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/ta/id/207393

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, nr. 23) the amendments are as follows: 1. Article 1: make 4 of point "c" and "d" paragraph by the following: "(c)) payment services, (d)) with the provision of payment services related to non-cash means of payment and release of service;";
Add to paragraph 38, the words "(alone or in combination with other means of payment)" with the words "or the payment instrument";
the express 54 as follows: "the claims and liabilities 54) delete: claims and liabilities mutual claims thereof or in one that is built only one requirement and only one executable;";
put 58 as follows: "58) certificate: according to the regulations issued a document that certifies the qualification of the administrators and give him the right to perform administrator duties in the legal protection process and insolvency process;".
2. Add to article 8 to the third paragraph as follows: "(3) the Management Board of the credit institution and the Council is writing to inform the financial and capital market Commission of any circumstances, including suspicious and fraudulent transactions, which may have a significant effect on the stable and regulations appropriate future management of the credit institution and action or which can constitute a relevant risk to the reputation of the credit institution. The credit institution shall inform the financial and capital market Commission for shareholders who have qualifying holdings in the credit institution existing or potential financial difficulties or the impact on the business of credit institutions. "
3. Article 9: turn off the fifth;
express the sixth part as follows: "(6) an electronic money institution that: 1) received by the financial and capital market Commission license (permission), may not provide services or carry out other commercial activities other than issuance of electronic money or means of payment associated with it service, or the provision of payment services;
2) their activities are entitled to make, without the financial and capital market Commission license (permission), may not provide the financial services that are not electronic money issuance or payment instruments associated with it service, or the provision of payment services. "
4. Replace the first paragraph of article 59.2 of the second sentence, the words "made by an expert, which is included in the register of companies on the list approved" with the words "person has carried out, which included property investment list of assessors".
5. Express article 63 of the seventh paragraph as follows: "(7) the State revenue service message request for credit institutions not held izpaužamaj news credit institution is entitled to appeal to the Administrative Court of the administrative procedure law in the order provided for in the application within 10 days of receipt of the request message. The court case as a Court of first instance of three judges within 20 days after the initiation of the proceeding. If the law says any procedural action due date, but by following the relevant procedural act within this time limit, does not follow this part of the second sentence of the deadline, the Court determines the appropriate term for the execution of procedural acts. Administrative District Court judgment is not appealable. "
6. Supplement article 158 with 3.1 and 3.2 part as follows: "(31) full or partial credit and obligations the customer claims and deleting is not allowed in the insolvency proceedings except when: 1) a credit institution and its clients before the insolvency of the credit institution are regularly made one round of claims and the erasure of the commitment;
2) the credit institution's claim had expired prior to the insolvency of the credit institution.
(32) the insolvency of the credit institution is not allowed between the credit institution loan issued by a deposit-delete. "
7. Supplement article 161 of the quarter with 3.1 paragraph by the following: "31) unilaterally to withdraw from the contract if the execution of the credit institution's assets and reduce the contract governing the provision of financial services;".
8. transitional provisions be supplemented with 38 as follows: "38. amendments of the Act 59.2 in the first subparagraph shall enter into force simultaneously with the amendments to the commercial law."
9. Add to the informative reference to European Union directive with the following version of paragraph 13: "13) the European Parliament and of the Council of 13 November 2007 of Directive 2007/64/EC on payment services in the internal market amending Directives 97/7/EC, 2002/65/EC, 2005/60/EC and 2006/48/EC and repealing Directive 97/5/EC".
The law shall enter into force on the day following its promulgation.
The law adopted by the Parliament in March 11, 2010.
The President of the Parliament instead of the President g. Many Riga 2010 31 March