Advanced Search

The Amendments To The "insolvency Practitioner Of The Credit Institution And The Liquidator Of Candidate Selection, Regulatory Provisions"

Original Language Title: Grozījumi "Kredītiestādes maksātnespējas procesa administratora un likvidatora amata kandidātu atlases normatīvajos noteikumos"

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now for only USD$40 per month.
Financial and capital market Commission, the provisions of regulations No 157 in 2016 on September 28 (financial and capital market Commission Council meeting Protocol No 34 4. p.)
"The amendments to the insolvency practitioner of the credit institution and the liquidator of candidate selection rules, regulations issued under the public administration Act, article 72 of the equipment for the first part of paragraph 2 to make financial and capital market Commission 12.03.2014. normative regulation No 39" credit the insolvency practitioner and the liquidator's nominee selection regulations "(hereinafter-the rules) the following amendments: 1. Make paragraph 5 by the following:" 5. every calendar year but no later than 31 March, the Commission asked the Administrators Association in writing to provide the possible insolvency of the credit institution administrator candidate (insolvency administrator) list, which includes up to five credit institutions to the insolvency practitioner and the candidate is prepared taking into account the candidate for additional education and experience in the supervision of credit and financial instruments in the application of the regulatory framework, professional activities, conducting public insolvency processes pursuant to this insolvency proceedings volume and complexity the resources available to the candidate, the insolvency practitioner and the candidate during the last two years of the professional activities carried out compliance with laws and regulations. " 2. Make paragraph 6 by the following: "6. If administrators Association has submitted a list of more than five credit institutions to the insolvency practitioner's job candidates, the Commission, with the participation of representatives of the Association, the Administrator performs the candidates drawing lots to create a list of candidates with no more than five candidates. Administrators Association representatives did not participate in the raffle will not affect lottery. " 3. To supplement the provisions under point 6.1 the following wording: "6.1 After the credit institution's insolvency practitioner candidate list, the Preparatory Commission shall immediately send a written request for information to law enforcement authorities, asking for the information in their possession on all credit administrator candidate, as well as the corruption prevention and combating Bureau, asking for information, or for any of the credit institution's insolvency administrator candidate-according to the law" on prevention of conflict of interest in the activities of public officials "is not found in the previous step it for offences in relation to the prevention of conflicts of interest." 4. Replace paragraph 7, the word "nomination" with "candidate". 5. Make paragraph 8 by the following: "8. The Commission requests raised five credit institutions to the insolvency practitioner's job candidates to provide in writing your vision about a possible plan of the measures to credit institutions for the conduct of the insolvency proceedings, including further actions, the insolvency practitioner's planned team composition for the success of the insolvency proceedings and the planned deadline for the completion of the insolvency proceedings. The Commission calls for an interview the first three credit institutions of the insolvency practitioner, the candidate submitted a plan of the measures to credit institutions for the conduct of the insolvency proceedings in the Commission's view, most provision to ensure protection of the interests of the creditors of the credit institution and effective insolvency proceedings. " 6. Exclude paragraph 9, the words "and calls for an interview the next candidate from the priority of the credit institution created by the insolvency practitioner candidate list". 7. Supplement 11 and 18 behind the words "insolvency administration" with the words "and law enforcement". 8. Make the following point 12: ' 12. every calendar year, but not later than 31 March to the Commission in writing: 12.1. Lawyer Council requesting the credit institution may designate a liquidator (Attorney) a list that includes up to five credit institutions and candidates for the Office of liquidator is drawn up, taking into account the experience in the supervision of credit and financial instruments in the application of the legal framework, the duration of the candidate Attorney College the qualification obtained points to the existing disciplinary measure and whether the person in addition to sworn lawyer qualification is awarded to the insolvency practitioner's certificate; 12.2 the Auditors for Association requesting the credit institution may designate a liquidator (Certified Auditor) list, which includes up to five credit institutions and candidates for the Office of liquidator is drawn up, taking into account the experience in the supervision of credit and financial instruments in the application of the regulatory framework, certified auditor in the last two years of the professional activities carried out compliance with laws and regulations, professional company in liquidation proceedings, subject to the amount of the salvage process and complexity of sworn auditors of the resources available to ensure the process of winding the ability to work increased tensions, a candidate for education (for natural persons) and profits and turnover (certified auditor commercial companies. The Commission requested the preparation of a credit institution may designate liquidators list of certified auditor commercial companies specify people who can authorise the law of credit institutions under article 131 of the second part. " 9. Make the following paragraph 13: "13. If the Bar Council or the auditor of the Association has submitted a list of more than five credit institutions to designate a liquidator, the Commission, with the participation of the Bar Council and the representatives of the Association of Auditors, do candidates drawing lots to create lists of candidates with no more than five candidates from each of the professional associations submitted candidates. The Bar Council and of the representatives of the Association of Auditors do not participate in the raffle will not affect lottery. " 10. Supplement with 13.1 points by the following: "13.1 credit institutions By the liquidator to the list of candidates for the Office of the Preparatory Commission shall immediately send a written request for information to law enforcement authorities, asking for the information of all the credit institutions to designate a liquidator, as well as the corruption prevention and combating Bureau, asking for information, or for any of the credit institutions to designate a liquidator, who is also the insolvency practitioner , according to the law "on prevention of conflict of interest in the activities of public officials" is not found in the previous step it for offences in relation to the prevention of conflicts of interest. " 11. Make a point 15 as follows: "15.  The Commission asked the raised five credit institutions to the liquidator's job candidates from each of the professional associations in writing to present their vision for the potential of the measures to the plan of liquidation of the credit institution to manage the process, including further steps planned by the liquidator of the composition of the team for the success of the process of liquidation and winding-up of the planned time to complete it. The Commission calls for an interview the first three credit candidates for the Office of a liquidator, which submitted the plan of measures to credit institutions in liquidation proceedings in the Commission's view, most provision to ensure protection of the interests of the creditors of the credit institution and effective liquidation proceedings. " 12. Turn off paragraph 16, the words "and calls for an interview the next candidate from the established priority of the credit institution may designate a liquidator lists". 13. To supplement the rules with 20 and 21 as follows: "the amendments to rules 20.5, 6, 12 and 13 relating to the possible insolvency of the credit institution's administrators and the liquidators in the nominee list is suitable preparation, starting with 01.01.2017.  21. Amendments to the rules in paragraph 8 and 15 in relation to the insolvency practitioner of the credit institution and the liquidator of candidate selection procedures are applied, beginning with 01.11.2016. " Financial and capital market Commission and the President of p.i. licensing legal department director g. Romeik-