The Saeima has adopted and the President promulgated the following laws: law on State funded pensions in State funded pension Act (the Saeima of the Republic of Latvia and the Cabinet of Ministers rapporteur, 2000, nr. 7; 2002, nr. 24; 2004, nr. 2), the amendments are as follows: 1. Replace the entire law, the words "investment company" (the fold) with the words "investment management company" (the fold).
2. in article 11: make part two of the third sentence by the following: "the choice of the holder of the funds it duties and responsibilities, as well as the custodian of the conclusion of the contract and the implementation of this law and in relation to: 1) Treasury-Cabinet of Ministers regulations;
2) investment management firms, investment management company law. ";
express the sixth paragraph 1 by the following: "1 the Commission cancels) occupational pension schemes for management issued a license for the provision of government services or special permission (license) to manage the funds of the scheme;";
to make the seventh subparagraph by the following: "(7) occupational pension scheme funds Manager and Executive respect the capital requirements and other investment management company of the statutory requirements for the investment management companies that manage the individual client financial instruments.";
turn off the eighth.
3. Article 12, first paragraph, point 1: turn off the "a" section;
make paragraph 1 subparagraph "b" as follows: "(b)), Latvia, other Member States of the European Union or the European economic area,";
Replace paragraph 1 of point "d", the words "or of the European Union Member States" with the EEA "Member States of the European Union or the European economic area ';
Replace paragraph 2 of point "a", the words "the Republic of Latvia, the Republic of Estonia, the Republic of Lithuania, the European Union or the Member States" with the EEA "Latvia, other Member States of the European Union or the European economic area ';
make paragraph 3 "a" and "b" in subparagraph by the following: "(a)) is included in Latvia, other Member State of the European Union or the European economic area country registered stock exchange (regulated market) or equivalent official list (official list), b) are included in the Organization for economic cooperation and development member of a stock exchange (regulated market), which is also the international stock exchange a full member of the Federation ,”;
replace point 4 and 5, the words "the Republic of Latvia, the Republic of Estonia, the Republic of Lithuania, the European Union or a Member State" with HU "in Latvia, other Member State of the European Union or the European economic area country";
make a point 6 subparagraph by the following: "(a)) these derivative financial instruments are included in Latvia, other Member State of the European Union or the European economic area country registered stock exchange (regulated market) official list or included in the Organisation for economic cooperation and development member of a stock exchange (regulated market), which is also the international stock exchange of the full member of the Federation,";
Replace paragraph 6 of section "b", the words "the Republic of Latvia, the Republic of Estonia, the Republic of Lithuania, the European Union or a Member State" with HU "in Latvia, other Member State of the European Union or the European economic area country".
4. transitional provisions be supplemented by 7 and 8 points by the following: "7. Investment firms, which until 2004 30 April brought the State funded pension scheme administration of funds, up to 31 December 2004 shall take the necessary measures to comply with the requirements laid down in this law.
8. financial and capital market Commission allow the investment firm to dispose freely of the funds that are deposited or held as collateral investment firms employee fraud, theft, neglect or other violent crime to cover losses only after the investment firm has taken the necessary measures to meet the requirements laid down in this Act, or has stopped the State funded pension scheme funds management regulations of the State funded pension scheme operates. "
The law shall enter into force on 1 May 2004.
The law adopted by the Parliament of 18 March 2004.
State v. President Vaira Vīķe-Freiberga in Riga 2004 April 6 Editorial Note: the law shall enter into force on 1 May 2004.