Amendments To The Law "on Private Pension Funds '

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

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Read the untranslated law here:

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, 19; 1999, no. 13. no; 2000, no. 13; 2002; 2004, nr. 22, 2., no. 9; 2005, 7., 8., no. 24; 2008, 13, no. 23; Latvian journal, 2009, 94 no; 2012, 56 no). the following amendments: 1. Supplement article 1 with 26 and 27 the following: "26) investment fund — a fund investment management company within the meaning of the law; 27) alternative investment fund — a Fund of alternative investment fund managers and law. " 2. To make the third part of article 8 paragraph 15 as follows: "15) according to article 9 of this law establish the requirements of the pension plan. This pension plan shall be filed in one of the following forms: (a) the electronic document in the form) according to the legislation on electronic document production and design, (b)) in the form of a paper document (in this case, the pension plan shall also be submitted electronically by sending to the financial and capital market Commission's electronic mail address); ". 3. Express the eleventh part of article 9, paragraph 4 of the following: "4) pension plan text that contains amendments. The full text of the pension scheme to the Pension Fund shall provide financial and capital market Commission in one of this law, article 8 of the third subparagraph of paragraph 15 referred to in form. " 4. To make the fifth article 11 the following: "(5) the pension plan in the specified retirement age may not be less than 55 years of age, except in such special occupations workers, which list shall be determined by the Cabinet of Ministers." 5. Article 23: make the third subparagraph of paragraph 8 by the following: ' 8) investment funds and 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 their investment licence; " to make the fourth part of paragraph 5 by the following: "5) investment in one fund or alternative investment fund shall not exceed 10 per cent of pension plan assets and 10 percent of the net assets of the Fund;" Add to 10.1 part with point 15 as follows: "If the investment credit risk 15) evaluation uses external credit assessment institutions (rating agency) rating, provided that these do not use the motor rating and credit risk assessment as the only Mayor." 6. Replace article 2.3 of part 25 the words "newspaper" with the words "Official Gazette". 7. Replace article 28, first paragraph, the words "financial activities" with the words "compliance with the requirements of this law". 8. To supplement the law with article 34 as follows: "article 34. Pension Fund payments to the financial and capital market Commission (1) the financing of pension funds in the financial and capital market Commission for financing its operation paid up to 0.4 percent including from quarter pension plan participants and made them the contributions made to the Pension Fund in a licensed pension plans. (2) the financial and capital market Commission issued rules on the regulations referred to in the first subparagraph the payment calculation and reporting procedures. (3) in the first subparagraph, these payments are made until the 30th of the month following the quarter. (4) Of the first paragraph of this article missed payments or transfer does not transfer the full calculation of money 0.05% of the unpaid amount for each delayed day. (5) payments referred to in this article, including the financial and capital market Commission of Latvia, Bank account. " 9. transitional provisions be supplemented by the following paragraph 16: "16. Article 23 of this law 10.1 part 15 regarding the use of credit ratings in effect 2014 21 December." 10. Add to the informative reference to European Union directive to point 7 by the following: ' 7) the European Parliament and of the Council of 21 may 2013-2013/14/EU directive, amending Directive 2003/41/EC on the activities and supervision of institutions for occupational retirement provision, directive 2009/65/EC on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) directive and 2011/61/EU on alternative investment fund managers in relation to the excessive reliance on credit ratings. " The Parliament adopted a law in July 9, 2013. The President a. Smith 2013 in Riga on July 24.