The Amendments To The Law On Credit Institutions

Original Language Title: Grozījumi Kredītiestāžu likumā

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Read the untranslated law here: https://www.vestnesis.lv/op/2013/106.6


The Saeima has adopted and the President promulgated the following laws: the law of credit institutions to make the law of credit institutions (the Parliament of the Republic of Latvia and the Cabinet of Ministers rapporteur, 1995, nr. 23; 1996, 9, 14, 23 no; 1997, no. 23; 1998; 2000, no. 13, no. 13; 2002, 10, 23; 2003, nr. 14. No; 2004, 2, 12, No 23; 2005, 13, 14, 15 no; 2006; 2007, nr. 7, 12 no; 2008 , 14, no. 23; 2009, 6., 7., 17, no. 22; Latvian journal 2010, 23, 51, 160. no; 2011, No 4; 2012, 50, 56, 92 no; 2013, 61 no) the following amendments: 1. Replace the words "the whole Law Gazette" journal "by the words" official publication "journal".
2. in article 1:11.1, 11.2, 11.3 to supplement and 11.4 point after the words "financial holding company" established by the words "or mixed financial holding company"; to supplement the article with 11.7 and 11.8 points as follows: "the Member parent 117) a mixed financial holding company, registered in a Member State of a mixed financial holding company, which is licensed in that Member State of the subsidiary credit institution or other registered in that Member State a financial holding company or mixed financial holding company subsidiary; 118) the European Union's parent mixed financial holding company, the Member State parent mixed financial holding company, which is not licensed in any Member State of the subsidiary credit institution or in any Member State or of another financial holding company of the other mixed financial holding company subsidiary; "; Express 41. and 42 as follows: "41) creditors ' meeting — organised joint actions of the creditors of the credit institution's insolvency and the form of winding-up proceedings; 42), the Committee of creditors — creditors meeting elected body that the insolvency of the credit institution, and in the case of winding-up represents a meeting of creditors according to the prescribed extent; "; turn off 55; replace the words "in paragraph 60 of the European Union and the parent credit institution the parent European Union financial holding company" with the words "mother's European Union credit institutions, the European Union, the financial holding company of the mother and the mother's mixed financial holding company".
3. Add to article 27.1 of the seventh paragraph as follows: "(7) if the financial and capital market Commission is an institution of consolidated supervision, the European banking authority and the relevant supervisory bodies of the Member States shall provide information on the consolidation group of a credit institution in respect of article 14 of this law, the first subparagraph of point 2 and 3, and of article 34.1 of the seventh subparagraph of article 50.9 requirements, as well as the consolidation of the legal group , management and organisational structure. " 4. Supplement article 30.1 after ' investment management company "(the fold) with the words" alternative investment fund manager "(fold). 5. Supplement article 33.2 after "Trust Fund" with the words "alternative investment funds". 6. Supplement article 50.8 fifth paragraph after the words "the Republic of Latvia on financial holding company of the mother" with the words "the Republic of Latvia or the parent mixed financial holding company". 7. in article 50.9: make the second paragraph as follows: "(2) a credit institution which is the parent of the Republic of Latvia or of a financial holding company of the Republic of Latvia parent mixed financial holding company's subsidiary company, the first part of the financial holding company or a mixed financial holding company of the Group's consolidation level."; to make the fourth subparagraph by the following: "(4) a credit institution comply with the third paragraph of this article, the requirements of the financial holding company or a mixed financial holding company consolidation at group level, if the parent company is established in the Republic of Latvia in the European Union the financial holding company of the mother or in the Republic of Latvia to the European Union established parent mixed financial holding company and its subsidiaries registered in the Republic of Latvia society, fulfilling the requirements of article 36.3 of this act individually or consolidation of sub-group level."; express the sixth part as follows: "(6) where a credit institution which is the parent of the Republic of Latvia, the Republic of Latvia of a credit institution the parent financial holding company or of the Republic of Latvia parent mixed financial holding company or of a subsidiary company, its parent or its financial holding company parent of a mixed financial holding company has foreign subsidiaries that are credit institutions, financial institutions or investment management company, or a participation in a credit institution, financial institution or investment management company such credit institutions followed this law, 35, 36.2, 42, 44 and 45 of the consolidation requirements of article sub level. " 8. Supplement article 63 the first part with a 17.1 point as follows: "171) Parliamentary Inquiry Commission — its tasks necessary information."
9. Article 64: to supplement the first subparagraph following the words "certified auditor representative" with the words "credit enterprise" the potential benefit of the representative; Add to the second paragraph, the words "or potential beneficiaries of the establishment of the credit institution's representative". 10. To supplement the law with article 100.1 as follows: "article 100.1. (1) a credit institution pays the financial and capital market Commission for funding its activities up to 0.033 percent including the average assets of the credit institution about a quarter. (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) the payment referred to in this article missed transfers or transfers do not fully calculate the delay for each delayed day 0.05% of the unpaid amount. (5) payments referred to in this article, including the financial and capital market Commission of Latvia, Bank account. "
11. in article: 112.2 to make the second and the third part as follows: "(2) If a credit institution the parent company is the parent of the Republic of Latvia on financial holding company, the parent of the Republic of Latvia to the mixed financial holding company, registered in the Republic of Latvia in the European Union the financial holding company of the mother or in the Republic of Latvia to the European Union established parent mixed financial holding company or by another Member State of the European Union, the financial holding company of the mother or another European Union Member State of the parent mixed financial holding company that is not a subsidiary company of credit — — in other Member States, financial and capital market Commission carried out such consolidated supervision of credit institutions, the financial holding company or a mixed financial holding company consolidation at group level. (3) If in the Republic of Latvia and at least one credit institution established in a Member State, the subsidiary, the parent company of the same mother, the Republic of Latvia on financial holding company, the parent of the Republic of Latvia to the mixed financial holding company, registered in the Republic of Latvia in the European Union the financial holding company of the mother or in the Republic of Latvia to the European Union established parent mixed financial holding company, financial and capital market Commission carried out such consolidated supervision of credit institutions, the financial holding company or a mixed financial holding company of the Group's consolidation level. "; to complement the fourth paragraph after the words "financial holding company" with the words "or a mixed financial holding company"; to make a fifth by the following: "(5) If in the Republic of Latvia registered credit institution and at least one Member State of the European Union registered a credit institution the parent company of the same financial holding company or a mixed financial holding company which are not registered in the Republic of Latvia, not in another Member State in which the registered of other credit institutions, financial and capital market Commission carried out supervision on a consolidated basis if the Republic of Latvia registered institution is the largest in total assets. Such credit shall be deemed the parent European Union financial holding company or a mixed financial holding company of the mother of the daughter companies. "; Add to sixth after the words "responsible institution" by the words "mixed financial holding company"; to make the seventh and eighth by the following: "(7) the financial holding company or a mixed financial holding company which is the parent company of the credit institution, provided that the credit institution, supervision on a consolidated basis shall be exercised by the financial and capital market Commission, information on their credit and financial institutions, which is a financial holding company or a mixed financial holding company or a subsidiary of the financial holding company or a mixed financial holding company has a presence. (8) credit institutions consolidated supervision of financial holding company or a mixed financial holding company consolidation at group level does not mean that the financial and capital market Commission individually monitored the financial holding company or a mixed financial holding company, but financial holding company or a mixed financial holding company shall ensure that the Republic of Latvia registered financial holding company registered in Latvia or mixed financial holding company Chairman of the Board and the members of the Management Board shall meet the same requirements and to apply the same limits for credit institutions to the Chairman of the Management Board and the Executive Board respectively in article 24 of this law in the first and second paragraphs of article 25 in the first subparagraph. "; to complement the ninth subparagraph following the words "parent credit institution of another Member State" by the words "other Member parent mixed financial holding company"; Add to tenth after the word "credit" by the words "mixed financial holding company". 12. in article 112.3: Add to the introductory part of the first subparagraph following the words ' established in the Republic of Latvia in the European Union the financial holding company of the mother daughter company "with the words" or registered in the Republic of Latvia in the European Union's parent mixed financial holding company subsidiary "; to complement the second paragraph after the words "the European Union's parent credit institution and its subsidiaries" with the words "established in the Republic of Latvia in the European Union's parent mixed financial holding company and its subsidiaries"; to complement the seventh subparagraph following the words "parent credit institution of the European Union" by the words "European Union parent mixed financial holding company". 13. in article: 112.4 to supplement the first subparagraph following the words ' established in the Republic of Latvia in the European Union of the parent credit institution subsidiaries "with the words" established in the Republic of Latvia in the European Union's parent mixed financial holding company subsidiaries "; Supplement third and sixth after the words "the Republic of Latvia to the European Union established the parent credit institution" with the words "established in the Republic of Latvia to the European Union for financial holding company parent mixed"; Add to tenth after the words "parent credit institution of the European Union" by the words "European Union parent mixed financial holding company". 14. in article: 112.7 to make the first part of paragraph 1 by the following: "1) consolidation group legal, regulatory and organisational structure, indicating the consolidation group of the regulated company within, without regulated subsidiaries and affiliates and any of the parent company, as well as information about this law, article 14, first paragraph, point 2 and 3, article, article 50.9 34.1 seventh part requirements and for the consolidation of the regulated company in the group supervision institutions;" to complement the second subparagraph following the words ' established in the Republic of Latvia in the European Union of the parent credit institution subsidiaries "with the words" established in the Republic of Latvia in the European Union's parent mixed financial holding company subsidiaries "; adding to the third paragraph after the words "other European Union Member State of the parent credit institution" with the words "other European Union Member State of the parent mixed financial holding company". 15. Replace article 112.9, first and second paragraph, the words "mixed financial holding company" (the fold) with the words "a mixed holding company" (the fold). 16. in article: 112.10 to supplement the first subparagraph following the words "financial holding company" by the words "mixed holdings"; adding to the third paragraph after the words "financial holding company" by the words "mixed financial holding company". 17. in article: 112.11 to supplement the first subparagraph following the words "financial holding company" by the words "mixed financial holding company"; make the third paragraph as follows: "(3) if the financial and capital market Commission performs the supervision of credit institutions, which is a financial holding company or a mixed financial holding company of the subsidiaries of the financial holding company, supervision or mixed financial holding company consolidation at group level, financial and capital market Commission prepare such a financial holding company or a mixed financial holding company list and sends it to the other Member States ' supervisory bodies, the European banking authority and the European Commission." 18. the express article following 112.12:112.12 "article. (1) If it is necessary to check the veracity of the information that, when carrying out supervision on a consolidated basis, financial and capital market Commission received about registered in another Member State of the credit institution, financial institution, financial holding company, a mixed financial holding company, a mixed holding company or of credit institutions, financial holding company, financial holding companies and mixed a mixed holding company subsidiaries, financial and capital market Commission shall send the Member State concerned at the request of the supervisory authority to check the veracity of the information received. (2) the financial and capital market Commission is empowered to carry out checks in the Republic of Latvia established credit institution, financial institution, financial holding company, a mixed holding company, a financial holding company or a mixed financial holding company of the credit institution, a financial holding company and mixed mixed holding company subsidiaries, based on other national supervisory authority to check the veracity of the information that the Member State is received by the institution of supervision on the companies, carrying out supervision on a consolidated basis, or authorize such surveillance authority of that Member State. Where a management authority of the Member State concerned does not take the examination itself, it can participate in the financial and capital market Commission's investigation. " 19. in article: 112.13 to supplement the first subparagraph following the words ' established in the Republic of Latvia on financial holding company "with the words" a mixed holding company "; Add to the second paragraph after the words "financial holding company" by the words "mixed holding company". 20. Supplement article 112.14 first and third paragraph after the words "foreign credit institution" by the words "mixed financial holding company". 21. Make the text in the article 131.1 as follows: "The credit administrator credit bankruptcy process can be physical persons who acquired the insolvency practitioner's certificate." 22. Make the second paragraph of article 132.1 as follows: "(2) the Administrator may perform a credit at the administrator's or liquidator's duties in insolvency and liquidation only one process." 23. Article 135 of the expression as follows: "article 135. (1) in the event of liquidation of the credit institution, if the liquidation is carried out on the basis of article 126 of this law in the first part of paragraph 1, remuneration of the liquidator determines credit shareholders ' meeting. (2) if the liquidation shall be carried out in accordance with the Court ruling, the liquidator and the liquidator's remuneration the total proportion of the Assistant shall be: 1) 2 percent of the creditors to be paid shall be the amount of money, to the claims of creditors are satisfied 30 percent of the total amount of the claims of creditors of the credit institution, if the creditors ' meeting with the liquidator has not agreed on the amount of other compensation; 2) 3 per cent of the creditors to be paid shall be the amount of money that exceeds 30 percent of the total amount of the claims of creditors of the credit institution, to the claims of creditors are satisfied 60 percent of the total amount of the claims of creditors of the credit institution, if the creditors ' meeting with the liquidator has not agreed on the amount of other compensation; 3) 4 percent of the creditors to be paid shall be the amount of money that exceeds 60 percent of the total amount of the claims of creditors of the credit institution, to the claims of creditors are satisfied of the 75 percent of the total amount of the claims of creditors of the credit institution, if the creditors ' meeting with the liquidator has not agreed on the amount of other compensation; 4) 5 percent of the creditors to be paid shall be the amount of money that exceeds 75 percent of the total amount of the claims of creditors of the credit institution, if the creditors ' meeting with the liquidator has not agreed on the amount of other compensation. (3) in respect of the money recovered in legal proceedings, in the second paragraph of this article, remuneration is laid down on the complexity of the coefficient 1.25 in remuneration payable in proportion to the part of the common legal proceedings to recover the resources. (4) in respect of the money recovered in legal proceedings, recognizing the interests of the credit institution, contrary to the conclusion of a transaction void or voidable, the second part of this article, remuneration is laid down in the appropriate coefficient of 1.5 the remuneration due the complexity of the parts, which correspond to the proportion of total legal proceedings to recover the resources. (5) If a winding up pursuant to a court order, no cash is not paid out to creditors and law mentioned in article 138 of the conditions on the liquidator's activities until a decision on the commencement of bankruptcy proceedings of a credit institution, the liquidator's and Assistant to the liquidator the total lump-sum compensation of 10 minimum monthly wages. (6) the liquidator shall bear the expenses for the consideration of article 161 of this Act, the fourth part 19. persons referred to in paragraph 1, and the other with liquidation expenses other than those referred to in this law, article 134, second paragraph, if the creditors ' meeting with the liquidator has not agreed on other arrangements for cover. (7) the winding-up process, the convening of the meeting of creditors and decision-making on the issues referred to in this article, the liquidator shall be provided in accordance with this law, article 179.2 of the second and third subparagraphs article 179.3, 179.4, the first paragraph of article 6 paragraph 1 and paragraph 5, article, 179.5, 179.7 179.6 article to the second and fourth, 179.8 179.9 article and article. " 24. the express article 153 (2) of the following: "2) the remuneration paid to the employee from the date of the decision on the recognition of the insolvent credit institution, until the day when a decision on the commencement of bankruptcy proceedings of a credit institution, and the severance pay payable;". 25. Turn off 154. the third paragraph of article. 26. Article 156: turn off in the first paragraph, the words "or the name of a legal person, if the administrator appointed by the legal person"; to turn off the second paragraph, the words "or on the administrator appointed to authorized legal entities natural persons photos, name". 27. To exclude article 159, 160 in the first paragraph of article 2 of the second paragraph and in paragraph 186 of the second paragraph of article 3, the words in brackets "(the name and the authorized representative's name, if the administrator is a legal person)". 28. the fourth paragraph of article 161: express the following in paragraph 9: "9) to hire and fire employees, including those who are recruited before the insolvency proceedings, applying the statutory time limit for termination of the contract of employment, as well as rules on collective redundancies. If the employee has entered into a collective agreement, the administrator has the right not to apply the provisions of the contract notice, the notice including related costs. The decision not to apply the specified labor laws and collective agreements concluded by the rules of the administrator's responsibility to assess the usefulness of such a decision; " Supplement parts 19 and 20 with the following: "19) invite specialists to receive accounting, audit and legal services, as well as ensure the interests of the credit institution or the administrator's representation in the public administration and the judiciary, and get other services that are necessary to ensure the efficient conduct of the insolvency proceedings; 20) to convene a meeting of creditors to consider the question of the administrator and the administrator Assistant total proportional remuneration and other insolvency proceedings related to the determination of the amount of costs and expenses. " 29. Article 166 of the expression as follows: "article 166. (1) the Administrator and administrative assistant in proportion to the total amount of the consideration are: 1) the 2 percent of the creditors to be paid shall be the amount of money, to the claims of creditors are satisfied 30 percent of the total amount of the claims of creditors of the credit institution, if the creditors ' meeting with administrators not negotiated on a different amount of remuneration; 2) 3 per cent of the creditors to be paid shall be the amount of money that exceeds 30 percent of the total amount of the claims of creditors of the credit institution, to the claims of creditors are satisfied 60 percent of the total amount of the claims of creditors of the credit institution, if the creditors ' meeting with administrators not negotiated on a different amount of remuneration; 3) 4 percent of the creditors to be paid shall be the amount of money that exceeds 60 percent of the total amount of the claims of creditors of the credit institution, to the claims of creditors are satisfied of the 75 percent of the total amount of the claims of creditors of the credit institution, if the creditors ' meeting with administrators not negotiated on a different amount of remuneration; 4) 5 percent of the creditors to be paid shall be the amount of money that exceeds 75 percent of the total amount of the claims of creditors of the credit institution, if the creditors ' meeting with administrators are not agreed on the amount of other compensation. (2) in respect of the money recovered in legal proceedings, the first part of this article, remuneration is laid down in the appropriate factor of complexity in the remuneration payable 1.25 in proportion to meet common legal proceedings to recover the resources. (3) in respect of the money recovered in legal proceedings, recognizing the interests of the credit institution, contrary to the conclusion of a transaction void or voidable, the first part of this article, remuneration is laid down in the appropriate coefficient of 1.5 the remuneration due the complexity of the parts, which correspond to the proportion of total legal proceedings to recover the resources. (4) in the first subparagraph of this article, determine the total paid to the creditors the amount of money calculated on the amount of funds obtained, the insolvency process, recovery of property or selling off the assets of the credit institution, reducing article 153 of this Act specified in the insolvency costs (except for the remuneration of the insolvency administrator). Of the estimated funds to be paid to the creditors the amount before payment report administrator and administrative assistant for the determined proportional compensation. (5) the Administrator and administrative assistant receives a fixed remuneration in such cases and the total amount in the following: 1) from the date of the appointment of the administrator in insolvency proceedings — a one-time reward of 10 minimum monthly wages; 2) until the completion of the bankruptcy proceedings, if any money is paid to the creditor, the one-time compensation for — the amount of administrator and financial and capital market Commission is mutually agreed by the conclusion of the written contract, but the maximum amount shall not exceed 50 minimum monthly salary; 3) in the case of the restoration of 20 minimum monthly wages; 4) in the case of insolvency process terminated due to solvency restoration, if solvency restored,-a one-time compensation the amount of which the meeting of creditors agreed with the administrator. (6) calculation of the administrator and the administrator Assistant total proportional remuneration, it shall be reduced in accordance with the fifth subparagraph of this article, the calculated amount of the fixed remuneration. (7) the Administrator shall bear the expenses for the consideration of article 161 of this Act, the fourth part 19. persons referred to in point and other insolvency-related expenses other than those referred to in article 153 of this Act, if a creditor's meeting with administrators not agreed on other arrangements for cover. (8) the convening of a meeting of creditors and decide on issues referred to in this article are provided in accordance with this law, article 179.2 of the second and third subparagraphs, article 179.3, 179.4 of the first paragraph of article 1 and paragraph 5, second subparagraph, and article, 179.5, 179.7 179.6 article article article article 179.8 179.9 and. " 30. Make 167. the first paragraph of article 6 paragraph 4 by the following: "4) administrator in the event of death." 31. Add to the first paragraph of article 179.4 with paragraph 5 by the following: "5) agreed with the administrator or liquidator of the administrator's or liquidator's total remuneration and other proportional to the insolvency or winding-up proceedings related to the determination of the amount of costs and expenses." 32. the transitional provisions be supplemented with 52, 53 and 54 of the following paragraph: "this law article 52.100.1 in relation to credit institutions, the financial and capital market Commission for financing its operations enter into force simultaneously with the amendments concerned financial and capital market Commission Act. 53. the amendment to article 1 of this law and paragraph 42 41, article 135, paragraph 2 of article 153, 161 in the fourth paragraph of article 9, 19 and 20 and 166 in the article are not applicable to the credit institution's insolvency and liquidation proceedings initiated before the entry into force of the amendments concerned. 54. with regard to the choice of the credit institution's administrator in insolvency proceedings initiated to 131.1 article for the entry into force of the amendments (the new version of the article), the applicable rules of law which was in force on the date of appointment of an administrator, except when the insolvency administrator appointed in the other. " 33. To supplement the informative reference to directives of the European Union with 21 as follows: "21) of the European Parliament and of the Council of 16 November 2011 the 2011 EU Directive/89/, with regard to a financial conglomerate in the supplementary supervision of financial firms amending directives 98/78/EC, 2002/87/EC, 2006/48/EC and 2009/138/EC. ' The law in the Parliament adopted 16 may 2013. The President of the Parliament instead of the President's Āboltiņ 2013 in Riga on June 4.