Amendment Of Payment Services And Electronic Cash Law

Original Language Title: Grozījumi Maksājumu pakalpojumu un elektroniskās naudas likumā

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Read the untranslated law here: https://www.vestnesis.lv/ta/id/230988

The Saeima has adopted and the President promulgated the following laws: the amendment and payment services, electronic money in the law to make payments and electronic money Services Act (Latvian journal 2010, nr. 43; 2011, 52 no) the following amendments: 1. Supplement article 1 to 28 by the following: "28) — the account statement on paper or in electronic form of a document drawn up, which the payment service provider issuing the payment service user and the whole of the period of time a payment account in the movement of funds and payment account balance at the beginning of this period, and in the end. "
2. Add to the second paragraph of article 5.1 with paragraph 4 by the following: "(4)) information on how electronic money institution will ensure this law, the first paragraph of article 38 of the requirements, where the electronic money institution in addition to the issuance of electronic money plans to carry out this law article 36.1 of the business referred to in the first subparagraph."
3. Replace the first paragraph of article 38 paragraph 2, the words "payment institutions" with the word "authorities".
4. To supplement the law with article 44.1 the following: ' article 44.1. (1) opening and closing a legal person-resident of the Republic of Latvia, as well as non-resident permanent representation of Latvia – payment of accounts, payment service providers, laid down in article 2 of this law, other parts 3, 4 and 7, is obliged to provide to the State revenue service, the following information: the name of the customer (business), the unified registration code, account number and currency. The procedure and the period within which the payment service provider shall provide the information to the State revenue service for legal entities – residents of Latvia, as well as non-resident permanent representation of Latvia — open and closed accounts, payment is determined by the Cabinet of Ministers.
(2) this law, article 2, paragraph 1 of the second paragraph in the payment service provider of the information referred to in this article, the State revenue service provided according to the provisions of the law of credit institutions. "
5. Replace article 70, second paragraph, the word "person" with the word "recipient".
6. To supplement the law with article 70.1 of the following: ' article 70.1. Standard contract may include a condition that the payment service provider of the payment service user on demand or at a fixed period after the agreement to provide or make available to the account statement information, indicating the manner in which the statement is to be provided, including enabling you to save this information and update the unchanged. "
7. Make the article 87 sixth as follows: "(6) in respect of the taxpayer, the consumer the consumer protection law does not apply to this article, provided for in the first subparagraph, the amount of the taxpayer's liability if the loss incurred in connection with unauthorized charges on his credit card theft or other unlawful usurpation."
8. To supplement the law with article 57.2 of the following: ' article 57.2. (1) users of payment services — legal persons — execution of payment order the partial or total suspension, as well as focusing on the recovery of personal funds of a payment service provider established in this law, article 2, second paragraph, 3, 4, and 7, authority on open payment is to be made in the accounts at the request of the State revenue service's law "on the State revenue service," and the law "About taxes and duties" in the cases.
(2) the payment service user — legal persons — payment order execution (current operations) the partial or total suspension, as well as focusing on the recovery of funds that person to this law, article 2, paragraph 1, second subparagraph, the payment service provider in a specific institution in the payment account to be made according to the provisions of the law of credit institutions. "
9. transitional provisions be supplemented with 10, 11 and 12 of the following paragraph: "the law 10, the first part of article 44.1 shall enter into force on 1 august 2011, but the first part of article 57.2-July 1, 2011.
11. The Cabinet of Ministers no later than July 31, 2011 manages this law, the provisions referred to in article 44.1.
12. Payment service providers, which are laid down in article 2 of this law the second part 3., 4. and in paragraph 7, it is the duty of the Cabinet in the order and within a time limit to submit information to the State revenue service for legal entities – residents of Latvia, as well as non-resident permanent representation of Latvia — payment of accounts that are open and not closed before the law article 44.1 of the date of its entry into force. "
The Parliament adopted the law of 12 May 2011.
President Valdis Zatlers in Riga V 2011 June 1.