The Saeima has adopted and the President promulgated the following laws: amended individual deposit guarantee law to make individual deposit guarantee Act (Republic of Latvia Saeima and the Cabinet of Ministers rapporteur, 1998, no. 13) follows: 1. Replace paragraph 2 of article 1, the words "administrator approved" with the word "adopted".
2. To make the first part of article 2 in the following wording: "(1) this law aims to establish general principles of guarantees for bank deposits of natural persons, which is attracting deposits at the time or was allowed to attract deposits of natural persons, as well as the deposit guarantee fund, management and use of procedure."
3. the title of chapter II be expressed by the following: "chapter II. Deposit guarantee fund formation, management and use. "
4. Express 4 and article 5 by the following: "article 4.  Financial and capital market Commission provides a deposit guarantee fund accumulation, management and guaranteed compensation cost as well as perform the following functions: 1) organizes the transfer of payments of the bank deposit guarantee fund;
2) calculation time and recover outstanding amounts and penalties;
3) organizes the guaranteed cost of remuneration;
4) exercise rights against the claims of creditors of the bank guaranteed compensation paid.
5. article.  Supervision of the deposit guarantee fund of funds accumulation and guaranteed compensation of cost carried out financial and capital market Commission in financial advisory and capital markets. "
5. To exclude article 6.
6. Express article 10 and 11 by the following: ' article 10.  (1) a Bank authorized to attract deposits of natural persons, to the first month of each quarter. date 20 payments to the deposit guarantee fund of this law article 8 laid down in the first subparagraph.
(2) a Bank to which the physical persons deposit raising moment was allowed and was later forbidden to attract deposits of natural persons, but which still have deposits of natural persons, to the first month of each quarter. date 20 payments to deposit guarantee fund doubled in this law article 8 laid down in the first subparagraph.
(3) in the second paragraph of this article, certain payments to the bank until it has paid all of the deposits of natural persons or the bank the amount paid reached this law, article 8, second paragraph, the given level, or until the bank is again allowed to attract deposits of natural persons. Then this sort of Act payments article 8 laid down in the first subparagraph.
11. article.  The banks that have a deposit at the time of acquisition or was allowed to attract deposits of natural persons, and that such deposits have attracted and not fully reimbursed, it is the duty of the financial and capital market Commission and the procedure laid down within the month to submit a review of individual deposits. "
7. To turn off the title of chapter III.
8. in article 12: replace the second paragraph, the words "Fund Administration" with the words "financial and capital market Commission";
make the third paragraph as follows: "(3) if the bank missed the deadline by more than 30 days, the financial and capital market Commission are right to emphasize the order to recover outstanding amounts within the time limit and fine and write off the funds from the bank for financial institutions at the Bank of Latvia, subject to prior written notification to the Bank of Latvia."
9. Article 13 be expressed as follows: "article 13.  The deposit guarantee fund is used up to the cost of the guaranteed compensation. Deposit guarantee fund to be kept in the Bank of Latvia the open account, and these funds can be invested only in securities of Latvia. "
10. Consider existing chapter IV of chapter III.
11. Replace the second paragraph of article 14, 15, 16 and article 20, the words "Administration" of the Fund (the fold) with the words "financial and capital market Commission" (fold).
12. Express article 18 and 19 by the following: "article 18.  Guaranteed remuneration determined in accordance with an individual's deposit to the day when the insolvency came into effect, which is determined by a court judgment.
19. article.  Deposits in foreign currency are calculated in dollars by the Bank of Latvia the relevant foreign exchange rate on the day when the insolvency came into effect, which is determined by a court judgment. "
13. Turn off V.
Transitional provisions 1. Deposit Guarantee Fund Administration ceases 30 June 2001.
2. the financial and capital market Commission is the deposit guarantee fund of successor rights and obligations prescribed by the Cabinet of Ministers.
The law shall enter into force on 1 July 2001, but transitional provisions — July 1, 2000.
The law adopted by the Parliament in June 1, 2000.
State v. President Vaira Vīķe-Freiberga in Riga 2000 June 20.