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Amendments To The Law "on Private Pension Funds '

Original Language Title: Grozījumi likumā "Par privātajiem pensiju fondiem"

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The Saeima has adopted and the President promulgated the following laws: the amendments to the law "on private pension funds" "make law" on private pension funds ' (Latvian Saeima and the Cabinet of Ministers rapporteur, 1997, nr. 14; 1998, 2, no. 19; 1999, no. 13; 2000, no. 13; 2002; 2004, nr. 22, 2., no. 9; 2005, 8, no 24; 2008, 13, 23 no; 2009, No 14; Latvian journal 56., 2012, no; 2013, 142, 187. no; 119.2014, no; 208. in 2015, no; 2016, 31 No.) the following amendments: 1. Supplement article 1 to 28 by the following: "28) regulated market-market financial instruments market law." 2. Supplement article 6 the second part of paragraph 3 with the following: "3) investment management company, which has received a Government license to provide services in a Member State or the Organisation for economic cooperation and development in a Member State." 3. in article 14: adding to article 6.1 of the part as follows: "(61) Pension Fund provides that both the Pension Fund Board, and the Council at least one-third of the Board and the members of the Council or two people depending on which of these figures is lower, there is no conflict of interest within the meaning of this law in respect of pension fund pension plan management or holding. '; to supplement the article with the fifteenth part as follows: "(15) of the employee pension fund must not be in one group with the pension fund company employee who in one group with existing company pension funds directly to perform functions in connection with the Pension Fund, the pension plan management or holding a contract." 4. Express 22.1 article 7.1 part as follows: "(71) to the Pension Fund, which offers only a specific contribution plan without a guaranteed rate of return or the plan does not provide cover against biometric risks, ensure that the following conditions are met: 1) Open Pension Fund share capital is not less than eur 400 000; 2) if the pension fund losses more than half of the share capital of the Pension Fund, the Pension Fund shall immediately inform the financial and capital market Commission and not later than 10 days submit to the harmonisation of the financial and capital market Commission financial position improvement plan, specifying actions and deadlines. " 5. Article 23: Supplement to the third part 3.1 point as follows: "31) national and international financial institutions in the emitted or guaranteed securities or money market instruments which do not comply with this part 1, 2, and 3. the requirements of point, but is included in Member State organized regulated market;"; to make the third part 4, 5 and 6 of this paragraph: "4) shares and other equity securities, if they are included in a Member State or in paragraph 2 of this part of the country referred to organized regulated market; 5) debt securities company, if they are included in a Member State or in paragraph 2 of this part of the country referred to organized regulated market; 6) company of equity and debt securities, if they are not included in the regulated market, but the securities rules provides that the securities within one year from the date of subscription to those undertaken, will be included in a Member State or in paragraph 2 of this part of the country referred to organized regulated market; "; make the third subparagraph of paragraph 8 by the following: ' 8) investment funds; "; Supplement third with 8.1 paragraph by the following: ' 81) alternative investment funds or those of the common pielīdzināmo investment undertakings established in this part, paragraph 1 or 2 in that country and of which the investor is entitled without restriction to dispose of part of its investment; " Add to fourth with 1.1 as follows: ' 11) total investment in the third part of this article referred to in point 3.1, the securities or money market instruments shall not exceed 10 per cent of pension plan assets; " Express 5.1 part as follows: "(51) at least 70 per cent of the pension plan's total investment in securities, money market instruments, investment funds, alternative investment funds or similar investment companies of joint investment and venture capital investing in the market of investment objects (financial instruments) that are included in a Member State or the Organisation for economic cooperation and development organised in the Member State of the regulated market."; to make an eighth part of paragraph 4 by the following: "4) transactions in financial derivatives take part three of this article, paragraph 4 in that country organized regulated market or financial derivatives the counterparty is a credit institution, which corresponds to the third paragraph of this article, point 7;". 6. transitional provisions be supplemented by the following paragraph 18: "18. Open pension funds that finance and capital market Commission in accordance with the procedure laid down in this Act is issued a license to this law, article 22.1 7.1 part, expressed in a new version, the effective date and who offers only the specific contribution plan without a guaranteed rate of return or the plan does not provide cover against biometric risks, provides requirements for the amount of the paid-up share capital to 2017 November 1." The law adopted by the Parliament in 2017 on May 18. The President r. vējonis Riga 2017 on May 31st