Amendments To The Cabinet Of Ministers Of 27 May 2003, Regulations No. 272 "provisions Of The State Funded Pension Scheme"

Original Language Title: Grozījumi Ministru kabineta 2003.gada 27.maija noteikumos Nr.272 "Noteikumi par valsts fondēto pensiju shēmas darbību"

Read the untranslated law here: https://www.vestnesis.lv/ta/id/154440

Cabinet of Ministers Regulations No. 177 in 2007 Riga March 13 (pr. No 18 5) amendments to the Cabinet of Ministers of 27 May 2003, regulations No. 272 "provisions of the State funded pension scheme" Issued under the State funded pension law article 3, third paragraph, the second paragraph of article 5, article 10, first paragraph, point 5, second subparagraph, and article 11, third and sixth and article 13 of the sixth and seventh subparagraph 1. make Cabinet 27 May 2003, the provisions of the "rules on no 272 State funded pension scheme" (Latvian journal , 2003, no. 82; 2004, 81 no). 1.1. the following amendments: to replace the text, the words "investment company" (the fold) with the words "investment management company" (the fold);
1.2. make point 7 by the following: "7. Management's original choice for the provision in paragraph 3 that person performs the following: 7.1. the Agency shall, not later than 30 working days from the date of registration sends the notification to the persons concerned about the registration for participation in the scheme and plan according to this provision the requirements referred to in point 7.1, as well as the right to choose other funds Manager, indicating the investment plan;
7.2. If a member of the scheme application received by the agency within two months of the rules referred to in point 7.1. date of dispatch of the notice, the Agency shall register the schema management selected participants investment plan and is considered a member of the scheme;
7.3. If, within two months from the rule referred to in paragraph 7.1. date of dispatch of the notice of the application to the members of the scheme have not received by the Agency, the Agency launched a scheme member contributions recorded in the accounts of the management of the transfer of rule 7.1. notification referred to in the management and the contributions that the investment plan includes the account custodian, and is considered a member of the scheme;
7.4. If a scheme member submission at the Agency received more than two months after this rule 7.1. referred to the date of dispatch of the notice, the application to the Agency shall be executed in accordance with the rules referred to in paragraph 34. ";
1.3. to supplement the provisions under 7.1 points as follows: "the Agency decides on the diagram 7.1 management plan and investment choice or change in the following order: 7.11. sharing schemes the Agency participants between funds managers, if they are occupational pension schemes management at least a year (from the date when the funds Manager has entered into an agreement with the Agency) and the financial and capital market Commission (hereinafter the Commission) is a registered investment plan where the investment policy of the investment company provided shares, other equity securities and pielīdzināmo securities. Each Member of the scheme funds Manager in the distribution of participating with one such investment plan;
7.12. the distribution process of the corresponding investment plan shall be sorted according to the date of registration in the Commission, starting with the earliest date. The investment plan in each alphabetically recorded one of the participants of the scheme. If the investment plan is less than the scheme members to be registered, registration, continue, the remaining members of the scheme by registering in the same order as the previous. ";
1.4. to make paragraph 9 by the following: "9. the Agency, representing the members of the scheme, the written agreements with investment management companies that are licensed by the Commission, respectively, for the management of the scheme (hereinafter referred to as the Treaty) under the terms laid down in the annex.";
1.5. make 26.1. the introductory part of point as follows: "26.1. prior to the conclusion of the contract funds Manager has entered into custody agreement where additional custodian contract requirements of investment management companies are also provided for in the Act, custody responsibilities:";
1.6. to make 35 and 36 the following: "35. If the Commission withdraws the management of special permission (license), the investment management company, or a special permission (license) to manage the funds of the scheme shall comply with the following procedure: 21.8. from the special permissions (licenses) the date of cancellation, the Agency has transferred funds to other fund managers, managing the funds of the scheme shall take custody;
35.2. the Agency shall, not later than within five working days of receipt of the information on the special permission (license) the cancellation of the scheme members that occupational pension capital Manager special permit (license) is reversed, distributed between the managers of the funds under this provision the requirements referred to in point 7.1 and send them notices about special permissions (licenses) of the cancellation before the selected management and registration for participation in the investment plan according to this provision the requirements referred to in point 7.1 as well as the right to choose other funds Manager, indicating the investment plan.
36. If the funds Manager even wants to withdraw from the management of the scheme shall comply with the following procedure: 36.1. funds manager not later than four months before the termination of the Administration want to make an appropriate application to the Agency and the Commission;
36.2. If, due to the refusal of the management scheme of the management of the Commission decides to revoke the relevant to the management of special permission (license), the agency managing the management schema features puts other fund managers according to the rules referred to in paragraph 35;
36.3. If within 15 working days, the Agency has received the communication from the Commission on this rule in the case referred to in paragraph 36.2. the membership of the Agency, no later than 20 working days following this rule 36.1. receipt of the application referred to the scheme members that occupational pension funds managed by the funds Manager, distributed between the managers of the funds under this provision the requirements referred to in point 7.1 and send them notices about the Media Manager's refusal to continue funded pension capital management and registration for participation in the investment plan according to this provision the requirements referred to in point 7.1 as well as the right to choose other means of indicating investment managers plan. ";
1.7. to express in this paragraph 23.1: "37.1. the right to manage the occupational pension scheme from management over the custodian with the date by which the Commission authorized the reorganization of management;"
1.8. replacing the number "40" with the number "35.3.35.2.";
1.9. to make 41 as follows: "41. The members of the occupational pension scheme in the capital, which the application for a management or investment changes have not made the agency within two months of 21.9. these provisions or 36.3. referred to the date of dispatch of the notice, the Agency served in the administration of these regulations or section 35.2.36.3. in that notice given to management and clearing the capital of pension investment plan account custodian.";
1.10. replace paragraph 44 and 45 "." with the number "35.3 35.2.";
1.11. the express 51 as follows: "After the recording of contributions 51. scheme member accounts and based on the participants ' choice of management and investment plan, as well as, if the Agency decided on the transfer of funds under the management of these provisions 7.1 the requirements referred to in point selected for management, the Agency shall, not later than within five working days of paid contributions in the relevant investment plan account custodian.";
1.12. paragraph 76 deleted;
1.13. delete paragraph 79;
1.14. delete paragraph 80.
2. Rule 1.4, 1.5, 1.7, 1.12, 1.13 and 1.14. subparagraph shall enter into force by 1 November 2007.
3. Regulations shall enter into force by 1 august 2007. Prime Minister a. Halloween Finance Minister o. Spurdziņš