Law of 26 March 1998, laying down new provisions on De Nederlandsche Bank N.V. in connection with the Treaty establishing the European Community (Bankwet 1998)
We Beatrix, at the grace of God, Queen of the Netherlands, Princess of Orange-Nassau, etc. etc. etc.
All those who will see or hear them read, saluut! to know:
As we have considered, it is necessary to rearrange the objectives, tasks and activities of De Nederlandsche Bank N.V. in connection with the Treaty establishing the European Community and the establishment of a European System of Central Banks, provided for in that Treaty, of which De Nederlandsche Bank N.V. is to be established in respect of the tasks and obligations of the Convention to that System The following shall be considered to be an integral part;
It is the same as that we, the Council of State, and with the general consultations of the States-General, have found and understand the same as We approve and understand this:
1 In this law, and the related provisions are defined as:
a. the Bank: De Nederlandsche Bank N. V.;
b. Our Minister: Our Minister of Finance;
c. the Treaty: the Treaty on the Functioning of the European Union;
d. the European Central Bank: the European Central Bank provided for in Article 13 of the Treaty on European Union;
e. the European System of Central Banks: the European System of Central Banks as referred to in Article 282, first paragraph, of the Treaty;
f. the Statute of the European System of Central Banks: the Statute of the European System of Central Banks and of the European Central Bank, referred to in Article 129, second paragraph, of the Treaty;
g. Regulation of counterfeiting: regulation (EC) 1338/2001 of the Council of the European Union of 28 June 2001 laying down measures necessary for the protection of the euro against counterfeiting (PbEG 2001, L 181);
h. Regulation of the Single Resolution Mechanism: Regulation (EU) No. Council Regulation (EC) No 806/2014 of the European Parliament and of the Council of 15 July 2014 establishing uniform rules and a uniform procedure for the settlement of credit institutions and certain investment firms in the framework of a single market settlement mechanism and a common bank resolution fund and amending Regulation (EU) No European Parliament and Council (PbEU 2014, L 225).
2 The Bank is an integral part of the European Union. System of Central Banks with regard to the tasks and obligations of the Convention which the Treaty imposes on that System.
1 In implementation of the Treaty, the Bank has the objective to maintain price stability.
2 To implement the Treaty, without prejudice to the objective of price stability, the Bank shall support the general economic policy of the Bank. policies in the European Union to contribute to the achievement of the Union's objectives set out in Article 3 of the Treaty on European Union.
3 The Bank acts in accordance with the principle of an open market economy with free competition, with a promoting efficient allocation of resources, and taking into account the principles set out in Article 119 of the Treaty.
4 The Bank also aims to perform tasks other than those specified in
1 For the purposes of implementing the Treaty, the Bank shall contribute, within the framework of the European System of Central Banks, to the fulfilment of the following: tasks
a. the determination of monetary policy and the implementation of that policy;
b. the conduct of foreign exchange operations in accordance with Article 219 of the Treaty;
c. the holding and management of official foreign reserve assets;
d. the taking care of the cash flow insofar as it consists of banknotes;
e. the promotion of the smooth operation of payment systems.
2 For the purposes of implementing the Treaty, the Bank shall contribute, within the framework of the European System of Central Banks, to sound policy of the competent authorities regarding the prudential supervision of banks and the stability of the financial system.
3 For the purposes of implementing the Treaty, the Bank shall be allowed to perform its tasks and duties under the first and second paragraph instructions to ask and accept only the European Central Bank.
1 The Bank has the task:
a. the supervision of financial institutions at the level of the statutory arrangements in force;
b. promoting the smooth operation of payment systems;
c. promoting the stability of the financial system;
d. the collection of statistical data and statistics on the basis of the relevant legal arrangements;
e. the exercise of settlement tasks in respect of banks and investment firms on the basis of the applicable legal arrangements.
2 The Bank may carry out the tasks referred to in paragraph 1 in the public entities Bonaire, Sint Eustatius and Saba, at the base of the applicable legal arrangements.
3 The Bank may, after being allowed by royal decree, be in the public interest, both in the European part of the Netherlands and in the public sector Bonaire, Sint Eustatius and Saba perform other duties other than those mentioned in this law.
The Bank takes in the performance of its duties referred to in Article 4, first paragraph, part (e), that recourse to public funds shall be avoided. If, in order to achieve the resolution objectives referred to in Article 14 of the Single Resolution Mechanism, an appeal for exceptional public financial assistance is unavoidable, that action shall be limited to that of the necessary to achieve those objectives.
The Bank is has competence to carry out those activities necessary for the implementation of the tasks referred to in Article 3 and Article 4 , including in particular the activities of This paragraph has been mentioned. The Bank shall carry out this work in accordance with the Treaty.
The Bank is competent to issue banknotes.
The Bank is have the power to assist the European Central Bank in the collection of data in accordance with Article 5 of the Statute of the European System of Central Banks.
1 The Bank is empowered to conduct transactions in the financial markets, including the receipt of funds in current account of the account holders, the retention of securities and other items of value and the provision of credit operations to the extent that they are covered by adequate collateral.
3 At The Request of Our Minister shall provide the Bank with the work referred to in paragraph 1 for the benefit of the State and for the institutions set up by law or by Royal Decree.
4 At the request of our Minister, and by way of derogation from the first member, the Bank shall provide the State, whenever the Minister this is necessary for the orderly resolution of payments against the State, credit in current account, without collateral and against a remuneration to be agreed between Our Minister and the Bank. The State shall be obliged to pay such appropriations on the day on which they were issued.
The Bank may be after permission by royal decree:
a. hold holdings in the capital of legal persons, institutions and organisations in which its participation in the capital is not already regulated by or under the Treaty or by law;
b. participate in the work of legal persons, of institutions and of organisations in which its participation in the work of, or under the Treaty or by law is not already regulated;
c. in general to carry out any other work other than that referred to in this paragraph.
1 Credit institutions, payment service providers, and economic operators as referred to in Article 6, first paragraph, of the valsemate regulation verify all euro banknotes received For their suitability for circulation before putting these banknotes back into circulation.
2 The fitness checking of euro banknotes shall be carried out in accordance with the procedures established for that purpose by the European Central Bank.
3 Euro banknotes unfit for circulation, to be delivered by the institutions referred to in paragraph 1 to the Bank.
4 The Bank reimburses the nominal value of the euro banknotes which have been surrendered pursuant to the third paragraph.
1 With the verification of compliance with Articles 9a, first to third paragraph, and, to the extent that that Article is related to euro banknotes, Article 6 (1) of the Regulation shall be responsible for the persons designated by a decision of the Bank.
2 Of a Decision as referred to in paragraph 1, communication shall be made by placing in the State Official Journal.
1 The Bank has the authority to impose a penalty under penalty payments to enforce:
2 The Bank also has the power to impose an administrative fine on the Board of the European Union. violation of the articles referred to in paragraph 1.
3 In the case of a general management measure, the description of the items to be used infringement of the amount of the administrative penalty to be imposed, except that the administrative penalty for a separate infringement shall not exceed € 50 000. If no five years have elapsed since the offence has been committed since the imposition of an administrative fine on the offender for the same offence, the amount of the administrative penalty, as referred to in the first sentence, shall be paid, doubled for a separate violation.
4 If against a decision to impose an administrative fine or appeal It shall suspend the obligation to pay the fine until the expiry of the period of appeal or, if appeal has been lodged, to the appeal. The suspension of the obligation to pay does not suspend the calculation of statutory interest.
1 The Bank is authorized to perform tasks as referred to in Article 4, first paragraph, parts c and d, or to satisfy information requests of international organisations designated by a general measure of management, using data, other than personal data within the meaning of the Personal Data Protection Act, from registrations that:
a. be maintained by the institutions and services of the State or by self-employed government bodies at the level of central government, in connection with the performance of a statutory task;
b. be kept up to date by legal entities designated by general management and exercising a task governed by or regulated by law, or in whole or in part, directly or indirectly, from resources of the State or from the proceeds of the act Taxes imposed by or under the law.
2 To the extent that the acquisition referred to in the first paragraph is not the necessary data, the Bank is empowered to apply to general management measures, other than personal data within the meaning of the Personal Data Protection Act, to categories of undertakings, free professionals, institutions and legal persons, designated in that measure.
3 The first provide the institutions, services and autonomous administrative bodies referred to in paragraph (a), the legal persons referred to in subparagraph (b) of that paragraph and the undertakings referred to in paragraph 2, free professionals, institutions and legal persons the information referred to in those paragraphs at the request of the Bank within a period to be determined by a general management measure. Confidentiality obligations cannot be invoked unless these obligations are based on international regulations.
4 The transmission of data referred to in paragraph 3 shall be free of charge, unless otherwise provided for in the case of a general measure of management. Rules governing the type of costs and the amount of the costs to be charged to the Bank may be laid down or under general management measures.
1 The data received by the Bank pursuant to article 9d , except the second member, is used exclusively for statistical purposes and economic analysis.
2 The organizational unit of the Bank that is in charge of theinitem The task referred to in paragraph 4, first paragraph, subparagraph (c) or (d) may provide the information referred to in paragraph 1 to organisational parts of the Bank responsible for another task, provided that such information, whether directly or indirectly, comes from the Commission. financial institutions on which the Bank supervises the relevant legal arrangements.
3 The first Member of the European Parliament and of the Council of the European Parliament and of the Council of the European Parliament and of the Council of the European Parliament and of the Council of the European Parliament and of the Council of the European Parliament and of the Council of the European Parliament and of the Council of the European Parliament, the id="C31486911"> Article 9f Compare versions Save Relationships (...) (External Link) Permanent link
By deviation of Article 9d, first paragraph, with due regard to their information requests, with due regard to the information provided in the Annex. "
1 The Bank is empowered to impose a charge under penalty payments to enforce article 9d, third member, if the first member, part b, of that article, and the undertakings, freedom of professionals, institutions and legal persons referred to in the second paragraph of that Article, shall not, in good time or in full, complete the information referred to in those Article
2 The Bank shall also be responsible for imposing an administrative fine on infringement of: hoogsteArticle 9d, third member. Article 9c, third and fourth member, shall apply mutatis mutandis, except that the administrative penalty for a separate infringement shall not exceed: € 10,000.
Article 153 of Book 2 of the Civil Code does not apply to the Bank.
Terms of book 2 of the Civil Code that, when applied to the Bank, yield ironing with the Treaty or the Statute of the European System of Central Banks does not apply to the Bank. For the purpose of implementing Article 131 of the Treaty, such provisions shall be designated by general management.
1 The Executive Board of the Bank is in charge of controlling the Bank. The Executive Board shall be composed of a President and at least three and a maximum of five directors.
2 The President and the Directors are appointed by royal decree for a period of seven years. Reappointment may take place in the same function once. For each appointment, a three-person recommendation list shall be drawn up by the (supervisory) board.
3 Prior to drawing up the recommendation list, the supervisory board shall draw up a function profile, the supervisor, the supervisor.
4 The President and directors may no longer fulfil the requirements for the performance of their duties or if they are guilty of serious misconduct by a royal decree or are removed from office. Waiver from the function also takes place on your own request.
5 Our Minister is responsible for making the announcement in the State Official Journal of the European Communities. the royal decrees referred to in this Article.
6 With respect to the tasks and activities to accomplish the The Executive Board shall assume the status of the President as a member of the Governing Council and of the General Council of the European Central Bank in accordance with the provisions of Article 2 (1) of the Treaty. eight.
7 The salaries and pension commitments, and expenses reimbursement arrangements of the President and the directors are determined by the supervisory board and approved by Our Minister.
1 In or under the Statutes it can be determined that tasks of the Executive Board arising from Article 4, first paragraph, part a, become must be assigned to one or more directors and may act on behalf of the Bank on this matter. Provision under the statutes referred to in the first sentence shall be made in writing.
2 The managing director or directors to whom the tasks shall be provided for in paragraph 1, may be authorised by the Executive Board to exercise the powers necessary for the performance of those tasks, unless the scheme in which the power is based on such tasks may be opposed to such tasks. resistance.
3 Without prejudice to the Articles 4:81 , and 10: 6 of the General Administrative Law Act includes the authorisation referred to in the second paragraph, the power to determine policy in respect of the tasks referred to in the second paragraph of the Act. member, unless it is excluded in a mandating decision.
1 One of the directors is in charge of the execution of the task, referred to in Article 4, first paragraph, part e. This Director shall not also be responsible for the performance of the tasks referred to in the Articles 3 and 4, first paragraph, part (a), in so far as it concerns the supervision of banks, and part c.
For decision-making in the management, where the task, referred to in Article 4, first member, is part (e) shall be exercised, as referred to in the first paragraph, by the same number of votes as the other members of the Executive Board. In the event of a tie, the head of the director shall decide, as referred to in paragraph 1.
3 The second paragraph shall not apply to the following: decision making application of the Articles 3A: 9 to 3A: 11 of the Financial Supervision Act , and Articles 8 to 11 of the Regulation settlement mechanism.
1 The board of directors is made up of at least seven and up to ten members.
2 One member of the supervisory board is appointed by government, each time for a period of four years.
3 The chairman and the other members of the board of directors shall be appointed by the shareholders of a three-person nomination for each place to be filled out for a period of four years, put up by the board of directors. Prior to drawing up the nomination, the Supervisory Board will draw up a job profile.
4 In the absence of the Chair is chaired by another member appointed by the meeting.
5 The members of the Board of the (b) Commissioners may be suspended or removed from office by shareholders if they no longer meet the requirements for the performance of their duties or are guilty of serious misconduct. Waiver from the function shall also take place at its own request.
6 Having regard to the provisions of the Treaty and the Statute of the Convention the European System of Central Banks, the supervisory board shall monitor the general conduct of the Bank and the management policies for the implementation of Article 4. (2) Commissioners shall assist the Executive Board and shall adopt the annual accounts. The audited financial statements need the approval of the shareholders.
1 For the benefit of Our Minister, the person appointed as a member of the supervisory board pursuant to Article 13 (b) at the request of Our Minister, or from its own initiative, and with taking into account, in accordance with Article 130 of the Treaty, the Management Board of the Bank of information and intelligence on the way in which the Bank carries out its tasks. He may, at the request of Our Minister, or on his own initiative and in accordance with Article 130 of the Treaty, make his findings known to Our Minister.
2 The management of the Bank shall be the person referred to in the first paragraph on request of all such information and information. to provide, with the exception of information and information required by the Treaty or in Article 4, the proper exercise of his duties as referred to in the first paragraph, be secret legal arrangements.
1 There is a banking board, consisting of at least eleven and a maximum of thirteen members, to know:
a. the member of the supervisory board referred to in the second paragraph of Article 13 ;
b. one member of the Supervisory Board from among their members;
c. at least nine and up to eleven members who are appointed for four years by the Banking Council.
2 The appointment of members referred to in paragraph 1 (c) shall be made out of a recommendation list of at least two persons. for each place to be filled, to be completed by the Management Board of the Bank, aiming at representation of the various societal transfers.
3 The bank board appoints a chair from its center. In the absence of the President, the Presidency shall be held by a member appointed for that purpose by the Assembly. The Secretariat shall be provided by the Bank.
4 The board of the Bank and the thesaurier general or his deputy attend and be able to attend the meetings of the Banking Council. take part in the deliberations.
5 The President of the Bank reports to the Banking Council on the general economic and financial development and discusses with the Bank's policy on the Bank's policy. It shall also discuss the subjects to be brought to the table by one or more members in relation to the objectives, tasks and activities of the Bank.
1 The Bank, subject to the Treaty and after consulting our Minister, establishes internal guidelines for the management of securities, money-worthy papers, and gold and gold. foreign currency reserves which have not been transferred to the European Central Bank in accordance with Article 30 of the Statute of the European System of Central Banks, taking due account of the interests of the State.
2 The Bank is authorized to form reserves after profit determination, with the permission of our Minister. Deposits and retractions to these reserves require the permission of Our Minister.
1 The articles 2:363, sixth paragraph, 2:380, 2:383, second paragraph, second sentence, excluding outstanding amounts, as well as the Sections 3 and 4 of Title 9 of the Civil Code do not apply to the Bank. The Bank may, for the purposes of determining the result, make the valuation of the investments, securities and currencies based on foundations which deviate from the provisions of Article 2:384, first paragraph, second sentence, or second sentence, second sentence, of the Civil Code insofar as it is in accordance with the provisions of Section 14 of Title 9 of Book 2 of the Civil Code.
2 Of The Terms of Title 9 of Book 2 of the Civil Society In addition, the Bank shall derogate from the Bank where, in the opinion of the supervisory board, it is necessary for the achievement of the objectives referred to in Article 2 .
3 Of The Terms of Title 9 of Book 2 of the Civil Society Moreover, in so far as that derogation is necessary in order to give effect to instructions as referred to in Article 3 (3) of the Code, the Bank shall deviate from the Code. The Bank shall immediately inform the Supervisory Board of the derogation.
1 Our Minister is empowered, subject to Article 130 of the Treaty, to carry out the Bank with respect to the tasks and work to accomplish the in Article 2, first paragraph of the first paragraph of the Treaty.
2 The Bank is required to comply with Article 10.4 and Article 37 of the Statute of the European System of Central Banks provide to our Minister the information and intelligence referred to in the first paragraph.
With respect to the tasks and The President of the Bank may, subject to Article 130 of the Treaty and Articles 10.4 and Article 37 of the Treaty, work in order to achieve the objective referred to in Article 2, first paragraph. Statute of the European System of Central Banks, heard by each of the two Chambers of the States-General at their request.
To the extent that this law is intended to execution of the operations to achieve the objective referred to in Article 2, first paragraph, it shall be the object of any person taken by the application of this Law or by virtue of that law take any duties, prohibit or otherwise use or otherwise make use of any information or information obtained from that task or otherwise than for the performance of his or her task or by that law. shall be required.
1 [ Red: Expired]
2 The articles 229i-k of the Commercial Codedo not apply to banknotes.
3 At or under general management measures, rules may be imposed regarding the exchange, withdrawal and the signature of banknotes by the Bank, as well as the information to be provided by the Bank to the public.
4 This item or part thereof expires on a date to be determined by royal decree.
1 The appointment for the first time of the members of the board of directors referred to in article 13, third member, is done by the shareholders within 8 weeks of the entry into force of this Act. At that time, the Commissioners, appointed in accordance with Article 27 of the Banking Act 1948, resign.
2 The members of the supervisory board appointed for the first time, referred to in Article 13, third paragraph, by way of derogation from Article 13 (3), shall cover the period of one to four years according to a schedule to be set up by the (supervisory) board.
1 The appointment for the first time of the members of the banking board referred to in Article 15 (c)is done by the Bank within 8 weeks of the entry into force of this Act. At that time, the members of the Banking Council, appointed in accordance with Article 32 of the Banking Act 1948, shall resign.
2 The members named in accordance with the first member shall sit for a period of one to four years, according to one by the Banking Board on schedule to be set.
The Banking Act 1948 retracted.
The law of 11 January 1956 laying down detailed rules for the implementation of Article 17 of the Law on Bankwet 1948.
The articles of this law to operate on a date to be determined by royal decree, which may be determined differently for the various articles or parts of such articles.
This law is quoted as: Bankwet 1998.
Orders and orders that it will be placed in the Official Gazette and that all ministries, authorities, colleges and officials, who so concern, will keep their hands on the precise execution.
Given in The Hague, 26 March 1998
G. Zalmissued the ninth April 1998
The Minister for Justice,