The Saeima has adopted and the President promulgated the following laws: the amendments to the insurance companies and the supervisory law to make insurance companies and supervision Act (Republic of Latvia Saeima and the Cabinet of Ministers rapporteur, 1998, no. 15; 1999, no. 10; 2000, no. 13; 2002; 2003, 12 No No 9; 2004, nr. 2, 14) as follows: 1. Replace the words "throughout the Statute of the insurance supervisory authority" (the fold) with the words "management authority" of the insurer (the fold).
2. in article 1: to replace in paragraph 3, the words "in the commercial is" with the words "established in the Republic of Latvia";
replace 4 and paragraph 15, the words "registered insurer that" with the words "registered person";
make paragraph 5 by the following: "5) the main actuarial: insurance companies or officials of the Member State of the branch of the insurer, which estimates the insurance concluded and accepted reinsurance contracts and insurance companies or non-Member State of the branch of the insurer financial strength;"
make the following point 19:19) "person associated with the insurer — people who meet any of the following signs: a) insurer in persons who have a significant interest and the natural persons — — spouses, parents and children, (b) the insurer's subsidiaries), as well as commercial companies, in which the insurer has a significant impact, (c) and of the Management Board of the insurer) Council members, d) in which this paragraph, company" a "," b "and" c "individuals mentioned in points is a significant interest;"
Replace paragraph 21, the words "number" with the words "or";
Add to paragraph 22, after the word "take" with the word "foreign";
turn off paragraph 23;
to supplement the article with 33, 34, 35, 36, 37, 38, 39 and 40 as follows: "33) insurance holding company, the parent company, which is not an insurance company, insurer, reinsurer or foreign, and the main activity of which is to acquire and hold participation in the subsidiary, if these subsidiaries are: (a)) only insurance companies, reinsurers or foreign insurers, of which at least one is a Member State of insurance company or insurer , b) mostly (insurance companies, reinsurers and insurers of foreign assets or income, the total of the last approved annual report contains more than half of all its controlled subsidiaries assets or income totals) insurance companies, reinsurers or foreign insurers, of which at least one is a Member State of the insurance undertaking or the insurer;
34) multidisciplinary insurance holding company, the parent company, which is not an insurance company, a foreign reinsurer, insurer or insurance holding company, but that at least one of the subsidiary companies are insurance companies of a Member State, or the insurer;
35) membership company — the parent company of the company, or which directly or by way of control acquired 20 percent or more of the voting rights in a company, or directly or by way of control acquired the company participation, which covers 20 percent of the share capital and over or voting shares;
36) related company, subsidiary company or company in which, directly or by way of control have produced 20 or more percent of the voting rights or direct or by way of control for participation, which covers 20 percent of the share capital and over or voting shares;
37) international rating agency in the Member State or the Organisation for economic cooperation and development in a Member State (hereinafter referred to as OECD Member State) registered a rating agency that provides assessment of the financial and capital market participants and the financial security which recognises Member States ' assessments of the management authority of the insurer;
38) Member State of the branch, the Member State in which the insurance company, the Member State or the Member State of the insurer the insurer shall insure the affiliate that risk;
39) outsourcing: a person who, on the basis of a written contract with an insurance company or an affiliate of a member insurer, undertakes to provide or provides the insurance company or insurer's branch of a Member State not to outsource;
40) free capital — the assets belonging to the person that the context of this person's reduced value and the value of the assets that are to be considered as a long-term investment. "
3. Supplement article 2, third paragraph, after the word "insolvency" by the words "in so far as it is not contrary to this Act".
4. Make article 3 by the following: ' article 3. (1) this law shall not apply to: 1) State social insurance;
2) the State-guaranteed export credit insurance transactions;
3) service, operation, warranty repair and other similar services that the person providing natural and legal persons that are not insurers;
4) natural and legal persons of the country of the services provided or the breakage of the vehicle in case of emergency: (a) a breakdown of the vehicle, in place of) the service, (b)) to the nearest vehicle to arrive at the place where you can perform the repair, as well as to the delivery by the driver and passengers to the nearest location from where they may continue using other means of transport, c) vehicle, the driver and passenger into the territory of the Republic of Latvia on the driver's or passenger's place of residence or place from which they had gone their way, or to the destination;
5) different members of automot Club services, if assistance or breakage of the vehicle in the case of transport provides the automot clubs in the country in which they are located, and between such clubs have concluded automot cooperation agreement.
(2) the requirements of this Act do not apply: 1) mutual insurance cooperative associations, which cover only this law, article 12, first paragraph, 1., 2., 3., 4., 5., 6., 7., 8., 9, 16, 17 and 18 in those classes, if they fully comply with the following conditions: (a)) capability is provided for the statutes require a mutual cooperative society members to make additional contributions, or to reduce their claims payable under the insurance contracts concluded (b)) insurance premiums and mutual cooperative society members in addition to the amount of contributions made in a year shall not exceed the equivalent of five million euros, expressed in the following Bank of Latvia exchange rate c) civil liability insurance risk is not included as this law 12.1 any referred to in article;
2) mutual insurance cooperative associations, which cover this law, article 12, first paragraph, point 19 referred to in the insurance, if they fully comply with the following conditions: (a)) capability is provided for the statutes require a mutual cooperative society members to make additional contributions or reducing their benefits or public assistance from other persons who commit these mutual co-operative society on behalf of the members of the three review, b) consecutive years insurance premiums and mutual cooperative association in addition to contributions made up to year five million euros equivalent in lats, recalculated following the Bank of Latvia exchange rate;
3) commercial companies that provide services, providing assistance to persons in the territory of the Republic of Latvia, and that total income from the provision of services shall not exceed the equivalent of 200 000 euro per year, expressed in LCY by Bank of Latvia exchange rate.
(3) the first subparagraph of this article referred to in paragraph 4 shall be considered as insurance services when provided the insurer in accordance with the concluded insurance contracts.
(4) the financial and capital market Commission not make mutual insurance cooperative society, if the mutual insurance cooperatives Association adhere to the second paragraph of article 1 and paragraph 2. If these requirements are not met, the society of mutual insurance cooperatives must receive a license for insurance. "
5. in article 4, first paragraph: turn off the second sentence, the words "voluntary insurance";
replace the third sentence, the word "the" with the words "Insurers insurance companies or non-Member State of the branch of the insurer".
6. Replace 5., 19., 23., 24.9, 55, 63 and 74 60.1, in the article the word "insurer" (fold) with the words "insurance company or insurer of the Member State of the branch" (the fold).
7. To supplement the law with article 6.1 as follows: "article 6.1. Insurance services to insurers and a member insurer may not use the services of insurance intermediaries who are not registered for insurance (reinsurance) intermediary. "
8. in article 7:

replace the introductory part of the first subparagraph, the word "insurer" with the words "insurance company or insurer of the Member State of the branch";
Add to paragraph 2, first subparagraph, first sentence, after the words "Member States" with the words "to the insurer without the insurer to the Member State";
replace the second and third paragraph, the words "the insurer" (fold) with the words "insurance Merchant" (fold);
to supplement the article with the fourth paragraph as follows: "(4) an insurance undertaking or a branch of an insurer of a Member State may not issue debt securities and borrowing. This limitation does not apply to loans that are included in the insurance company or the Member State of the branch of the insurer in the calculation of own funds, and loans, with a maturity of three months, if these loans take to ensure insurance claims (which cost insurers adopted decision) costs, and timely before the sampling matched with the financial and capital market Commission. "
9. Article 8: replace the first part of the text, the word "insurer" with the words "insurance company or insurer of the Member State of the branch";
replace the second paragraph, the words "the insurer that received" with the words "insurance company or insurer of the Member State of the branch, which received";
to supplement the article with the third part as follows: "(3) an insurance company or an affiliate of the insurer, the Member State which received the license for life insurance, insurance premium or other insurance contract amount is calculated using the aktuārmatemātik method. License life insurance include the right to carry such insurance: 1), which provides insurance claims cost to the person specified in the contract in the cases specified in the agreement relating to the insured's life, health or physical condition, as well as in cases when the insured person died, or if the marriage was born the insured child or the deadline laid down in the Treaty or the insured's age;
2) insurance that provides for the cost of the insurance indemnity in the cases laid down in the Treaty, regular payments to the insured's death or the contractual deadline;
3) insurance, which provides the insurance company or insurer of the Member State of the branch not commitments at the end of the period of insurance for one-off or periodic payments of insurance premiums;
4) market linked this part 1, 2 and 3 above. "
10. Add to chapter I with 8.1, 8.2, 8.3, 8.4 and 8.5 article as follows: "article 8.1. Economic operators and Member State of insurance of the insurer's affiliates that carry insurance in the Republic of Latvia has the right to advertise that the insurance services in the territory of the Republic of Latvia. Insurance companies have the right to advertise services that insurance in the Member State (country) in which the insurance undertaking has a branch or in the open, it provides insurance services, respecting the principle of freedom to provide services.
Article 8.2. (1) the insurer before the insurance contract shall inform the policyholder of your home (registration) the State and the legal address.
(2) all documents that are issued to the policyholder, specifies the first part of this article, the information specified.
(3) the first and second parts of the requirements do not apply to high risk insurance.
8.3 article. (1) actions (outsourcing), required for insurance companies or non-Member State of the branch of the insurer and insurance, insurance company, or a subsidiary of the insurer is not a Member State may delegate to one or more of the outsourcing providers. Insurance company or insurer of the Member State of the branch may not delegate: 1) insurance companies or non-Member State of the branch of the insurer to the obligations of the administrative organ;
2) guarantees and other obligations of the issuing of the law under which an insurance company or an affiliate of a member insurer assumed the obligation to reply to the creditor on a third party debt;
3) outsourcing providers all outsourcing, which provides insurance for the licence allowed the insurance.
(2) an insurance company or an affiliate of the insurer of the Member State providing the outsourcing may delegate such outsourcing provider with at least three years of experience in providing outsourcing, which the insurance company or insurer of the Member State of the branch plans to delegate the outsourcing provider.
(3) outsourcing, for which, in accordance with the procedure laid down in this article before it outsourcing provider shall be informed of the financial and capital market Commission are: 1) the insurance company or the Member State of the branch of the insurer sort of accounting;
2) information technology maintenance;
3 internal control organisation);
4) investment;
5) insurance underwriting, reinsurance, except the cast;
6) settlement of claims.
(4) an insurance company or insurer of the Member State of a branch of the internal audit service's responsibilities may be delegated only sworn auditor or certified auditor company.
(5) at least 30 days before the date of the receipt of the outsourcing insurance company or insurer shall submit to the Member State of the branch financial and capital market Commission a reasoned written application, adding a document containing the outsourcing policy and procedure of receipt, and one of the original contract outsourcing or a certified copy thereof. If receipt of the outsourcing policy and procedure are amended, the insurance company or insurer of the Member State of the branch they shall be submitted to the financial and capital market Commission not later than the next working day after the approval of the amendment.
8.4 article. (1) this law, in the third paragraph of article 8.3 specific outsourcing agreement specifies: 1) in the description of the receivable outsourcing;
2) and outsourcing of the precise quality requirements;
3) insurance company or insurer of the Member State of the branch and outsourcing provider rights and responsibilities, including: (a) an insurance company or not) in the Member State of the branch of the insurer the right to continuously monitor the quality of the provision of outsourcing, b) insurance companies or non-Member State of the branch of the insurer the right outsourcing provider given required executable instructions related to the outsourcing of good faith, high-quality, timely and relevant laws and regulations, the execution of c) insurance companies or non-Member State of the branch of the insurer the right outsourcing provider submit reasoned written request to immediately terminate the outsourcing contract If an insurance company or an affiliate of a member insurer found that outsourcing providers comply with the outsourcing contract or laid down in the quality requirements, d) outsourcing provider's obligation to ensure insurance companies or non-Member State of the branch of the insurer the ability to outsource the provision of quality monitoring, e) outsourcing duties immediately after the insurance company or the Member State of the branch of the insurer a written request to terminate the outsourcing contracts;
4) financial and capital market Commission's right to consult all documents and registers of the accounting document and request from the external service provider any information related to outsourcing and financial and capital market Commission's functions.
(2) an insurance company or an affiliate of the insurer of the Member State in question of outsourcing the development of policies and procedures on receipt. It determines: 1) internal order in which decisions are taken on outsourcing;
2) outsourced contract, execution monitoring and termination procedures;
3) people (officers and employees) and the Department responsible for liaison with the external service provider and receive the outsourcing and quality monitoring, as well as the rights and obligations of individuals;
4) insurance companies or non-Member State of the branch of the insurer, if the action does not comply with outsourcing or not to carry out the outsourcing contract.
(3) financial and capital market Commission is entitled to make outsourcing provider check its location or outsourced location, consult all documents and registers of accounting documents, make copies, as well as demand from outsourcing provider information related to outsourcing or necessary financial and capital market Commission's functions.

(4) outsourcing provider begins to provide an insurance company or a non-Member State of the branch of the insurer outsourcing, if an insurance company or insurer's branch of the Member State within 30 days of all this law in the fifth subparagraph of article 8.3 of these documents are not received by the date of submission of the financial and capital market Commission's ban on outsourcing.
5.3 article. (1) the financial and capital market Commission prohibits insurance company or insurer of the Member State of the branch to receive the planned outsourcing of the outsourcing provider, if: 1) is not complied with the provisions of this law;
2) outsourced reception may interfere with the policyholder and the insured legal interests;
3) outsourced reception may result in restrictions on insurance companies or non-Member State of the branch of the insurer to make them of regulatory institutions law, insurance companies or non-Member State of the branch of the insurer's statutes or other insurance company or insurer of the Member State of the branch's internal laws and obligations;
4) prevent the receipt or outsourcing will limit the financial and capital market Commission to carry out its statutory functions;
5 outsourcing contract) complies with the law and do not give a true and fair view of the insurance company or insurer of the Member State of the branch and outsourcing provider expected cooperation and outsourcing and quality requirements.
(2) Outsourcing arrival does not relieve the insurance company or an affiliate of a member insurer of liability for legal or contractual obligations.
(3) financial and capital market Commission has the right to demand that an insurance company or a subsidiary of the insurer by the Member State not preventing shortages incurred by receiving outsourcing, and set deadlines for the correction of this deficiency. If the financial and capital market Commission's deadline shortcomings are not remedied, the financial and capital market Commission requires that an insurance company or insurer of the Member State of the branch shall terminate the outsourcing arrangement, and defines its termination date, which may not be longer than three months.
(4) the financial and capital market Commission are entitled to request to the insurance company or insurer of the Member State of the branch shall immediately terminate any existing outsourcing contract if financial and capital market Commission finds that: 1) an insurance company or insurer of a Member State does not carry out outsourced affiliate quality to provide constant supervision or take it sporadically and not enough;
2) insurance company or insurer of the Member State of the branch shall not make the provision of associated with the outsourcing risk management or their insufficient and of poor quality;
3) outsourcing is essential operations deficiencies that threaten or jeopardize the insurance company or the Member State of the branch of the insurer obligations;
4) joined one of the first paragraph of this article.
(5) an insurance company or an affiliate of the insurer of the Member State shall immediately inform the financial and capital market Commission, if an insurance company or an affiliate of a member insurer found that outsourcing provider does not comply with the contractual outsourcing outsourcing volume or quality requirements.
(6) the receipt of the Outsourcing shall not relieve the insurance company or insurer of the affiliate member and its authorities from the obligation to carry out the statutory with the insurance company or insurer of the Member State of a branch of activity-related risk management.
(7) the Outsourcing provider is entitled to delegate the provision of further outsourcing to another person only with insurance companies or non-Member State of the branch of the insurer's written consent. Insurance company or insurer of the Member State of the branch before outsourcing the subdelegation shall inform in writing the financial and capital market Commission and submit it to article 8.3 of the Act referred to in the fifth subparagraph, the documents. On the provision of further outsourcing and delegation of outsourcing the final provider apply this law.
(8) if the financial and capital market Commission issued the administrative act concerning prohibition of the insurance company or insurer's branch of the Member State receiving the outsourcing of the outsourcing provider, on the request of an insurance company or a non-Member State of the branch of the insurer to address deficiencies resulting from outsourcing, receive a request or an insurance company or a non-Member State of the branch of the insurer to immediately stop the outsourcing contract is appealed, the appeal does not suspend the execution. "
11. Supplement article 9 with the third subparagraph by the following: "(3) an insurance company license issued by the insurance is valid for the Member States, with the right to establish a branch or, if they comply with the principle of freedom to provide services, providing insurance services, without having to open the branch."
12. Article 10: make the second paragraph of point 1 "e" paragraph by the following: "(e) no member of the insurer) affiliates have transferred funds of this law article 32 paragraph 3 of part 1.1 in, of which 25 percent is registered in the Republic of Latvia deposited in the credit institution as security";
to make the fourth part of the second sentence as follows: "If a Member State of the branch of the insurer wants to be licensed terrestrial vehicle liability insurance and plans to carry out a land vehicle insurance against civil liability in respect of it shall submit financial and capital market Commission, the written proof that no Member State of the branch of the insurer is the insurer of the vehicle and, where the Office of a member of the guarantee fund, and bank documents, which confirm the single contribution of land vehicles insurance against civil liability in respect of the insurance guarantee fund No Member State and shall inform the insurer of the representatives of the branch name (first name, last name) and a legal address in each Member State, which shall take a decision on the costs of insurance claims, or of the refusal to pay insurance claims, as well as ensure the claims cost. ";
Add to article 4.1 part as follows: "If a Member State (41) branch of the insurer are off or withdraws from the Latvian vehicle insurer Office or the Member State of the Organization, the analogue financial and capital market Commission prohibits a member insurer's branch not to engage in land vehicle insurance against civil liability in respect of.";
replace the sixth subparagraph of paragraph 8, the word "insurer" with the words "not a member insurer".
13. Article 11: make the third paragraph as follows: "(3) the financial and capital market Commission within three months after all the second part of this disclosure, inform the Member State of the branch of the insurer and insurance supervisory bodies of the company, including a statement certifying that the insurance company's solvency requirements of the Executive, except in paragraph 3.1 of this article.";
Add to article 3.1 part as follows: "(31) the financial and capital market Commission referred to in the third subparagraph the Member State does not send the information to the insurer's management authority in the following cases: 1) insurance companies filed documents containing false or incomplete information;
2 the organisational structure of the branch) does not allow to provide the Republic of Latvia laws under the supervision of the branch;
3) Branch Manager does not comply with this law, article 20 and 21;
4) company is implemented for the improvement of the financial situation of the plan;
5) financial and capital market Commission are not remedied within the time limit set financial and capital market Commission of irregularities found. "
14. in the fourth subparagraph of article 11.1: turn off paragraph 1;
supplemented with paragraph 8 by the following: ' 8) financial and capital market Commission are not remedied within the time limit set financial and capital market Commission of irregularities found. "
15. in article 11.3: make the fourth paragraph (1) of the following: "1) proof that the insurance company's solvency requirements of execution;"
Add to article 4.1 part as follows: "(41) the financial and capital market Commission in part four of this article, that information is sent by a management authority of the Member State of the insurer in the following cases: 1) insurance companies filed documents containing false or incomplete information;
2) company is implemented for the improvement of the financial situation of the plan;
3) financial and capital market Commission are not remedied within the time limit set financial and capital market Commission of irregularities found. ";
Supplement fifth after the word "State" with the word "insurer".
16. Add to article 11.4 of the third part as follows:

"(3) a member who is entitled to the insurer to provide insurance services in the Republic of Latvia, the Republic of Latvia is bound by laws on the provision of statistical information and the protection of the public interest, as well as this law, 6., 7., 11.2, 11.3, 11.4, article 29.2, VIII, X and XI, and 109.1 Chapter 99.1 article and the provisions of chapter XIV."
17. Supplement article 12 with 2.1 part as follows: "(21) By the insurance company or the Member State of the branch of the insurer's request, get a license, it shall indicate the risks that the insurance company or insurer's branch of a Member State does not wish to insure."
18. Replace the words "in article 12.1, the insurer, which has received the" with the words "insurance company or insurer of the Member State of the branch, which has received".
19. To supplement the law with 12.2 article as follows: "article 12.2. Insurance assistance be considered as insurance that laid down in accordance with the conclusion of the insurance contract the insured shall immediately provide assistance if he has got difficulties foreign travel outside of your home country. Such assistance is a cash payment or the provision of insured services. The insurer, insurance, assistance is entitled to use the services, provided by another person who has personnel and equipment (including a certified medical personnel), necessary to ensure the obligations under insurance contracts in good form in this insurance. "
20. Article 13: replace the first and second paragraphs, the word "insurer" (fold) with the words "insurance company" (the fold);
make the first part of paragraph 4 by the following: "4) list of shareholders (members);";
make the first part of paragraph 9 by the following: "9) action plan for the first three years of operation, which include: (a) a description of the risks to be insured), (b) the tariff calculation methodology), c) the methodology for the calculation of technical provisions, reinsurance program, d), (e)) requires the size of the guarantee fund. The guarantee fund may not be used to cover start-up expenses required for f) profit and loss statement and balance sheet projects; "
to make the second part of paragraph 3 as follows: "3) action plan one year in respect of their insurance, which is required, indicating the license of the first subparagraph of paragraph 9," a "," b "," c "," d "and" e "referred to information as well as a profit and loss statement and planned technical provisions.";
to make the fourth subparagraph by the following: "(4) if the insurance company wishes to be licensed terrestrial vehicle liability insurance and plans to carry out a land vehicle insurance against civil liability in respect of it shall submit financial and capital market Commission rakstveidaapliecinājum that the insurance company is the insurer of the vehicle and, where the Office of a member of the guarantee fund, and bank documents, which confirm the single contribution of land vehicles insurance against civil liability in respect of the insurance guarantee fund and notify the insurance company representative name (first name, last name) and a legal address in each Member State, which shall take a decision on the cost of the insurance indemnity or refusal to pay the insurance indemnity, as well as ensure the claims cost. ";
replace the fifth paragraph, the words "the insurer is off" with the words "insurance company is turned off" and the word "insurer"-with the words "insurance company".
21. To supplement the law with 13.1 and 13.2 of the article by the following: "13.1 article. (1) on the newly created insurance company shareholders and the newly formed mutual insurance cooperative society members are eligible: 1) natural person;
2) legal (registered) person that: (a)) duration of not less than three financial years, b) financial statements are prepared in accordance with international accounting standards (financial reporting), are audited in accordance with international audit standards and accompanied by a sworn auditor's report (legal person established in a Member State's financial statements may be prepared according to the in force in the Member State concerned accounting standards);
3) State and local government.
(2) in the first paragraph, such persons need a flawless reputation and free up capital to at least the full estimated investment (acquisition of shares or shares in a transaction).
(3) the examination of a person's reputation and capital adequacy, financial and capital market Commission has the right to verify this law, persons referred to in article 13.2 identity, criminal history, and documents about free capital, which allows you to verify the free funds in the amount of the contribution, as well as to check whether the funds invested are not obtained unusual or suspicious transactions.
(4) on the newly created insurance company shareholders and the newly formed mutual insurance cooperative society members can be natural persons and legal entities to which the shareholders (members) and owners (the real beneficiaries) — this law referred to in article 13.2 natural persons — may be subject to this law, article 21, first paragraph, 1, 2, 3 or 4 or are fulfilled or members of the Management Board of the insurance obligations of the merchant or financial institution recognized as insolvent, that moment of duties, or which have fulfilled the Board's responsibilities in other company members and their negligence or deliberately led these companies to insolvency or bankruptcy for the legislation.
(5) If information specified in this article, the financial and capital market Commission does not receive or the insurance company refuses to provide it, the financial and capital market Commission shall not issue a license for insurance.
13.2 article. Financial and capital market Commission has the right to inspect the newly formed insurance company shareholders and the newly formed mutual co-operative society members ' identity, but when the newly formed insurance company shareholders or newly formed mutual insurance cooperative society members are legal persons, of their shareholders (members) and owners (the real beneficiaries) to obtain information about the owner (the true beneficiaries) — natural persons. These persons are obliged to ensure the financial and capital market Commission with this information if it is not available in public registers, from which the financial and capital market Commission is entitled to receive such information. "
22. Make article 15, first paragraph, point 7 by the following: ' 7) it is not possible to ascertain the applicant's shareholders (members) and the owner (the true beneficiary) — natural persons — identity, impeccable reputation, free capital adequacy, as well as verify that the capital is not free for unusual or suspicious operations; ".
23. in article 16: replace the first subparagraph of paragraph 1, the word "public" with the words "insurance company or insurer of the Member State of the branch";
Replace paragraph 2 of the first paragraph, the words "the insurer stopped" with the words "insurance company or insurer of the Member State of the branch not stopped";
replace the first paragraph 3., 4., 5., 6, and 7, the word "insurer" with the words "insurance company or insurer of the Member State of the branch";
make the first part of paragraph 8 by the following: "a member of the insurer not 8) branch does not comply with article 10 of this law in the third subparagraph of paragraph 6 of the action plan or an insurance undertaking does not comply with this law, in article 13, first paragraph, referred to in paragraph 9, the action plan does not comply with the other provisions of this law, as well as the financial and capital market Commission issued rules and regulations the order requirements, which it established a licence;"
replace the first subparagraph of paragraph 9, the word "insurer" with the words "insurance company or insurer of the Member State of the branch" and the words "not done", with the words "not taken";
make the first part of paragraph 10 by the following: ' 10) insurance company or insurer of the Member State of the branch being wound up. ";
to supplement the article with the second and third subparagraphs by the following: "(2) the financial and capital market Commission shall provide the Member State concerned insurer surveillance authority information on the license for conducting insurance suspension or cancellation.
(3) the financial and capital market Commission administrative acts issued for the license for carrying out the withdrawal of the appeal of insurance shall not suspend its execution. "
believe the current text of article about the first part.
24. in article 17: replace the third paragraph, the word "insurer" with the words "insurance company or insurer of the Member State of the branch";
to supplement the article with the fourth paragraph by the following:

"(4) if the financial and capital market Commission issued the administrative act concerning insurance for licence suspension is appealed, the appeal does not suspend the execution."
25. Article 18: replace the first part of the word "insurer" with the words "insurance company or insurer of the Member State of the branch";
to make the second and the third part as follows: "(2) an insurance company or an affiliate of the insurer liquidation of a Member State, if the license is cancelled for all the classes taken, except where the insurance company reorganisation or restructuring exercise are converted without a legal person that does not carry insurance. Only with the financial and capital market Commission's insurance company is entitled without reorganisation the reorganisation or converted into the exercise of legal persons that do not take insurance.
(3) If an insurance company is to transform the legal person that does not carry insurance, financial and capital market Commission's permission, provided the insurance company has fulfilled all the obligations laid down in the treaties. "
26. Article 20: replace the first paragraph, the words "on behalf of the insurer, the insurer raises" with the words "insurance companies or non-Member State of the branch, on behalf of the insurer raises the insurance company or insurer of the Member State of the branch";
turn off the first part of paragraph 1;
replace the second paragraph, the word "insurer" with the words "insurance company or insurer of the Member State of the branch";
make the third paragraph as follows: "(3) an insurance company or an affiliate of the insurer's obligation of a Member State is the same or at the financial and capital market Commission to immediately withdraw from the post of the first paragraph of this article, if it is established that: 1) it does not meet the post;
2) its actions are detrimental to the insurance company or insurer of the Member State of the branch or the financial stability led to a situation that may endanger the insurance company or the Member State of the branch of the insurer financial strength or the interests of policyholders;
3) it does not comply with the insurance company or the Member State of the branch of the insurer not policies, procedures, processes, programs, and regulations;
4) it does not meet the first part of this article and in article 21 of this law. ";
to supplement the article with the fourth paragraph as follows: "(4) if the financial and capital market Commission issued the administrative act concerning the first part of the persons referred to withdrawal from the posts is appealed, the appeal does not suspend the execution."
27. Article 21: replace the first paragraph, the words "on behalf of the insurer, the insurer raises" with the words "insurance companies or non-Member State of the branch, on behalf of the insurer raises the insurance company or insurer of the Member State of the branch";
to supplement the article with the third part as follows: "(3) if the financial and capital market Commission issued the administrative act concerning the first part of the persons referred to withdrawal from the posts is appealed, the appeal does not suspend the execution."
28. To supplement the law with article 21.1 as follows: "article 21.1. Financial and capital market Commission documents proving this Act article 21 referred to in the first paragraph, the requirements must not be older than three months. "
29. in article 22: replace the second paragraph, the word "insurer" with the words "insurance companies";
to supplement the article with the third part as follows: "(3) if the financial and capital market Commission issued the administrative act concerning the first part of the persons referred to withdrawal from the posts is appealed, the appeal does not suspend the execution."
30. Make the article 24 as follows: "article 24. (1) in order to ensure that this law, article 20, first paragraph, and article 22, first paragraph the persons defined in compliance with the requirements of this law, financial and capital market Commission is entitled to invite to discussion of this law article 20, first paragraph, and article 22, first paragraph down.
(2) the financial and capital market Commission within 30 days of the receipt of all the required days are right not to permit this Act article 20, first paragraph, and article 22, first paragraph, the person specified to start fulfilling the insurance company or the Member State of the branch of the insurer if it does not meet the requirements of this Act or if the financial and capital market Commission cannot ascertain its conformity with the requirements of this law.
(3) financial and capital market Commission shall submit documents and the order in which it shall consider this law, article 20, first paragraph, and article 22, first paragraph the persons defined in compliance with the requirements of this law. "
31. To supplement the law with article 24.1 the following: ' article 24.1. The insurance company is entitled to make only with the reorganization of the financial and capital market Commission's permission. "
32. To supplement the law with 25.1 and 25.2 of the article as follows: "article 15.6. Financial and capital market Commission has the right to claim from the insurer for the insurance policies, in order to assess compliance with the insurance policies of the law "on insurance contracts".
Article 25.2. (1) qualifying holding company may acquire only the person who complies with the requirements of article 8.1 of the law and ensure the fulfilment of the conditions of article 13.2, in addition, that person must be financially sound for at least the last three years, the person required to be able to make additional contributions to the insurance company for the recovery of own resources by providing insurance and the guarantee fund solvency requirements compliance with the requirements of the law and insurance companies regulatory requirements.
(2) the financial and capital market Commission has the right to require the major holdings of the applicant (the essential participation of the graduates actually or suspected of such acquisition turamaj) persons, including legal persons (registered) owner (actual beneficiaries), the natural persons, information, to judge the reputation of that person, free capital adequacy, financial stability, resources, participation in other companies, compliance with the newly formed insurance company shareholders requirements and the impact on insurance companies management and operation.
(3) financial and capital market Commission is entitled to identify the major holdings of the applicant (an essential participation actually got or suspect about this acquisition the) legal entity shareholders and owners (the real beneficiaries) to obtain information about the owner (actual beneficiaries) — natural persons. The identification of these persons to these entities are obliged to submit financial and capital market Commission of the information requested, if it is not available in public registers, from which the financial and capital market Commission is entitled to receive such information.
(4) If a person is suspected of a significant acquisition in the insurance company fail or refuse to provide the second or third subparagraph, and together their membership includes 10 or more percent of the share capital of an insurance undertaking or voting shares, these shareholders may not use all the voting rights of the shares belonging to them. Financial and capital market Commission immediately of this fact shall inform the shareholders and for the insurance companies. "
33. Make to article 26 and 27 the following: ' article 26. (1) any person, if it wants to get a qualifying holding in an insurance undertaking, in writing, notify the financial and capital market Commission. The notification shall specify the extent of the percentage participation of the share capital of an insurance undertaking or of the number of voting shares.
(2) If a person wishes to increase his qualifying holding, reaching or exceeding 20, 33 or 50 per cent of the share capital of an insurance undertaking or voting shares, or an insurance company becomes a subsidiary of the person, the person shall notify in writing financial and capital market Commission. The notification shall specify the extent of the percentage participation of the share capital of an insurance undertaking or of the number of voting shares.
(3) financial and capital market Commission should have the right to request additional information on the persons referred to in this article, to know their reputation, free capital adequacy, financial stability, resources, participation in other companies, compliance with the newly formed insurance company shareholders requirements and the impact on insurance companies management and operation. A person wishing to obtain, has acquired, wants to increase or has increased his qualifying holding in an insurance undertaking, by the financial and capital market Commission submitted its request for information on their free capital of all that person's insurance company shares purchased.

(4) the financial and capital market Commission not later than three months from the date of receipt of the first or second part of the Declaration, assesses a person's reputation, the free capital adequacy, financial stability, resources, participation in other companies, compliance with the newly formed insurance company shareholders requirements and the impact on insurance companies management and operation.
(5) the financial and capital market Commission in part four of this article, within that period, adopt a reasoned decision prohibiting a person to acquire or increase a qualifying holding in an insurance company, and immediately notify in writing the person concerned and the insurance company, if: 1) such acquisition of a qualifying holding or the increase does not provide a financially sound, prudent and appropriate laws and insurance company management and operation;
2) a person is not in free capital, financial stability, satisfactory financial position, excellent reputation, or it does not match the newly created insurance company's shareholders;
3) a person shall not provide, or refuses to provide the financial and capital market Commission, the information specified in this law or the financial and capital market Commission requested additional information;
4) from the person as a result of circumstances it is not possible to provide financial and capital market Commission requested or information specified in this Act;
5) means a person invested insurance companies in order to ensure a significant participation, are obtained unusual or suspicious transactions.
(6) in the fifth subparagraph of this article, paragraph 4 shall not apply to legal persons, if its shares are quoted on the Republic of Latvia or another Member State of the regulated market or a market operator, which is the International Federation of stock exchanges full member, and this legal person financial and capital market Commission to provide details of its shareholders who have a significant interest in it.
(7) if the financial and capital market Commission has agreed that a person acquires or increase a qualifying holding in an insurance company, that person is your qualifying holding in an insurance undertaking or increase no later than six months from the date of the first or second part notice filed financial and capital market Commission. If, on expiry of that period, the person has not been acquired or increased a substantial holding in a company, the financial and capital market Commission approval of its acquisition of a qualifying holding or to increase the company shall lapse.
(8) in the fifth subparagraph of this article, that financial and capital market Commission issued administrative appeal Act shall not suspend the execution.
27. article. Assessment of article 26 of this law in the first and second paragraphs of these notifications, financial and capital market Commission shall consult with the management authority of the insurer, if the proposed acquirer is one of the Member insurer or Member State of the parent company of the insurer, or the person in control of an insurer and if the Member State, the person acquiring or increasing the participation of the relevant insurance company becomes the person's subsidiary or come under its control. "
34. the express article 28.2 as follows: "article 28.2. (1) If an insurance company's impact on the shareholders of the insurance undertaking or may pose a threat to its financial stability, prudent and regulations according to the management and operation of or substantial participation in the winning party does not comply with the newly formed insurance company shareholders, it is not financially stable or fail or refuse to provide in article 25.2 of the Act in the second or third part, the information referred to in the financial and capital market Commission is entitled : 1) request to immediately interrupt such impacts;
2) request to undo the Insurance Board (Council) or a member of the Executive Board (Council);
3) prohibit the shareholder to use all the stock he holds voting rights.
(2) a shareholder is not entitled to use all the voting rights of the shares he holds in the company, and the decision of the general meeting are adopted through this stock voting rights, have effect from the time of their adoption, and on this basis the decision may not require entries in the commercial register is made and other public registers, if: 1) financial and capital market Commission in the cases referred to in this law, is forbidden by the person using the proportion of the voting rights of the shares;
2 the person is obtained or) increased the qualifying holding in an insurance undertaking before this law, article 26 on the first or second part of the notification referred to in the financial and capital market Commission;
3) person is acquired or increased a substantial holding in a company article 26 of this law in the first or second part of the notification referred to in the hearing.
(3) If an insurance company shareholder it is prohibited to use the voting rights of the shares he holds in the company, the total number of shares to be valid, calculation of all balsstiesīgaj shares less the its shares, that voting rights are prohibited.
(4) the provisions of this law on the qualifying holding is not attributable to the shareholders of insurance undertakings for which qualifying holdings in other insurance company shareholder voting rights, the prohibition applied.
(5) the first paragraph of this article in the financial and capital market Commission issued administrative appeal Act shall not suspend its execution. "
35. in article 28.3: Supplement to the second part of the article as follows: "(2) a Person who wishes to obtain indirectly, has acquired, wants to increase the qualifying holding or has increased the insurance companies, and financial and capital market Commission's request for information, which allows it to ascertain the persons concerned compliance with this law, chapter II and III requirements.";
believe the current text of article about the first part.
36. To supplement the law with article 28.4 of the following: ' article 17.6. Qualifying holding in an insurance undertaking is not entitled to obtain investment funds and comparable to the Foundation. "
37. Add to article 29 to the third, fourth, fifth and sixth the following: "(3) the debtor for the establishment and functioning of the register, the insurer shall provide the Bank of Latvia, in accordance with its rules and regulations approved instructions about his debtors and their commitment.
(4) the Bank shall have the right to confirm the rules and regulations laid down in the instructions to give this article the information referred to in the third subparagraph, the subsidiary bank of companies which provide credit risk associated with financial services, insurers and financial and capital market Commission.
(5) insurers, banks and their subsidiaries, which provide with credit risk related financial services, directly or with a particular institution established for that purpose, through the mutual exchange of information on debtors and their commitment.
(6) If the insurer fails to comply with the third paragraph of this article, the requirements, the Bank of Latvia is entitled to impose fines of up to 5000 it late. "
38. Express article 29.1 points 1 and 2 by the following: "1) providing insurance services provides honest and open attitude to the policyholder, the insured and the person is eligible for insurance claims in accordance with the conclusion of the insurance contract;
2): (a) the insurer provides the policyholder) it requested information on the insurance business, concluded between the insurer and the policyholder, the insured (b)) and the person's eligibility for insurance reimbursement in accordance with the conclusion of the insurance contract, it requested information relating to the rights of individuals to receive claims and obligations against the insurer, c), information on the time (not to exceed 30 days), for providing the information referred to in this paragraph; ".
39. To complement the law with article 29.2 of the following: ' article 29.2. (1) If a person is eligible for insurance claims in accordance with the conclusion of the insurance contract, the insurer shall submit a written request or the Member insurer which provides insurance services, respecting the principle of freedom to provide services, introduces this person with the documents justifying the decision on the person of the entire cost of the insurance indemnity or refusal to pay insurance claims, or issue a copy of it. The person is eligible for insurance claims in accordance with the conclusion of the contract of insurance, shall have the right to receive a specified in this paragraph, copies of documents for payment, not exceeding the costs of the preparation of copies of documents.

(2) the insurer or the insurer providing insurance services, respecting the principle of freedom to provide services, is not obliged to present documents and copies of documents issued in the first part of this article in the order, if the insured risk relating to the conditions of accession of the Member insurer or the insurer has submitted documents to the law enforcement authorities in criminal proceedings.
(3) the insurer or the insurer providing insurance services, respecting the principle of freedom to provide services, and introduction to the documents justifying its decision due to the cost of claims, or of the refusal to pay insurance claims, has the right to have the person who is the eligibility of claims in accordance with the conclusion of the insurance contract, the written proof of the signature, specifying the documents that this person has read. If the person is eligible for insurance claims in accordance with the conclusion of the insurance contract, refuses to sign the receipt for this part, signed by the insurer or the insurer, the special marks indicating that the person refused to sign the receipt. "
40. the title of chapter IV, Expressed as follows: "the Same means of chapter IV and the coverage of priority claims".
41. Article 30: to replace the word "insurer" (fold) with the words "insurance company or insurer of the Member State of the branch" (fold);
to turn off the second sentence of the first subparagraph.
42. Article 31: make the first paragraph by the following: "(1) in order to assess insurance companies and not the Member State of the branch of the insurer to the stability of the financial situation, the insurance company and the Member State of the branch of the insurer not own funds compared with the solvency margin. Insurance company and a member of the Executive branch of insurer solvency requirement if own funds shall be equal to the required solvency margin or more of it. ";
Add to the second part of the second sentence as follows: "solvency margin must not be less than the minimum of the guarantee fund's size.";
turn off the third;
replace the fourth subparagraph, the word "insurer" (fold) with the words "insurance company or insurer of the Member State of the branch" (the fold).
43. To supplement the law with article 31.1 the following: ' article 31.1. (1) the Member State of the branch, the insurer, not less than 25 per cent of the minimum guarantee fund size deposit as security for credit institutions established in the Republic of Latvia. The deposit must be freely available, it may not be difficult, and moving it is possible only with the financial and capital market Commission's permission. The amount of the security shall not be taken into account when calculating a Member State of the branch of the insurer's own funds.
(2) the Member State of the branch of the insurer, own funds calculated solvency margin amounts invested in the Member States (including the amount of the guarantee fund in the Republic of Latvia) article 42 of this law laid down in the first subparagraph in assets. "
44. Article 32: make the first paragraph by the following: "(1) the guarantee fund is the larger of the following two values: 1) one third of the solvency margin calculated;
2) guarantee fund minimum size. ";
Add to article 1.1 and 1.2 of the part as follows: "(11) the minimum of the guarantee fund size: 1) commercial companies that cover this law 12 the first paragraph of article 10, 11, 12, 13, 14, 15 and 19 of the insurance referred to in paragraph ways, there are three million euros, while other companies — two million euro;
2) mutual insurance cooperative associations, which cover this law 12 the first paragraph of article 10, 11, 12, 13, 14, 15 and 19 of the insurance referred to in paragraph ways is 2.3 million euros, while other mutual insurance cooperatives societies — 1.5 million euro;
No Member insurer's 3) branch — 100 percent from 1.1 parts referred to in paragraph 1.
(12) article 1.1 of this part, the minimum guarantee fund, denominated in euro, are reviewed once a year and indexed, if in accordance with the statistics office Eurostat information consumer price index European economic area countries increased by five percent or more. Increase the minimum guarantee fund amount is rounded to the nearest 100 000 euros. The decision on the index and the minimum guarantee fund in the amount of the increase for the year in question shall notify the European Commission. "
45. in article 34 and 35: replace the word "the" with the word "own";
replace the word "insurer" (fold) with the words "insurance company or insurer of the Member State of the branch" (the fold).
46. To supplement the law with article 35.1 of the following: ' article 35.1. (1) the priority claim are the policyholder the insurance premium paid in advance and this law, article 75 of the first subparagraph of point 2 and 3 set out in claims.
(2) an insurance company or an affiliate of the insurer of the Member State shall ensure that any time would be known in the first paragraph, determine the amount of priority claims.
(3) the possible priority claims must be settled in full by the following assets: 1) with this law, the first paragraph of article 42 of 1., 2., 3., 4., 5., 6., laid down in point pursuant to this law, the second subparagraph of article 42;
2) to cash in. "
47. Article 39: replace the first paragraph, the words "the insurer committed" with the words "insurance company or insurer's branch of the Member State entered into";
Replace in the second, third and fourth paragraph, the words "the insurer" (fold) with the words "insurance company or insurer of the Member State of the branch" (the fold).
48. Article 40: replace the words "the insurer who made" with the words "insurance company or insurer of the Member State of the branch, which made";
replace the first paragraph, the words "the insurer, who concluded" with the words "insurance company or insurer of the Member State of the branch, which has";
replace the sixth paragraph, the words "the insurer" with the words "insurance company or insurer of the Member State of the branch".
49. Article 41: replace the first part of the text, the word "the" with the words "insurers insurance companies or non-Member State of the branch of the insurer";
to supplement the first part with the following text: "insurance companies and not the Member State of the branch of the insurer's management at least once a year, review the investment building procedures and conditions, coordination through investments, geographical location, business partners and markets [financial instruments market (regulated not regulated), the real estate market]. Before the transactions in financial derivatives or insurance undertaking of a Member State of the branch of the insurer not management develop and approve the use of derivatives, which is matched by the insurance company or the Member State of the branch of the insurer's core, its contribution to shaping the agenda and relevant risk management. "
to turn off the second part;
to supplement the article with the fourth paragraph as follows: "(4) a member of the insurer Not affiliate to cover technical provisions can only apply in the Republic of Latvia invested assets."
50. Article 42: replace the second part of paragraph 2, the word "insurer" with the words "insurance company or insurer of the Member State of the branch";
make the other parts 3, 4 and 5 of paragraph by the following: "3) customer payment term absence is not longer than three months, and the following requirements deriving from claims against persons linked to the insurer. This condition applies to policyholders receivables from direct insurance operations;
4) credit institution received the license in the Republic of Latvia, in another Member State or in the Member State of the OECD, it is authorised to provide financial services to the country in which the license is issued, and the credit institution has a person associated with the insurer;
5) debt securities included in the Republic of Latvia, or of another Member State on the regulated market of a Member State of the OECD or registered in the Republic of Latvia, in another Member State or in the Member State of the OECD, and at least one international rating agency has assigned investment grade ratings. These debt securities can not be extended to cover technical provisions, if the issuing person associated with the insurer, as well as if it has been established that an international rating agency, has assigned ratings lower than investment grade. These restrictions do not apply to the Republic of Latvia, of the other Member State or the Member State of the OECD debt securities, issued by the State or the municipality; "
to complement the second part with 6, 7, 8, 9 and 10 of the following paragraph:

"6) equity securities included in the Republic of Latvia, or of another Member State on the regulated market of a Member State of the OECD, and it is issued by a person associated with the insurer;
7) mortgage-secured loans, issued to the Republic of Latvia, in another Member State or registered in a Member State of the OECD a real estate mortgage, and such loans are not issued to persons related to the insurer;
8) investment fund investment certificates or comparable securities issued by persons not related to the insurer. The closed investment fund units in the Republic of Latvia, or of another Member State on the regulated market of a Member State of the OECD;
9) for assets which extend to cover the technical reserves, financial derivatives, futures contracts, swaps and regulated market — inline options may only be used if they reduce investment risks or facilitate efficient portfolio management and investment if, before the commencement of such activities has been informed in writing by the financial and capital market Commission. Derivative financial instruments are taken into account in evaluating the assets with which the derivative instrument relates;
10) investment modified immovable property located in the Republic of Latvia, in another Member State or in the Member State of the OECD. "
51. the express article 42.1 as follows: "article 42.1. (1) a unit-linked life insurance contracts to cover for the technical provisions apply only to open investment Fund (equivalent to the total investment) investment certificates (shares) or insurance companies or non-Member State of the branch of the insurer specifically for this purpose, create a separate set of assets, which are usually divided into notional components.
(2) if the market linked life insurance contracts linked to stock indices or other in the first part of this article is not designed to calculate the value to such an agreement covering technical provisions apply to the assets whose value changes are closely linked to stock indices or other calculation size changes.
(3) on the unit-linked life insurance contracts covering technical provisions do not apply article 43 of this law. "
52. Article 43: replace the word "insurer" (fold) with the words "insurance company or insurer of the Member State of the branch" (fold);
make the first part of paragraph 2, the second sentence as follows: "this restriction does not apply to the Republic of Latvia, of the other Member State or the Member State of the OECD debt securities, issued by the State or the municipality;"
make the first part of paragraph 4 by the following: "4) not more than five percent of the technical reserves should be subject to the one in the Republic of Latvia, in another Member State or registered in a Member State of the OECD's contribution to the Fund's investment certificates;"
Replace paragraph 7 of the first paragraph, the number "10" with the number "20".
53. Replace article 46, second paragraph of article 75 and article 104.1, the word "insurer" (fold) with the words "insurance company" (the fold).
54. the express article 47, the first paragraph by the following: "(1) an insurance company or insurer's branch of the Member State guarantees, as well as other similar liabilities should not exceed 10 percent of the insurance company or the Member State of the branch of the insurer not own resources. Insurance company or insurer's branch of the Member State guarantees, as well as other similar obligations recorded. "
55. Article 48 off.
56. Article 49: replace the second and in the fourth subparagraph, the word "insurer" with the words "insurance company or insurer of the Member State of the branch";
replace the third paragraph, the words "the insurer who" with the words "insurance company, which".
57. Article 50: replace the word "insurer" (fold) with the words "insurance company or insurer of the Member State of the branch" (fold);
off in the third paragraph, the words "and article 90 of this law the insurance policies mentioned in the Treaty";
adding to the third paragraph after the word "electronic" with the words "This includes those treaties and the text of the amendment".
58. To supplement the law with article 51.1 of the following: ' article 51.1. Financial and capital market Commission after the insurer's management authority of the Member State's request, provide it with information on the insurance company's insurance in the Member State concerned, using the law to establish a branch or the principle of freedom to provide services. "
59. Article 54: replace the word "insurer" (fold) with the words "insurance company or insurer of the Member State of the branch" (fold);
replace the first and second paragraph, the words "other person, verifying the annual report" with the words "certified auditor company";
replace the third paragraph, the words "the person who verified the annual report" with the words "certified auditor company";
in the fifth subparagraph, replace the words "another person for verifying the annual report" with the words "certified auditor of the company.
60. Replace article 56, second paragraph, the words "the insurer who" with the words "insurance company, of which the" and the words "other annual report verifying the person" — with the words "sworn auditor commercial companies".
61. Replace article 57, first paragraph, the words "the person who verified the annual report" with the words "certified auditor of the company.
62. Article 58: replace the first paragraph, the words "annual report" with the word "reports";
replace the first paragraph, the word "the" with the words "insurers insurance companies or non-Member State of the branch of the insurer";
replace the second paragraph, the words "the insurer will not have noticed" with the words "insurance company or insurer of the Member State of the branch has not adhered to" and the word "insurer"-with the words "insurance company or insurer of the Member State of the branch".
63. Article 59: replace the word "insurer" (fold) with the words "insurance company or insurer of the Member State of the branch" (fold);
Supplement third paragraph 6 by the following: "6) measures to be taken and their deadlines.";
Supplement fifth after the word "entitled" with the words "subject to such security measures";
to supplement the article with sixth and seventh paragraph as follows: "(6) the financial and capital market Commission shall inform the Member State, the supervisory organ of the insurer in the territory of which the insurance company opened its branch or in the territory of which the insurance company provides insurance services, respecting the principle of freedom to provide services for insurance company restrictions or prohibitions, and it has the right to request the Member State to the insurer's management authority a specific insurance company for appropriate restrictions or prohibitions.
(7) the financial and capital market Commission has the right of a Member State [which is the home Member State of the insurer (registration)] the insurer's management authority to determine the Member State at the request of the insurer adequate restrictions or prohibitions, any Member State supervisory body is the insurer in respect of the Member insurer. "
64. Article 60: replace the first, second, third and fifth paragraphs, the word "insurer" (fold) with the words "insurance company or insurer of the Member State of the branch" (fold);
to turn off the second sentence of the second subparagraph;
replace the fourth part in the introductory part, the words "the insurer is entitled to" with the words "insurance company or insurer of the Member State of the branch shall be entitled ';
turn off the fourth paragraph in paragraph 1, the words "the Republic of Latvia, the Republic of Estonia, the Republic of Lithuania or registered";
make quarter point 2 as follows: "2) Member insurer that has a valid license insurance operations headquarters (registration) in the country;"
adding to the fourth paragraph of paragraph 3, after the word "reinsurers" with the words "whether or not the Member insurer";
adding to the fourth subparagraph of paragraph 4 by the following: "4) Member State the reinsurers, who has a valid license for the reinsurance operations headquarters (registration) in the country."
65. Article 61: replace the first part of the text, the word "insurer" with the words "insurance company or insurer of the Member State of the branch";
to supplement the article with the second part as follows: "(2) 30 days before the start of reinsurance accepted the insurance company or the Member State shall inform the insurer of branch financial and capital market Commission of the assumed reinsurance, giving a description of the risks insured. ';
believe the current text of article about the first part.
66. Article 64: to supplement the first sentence with the following:

"The insurance company or insurer of the Member State of the branch may not sign a contract with one of the co-insurance or more member insurers, not if the insured risk related objects insured in a Member State.";
Add to the second part of the sentence the following wording: "co-insurance contract signature If an insurance company or an affiliate of the insurer of a Member State and one or more member insurers, not an insurance company or an affiliate of a member insurer may not assume full responsibility (jointly)."
67. Article 65 be expressed by the following: ' article 65. (1) an insurance company or insurer of the Member State of the branch may all insurance contracts concluded or part of the transferred insurance operator or a Member State of the branch, the insurer has the right to take insurance in a Member State. The insurance company may not be transferred to the Member State of insurance contracts without the insurer or the insurer's branch, the Member State which is not a registered member.
(2) permission for the entire contract of insurance entered into or issued and the transfer of the insurance contract shall lay down the procedure for the transfer of financial and capital market Commission. The decision on authorisation or refusal to issue of the financial and capital market Commission shall adopt within 30 days after receipt of all required documents.
(3) an insurance company or an affiliate of a member insurer in Latvia, which takes on the insurance contracts, submit a financial and capital market Commission information indicating this statutory requirements after the takeover of the insurance contract.
(4) if all of the concluded insurance contracts or the part transferred to the insurance company or insurer of the Member State of the branch in the Republic of Latvia, the finance and capital market Commission is entitled to adopt a decision on the authorisation, if it is satisfied that, after the takeover of the insurance contract will be fulfilled the requirements laid down in this law.
(5) if the insurance contracts concluded in the all or part of a Member State is transferred to the insurer, the financial and capital market Commission is entitled to adopt a decision on the authorisation of the receipt of the relevant Member State supervisory body of the insurer's Declaration, stating that after the takeover of the insurance contract, the insurer will be implemented by the Member State solvency requirements.
(6) If an insurance contract concluded in all or part of it is transferred to the Member State of the branch of the insurer not to which another Member State has the right to take insurance, financial and capital market Commission is entitled to adopt a decision on the authorisation of the receipt of the relevant Member State supervisory body of the insurer's Declaration, stating that the law allows Member States to take over the insurance contracts and insurance contracts after the takeover will run solvency requirements the Member State concerned, and the insurer's management authority agrees with such a transaction.
(7) if the insurance company puts in another Member State, the branch of insurance contracts concluded or part of the Financial and capital market Commission, before a decision on authorisation shall consult with the Member State of the branch, the insurer's management authority. A decision on the authorisation of the insurance contract for the transfer of financial and capital market Commission is entitled to adopt, after receiving the insurer's management authority of the Member State's consent. If, within three months from the date of despatch of the Member insurer's supervisory institutions reply is not received, it is considered that it has agreed to the transfer of the insurance contract.
(8) If the insured risk related insured objects in other Member States, financial and capital market Commission, after receiving the application for the transfer of the contract of insurance, shall immediately inform the management authority of the Member insurer. A decision on the authorisation of the insurance contract for the transfer of financial and capital market Commission has power to accept after the insurer received the consent of the supervisory organ. If, within three months from the date of despatch of the Member insurer for supervisory response is not received, it is considered that they have agreed for the transfer of the insurance contract.
(9) If the insured risk related insured objects are located in the Republic of Latvia, the finance and capital market Commission within three months from the receipt of the request is informed of the transfer of the insurance contract the insurer in another Member State supervisory authority. "
68. Article 66: replace the first part of the word "insurer" with the words "insurance" for economic operators;
replace the second paragraph, the word "insurer" with the words "insurance company or insurer of the Member State of the branch".
69.67 and 68 to make the article as follows: "article 67. To prevent the insurance company or insurer insolvency of a Member State of the branch and to protect policyholders ' interests, financial and capital market Commission may order the insurance company or insurer's branch of the Member State all insurance contracts concluded or part of the transferred insurance merchant, who has agreed to accept those contracts.
68. article. (1) If the insured risk related insured objects are located in the Republic of Latvia, to inform the policyholder, insure and other persons who have rights and obligations under the concluded and passed the insurance contracts, insurance, merchant and member of the branch to which the insurer in another Member State has the right to take insurance, after receiving permission to transfer insurance contracts shall be published without delay in the announcement in the newspaper Latvijas journal ". The announcement indicates the marketable insurance contracts, the person who adopted the insurance contracts (including its legal address), and the insurance contract transfer date.
(2) If the insured risk related objects insured in a Member State, the order of publication is determined by the law of the Member State concerned. "
70. the supplement to Chapter VIII, article 68.1 the following: ' article 68.1. Insurance contracts from the date of its entry into force is binding on policyholders, insured and other persons who have rights and obligations under the concluded and passed the insurance contracts. After the takeover of the insurance contract remains in effect for all of the insurance contract, the rights and obligations of the parties. "
71. Article 69: replace the first subparagraph of paragraph 1 and 3, in the second and in the fourth subparagraph, the word "insurer" (fold) with the words "insurance company or insurer of the Member State of the branch" (fold);
replace the first subparagraph of paragraph 2, the word "insurer" with the words "insurance companies".
72. Article 73: replace the words "in the first paragraph if the insurer decided to end the operation," with the words "If an insurance company or an affiliate of a member insurer decided to end the operation,";
replace the second and third paragraph, the words "the insurer" with the words "insurance companies or non-Member State of the branch of the insurer".
73. Chapter X of the turn.
74. Article 77: Add to the first paragraph, after the word "Insurer" with the words "Member insurer";
to complement the second paragraph after the word "insurer" with the words "and the Member State insurers";
adding to the third paragraph after the word "insurer" with the words "the Member insurer and";
Supplement fifth after the word "the" with the words "the insurer or insurers of the Member State".
75. Article 78: make the first part of the first sentence by the following: "insurance agents are individuals representing the insurer or insurers of Member State interests, and their action is determined by the insurer or the insurer of the contract concluded by the Member State with which they are authorised to operate in the Member State of the insurer or the insurer's interest."
to complement the second paragraph after the word "group" with the words "or one of the Member insurer who is entitled to make under this law, the procedure laid down in article 11.4, or the Member State set out in this part of the group insurer";
make the third paragraph as follows: "(3) the insurance agencies are legal persons representing Member State of the insurer or the insurer's interests, and their actions are determined by the insurer or insurers of the Member Agreement. The Agency is entitled to represent only one insurer or group of insurers, or one Member State insurers who have the right to take insurance in accordance with this law, the procedure laid down in article 11.4, or the Member State set out in this part of the group insurer. ";
to complement the fourth paragraph after the word "insurer" with the words "or the" Member insurer.
76. Make 79. the second subparagraph by the following:

"(2) the insurer, insurers and State insurance agency insurance agent represents. The information contained in the register (the insurance agent's name, surname, personal code and the insurer, the insurer or the State insurance agency that represents the name of the agent) is freely available. If the insurer, the insurer or the State insurance agency has established a home page on the internet, it inserts this information. "
77. Article 80: Add to the first paragraph, after the word "insurer" with the words "the Member State in which the insurer is entitled to make under this law, the procedure laid down in article 11.4";
Supplement fifth after the word "the" with the words "the insurer or insurers of the Member State";
to supplement the article with the seventh subparagraph by the following: "(7) where the financial and capital market Commission issued the administrative act concerning this article, the persons referred to in section 1.3 of the withdrawal from the post is appealed, the appeal does not suspend the execution."
78. Add to article 81, the first sentence after the word "insurer" with the words "the Member insurer" and.
79. Add to article 82 of the fourth subparagraph by the following: "(4) if the financial and capital market Commission issued the administrative act of the licences issued to the insurance brokerage firm of cancellation is appealed, the appeal does not suspend the execution."
80. Add to article 84 and article 85, the second and third subparagraph after the word "insurer" with the words "Member State insurers".
81. Supplement article 89 of "after the word" insurers "and" Member State insurers.
82. Article 89.1: Supplement to the fourth and fifth paragraph after the word "insurer" with the words "or the insurer";
express the sixth part as follows: "(6) an insurance agency or agent shall not be entitled to withhold the release of the insurer the insurer or Member State documents after termination of the contract with the insurer or the insurer of the Member State.";
to complement the seventh subparagraph after the word "the" with the words "the insurer or insurers of the Member State".
83. Article 91: Add to the first paragraph, after the word "the" with the words "of the insurer or the insurer of the Member State";
to complement the second paragraph after the word "the" with the words "the insurer or insurers of the Member State".
84. To supplement the article 93 (2) of the first subparagraph after the word "article" with the words "the first paragraph".
85. Article 95: Add to the first paragraph, after the word "article" with the words "first part";
replace the second and third paragraph, the words "the insurer" with the words "insurance companies";
Add to article 4.1 part as follows: "(41) of the first subparagraph are not binding for the Member insurer if the insurer's home (registration) regulations made for the protection of the insured abroad (Republic of Latvia), in which it provides insurance services, respecting the principle of freedom to provide services, and covers all the cases provided for in this Act, in addition, the guaranteed claims of not less than specified in this Act."
86. the express article 96, the first subparagraph by the following: "(1) the individual are accumulated and spent part of the Fund, comprising insurer of life or life insurance contributions of the Member States, and a part of the Fund, comprising the rest of the Member insurer or insurers."
87. Supplement article 98, the first paragraph after the word "insurer" with the words "or the" Member insurer.
88. Supplement article 99, the first paragraph after the word "monitoring" with the words "and additional" monitoring.
89. To supplement the law with article 99.1 as follows: "article 99.1. (1) if the financial and capital market Commission finds that the Member State of the branch or Member State of the insurer the insurer who, pursuant to the principle of freedom to provide services, to provide insurance services, an activity which is contrary to the laws of the Republic of Latvia, it shall immediately request that the Member State insurer terminate these steps.
(2) where a Member State or the Member State of the branch of the insurer the insurer who, pursuant to the principle of freedom to provide services, provides insurance services do not stop actions that are contrary to the laws of the Republic of Latvia, the finance and capital market Commission shall immediately inform the Member State concerned, the supervisory body of the insurer.
(3) where a Member State or the Member State of the branch of the insurer the insurer who, pursuant to the principle of freedom to provide services, to provide insurance services, continue to engage in activities that are contrary to the laws of the Republic of Latvia, the finance and capital market Commission shall inform the Member State concerned, the supervisory bodies and the insurer shall take measures to prevent such violations.
(4) if the financial and capital market Commission finds that the Member State of the branch or Member State of the insurer the insurer who, pursuant to the principle of freedom to provide services, to provide insurance services, an activity which is contrary to the public interest in the protective laws of the Republic of Latvia, the finance and capital market Commission shall inform the Member State and the Member State of the insurer the insurer's supervisory body, shall immediately take the measures necessary to prevent such violations and decide on the legislation application of penalty. "
90. Article 104: turn off in the first paragraph, the words "and" insurance intermediaries ";
to turn off the second paragraph, the words "and the insurance intermediaries";
replace the fourth subparagraph, the word "insurer" (fold) with the words "insurance company or insurer of the Member State of the branch" (the fold).
91. Article 105 of the expression as follows: "article 105. Financial and capital market Commission representative is entitled to check the insurance company or insurer of the Member State of the branch and documents and to participate, without voting rights, insurance companies or non-Member State of the branch of the insurer governing body. "
92. the express article 107.1 as follows: 107.1 "article. (1) information on the insurer or insurance intermediary and his client, the insurer or insurance intermediary and his client, who has not been previously published in accordance with the procedure prescribed by law or the disclosure of which is not determined by other laws, or on publicly available has been approved by the financial and capital market Commission, the Council, as well as the financial and capital market Commission in article 20 of the law that information be considered as restricted access information and it cannot be disclosed to third parties except in summary or aggregate form, so that would not be possible to identify any particular insurer, insurance broker or his client.
(2) the first part of this article are without prejudice to the provisions of the financial and capital market Commission within the limits of its competence, to exchange information with restricted access for Member States in financial and capital market supervisory institutions, maintaining the information provided limited availability status.
(3) the financial and capital market Commission is entitled to conclude agreements for the exchange of information with foreign supervisory authorities of the insurer or the relevant foreign authorities treated the fifth part of this article the said institutions, if the foreign law provides equivalent responsibility of the Republic of Latvia laws laid responsibility for the limited access of unauthorised disclosure of information. Such information shall be used only in the financial and capital market participants to carry out supervision or relevant bodies established by law the functions. The information received by the foreign authorities concerned may be disclosed only with the financial and capital market Commission's prior written consent and only for the purpose for which consent was given.
(4) the financial and capital market Commission in the second and fifth paragraphs of information received referred to is entitled to use only their monitoring functions: 1) in order to ensure that the insurer and the laws governing compliance, especially with regard to the monitoring of liquidity, solvency, large exposures, administrative and accounting organization and internal control mechanisms;
2) to the appropriate statutory law restrictions and penalties;
3) proceedings that are challenged in the financial and capital market Commission issued the administrative act or actual action.
(5) in the first and fourth subparagraphs shall preclude the financial and capital market Commission according to its competence to exchange information with limited access: 1) Member State financial and capital market supervisory institutions;
2) institutions or persons in the Republic of Latvia or in the Member States are responsible for the insurer's insolvency, liquidation and insurers and other financial institutions accounting and financial records;

3) persons in the Republic of Latvia or in other Member States carried out the statutory audit of internal checks and apdrošinātājo, credit institutions, investment firms and other financial institutions;
4) the authorities of the Member State, which manages investments and deposit compensation schemes (funds), if they need their functions. "
93. To supplement the law with 107.2 and 107.3 article as follows: "article 107.2. (1) the monitoring of the financial and capital market Commission shall cooperate and consult with the European Commission.
(2) the financial and capital market Commission shall inform the European Commission about significant problems: 1) which the insurance undertaking has occurred, the application of European Union directives on the base of the Republic of Latvia developed laws and regulations, and with the European Commission to analyse these problems to find appropriate solutions;
2) by providing insurance services in the Member States or not entering the insurance does not provide services in the Member States, facing insurance companies.
Article 107.3. (1) the financial and capital market Commission sends a notification to the European Commission, be informed of cases where: 1) license for the conduct of insurance issued to the subsidiary, in which the participation, directly or by way of control has a parent company that is not registered in the Member State;
2) company that is not registered in a Member State, has gained membership in the company, becoming an insurance company's holding company;
3) in accordance with the legislation makes insurance compulsory, indicating: (a)) special provisions relating to compulsory insurance, (b)) rules, which shall be compulsory insurance policy;
4) in the Republic of Latvia adopted regulations governing the provision of insurance services, adding the notification text of the laws.
(2) the first subparagraph of this article, paragraph 1 in the case referred to in the financial and capital market Commission notice of subsidiary's shareholders. "
94. Article 108 of the expression as follows: "article 108. Financial and capital market Commission or its authorised representative shall have the right to insurance companies or non-Member State of the branch of the insurer check. Financial and capital market Commission is entitled to authorise the pursuit of this task to the certified auditor certified auditor or company. "
95. Article 109: replace the first paragraph, the words and figures "If the conditions of this law, 7, 24, 41, 41.1, 42, 42.1, 43, 46, 47, 48, 49, 50, 56, 57, 63, 77, 80, article 104 and rule" on laundering ' requirements, financial and capital market Commission is entitled to impose on the insurer or insurance broker company "with the words and figures" If the conditions of this law 6.1 , article 7, article 18, second and third parts, 24, 35.1, 41, 42, 43, 46, 42.1, 47, 49, 50, 56, 57, 60, 60.1, 63, 77, 80, article 104 of the law "on insurance" 6., the second subparagraph of article 24.1, article 55 and the law "on laundering ' requirements, financial and capital market Commission is entitled to impose on the insurer";
to supplement the article with the third part as follows: "(3) is not executed voluntary financial and capital market Commission decision (administrative law) enforcement must be carried out by a bailiff of the civil law."
96. To supplement the law with article 109.1 of the following: ' article 109.1. Financial and capital market Commission is entitled within the limits of its competence to request to the insurer and the insurer the shortcomings noted by the Member State of this law and the law "on insurance" irregularities and take measures to prevent such violations. "
97. To supplement the law with article 110.2 as follows: "article 110.2. Financial and capital market Commission, its staff and Governors are not responsible for losses incurred by the insurer, the insurer, of the Member State the reinsurers, insurance intermediaries or third parties, and they may not be held liable for actions they are legal, accurate, reasonably and in good faith made duly fulfil a monitoring function in the law and in other laws and regulations. "
98. To supplement the law with the following chapter XIV: "chapter XIV supplementary supervision article 127. (1) is subject to the supplementary supervision of insurance companies, which are: 1) the membership of the society at least one insurance company, insurer, reinsurer or foreign;
2) intermediate insurance holding companies, reinsurers or insurers of the Member State of the subsidiary;
3) diversified insurance holding company subsidiaries.
(2) a supplementary supervision, in the cases referred to in this Act takes account of the company, which are: 1) the participation of insurance companies in the company;
2) insurance company a related company;
3) insurance public participation in related public companies.
(3) the supplementary supervision shall include: 1) financial and capital market Commission's right to request information;
2) providing information to the financial and capital market Commission;
3) financial and capital market Commission right onsite check the veracity of the information referred to in the second subparagraph of article in the company;
4) this law referred to in article 131 mutual supervision;
5) the adjusted solvency requirements for performance monitoring.
(4) if the same insurance holding company, non-Member State reinsurer, insurer or insurance holding company is a multidisciplinary, the parent company of the insurance company and a member insurer, the financial and capital market Commission agreed with the insurer's management authority of the Member State which of the two will implement additional monitoring.
128. article. (1) subject to the supplementary supervision of insurance undertakings shall provide financial and capital market Commission all the exercise of supplementary supervision necessary information.
(2) the financial and capital market Commission should have the right to request additional information necessary for the supervision, direct from an insurance company affiliates, the presence and participation of the public society affiliates, if this information has not been received from the insurance company.
(3) the financial and capital market Commission or its authorized persons may perform additional monitoring of the accuracy of the information submitted to the on-the-spot checks of this law article 127 in the second part of the above company and this company may refuse to provide information, citing commercial confidentiality.
(4) after the Member State supervisory authority of the insurer's financial and capital market Commission or its authorized persons, or with the financial and capital market Commission Member State supervisory body the insurer or its authorized persons may perform additional monitoring of the accuracy of the information provided in the check Republic of Latvia registered company which is registered in a Member State subject to supplementary supervision in the Member State of the presence of the public insurer, affiliates or related companies of the public participation.
129. article. (1) the insurance company, which is subject to supplementary supervision in accordance with article 127 of this law, the first subparagraph of paragraph 1, the requirements of the risk management and internal control system and establish procedures to properly identify, assess and control the objectives of supplementary supervision the necessary indicators and information.
(2) subject to the supplementary supervision of insurance undertakings, its membership companies and related companies have the right to exchange the relevant information in the financial and capital market Commission or Member State supervisory authority of the insurer requires the exercise of supplementary supervision.
130. article. (1) the insurance holding company executive member can be a person who meets the following requirements: 1) it is sufficiently competent in the area is responsible;
2) has not less than three years of work experience in the field in question;
3) it has a perfect reputation;
4) it is not deprived and have not been deprived of the right to carry on business;
5 it is not penalized for intentional) criminal offences or are rehabilitated or have been removed or deleted, or it is not a criminal record called criminally.
(2) Before the first paragraph of this article, the person takes up its responsibilities, the insurance company shall inform the financial and capital market Commission. Financial and capital market Commission not later than one month from the date of receipt of the information referred to in this part, shall assess the person's compliance with the first paragraph of this article. Financial and capital market Commission within the time limit referred to in this paragraph shall take a decision to prohibit a person to occupy this article posts provided for in the first subparagraph, if the person does not meet the requirements of the first subparagraph and shall forthwith notify the party concerned and the insurance company.

(3) the financial and capital market Commission may propose to the post is immediately revoked the insurance holding company, the Member of the Executive Body, if it does not meet the first part of this article the requirements or does not comply with the insurance company policies, procedures, processes, programs, and regulations.
131. article. (1) the reciprocal transactions between insurance undertakings subject to supplementary supervision, its participation in society, associated society, membership of public society and associated physical person directly or by way of control has gained 20 percent or more of the voting rights or direct or by way of control acquired a participation, which covers 20 percent of the share capital and over or the number of voting shares of a company, its related companies, membership or participation in public companies in the related society , insurance company out as a good and thorough landlord pursuant to the insured and the policyholder interests.
(2) in the first paragraph, the mutual transactions mentioned are: 1) loans and borrowings;
2) guarantees and other off-balance sheet transactions are presented in;
3), which are reflected in the positions that are included in the calculation of the adjusted own funds;
4) investment;
5) reinsurance business;
6) arrangement for common costs.
(3) the financial and capital market Commission determines the information about transactions between the content and the procedure for submission thereof.
132. article. (1) the adjusted solvency rules and procedures for calculating the own funds adjusted and submit the relevant report, this law, article 127, first paragraph, point 1 and 2 set out in the insurance companies determine the Financial and capital market Commission.
(2) the adjusted solvency requirement is satisfied if the adjusted amount of own funds shall be equal to the adjusted solvency margin or greater than it.
(3) if the adjusted solvency requirement is not or may not be run in accordance with the requirements of this law, subject to the supplementary supervision of insurance undertakings shall submit to the harmonisation of the financial and capital market Commission, the plan of measures to take to ensure compliance with this law.
133. article. If, after this law 131. referred to in the second subparagraph of article information financial and capital market Commission concludes that an insurance company's financial stability is or may be jeopardised, it demands that the insurance company take measures to improve financial stability. "
99. the transitional provisions be supplemented by 23, 24, 25 and 26 as follows: "23.8.3 8.4 and 8.5, the law article relating to outsourcing, which laid down the law in the third paragraph of article 8.3 and insurance company or insurer of the Member State of the branch receives, prior to the entry into force of the law, which made the appropriate additions, insurance company or insurer of the Member State of the branch runs for six months from the entry into force of this law.
Amendment 24 Article 23 1 of the law, the law of article 6.1, the amendment in respect of the exclusion of chapter X shall enter into force simultaneously with the law which provides for the activities of insurance and reinsurance intermediaries in provisions into force.
25. Up to the date of entry into force of the Act, which provides for the activities of insurance and reinsurance intermediaries regulations, financial and capital market Commission under this Act is entitled to claim from insurance intermediaries in the information and documents on their activities. Insurance intermediary shall provide the information requested financial and capital market Commission deadlines and must not submit to refuse, citing commercial confidentiality.
26. Up to the date of entry into force of the Act, which provides for the activities of insurance and reinsurance intermediaries regulations, financial and capital market Commission is entitled within the limits of its competence to require an insurance intermediary the shortcomings noted this law and the law "on insurance" irregularities and take measures to prevent such violations. "
Informative reference to European Union directives, the law includes provisions resulting from: 1) Council of 24 July 1973 on the first Directive 73/239/EEC on the coordination of laws, regulations and administrative provisions relating to the taking up and pursuit of the business of direct insurance other than life assurance;
2) 1973, of the Council of 24 July Directive 73/240/EEC abolishing restrictions on freedom of establishment in the business of direct insurance other than life assurance;
3) Council of 22 June 1988 on the second Directive 88/357/EEC on the coordination of laws, regulations and administrative provisions relating to direct insurance other than life assurance and laying down provisions to facilitate the effective exercise of freedom to provide services and amending Directive 73/239/EEC;
4) Council of 18 June 1992 Directive 92/49/EEC on the coordination of laws, regulations and administrative provisions relating to direct insurance other than life assurance and amending Directives 73/239/EEC and 88/357/EEC (third non-life insurance directive);
5) of the European Parliament and of the Council of 27 October 1998 Directive 98/78/EC on the supplementary supervision of insurance undertakings in an insurance group;
6) the European Parliament and of the Council of 16 May 2000, Directive 2000/26/EC on the approximation of the laws of the Member States relating to insurance against civil liability in respect of the use of motor vehicles amending Council Directives 73/239/EEC and 88/357/EEC (fourth directive on motor insurance);
7) the European Parliament and of the Council of 5 November 2002, Directive 2002/83/EC concerning life assurance.
The law the Parliament adopted on 16 December 2004.
State v. President Vaira Vīķe-Freiberga in Riga 2004 December 28 Editorial Note: the law shall enter into force on 11 January 2005.