context of a significance in relation to the potential risks or the harmful effects of the supervisory body. ` ;

74. I § 345, paragraph 1. 2, is inserted after no 1 as new number :

" 2) take a decision on cases of injunction in accordance with section 347 b (3) ; 1, "

paragraphs 2 and 3 will be no. 3 and 4.

75. I § 345, paragraph 1. 8, 1. pkt., the ' no. 2 ` shall be : ` : 3 ".

76. The following section 347 is inserted :

" § 347 b. The SEC may offer a financial undertaking or a financial holding company to keep the cost of carrying out an investigation into one or more of the financial activities or financial activities of the financial undertaking or financial services ; holding company, if the SEC assesses that this is of major importance for the supervision of the undertaking and is not subject to the usual investigation of the Financial Commission.

Paragraph 2. The unwilling enquiry shall be carried out by one or more expert persons. The SEC is asking the financial company or financial holding company to suspend one or more experts in order to carry out the unwilling enquiry. If the qualified experts are not considered to be eligible and unwilling, the SEC may appoint other experts. The costs of such persons or experts may be provisionally issued by the Financial supervision, but shall be paid on a final basis by the financial undertaking or the financial holding company. The financial supervision may require the payment or security of a prior or an ongoing payment.

Paragraph 3. The financial undertaking or the financial holding company shall provide the experts with the experts with the information necessary for the conduct of the inferable investigation.

Paragraph 4. The results of the investigation shall be submitted in a written report to the Financial supervision, at the same time as a copy of the report shall be sent to the financial undertaking or the financial holding company.

Paragraph 5. The competent persons shall immediately give financial supervision to the SEC in respect of the non-determined investigation, provided there is no significant risk that such conditions may develop in such a way as to ensure that the undertaking is carried out ; will lose its permission. "

77. § 350, paragraph. 1, no. 2, ITREAS :

" 2) in such a way that the undertaking ' s economic position due to internal or external relations develops so that the undertaking will lose its permit. ` ;

78. § 352 a ITREAS :

" § 352 a. Where a financial undertaking has been declared bankrupt, the majority of the operation of the financial undertaking has been discharged or transferred, or where an insurance insurer has been taken under administration, the Finance Board shall prepare a account of the reasons for this, if one of the following conditions has been met in connection with or in a shorter period prior to the business of the undertaking, etc. :

1) Financial Stability A/S has contributed to the transfer of the company, cf. section 7 or 8 of the law of financial stability, or the State has suffered losses on an individual State guarantee in accordance with section 16 a in the law of financial stability.

2) The State has suffered losses in capital deposits in the business under the law of state capital deposits in credit institutions or on ownership certificates acquired by the State as part of the conversion of such capital.

3) The State has, by the way, provided a guarantee or made available to the company, its creditors, or a transferor of the whole or part of the company.

Paragraph 2. The financial supervision shall publish the statement in accordance with paragraph 1. 1. For the publication, Section 354 shall not apply, unless the information relates to customer relations or third parties who are or have been involved in the attempt to save the financial undertaking in question.

Paragraph 3. The decision to be taken pursuant to paragraph 1 1 shall describe the role of the financial services in the course of the business up to the bankruptcy and so on.

Paragraph 4. The duty of the financial system to draw up a statement pursuant to paragraph 1. Paragraph 1 shall also include the financial undertakings which fulfilled the requirements of the destination after 1. "March 2009."

79. I $360, paragraph. 1, the "appropriation deduced from the sale of goods and services and interest income shall be covered by taxes" to : ' revenue in the Finance Bill, excluding the sale of goods and services, are levied as a tax `.

80. I § 373, paragraph 1, " § § § 65-67 "to :" § 65 (5) 1, sections 66 and 67 "," § 118, paragraph 1. 4 ` shall be replaced by : ' § 118 (1). 5 ", after" § 125, paragraph The words " 1-3, 5 and 7 "are inserted : § 125 a,", after " § 129 (4). 9, the words ' Section 132, paragraph 1. 1, no. 4, "," § 145, paragraph. Paragraph 1-3 and paragraph 1. FOUR, ONE. ' shall be replaced by '. 145, paragraph 1. ` 1-3, paragraph 3. FOUR, ONE. pkt., paragraph -Five and a half. SIX, ONE. Act. "and" 150-152 "is replaced by :" 150 and 151, § 152, paragraph. ONE-THREE.

81. I § 373, paragraph 2, in the words ' section 70 ` shall be replaced by ' 70, paragraph 1. One-four ", post" section 199, paragraph. The following paragraph shall be added to paragraph 247 (a) (2) and (5). 9 and 10, section 347 b, paragraph. 3, ' and (b) ` shall be replaced by ' (b) `.

82. I § 373, paragraph THREE, ONE. pkt., the following shall be inserted after ' pursuant to ' : ' § 347 b (b), ONE, ONE. Pkton, ".

83. I § 373, paragraph 6 and 7, the following shall be inserted after ' issuer of electronic money ` shall be inserted : ' or the administrator in an administration establishment pursuant to section 247 a '.

84. I § 407, paragraph. 1, the words ' 12 and 13 ` shall be replaced by ' 5 `.

85. I § 407, paragraph. 2, the ' paragraph shall be amended 1, no. 1 ' shall mean the following paragraph : 2, no. 1, and the capital requirement in § 125 a `.

§ 2

In the area of mortgages and mortgage bonds, etc., and so on, cf. Law Order no. 898 of 4. September 2008, as amended by Section 8 of Law No 392 of 25. In May 2009, the following changes are made :

1. § 31 ITREAS :

" § 31. The exchange rate shall be used for the payment of requirements in accordance with the rules laid down in Chapter 10 of the bankruptcy law. Requirements from the proprietor of mortgage bonds, in particular covered mortgage bonds, in particular covered debt securities, refinancing bonds and other securities and requirements from the decree of bankruptcy for the claimed debts shall be paid in equal conditions, in accordance with the requirements of the bankruptcy of the bankruptcy slots, but before the claims in the bankruptcy of the bankruptcy slots section 97. `

2. Section 32 (1). ONE, TWO. pkt., the words are deleted and the following :

With the agreement of the overboard, mortgage credit institutions can conclude agreements on financial instruments, to accept loans for payments in 1. Act. and to provide security for such loans in assets other than mortgage mortgages, which are security of bonds, associated with the series of serial funds, for which payment is made. In the case of debt repayment of debt securities which lapse, the supervision may also issue refinancing bonds in the series in question. ` ;

3. Section 32 (1). TWO, THREE. pkt., the words are deleted and the following :

' Courier may conclude agreements on financial instruments, to accept loans for payments in 1. Act. and to provide security for such loans in assets other than mortgage mortgages, which are security of bonds, associated with the series of serial funds, for which payment is made. In addition to the provision of debt securities which expire, the courier shall also issue refinancing bonds to compensate for expired bonds in the series in question. ' ;

4. I § 32 pasted as paragraph 3-5 :

" Stop. 3. Refinancing bonds shall obtain equivalent security as the mortgage bonds, in particular covered bonds, in particular covered mortgage bonds, or any refinancing bonds, which the refinancing will replace, cf. ~ ~ 27, 27 a and 27 b. ~

Paragraph 4. The supervision or curator shall not issue refinancing bonds if, after the issue, it is not possible to be sufficient to provide funds for the payment of creditors as specified in section 27 (3). ONE, ONE. pkt., as well as requirements from counterparts on financial instruments, cf. § 27, paragraph. 3, in the series or groups with the serieresserver foundation.

Paragraph 5. Resume the oversight or curator loan other than refinancing bonds for use in order to meet payment obligations in accordance with requirements from the holders of mortgage bonds, in particular covered mortgage bonds and in particular covered debt securities or debt securities issued in series or groups of series with a series of serial reserves may be appointed by the auditing or curator as a basis for the borrowing of no matter where paragraph is taken. 1 and 2 provide security in the next mortgage payment from the borrowers on mortgage mortglars. ` ;

5. The following section is added :

" § 32 a. There can be no transfer of funds between series with the series of reserves with a series of reserves and the mortgage credit institution, by the way, after notification of payment or termination of bankruptcy law. `

6. § 33 ITREAS :

" § 33. The liquidator or the real credit institution may, with the consent of the PO, enter into agreement on the overall transfer of a series or groups of series of series with the serial reserve funds to another realm of credit, which has been authorised in a country within the said area ; European Union or a country with which the Community has concluded agreements in the financial sphere and which has permission to issue mortgage bonds, in particular covered debt securities or in particular covered mortgage bonds.

Paragraph 2. The transfer of a series or groups of series of series with a series of serial reserves requires the granting of an authorisation for the Economic and Business Affairs Minister. The application for a transfer shall be accompanied by the contractual basis between the real credit institution, which is in the case of payment or in the process of bankruptcy, and the company that wishes to acquire the series or series of the serieressvefund. In addition to the actual agreement itself, the Economic and Business Affairs Minister must undertake an assessment of the company to take over the series or groups of series with the Serial Fund, including, in particular, whether the company complies with the financial regulation.

Paragraph 3. Unless the Economic and Industry Minister considers that the transfer should not be approved, the Financial Board shall publish a statement on the proposed transfer in Statewide and in national newspapers. The statement shall make an appeal to the holders concerned to be concerned before a time limit laid down by the Financial supervision which shall not be less than one month, in writing to notify the Financial supervision of the Financial Authority if they have objections to the transfer.

Paragraph 4. After the end of the item in paragraph 1. The Economic and Business Minister shall take account of the objections raised by the Economic and Business Minister, taking into account the objections raised by the decision on whether the series or groups of series of series with the seriervevefund can be transferred in accordance with the proposed proposal.

Paragraph 5. The transfer may not be invoked by holders of debt securities issued by the giving mortgage credit institution, which is the cause of early payment of payment obligations. In addition, the transfer shall not deduct the transferee ' s transferee ' s right to make whole or partial deposits of mortgages in accordance with the specific conditions of introduction applicable to the loan. `

7. Section 33 d (d) 2, is hereby repealed and the following shall be inserted :

" Stop. 2. Where the mortgage credit institution does not provide additional security in accordance with paragraph 1, ONE, ONE. in the case of a series of bonds issued in the series with the serial reserve fund in particular covered mortgage bonds, or in particular covered debt securities. The bonds that are losing the description in particular covered mortgage bonds, or in particular covered bonds, may be terralist mortgage bonds if they meet the requirements of the legislation in the legislation at the time of the tender for loans to the requirements for mortgage bonds.

Paragraph 3. The financial supervision may be dispensers from paragraph 1. TWO, TWO. PC, regardless of the fact that the bonds fail to comply with the requirements of the legislation in the area of mortgage credit bonds. Serial with serieses ' funds that are surpassed to the term mortgage bonds after 1. PC shall be kept separate from other funds in the real credit institution. Additional security already provided, cf. paragraph ONE, ONE. pkt; belongs to the series of serieresers which have been reclassified pursuant to paragraph 1. TWO. "

paragraphs 3 and 4 are then referred to in paragraph 1. 4 and 5.

8. I section 33 e (s). 1, the following ' special covered debt securities ` means the following : ' or in particular covered real-credit bonds `.

9. § 33 f ITREAS :

" § 33 f. Financial supervision shall lay down rules for :

1) the valuation of the mortgages issued in particular covered mortgage bonds or in particular covered debt securities and the continuous inventory of assets in relation to the specific covered mortgage bonds or the special covered debt securities ;

2) the valuation of assets located to the security of the issue of specific covering mortgage bonds or in particular covered debt securities, and

3) the reporting of additional security for special covered debt securities or in particular covered mortgage bonds. ` ;

§ 3

In the Act of a Shipping Financial Institute, cf. Law Order no. 1376 of 10. In December 2007, as amended by Section 12 of Law No 516 of 12. In June 2009, the following changes are made :

1. § 2 i, paragraph 1 2, is hereby repealed and the following shall be inserted :

" Stop. 2. If the Institute does not provide additional security in accordance with paragraph 1 ONE, ONE. PC, all bonds issued in the capital centre in question shall be used as a special bond of debt securities. The bonds that are losing the description in particular covered bonds may be classified as ship credits if, at the time of the tender on loans, they comply with the requirements of the legislation of the legislation on ship credits.

Paragraph 3. The financial supervision may be dispensers from paragraph 1. TWO, TWO. PC, regardless of the fact that the bonds fail to comply with the requirements of the legislation of the legislation of the ship. Fund centres, which are surpassed by the name of ship circuit, shall be as required by 1. .. shall be kept separate from other funds at the Institute. Additional security already provided, cf. paragraph ONE, ONE. pkt; belongs to the Capital Centre which has been reclassified in accordance with paragraph 1. TWO. "

paragraphs 3 and 4 are then referred to in paragraph 1. 4 and 5.

2. Section 5 (5). 4, no. 5 and 6, is hereby repealed and the following shall be inserted :

" 5) under which conditions may be provided for the construction of a new or conversion of ships, cf. § 152 c (3) 1, no. 2, in the law of financial activities,

6) limitations on the risks of debt securities, including the interest-rate risks, currency risks and risks ; and

7) the reporting of additional security for special covered bonds. ` ;

§ 4

In the Act of securities trading, etc., cf. Law Order no. 795 of 20. In August 2009, as amended by Section 9 of Law No 516 of 12. June 2009 and section 2 of the Law No 1273 of 16. In December 2009, the following changes are made :

1. § 9 ITREAS :

" § 9. A member of the Management Board or the Board of Directors in a company subject to section 7 (4). 1, shall have adequate experience of exercising his duties or fulfilling its position in the establishment concerned.

Paragraph 2. A member of the Management Board or the Board of Directors in a company subject to section 7 (4). 1 shall comply with the following :

1) may not be charged or imposed on impunity for infringement of the penal code, the financial legislation or other relevant legislation where the offence involves the risk that he may or may not be responsible for his or her position on the matter ; That's comforting.

2) Do not have notified payees, have filed for forced use, bankruptcy or debt relief, or be in the case of payment, in the process of insolvency proceedings, debt relief or obsessive-compulsive recussion.

3) Do not have shown or show a behaviour in which there is reason to assume that they will not be responsible for the profession or the position in a responsible manner. When assessing whether a member of the Management Board or the Governing Board has shown or has exhiulted inequipting behaviour, the emphasis must be placed on the consideration of the need to maintain confidence in the financial sector.

Paragraph 3. Members of the Management Board or the Governing Board of a company subject to section 7 (4). 1, the Financial supervision information referred to in paragraph 1 shall provide information on the facts. 2 in connection with their entry into the management of the establishment, and if the conditions are subsequently changed.

Paragraph 4. The person (s) who, in fact, lead an already approved operator of a regulated market's operations in accordance with the rules laid down in the Financial Instruments Directive (MiFID Directive) are considered to meet the requirements of paragraph 1. 1 in relation to the request for authorization to operate a regulated market. ` ;

2. I ~ 10 (1)) 5, no. 1, the words ' legislation ` shall be replaced by : ' the law of a country `.

3. I § 28 A, paragraph 1 4, no. 4 (b), the ' paragraph shall be amended 1, no. One to five : " Two and three.

4. Section 31 (1). 3, ITREAS :

" Stop. 3. In addition, the determination of a vested influence shall be obtained when a person who does not own more than half of the voting rights in a company has :

1) raw more than half of the voting rights in force of an agreement with other investors ;

2) the power to control the financial and operational conditions of a company in accordance with a statute or agreement ;

3) the power to designate or dismiss the majority of the members of the executive body, and this body has the bogey influence over the company, or

4) possession of more than one third of the voting rights of the company and the actual majority of the votes of the General Assembly or a similar body, thereby having the actual determining influence over the company. ` ;

5. § 84 f ITREAS :

" § 84 f. In the case of a limited liability company in section 7 (4). 1, or other oversight establishments covered by this law have been declared bankrupt or the majority of the company's operations have been discharged or transferred, the Financial Supervisory Board shall prepare a statement on the reasons for such action, if the State in the case of or in a shorter period prior to this has provided a guarantee or made available to the company, its creditors, or a transferor of the whole or part of the company.

Paragraph 2. The financial supervision shall publish the statement in accordance with paragraph 1. 1. For the publication, Section 84 is not applicable unless information relates to customer relations or third parties who are or have been involved in the attempt to save the company in question.

Paragraph 3. The decision to be taken pursuant to paragraph 1 1 shall describe the role of the financial services in the course of the business up to the bankruptcy and the '. `

6. I § 93, paragraph. 1, is inserted after ' § 8 a, paragraph 1. Article 9 (2) ' : ' 9 (1). 3, ".

§ 5

Law no. 385 of 25. May 2009 on payment services, as amended by Section 4 of Act 4. 1273 of 16. In December 2009, the following changes are made :

1. I Section 5 (5). 2, change ' § § 55, ` to : " § 55, section 57, paragraph. 3, and section ".

2. § 18 ITREAS :

" § 18. A member of the Management Board or the Executive Board of a payment institution and, where applicable, the executive officer responsible for the company ' s payment service activities, must have complete experience of his or his or his position in the Commission ' s payment services ; the company concerned.

Paragraph 2. A member of the Management Board or the Management Board and, where applicable, the executive officer responsible for the company ' s payment service activities shall comply with the following :

1) may not be charged or imposed on impunity for infringement of the penal code, the financial legislation or other relevant legislation where the offence involves the risk that he may or may not be responsible for his or her position on the matter ; That's comforting.

2) Do not have notified payees, have filed for forced use, bankruptcy or debt relief, or be in the case of payment, in the process of insolvency proceedings, debt relief or obsessive-compulsive recussion.

3) In view of its economic situation or through a company which they own, participate in the operation of or having a significant impact on, or on the financial loss or risk of loss.

4) Do not have shown or show a behaviour in which there is reason to assume that they will not be responsible for the profession or the position in a responsible manner. When assessing whether a member of the Management Board or the Governing Board has shown or has exhiulted inequipting behaviour, the emphasis must be placed on the consideration of the need to maintain confidence in the financial sector.

Paragraph 3. Members of the Management Board or the Executive Board of a payment institution and, where applicable, the Executive Officer of the company ' s payment service undertaking, shall provide the Financial supervision of information relating to matters referred to in paragraph 1. 2 in connection with their entry into the management of the establishment, and if the circumstances are subsequently changed. '

3. I § 86, paragraph. 1, pasted as Act 2. :

' Similarly, Articles 3, 4 and 8 of Regulation No 2 of the European Parliament and of the Council shall apply, 924/2009 on intra-Community cross-border payments and repealing Regulation (EC) No 2 ; 2560/2001. "

4. I § 86, paragraph. 2, the following paragraphs shall be added after ' Chapter 5-8 ` : ' and Articles 3, 4 and 8 of Regulation No 2 of the Regulation of the European Parliament and of the Council 924/2009 on intra-Community cross-border payments and repealing Regulation (EC) No 2 ; 2560/2001 ".

5. I § 89 the following provisions shall be inserted after ' provisions ' means : ' and Article 3 (1) Article 4 (1) and Article 4 (2), The provisions of Amendments Nos 1, 3 and 4 and Article 8 of Regulation No 2 of the European Parliament and 924/2009 on intra-Community cross-border payments and repealing Regulation (EC) No 2 ; 2560/2001 ".

6. after Article 89 is inserted :

" § 89 a. The SEC may offer a payment institution or a company with limited authorisation for the provision of payment services to set up a director in the Institute or the undertaking within a time limit set by the Financial supervision, if this is, after Section 18 (2), Two, can't fight the score.

Paragraph 2. The SEC may offer a member of the Administrative Board in a payment institution or a company with a limited permit for the provision of payment services to disclose its office within a time limit set by the Financial supervision, if he is subject to section 18 (2). Two, can't fight the recruits.

Paragraph 3. The SEC may offer a payment institution or a company with a limited permit for the provision of payment services to set up a director when charged with the Director of a criminal offence against the criminal code of the criminal code or the administration of the contract ; financial legislation until the criminal proceedings are decided if the conviction of the sentence implies that he does not comply with the requirements of section 18 (3). 2, no. 1. the SEC shall set a time limit for the compliance of the supply. The financial supervision may, under the same conditions as 1. Act. offer a member of the Administrative Board in a payment institution or a company with limited authorisation for the sale of the payment services, to lay down its duties ; the SEC of the Financial Authority shall set a time limit for the supply of tenders.

Paragraph 4. The duration of the buldup granted in accordance with paragraph 1. 2 on the basis of section 18 (2). 2, no. 2, 3 or 4 shall appear on the supply.

Paragraph 5. Opens issued pursuant to paragraph 1. 1-3 may, by means of the payment department or the undertaking, with limited authorisation for the provision of payment services and by the person to whom the tender relates is submitted to the courts. Request to this effect must be submitted to the SEC, within 4 weeks of the invitation to tender for the person concerned. The request shall not affect the tender, but the court may decide by ruling that the director or member of the Board of Directors shall be able to maintain his position or his position. The SEC will be deposits within 4 weeks of the case before the courts. The case is being put in the form of the right of civil justice.

Paragraph 6. The financial supervision may, by its own operation or by application, revoke an injunction notified in accordance with paragraph 1. 2 and paragraph 1. 3, 3. Act. If the Financial supervision an application for revocation is refused, the applicant may require the refusal to be submitted to the courts. Request to this effect must be submitted to the SEC, within 4 weeks of the refusal of the person concerned. However, the application for a judicial review may not be made only if the prohibition is not limited and has elapated at least five years from the date of issue of the contract or at least two years after the revocation of the Financial Supply of the Financial Supply is confirmed by the judgment.

Paragraph 7. In the case of the payment institute or the company with limited authorisation for the provision of payment services, the Director shall not be granted the Director within the time limit, the Finance-SEC may include the undertaking ' s permit, cf. § 90. The SEC may also involve the undertaking ' s permit, cf. Article 90 if a member of the board does not comply with an injunction in accordance with paragraph 1. Two and three. "

7. I $94, paragraph. 1, pasted as Act 2. :

" 1. Act. for the purposes of Articles 3, 4 and 8 of the European Parliament and of the Council, shall apply mutatis muth. 924/2009 on intra-Community cross-border payments and repealing Regulation (EC) No 2 ; 2560/2001. "

8. I ~ 98, paragraph. 1 and 2, the following shall be inserted after ' 77-81 ` : ' and Articles 6 and 7 of Regulation No 2 of the European Parliament and of the Council 924/2009 on intra-Community cross-border payments and repealing Regulation (EC) No 2 ; 2560/2001 ".

9. I Section 107, paragraph 1. 2, the words ' § 105 ` shall be replaced by : ' § 105 and Article 3 (4). Paragraph 1, Article 4 (1), Articles 6 and 7 and Article 8 (4), and Article 8 (3), Regulation No 1, in the European Parliament and of the Council 924/2009 on intra-Community cross-border payments and repealing Regulation (EC) No 2 ; 2560/2001 ".

10. I Section 107, paragraph 1. 3, inserted after "§ 89," : " § 89 a, paragraph. 2 and paragraph 1. THREE, TWO. Pkton, ".

11. I Annex 2 section is replaced "Method C" Thus :

" Method C

Calculation basis : The Foundation's net income.

The base capital of the payment institution shall amount to a sum equal to the sum of the following elements multiplied by the conversion factor defined in paragraph 2 :

a) 10%. of the relevant part of the relevant indicator, up to 2,5 million. Euro plus

b) 8%. by the relevant part of the relevant indicator of 2,5 million. Euro up to 5 million. Euro plus

c) Six pct. by the relevant part of the relevant indicator of 5 million, Euros up to 25 million. Euro plus

d) 3%. by the relevant part of the relevant indicator from 25 million ; Euro up to 50 million. Euro plus

(e) 1.5%. by the relevant part of the relevant indicator of over 50 million. Euro.

The relevant indicator shall be made out of the sum of interest income, interest rate expenditure, receipts and fees received and other operating income. Each element is included in the sum of positive or negative sign. Income from extraordinary or exceptional items respectively shall not be included. The costs of outsourcing services supplied by a third party may be included where such expenditure is charged by a company established in a country within the European Union or in a country outside the European Union, which the Community has, concluded agreement in the financial sphere.

The appropriate indicator will be calculated over the previous year. If the payment institute has not yet completed a year of operation on the date of calculation, the calculation shall be used as the basis for calculating the net revenue set out in the Foundation ' s estimates for the coming year.

However, the base chapter shall amount to a minimum amount calculated in accordance with this method, where the relevant indicator represents 80%. of the average for the previous two years, if the Foundation has carried out two years of operation or more, and for the previous three years, if the company has completed 3 years of operation or more. ` ;

§ 6

In the Law on investment associations and special associations, as well as other collective investment schemes, etc., cf. Law Order no. 807 of 21. In August 2009, as amended by Section 10 of Law No 516 of 12. June 2009 and section 5 of the Act of Law No 1273 of 16. In December 2009, the following changes are made :

1. I § 21 a "§ 92" to : "§ 77".

2. Section 26 (1). 6-8, revoked.

3. § 31 ITREAS :

" § 31. A member of the Management Board or the Executive Board of the Board shall have adequate experience of exercising his or his position in the association in question.

Paragraph 2. A member of the Management Board or the Executive Board shall fulfil the following :

1) may not be charged or imposed on impunity for infringement of the penal code, the financial legislation or other relevant legislation where the offence involves the risk that he may or may not be responsible for his or her position on the matter ; That's comforting.

2) Do not have notified payees, have filed for forced use, bankruptcy or debt relief, or be in the case of payment, in the process of insolvency proceedings, debt relief or obsessive-compulsive recussion.

3) Do not result in his financial situation or through a company which they own, participate in the running of, or have a significant influence on, have inflict or inflict any loss or loss of any kind.

4) Do not have shown or show a behaviour in which there is reason to assume that they will not be responsible for the profession or the position in a responsible manner. When assessing whether a member of the Management Board or the Governing Board has shown or has exhiulted inequipting behaviour, the emphasis must be placed on the consideration of the need to maintain confidence in the financial sector.

Paragraph 3. Members of the Management Board or the Governing Board of a Association shall notify the Financial supervision of information relating to matters referred to in paragraph 1. 2 in connection with their entry into the management of the association, and if the conditions are subsequently changed. '

4. After paragraph 36 is inserted :

" § 36 a. The Management Board shall provide a responsible organization of the organization ' s activities to be in conformity with the law and the association ' s statutes. The Management Board shall decide whether the association ' s assets at all times are defenders in relation to the operation of the association. The Management Board shall ensure that the accounts and assets management are checked in a way that, after the association's conditions, is satisfactory.

Paragraph 2. The Management Board shall, at a time of procedure, lay down detailed rules for the performance of its duties.

Paragraph 3. The SEC may lay down detailed rules on the content of the Rules of Procedure.

§ 36 b. The Management Board shall

1) establish the overall policy of the association ' s activities,

2) determine the risk profile of the association or department and any shareholdings, and the investment policy laid down in the Staff Regulations ;

3) identify and quantify the essential risks and the essential risks of the association and / or of the shares and of the shareholdings ;

4) identify and deal with conflicts of interest between the association and other associations between departments and other classes and between the association and its contract partners.

Paragraph 2. On the basis of the framework of the law and of the Staff Regulations and the established risk profile, the Management Board shall provide the Governing Board of the Governing Board which, at least, must include :

1) verifiable frames for which and where the high risk of the management must be associated with the association or department and any other classes,

2) the principles for the specification of individual risk types,

3) rules on which arrangements require the management of the Management Board and the arrangements for the Governing Board to perform as part of its position ; and

4) rules on how and to what extent the Governing Board shall report to the Management Board on the risks of association or departmental and potential shareholdings, including the use of the framework of the law and in the guidelines for the management and, compliance with the limits laid down in the law concerning the risks to which the association must take on board and in the statutes.

Paragraph 3. The Management Board shall regularly decide whether the association ' s statutes and association or department ' s risk profile and the guidelines for the Governing Board are defenders in relation to the association ' s organisation and resources ; the liquidity and complexity of investment and the market conditions which the association is subject to.

Paragraph 4. The Management Board shall regularly assess whether the Governing Board shall perform its tasks in accordance with the association ' s statutes and of the association or department and any other classes laid down, and the guidelines for the Governing Board. The Management Board shall take appropriate measures if this is not the case.

Paragraph 5. The financial supervision may lay down detailed rules concerning the obligations of the governing board of a association pursuant to paragraph 1. ONE-FOUR. "

5. § 37, paragraph. 1-3, ITREAS :

" A union must have effective forms of corporate governance, including

1) a clear organizational structure with a well-defined, transparent and consistent distribution of responsibilities ;

2) a good administrative and accounting practice ;

3) written business practices for all major areas of activity,

4) effective procedures for identifying, managing, monitoring and reporting on the risks to which the association is or may be exposed ;

5) the resources necessary for the proper implementation of its activities and the appropriate use of these ;

6) procedures for the separation of functions in connection with handling and prevention of conflicts of interest ;

7) adequate internal control procedures and

8) reassuring control and security measures in the IT area.

Paragraph 2. A society must build and organise its business in such a way that the risk of conflicts of interest will be limited as much as possible.

Paragraph 3. The SEC may lay down detailed rules on the measures to be taken by association in order to have effective forms of enterprise management, cf. paragraph 1. "

6. I § 110 m (2) (b) 1, in section 26, paragraph 1 shall be amended. 1, 6, 7 and 8, ' to : '. 26, paragraph. 1, and in accordance with section 67 (4). 4, section ' is inserted : '68 and'.

7. § 122 a ITREAS :

" § 122 a. In cases where a association or department is declared bankrupt or the majority of the operation of the association or department has been discharged or transferred, the Financial Board shall prepare a statement on the causes of this, if the State in the case of or in a the period prior to this has provided a guarantee or made available to the association or department, its creditors, or any transferor of the whole or part of the association or department.

Paragraph 2. The financial supervision shall publish the statement in accordance with paragraph 1. 1. For the publication, section 123 shall not apply, unless the information relates to customer relations or third parties who are or have been involved in attempts to rescue that association or department.

Paragraph 3. The decision to be taken pursuant to paragraph 1 1 shall describe the role of the financial services in the course of the business up to the bankruptcy and the '. `

8. I § 132, paragraph 1 1, in section 26, paragraph 1 shall be amended. 1 and 6-8 ` shall be replaced by : ' 26, paragraph 1. the following section shall be added : ', section 36 (a) (a). 1 and 2, and section 36 b (b), ONE-FOUR.

§ 7

In the law of insurance intermediation, cf. Law Order no. 930 of 18. September 2008, as amended by Section 9 of Law No 1. 392 of 25. In May 2009, the following changes are made :

1. § 8 ITREAS :

" § 8. A member of the Management Board or the Executive Board shall have adequate experience of exercising his duties or fulfilling his position in the undertaking concerned.

Paragraph 2. Persons covered by Section 5-7 must satisfy the following :

1) may not be charged or imposed on impunity for infringement of the penal code, the financial legislation or other relevant legislation where the offence involves the risk that he may or may not be responsible for his or her position on the matter ; That's comforting.

2) Do not have notified payees, have filed for forced use, bankruptcy or debt relief, or be in the case of payment, in the process of insolvency proceedings, debt relief or obsessive-compulsive recussion.

3) Do not have shown or show a behaviour in which there is reason to assume that they will not be responsible for the profession or the position in a responsible manner. For the assessment of whether a person covered by section 5 or 7 shows or has exhiulted inequitenable behaviour, the emphasis must be placed on the concern to maintain confidence in the financial sector.

Paragraph 3. Persons covered by Section 5-7 shall give the Financial supervision information relating to matters referred to in paragraph 1. 2 for their entry into the establishment, and if the circumstances are subsequently changed. `

2. I Section 54 (1). 1, inserted after "§ 4," : " § 8 (1) 3, ".

§ 8

On the supervision of company pension funds, cf. Law Order no. 1561 of 19. In December 2007, as amended by Section 3 of Law No 515 of 17. June 2008, section 4 of law no. 517 of 17. June 2008, section 5 of the law. 133 of 24. Feb, 2009, section 10 of law no. 392 of 25. May 2009, section 11 of law no. 516 of 12. June 2009 and section 6 of the law. 1273 of 16. In December 2009, the following changes are made :

1. I Section 14, paragraph 14. 1, is "§ § 21-24" to : "§ § 24-27".

2. § 21 a ITREAS :

" § 21 a. A pension fund must have effective forms of enterprise management, including

1) a clear organizational structure with a well-defined, transparent and consistent distribution of responsibilities ;

2) a good administrative and accounting practice ;

3) written business practices for all major areas of activity,

4) effective procedures for identifying, managing, monitoring and reporting on the risks to which the pension fund is or may be exposed ;

5) the resources necessary for the proper implementation of its activities and the appropriate use of these ;

6) procedures for the separation of functions in connection with handling and prevention of conflicts of interest ;

7) adequate internal control procedures and

8) reassuring control and security measures in the IT area.

Paragraph 2. The SEC may lay down detailed rules on the measures to be taken by a pension fund in order to have effective forms of enterprise management, cf. paragraph 1. "

3. § 23 a ITREAS :

" § 23 a. Board members or directors shall have adequate experience to exercise the profession or the position of members of the Board of Directors and of the Pension Fund respectively.

Paragraph 2. The requirement of paragraph 1. 1 may be deviated if the pension fund documents to have an adviser with sufficient professional qualifications and experience.

Paragraph 3. A member of the Management Board or the Executive Board shall fulfil the following :

1) may not be charged or imposed on impunity for infringement of the penal code, the financial legislation or other relevant legislation where the offence involves the risk that he may or may not be responsible for his or her position on the matter ; That's comforting.

2) Do not have notified payees, have filed for forced use, bankruptcy or debt relief, or be in the case of payment, in the process of insolvency proceedings, debt relief or obsessive-compulsive recussion.

3) Do not have shown or show a behaviour in which there is reason to assume that they will not be responsible for the profession or the position in a responsible manner. When assessing whether a member of the Management Board or the Governing Board has shown or has exhiulted inequipting behaviour, the emphasis must be placed on the consideration of the need to maintain confidence in the financial sector.

Paragraph 4. Members of the Management Board or the Governing Board of a pensioner shall provide the Financial supervision of information relating to the facts referred to in paragraph 1. 3 for their entry into the management of the pension and, where the circumstances are subsequently changed. '

4. Insert after section 24 :

" § 24 a. The management board of a pension fund shall :

1) determine the main types of activities for the pension fund ;

2) identify and quantify the essential risks of the pension box and determine its risk profile, including the fixing of which and where large the risks to the pension fund must be taken ; and

3) establish policies for the operation of each of the pension funds ' s essential activities and the risks associated with it, taking into account the interaction between these two.

Paragraph 2. On the basis of the established risk profile and the policies laid down, the Management Board shall provide the Director with written guidelines, which shall, at the very least, contain :

1) verifiable frames for which and the risks to which the director may impose the pension fund,

2) the principles for the specification of individual risk types,

3) rules governing the arrangements for the management of the Management Board and which the Director may carry out as part of its position ; and

4) rules on how and to what extent the Director shall report to the management board on the risks of pension funds, including the use of the framework of the guidelines for the Director and of compliance with the limits laid down by the legislation ; on the risks to which the pension fund must take on.

Paragraph 3. The Management Board shall regularly decide on the risk-profile and policies of the pension and the guidelines for the Director in relation to the activities, organisation and resources of the pension fund, including capital and liquidity, as well as those responsible for the management of the pension ; market conditions operating under the activities of the pension age.

Paragraph 4. The Management Board shall regularly assess whether or not the Director shall carry out its tasks in accordance with the established risk profile, the policies laid down and the guidelines for the Director. The Management Board shall take appropriate measures if this is not the case.

Paragraph 5. The financial supervision may lay down detailed rules concerning the obligations of the governing board of a pension fund pursuant to paragraph 1. ONE-FOUR. "

5. I § 27, paragraph. 3, The words ' may ' shall be replaced by '.

6. I § 27 pasted as paragraph FOUR :

" Stop. 4. The SEC shall lay down detailed rules on the content of the Rules of Procedure.

7. I § 57, paragraph. FIVE, ONE. pkt., is "§ § 123 and 124 in the law of limited liability companies" to : section 221, 223 and 224 in the company law `.

8. § 66 d ITREAS :

" § 66 d. In cases where a pension fund has been declared bankrupt, the bulk of the operation of the pension fund has been discharged or transferred, or where the pensioner ' s population of pensionable tales has been taken in administration, the Finance Board shall prepare a statement for the reasons for this, if the State, during or during a shorter period prior to that, has provided a guarantee or made available to the pension fund, its creditors, or the transferee of whole or part of the pension fund.

Paragraph 2. The financial supervision shall publish the statement in accordance with paragraph 1. 1. In the case of the publication, Section 66 shall not apply, unless the information relates to customer relations or third parties who are or have been involved in the attempt to save the pension fund in question.

Paragraph 3. The decision to be taken pursuant to paragraph 1 1 shall describe the role of the financial services in the course of the business up to the bankruptcy and the '. `

9. I Paragraph 71, paragraph 1. 1, inserted after "§ 24," : " § 24 a, paragraph. 1-4, "and after" section 26, " is inserted : section 27 (4). 3, ".

§ 9

In the law on preventive measures against the laundering of the yield and financing of terrorism, cf. Law Order no. 806 of 6. In August 2009, the following changes are made :

1. I Section 1 (1). 1, no. 9, the ' no. 1 8, 11 and 12 " to : 1-8 and 10-12. "

2. I Section 32 (1). ONE, ONE. pkt., inserted after "complies with this law" : ",".

3. I § 34, paragraph. 5, is "or" to : ",".

4. § 39 revoked.

§ 10

In the Act of the Labor Market's Supplementary Pension, cf. Law Order no. 942 of 2. In October 2009, as amended by law no. 117 of 17. In February 2009, Section 1 of Law No 1263 of 16. In December 2009 and Section 16 of Law No 429 of 28. In April 2010, the following changes are made :

1. Section 23, paragraph 1. 6, revoked.

Paragraph 7 will then be paragraph 1. 6.

2. I § 23 pasted as paragraph 7-12 :

" Stop. 7. The Management Board shall

1) identify and quantify the essential risks and establish a risk profile, including the fixing and the risks to which the occupational pension for the occupational pension is to be taken ; and

2) establish policies on how the occupational pension for the occupational pension must be the control of each of the essential activities of the working market and the risks associated with it, taking into account the interaction between these.

Paragraph 8. On the basis of the established risk profile and the policies laid down, the Management Board shall provide the Director with written guidelines, which shall, at the very least, contain :

1) verifiable frames for which and the risks to which the Director may carry out the occupational pensions of the labour market,

2) the principles for the specification of individual risk types,

3) rules governing the arrangements for the management of the Management Board and which the Director may carry out as part of its position ; and

4) rules on how and to what extent the Director shall report to the Management Board on the occupational occupational risks, including the use of the framework in the Guidelines for the Director and of compliance with the limits laid down in legislation relating to the risks to which the occupational pension for the labour market must take on.

Niner. 9. The Management Board shall regularly adopt a position on the risk-profile and policies and the guidelines of the Director in relation to the occupational pension activities, organisation and resources of the labour market, including capital and liquidity, as well as the management of the Director ; market conditions operated under.

Paragraph 10. The Management Board shall regularly assess whether or not the Director shall carry out its tasks in accordance with the established risk profile, the policies laid down and the guidelines for the Director. The Management Board shall take appropriate measures if this is not the case.

Paragraph 11. The board will hire the Director and other senior staff. General requirements and instructions sent to members and their employers shall be approved by the Administrative Board.

Nock. 12. In accordance with the Employment Minister, the Financial Affairs Committee shall lay down detailed rules on the obligations of the Management Board ' s Supplementary Pension (s) pursuant to paragraph 1. 7-10. "

3. § 23 a ITREAS :

" § 23 a. A member of the Management Board or the Director of the Labor Market ' s Supplementary Pension Board shall have adequate experience of exercising his or his duties.

Paragraph 2. A member of the Management Board or the Director shall fulfil the following :

1) May not be subject to impunity or liability for infringement of this law, the penal code, financial legislation or other relevant legislation where there is a risk that they may not carry out his duties or his / her duties ; position in a reassuring manner.

2) Do not have notified payees, have filed for forced use, bankruptcy or debt relief, or be in the case of payment, in the process of insolvency proceedings, debt relief or obsessive-compulsive recussion.

3) In view of its economic situation or through a company which they own, participate in the operation of, or having a significant influence, the occupational loss or risk of loss of the occupational occupational market or risk.

4) Do not have shown or show a behaviour in which there is reason to assume that they will not be responsible for the profession or the position in a responsible manner. When assessing whether a member of the Management Board or the Governing Board has shown or has exhiulted inequipting behaviour, the emphasis must be placed on the consideration of the need to maintain confidence in the financial sector.

Paragraph 3. Members of the Management Board or the Director shall notify the Financial supervision of information on matters referred to in paragraph 1. 2 for their accession, and if the conditions are subsequently changed. '

4. § 23 b ITREAS :

" § 23 b. The occupational pensions market must have effective forms of corporate governance, including

1) a clear organizational structure with a well-defined, transparent and consistent distribution of responsibilities ;

2) a good administrative and accounting practice ;

3) written business practices for all major areas of activity,

4) effective procedures for identifying, managing, monitoring and reporting on the risks to which the occupational pension for the labor market is or may be subjected ;

5) the resources necessary for the proper execution of the occupational pension activities of the labour market under this law, and the appropriate use of these ;

6) procedures for the separation of functions in connection with handling and prevention of conflicts of interest ;

7) adequate internal control procedures and

8) reassuring control and security measures in the IT area.

Paragraph 2. In accordance with the Employment Minister, the Financial Affairs Council shall lay down detailed rules on the measures to be taken by the occupational pension by the unemployment market in order to have effective forms of enterprise management, cf. paragraph 1. "

5. I § 27, paragraph. 1, in section 23, paragraph 1 shall be amended. 6 ` shall be : section 23 (4) ; 7-10 ", and section 23 b," is replaced by : ". 23 b, paragraph. 1, SECTION. "

6. I § 27, paragraph. 3, the following provisions shall be inserted after ' provisions of this law ` : `, except in section 23 b (b), 1, no. 5. If the Financial supervision considers that the requirement in section 23 b (b) is found. 1, no. 5 have not been complied with, the financial supervision of the Financial Supplementary Pension Board shall be reported by the Financial Supplementary Pension (s) to the Employment Minister. '

7. I Section 32 (a) (a) ONE, TWO. pkt., the following shall be inserted after ' the Extremation of the provisions of ' : section 23 (4). 7-10, "

§ 11

In accordance with the Law on the Animal Lens Fund, cf. Law Order no. 1156 of 3. October 2007, as amended by Section 8 of Law No 515 of 17. June 2008, section 8 of law no. 517 of 17. June 2008, section 12 of law no. 392 of 25. May 2009 and section 2 of the Law No 1263 of 16. In December 2009, the following changes are made :

1. § 4 a ITREAS :

" § 4 a. A member of the Management Board or the Director of the Lians ' s Fund must have adequate experience to exercise his or his job in the Fund.

Paragraph 2. A member of the Management Board or the Director shall fulfil the following :

1) May not be subject to impunity or liability for infringement of this law, the penal code, financial legislation or other relevant legislation where there is a risk that they may not carry out his duties or his / her duties ; position in a reassuring manner.

2) Do not have notified payees, have filed for forced use, bankruptcy or debt relief, or be in the case of payment, in the process of insolvency proceedings, debt relief or obsessive-compulsive recussion.

3) Not because of its financial situation or through a company which they own, participate in the operation of or having a significant influence, have been inflict or inflict on the farmers ' s Animal Health at risk of loss or loss.

4) Do not have shown or show a behaviour in which there is reason to assume that they will not be responsible for the profession or the position in a responsible manner. When assessing whether a member of the Management Board or the Governing Board has shown or has exhiulted inequipting behaviour, the emphasis must be placed on the consideration of the need to maintain confidence in the financial sector.

Paragraph 3. Members of the Management Board or the Director shall notify the Financial supervision of information on matters referred to in paragraph 1. 2 in connection with their accession, and if the circumstances are subsequently changed. '

2. § 4 b ITREAS :

" § 4 b. The management of the Fund for the Fund for the Fund shall be :

1) identify and quantify the main risks of the Fund and determine the risk profile of the fund, including the fixing and the risks to which the Fund may take ; and

2) establish policies for the control of each of the Fund ' s essential activities and the risks associated with it, taking into account the interaction between these two activities.

Paragraph 2. On the basis of the established risk profile and the policies laid down, the Management Board shall provide the Director with written guidelines, which shall, at the very least, contain :

1) verifiable frames for which and the risks to which the Director may carry out the fund,

2) the principles for the specification of individual risk types,

3) rules governing the arrangements for the management of the Management Board and which the Director may carry out as part of its position ; and

4) rules on how and to what extent the Director shall report to the Management Board on the Fund ' s risks, including the use of the framework of the guidelines for the Director and of compliance with the limits laid down in legislation relating to them ; risks to which the Animal Fund of the Lønsuers Fund must take on.

Paragraph 3. The Management Board shall regularly decide whether the risk profile and policies of the fund and the guidelines for the Director are secular in relation to the fund's activities, organisation and resources, including capital and liquidity, as well as market conditions ; the activities of the Fund shall be operated.

Paragraph 4. The Management Board shall regularly assess whether or not the Director shall carry out its tasks in accordance with the established risk profile, the policies laid down and the guidelines for the Director. The Management Board shall take appropriate measures if this is not the case.

Paragraph 5. In accordance with the Employment Minister, the Financial Affairs Committee shall lay down detailed rules on the obligations of the Management Board of the Fund for the Fund for the Fund in accordance with paragraph 1. ONE-FOUR. "

3. § 4 c ITREAS :

" § 4 c. The Animal Control Fund should have effective forms of corporate governance, including

1) a clear organizational structure with a well-defined, transparent and consistent distribution of responsibilities ;

2) a good administrative and accounting practice ;

3) written business practices for all major areas of activity,

4) effective procedures for identifying, managing, monitoring and reporting on the risks to which the fund is or may be exposed ;

5) the resources necessary for the proper implementation of the Fund ' s activities, and the appropriate use of these ;

6) procedures for the separation of functions in connection with handling and prevention of conflicts of interest ;

7) adequate internal control procedures and

8) reassuring control and security measures in the IT area.

Paragraph 2. In accordance with the Employment Minister, the Financial Affairs Council shall determine, in accordance with the Employment Minister, the measures to be taken in order to have effective forms of enterprise management in accordance with the Employment Minister. paragraph 1. "

4. I ~ 10 (1)) 3, the following provisions shall be inserted after ' provisions of this law ` : `, except in section 4 c (1) ; 1, no. 5. If the Financial supervision considers that the requirement in section 4 c (c) (c) is found 1, no. 5 have not been complied with, the Financial Authority shall report this to the Employment Minister ' s Fund for the Employment of the Lønsuites Fund.

5. I § 14 (1) (a) ONE, TWO. pkt., in the following : ". 4 c (c), paragraph 1, no. One-four ' to : " § 4 b, paragraph 4. 1-4, section 4 (c) 1 '.

§ 12

In the Law on Work Protection, cf. Law Order no. 848 of 7. September 2009, as amended by Section 3 of Act 3. 1272 of 16. In December 2009, the following changes are made :

1. § 62 ITREAS :

" § 62. A member of the Management Board or the Director of the Occupational Health Safety Board shall have complete experience of his or his or his duties in his post.

Paragraph 2. A member of the Management Board or the Director shall fulfil the following :

1) May not be subject to impunity or liability for infringement of this law, the penal code, financial legislation or other relevant legislation where there is a risk that they may not carry out his duties or his / her duties ; position in a reassuring manner.

2) Do not have notified payees, have filed for forced use, bankruptcy or debt relief, or be in the case of payment, in the process of insolvency proceedings, debt relief or obsessive-compulsive recussion.

3) In view of its economic situation or through a company which they own, participate in the operation of, or having a significant influence, the Occupational hazard and loss or loss of the occupational disease of the Occupational Health and Health Safety of the Occupational Health and Health Safety.

4) Do not have shown or show a behaviour in which there is reason to assume that they will not be responsible for the profession or the position in a responsible manner. When assessing whether a member of the Management Board or the Governing Board has shown or has exhiulted inequipting behaviour, the emphasis must be placed on the consideration of the need to maintain confidence in the financial sector.

Paragraph 3. Members of the Management Board or the Director shall notify the Financial supervision of information on matters referred to in paragraph 1. 2 in connection with their accession, and if the circumstances are subsequently changed. '

§ 13

Law no. 467 of 17. In June 2008 for the Faroe Islands on information to be sent on the payment of transfers of money, the following changes are made :

1. I § 2 ' within the Faroe Islands or between the Faroe Islands and Denmark ' to : 'within the Faroes'.

2. I § 2 pasted as paragraph 2 :

" Stop. 2. The exceptions in paragraph 1. Paragraph 1 shall apply mutatis muctis to transfers between the Faroe Islands and Denmark and between the Faroe Islands and Greenland. `

3. I Section 3, paragraph 3. 1, no. 2, ' within the Faroe Islands or between the Faroe Islands and Denmark ' to : 'within the Faroes'.

4. I § 3 inserted after paragraph 1. 1 as new paragraph :

" Stop. 2. The exceptions in paragraph 1. Paragraph 1 shall apply mutatis muctis to transfers between the Faroe Islands and Denmark and between the Faroe Islands and Greenland. `

Paragraph 2 is then referred to in paragraph 2. 3.

5. I § 4, no. 4, is changed ' in the Faroe Islands and in Denmark, or ' to the Faroe Islands '.

6. I § 4 is inserted after no 4 as new number :

" 5) to the public authorities for the payment of taxes, fines or other charges in Denmark or in Greenland, or '

Number 5 becomes the second paragraph. 6.

7. § 6 ITREAS :

" § 6. For the purposes of this law, the laundering of this law shall mean the laundering as defined in Section 4 of the Act on Preventive Action against the laundering of the proceeds and the financing of terrorism. `

8. The title before section 10 is replaced by the following :

' Cash transfers within the Faroe Islands, between the Faroes and Denmark and between the Faroe Islands and between the Faroe Islands and Greenland

9. I ~ 10 (1)) 1, is replaced by the Faroe Islands or in Denmark ' s : `.

10. I § 10 inserted after paragraph 1. 1 as new paragraph :

" Stop. 2. The derogation in paragraph 1 shall be 1 shall apply mutatis mums, where both the payment appropriations of both the paying and the beneficiary are located in the Faroe Islands, in Denmark or in Greenland. ` ;

Paragraph 2 is then referred to in paragraph 2. 3.

11. I Section 11 (1). 1, ' outside the Faroe Islands and Denmark ` shall be replaced by ' outside the Faroe Islands ` ;

12. I Section 11 (1). 2, ' outside the Faroe Islands and Denmark ` shall be replaced by ' outside the Faroe Islands ` ;

13. I § 11 pasted as paragraph 3 :

" Stop. 3. The payment assets of the recipient in Denmark or in Greenland shall apply to the same rules as if the means of payment of the payment were in the Faroe Islands. `

14. § 12 ITREAS :

" § 12. The payment appropriations of the recipient shall be obliged to establish whether the information relating to the payment in the information or payment and settlement system used for a transfer of funds has been completed with the characters or inputs that are available ; authorized by the rules of the system in question. Recipient means of payment shall have effective procedures to determine whether the following information is missing :

1) Where payment of payment of payment by payment is located on the Faroe Islands, the information required by section 10 is the information required.

2) In the case of wire transfers, where payment appropriations are located outside the Faroe Islands, the complete information on the payment after ~ 8 or, if applicable, the information required by section 17.

3) For batch file transfers, where the payment appropriations of payment are outside the Faroe Faeroe, the full information on the payment after ~ 8, however only in the batch file transfer, and not the individual transfers collected herein.

4) No matter No. 2 and 3 in the case of wire transfers and batch file transfers, where paying agents are in Denmark or in Greenland alone, the information required by section 10 `.

15. § 17, paragraph 1. 1, ITREAS :

" Stop. 3-6 shall apply where the payment appropriations of the payment are outside the Faroe Islands and intermediate payment intermediary the Faroe Islands. `

16. I § 17 inserted after paragraph 1. 1 as new paragraph :

" Stop. 2. However, paragraph 3-6 shall not apply where the payment appropriations of the payment are situated in Denmark or Greenland and the intermediary of intermediary payments in the Faroe Islands. `

Paragraph 2-5 shall then be referred to in paragraph 2. 3-6.

17. I § 17, paragraph 1. 5, there will be paragraph 1. 6, shall be amended ' paragraph 1. 2 and 3 ' shall be replaced by the following : 3 and 4. "

18. I Section 20 (2). 1, in section 10, paragraph 1 shall be amended. Two, "to :". 10, paragraph. 3, ", and section 17 (4). 3-5, ` shall be replaced by '. 17, paragraph 1. 4-6, "

19. § 21 ITREAS :

" § 21. The law shall enter into force on the 15th. June, 2010, cf. however, paragraph 1 2.

Paragraph 2. The Economic and Economic Affairs Minister shall determine the time of entry into force of section 2 (2). 2, section 3, section 2, section 4, no. 5, section 10, section. 2, section 11, paragraph 1. 3, section 12, no. 4, and section 17 (3). TWO. "

§ 14

Law no. 516 of 12. June 2009 amending the annual accounting law, law on financial activities and various other laws. (Changes as a result of company law), as amended by Section 3 of Law No 1273 of 16. In December 2009, Section 15, Law No 1278 of 16. In December 2009 and section 2 of the Law No 159 of 16. In February 2010, the following changes are made :

1. § 8, nr. 10, 31 and 43, and § 11, no. 20, revoked.

§ 15

In the Act of a Guarantee Fund for depositors and investors, cf. Law Order no. 794 of 20. In August 2009, as amended by Section 1 of Act 1. 338 of 1. May 2009 and section 8 of the law. 1273 of 16. In December 2009, the following changes are made :

1. Section 9 (1). 3, ITREAS :

" Stop. 3. This fund covers the full purchase of a property to immovable property, which has been deposited in accordance with prior purchase agreement, and deposits of deposits with mortgaged mortgages financed by mortgage bonds, in particular, covered real-estate credit bonds or in particular covered bonds up to nine months from the insertion of the amount, however, in the course of a new construction until 2 years. However, the coverage of the Fund shall be deductible from obligations relating to the borrowing or property trade, and any obligations not offset by the institution in question pursuant to paragraph 1. 1. It is a prerequisite that the immovable property has been used mainly for non-business 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 on the mortgage. real estate financed by mortgage bonds, in particular covered mortgage bonds, or in particular covered debt securities. ` ;

§ 16

Law no. 116 of 7. April 1936 on Denmark's National Bank, as amended by law no. 166 of 13. April 1938, section 44 of Law No 88 of 15. "March 1939, promise no." 67 of 15. March 1967 and Section 90 of Law No 174 of 30. In April 1969, the following changes are made :

1. After the section 14 and before the heading ' Other Enterprise ' s other ' s heading ', the following :

" § 14 a. The Bank shall collect, work and publish statistical information within its field of competence and may use such information when necessary for the performance of its tasks, cf. § 1.

Paragraph 2. The Bank may request the following legal and natural persons within a period of time to communicate to the particulars specified in the case of the Bank and which are necessary for the execution of the information provided for in paragraph 1. 1 tasks referred to above :

1) Legal and natural persons who are based in Denmark and who are engaged in financial activities under the law of financial activities or other financial legislation.

2) Legal and natural persons having their headquarters in Denmark, which have economic intermediends abroad.

3) Legal and physical persons having a registered office in Denmark which has issued or ownership securities or trade in or clearing and settlement of financial products.

4) Filials el.lign. in Denmark, which are not regarded as legal or natural persons, but which are also subject to the definitions referred to in paragraph 1. 1-3.

Paragraph 3. Penal penalties shall be punished by the persons, etc., as referred to in paragraph 1. 2, failing in good time to communicate to the information requested by the Bank, or intentionally or by gross negligence, the information is inaccurate or dissenting. Companies can be imposed on companies, etc. (legal persons) punishable by the rules of the penal code 5. Chapter.

Paragraph 4. The Bank may disclose confidential statistical information, to the extent and with the level of detail required for the execution of the tasks of the person concerned to :

1) The European System of Central Banks.

2) European Systemic Risk Board.

Paragraph 5. Information that may be disclosed in accordance with paragraph 1. 4, is information at the level of information that makes it possible directly or indirectly to identify the information referred to in paragraph 1. 2 mentioned persons etc. ` ;

§ 17

In the Act of Denmark's Statistics, cf. Law Order no. 599 of 22. June 2000, as amended by Section 81 of law no. 431 of 6. June 2005, section 155 of Law No 1336 of 19. In December 2008 and Section 1 of the Law No 1272 of 16. In December 2009, the following changes are made :

1. Section 3, paragraph 3. 3, revoked.

Paragraph 4-7 shall then be referred to in paragraph 1. 3-6.

§ 18

In the trade mark, cf. Law Order no. 90 of 28. In January 2009, the following changes are made :

1. § 42, paragraph. 1, ITREAS :

" The penalty shall be penalised by penalty of inadvertently or negligent or aggravated violating a trademark of the registration, by use or under the Council Regulation on Community trade marks. ` ;

§ 19

In the design rule, cf. Law Order no. 89 of 28. In January 2009, the following changes are made :

1. § 36, paragraph. 1, ITREAS :

" The penalty shall be punished for intentional or gross negligent interference in a design procedure. This also applies to the procedure in design rights established in accordance with the Council Regulation on EC design. ` ;

§ 20

In the patent law, cf. Law Order no. 91 of 28. In January 2009, the following changes are made :

1. § 77, paragraph. 1, no. 2, ITREAS :

" 2) in English or translated into English, however, the patent requirements shall be provided for only in Danish. ` ;

§ 21

Paragraph 1. The law shall enter into force on 1. July, 2010, cf. however, paragraph 1 2-6.

Paragraph 2. § 1, no. 5, 26, 27, 51, 60, 62-64 and 85, section 5, nr. 1, 3-7 and 9, and Section 9 shall enter into force on 1. June 2010.

Paragraph 3. Section 13 shall enter into force on the 15th. June 2010.

Paragraph 4. § 1, no. 12, 14 and 15, section 6, number Two, four, five and eight, eight, number eight, number eight. 1, 2, 4-6 and 9, section 10, nr. 1, 2, and 4 to 7, and section 11, no. 2-5, enter into force on 1. January, 2011.

Paragraph 5. § 1, no. 79, enter into force on 1. January, 2011.

Paragraph 6. The Economic and Economic Affairs Minister shall determine the date of entry into force of section 1 (2). 6, 19 and 61, section 3, no. 3 and 4, section 8, nr. 7, and section 14 (a) (a), 4, no. Amendment No 2, in the Act of Denmark's National Bank, as drawn up by this law's section 16, no. 1.

Paragraph 7. During the period from 1. July 2010 to the 31. In December 2010, this applies instead of the limit in Article 145 (3). 2, in the Act of financial undertaking, as drawn up by its law's section 1, no. 53, the sum of the exposures which are to be paid for in particular the requirements of certain requirements constituting 10%. or more of the base capitale, not collectively to exceed 800%. of the base capitale.

§ 22

Paragraph 1. sections 1-12 and 14-20 do not apply to the Faeroe Islands and Greenland, cf. however, paragraph 1 Two and three.

Paragraph 2. sections 1 to 9, 12 and 14 to 20 may, in the case of Greenland, be implemented in full or in part to Greenland, with the deviations from which Greenland's conditions are applied.

Paragraph 3. sections 1, 3 to 6, 9 and 14 to 20 may, by means of a royal contraption, be fully or partially set in force for the Faeroe Islands, with the deviations that the ferotable conditions say.

1) The law provides for the implementation of parts of Directive 2009 /111/EC of the European Parliament and of the Council of 16. September 2009 amending Directives 2 0 0 6 /4 8 / EC, 2006 /49/EC and 2007 /64/EC with respect to banks connected to central bodies, certain components of own funds, large exposures, supervisory arrangements and crisis management (CRD II). I'm 111, s. 97%.