Amendment Of Payment Services And Electronic Cash Law

Original Language Title: Grozījumi Maksājumu pakalpojumu un elektroniskās naudas likumā

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The Saeima has adopted and promulgated the following laws of Valstsprezident: the amendment and payment services, electronic money in the law to make payments and electronic money Services Act (Latvian journal 2010, 43. No; 2011, 52, nr. 85., 128, 187; 2013. No; 92. nr. 2014, 2015, nr. 248.;;, 108, 241 2016. no) follows: 1. Article 1: to complement the article 1.1 as follows: ' 11) payment account related services: service , which is linked to the payment account opening, use and closing, including the payment service and the payment in order to put money in the possession of the recipient are based on one of the payment service provider for this law addressed article 3 paragraph 6 "a", "b", "c", "d", "e", "f" and "g" referred to in the document, as well as excess credit and exceeded. '; Add to article 7.1 of the following paragraph: ' 71) European Union residents: a Latvian citizen, non-citizen of Latvia or another Member State of the European Union, the countries of the European economic area or the Swiss Confederation, as well as a citizen of a person who is entitled to reside in Latvia in accordance with the laws of the Republic of Latvia, including a person who is an applicant for asylum or refugee status or the acquired person — even if the person has not declared his place of residence in Latvia; "; to supplement the article with 18.1 points as follows: "181) credit transfer, a payment service that results in one or more times are added to the payee's payment account (from the payer's payment account), on the basis of the payer's payment order provided that the payment service provider of the payer, the payer's payment account is the holder;"; Supplement to the article 29, 30, 31, 32, 33, 34, 35, 36 and 37 of this.: 29) "the Exchange service account (the account of the Exchange): the action by which the consumer (consumer protection law; further, consumer) request one payment service provider to the other either passes the information on all or some of the regular payment orders for credit transfers, direct debit for recurring payments and periodic incoming credit transfers that are performed in the payment account, or transfer any of the positive balance of payment account from one payment account to another, or to perform both of these actions, closing or not closing the previous payment account; 30) the transferring the payment service provider, the payment service provider to another payment service provider to transmit the information required for changing the account; 31) the receiving payment service provider, the payment service provider, which is passed to the information necessary to account for the change; 32) service charge (hereinafter also-fee): all fees, charges and penalties, payable by the recipient pays the payment service provider of the payment service or payment account services; 33) regular payment order, the payer's payment order of the payment service provider, which is the holder of the payer's payment account, make credit transfers at regular intervals or before specific dates; 34) excess credit — the contract with payment account-related services, according to which the payment service provider to give consumers the option of using the funds that exceed the consumer's payment account existing cash balance; 35), with the possibility of exceeding the payment account-related services in the form of a contract concluded within the consumer gives you the option of using the funds that exceed the consumer's payment account in the cash balance or credit the excess agreed that tacit consent, the payment service provider; 36) cash (hereinafter cash): banknotes and coins, scriptural money and electronic money; 37) an innovative service in the field of electronic payments — Latvian scale new or substantially improved electronic payments or electronic money service. " 2. in article 2: Add to article 2.2 of the part as follows: "(22) this law determines measures to ensure the transparency of the fees and the payment service user of comparability, consumer, consumer payment account and change the order in which consumers can open and use a payment account with the core functions (hereinafter referred to as the primary ACC.)."; off in the third paragraph, the number "57."; to supplement the article with the fifth, sixth, seventh and eighth by the following: "(5) this law, 60.1, 60.2, 60.3 58.1 article and the fourth subparagraph of article 75.3 apply in legal business to consumer. If the payment service user is not a consumer, the payment service provider and the payment service user may agree on separate this law, VII, VIII and IX to the non-application of the provisions of chapter in your business legal relations. (6) the provisions of article 46.1 of this law do not apply to credit unions. (7) of this Act, 60.1, 60.2, 58.1 46.1, 60.3, and chapter XIII1 IX1 article does not apply to payment service providers which do not offer consumers with payment account-related services. (8) this law, 27.5, 44.1, 60.1, 60.2 46.1, 58.1, article and chapter IX1 60.3 does not apply to accounts that the natural or legal person opens the electronic money institutions created and maintained in a closed system, and that the person concerned may use electronic money issuance and repurchase transaction records, as well as the payment by electronic money accounts, which are made only in electronic money institutions in closed system (hereinafter referred to as electronic money account). " 3. To make article 3, paragraph 10 by the following: ' 10) services with which a particular payment instrument for goods or services for purchase using: (a)) in relation to a very limited range of goods or services, (b) the payment instrument only) izlaidēj location (the premises), (c)) and the enclosed limited goods seller and provider network, which with the izlaidēj of the payment instrument is directly entered into commercial agreements, d) by suppliers in the territory of Latvia that is a commercial agreement with the payment, if the payment of the instrument izlaidēj instruments releases the national or local authorities or public people for social purposes of the Corporation law in certain cases. " 4. Turn off Article 13, fifth. 5. To supplement the law with article 24.3 of the following: ' article 24.3. A person wishing to provide payment services or electronic money services, pay to the Commission: 1) on the registration in the register of institutions of this law or in article 5 5.1 the procedure for the examination of the documents – 2500 eur; 2) for payment or by electronic money institutions licence article 11 of this law in accordance with the procedure laid down in the documents of the proceedings — 5000 eur; 3) for payment or by electronic money institutions licence article 11 of this law in accordance with the procedure laid down in the examination of the documents submitted, if the person is already registered in the register of institutions — 4000 euro; 4) on registration in the register of institutions of this law or in article 5 5.1 the procedure or examination of documents submitted for payment or by electronic money institutions licence article 11 of this law in accordance with the procedures specified in the examination of the documents submitted, if the person intends to offer an innovative service in the field of electronic payments — 450 euro. " 6. Article 40: express first and 1.1 part as follows: "(1) the paying authority, which received a license from the Commission, the funding of the activities of the Commission in charge of eur 7000 per year and in addition to 1.4 per cent (inclusive) of its gross revenue related to the provision of payment services, year, but total authorities charge for financing the activities of the Commission does not exceed 100 000 euro per year. (11) an electronic money institution that received a license from the Commission, the funding of the activities of the Commission in charge of eur 7000 per year and in addition to 1.4 per cent (inclusive) of its gross revenue related to electronic money institutions, the provision of services, but the total authorities charge for financing the activities of the Commission does not exceed 100 000 euros year. "; turn off 1.2; to supplement the article with 1.3 parts the following: "(13) if the institution offers only an innovative service in the field of electronic payments, to finance the activities of the Commission paid 1000 Euro per year for the next three years from the date of receipt of the licence authority."; turn off the second and third part of the name and the number "and 1.2". 7. in article 56.1: express first and second subparagraph by the following: "(1) the paying authority start-up according to this law, the provisions of article 5 does not require a license, and the registration of this law article 10 the third paragraph of the said registry fees for financing the activities of the Commission: 1) 1000 Euro per year if the plans to provide only bezkont of money transfer services, and in addition to 1.4 per cent (inclusive) of its gross revenue related to the provision of payment services, year, but total authorities charge for financing the activities of the Commission does not exceed 100 000 euro per year; 2) 3000 euro per year if the plan to give any of this law, article 1, paragraph 1, "a", "b", "c", "e" or "g" referred to payment services, and in addition to 1.4 per cent (inclusive) of its gross revenue related to the provision of payment services, year, but total authorities charge for financing the activities of the Commission does not exceed 100 000 euro per year. (2) an electronic money institution, the start-up according to this law, the provisions of article 5.1 does not need a license, and the registration of this law article 10 the third paragraph of the said registry fees for financing the activities of the Commission: 1) 1000 Euro per year, if you do not intend to provide payment services, and in addition to 1.4 per cent (inclusive) of its gross revenue related to electronic money institutions, the provision of services, but the total authorities charge for financing the activities of the Commission does not exceed 100 000 euro per year; 2) 4000 euro per year if the plan to also provide payment services, and in addition to 1.4 per cent (inclusive) of its gross revenue related to electronic money institutions, the provision of services, but the total authorities charge for financing the activities of the Commission does not exceed 100 000 euros year. "; turn off the third; Add to article 3.1 part as follows: "(31) if the institution offers only an innovative service in the field of electronic payments, to finance the activities of the Commission paid 1000 Euro per year for the next three years from the date on which the authority registered this law article 10 the authorities referred to in the third subparagraph."; turn off the fourth paragraph, the words "and the third"; replace the fifth part number "with the number" 1000 "426" and add to part with the words and "making payments until next January 30"; turn off the sixth paragraph, the words "the third". 8. in article 45: Supplement to the second part of the article as follows: "(2) the Commission, in its homepage on the internet publish information on consumer rights protection centre of tīmekļvietn, created in which consumers can compare the payment service providers of the service charges related to the payment account."; believe the current text of article about the first part. 9. Supplement article 46.1 of law with the following: "article 46.1. (1) the payment service provider that provides the payment account-related services, annually submitted to the consumer rights protection Centre for current information on this law, in the second paragraph of article 60.1 of the services. If the payment service provider in the information previously provided changes are made, the payment service provider shall communicate them to the consumer rights protection centre in this article referred to in the second subparagraph the period provided for in the regulations. (2) the cabinet shall determine the consumer rights protection centre in accordance with the first paragraph of this article, the amount of information to be provided, content, procedures, deadlines for submission and form. " 10. To supplement the law with article 50.1 the following: ' article 50.1. (1) the Commission is responsible for cooperation with national supervisory authorities and the European banking authority, to ensure the immediate exchange of information on licensed and registered in Latvia, the payment service provider. (2) the Commission shall, on the basis of a reasoned request, Member States shall provide the management authority or the European banking authority about Latvia royalty and registered payment service providers that provide the services mentioned in this Act, if such information is needed for supervisory duty. The Commission is right to point out that this information may be shared with third parties, for which it required statutory tasks, only with the written consent of the Commission. (3) the Commission decision to refuse a management authority of another Member State cooperation in the inspections or other supervisory activities or the second part of this article, determine if the exchange of information: 1) such on-the-spot check, other supervisory activity or exchange of information might adversely affect the Latvian sovereignty, security or public order; 2) for the same offence in Latvia and against the same persons have already launched legal proceedings; 3) for the same offence and in respect of the same persons have already entered into force the judgment of the Court of Justice. (4) the Commission shall inform the requesting Member State cooperation, the supervisory body of the refusal and the reasons for it. " 11. Article 56 be expressed as follows: "article 56. (1) if the Commission finds that the payment system, payment service provider, or an electronic money institution does not comply with the requirements of this Act, the regulations issued by the Commission or the European Union directly applicable laws and regulations and payment services, electronic money when making a decision, it shall be entitled to exercise and apply: 1) one or more of the following measures: (a) monitoring) require that the person responsible for the operation of the payment system payment service provider, or an electronic money institution shall immediately take the measures necessary to avoid non-compliance with laws and regulations, and submit to the Commission within the time limit laid down in the action plan, b) given the person who is responsible for the operation of the system of payments, the payment service provider, or electronic money institutions supervision bodies and executive bodies, as well as leaders and members of the written orders necessary to restrict or suspend the payment system , the payment service provider, or electronic money institutions activity which endangers or could endanger their stability, solvency or reputation, c) set limits or the payment service provider of the electronic money institution's activities, including to suspend partially or totally the provision of payment services, d) to suspend partially or totally the issuance of electronic money, electronic money institution; 2) one or more of the following sanctions: (a)) to make the person who is responsible for the operation of the system of payments, the payment service provider of the electronic money institution or for breach alarms the responsible natural person, b) prescribe the persons who are responsible for the operation of the system of payments, the payment service provider, or electronic money institutions to the general meeting, the meeting of members, to the Council or Board to withdraw from the post Board Member , a person who is directly responsible for payment services activities of the authority or the emission of electronic money management, the person responsible for the crime of money laundering and terrorist financing prevention requirements, or prokūrist, c) to impose a legal person responsible for the infringement or natural person fines of up to 142 300 euro for this law or regulations issued by the Commission rules, or directly applicable European Union legislation and payment services in the field of electronic money requirements. (2) For infringements of the criminal law on money laundering and terrorist financing in the area of prevention with regard to customer identification and research, reporting of suspicious and unusual transactions, the provision of information to Criminal money laundering prevention, abstinence from the service transaction, the freezing of funds, the internal control system, the storage and deletion of information, or for infringement of the law relating to international or national sanctions that financial constraints The Commission is empowered: 1), the authority to impose fines of up to 10 percent of total annual turnover, in accordance with the latest available reports, approved by the meeting of the shareholders or members. If 10 percent of total annual turnover, available in accordance with the first sentence of this paragraph, is less than five million, the Commission is entitled to impose a penalty of up to five million. If the institution is a parent company or a subsidiary of the parent company, the total annual turnover is the total annual turnover or income in accordance with the relevant laws and the last available for consolidated accounts approved by the main management structure of the parent; 2) impose official, employee or the person who at the time of the offence was responsible for carrying out certain activities on behalf of the authority or interest, a penalty of up to five million. (3) If the Commission, on the basis of the first and second part, has issued the administrative act, except for the decision on the imposition of the fine, the appeal shall not suspend its activity. (4) the Commission information on the person in accordance with the first and second part of sanctions applied and monitoring measures on its home page on the internet, showing the particulars of the person and of the infringement, as well as administrative acts issued by the Commission, adopted the draft ruling and appeals. (5) the Commission, in the fourth paragraph of this article, that information can be made public without identifying the person, if, after the preliminary assessment, finds that the natural or legal persons concerned disclosure may endanger the stability of the financial markets or cause disproportionate damage to the parties involved. (6) If it is expected that this article is referred to in the fifth subparagraph, the circumstances a reasonable period of time may end up, in the fourth part of this article, the information referred to in the publication may be postponed to the following period. (7) in accordance with the procedure laid down in this article, the Commission website contains internet information is available for a period of five years from the date of insertion. " 12. off article 57. 13. To supplement the law with article 58.1 as follows: "article 58.1. (1) If the payment service provider offers to open a payment account as part of a package together with other services that are not related to the payment account, it informs consumers about what is in each individual included in the service charge. The payment service provider shall inform the consumer as to whether the payment account can be opened individually. (2) If one or more services are offered as a payment account-related components of the suite of services, the payment service provider information on the applicable fee specified in the fees for the whole kit, as well as separate charges for each of the services within it. (3) the payment service provider shall provide free of charge the information provided for in this article it customer service or website on the internet, as well as, upon request, on paper or on another durable medium. " 14. To supplement the law with 60.1 60.2 60.3, and the article as follows: "article 60.1. (1) the Commission shall issue normative rules that define the territory of the Republic of Latvia widely used consumer payment account with associated services (hereinafter referred to as the common consumer services) standardized term lists and definitions of terms (hereinafter standardised term list). Every four years, the Commission shall assess and, if necessary, updates the standardised term list. (2) the payment service provider shall provide the consumer with information about fees they apply commonly used for consumer services (hereinafter service price list). The Commission shall determine minimum requirements regarding the content and form of the list price. (3) the payment service provider can add to the price list of services and standardized term lists with information on other it offered to the payment account related services. The payment service provider to its customer service or website on the internet gives consumers free access to those documents. The consumer shall be entitled upon request to receive the documents on paper or on another durable medium. (4) the payment service provider of the time before the contract for the conclusion of a payment account provides the consumer with the information referred to in the third subparagraph, in the national language or in another language agreed to by the parties. (5) the payment service provider in the third and fourth part of these obligations can be fulfilled, also providing the consumer price list together with a draft contract, if not violated under the second subparagraph of this article, the Commission set out requirements. Article 60.2. (1) the payment service provider at least once a year, using the means of communication (kind of) agreed to by the parties, free of charge in accordance with the second paragraph of this article provides an overview of the consumer of those services, the appropriate fee associated with the payment account. (2) the Commission shall determine minimum requirements regarding reporting on services charges applied (hereinafter referred to as service fee statement) content, form and manner of provision. The payment service provider has the right to provide the service fee report together with other consumer information about services related to account if the payment is not in violation of the established under this part of the Commission. Article 60.3. (1) the payment service provider in the agreement provided for the consumer and any other information in the provision of the standardized terms used by the Commission in accordance with this law, the first paragraph of article 60.1. (2) If the payment service provider, the name used to represent the service provided are clearly articulated to the standardised term list of covered services, you can use it in the agreement provided for the consumer and any other information. (3) the pricelist and service fee in the payment service provider in addition to standardised terms can be used as the name of the relevant additional terms of service. " 15. off the sixth subparagraph of article 62.1, in article 76 and article 87 of the sixth paragraph, the words "consumer protection law". 16. To supplement the law with the chapter IX1 as follows: "nodaļaMaksājum account change IX1 75.1 article. This chapter applies to payment accounts, opened in the payment service user, the consumer, to payment service providers, whose place of business is in Latvia. Article 75.2. (1) the payment service provider shall provide the Exchange service account in this Act and referred to in the second subparagraph of article normative rules in the order, if the transferring the payment service provider and the receiving payment service provider shall provide the payment account-related services in Latvia and the two have a payment account in euro currency. (2) the Commission shall issue rules and regulations that determine the Exchange service accounts, including the account change request content and form. (3) the consumer shall submit an account change request to the receiving payment service provider that it open is there a payment account. Consumer account change request includes the consumer consent that the news about consumers, their payment account and the transactions will be given account shift involved the payment service provider and will be used with the Exchange account related activities. (4) the payment account of the Exchange within the transferring the payment service provider may block the payment instrument prior to the date specified in the demand of the consumer, with the exception of article 81 of the Act referred to in that subparagraph. Article 75.3. (1) the transferring and receiving payment service provider shall provide free of charge to the consumer in his information about his current regular submitted payment orders and direct debit payment the consumer's payment account. (2) the transferring the payment service provider shall provide free of charge to the receiving payment service provider information that according to this law, 75.2 it referred to in the second subparagraph of article the Commission's regulatory arrangements has requested the Exchange service account. (3) the closing payment service user account, the transferring of payments payment service provider having regard to article 67 of this law and other provisions of part IV. (4) if the consumer uses the Exchange service account and request a payment account, transferring the payment service provider shall terminate the contract and the conclusion of a payment account in the consumer's request, if the specified date is settled all of the payment account of the obligations arising for the use and completion of the remaining steps in the request. The payment service provider shall inform the consumer without delay, if the consumer does not meet the obligations do not allow to terminate or conclude standard contract payment account. (5) where it is stipulated that the payment service user will pay for the Exchange service account, the payment service provider of the service fee is determined in proportion to the actual cost of the service, subject to the first, second and third subparagraph. 75.4 article. The Exchange service account in the payment service providers involved in the payment service user shall promptly reimburse any financial losses incurred as a direct result that the payment service provider has completed the account Exchange service related responsibilities or prevented those obligations. 75.5 article. The payment service provider of the payment service user after the request on paper or on another durable medium, as well as constantly in their customer service and their website on the internet free of charge provide the following information for the account of the Exchange service: 1) the transferring and receiving payment service provider task in each account Exchange service period in accordance with the Commission's rules, regulations; 2 execution of each phase) time; 3) fees for account services, if such exchange is intended; 4) which the relevant payment service provider will request from the payment service users; 5) out-of-court arbitration proceedings in accordance with this law, article 105 and 106; 6) information as to whether the payment service provider is the deposit guarantee fund. 75.6 article. (1) If a consumer wants to open a payment account to the payment service provider situated in another Member State, the payment service provider that the consumer's payment account in Latvia, upon receipt of the request shall: 1) provides the consumer with a list of all existing regular payment orders and customer driven direct debit payments, if any, and the information available on periodically for incoming credit transfers and direct debit in the driven vendor payments that satisfied the consumer's payment account in the past 13 months; 2) transfer any positive balance that is the consumer's payment account in the payment account that have opened or kept at new payment service provider, if the consumer requests contains all data which identify the new payment service provider and the consumer's payment account; 3 switch the consumer's payment account). (2) the payment service provider that the consumer's payment account to the first paragraph of this article 1, 2, and 3. the actions referred to in paragraph 1, the date specified by the consumer and at least six working days after the date on which the payment service provider has received the consumer's request if it is not executed from the payment account of the obligations arising for the use of, and unless otherwise agreed by the parties. The payment service provider shall inform the consumer without delay, if it is not executed from the payment account of the resulting obligations of use that does not let you close the payment account. (3) the payment service provider that the consumer's payment account to the first paragraph of this article 1 and paragraph 3 these activities free of charge. If the payment service provider shall provide the first part of this article, the information referred to in paragraph 1 rather than in standard contract language, but in a different language, it is entitled to impose charges for the preparation of documents in another language. " 17. To supplement the law with the chapter XIII1 as follows: "the primary ACC. nodaļaPatērētāj 97.1 XIII1 article. This chapter applies to credit institutions in Latvia provided with payment account-related services to residents of the European Union — consumers — and determine the order in which credit institutions resident in the European Union offers to open and use primary ACC.. Article 97.2. (1) in this Act the credit institution referred to in article 60.3 has the responsibility to also offer primary ACC. in this chapter and in accordance with the procedure laid down. (2) a consumer who is a resident of the European Union, a person who has no residence permit, but whose expulsion from Latvia pursuant to the Republic of Latvia laws, have the right to open and use primary ACC. to credit institutions, which does business in Latvia and it offers, unless such rights are not restricted under this law or other laws. (3) a credit institution offers primary ACC. without additional conditions, such as additional services or the purchase of shares of the credit institution unless the credit stock condition does not apply to all credit institutions customers. (4) a consumer who wants open primary ACC. to the credit institution shall be submitted to the application. The application shall be accompanied by: 1) signed the open a payment account which will ensure this law services referred to in article 60.5, another credit institution, which provides payment services in Latvia; 2) opening of other primary ACC. credit required for requested information. (5) a credit institution within 10 working days after all of the fourth paragraph of this article, of receipt of the information referred to in the open primary ACC. to the consumer or refuse opening primary ACC.. (6) a credit institution shall refuse primary ACC. opening in any of the following cases: 1) this account opening or servicing a result would violate the requirements of the legislation, including the criminal money-laundering and terrorist financing prevention; 2) the consumer has provided false information to open the primary ACC.. (7) a credit institution has the right to refuse primary ACC. opening in any of the following cases: 1) the consumer is already open a payment account in this or another credit institution, which does business in Latvia and this law provides the services mentioned in article 60.5, except where the consumer has already received a notification that payment account will be closed; 2) consumers can no longer meet the second part of this article; 3) payment account opening or servicing can lead to institution of reputation risks. (8) a credit institution after the decision to refuse the opening of primary ACC., in writing without delay and shall inform the consumer without charge about denial, as well as for the reasons, except when such disclosure is contrary to the national security or public policy interests (including the requirements of the criminal law on money laundering and terrorist financing in the area of prevention). Credit institution communication with the applicant uses the application address for correspondence (including e-mail address). (9) in the event of refusal, the credit institution shall inform the consumer about the handling of complaints and out-of-court dispute settlement procedures in accordance with the law and with article 105.106, specifying the relevant contact information. 97.3 article. (1) primary ACC. includes the following services: 1) all acts necessary for the payment of the account opening, servicing and closing; 2) transfer of funds in the payment account; 3) cash withdrawals from a payment account in the credit institution or credit institution ATMs during work or outside it; 4) the ability to use the following payment services: (a)), including regular credit transfer charges, including the submission of the relevant payment order in the presence of or using the online system of the credit institution, if the payee's account is opened to the payment service provider in Latvia or in the Member State b) payments by payment card, including making payments online, c) direct debit payments if the payee's account is opened to the payment service provider in Latvia or in the Member State. (2) a credit institution in the first part of the services offered and provided only to the extent and in the range in which it offered and provided to their customers — consumers, which the credit institution is open to other forms of payment account. (3) a credit institution provides consumers the opportunity to propose, amend or withdraw the payment from the credit institution's primary ACC. indoors or using online services if the institution offers. (4) a credit institution is empowered to agree with the consumer as primary ACC. opening and service in another currency than the euro. (5) a credit institution within the primary ACC. to the consumer provides unlimited in the first part of that service, if one limits the number not provided for by other laws. (6) in the first paragraph of the services, except for payments with the credit card, the credit institution shall be offered free of charge or for a reasonable fee corresponding to this law, the provisions of article 60.5. (7) as regards the first part of this article 4, point "a" and "c" the services referred to in the Commission is entitled to impose restrictions on the number of transactions that exceeded the credit institution are eligible to apply for a fee in addition to the sixth part of this article referred to in the charge. The following additional fees together with the fees referred to in the sixth paragraph may not exceed the fee, usually by the credit institution, the following limit exceeded other payment account. (8) in the sixth paragraph of this article, a credit institution as defined in the charge limitations do not apply to such credit institutions suitable to the consumer fee, determined by the credit institution's business partner, if the first paragraph of this article payment services are provided by him. 60.5 article. (1) a credit institution specified on the primary ACC. and the services within it are proportionate to the nature of the services provided and the amount. (2) the penalties applicable to the consumer for non-compliance of a credit institution shall be determined taking into account consumer protection law and the limits laid down in the civil code. (3) the fee for the service and the primary ACC. Services, credit institutions shall take into account the two following conditions: 1) it does not exceed the credit institution's clients — natural persons — appropriate standard service charges linked to a payment account; 2) must not be more than 25 percent exceed the average fee, by credit institutions in Latvia shall apply to consumers of services related to the payment of the account, unless such excess is not related to the cost of the services concerned. (4) "Association of commercial banks of Latvia" annually compile and publish their website on the internet information on average credit service charges related to the payment account. In relation to this part that delegated the task execution "of the Association of commercial banks of Latvia" is the Commission's functional subordination, which is implemented in the form of monitoring. Credit institutions are obliged by the Association "Association of commercial banks of Latvia" and the deadline to provide information on the appropriate charge consumers for services related to the payment account. 97.5 article. (1) a credit institution through a standard with the consumer about the opening primary ACC. followed this law, the provisions of Chapter VIII. (2) a credit institution shall terminate the contract unilaterally in any of the following cases: 1) payment account further service is inconsistent with the requirements of the legislation, including the criminal money-laundering and terrorist financing prevention; 2) consumer payment account is intentionally used an illegal activity. (3) a credit institution shall be entitled to terminate the contract unilaterally in any of the following cases: 1) payment account for more than 24 months in a row is not made; 2) the consumer has provided false information, and primary ACC. was opened based on them; 3) the consumer no longer complies with this law, in the second paragraph of article 97.2; 4) the consumer has opened other payment account, which then allows you to use this law in Latvia the services referred to in article 97.3; 5) maintenance of the future primary ACC. brings reputation risks to the credit institution; 6) a credit institution shall terminate the payment service to all their clients — consumers; 7) not less than six months of consumer debt on primary ACC. and its use of the services provided in the framework of the above primary ACC. balance. (4) a credit institution shall terminate the contract immediately for primary ACC. This article in the cases referred to in the second subparagraph, inform the consumer of the termination and its basis, except where such disclosure would be contrary to the national security or public policy interests (including the requirements of the criminal law on money laundering and terrorist financing prevention). (5) in the third subparagraph, in the cases referred to in the credit institution shall terminate the contract for primary ACC. pursuant to this law, the first paragraph of article 63 and article 67 of the fourth subparagraph and be informed of the termination and the basis for at least two months in advance, except cases in which disclosures of such information would be contrary to the national security or public interest. (6) If a credit institution in accordance with the fourth and fifth are obliged to inform the consumer of the termination of the contract, it shall indicate in the notice of complaints procedures, appeal procedures and out-of-court dispute settlement procedures, the consumer is entitled under this Act and article 105.106, as well as your contact information. 97.6 article. Credit institution at no additional cost to the consumer provides information about primary ACC. and its conditions of use, this information is provided in a meaningful way and putting a visible place in its branches and its homepage on the internet. This information shall be included in the credit institution expressly provide for the acquisition of additional services is not mandatory to access the primary ACC.. " 18. Replace article 102, the words and figures "this Act XI, XII, XIII and XIV to the chapter" with the words and figures "article of this Act 75.4, XI, XII, XIII and XIV to the chapter". 19. in article 105: turn off in the first, second and fifth paragraphs the words "consumer protection law"; replace the first paragraph, first sentence, the words and figures "this law VII, VIII, IX, X, XI, XII, XIII and XIV of the chapter" with the words and figures "article 46.1 of this law, VII, VIII, IX, IX1, X, XI, XII, XIII, and XIV chapter XIII1"; Replace in the second sentence of the first subparagraph, the words and figures "this law VII, VIII, IX, X, XI, XII, XIII and XIV to the chapter" with the words and figures "this law VII, VIII, IX, IX1, X, XI, XII, XIII, and XIV chapter XIII1"; Replace in the second, fourth and fifth paragraphs the words and figures "this law VII, VIII, IX, X, XI, XII, XIII and XIV of the chapter" with the words and figures "this law VII, VIII, IX, IX1, X, XI, XII, XIII, and XIV chapter XIII1". 20. Replace article 106, the words and figures "this law VII, VIII, IX, X, XI, XII, XIII and XIV of the chapter" with the words and figures "this law VII, VIII, IX, IX1, X, XI, XII, XIII, and XIV chapter XIII1". 21. transitional provisions be supplemented with 21, 22, 23, 24 and 25 as follows: "the Commission 21 to 2017 July 1 does this law referred to in article 60.1 and 60.2 normative terms, and payment service providers that the requirements laid down in articles start from October 1, 2017. 22. The first reference period for which the payment service provider shall provide the 60.2 of this law referred to in the first paragraph of the report of the service charge, starting with 1 July 2017. 23. in article 46.1 of this law the information referred to in the first subparagraph the consumer rights protection centre, the payment service provider shall provide the first time up to January 1, 2018. 24. Article 40 of this law first and 1.1 (new version), part of the amendment on 1.3 1.2 part mute, as well as the amendments to the second and third subparagraphs, article 24.9 of the first and second part (new version), the part of Amendment 3.1 of part three of the shutdown, the fourth amendment, the fifth and sixth paragraph shall enter into force on April 1, 2017. Institutions article 40 of this law in the first part, 1.1, 1.3, 24.9 in the first paragraph, second subparagraph in point 1 and 3 in part a fee to finance the activities of the Commission starting pay by 2017. the second quarter of the year. 25. the authority of this Act for the second subparagraph of article 56.1 (2) the fee provided for in the financing of the activities of the Commission starting pay by 1 January 2018. From 2017 April 1 until 2017 31 December the authorities referred to in this law, article 24.9 of the second paragraph of paragraph 2, the Commission for financing cost 2000 euro per year and in addition to 1.4 per cent (inclusive) of the gross revenue of the Authority relating to electronic money institutions, the provision of services, but the total authorities charge for financing the activities of the Commission does not exceed 100 000 euro in a year. " 22. Add to the informative reference to directives of the European Union with paragraph 3 by the following: "3) the European Parliament and the Council on 23 July 2014, the EU Directive 92/2014/payment account the comparability of tariffs, payment account and access to the payment account with core functions (text with EEA relevance)". The Parliament adopted the law of 2 March 2017. The President r. vējonis Riga 2017 March 14


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