Read the untranslated law here: https://www.vestnesis.lv/ta/id/199747
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., no. 17) the following amendments: 1. Supplement article 1 to 59 by the following: ' 59) subordinated liabilities — liabilities that arise from the loan to the bank (regardless of the kind of sealed the deal) and that, on the basis of contracts concluded with the bank, the lender gives the right to reclaim the loan before the deadline, only the bank in the event of insolvency or liquidation, and only after the claims of all other creditors have been met, but before shareholders ' recovery. "
2. Add to article 11 with 1.1 part as follows: "(11) the financial and capital market Commission, the evaluation of the bank's shareholders compliance with the requirements of this law and article 15 of the Act referred to in paragraph 1, the information contained in the documents, the licence (permit) is entitled to impose the bank's activities, including the provision of financial services."
3. in article 59.2: Supplement to article 1.1 part as follows: "(11) to the business of the credit institution, the financial services agreement, the transition does not apply article 20 of the Law the provisions of the first paragraph of the traitor and the company's joint and several liability of the acquirer. ';
Add to the second part of the text by the following: "including the consent of the credit company or its parts constituting the validity of the connection between these people and the company, as well as the transfer of the undertaking, the existence of existing blakussaistīb moment when one credit company transition proposal provides otherwise. ';
Add to article 2.1 part as follows: "(21) credit in the event of transfers of undertakings reporting for credit institutions corporate acquirer on the credit institution's creditors, customers or other persons with whom the contract concluded in the form of marketable credit company or part of it, is not considered to be a statutory requirement is not respected."
4. To supplement the law with articles 37.0 follows: 37.0 "article. (1) if the bank according to the legislation on commercial support for receiving such support from the business of granting of the aid to the business end of the support the bank is prohibited from attending to subordinated liabilities, including prohibited to repay the loan, calculate, collect, or pay the interest on such loans and other rewards.
(2) if the financial and capital market Commission has determined the bank deposit limits of deposit restrictions date to the following day of deregulation, the bank is prohibited from attending to subordinated liabilities, including prohibited to repay the loan, calculate, collect, or pay the interest on such loans and other rewards.
(3) if the subordinated liabilities the bank occurs after business support award or after deposit restrictions, then the date of the first and second part of the discharge, the ban does not apply. "
5. Supplement article 114 with 2.1 part as follows: "(21) in the second subparagraph the period for which the bank provides commercial support, can be extended to support commercial activities."
6. transitional provisions be supplemented with 36 as follows: "36. This law article 37.0 first and second part of the prohibitions do not apply to the bank before this law entered into force according to the legislation on commercial support is provided in support of the business or have specific deposit restrictions."
The law shall enter into force on the day following its promulgation.
The Parliament adopted the law of 22 October.
President Valdis Zatlers in Riga V 2009 October 28 Editorial Note: the law shall enter into force on 29 October 2009.
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