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Amendments To The Law "on Securities"

Original Language Title: Grozījumi likumā "Par vērtspapīriem"

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The Saeima has adopted and the President promulgated the following laws: the amendments to the law "on securities" make law "on securities" (Latvian Saeima and the Cabinet of Ministers rapporteur, 1995, nr. 20; 1997, no. 14, 23; 1998; 2000, no. 22, no. 6) as follows: 1. Turn off all over the law, the word "memorandum" (fold), except for the transitional provisions of paragraph 3.
 
2. in article 1: (1) be expressed as follows: "1) security, the document that confirms the commitment of the issuer against the possessor of the document;"
Replace in paragraph 2, the words "the entry of the form" skripturāl "as the record in the form prescribed by law";
make paragraph 9 by the following: "9) series of securities — securities that make up all in one issue released in a fungible securities;";
express the following paragraph 13: "13) the issuer — the person who releases the securities in their own name;"
Add to paragraph 18, after the word "business" with the words "in securities";
turn off paragraph 19, the words "licensed broker";
turn off paragraph 20;
turn off paragraph 26;
Express 27 the following: "27) securities market participants, issuers, investors, brokerage firms, brokers, banks and foreign bank branches (branches), investment companies, investment advisors, stock exchange, central depository of Latvia, people who place securities publicly traded, and other persons who perform activities regulated by this Act;";
turn off 32;
Add to article 35, 36, 37, 38, 39 and 40 as follows: ' 35) the significant event associated with the issuer, any events that are known to the issuer, or should have been aware and which may affect the price of securities of the issuer or investor's decision to buy or sell securities;
36) public offer of securities (hereinafter public offerings)-strengthen the securitisation law acquisition or return the offer, as well as any information on the possibilities to get or give securities rights through mass information, communication or communication, if public offerings expressed at least 50 persons, or addressed to the undetermined number of persons;
37) securities transactions: a transaction in which the object of the transaction is the securities;
38) securities transactions settlement account: an account where the money is to be used only for the features the customer billing related to securities or securities transactions;
39) internal information — issuer or securities related information, which is not open to the public and the public disclosure of which would significantly affect the price of securities;
40) securities code — code that is assigned to each set of securities fungible. "
 
3. Express article 2 by the following: ' article 2. Publicly traded securities (hereinafter referred to as the publicly traded) is a serial in the securities fixed in released the acquisition or check in public offerings, as well as their public offerings. "
 
4. Article 4: make the first part of paragraph 1 by the following: "1) order in which a public limited company placed on publicly traded securities, which previously released have not been offered to the public;"
turn off the first part of paragraph 2;
turn off the first part of paragraph 3, the words "and announced";
make the first part of paragraph 6 by the following: "6) procedures for government securities are released."
Express 2 and the second subparagraph of paragraph 3 as follows: "2) non-profit organisation State joint stock company" Privatization Agency "(hereinafter referred to as the privatisation Agency) public offer pursuant to the privatization agency approved the privatisation rules and proposed securities secured the acquisition of the first;
3) municipal public offer pursuant to the municipal property privatisation project object, and thus strengthen the proposed securities law, a first-time acquisition; ";
to complement the second part with 8, 9, 10 and 11 by the following: ' 8) public limited liability companies offer shareholders exercise their pre-emptive rights to the shares closed emissions;
9) an offer of securities, with which the issuer offers securities to its employees or former employees incentives or compensation;
10) an offer of securities, which are carried out due to the bankrupt company (company) owned by the sale of securities;
11) an offer of securities, which is carried out in connection with the company (the company) mergers. "
 
5. Put article 5, third paragraph as follows: "(3) Privatizējam the national or local government property, securities, objects placed on publicly traded securities market Commission registered. Submission of information and documents, as well as securities registration procedures and deadlines determined by the securities market Commission approved regulations. "
 
6. To make article 6 the first subparagraph by the following: "(1) publicly traded dematerialised securities are marketed only."
 
7. Express article 8 by the following: ' article 8. (1) the ownership of the public securities in circulation and they secured the rights to move the securities the acquirer with the moment when the securities are securities of the acquiring securities posted to the account.
(2) publicly traded securities of property rights is evidence the entering of the investor's securities account to the account holder or the Latvian central depository, except that this article is referred to in the third subparagraph.
(3) the account holder or the Latvian Central Depositary of securities you can open the account that is listed in the person holding securities.
(4) the account holder is the only investor in the securities account holder, but not their possessor and is entitled to handle customer owned securities on behalf of customers or only in accordance with the customer's authorization or court order.
(5) if the Act is not restricted to, securities may be a bank, brokerage firm, as well as to any account holder and the account holder to the customer.
(6) a creditor claims against the bank, brokerage firm or the account holder cannot be deleted with a bank, brokerage firm or account holder customer owned securities and funds from securities transactions settlement account.
(7) after the account holder's request and in accordance with the Latvian Central Depository rules issued by the Latvian central depository account holder statement from his securities account.
(8) To the entering basic account holder will be issued to the owner of the securities the securities dispatched a receipt stating that the securities have been posted and the person is the owner of the securities.
(9) concerning the receipt of: 1) slip the Publisher's name and address;
2 the name of the issuer);
3) posted the securities;
4) posted a series of securities, class and code;
5) If securities posted is a natural person — owner of securities posted the name, surname and personal code, or, if the owner of the securities has posted a legal person — owner of securities posted the name and registration number. If the person is a natural person, or if the code is not the legal entity registration number, the person indicates a different identification mark;
6) information about the burdens in relation to the posted securities;
7) place of issue of the receipt date and number.
(10) account holder client securities accounts securities and securities transactions settlement cash accounts are kept separate from the account holder of securities and funds. "
 
8. Article 9 shall be expressed in the second part of paragraph 5 by the following: ' 5) for this law, or other securities regulators, regulatory offences to apply the sanctions provided for in this law, including to impose a fine, as well as the cases stipulated by law and order file a legal complaint against a person who violates this law or other regulatory requirements of securities market regulations. "
 
9. Turn off article 11, first paragraph, second sentence, the word "or".
 
10. in article 12: replace the second, third and fourth paragraph, the word "submission" (fold) with the word "application" (the fold);
make the third paragraph (1) of the following: "1 the emission prospectus);".
 
11. in article 15: replace the introductory paragraph, the word "application" with the words "application";
Replace in paragraph 1, the word "or" by "and".
 
12. in article 16: make the first paragraph by the following: "(1) the emission prospectus shall contain details of the issuer, its operations and financial position, the conditions of issue of securities, public offers, placing publicly traded, as well as other relevant information concerning the issuer and the issue of who should know the potential investor before investing. ';
replace the second paragraph, the words ' authorisation to place securities publicly traded "with the words" registration of securities ";
make the third paragraph as follows:

"(3) If, within 12 months after the registration of the securities the issuer placed on publicly traded securities, other new emission prospectus shall indicate only the information that has changed after the previous registration of securities and which could affect the value of securities jaunemitēt, as well as conditions for the release of securities or publicly traded. In this case, the new emission prospectus accompanied previous emission prospectus or prospectus of the new emissions gives a reference to the previous emission prospectus. "
 
13. Supplement article 17, first and fourth subparagraph after the word "Commission" with the words "the emission prospectus".
 
14. Express article 18 as follows: "article 18. (1) the Commission shall examine the application and issuance of the prospectus and shall decide on the registration or refusal of the securities within 40 days of the date of submission of the document.
(2) the Commission may determine the period during which a decision on registration of securities is to be launched from the placing of securities publicly traded, as well as the emission prospectus. "
 
15. Express article 22, first paragraph as follows: "(1) within 30 days after adoption of a Commission decision on the registration of securities, the issuer or the person who places the securities are publicly traded, posted the securities central depository of Latvia."
 
16. Make article 23 by the following: ' article 23. (1) no later than two weeks before the release of the publicly traded securities, and in accordance with article 18 of this law the second part of the issuer or the person who places the securities are publicly traded, published in the newspaper "Gazette" and at least one newspaper, the following information: 1) issuer and persons placed on publicly traded securities, name, registration number and registered office;
2) class of securities, type, category, and the total number;
3) face value of a security and selling price;
4) date to which the securities are put into public circulation;
5) emission prospectus of securities and the distribution of space and time.
(2) following the publication of the information referred to in terms of emissions may be amended only when it is consistent with the Commission and received permission from the Commission.
(3) if the issuer or the person who places the securities are publicly traded, please, the Commission may allow up to initial deployment date to change the sale price of the securities, and the initial deployment, the start and end date. The decision of the Commission with a copy to the emission prospectus added. Information about the amendments shall be published in the first part of this article.
(4) the issuer provides the opportunity to all interested parties free of charge with the emission prospectus or get a copy of the prospectus or the issue of a copy of this article in the form prescribed in the first paragraph contains the places and time. "
 
17. Make article 24, second subparagraph by the following: "(2) the securities during initial deployment by the issuer or the person who places the securities are publicly traded, not redistribute information not contained in the prospectus of emission or emission could not truly reflect the information given in a prospectus, or is in conflict with it."
 
18. off article 25.
 
19. Make to article 26 and 27 the following: ' article 26. (1) No person shall give false particulars of the public offer and public securities in circulation, including the purchase and sale of securities.
(2) the officials and employees of the issuer, as well as people who have another type of legal relationship with the issuer, may not: 1) use or disclose to third parties transmit internal information, except when such information gets transferred, or the performance of their work or professional obligations;
2) on the basis of internal information, suggest or ask a third party acquire or dispose of securities.
(3) the prohibition on disclosure of inside information to the same extent, also apply to any third party not mentioned in the second paragraph of this article, if the person is aware that the information is internal, and if the person, directly or indirectly, could only be obtained from the second part of this article persons indicated.
(4) in cases where the investor suffers a loss caused by risk factors that were not included in the emission prospectus or for which information was incomplete or incorrect, as well as the first, second and third subparagraph in cases of infringements of the provisions of the investor can claim damages from the issuer or the person who is responsible for the contravention of the provisions of this article, and legislation in order to bring damages in court.
(5) in the cases specified in this article, the issuer or the person who is responsible for the contravention of the provisions of this article, offers investors the opportunity to sell the securities, as well as the possibility to compensate the investor for losses.
27. article. (1) the issuer periodically and provide the Commission with the information specified in the type, quantity and time.
(2) the issuer has an obligation to publicly disclose information about significant events in accordance with the rules laid down by the Commission.
(3) where the issuer's securities are included in the stock exchange listing, the issuer shall also comply with the relevant stock exchange rules on disclosure and provision.
(4) the issuer who, under the law or other regulations, draw up the annual report, submitted to the Commission an annual report, as well as quarterly reports. "
 
20. Replace article 28 the number "25" with the number "27".
 
21. Supplement article 30 the first part of the sentence the following wording: "permission (license) for the operation of the stock exchange is issued for an indefinite period."
 
22. Article 33: replace the first paragraph, the words "stock" with the words "Stock Exchange issued rules";
make the second paragraph as follows: "(2) the successful stock exchange rules and any other documents that govern the first part of this article, as well as any amendments made thereto adopted by the Commission."
 
23. Article 34: supplement the article with a new first paragraph as follows: "(1) the Stock Exchange provide the Commission with the Stock Exchange's trade system existing information to the extent fixed by the Commission, and in order.";
adding to the third paragraph after the word "Council" with the words "and the Board";
consider the current first, second, third and fourth respectively on the second, third, fourth and fifth.
 
24. Article 35 be expressed as follows: "article 35. (1) the Commission, Council and Board members, as well as the staff and people who have other forms of legal relations with the Commission, the Stock Exchange Council and Board members, as well as the staff and people who have a different type of legal relationship with the stock exchange, investment advisors and other securities market professional technicians may not: 1) use or disclose to pass inside information to third parties, except when such information gets or transferred the performance of their work or professional obligations;
2) on the basis of internal information, suggest or ask a third party acquire or dispose of securities.
(2) the prohibition on disclosure of inside information to the same extent, also apply to any third party not mentioned in the first subparagraph, if the person is aware that the information is internal, and if the person, directly or indirectly, could only be obtained from the first part of this article persons indicated.
(3) the first and second part of requirement applies to such persons even after the termination of contract or other legal relationship with the Commission or the stock exchange.
(4) the persons referred to in this article, the legislation procedure and is responsible for losses incurred by investors or other securities market participants of the first and second paragraph, in the event of non-compliance. "
 
25. in article 41: make the first paragraph by the following: "(1) a Person who carries out the starpniekdarbīb securities publicly traded on the OTC market, provides: 1) conclusion of transactions;
2) joint dissemination of information which would allow the right to determine the value of the securities in the auction;
3) with the securities transactions settlement related to the organization. "
to make the third and fourth subparagraph by the following: "(3) in the case of securities that have not been included in the lists of securities of the stock exchange, the Commission is entitled to issue rules governing publicly traded their recycling.
(4) information on the OTC market of the brokering sales sensitive in accordance with the procedures laid down by that Commission. ";
Supplement fifth after the word "public" (the number and fold) with the words "or" bank "(the number and fold).
 
26. Express article 44 the following: ' article 44. (1) the central depository rules and instructions developed central depository and the approval of the Commission.
(2) the central depository rules may be amended by the general meeting of shareholders, but these amendments, as well as amendments to the instructions acquire legal effect only after it is approved by the Commission. "
 
27. Supplement article 47, third subparagraph after the word "plenary" with the word "Board".
 
28. Article 48 of the expression by the following: ' article 48. (1) the central depository Council and Board members and staff, as well as people who have another type of legal relationship with the Central Depositary, may not:

1) disclose, use or transfer to third parties of internal information, except when such information gets transferred, or the performance of their work or professional obligations;
2) on the basis of internal information, suggest or ask a third party acquire or dispose of securities.
(2) the prohibition on disclosure of inside information to the same extent, also apply to any third party not mentioned in the first subparagraph, if the person is aware that the information is internal, and if the person, directly or indirectly, could only be obtained from the first part of this article persons indicated.
(3) the first and second part of requirement applies to such persons even after the termination of contract, authorisation agreement or any other task the legal relationship with the central depository.
(4) the persons referred to in this article, the legislation procedure and is responsible for losses incurred by investors or other securities market participants of the first and second paragraph, in the event of non-compliance. "
 
29. the express article 49, first paragraph, paragraph 8 by the following: ' 8) to register the mortgage rights transactions in which the pledge is the account holder. "
 
30. the title of Chapter VI to express the following: "chapter VI. Starpniekdarbīb ".
 
31. Article 54: make the first part of paragraph 2 as follows: "2) opening securities account, holding and service.";
turn off the second part of the word "Broker";
to complement the second paragraph after the words "as well as" securities with the word "original";
adding to the third paragraph after the word "security" with the word "original".
 
32. off 55. the third and fourth.
 
33. Express and article 56.57 as follows: "article 56. (1) a permit (licence) issued by the Commission to perform starpniekdarbīb indefinitely.
(2) a permit (license) for starpniekdarbīb shall be issued in accordance with this Act and the Commission approved licensing rules.
(3) the Commission may suspend the authorisation (licence) for starpniekdarbīb in the following cases: 1) brokerage firm or bank has violated or has not complied with the Act or other laws, rules and instructions of the Commission has not complied with;
2) brokerage company or a bank is declared insolvent.
(4) the Commission may revoke the permission (license) to perform starpniekdarbīb in the following cases: 1) brokerage firm or bank has not taken starpniekdarbīb securities publicly traded for more than six months;
2) brokerage firm or bank has grossly breached the law or other laws, rules and instructions of the Commission has not complied with;
3) brokerage firm or bank has repeatedly suspended permit (license) for the law or other violations of law;
4) within the time limit fixed by the Commission does not prevent the Commission's findings of infringements of the laws.
(5) the Commission shall withdraw the authorisation (licence) starpniekdarbīb, if the brokerage firm or bank has submitted a written application for permission (license) cancellation and if it has passed the obligations to customers and to fulfil the Commission's instructions.
57. article. (1) a brokerage firm Executive and comply with the following requirements: 1) public share capital is not less than 30 000 lats and equity meets the requirements defined by the Commission;
2 for the public or the Council) member of the management board or the person signing the law, may not be the person who has been convicted of an offence against property, criminal economy, crime, public institution of a criminal offence or criminal offences against the jurisdictions against management procedures — regardless of the deletion or removal of the criminal, as well as the person who has been deprived of the right to undertake certain or all types of business;
3) provides operational internal supervision and control;
4) provides securities execution of transactions, customer account and securities business secrets;
5) conclude contracts of employment with no less than two brokers or persons authorised by the Commission (license) for the operation of the securities market.
(2) the bank could get permission (license) to perform starpniekdarbīb and would be entitled to take, it runs the starpniekdarbīb and comply with the following requirements: 1) set up appropriate structures and support this Department Administration and internal supervision;
2) provides securities execution of transactions, customer account and securities business secrets;
3) away from the bank there assets (property) of clients ' funds in a securities transaction settlement account;
4) conclude contracts of employment with no less than two brokers or persons authorised by the Commission (license) for the operation of the securities market.
(3) the Commission shall examine the brokerage firm or bank application for permission (license) to perform starpniekdarbīb and shall take a decision within 30 days of application and licensing specified document filing date. "
 
34. To supplement the law with article 57.1 as follows: "article 57.1. Brokerage firm or bank provides clients and their representatives, the Commission, at its request, as well as other bodies established by law in the cases provided for by law and order for the brokerage firms or banks held securities accounts and securities transactions settlement accounts or other cash accounts that can be used in the settlement of the securities transactions. "
 
35. Article 58 of the following expressions: "article 58. (1) Of the securities account opening, keeping and room service and task acceptance and execution brokerage company or a bank with a customer enters into a written contract.
(2) transactions in securities of publicly traded brokerage firms or banks on behalf of customers are entitled to accept the execution only brokers or the person who has permission (license) for the operation of the securities market and which has concluded a contract with a brokerage firm or bank, and for which the brokerage firm or bank by permission (license) for the acquisition of starpniekdarbīb is notified to the Commission.
(3) If circumstances hindering the brokerage firm or bank authorized broker or person personally execute the received task (Moreover, the task should not prevent), brokers or authorised person does his duty with a third party who has permission (license) for the operation of the securities market.
(4) if the task is not likely to involve a third party who has permission (license) for the operation of the securities market, the brokers of the tasks received or authorised person executed to the end regardless of the expiry date of the contract of employment or other circumstances. "
 
36. Replace article 59, second paragraph, the words "brokering agreements that brokers" with the words "contracts for securities account opening, keeping and room service and task acceptance and implementation of what the brokerage firm or bank."
 
37. Supplement article 60 of the third paragraph after the word "use" by the words "internal information as well."
 
38. Article 64: make the first paragraph by the following: "(1) an investor who acquires your property public company shares in such quantities that provide at least one-tenth or one-fourth of all votes in the general meeting of shareholders, on the seven days after acquisition of shares shall notify the Commission and the company. If the investor wants to get the insurance company shares in this part of this Act and article 65, in first investor followed by insurance companies and the supervisory provisions of the law. ";
express the sixth part as follows: "(6) if the shareholder's voting rights at the general meeting of shareholders of one tenth or one-fourth of all votes in the general meeting of shareholders or they are decreased accordingly, shares of the company's nine days from when it received the official notification of the investor about the changes in the shareholders ' voting power or otherwise became aware of the change in shareholders ' voting rights, that statement shall be published in the newspaper" Gazette "and at least one local newspaper."
 
39. Express article 65.1 as follows: "article 65.1. (1) calculation of the 64 and 65 of this law. art. voting rights, they include the right to vote: 1) obtained the third party in its own name but on behalf of the investors;
2) acquires subsidiary of investors;
3) obtained the third party under a written agreement entered into with investors about the long-term or systematic common action with regard to the management of the issuer;
4) obtained the third party under a written agreement entered into with investors on voting rights at the time of the transfer for consideration;
5) derives from the person holding the transferred shares and who is entitled to use at their discretion without a separate task from their investors;
6) provides the investors owned shares as collateral, that is in favour of a third party. If this third party control of the pledged shares the ensuing vote and announces its willingness to spend, the vote count on the voting rights of a third party;
7) acquire any other indirect way.

(2) if the first paragraph of this article, 5. voting rights set out in paragraph 1 together with other such parties to vote in the company of one of 64 or 65 of the Act. in the first subparagraph of article voting rights specified quantities, has the duty to notify the company not later than 21 days before the company's shareholders ' general meeting is convened.
(3) an investor acquires the right to vote, in the company of a certain number of shares purchased over 64 and 65 of this law laid down in article voting rights laws, after he first part of this article, the cases, as well as in the second paragraph of this article, and 64 of this law, and in accordance with the procedure laid down in article 65 and timeless has informed the Commission and shares in the company. "
 
40. Chapter VIII be expressed by the following: "chapter VIII. Article 66 liability. (1) Of this Act or of other securities regulators, regulatory offences, the Commission may impose the following penalties: 1) warning;
2) fine;
3) prohibition of securities transactions;
4) permission (license) suspension;
5) permission (license).
(2) a Person is entitled to Commission decision or order of the Court of appeal against the enforcement of sanctions within 30 days of its adoption. Appeals against decisions of the Court shall not suspend the execution.
Article 67. (1) the Commission imposed a fine person pay not later than 30 days from the time when the Commission adopted the decision on the imposition of fines.
(2) If a legal person, in the first paragraph is not paid within the prescribed period the fine imposed by the Commission under the procedure laid down in the national law apply to the courts for the recovery of fines.
(3) the Commission imposed a fine in favour of the public in General.
68. article. (1) on the commencement of the operation of the securities market without requiring permission (license) the Commission brokerage firm, bank, stock exchange or any other operators of securities for which such permission (license) issued by the Commission, imposes fines of up to 20 000 lats.
(2) If the investor did not notify the Commission of the acquisition or disposal of shares to 64 of this law, in article 65 and 65.1 in the quantities or not do so within the time limit laid down in this law, or provide false information about the resulting quantity of the shares or disposed, the Commission imposed a fine on the person of up to 20 000 lats.
Article 69. For placing of securities not registered publicly traded securities market Commission, which put the publicly traded securities are not registered in the Commission or contributed to the release of such securities publicly traded, imposing fines of up to 20 000 lats.
70. article. (1) Of this law, article 26 of the rules of the Commission the person expressed the warning or impose fines of up to 15 000 lats.
(2) if the person in the first paragraph of this article, in the cases specified in instructions of the Commission fulfil after the warning, the Commission expressed a person imposes a penalty of up to 20 000 lats.
71. article. (1) Of this law, article 9 of the second paragraph of point 3, 23, 24, 27, 28, 39, the third paragraph of article 58, 59, 60, 61 or 62. non-compliance with the provisions of article the Commission expressed alarm to the person or impose fines of up to 15 000 lats.
(2) if the person in the first paragraph of this article, in the cases specified in instructions of the Commission fulfil after the warning, the Commission expressed a person imposes a penalty of up to 20 000 lats.
(3) the Commission may request to publish the information, which the person concerned shall provide the Commission, in accordance with the first paragraph of this article, the provisions of article or publish it on your behalf, if it protects the interests of investors.
72. article. (1) If a licensed brokerage firm or bank does not comply with this law, the provisions of article 41, the Commission licensed brokerage firm or bank expresses warnings or impose fines of up to 15 000 lats.
(2) If a licensed brokerage firm or bank in the first paragraph of this article, in the cases specified in instructions of the Commission fulfil after the warning, the Commission expressed a brokerage firm or bank shall impose a penalty of up to 20 000 lats.
73. article. (1) article 63 of this law, the rules of the Commission the person expressed the warning or impose fines of up to 15 000 lats.
(2) if the person in the first paragraph of this article, in the cases specified in instructions of the Commission fulfil after the warning, the Commission expressed a person imposes a penalty of up to 20 000 lats.
74. article. (1) of this Act or of others on other securities markets regulatory breaches the laws the Commission persons expressed a warning or impose fines of up to 5000 dollars.
(2) if the person in the first paragraph of this article, in the cases specified in instructions of the Commission fulfil after the warning, the Commission expressed the person imposing fines of up to 10 000 lats.
75. article. To things about the law or about the other securities regulators, regulatory offences provide timely, comprehensive, complete and objective examination, the Commission is empowered, by order, prohibit brokerage company or a bank to do business with your own or client securities or suspend a permit (license) for the conduct of the Commission's starpniekdarbīb.
76. article. Of this law or of other securities markets regulatory non-compliance with the laws and the Commission is entitled, by order, revoke the permission (license) to carry out the Commission's starpniekdarbīb. "
 
41. the transitional provisions be supplemented with 11, 12 and 13 as follows: "11. Permit (license) for the operation of the Stock Exchange issued up to 1 July 2000, is valid until the permit (license) for the operation of the stock exchange indicated expiry date.
12. Authorization (license) starpniekdarbīb, issued to a brokerage company or a bank until July 1, 2000, is valid until the authorisation (licence) to perform starpniekdarbīb the expiry date.
Amendment 13 Article 8 of the law, the first subparagraph shall enter into force on 1 October 2000. "
The Parliament adopted the law of 25 May 2000.
Riga, 14 June 2000, the State President Vaira Vīķe-Freiberga V.