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: https://www.vestnesis.lv/ta/id/246387

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). the following amendments: 1. To complement article 8 with 7.1 part as follows: "(71) If a decision is taken on the issue of the licence, the financial and capital market Commission shall inform the European insurance and occupational pensions authority." 2. Supplement article 11.1 parts 8.3 as follows: ' (111) in the financial and capital market Commission is entitled to request for the pension funds, which receive from the provider of outsourcing outsourcing, outsourcing contract terminated immediately, if the financial and capital market Commission finds that any of this is the eleventh subparagraph of article. " 3. Add to article 10 of the sixth subparagraph, the first sentence after the words "in which the employer" with the word "and". 4. Make article 13, third subparagraph by the following: "(3) whenever a request to terminate the collective membership agreement and transfer the accrued funds to another pension fund shall submit to the employer that this means the pension fund contributions in your employee benefit, such a transfer may only be made with the financial and capital market Commission approval." 5. Article 20: Supplement to the article 4.1 and 4.2 part as follows: "(5) the funds Manager, managing the pension plan features, in addition to the requirements laid down in this Act respected investment management companies regulatory legislation relating to investment management responsibilities by providing the public administration services, due diligence compliance management service, the best results and business orders. (42) the application of this article in part 4.1, the pension plan is an investment in the fund prospectus or fund management rules. Pension plan investment policy and investment restrictions contained in it can be assimilated to investment fund prospectus or fund management regulations of specific investment policy and investment restrictions investment management company within the meaning of the law. "; to complement the ninth part of paragraph 4 by the following: "4) pension fund the right to the funds Manager after receiving the written request to immediately terminate the contract for the management of the funds." Add to article 10 by the following: "(10) the financial and capital market Commission is entitled to request that the Pension Fund will terminate the contract with the management, if the financial and capital market Commission finds that funds Manager does not follow this law, or the financial and capital market Commission's regulatory rules. In the case referred to in the financial and capital market Commission, in making its decision, is entitled to impose pension fund conditions new management. " 6. in article 21: the sixth part expressed as follows: "(6) Means the holder of the follow up on whether the funds Manager comply with this law and other legislative requirements on pension plan investments and financial and capital market Commission registered pension plan, as well as investment (investment). If the Manager does not follow this part of the first sentence of the above requirements and regulations, the holder of the funds report on the financial and capital market Commission and the Pension Fund. '; adding to the seventh paragraph by paragraph 5 by the following: "5) pension fund the right to the holder of the funds after the receipt of the written request to immediately terminate the contract on the holding of funds." Supplement to the eighth article as follows: "(8) the financial and capital market Commission is entitled to request that the Pension Fund will terminate the contract with the holder of the funds if the financial and capital market Commission finds that the holder of the funds do not comply with this Act or the financial and capital market Commission's regulatory rules. In the case referred to in the financial and capital market Commission, in making its decision, is entitled to impose conditions for the new pension fund holders funds. " 7. Express article 23 5.1 part as follows: "(51) at least 70 per cent of pension plan investments carried out in the third paragraph of this article referred to the investment objects that are included in the regulated market of the Member States, to official listing or are admitted to the Organization for economic cooperation and development Member States, international stock exchange stock exchange Federation full membership (members) — official list or the other regulated and publicly available financial instruments markets. This part of the restrictions do not apply to the third paragraph of this article 7 and 9 mentioned in paragraph investment objects. " 8. in article 28: adding to 5.2 part after the word "provided" by the words "European insurance and occupational pensions authority and the"; Supplement 5.3 part with the sentence the following wording: "If a decision on the suspension of the licence, the financial and capital market Commission shall inform the European insurance and occupational pensions authority." 9. Supplement article 31, third paragraph, the words "and inform the European insurance and occupational pensions authority of the Member State in which the Pension Fund plans to accept contributions for the provision of occupational retirement provision '. 10. transitional provisions be supplemented with paragraph 15 as follows: "15. Pension funds, to which article 20 of this law, the ninth and the seventh subparagraph of article 21 (for the minimum information to be included in the treaties) on the entry into force of the amendments have entered into a contract for the management of the funds and the funds hold, take the necessary measures to enable the Treaty provisions in six months after the 20 of this law and article 21, the date of entry into force of amendments to meet the requirements laid down in this law." 11. Add to the informative reference to European Union directive in paragraph 6 by the following: ' 6) the European Parliament and of the Council of 24 November 2010, the EU directive 2010/78/amending Directive 98/26/EC, 2002/87/EC, 2003/6/EC, 2003/41/EC, 2003/71/EC, 2004/39/EC, 2004/109/EC, 2005/60/EC, 2006/48/EC, 2006/49/EC, and 2009/65/EC in respect of the European supervisory authority (European banking authority) European supervisory authority (European insurance and occupational pensions authority) and the European supervisory authority (European Securities and markets authority) powers. " The Parliament adopted the law of 22 March of 2012.
The President a. Smith in 2012 on April 11.