Law on the Agricultural Pensions Bank

Unofficial table of contents

LwRentBkG

Date of completion: 11.05.1949

Full quote:

" The Law on the Agricultural Pension Bank in the version of the Notice of 12 December 2013 (BGBl. I p. 4120) "

Status:

New by Bek. v. 12.12.2013 I 4120

For more details, please refer to the menu under Notes

Footnote

(+ + + Text proof applicable: 1.1.1987 + + +) 

  

On Rhld. -Pfalz, Wttbg. -Hohenzollern, Baden u. The Bavarian district of Lindau extends through § 1 Abs. 1 V v. 21.2.1950 p. 37 Unofficial table of contents

§ 1 Legal form, seat

(1) The Landwirtschaftliche Rentenbank, hereinafter referred to as the Bank, is a federal institution of public law. (2) The Bank has its headquarters in Frankfurt am Main. It does not maintain branches. Unofficial table of contents

§ 1a Liability of the Federal Government

The Federal Government shall be liable for the loans and bonds issued by the Bank, forward-denominated transactions, the rights arising from options and other loans to the Bank, as well as for loans to third parties, insofar as they are provided by the Bank. The Bank is expressly guaranteed. Unofficial table of contents

§ 2 Capital

(1) The Bank's capital stock is 135 million euros. (2) To strengthen its capital, it is a major reinvestment. This shall be allocated at least half of the annual surplus remaining after delivery to the cover (paragraph 3). (3) In addition to the main backlog (paragraph 2), a special cover shall be provided for; it shall be used to create additional financial reserves (paragraph 2). Collateral for the covered debt securities issued by the Bank. The cover reserve shall not exceed 5 per cent of the nominal value of the covered debt securities in circulation. You may not be assigned more than 50 per cent of the net profit. Unofficial table of contents

§ 3 Business tasks

(1) The Bank has the government mandate to promote agriculture and rural areas, taking into account the respective responsibilities of the Federal Government and the Länder. In order to fulfil its mandate, the Bank shall carry out promotional activities, in particular through financing operations, in the following areas, following the detailed definition of the Articles of Association:

1.

agriculture, including forestry, horticulture and fisheries, as well as upstream and downstream sectors,

2.

Disposal and storage of agricultural and food products, including the development and consolidation of markets in the Member States of the European Union and the other States Parties to the Agreement on the European Union Economic Area,

3.

agrarian environmental protection, promotion of renewable energy sources and renewable raw materials from agriculture, dissemination of organic farming, animal welfare in agriculture,

4.

Improving the infrastructure of rural areas,

5.

agricultural consumer protection.

The Federal Ministry of Food, Agriculture and Consumer Protection, in agreement with the Federal Ministry of Finance of the Bank, may implement support measures in the context of its public order against an appropriate fee. (2) In order to carry out its tasks, the Bank may use all the banking instruments available to it, in particular to grant loans, grants and other financial assistance, to provide guarantees and to enter into shareholdings. Loans are generally to be granted through or together with other credit institutions. In relation to other credit institutions, the Bank has to comply with the principle of Community non-discrimination. (3) The Bank may also, within the framework of its mandate in accordance with paragraph 1, after further provision of its statutes, local authorities and (4) The Bank may, after further provision of its statutes, grant other financing in the interest of German and European agriculture or of rural areas Grant rooms to the extent that they are projects in the Community interest, which are the European Investment Bank or similar European financial institutions. (5) In order to obtain the necessary funds, the Bank can borate loans, uncovered and covered debt securities, Take over the warranties and use all other financial instruments customary in the banking sector. Unofficial table of contents

§ 4 Other transactions

(1) The Bank may also operate all transactions and services directly related to the performance of its tasks. In this context, it may, in particular, buy and sell receivings and securities, as well as conduct business and measures to control and ensure their financial liquidity (treasury management) and all for risk management (2) The securities trading, the deposit business and payment services within the meaning of Article 1 (2) of the Payment Services Supervisory Act are only permitted for their own account and only in so far as they are satisfied with the performance of the Bank's of the public funding tasks directly related. Unofficial table of contents

§ 5 Institutions

(1) Institutions of the Bank shall be

1.

the Management Board,

2.

the Management Board,

3.

the AnstaltsAssembly.

(2) The tasks and powers of the institutions, insofar as they are not governed by the law, shall govern the statutes. Unofficial table of contents

§ 6 Executive Board

(1) The Management Board shall consist of at least two members. Members of the Management Board shall be appointed and dismissed by the Administrative Board by a majority of at least two-thirds of its members. The appointment requires the approval of the supervisory authority (Section 11 (1)). (2) The Management Board shall conduct the Bank's business, insofar as this task is not assigned by law or by statute to other institutions. (3) The Board of Management shall represent the Bank in a judicial manner. and out of court. The powers of representation of the Bank and the form for declarations of intent of the persons authorised to represent are governed by the statutes. If a declaration of intent is to be handed over to the Bank, the levy shall be sufficient to a member of the Board of Management. The Bank's representation vis-à-vis its institutions shall be subject to the rules applicable to public limited-liability companies. Unofficial table of contents

§ 7 Board of Directors

(1) The Administrative Board shall consist of:

1.

eight representatives of agricultural and food business organisations, of which six are appointed by the German Farmers ' Association (Deutscher Bauernverband e). V., one of the Deutsche Raiffeisenverband e. V. as well as a representative of the food industry (industry and trade) from the food-economic associations;

2.

three agricultural ministers of the Länder, appointed by the Federal Council for a period of time to be determined by the Federal Council, or their permanent representatives in the Office;

3.

a representative of the trade unions;

4.

the Federal Minister for Food, Agriculture and Consumer Protection; the representation at the meetings of the Administrative Board and its committees by a permanent representative in the Office or by a Head of Department is permitted;

5.

one representative of the Federal Ministry of Food, Agriculture and Consumer Protection as well as of the Federal Ministry of Finance; the Federal Ministries may also be represented by other persons involved in the matter;

6.

three representatives of credit institutions or other credit experts, who shall be consulted by the other members of the Administrative Board on a proposal from the Federal Government.

(2) The Chairman of the Management Board shall be appointed by the Board of Directors from the ranks of the German Farmers ' Association. V. appointed members. His deputy is the Federal Minister or the Federal Minister for Food, Agriculture and Consumer Protection. (3) Members of the National Assembly may not be members of the Board of Directors. (4) The Board of Directors shall monitor the Management of the Management Board and decides on the discharge of the Management Board; it may give general and special instructions to the Executive Board. (5) The Board of Directors decides on the annual financial statements, on the supply to the main backlog and on the Cover reserve as well as the distribution of the net profit on the support fund (§ 9 (2)) (6) The Board of Directors shall decide upon the Articles of Association and their amendments. They shall require the approval of the supervisory authority (Article 11 (1)). Unofficial table of contents

§ 8 AnstaltsConvention

(1) The AnstaltsAssembly is the representation of the owners and tenants of the land burdened with the pension bank's basic debt. (2) The AnstaltsAssembly consists of 28 members, two of which are from the federal states of Baden-Württemberg, Bavaria, Brandenburg, Hesse, Mecklenburg-Western Pomerania, Lower Saxony, North Rhine-Westphalia, Rhineland-Palatinate, Saxony, Saxony-Anhalt, Schleswig-Holstein and Thuringia, and one each of the countries Berlin, Bremen, Hamburg and Saarland are named. In the selection of the representatives, it is appropriate to take appropriate account of the individual size classes, in particular the family-owned farms. (3) The AnstaltsAssembly adopts the reports of the Board of Management on the Bank's business activities and the Board of Directors on the decisions it has taken and advises the Bank on issues relating to the promotion of agriculture and rural areas, as well as on general agricultural and business policy issues. It shall decide on the use of profits in accordance with § 9 (2). Unofficial table of contents

§ 9 Use of profit

(1) The balance sheet profit may only be used for the promotion of agriculture and rural areas in the general interest. (2) A maximum of half of the amount to be distributed shall be allocated to a support fund, through the latter (3) At least half of the amount to be distributed is intended to be used by the Federal Government in accordance with the Act on the Purpose of the Covenant in the case of the Federal Republic of Germany, the Federal Government of Germany, the Federal Republic of Germany, the Federal Republic of Germany, the Federal Republic of Germany Agricultural Rentenbank of 12 August 2005 (BGBl. I p. 2363) as long as the Bank is managed by the Bank and as long as the Bank is exempt from all taxes on wealth, income and business operations. Unofficial table of contents

§ 10 Special obligation of the institutions

The duty of care and responsibility of the members of the Management Board and of the Board of Directors shall be governed by the relevant provisions for members of the Management Board and Supervisory Board of the joint stock companies. Unofficial table of contents

§ 11 Supervision

(1) The Bank is subject to the supervision of the Federal Ministry of Food, Agriculture and Consumer Protection (supervisory authority), which makes its decisions in agreement with the Federal Ministry of Finance. The Supervisory Authority shall ensure that the Bank's business operations are in accordance with the public interest, in particular in the promotion of agriculture and rural areas, as well as with the laws and the statutes. (2) The Supervisory authority is empowered to request information from the institutions of the Bank on all business matters, to view books and publications of the Bank, and to attend meetings of the Board of Directors and its committees and at the meetings of the General Assembly. (3) shall be allowed to speak at any time to their representatives. (3) The Supervisory Authority shall also have the power to request the convening of meetings of the institutions and the announcement of objects for decision-making, as well as to prohibit the execution of orders and decisions against the public authorities. Interest in particular in the promotion of agriculture and rural areas, or in violation of the laws or the statutes. (4) In addition, the Bank is self-employed in the administration and management, and in the employment of the Personnel. Unofficial table of contents

§ 12 Service seals and public documents

The Bank shall be entitled to conduct a service seal. Section 39a of the Beurkundungsgesetz is to be applied accordingly. Declarations of the Bank duly signed and provided with the print of the official seal shall have the property of publicly certified documents. Unofficial table of contents

§ 13 Covered Debt Securities

(1) The Bank may issue covered bonds in accordance with paragraphs 2 to 4. (2) The total amount of debt securities issued by the Bank shall be covered at any time in the amount of the nominal value and interest. Coverage shall be permitted

1.

Pfandbriefe within the meaning of Section 1 (2) of the Pfandbrief Act, which are issued in accordance with the provisions of the Pfandbrief Act,

2.

Loans to domestic bodies and to such institutions under public law, for which a legal burden or a guarantee liability or a state refinancing guarantee is applicable or which is subject to the legal right to collect of charges and other charges, or of loans or other loans granted by the Bank to the full guarantee by such a body or institution, for which collateral is provided to meet the requirements of the Pfandbrief Act for the coverage of mortgage Pfandbriefe or Ship-to-ship letters

3.

The Bank's loans for which sufficient collateral exists on the basis of banking principles.

The ordinary cover required in the second sentence may be temporarily replaced by assets held by the Deutsche Bundesbank and by appropriate credit institutions (replacement cover). (3) The assets determined to cover the debt securities , including the replacement cover and assets at the level of the cover reserve pursuant to § 2 (3), shall be entered individually by the Bank in a register. According to § 5 (1) and (2) of the Pfandbrief Act, the supervisory authority referred to in Article 11 (1) of the Pfandbrief Act shall be replaced by the Bundesanstalt. (4) The Supervisory Authority (Section 11 (1)) shall appoint a Supervisory Authority after consulting the Bank. 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 in accordance with the proviso that the supervisory authority referred to in Article 11 (1) shall be replaced by the Bundesanstalt. Unofficial table of contents

§ 13a Mündelsicherheit

The bank's debt securities, which are not denominated in foreign currency, are suitable for the application of coin funds. Unofficial table of contents

§ 14 Arrests and Forced Enforcement

§ 29 of the Pfandbrief Act shall be applied accordingly on Arrests and foreclosures in assets which are entered in the covering register in accordance with § 13 paragraph 3. Unofficial table of contents

Section 15 Special provision for refinancing credit

Credit institutions may, in the granting of loans from the Bank, be able to promise in advance the interest in the return of the interest in the reserve. Unofficial table of contents

§ 16 Resolution

(1) The Bank can only be dissolved by law. The law determines the use of the assets. It may only be used for the promotion of agriculture or agricultural research in the general interest. (2) In the event of dissolution, the creditors of the covered bonds shall be subject to the provisions of § 13. (3) in the register entered in the register of the other creditors of the Bank in the rank. Insofar as these values are not necessary for the satisfaction of the creditors of the covered debt securities, they are available to the other creditors of the Bank. Unofficial table of contents

Section 17 Transitional arrangements

After the entry into force of the Fifth Act amending the Law on the Agricultural Pensions Bank, the Bank's existing cover registers remain as separate cover registers in addition to the cover register in accordance with Section 13 (3). The duties of the trustee pursuant to Section 13 (4) shall also extend to these cover registers. Unofficial table of contents

§ 18 (omitted)

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§ 19 (omitted)

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Section 20 (Entry into force)