Act On The Conversion Of The German Settlement And Country Pension Bank Into A Corporation

Original Language Title: Act on the conversion of the German settlement and country Rentenbank into a corporation

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Act concerning the conversion of the Deutsche Siedlungs-und Landesrentenbank into a joint-stock company (DSL Bank-Conversion Act-DSLBUmwG)

Non-official table of contents


Date of delivery: 16.12.1999

Full quote:

" DSL Bank-Conversion Act of 16. December 1999 (BGBl. 2441), which was last amended by Article 176 of the Regulation of 31 December 2008. October 2006 (BGBl. I p. 2407) "

:Last modified by Art. 176 V v. 31.10.2006 I 2407

See Notes


(+ + + Text evidence: 23.12.1999 + + +)

for more details on the stand. name="BJNR244100999BJNE000100310 " />Non-official table of contents

§ 1 Establishment by conversion

(1) Deutsche Siedlungs-und Landesrentenbank, Bundesimmediate Anstalt des public law, is at the end of the 31. It was converted into a public limited company in December 1999. The provisions of the Transformation Act shall not apply.(2) The joint-stock company leads the company "DSL Bank Aktiengesellschaft". The company can be changed by a change in the sentence.(3) The Management Board shall immediately notify the Aktiengesellschaft and its branches for registration in the Commercial Register. The notification shall indicate the representative powers of the Management Board members. The registration shall be accompanied by the articles of association and the documents relating to the appointment of the Executive Board in certified copy. The members of the Board of Management have to draw their name signature for storage at the court.(4) The Company is to be entered in the Commercial Register by reference to this Act. Section 39 of the German Stock Corporation Act shall apply. Non-official table of contents

§ 2 Effects of the conversion for the shareholders

The shareholders of the Deutsche Siedlungs and Landesrentenbank take over the share capital of the stock company in the amount of 113,750,000 Deutsche Mark, which is divided into 56,875,000 no-par shares. The following number of shares shall be added to the shareholders:
Federal Republic of Germany: 56.340.575
Country Berlin: 356.283
Free State of Bavaria: 178.141.
Remote of the Federal Republic of Germany and the Free State of Bavaria a share in the Community of Bruchteilsgemeinschaft in each case half. Non-official table of contents

§ 3 Statutes

The statutes of the corporation are established in the appendix to this law. It may be amended in accordance with the Stock Corporation Act. Non-official table of contents

§ 4 Board of Directors

(1) The members of the Management Board of the Deutsche Siedlungs and Landesrentenbank shall apply until the end of the term of office. for which they are called, as appointed within the meaning of Section 84 of the German Stock Corporation Act. Your dismise in accordance with Section 84 (3) of the German Stock Corporation Act is admissible.(2) Until the registration in the Commercial Register, the members of the Management Board shall be subject to the previous evidence of the power of representation. Non-official table of contents

§ 5 Supervisory Board

(1) Members of the first Supervisory Board of the Aktiengesellschaft are the members of the Management Board the Deutsche Siedlungs-und Landesrentenbank. Your term of office shall end with the election of the Supervisory Board by the General Meeting to be convened in accordance with § 6.(2) § § 95 to 104 with the exception of § 103 (3) sentence 1, 2 and 4 of the Stock Corporation Act as well as § 76 of the Works Constitution Act 1952 shall not apply to the first Supervisory Board. Non-official table of contents

§ 6 First Annual General Meeting

The Management Board shall convene the first Annual General Meeting at the latest by 31 December 2008. March 2000. This Annual General Meeting elects ten members of the Supervisory Board. Ten other members of the Supervisory Board are elected by the employees in accordance with the provisions of the Codetermination Act. Non-official table of contents

§ 7 Issue of covered bonds

(1) The stock corporation may cover covered bonds up to Fifteen times the equity capital in each case, in accordance with the following paragraphs.(2) The total amount of covered bonds issued and in circulation by the public limited liability company shall be covered at all times in the amount of the nominal value and interest. As a cover, proper cover values are admissible according to the Pfandbrief Act, loan receivings, for which secure basic rights of property exist, as well as mortgage Pfandbriefe and public Pfandbriefe according to the Pfandbrief Act.(3) The ordinary cover required in paragraph 2 may be replaced by credit with the Deutsche Bundesbank and with appropriate credit institutions (replacement cover). The replacement cover shall not exceed ten per cent of the total circulation of covered bonds of the public limited liability company.(4) The assets determined to cover the debt securities, including the replacement cover, shall be entered individually by the joint-stock company in a register. § 5 (1) and (2) of the Pfandbrief Act shall apply accordingly.(5) The Federal Supervisory Office for the credit sector shall appoint no later than 31. March 2000 a trustee and a deputy. The trustee must ensure that the issuing, management and cover of the debt securities comply with the statutory and statutory provisions and the conditions of borrowing. § 7 (3) and (4) and § § 8 to 11 of the Pfandbrief Act shall apply accordingly. The trustee of the Deutsche Siedlungs-und Landesrentenbank shall carry out its duties until the new trustee takes up office. § 22 of the Articles of Association of the Deutsche Siedlungs-und Landesrentenbank in the version in force before the conversion is to continue to apply.(6) § 248 (2) sentence 2 of the Civil Code shall also apply where other credit institutions grant loans from the proceeds of the covered bonds issued by the public limited liability company. Non-official table of contents

§ 8 Forced enforcement and insolvency

(1) Arrests and foreclosures in the cover register pursuant to § 7 Section 4 of the Pfandbrief Act shall apply mutas to the provisions of Section 29 of the Pfandbrief Act(2) In the event of the opening of the insolvency proceedings, § § 30 to 37 of the Pfandbrief Act shall be applied accordingly. Non-official table of contents

§ 9 Asset Safety, Opacity

(1) As far as companies are subject to currency-safe values by law or by statute. , covered bonds of the public limited-liability company, which are not denominated in foreign currency, shall be equal to those values.(2) The covered debt securities of the Aktiengesellschaft are congruent to the extent that companies can form a cover mass in mortgage Pfandbriefe or Public Pfandbriefe in accordance with the Pfandbrief Act in accordance with the law or the articles of association. Non-official table of contents

§ 10 Transitional rules for bonds and transactions of Deutsche Siedlungs-und Landesrentenbank as well as its Loans

(1) Pfandbriefe issued by Deutsche Siedlungs and Landesrentenbank, local bonds, bank notes, subordinated liabilities and other debt securities shall be deemed to have been converted from the A joint stock company. The public limited liability company is subject to the banking regulations applicable to public law credit institutions in respect of the transactions concluded by the Deutsche Siedlungs-und Landesrentenbank (German settlement and Landesrentenbank).(2) The loans granted to the Deutsche Siedlungs-und Landesrentenbank as well as the warranties assumed by it shall also apply after the conversion as a loan to a domestic institution governed by public law and as warranties of such a Institution.(3) The previous coverage registers of the Deutsche Siedlungs-und Landesrentenbank remain in the form of separate coverage registers after the conversion, in addition to the cover register in accordance with § 7 para. 4. The duties of the trustee pursuant to § 7 (5) sentence 5 shall apply to these cover registers.(4) The cover values registered up to the conversion into the cover registers may continue to be refinanced without taking into account the upper limit in accordance with § 7 (1) by covered bonds. Non-official table of contents

§ 11 Liability of the Federal Government for legacy liabilities

The Federal Government is liable for the fulfilment of the liabilities of the Germans. Settlement and Landesrentenbank, insofar as these have been established before the registration of the public limited company in the commercial register. The creditors of the Aktiengesellschaft can only take advantage of the Federal Government, in so far as they cannot be satisfied from the assets of the Aktiengesellschaft. Unofficial Table Of Contents

§ 12 Regulations for Organizational Interests and Other Transitional Rules

(1) The tasks of the Works council in the companies and operating parts of the joint-stock company takes the present Staff Council in a transitional manner. The transitional mandate shall end as soon as a works council has been elected and the election result is announced, but no later than 30. June 2000. The above sentences are valid for the youth and trainees ' representatives and the disabled representatives of the Deutsche Siedlungs-und Landesrentenbank (Deutsche Siedlungs-und Landesrentenbank).(2) The participation procedures initiated before the conversion of the Deutsche Siedlungs-und Landesrentenbank (Deutsche Siedlungs-und Landesrentenbank) shall be subject to the provisions of the Federal Personalization Act (Bundespersonalrepresentation gesetz) until their conclusion. This also applies to procedures in front of the establishment and administrative courts. In the cases of sentences 1 and 2, in this procedure the employee representative body responsible under the German Works Constitution Act is replaced by the Staff Committee.(3) The service agreements existing in the Deutsche Siedlungs-und Landesrentenbank at the time of the conversion shall continue to apply in the joint-stock company as operating arrangements.(4) Enforcement measures initiated before the conversion of the Deutsche Siedlungs-und Landesrentenbank in the administrative forcification procedure shall be carried out in accordance with the law applicable before the conversion.(5) The annual accounts and consolidated financial statements for the 1999 financial year shall apply to the provisions applicable to the Deutsche Siedlungs-und Landesrentenbank prior to the conversion. Non-official table of contents

§ 13 Continuation of the grant and management of the assets.

(1) The stock corporation has replaced the German settlement and Landesrentenbank in the public order against adequate remuneration measures for structural improvement of rural areas, including rural settlement to improve infrastructure and environmental protection, as well as to promote the integration of the displaced persons, refugees and ethnic Germans from agriculture.(2) The Aktiengesellschaft also has the special assets of the Federal Government, which are existing with the Deutsche Siedlungs-und Landesrentenbank (German settlement and Landesrentenbank), which are due to § 3 of the Third Section of the Regulation of the President of the Reich in order to remedy financial, economic and social emergencies of 26. July 1930, as well as on the basis of Section 5 of Part IV of Chapter II of the Third Ordinance of the President of the Reich to safeguard economic and financial affairs and to combat political riots of 6. October 1931, § 4 of the Law on the Promotion of the Agricultural Settlement of 15. Article 46 (2) of the Bundesvertriebenengesetz (Bundesvertriebenengesetz) (Bundesvertriebenengesetz) (Bundesvertriebenengesetz) (Bundesvertriebenengesetz) has been set up to administer, pursuant to Section 44 (2) of the Federal Budget Code, as an asset and to use it(3) The Federal Ministry of Food, Agriculture and Consumer Protection may, in agreement with the Federal Ministry of Finance, transfer tasks referred to in paragraphs 1 or 2 by means of a legal regulation of the Agricultural Pension Bank, as far as it is concerned The tasks of the federal government. Non-official table of contents

§ 14 merger of the public limited liability company

(1) In the event of merger of the joint-stock company, the application shall apply to the application § 67 of the Transformation Act the Aktiengesellschaft as of the 14. The European Parliament and the Council of 19 September 1989 entered the register of registered entities(2) If the joint-stock company is in the case of the merger of non-accepting entities, the provisions of § § 7 to 9 on the issuance of covered bonds as well as § § 10 and 13 on the acquiring legal entities shall be accordingly , Non-official table of contents

§ 15 Entry into force, expiry

(1) This law will enter into force on the day after the announcement.(2)