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Decision ex Article 2 Law on savings certificates

Original Language Title: Besluit ex artikel 2 Wet inzake spaarbewijzen

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Decision of 11 March 1987, laying down general rules for the declaration of the system of issuing, marketing and payment of savings certificates as referred to in Article 2 of the Act on Savings Certificates

We Beatrix, at the grace of God, Queen of the Netherlands, Princess of Orange-Nassau, etc. etc. etc.

On the nomination of Our Minister of Finance, Generale Thesaurie, Directorate Of Domestic Money of 27 February 1987 no. 387-1784;

Having regard to Article 2 of the Act on Savings Proproving ( Stb. 1985, 293);

Have found good and understand:


Article 1

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  • 1 In respect of undertakings and institutions issuing savings certificates, the following shall be declared universally applicable:

    • (a) the Agreement of 11 May 1981 between De Nederlandsche Bank N.V. and the representative organizations referred to in Article 1, point d, of the Savings Evidence Act on a uniform line of conduct in respect of savings certificates not on the name, in so far as it concerns savings certificates issued after 10 May 1981 but before 2 February 1987; and

    • (b) the Agreement of 2 February 1987 between De Nederlandsche Bank N.V., the representative organizations referred to in Article 1, point d, of the Savings Evidence Act and the Postbank N.V., on the establishment of a standardised, uniform line of conduct in respect of savings certificates issued on the name, in so far as it concerns savings certificates issued after 1 February 1987.

  • 2 The text of the agreements referred to in paragraph 1 shall be annexed to this Decision.


Article 2

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This Decision shall enter into force from the day following the issue of the State Sheet where it is placed.

Our Minister of Finance has been entrusted with the implementation of this Decision which is in the annexes and the note of explanatory notes in the State Sheet will be placed.

' s-Gravenhage, 11 March 1987

Beatrix

The Minister of Finance,

H. O. C. R. Ruding

The Secretary of State for Finance,

H. E. King

Published on the seventh April 1987

The Minister of Justice,

F. Korthals Altes


Agreement of 11 May 1981 on the establishment of a uniform line of conduct in respect of savings certificates not given on the name of the name

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Having regard to the desirability of:

  • (a) to make the administrative settlement of transactions in new non-name savings certificates in line with the existing line of business with regard to securities listed on the stock exchange in general, and

  • (b) to lay down detailed rules for the publication of, and form of, savings certificates

................, hereinafter referred to as

prepare an agreement with De Nederlandsche Bank N.V., hereinafter referred to as "the Bank", with the aim of establishing a uniform approach in this regard.

From this point of view, and considering that the law will be prohibited from commercial marketing, other than through the intervention of a member of the Association for Securities Trading, it will be prohibited by or on behalf of the undertaking or institution which it is issued paper, of non-published savings certificates issued after 10 May 1981 (hereinafter referred to as 'new savings certificates'), undertakes, on behalf of the institutions which are affiliated to it, to comply with the following rules in respect of such new savings certificates:

  • 1. In the case of transactions in the new savings certificates, a registration note shall be made with at least the following information:

    • -the name and address of the person with whom the transaction was carried out;

    • -the nature of the transaction,

    • -a clear description of the number and type of savings certificates.

    Transactions shall in any case mean issue, purchase, sale, exchange and cashing-up.

  • (2) The identification of the name and address referred to above is due to the care taken in the social services sector. If it can be determined that the given name and address are incorrect or if the person concerned does not wish to give a name or address, the transaction shall be waived.

  • (3) The obligation referred to in point 1 shall be recorded on the new savings certificates not recorded on the stock exchange.

  • (4) For publications relating to the new savings certificates, the term 'toinclude' shall be waived. The indication of the toundercharacter on the paper itself is henceforded only in the form normally used in the case of securities in general.

  • (5) The uniform line of conduct laid down in points 1 and 2 shall only seek to establish conformity with the existing line of conduct with regard to securities listed on the stock exchange in general. If the latter are to be seen by individual institutions to deviate from what has been stated here, these institutions will adjust their line of conduct in respect of securities quoted on the stock exchange accordingly.

  • (6) The Agreement shall apply for an indefinite period, on the understanding that it shall be terminated not later than six months after the date of the consultations between the Bank and ............, or any other party to that arrangement, sufficient agreement on the desirability of the continued existence of this agreement will prove to exist. In this connection, the bank will inform the other parties involved in the procedure of the situation referred to above.


Agreement of 2 February 1987 on the establishment of a uniform uniform line of conduct in respect of savings certificates not being used

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Having regard to the Agreement of 1 May 1981, which provides for a uniform line of conduct on savings certificates issued after 10 May 1981, which is to be applied in full to the savings certificates which have not been named, which were issued after 10 May 1981 but before 2 February 1987;

Having regard to the desirability of an agreement with the Bank, which is contained in an agreement with the Bank and in a subsequent consultation with the Bank, to be agreed with regard to transactions in non-name savings certificates issued after 1 February 1987, Bank established interbank behaviour rule;

Whereas provision is made for the possibility of a general binding of this Agreement;

Enter the

hereinafter referred to as:

acting on behalf of the institutions attached to it, and

De Nederlandsche Bank N.V.,

hereinafter referred to as:

the Bank

The following corresponds to:

The ............ shall, on behalf of the institutions which are affiliated to it, undertake to comply with the following rules in respect of savings certificates:


Article 1

Savings certificates within the meaning of this Agreement are bearer securities issued by the affiliated institutions after 1 February 1987, which include a nominal claim against the issuer and where the interest is not payable for the duration of the contract. shall be payable.

The provisions of this Agreement shall not, however, apply to transactions in commercial paper and certificates of deposit, insofar as these transactions are carried out between professional lenders and borrowers.


Article 2

A registration note of any transaction in savings certificates shall be made out by the affiliated institution which enters into the transaction. The institution shall at least lay down in the registration note:

  • -the name, address and place of residence of the person with whom the transaction was carried out ('the other party '),

  • -the nature of the transaction,

  • -a clear description of the number and type and the distinguishing numbers of the savings certificates involved in the transaction.

Transaction means any operation in which a savings certificate is physically transferred.


Article 3

The establishment of the name, address and place of residence of the other party, as referred to in Article 2 It is due to the care which is due to social security.

If, for whatever reason, the affiliated institution considers that it is not in a position to determine the identity of the other party with due care, the institution shall refrain from entering into the transaction.


Article 4

From the Article 2 the obligation referred to above shall be reported on unquoted savings certificates on the stock exchange.


Article 5

Publications relating to savings certificates shall not include the term 'toinclude'. The indication of the toundercharacter on the paper itself is made only in the form normally used in securities in general.


Article 6

The Agreement shall be open for an indefinite period, on the understanding that it shall be terminated not later than six months after the consultations between the Bank and the Association, or any other party concerned by that arrangement, insufficient agreement on the desirability of the continued existence of this agreement will prove to exist. Should the situation referred to above arise, the Bank shall inform the parties involved in the scheme.