ACT

of 29 August 1997

Banking law ¹⁾

• Metric
• Codified text

Chapter 1

General provisions

Article 1. [ Substantive Scope] The Act sets out the rules for the conduct of banking activities, the creation and organization of banks, branches and representations of foreign banks, as well as branches of credit institutions and the rules of supervision of bank supervision, remedial proceedings, the liquidation and bankruptcy of the banks.

Article 2. [ Bank] The Bank shall be a legal person established in accordance with the provisions of laws, acting on the basis of permits for the execution of banking activities which are at risk of the funds entrusted under any repayable title.

Article 3. [ Disclaimer of add-ons in name] The words 'bank' or 'cash' may be used in the name and for the determination of the activity or advertising of a bank only within the meaning of the Article. 2, except that:

1. this does not apply to business units using the words "bank" or "cash register", the activities of which are unambiguer that those entities do not perform banking activities;

2) the word "cash" can also be used in the name and for determining the business or advertising of a business unit which, on the basis of a separate law, collects savings and provides cash loans to natural persons associated with that entity.

Article 4. [ Definitions] 1. The terms used in the determination shall mean:

1) a national bank-a bank established in the territory of the Republic of Poland;

2) a foreign bank-a bank established abroad of the Republic of Poland, in the territory of a country not a member of the European Union;

3. an international financial institution, a financial institution of which the majority of its own capital belongs to the Member States of the Organisation for Economic Cooperation and Development or the central banks of such countries;

4) payment card-payment card within the meaning of the Act of 19 August 2011. on payment services (Dz. U. Nr. 199, pos. 1175, from late. zm.);

5) electronic money-electronic money within the meaning of the Act of 19 August 2011. for payment services;

6) (repealed);

(7) a financial institution, a non-bank entity or a credit institution, the main source of which is the source of the majority of the revenue, consists in the pursuit of an economic activity in respect of:

(a) the acquisition and disposal of shares or shares,

(b) the granting of loans from own resources,

(c) the sharing of assets under a leasing contract,

(d) the provision of services in respect of the acquisition and disposal of claims,

e) the provision of payment services and the issuance of electronic money in accordance with the provisions of the Act of 19 August 2011. on payment services,

(f) the issuing and administration of payment instruments to the non-regulated range in the Act of 19 August 2011. on payment services,

(g) the granting of guarantees, guarantees or other commitments not recognised in the balance sheet,

(h) the turnover for the own account or the account of another natural person, legal person or business unit without legal personality, provided that it has legal capacity:

-the timely financial operations,

-money market instruments,

-securities,

(i) to participate in the issue of securities or to provide services related to such an issue,

(j) the provision of asset management services,

(k) the provision of financial advice services, including investment,

(l) the provision of services consisting in the execution of orders in the money market;

(8) the parent undertaking:

(a) a parent undertaking within the meaning of Article 4 point 14 of the Act of 29 July 2005. public offering and conditions for the introduction of financial instruments to an organised trading system and on public companies (Dz. U. 2009 r. No. 185, item. 1439, of 2010. Nr 167, pos. 1129 and 2012 items 836) or

(b) an entity which, in the assessment of the Financial Supervision Authority, may otherwise have a significant impact on another entity;

(9) a subsidiary, an entity in respect of which another entity is a parent, and all subsidiaries of that subsidiary are also considered to be subsidiaries of the original parent undertaking;

(10) financial holding-a group of entities in which the original parent is a financial institution which is not a dominant non-regulated entity within the meaning of the Article. 3 point 5 of the Act of 15 April 2005. on the supplementary supervision of credit institutions, insurance undertakings, reinsurance undertakings and investment firms forming part of a financial conglomerate (Dz. U. Nr. 83, pos. 719, 2006 Nr 157, poz. 1119 and 2009 Nr 42, pos. 341), hereinafter referred to as "the Supplementary Surveillance Act", and the group consists exclusively of or in most banks, credit institutions or financial institutions, with at least one subsidiary being a national bank, a foreign bank, or a credit institution;

(11) mixed holding: a group of entities in which the original parent entity is a non-bank, a credit institution, a financial institution, or a dominant non-regulated entity within the meaning of Article 3 (1) of the Financial Regulation. 3 point 5 of the Law on supplementary supervision, and at least one subsidiary is a national bank, a foreign bank or a credit institution;

(11a) foreign banking holding-a group of entities in which a foreign bank or a credit institution is the original parent, and at least one subsidiary is a national bank, a foreign bank, a credit institution or the financial institution;

11b) holding a national banking group of entities:

(a) in which the original parent is a national bank, or

(b) which consists of: a national bank and its closely related entities;

11c) a hybrid holding-a group of entities in which the original parent is a financial institution which is not a dominant non-regulated entity within the meaning of Article 3 (1) of Regulation (EC) No 166tive 3 point 5 of the supplementary supervision act and the group shall be composed in most entities other than national banks, foreign banks, credit institutions or financial institutions, and at least one subsidiary is a bank national;

(12) a subsidiary of banking services-an entity whose principal activity is ancillary to the core business of one or more banks and, in particular, consists in the management of its own or the assets entrusted or the provision of data processing services;

(13) the competent supervisory authority, the authorities empowered by the applicable rules for the supervision of entities operating in the financial market;

14) significant influence-the ability to participate in decision-making in determining the directions of financial and operational policy, including on the distribution of profit or coverage of the balance sheet loss of another entity;

15. close links:

(a) the holding by the entity directly or indirectly of at least 20% of the capital of another entity or of the right to exercise at least 20% of the votes in the organs of another entity or

(b) a stay with another entity in an economic relationship based on permanent cooperation, in particular arising from a contract or contract concluded, which may have a significant impact on the financial situation in the assessment of the Financial Supervision Commission one of the entities;

16) entities related to capital or organisation-at least two entities, of which at least one directly or indirectly exerts a significant impact on the others or which constitute for the bank one risk due to the financial problems Whereas one of them, in particular difficulties in raising financing sources or repayment of obligations, may have an impact on the deterioration in the ability to raise financing or to repay the commitments by any of the others;

16a) entrepreneur-entrepreneur referred to in art. 4 of the Act of 2 July 2004. about the freedom of economic activity (Dz. U. of 2010 No. 220, item. 1447, as of late. zm.);

16b) foreign entrepreneur-foreign entrepreneur within the meaning of art. 5 point 3 of the Act referred to in point 16a;

17. credit institution-an entity having its registered office abroad of the Republic of Poland on the territory of one of the Member States of the European Union, hereinafter referred to as "the Member States", leading in its own name and on its own account, on the approval of the competent supervisory authorities, the activity consisting in the acceptance of deposits or other funds entrusted under any repayable title and the granting of loans;

(18) a branch of a credit institution, an establishment of a credit institution which performs on its behalf and on its behalf all or some of the activities resulting from the authorisation of that credit institution, and all entities of the credit institution concerned, and the organisation of the credit institution concerned corresponding to the above characteristics, established in the territory of the Republic of Poland, shall be considered as a single branch;

(19) branch of the national bank abroad-an organisational unit of a national bank performing on its behalf and on its behalf all or some of the activities resulting from the authorisation granted to the national bank, with all the organizational units the national bank concerned corresponding to those characteristics established in the territory other than the Republic of Poland of the State shall be considered as a single branch;

20) a branch of a foreign bank-an organization unit of a foreign bank performing on its behalf and on its behalf all or some of the activities resulting from the permit granted to it by the bank, with all the organizational units of the given the foreign bank corresponding to the above characteristics, created in the territory of the Republic of Poland, is considered to be one branch;

21) cross-border activity-execution by a credit institution on the territory of the Republic of Poland or by a national bank in the territory of the host state of all or some of the activities resulting from the granted consent, without the participation of a branch of that institution or bank;

(22) the home country of the Member State in which the credit institution has been authorised to carry out its activities and in which it has its seat;

(23) the host country, the Member State in whose territory the national bank is carrying out or intends to carry out its activities;

(24) an intermediary institution, a bank or other institution involved in the execution of cross-border transfers, which is not the bank of the payer or the bank of the beneficiary;

25) the company of investment funds-the company of investment funds within the meaning of the Act of 27 May 2004. o Investment funds (Dz. U. Nr 146, pos. 1546, as of late. zm.);

26) securitisation fund-a securitisation fund within the meaning of the Act of 27 May 2004. the Investment Funds;

27) Sub-participation Agreement-the contract referred to in art. 183 (1) 4 of the Act of 27 May 2004. the Investment Funds;

(28) a parent institution in a Member State, a credit institution or a national bank, in respect of which a subsidiary or a related party within the meaning of point 15 (a) is a subsidiary of a Member State. a is a credit institution, a financial institution or a national bank and which is not a subsidiary of a credit institution operating on the basis of an authorisation granted in the same State or in relation to a financial institution; or the dominant non-regulated entity within the meaning of Article 3 point 5 of the Act on supplementary supervision established in the territory of the same State or in relation to a national bank;

(29) a parent undertaking in a financial holding in a Member State, a parent undertaking in a financial holding or in a hybrid holding which is not a subsidiary of a credit institution operating on the basis of an authorisation granted in that Member State Member States shall, in accordance with the procedure laid down in Article 4 (2) of the Financial Regulation, be subject to the conditions 3 point 5 of the Act on supplementary supervision established in the territory of the same State, nor in relation to a national bank, if that entity is established in the territory of the Republic of Poland;

29a) management company, the management company referred to in art. 2 point 10 of the Act of 27 May 2004. the Investment Funds;

29b) a parent mixed financial holding company in a Member State-a dominant non-regulated entity within the meaning of Article 3 (1) of the EC 3 point 5 of the Supplementary Supervision Act, which is not a subsidiary of a credit institution operating on the basis of an authorisation granted in the same State or in relation to a dominant non-regulated entity within the meaning of Article 3 (3) of the Law on Supplementary Supervision. 3 point 5 of the Act on supplementary supervision established in the territory of the same State, nor in relation to a national bank, if that entity is established in the territory of the Republic of Poland;

(30) an EU parent institution, a parent institution in a Member State which is not a subsidiary of a credit institution or a national bank, or a financial institution or a parent non-regulated entity in a Member State the meaning of Article 3 point 5 of the Law on supplementary supervision established in the territory of a Member State;

(31) the EU parent undertaking in the financial holding, a parent undertaking in a financial holding in a Member State which is not a subsidiary of a credit institution or a national bank or a financial institution, or the dominant non-regulated entity within the meaning of Article 3 point 5 of the Law on supplementary supervision established in the territory of a Member State;

(32) EU parent mixed financial holding company-a parent mixed financial holding company in a Member State which is not a subsidiary of a credit institution or a national bank neither in relation to the financial institution or the dominant non-regulated entity within the meaning of Article 3 point 5 of the Law on supplementary supervision established in the territory of a Member State.

2. For the holding of the holding referred to in paragraph 2. 1 points 10-11a, 11b lit. (a) and in point 11c, shall also be considered as having close links with the national holding bank.

3. The provisions of the Act concerning the Member States shall apply also to countries which are not Member States, but belonging to the European Economic Area.

Article 4a. [ Decision Of The Financial Supervision Commission] 1. The Polish Financial Supervision Authority expresses the assessment referred to in art. 4 par. 1 point 8 (a) (b) and point 15 (b), in the form of a decision. An entity recognised as a parent undertaking or an entity with close links with the bank may ask the Financial Supervision Commission to reconsider the case.

2. From the decision of the Financial Supervision Authority concluding a request for reconsideration of the case, the entity considered to be the parent entity or for an entity having close links with the bank may bring a complaint to the administrative court within 14 days of the date of service of the decision The application of the action shall not suspend the execution of the decision.

3. From the decision of the Polish Financial Supervision Authority on the evaluation referred to in art. 4 par. 1 point 15 (b), entitled to request a reconsideration of the case or to lodge a complaint with the administrative court, shall also be the bank.

Article 5. [ Banking actions] 1. Banking factors are:

1) to receive cash deposits on demand or with the arrival of a marked term, and to carry out the accounts of these contributions;

2) conducting other bank accounts;

(3) the granting of loans;

4. the provision and confirmation of bank guarantees and the opening and validation of letters of credit;

5) the issuance of bank securities;

6) conduct of bank accounts;

6a) (repealed);

7) execution of other activities provided exclusively for the bank in separate statutes.

2. Banking factors shall also be as follows, as long as they are executed by the banks:

1) the provision of monetary loans;

2) checks and bills and operations for which warrants are subject;

(3) the provision of payment services and the issuing of electronic money;

4) timely financial operations;

5) the acquisition and disposal of monetary claims;

6. storage of items and securities and making available safe deposit boxes;

7) conducting buying-in and selling of foreign exchange values;

(8) the provision and confirmation of guarantees;

9) the execution of commissioned activities related to the issue of securities;

(10) intermediation in the carrying out of transfers of funds and settlement in exchange of foreign exchange.

3. (repealed).

4. The economic activities of which the activities referred to in paragraph 1 are subject. 1, may be performed only by banks, subject to the paragraph. 5.

5. Organizational units other than banks may carry out the activities referred to in paragraph. 1, if the provisions of separate laws empower them to do so.

Article 6. [ Other actions allowed by banks] 1. In addition to carrying out the banking activities referred to in art. 5 par. 1 and 2, banks may:

1) include or acquire shares and rights from shares, shares of another legal person and units of participation in investment funds;

2) to enlist obligations relating to the issue of securities;

3) make the trading of securities;

4) make, under the terms agreed with the debtor, the exchange of receivables into the assets of the debtor;

5) acquire and dispose of real estate;

6) provide consultancy and advisory services on financial matters;

6a) provide certification services within the meaning of the provisions on electronic signature, with the exception of the issuing of qualified certificates used by banks in the activities to which they are parties;

7) provide other financial services;

8) perform other actions, if the provisions of separate laws entitle them to this.

2. The Bank shall be obliged to sell the assets referred to in the paragraph. 1 point 4, in relation to:

1) real estate-in a period not longer than 5 years from the date of acquisition;

2. other assets-within a period of not more than 3 years from the date of acquisition.

3. The obligation referred to in paragraph. 2, does not rest with the bank, if the acquired assets are used to carry out their own banking activities.

Article 6a. [ Entruning the execution of an action] 1. The Bank may, by means of a contract concluded in writing, entrust the entrepreneur or the foreign entrepreneur, subject to Art. 6d, executing:

1) on behalf of and on behalf of the Bank for brokering in the activities listed in Art. 5 and 6, consisting of:

(a) the conclusion and amendment of the contracts of bank accounts referred to in Article 49 (1) 1, according to the model approved by the bank,

(b) the conclusion and modification of contracts of loans and cash loans granted to natural persons, including consumer credit within the meaning of the Act of 12 May 2011. o consumer credit (Dz. U. Nr 126, pos. 715, Nr. 165, pos. 984 and No. 201, pos. 1181 and 2012 items 1193),

c) concluding and amending agreements of loans and cash loans for micro-entrepreneurs and small entrepreneurs within the meaning of the Act of 2 July 2004. o freedom of economic activity,

(d) the conclusion and amendment of the settlement agreements on the repayment of loans referred to in point (a) (d) (d) (d) b and c,

(e) the conclusion and amendment of the arrangements for the establishment of the legal collateral for the loans referred to in point (e) b and c,

(f) the conclusion and amendment of contracts for a payment card to which the consumer and a micro-entrepreneur and a small trader within the meaning of the law referred to in point (c) are a party,

(g) the acceptance of payments, payments and handling of checks related to the establishment of bank accounts by that bank,

(h) the payment and acceptance of the repayments of loans granted by that bank;

(i) to accept payments to bank accounts carried out by other banks,

(j) to accept the execution of bank accounts of bank accounts by that bank,

(k) carrying out activities relating to the issuing and holding of securities and other securities, as well as the execution of other transactions relating to the issue and handling of securities,

(l) recovery of the bank's claims

(m) carrying out other activities, after obtaining the consent of the Financial Supervision Commission;

2) the factual activities related to banking activities.

2. The task of the bank to exercise the activities referred to in paragraph 2. 1 point 1 lit. a-j, occurs on the basis of an agency contract.

3. The implementation of the activities referred to in paragraph 3. 1, may not include:

1) management of the bank within the meaning of art. 368 § 1 of the Act of 15 September 2000 r. -Code of Commercial Companies (Dz. U. No 94, pos. 1037, with late. zm.), hereinafter referred to as the "Code of Commercial Companies", and within the meaning of Article 48 of the Act of 16 September 1982. -Cooperative law (Dz. U. 2003 r. Nr 188, pos. 1848, z późn. zm.), hereinafter referred to as the "Law-Cooperative Law", in particular the management of risk related to the conduct of banking activities, including asset and liability management, the assessment of creditworthiness and credit risk analysis,

2) carrying out an internal audit of the bank.

4. The Polish Financial Supervision Authority may grant to the bank the permit referred to in paragraph. 1 point 1 (m), if the bank entrusting the execution of other activities is necessary for the conduct of banking activities in a prudent and stable manner or a significant reduction in the cost of that activity.

5. The application for authorisation referred to in paragraph. 1 point 1 (m), the bank annexes:

1) documents concerning the economic activity of the entrepreneur or the foreign entrepreneur who is to perform the entrusted activities;

2) the draft of the contract referred to in paragraph. 1, which is to be concluded with an entrepreneur or foreign entrepreneur;

(3) action plans to ensure continuous and uninterrupted operation within the scope of the contract;

4) a description of technical and organizational solutions, ensuring safe and proper execution of the entrusted activities, in particular the protection of the legally protected secret;

(5) a description of the risk management principles associated with the implementation of the exercise referred to in paragraph 1. 1.

6. To the proceedings on the application referred to in paragraph. 5, rule of art. 33 shall apply mutatis mutandis.

7. If the contract entrusts the exercise of the activities referred to in paragraph. 1, this provides, the entrepreneur or foreign entrepreneur referred to in the mouth. 1, may entrust another entrepreneur or foreign entrepreneur, by means of a separate agreement, the execution of:

1) specified in the contract concluded with the bank of activities for carrying out the main benefit resulting from this agreement, after obtaining the written consent of the bank, or

(2) entrusted by the bank in a single way, where, in the event of force majeure, they are not able to carry them out on their own, for the time necessary to remove the reasons why they cannot carry out these operations.

8. To entrust the exercise of activities in accordance with the paragraph. 7 point 2, the provisions of the paragraph. 2 shall apply mutatis mutandis.

Article 6b. [ Liability for damage caused to customers] 1. The liability of the entrepreneur or foreign entrepreneur referred to in art. 6a par. 1, to the bank for damage caused to the customers as a result of the non-performance or improper performance of the contract referred to in art. 6a par. 1 and 7, cannot be disabled or restricted.

2. The liability of the bank for damage caused to the customers as a result of the non-performance or improper performance of the contract, referred to in art. 6a par. 1 and 7, cannot be disabled or restricted.

Article 6c. [ Conditions] 1. The implementation by the bank of execution of permanent or periodic activities referred to in art. 6a par. 1, may occur if the following conditions are met:

1) a bank and an entrepreneur or foreign entrepreneur will hold action plans providing continuous and unimpeded pursuit of activities within the scope of the contract;

2. entrusts the exercise of the activities referred to in art. 6a par. 1 and 7, will not adversely affect the performance of the business bank in accordance with the provisions of law, prudent and stable bank management, the effectiveness of the internal control system at the bank, the possibility of performing duties by an auditor authorized to audit the bank's financial statements on the basis of the agreement concluded with the bank and the protection of the legally protected secret;

(3) the bank shall take account of the risks associated with the implementation of the exercise referred to in Article 3. 6a par. 1 and 7, in the risk management system.

2. The Bank shall notify the Financial Supervision Commission:

1) at least 14 days before the date of conclusion of the contract providing for the possibility of entrusting the exercise of the activities in accordance with art. 6a par. 7 point 2 of the trader referred to in art. 6d par. 1, or such an agreement providing that the entrusted activities will be carried out outside the territory of a Member State, of the content of such a contractual provision;

2) without delay-of entrusting the exercise of activities in accordance with art. 6a par. 7 point 2.

3. The Bank shall keep a record of the agreements referred to in Art. 6a par. 1 and 7, containing at least:

1) data identifying the entrepreneurs or foreign entrepreneurs with whom the agreements have been concluded entrusting the performance of the activities;

2) the scope of the entrusted activities and the place of their execution;

3) the duration of the contracts.

4. The Polish Financial Supervision Authority may request from the bank in particular:

1) the presentation of a copy of the contract referred to in art. 6a par. 1 or 7;

2. to provide an explanation for the implementation of the contracts entrusted with the exercise of the activities;

3. the presentation of the action plan referred to in paragraph 1. 1 point 1;

4) presentation of documents specifying the status of the entrepreneur or foreign entrepreneur with whom the bank has entered into an agreement;

5) to provide a description of technical and organizational solutions ensuring safe and proper execution of the entrusted activities, in particular the protection of the legally protected secret;

6. presentation of the principles of risk management associated with the implementation of the exercise of the activities referred to in art. 6a par. 1 and 7.

5. The Polish Financial Supervision Authority instructs the bank, by decision, to take action to amend or terminate the agreement referred to in art. 6a par. 1 or 7 if:

1) the execution of the contract threatens the prudent and stable management of the bank;

2) an entrepreneur or foreign entrepreneur who is a party to the contract has lost the required powers necessary for the execution of this contract.

6. From the decision of the Polish Financial Supervision Authority, referred to in paragraph. 5, the bank may lodge a complaint with the administrative court within 14 days from the date of service of the decision. The application of the action shall not suspend the execution of the decision. Article Article 127 § 3 of the Act of 14 June 1960. -The Code of Administrative Procedure (Dz. U. 2000 r. Nr 98, pos. 1071, of late. zm.), hereinafter referred to as the "Code of Administrative Procedure", does not apply.

7. The Polish Financial Supervision Authority may, without the need for prior reminder in writing, apply the measures laid down in art. 138 para. 3, where, within the prescribed period, the bank will not lead to the amendment or termination of the contract referred to in Art. 6a par. 1 or 7.

8. To the entrepreneur or foreign entrepreneur referred to in art. 6a par. 1 and 7, the provisions of art. 136 3 and Art. 141h ust. 1, 3 and 4 shall apply mutatis mutandis.

Article 6d. [ Application for authorisation] 1. Conclusion of the contract as referred to in art. 6a par. 1 or 7, with foreign entrepreneur not domiciled or not established in the territory of a Member State or a contract providing that the entrusted activities will be carried out outside the territory of a Member State, requires the authorisation of the Financial Supervision Commission granted at the request of the bank.

2. To the proceedings on the application referred to in paragraph. 1, the provisions of art. 6a par. 5 and art. 33 shall apply mutatis mutandis, subject to paragraph. 3.

3. In the case of the agreements referred to in:

1. 6a par. 7 point 1-the provisions of Article 1 6a par. Paragraph 5 (2) shall not apply;

2. Article 6a par. 7 point 2-the provisions of Article 4 6a par. Paragraphs 2 and 3 shall not apply.

4. The Polish Financial Supervision Authority may refuse to grant an authorisation or withdraw the permit, where:

1) there is a threat of breach of a legally protected secret;

2. in the State in which the entrusted activities are to be exercised, the applicable law prevents the Financial Supervision Commission from exercising effective supervision;

3) entrusting the performance of activities may adversely affect the business bank in accordance with the provisions of law, prudent and stable management of the bank, the effectiveness of the internal control system in the bank and the possibility of exercising duties by the auditor authorized to audit the bank's financial statements on the basis of the agreement concluded with the bank of the bank.

5. Article Recipe 6c shall apply mutatis mutandis.

Article 7. [ Declarations of will and documents drawn up using electronic media] 1. The certificates of will connected with the performance of banking activities may be submitted in electronic form.

2. Documents relating to banking activities may be drawn up on the IT data carriers, if these documents are properly formed, persisted, transferred, stored and secured. The services related to the security of these documents can be executed by banks, companies created by banks with other entities, as well as ancillary banking services companies.

3. If the Act reserves for legal action a written form, the act shall be deemed to have been carried out in the form referred to in the paragraph. 1, meets the requirements of the written form also when the form has been reserved under the rigorous annulment.

4. The Council of Ministers shall determine, by way of regulation, after consulting the President of the National Bank of Poland, the manner of creating, perpetuating, transferring, storing and securing, including by the use of electronic signature, documents, o referred to in paragraph 1: 2, so as to ensure the security of the market and protect the interests of banks and their clients.

Article 7a. [ Timely financial operations] For the timely financial operations referred to in Article 4 par. 1 point 7 lit. h and Art. 5 par. Point 4 of the agreements concluded by the bank or the financial institution shall not apply to gambling and to the provisions of the rules on gambling and the articles of the financial institution. 413 of the Act of 23 April 1964. -Civil Code (Dz. U. No 16, pos. 93, with late. zm.), hereinafter referred to as 'Civil Code'.

Article 8. [ Obligation to hold payment liquidity] The Bank shall be obliged to maintain payment liquidity adjusted to the size and type of business, in such a way as to ensure the execution of all monetary liabilities in accordance with the deadlines for their payment.

Article 9. [ Internal audit] 1. The bank operates a management system.

2. The management system constitutes a set of rules and mechanisms relating to the decision-making processes occurring in the bank and to the assessment of the conducted banking activities.

3. Within the management system at the bank shall function at least:

1) a risk management system;

2) the internal control system.

Art. 9a. [ Audit objective] 1. The Management Board of the Bank shall design, implement and ensure the operation of the management system.

2. The supervisory board of the bank shall supervising the implementation of the management system and assess the adequacy and effectiveness of the system.

Article 9b. [ Surveillance] 1. The task of a risk management system shall be to identify, measure or estimate and monitor the risk of the bank's activities to ensure the regularity of the process of determining and implementing the specific objectives pursued by the bank activities.

2. Within the risk management system, the bank shall:

1) apply the formalised rules for the determination of the amount of risk to be undertaken and the risk management principle;

2) use formal procedures to identify, measure or estimate and monitor the risks involved in the bank's activities, also taking into account the projected level of risk in the future;

3) use formal limits to limit the risks and rules of conduct in the event of exceeding the limits;

4. use the adopted management reporting system to monitor the level of risk;

5) has an organisational structure adjusted to the size and profile of the risk bank.

3. The Bank shall exercise supervision of the risks associated with the activities of subsidiaries.

Art. 9c. [ Internal Audit Cell] 1. The purpose of the internal control system shall be to support the decision-making processes contributing to the provision of:

1) the effectiveness and efficiency of the bank;

2) reliability of financial reporting;

3) compliance of the bank with the provisions of law and internal regulations.

2. The internal control system shall comprise:

1. risk control mechanisms;

2) examination of the compliance of the bank's operation with the provisions of law and internal regulations;

3) an internal audit.

Art. 9d. [ Information] 1. In banks operating in the form of a joint-stock company, in state banks and in cooperative banks, where internal control is not implemented on the basis of art. 10, an organisational cell carrying out an internal audit, hereinafter referred to as the 'Internal Audit Cell', functions.

2. The task of internal audit cell is to examine and evaluate, in an independent and objective manner, the adequacy and effectiveness of the internal control system and the opinion of the bank management system, including the effectiveness of risk management associated with the the bank's activities

Art. 9e. [ Internal Audit] 1. Information on the identified irregularities and the conclusions resulting from the internal audit carried out and the actions taken for their removal shall be transmitted periodically, at least once a year, the supervisory board of the bank.

2. The supervisory board of the bank may appoint from among its members the Internal Audit Committee, which supervising the activities of the internal audit cell.

Art. 9f. [ Financial Supervision Commission] The Financial Supervision Commission will define, by way of a resolution, detailed rules for the operation of the risk management system and the internal control system.

Art. 9g. [ Determining the policy of variable remuneration components of the remuneration of persons occupying managerial positions in the bank] The Financial Supervision Commission will determine, by way of a resolution, the rules for determining the policy of variable remuneration components of the managers of the bank's positions.

Article 10. [ Internal audit in cooperative banks affiliated to regional banks] Internal control at the cooperative banks in the association banks may be carried out by an association bank in accordance with the rules laid down in the association agreement.

Article 10a. [ Obligation of professional secrecy] 1. Chairman of the Polish Financial Supervision Authority, his deputies, members of the Financial Supervision Authority, employees of the Office of the Financial Supervision Authority and persons employed in the Office of the Financial Supervision Authority on the basis of a contract of work, contract of order or other agreements of a similar nature, shall be bound by the obligation of professional secrecy.

2. The professional secret referred to in paragraph. 1, they are all obtained or produced in connection with the exercise of banking supervision, the information which the granting, disclosure or confirmation of which could infringe the legitimate interest of the entities concerned, whether directly or indirectly concerning or obstruct the exercise of banking supervision.

3. The obligation referred to in paragraph. 1, there is also after the cessation of the legal relations referred to in the paragraph. 1.

4. Subject to paragraph. 5-8, does not prejudice the obligation referred to in paragraph. 1:

1. giving information to the competent supervisory authority for the purposes of the supervisory authority of those authorities;

2) submission of a notice of suspicion of committing a criminal offence;

(3) the provision of information to the central bank in the European System of Central Banks to carry out its statutory tasks, including those relating to monetary policy and the provision of related liquidity, tasks relating to monetary policy and the provision of related liquidity, with the supervision of payment, clearing and settlement systems and tasks carried out in the event of a threat to the stability of the financial system;

4) provide information to the competent supervisory authorities of the Member States concerned in the event of a threat to the stability of the national financial system and in the performance of international obligations of the Republic of Poland.

5. The provision of information constituting a professional secret, covering the scope of the banking secrecy, is possible only in the mode and on the basis specified for the provision of information constituting a banking secret.

(6) The sharing of the competent supervisory authorities of a Member State which is not a Member State of information constituting the professional secrecy of the competent supervisory authorities of a Member State may take place only if the protection of those Member States is ensured. information at least equivalent to that referred to in this Article.

7. Obtained from the competent supervisory authorities, the information constituting the professional secrecy of those authorities may be granted only after obtaining the consent of those authorities and for the purposes specified by that consent.

8. The consent referred to in the paragraph. 7, it is not required if the information received from the competent supervisory authorities of a Member State is transmitted to the competent supervisory authorities of other Member States or the provision of information is necessary for the purpose of exercising supervision bank.

9. Persons other than those mentioned in the mouth. 1 which has become acquainted with the information constituting professional secrecy, in particular in the cases referred to in paragraph 1. Article 4 (2) and (4) 7 and 8, they shall be bound by the obligation of professional secrecy, unless it is apparent from the separate provisions to continue to provide this information.

10. The provisions of the paragraph. 1-9 shall also apply to the information contained in the documentation taken over by the Polish Financial Supervision Authority as a result of the implementation of the agreement concluded on the basis of art. 71 (1) 2 of the Act of 21 July 2006. on the supervision of the financial market (Dz. U. 2012 r. items 1149 and 1166).

Article 11. [ Permits, authorisations, consented and decisions of the Financial Supervision Authority and the President of the NBP] 1. The provisions of the Code of Administrative Procedure shall apply mutatis mutandis to the decisions of the President of the National Bank of Poland on the granting of consent, unless otherwise provided in this Act.

2. Decisions of the Financial Supervision Authority on:

1) evaluation expressions,

2. Authorisation,

3) consent,

4) order the bank to change or terminate the contract,

(4a) prohibiting the exercise of voting rights from the shares of the national bank or exercising the powers of the parent undertaking,

5) order the sale of shares within the designated time limit,

6. refusal to send to the competent supervisory authority of the State of the notification,

7. refusal to notify the competent supervisory authorities of the host State,

8) prohibiting financial institutions from operating in the territory of the host country,

(9) to order the bank to withhold disbursements from profit,

10) order the suspension of the creation of new organizational units of the bank, the branch of the foreign bank or branch of the credit institution,

11) suspension in the activities of the members of the management board of the bank or financial institution,

12) limitation of the scope of activities of the bank, branch of the foreign bank or branch of the credit institution,

13) impose a financial penalty on a bank, a branch of a foreign bank, a branch of a credit institution or a financial institution,

14) liquidation of the bank or branch of a foreign bank,

(15) determine the extent of the powers of the liquidator or other person designated by the competent supervisory authority of the Member State to carry out the winding-up of the credit institution,

16) cancellation of a member of the bank's management

17) impose on the members of the management board of the bank or financial institution and the authorities of the credit institution's branch of credit,

18) prohibiting granting or restricting the granting of loans and cash loans to shareholders (members) and members of the management board, the supervisory board and employees of the bank,

19) requests for the convening of an extraordinary general meeting,

20) the commitment of the bank to increase the own funds referred to in art. 138a and 138b ust. 1,

21) impose an additional capital requirement on the bank,

22) establishment and cancellation of the curator,

23) the establishment of the Board of Commissioners,

24) the acquisition of the bank by another bank with the consent of the acquiring bank,

25) speeches to the Council of Ministers for the liquidation of the state bank,

26) the cancellation of the bank's liquidator designated by the bank,

27) suspension of the bank's activities,

28) recognition of a branch of a credit institution as relevant

-shall have the power of final administrative decisions and shall be subject to immediate implementation.

3. Unless otherwise provided by the law, the time limit for the opinion of the opinion shall be 30 days.

Chapter 2

Creation and organisation of banks and bank branches and representations

Article 12. [ Legal form of banks] Banks can be created as state-owned banks, cooperative banks or banks in the form of public limited liability companies.

Article 13. [ The founders of the bank] 1. The founders of a bank in the form of a joint-stock company may be legal persons and individuals, with the fact that the founders may not be less than 3.

2. The founders of a cooperative bank can only be natural persons in the number required for the establishment of the cooperative, defined by the Law-Co-operative Law.

3. Paragraph Recipe 1 shall not apply to a bank, the founder of which is the State Treasury, a national bank, a credit institution, a foreign bank, a national or foreign insurance undertaking, a national or foreign reinsurance undertaking or an international financial institution.

Art. 13a. [ Headquarters of the Management Board] The board of the bank operates and performs its functions at the premises specified in the bank's statutes.

A. State banks

Article 14. [ Establishment of a state bank] 1. The State Bank may be set up by the Council of Ministers by way of regulation, upon request Minister of Treasury [ 1] the opinion of the Financial Supervision Commission. In the same mode, the state bank shall be wound up, except in the case referred to in Article 4. 147 para. 1 point 3.

2. The Regulation of the Council of Ministers of the formation of a state bank shall determine the name, seat, subject matter and scope of the bank's operation, its statutory funds, including funds distributed from the assets of the State Treasury, which become the bank's assets.

3. The State Bank shall not be subject to the entry into register of public undertakings [ 2] .

Article 15. [ Authorities of the State Bank] 1. The organs of the state bank are the supervisory board and the management board.

2. Members of the Boards or Supervisory Boards shall not engage in competitive activities. In particular, they may not be members of the management board or the supervisory board of another bank, unless the state bank is a shareholder of this bank.

Article 16. [ Supervisory Board] 1. The supervisory board shall be appointed for a period of 3 years from among those with appropriate financial qualifications. The Chairman of the Supervisory Board shall appoint and dismiss the President of the Council of Ministers upon request Minister of Treasury .

2. The members of the Board shall be appointed by the Minister of Treasury from persons who are not members of the management board of the The appeal of the members of the Board shall be in the same mode as they were called.

Article 17. [ Chairman of the Board] 1. The President of the Management Board of the State Bank shall appoint and cancel the Supervisory Board.

2. The remaining members of the bank's board shall appoint and cancel the supervisory board, at the request of the President of the Management Board of the bank.

3. The appointment of the President of the Management Board and one member of the Management Board shall be followed with the approval of the Financial The provisions of Article 4 22b shall apply mutatis mutandis.

Article 18. [ Authority powers] 1. The Supervisory Board supervising the activities of the state-owned bank, approves the financial statements presented by the Management Board and the distribution of profit and manner of covering losses, and accepts reports on the bank's activities, grants to the management board of the bank recommendations and may suspend in the activities of the bank's management board members.

2. Subject to paragraph. 1, the board of directors of the bank shall consider matters concerning the activities of the bank and shall act in such cases resolutions, the execution of which shall be provided by the bank's chairman

3. The Supervisory Board repeals the resolution of the bank's management in the event of a finding of its non-compliance with the provisions of the law or the bank's statutes

4. The President of the Management Board of the State Bank represents the bank, chairs the bank's management board and organises the bank's activities.

5. The detailed scope of the activities of the Supervisory Board and the Management Board and the persons entitled to represent the bank shall determine the statutes of the state bank.

Article 19. [ Statute Bank Statute] The statutes of the national bank shall, by means of a regulation, confer on it Minister of Treasury in agreement with Finance Minister [ 3] , after consulting the Financial Supervision Commission.

B. Cooperative banks

Article 20. [ Creation of cooperative bank] 1. The cooperative bank shall be a cooperative bank, to which it is unregulated in the Act of 7 December 2000. on the functioning of cooperative banks, their association and associations of associations (Dz. U. Nr 119, poz. 1252, as of late. zm.), hereinafter referred to as the "Act on the Functioning of the cooperative banks, their association and associations", and this Act, the provisions of the Act-Cooperative Law apply.

2. The statutes of the cooperative bank under the rigorous of nullity should be drawn up in the form of a notarial deed.

C. Banks in the form of joint-stock companies

Article 21. [ Create a bank in the form of a joint-stock company] The provisions of the Commercial Companies Code shall apply to the establishment and operation of a bank in the form of a joint-stock company, unless the provisions of the Act provide otherwise.

Article 22. [ Supervisory Authority] 1. The function of the supervisory authority shall be in the bank of a supervisory board consisting of at least five natural persons.

2. Members of the Supervisory Board shall appoint and cancel the General Assembly.

3. The Bank shall inform the Financial Supervision Commission of the composition of the supervisory board and of the change of its composition immediately after its appointment or after making a change of its composition.

Article 22a. [ Bank Management Board] 1. The Board of the Bank shall consist of at least three natural persons appointed and dismissed by the Supervisory Board, subject to Art. 22b.

2. The Supervisory Board shall inform the Financial Supervision Commission of the composition of the Management Board and of the change of its composition immediately after its appointment or after making a change of its composition. The Supervisory Board shall also inform the Financial Supervision Commission of the members of the Management Board, which shall be subject, in particular, to the management of risks and the internal audit function.

Article 22b. [ Appointment of two bank board members] 1. The appointment of two members of the management board of the bank, including the President, shall be followed with the approval of the Financial Supervision Commission. An application for consent shall be requested by the Supervisory Board.

2. The Polish Financial Supervision Authority may request information and documents concerning the persons mentioned in the paragraph. 1 to the extent necessary to give consent.

3. The Polish Financial Supervision Authority refuses to consent to the appointment of the person referred to in the paragraph. 1, if:

1) it was punished for a deliberate offence or a treasury offence, with the exclusion of crimes prosecuted from private prosecution;

2) have caused documented losses in the workplace or in connection with the function of a member of the body of the legal person;

3) was given to it a decision not to conduct an economic activity on its own account and to serve as a representative or agent of the entrepreneur, a member of the supervisory board or a review commission in a joint stock company, a limited company the responsibility or cooperative;

4) does not meet the requirements laid down in Art. 30 par. 1 point 2, subject to paragraph. 4.

4. The Polish Financial Supervision Authority will waive, by means of a decision, issued at the request of the supervisory board of the bank from the requirement of proven knowledge of the Polish language referred to in art. 30 par. Article 1 (1) (1) (1) (1) (b) (1) (b) of the European Central Bank (2) of the European Central Bank of the European Union (2),

5. The Polish Financial Supervision Authority may refuse to consent to the appointment of a person mentioned in the paragraph. 1, if:

1) is conducted against it criminal proceedings or proceedings in a treasury crime case;

2) was punished for a crime other than those referred to in the mouth. 3 point 1.

(6) If the conditions laid down in the paragraph are not met, 3 and 5, the provision of the paragraph. 1 shall not apply to the appointment for another term of office of persons referred to in paragraph 1. 1 and to the appointment of the first bank of the bank of persons approved in the permit to create this bank.

7. The decision referred to in paragraph. 1, may specify the term to which the appointment of the persons referred to in the paragraph should be established. 1. If the person concerned is not appointed within the prescribed period, the decision shall expire. Article Article 162 § 3 of the Code of Administrative Procedure does not apply.

Article 22c. [ Protocol] 1. The protocol of the general meeting shall be drawn up in accordance with art. 421 Code of Commercial Companies and should contain:

1) the content of the requests submitted during the general meeting;

2) the name of the person submitting the application;

3) the name or company of the person on whose behalf the application was requested;

4) the decision on the application.

2. The protocol referred to in paragraph 2. 1, should be submitted to the Financial Supervision Commission within 14 days from the date of the end of the General Assembly.

Article 23. (repealed).

Article 24. (repealed).

Article 25. [ Obligations of the buyer of the bank shares] 1. The entity that intends, whether directly or indirectly, to acquire or to cover shares or rights from the shares of the national bank in the number of attainment or exceeding 10%, 20%, one third, 50% of the total number of votes at the general level the Assembly or the participation in the share capital is required to notify the Financial Supervision Commission of its intention to acquire or subscribe to it. An entity that intends, directly or indirectly, to become the parent of a national bank in a manner other than that of the acquisition or acquisition of shares or rights from a national bank's shares in a number which provides the majority of the total number of votes at the general level The Commission shall, in any event, notify the Commission of the Financial Supervision Authority.

2. A parent undertaking in relation to the entity which is directly becoming the entity shall be considered to be the parent of a national bank, or indirectly acquiring or consisting of shares or rights, of a national bank. the parent of the national bank or acquires or covers shares or rights from the shares of a national bank directly, as well as the entity which takes action to make it a dominant entity in relation to the entity which is the entity the parent of the national bank either holds shares or rights from the shares of the national bank.

3. Where an entity that intends to:

1) directly to acquire or take stock of shares or rights from the shares of a national bank or become the parent of a national bank, is a subsidiary, the notice shall submit only that entity together with its original parent entity;

2) indirectly to acquire or embrace the shares or the rights of the shares of the national bank or become the parent of a national bank, is a subsidiary, the notice shall submit only its original parent.

4. The obligation of the notification referred to in paragraph. 1, also applies to:

1) pledge and user of shares, if according to art. 340 § 1 of the Code of Commercial Companies they are entitled to exercise the right to vote from shares;

2) the entity which obtained the right to vote at the general meeting at the levels specified in the paragraph. 1 as a result of events other than the coverage or acquisition of shares or rights from the shares of the national bank, in particular as a result of the amendment of the statutes or following the expiration of the preference or restriction of shares as to the right to vote, as well as the acquisition of shares or rights with the shares of the national bank in the number of attainment or exceeding the levels set out in the paragraph. 1 in the total number of votes at the general meeting or participation in the share capital as a result of the succession.

5. In the case referred to in paragraph. 4, the obligation to make a notification shall arise before the exercise of the right to vote on shares or the exercise of the powers of the parent undertaking in relation to the national bank The provisions of Article 4 25a-25n shall apply mutatis mutandis.

6. To the entities referred to in paragraph. 4, the provisions of the paragraph. 2 and 3 shall apply mutatis mutandis.

7. The provisions of the paragraph. 1-6 and 9 shall apply mutatis mutandis in the case where two or more entities act in an agreement, the subject of which is the exercise of voting rights from shares at the levels specified in the paragraph. 1 or exercise of the powers of the parent of a national bank.

8. In the case of an action in the agreement referred to in paragraph. 7, the notification shall submit all the parties to the agreement together.

9. The provision of the paragraph. 1 shall not apply where the acquisition or acquisition of shares of a national bank is carried out by a national bank, a credit institution, a brokerage house or an investment firm established in the territory of another Member State, in the performance of the contract of the investment sub-issue as referred to in the Act of 29 July 2005. public offering and conditions for the introduction of financial instruments to an organised trading system and on public companies, if:

1) the rights of the shares are not exercised in order to interfere with the management of the national bank and

2) shares of the national bank will be disposed of during the year from the date of their acquisition or coverage.

Article 25a. [ Transmission of information about shares held directly or indirectly by shares or rights from the shares of the national bank, the content of the notification] 1. The subject of the notification referred to in art. 25 par. 1, it shall communicate with the notice of the direct or indirect holding of shares or rights from the shares of the national bank referred to in Article 25 par. 1, as well as of the parent entities of this entity and concluded by that body of agreements and of the entity's remaining in fact or in law enabling other entities to exercise the rights of the shares of the national bank or exercising the powers of the parent of a national bank.

2. The subject referred to in paragraph 2. 1, indicate in the notice of the implementation of the intention to which the notification relates, and submit evidence indicating the existence of the intention to be notified, in particular the relevant agreement or agreement, and where the intention is to be executed on a regulated market, a relevant statement in this respect.

3. In the case where the reporting agent is:

(1) an insurance undertaking, a reinsurance undertaking, a credit institution, an investment firm or a management company which has been authorised to carry out its activities in the territory of a Member State, or

(2) a parent undertaking or an entity similar to that of an insurance undertaking, a reinsurance undertaking, a credit institution, an investment firm or a management company which has been authorised to carry out its activities in the territory of the Member State

-the notification shall contain appropriate information in this respect, indicating in particular the name and establishment of the insurance undertaking, the reinsurance undertaking, the credit institution, the investment firm or the management company referred to in point 2; if not where the circumstances set out in points 1 and 2 are present, the notification shall include an appropriate statement in that regard.

Article 25b. [ Range of information to be provided] 1. The subject of the notification referred to in art. 25 par. 1, submit with the notification the information concerning:

1) the identification of the notifying party, the persons managing his business and the persons intended to take up the functions of the members of the management board of the national bank-provided that the reporting agent plans changes in this regard;

2) the identification of the national bank referred to in art. 25 par. 1;

3) the professional, economic or statutory activity of the notifying party and the persons referred to in point 1, and in particular the subject matter of the activity, the scope and place of its conduct and the existing its course, as well as the education held by the reporting agent, being the natural person, and the persons referred to in point 1;

4) the group to which the reporting agent belongs, and in particular its structure, its affiliated entities, legal and factual capital, financial and personal links with other entities;

5) the economic and financial situation of the entity making the notification;

6) sentencing for a crime or a treasury offence, proceedings conditionally decommitted, and completed punishing disciplinary proceedings, as well as other completed administrative and civil proceedings, concerning the storer the notification or persons referred to in point 1 that may have an impact on the assessment of the applicant in the light of the criteria laid down in Article 4 (1) of the Regulation. 25h ust. 2;

7) ongoing criminal proceedings for a deliberate offence-excluding crimes prosecuted from private prosecutions-or proceedings in a tax offence, as well as other pending administrative, disciplinary and/or criminal proceedings the civil, which may have an impact on the assessment of the reporting entity in the light of the criteria set out in Article 25h ust. 2, and carried out against the notifier or to the persons referred to in point 1 or proceedings relating to the activities of that entity or of such persons;

(8) actions for the acquisition or placing of shares or rights from shares in a number which ensures that the levels set out in the Article are reached or exceeded. 25 par. 1 or become the parent of a national bank and, in particular, the target share of the total number of votes at the general meeting of the national bank, related to this share of the powers, the way and the sources of the financing of the acquisition or the taking up of shares or the rights of shares concluded in connection with those activities of the agreements and the operation in consultation with other entities;

9) intentions of the notifying party in relation to the future activities of the national bank, in particular in the scope of marketing, operational, financial and organisation and management plans, taking into account commitments, o which are referred to in art. 25h ust. 3.

2. Information in terms of qualifications and professional experience, as well as information in the scope specified in the paragraph. 1 points 6 and 7 are not required in respect of the notifying party and the persons managing his business, if the reporting agent is a national bank, a credit institution, an insurance undertaking, a reinsurance undertaking, a brokerage house, an investment firm or a management company authorised to carry out its activities in a Member State, provided that this circumstance is demonstrated in the notice.

3. The Minister responsible for financial institutions shall determine, by means of a regulation, documents to be attached to the notification in order to present the information referred to in the paragraph. 1, with a view to ensuring the proportionality of the information requested, depending on the intended effect of the notifying party on the management of the national bank.

Article 25c. [ Language of the notice and attached documents] 1. The notice and attached documents should be made in Polish or translated into Polish. The translation should be made by a sworn translator or the competent Consul of the Republic of Poland.

2. The official documents before translation should be legalized by the Consul of the Republic of Poland. The obligation of legalization shall not apply if the international agreement, of which the Republic of Poland is a party, provides otherwise.

Article 25d. [ Statement of required information in place of documents] In duly justified cases, in particular where the law of the competent country does not provide for the preparation of the required documents, the reporting agent or the person concerned may, in place of those documents, make a statement, containing the required information.

Art. 25e. [ Establishment of an agent for service in the course of the procedure for notification] 1. The subject of the notification referred to in art. 25 par. 1, domiciled or established outside the borders of the Republic of Poland, it is obligatory to establish in the territory of the Republic of Poland a proxy for service in the course of the proceedings on the notification.

2. In the event of failure to comply with the obligation referred to in paragraph. 1, the letters in the course of the proceedings shall be left in the file with effect of service, with the exception of the decision terminating the proceedings. The Financial Supervision Commission shall inform the reporting agent in writing of the effect referred to in the preceding sentence.

Article 25f. [ Occurrence KNF to provide information] Where the person making the notification referred to in Article 25 par. 1, is the entity referred to in art. 25a par. 3 (1) or (2), the Financial Supervision Commission shall request the competent supervisory authority to provide information within the scope set out in Article 3 (2). 25h ust. 2, in order to determine whether there is a condition referred to in art. 25h ust. 1 point 3.

Article 25g. [ KNF Competence in Notice] 1. The Polish Financial Supervision Authority shall, without delay after receiving the notification, but not later than within 2 working days, confirm in writing its receipt.

2. In the event of a statement of deficiencies in the notice or when the required information or documents are not attached to it, the Financial Supervision Authority shall invite the notifying party to complete these deficiencies within the prescribed period.

3. The Polish Financial Supervision Authority shall, without delay after receiving the information or documents in addition to the notification, but no later than 2 working days, confirm in writing their receipt.

4. The Polish Financial Supervision Authority, together with the confirmation of receipt of the notification and all the required information and documents, shall inform the notifying party of the date of expiry of the time limit for service of the decision on the object of the opposition in question in Article 25h ust. 1.

5. The Financial Supervision Commission may, before the end of 50. the working day of the time limit for service of the opposition decision, in writing to call upon the notifying party to provide additional necessary information or documents within 20 working days from the date of receipt of the call, and in the case of when:

(1) the place of residence or the place of residence of the person making the notification is situated in a non-member country or supervises the supervisory authorities of a non-Member State, or

2. the reporting agent is not subject to insurance supervision, supervision of the capital market or to banking supervision by the supervisory authorities of a Member State

-within the prescribed period, not less than 20 and not more than 30 working days from the date of receipt of the call, indicating the extent of the information requested or the documents requested.

6. In the case of the call referred to in paragraph. (5) A suspension of the time limit for service of the opposition decision shall be suspended from the date on which the call for information or documents is sent, but no longer than the expiry of the time limit for the transmission of information or documents.

7. The Commission of Financial Supervision in writing confirms receipt of the information or documents referred to in paragraph. 5, within no more than 2 working days from the date of receipt.

(8) In the event of further calls by the Financial Supervision Commission to provide additional information or documents, the time limits for the transmission of the information or documents referred to in paragraph 1 shall not apply. (5) These requests do not give rise to a suspension of the time limit for the service of the opposition.

Art. 25h. [ KNF's objection as to the acquisition or taking up of shares or rights from shares or as to become the parent of a national bank] 1. The Polish Financial Supervision Authority shall report, by decision, an objection to the acquisition or placing of shares or rights from shares or what to become the parent of a national bank, if:

1. the reporting agent has not completed the deficiencies in the notification or attached to the notification of documents and information within the prescribed time limit;

2) the complainant party has not submitted any additional information or documents requested by the Financial Supervision Commission within the time limit;

(3) It is justified by the need for prudent and stable management of the national bank, given the possible impact of the reporting agent on the national bank or the assessment of the financial situation of the notifying party.

(2) In the context of the assessment of the existence of the condition referred to in paragraph 1, In accordance with Article 1 (1) (3), the Financial Supervision Commission shall examine whether the reporting agent has shown that:

1) provides a guarantee of the exercise of its rights and obligations in a manner that adequately safeguards the interests of the clients of the national bank and ensures the security of the funds collected at the national bank;

2) the persons who will direct the activities of the national bank give a guarantee of the conduct of the bank's affairs in a way that adequately safeguards the interests of the bank's clients and ensures the security of the funds collected at the bank and have the appropriate professional experience;

3) is in good financial condition, in particular with regard to the current range of activities carried out, as well as the impact of the implementation of the investment plans on the future financial situation of the entity making the notification and the future situation the financial national bank;

4) ensure the national bank's compliance with prudential requirements resulting from the law, including capital requirements, liquidity standards, internal control, risk management and, in particular, that the structure of the group which the bank will become the part, will enable efficient supervision and an effective exchange of information between the competent supervisory authorities and the setting of the jurisdiction of those authorities;

(5) financial measures relating to the acquisition or acquisition of shares or rights from shares or taking other measures aimed at becoming a parent undertaking, that the national bank will become a subsidiary, do not come from illegal or undisclosed sources and have no connection with the financing of terrorism or in relation to the intended acquisition or acquisition of shares or rights from shares or taking other measures intended to become a dominant actor, there is no increased risk committing a crime, as well as the occurrence of other activities related to the introduction to the marketing of financial resources from illegal or undisclosed sources or terrorist financing.

3. In making the assessment referred to in paragraph. In particular, the Financial Supervision Authority shall take into account, in particular, the obligations of the entity relating to the national bank or prudent and stable management of the entity in connection with the proceedings.

4. The Polish Financial Supervision Authority may, within the period specified in art. 25i ust. 1, issue a decision stating that there are no grounds to raise objections, if it finds that the circumstances indicated in the paragraph are not present. 1.

5. Issuing the decision referred to in paragraph. 4, the Financial Supervision Commission may set a time limit for the acquisition or entry of shares or rights from shares or to obtain the powers of the parent of a national bank.

6. The term referred to in paragraph 5, may be extended ex officially or at the request of the person submitting the notice.

Art. 25i. [ Notification of the decision on the opposition] 1. The Commission of the Financial Supervision shall serve the decision on the opposition referred to in Article 4. 25h ust. 1, within 60 working days from the date of receipt of the notification and all the required information and documents, no later than 2 working days from the day of its issue.

2. The time limits provided for the service of the decision terminating the proceedings concerning the opposition shall be deemed to have been preserved if, before their expiry, the decision was given at the postal service of the operator designated within the meaning of the Act of 23 November 2012 r. -Postal law (Dz. U. Entry 1529).

Article 25j [ Conditions for the implementation of the notification plan] The notifying party may carry out its intention to notify if the Financial Supervision Authority does not deliver a decision on the opposition within the period of 60 working days referred to in Article 4. 25i ust. 1, or if, before the expiry of that period, the Polish Financial Supervision Authority will issue a decision declaring that there are no grounds for objection.

Article 25k [ The period of time when the administrative court has annulled the decision on opposition] Where the administrative court has annulled the decision on opposition, the time limit referred to in Article 4 (1) of the Rules of 25i ust. 1, shall run from the date on which the final judgment of the Administrative Court was served on the Financial Supervision Commission.

Article 25l. [ Acquisition or acquisition of shares or rights from shares, resolutions, national bank representation activities involving members of the management board in breach of the rules] 1. In the case of acquisition or placing of shares or rights from shares:

1) in violation of the provision of art. 25 par. 1 or

2) despite the notification by the Polish Financial Supervision Authority of the opposition referred to in art. 25h ust. 1, or

3) before the expiry of the period of entitlement of the Polish Financial Supervision Authority to the application of the objection referred to in art. 25h ust. 1, or

4) after the deadline set by the Polish Financial Supervision Authority for the acquisition or acquisition of shares or rights from the shares referred to in art. 25h ust. 5

-no voting rights may be exercised in those shares, subject to the provisions of Article 4 (1) of the 25m.

2. In the case of exercising the powers of the parent of a national bank:

1) in violation of the provision of art. 25 par. 1 or

2) in the case of the notification by the Polish Financial Supervision Authority of the objection referred to in art. 25h ust. 1, or

3) before the expiry of the period of entitlement of the Polish Financial Supervision Authority to the application of the objection referred to in art. 25h ust. 1, or

4) obtained after the expiry of the time limit referred to in art. 25h ust. 5

-members of the board of directors of the national bank appointed by the parent undertaking or members of the management board, public prosecutors or persons acting as managers in the parent undertaking may not participate in the bank's representation activities national; where it is not possible to determine which members of the management board have been appointed by the parent undertaking, the appointment of the management board shall be ineffective from the date of obtaining the powers of the parent of the national bank by that body, subject to the provisions of Article 4 (1) of the 25m.

3. The Resolutions of the General Assembly of the National Bank, taken in violation of the paragraph rule. 1 shall be invalid unless they meet the requirements of the quorum and the majority of the votes cast without taking into account the unexpired votes. In the cases referred to in paragraph 1. 1, the right to bring an action for annulment of the resolution of the general meeting shall also be entitled to the Polish Financial Supervision Authority. Article Recipe 425 of the Code of Commercial Companies shall apply mutatis mutandis.

4. National bank representation activities involving members of the board in violation of the provisions of the paragraph. 2 are invalid. Article Recipe 58 § 3 of the Civil Code shall apply accordingly.

5. In the case referred to in paragraph. 1 or 2, the Financial Supervision Authority may, by decision, order the disposal of the shares of the national bank within the prescribed time limit.

6. If the shares are not sold within the time limit referred to in paragraph. 5, the Financial Supervision Commission may impose a cash penalty on a shareholder of the national bank up to the amount of 10,000,000 PLN, establish at the national bank a commissioned board or waive the permit to form a bank and decide to liquidate the bank. The provisions of Article 4 145, art. 147 para. 3 and art. 153-156 shall apply mutatis mutandis.

Art. 25m. [ Conditions for the repeal of the prohibitions] Where the interests of the clients of a national bank so require and the applicant shows that there is no indication of the condition referred to in Article 4 (1) of the Regulation, 25h ust. 1 point 3, the Financial Supervision Commission may, in particularly justified cases, by decision, issued at the request of a shareholder or the parent of a national bank, to repeal the prohibitions referred to in art. 25l par. 1 or 2. The applicant shall include the information referred to in Article 1. 25b par. 1.

Article 25n. [ Prohibition of exercising the right to vote from a national bank's shares or exercising the powers of the parent of that entity] 1. If it is justified by the need for prudent and stable management of the national bank, in view of the assessment of the financial position of the entity, including the founder of the national bank, which obtained directly or indirectly the right to exercise the vote on the general government the assembly at the levels specified in the art. 25 par. (1) either directly or indirectly, or in view of the possible impact of that entity on the bank, and in particular where it is found that the entity does not comply with the obligations referred to in Article 1 (1) of that Regulation. 25h ust. 3, or the obligations referred to in art. 30 par. 1b, the Polish Financial Supervision Authority may, by decision, prohibit the exercise of voting rights from the shares of the national bank held by that entity or exercise the powers of the parent undertaking of that entity. When assessing whether or not there is a condition for issuing that prohibition, the provisions of Article 4 25h ust. 2 and 3 and Article 3 30 par. 1b shall apply mutatis mutandis.

2. The decision of the general meeting of the national bank shall be invalid if, when it is taken, the voting rights of the shares in respect of which the Commission's Financial Supervision Authority has adopted the decision referred to in paragraph 2 have been made. 1, unless the resolution meets the requirements of the quorum and the majority of the votes cast without taking account of the invalid votes. The right to bring an action for annulment of a resolution shall also be entitled to the Commission for Financial Supervision. Article Recipe 425 of the Code of Commercial Companies shall apply mutatis mutandis.

3. If the Polish Financial Supervision Authority has issued on the basis of the paragraph. 1 decision on the prohibition of the exercise of the powers of the parent undertaking, the provisions of Article 1 25l par. 2 and 4 shall apply mutatis mutandis.

4. In the case of the decision referred to in the paragraph. 1, the Polish Financial Supervision Authority may, by decision, order the disposal of the shares within the prescribed period.

5. If the shares are not sold within the time limit referred to in paragraph. 4, the Financial Supervision Authority, may impose a cash penalty on a shareholder of the national bank up to the amount of PLN 10,000 000, establish at the national bank a commissioned board or waive the authorisation to create a bank and decide to liquidate the bank. The provisions of Article 4 145, art. 147 para. 3 and art. 153-156 shall apply mutatis mutandis.

6. At the request of the shareholder or the parent entity, the Financial Supervision Commission repeals the decision issued on the basis of the paragraph. 1 if the circumstances justifying the adoption of that decision have ceased.

7. The provisions of the paragraph. 1-6 shall apply mutatis mutandis in the case referred to in Article 3. 25 par. 7, to the entities party to the agreement referred to in that provision.

Article 25o. [ Acquisition or acquisition of shares or rights from the shares of a national bank-notification] An entity that has acquired, directly or indirectly, shares or rights from a national bank's shares, if they constitute, together with shares acquired or previously covered by a package which ensures that the threshold is reached or exceeded 5%, 10%, 20%, 25%, one third, 50%, 66% and 75% of the total number of votes at the general meeting or became the parent of a national bank, shall be notified to the bank without delay. The Bank shall send the Financial Supervision Authority a notification within 14 days from the date of its receipt. Where the statutes of a national bank provide for the preference or limitation of shares in voting rights, the notification should also apply to the share capital of the amount corresponding to the quantities set out in the first sentence and corresponding to the number of votes without privileges and limitations. The provisions of Article 4 25 par. 2-7 shall apply mutatis mutandis.

Art. 25p. [ The obligation to notify the KNF of the intention of direct or indirect disposal of the holding of the national bank's shares] An entity that intends to direct or indirectly a holding of a national bank's shares:

1) entitling to exercise more than 10% of the total number of votes at the general meeting,

2) as a result of the disposal of which the remaining holding of shares in its possession will entitle to perform less than 10%, 20%, one third and 50% of the total number of votes at the general meeting

-is required to notify the Commission of its intention to the Financial Supervision Authority. Where the statutes of a national bank provide for the preference or limitation of shares in voting rights, the notification should also apply to the share capital of the amount corresponding to the quantities set out in the first sentence and corresponding to the number of votes without privileges and limitations; the provisions of the art. 25 par. 2-7 shall apply mutatis mutandis.

Art. 25r. [ Relevant application of the provisions] Obligation as referred to in Article 25o and 25p, shall apply mutatis mutandis in the case of the acquisition and disposal of convertible bonds on the shares of the national bank, the deposit receipts, as well as other securities from which the law or the obligation to acquire the shares of a national bank is apparent.

Art. 25s. [ Adequate application of the rules to cooperative banks which are cooperatives of legal persons] The provisions of Article 4 25-25r shall apply mutatis mutandis to cooperative banks which are cooperatives of legal persons whose statutes provide, other than those referred to in Article. 36 § 3, first sentence, of the Act-Cooperative law, the principle of determining the number of votes to be granted to members.

Article 26. (repealed).

Art. 26a. (repealed).

Art. 26b. (repealed).

Art. 26c. (repealed).

Article 27. [ Acquisition of shares by a subsidiary] 1. The acquisition or holding of shares by a subsidiary shall be considered to be the acquisition or holding of shares by the parent entity.

2. The provisions of this Act do not violate the provisions of Chapter 9 of the Act referred to in art. 4 par. 1 point 8.

Article 28. [ Bank shares] 1. Shares of banks, excluding dematerialised shares in accordance with the provisions of the Act of 29 July 2005. marketing of financial instruments (Dz. U. of 2010 Nr 211, pos. 1384, as of late. zm.), are imienous shares. In the period of the year, counting from the date of entering the bank into the register of entrepreneurs, the disposal of registered shares by the shareholders requires the authorisation of the Polish Financial Supervision Authority.

2. In the event of the exclusion of the bank's shares from trading on a regulated market or the abolition of the dematerialisation of the bank's shares in accordance with the provisions referred to in the paragraph. 1, bearer shares shall be converted into roll-call shares.

3. To the shares of the national bank covered by the founder in the case referred to in art. 42a, the provisions of Article 4 shall not apply. 336 § 1 and 2 of the Commercial Companies Code.

Article 29. (repealed).

D. Proceedings in the creation of banks

Article 30. [ Bank Creation Conditions] 1. The creation of a bank may take place if:

1) the equipment of the bank was provided in:

(a) own funds, the size of which should be adapted to the type of banking activities provided for the execution and size of the intended activities,

(b) premises with appropriate technical equipment, duly safeguded in the value bank, taking into account the scope and type of banking activities carried out;

2) the founders and persons intended to be placed in the bank of the positions of the members of the Management Board, including the President, give a guarantee of prudent and stable management of the bank, with at least two persons scheduled to be included in the bank of the positions of the Management Board members have the professional education and experience necessary to guide the bank and the proven knowledge of the Polish language;

3. (repealed);

4) submitted by the founders of the bank's business plan for a period of at least three years indicates that this activity will be safe for the cash collected at the bank.

1a. The Polish Financial Supervision Authority will depart, by means of a decision issued at the request of the founders, from the requirement of proven knowledge of the Polish language referred to in the paragraph. Article 1 (1) (1) (1) (1) (b) (1) (b) of the European Central Bank (2) of the European Central Bank of the European Union (2),

1b. In the procedure for authorising the creation of a bank to assess the fulfilment by the founders of the requirement referred to in paragraph 1. In particular, point 2 of the Financial Supervision Authority shall take into account, in particular, the obligations of the founders in relation to the conduct of the establishment of the bank or the prudent and stable management of the bank.

2. Part of the initial capital may be contributed in the form of non-cash contributions in the form of equipment and immovable property, if they will be directly useful in conducting banking activities, with that of the founding capital contributed in the form of The monetary policy may not be lower than the amount specified in the Article. 32 par. 1, and the value of contributions of non-cash contributions shall not exceed 15% of the initial capital.

3. (repealed).

4. The Polish Financial Supervision Authority may, in particularly justified cases, agree to exceed the limit referred to in paragraph. 2.

5. The founding capital of the bank may not come from a loan or credit, or sources of undocumented.

Article 30a. [ Permit] The bank in the form of a joint-stock company and a cooperative bank may be created after obtaining the permission of the Financial Supervision Commission.

Article 31. [ Application for authorisation to create a bank] 1. The application to the Polish Financial Supervision Authority for the issuance of a permit for the creation of a bank should contain:

1) determination of the name and seat of the bank;

2) determination of the banking activities to which the bank is to be authorised, and the data on the subject and scope of the intended activity;

3. data on:

(a) the founders and persons to be included in the bank of the board of directors,

(b) the founding capital.

2. The application shall be accompanied by:

1) draft statutes of the bank;

2) a programme of activities and a financial plan of the bank for a period of at least three years;

3) the documents concerning the founders and their financial situation, required by the Financial Supervision Commission;

(3a) the documents referred to in Article 82 ust. 2 points 2 to 5 and 7 of the Law of 29 July 2005. marketing of financial instruments corresponding to the scope of the activities referred to in Article 69 par. 2 points 1 to 7 of this Act, which the bank intends to carry out in accordance with art. 70 par. 2 of this Act;

4) the opinion of the competent supervisory authority of the applicant country of the applicant, if the founder is a foreign bank.

3. Draft of statutes referred to in paragraph. In particular, point 1 of point 1 shall specify:

1) a company which should contain an isolated word "bank" and differentiate itself from the names of other banks and indicate whether it is a state bank, a bank in the form of a joint stock company or a cooperative bank;

2. the location, subject matter and scope of the bank's activities taking into account the activities referred to in art. 69 par. 2 points 1-7 of the Act of 29 July 2005. the trading of financial instruments that the bank intends to carry out in accordance with art. 70 par. 2 of this Act;

3) bodies and their competences, with particular emphasis on the competence of the members of the Management Board referred to in art. 22b par. 1, and the decision-making principles, the basic organisational structure of the bank, the rules for making declarations in terms of property rights and obligations, the mode of issuing internal regulations and the mode of making decisions about the commitment of liabilities or a Regulation of assets whose total value in relation to one entity exceeds 5% of own funds;

4) the rules of operation of the internal control system;

5) own funds and financial economy rules.

4. If the request for authorisation to create a bank occurs more than 10 founders, they are obliged to establish 1-3 representatives, who will represent them to the Polish Financial Supervision Authority during the period prior to the issuance of the permit to create a bank. Power of attorney should be drawn up in the form of a notarial deed.

Article 32. [ Minimum amount of initial capital] 1. Vworn by the founders of the bank, the founding capital, subject to the paragraph. 2, may not be lower than the equivalent in PLN 5 000 000 converted according to the average rate announced by the National Bank of Poland, in force on the day of issuance of the permit for the creation of the bank.

2. In the case of cooperative banks, whose founders have expressed their intention to enter into an association agreement, on the basis of the Act on the Functioning of cooperative banks, their association and the association banks, the initial capital may not be lower than the equivalent in PLN 1 000 000 converted according to the average rate announced by the National Bank of Poland, in force on the date of issuance of the permit for the creation of the bank.

3. The founding capital of a bank contributed in monetary form must be paid by the founders in the Polish currency to the bank account at the national bank, opened in order to make contributions to the bank's founding capital.

4. The cover of the full amount of the initial capital of the bank in the form of a joint-stock company and a cooperative bank should be made before the bank is entered in the relevant register.

5. The payment of the initial capital of the state bank, as well as the discharge from the assets of the Treasury other funds to cover the initial capital should be made before the state bank's submission to the Financial Supervision Authority of the application for a permit to commence business.

Article 33. [ The issuance of the decision to allow the establishment of the bank] 1. Financial Supervision Commission:

1) calls on the founders to supplement the application if it does not conform to the requirements laid down in art. 31, and may request supplementary data or documents relating, in particular, to the founders and persons provided for in the bank of the positions of the members of the Management Board, including the information on their property and family situation, if the information is necessary for the decision to issue a permit for the establishment of the bank;

2. within a period of not more than 3 months from the date of receipt of the application or supplementing it, it shall issue a decision on the authorisation of the establishment of the bank.

2. The Polish Financial Supervision Authority may, in justified cases, extend up to 6 months the time limit for issuing the decision referred to in paragraph. 1 point 2, informing the founders before the expiry of the period of 3 months from the date of receipt of the application or of its completion.

Article 34. [ The contents of the permit to create the bank] 1. In the permit for the formation of the bank, the Polish Financial Supervision Authority shall specify: the company of the bank, its registered office, the names of the founders and the shares covered by them, the amount of the initial capital, the activity which the bank is authorized to perform, and the conditions under which the Polish Financial Supervision Authority will allow the bank to start its business and approve the draft statutes of the bank and the composition of the bank's first management board.

2. The change of the bank's statutes requires the authorisation of the Polish Financial Supervision Authority, if it concerns matters mentioned in art. 31 par. 3 and the preference or limitation of shares in the form of a public limited company in the form of a public limited liability company and, in the cooperative society of the cooperative society, the rules for determining the number of voting rights of members other than those referred to in Article 3 (2) of the Rules of Law of the European 36 § 3 sentence of first law-Cooperative law.

2a. A permit to amend the statutes may specify the time limit within which the resolution should be adopted. In the event of failure to act within the prescribed period, the decision shall expire. Article Article 162 § 3 of the Code of Administrative Procedure does not apply.

3. To the application for authorization to amend the statute of the bank provision of art. 31 par. 2 pt. 3a and art. 33 shall apply mutatis mutandis.

Article 35. [ Participation of the Financial Supervision Commission in the registry proceedings] The Financial Supervision Commission may be a participant in the register proceedings concerning the bank.

Article 36. [ Permit to start of business] 1. The Bank may start its operations after obtaining the permission of the Financial Supervision Commission.

2. With the application for authorisation to start by the bank of the activity there is a management board of the bank.

3. A permit to start by a bank of activity shall be issued after stating that the bank:

1) is duly prepared for the organization to start operations;

(2) collect the initial capital in its entirety;

3. have adequate conditions for the storage of cash and other values, taking into account the scope and type of banking activities carried out;

4) meets the other conditions set out in the decision to issue the permit to create the bank.

3a. The Polish Financial Supervision Authority shall inform the European Banking Authority of the authorisation referred to in paragraph 1. 1, including information on its content.

4. The Bank shall notify the Bank Guarantee Fund of obtaining an entry in the National Court Register.

Article 37. [ Refusal to issue a permit to create a bank or change its statutes] The Committee on Financial Supervision refuses to grant authorisation to create a bank or to amend its statutes, if the requirements of the creation of the bank were not met or the bank's intended activities would be in breach of the laws, interests of the bank of the clients or would not guarantee the security of the funds collected at the bank or where the legislation in place at the place of the founder or residence of the founder or his/her association with other entities could prevent the effective exercise of supervision over the Bank.

Article 38. [ Loss Of Authorisations] Authorisations referred to in Article 34 par. 1 and in Art. 36 ust. 1, they shall be repealed if, within one year of the authorisation of the establishment of the bank, the bank has not commenced its operation.

Article 39. [ Permit to create a bank or a bank branch abroad] 1. The creation abroad of the bank by the national bank, as well as the establishment of a branch of the national bank abroad, subject to art. 48a-48g, requires the permission of the Financial Supervision Commission.

2. The request to create a bank abroad should contain:

1) determination of the name, registered office and organizational form of the bank;

2) the data concerning the founders and the founding capital.

3. The application shall be accompanied by:

1) draft statutes and justification for the creation of a bank abroad;

2) a programme of activities and a financial plan of the bank for a period of at least three years;

3) information on the legal regulations in force in the host country in the scope of:

(a) authorisations for the establishment of the bank,

(b) tax rules on the activities of banks,

(c) the provisions on the transfer of foreign exchange and banking supervision.

4. The application for the establishment of a branch of a bank abroad should include a justification for establishing a branch of the bank abroad and the information specified in the paragraph. 3 point 3 on bank branches respectively.

Article 40. [ Permit to create a foreign bank branch in the country] 1. The establishment of a branch of a foreign bank in the country takes place on the basis of the permission of the Polish Financial Supervision Authority, issued after agreement with the Finance Minister , at the request of the bank concerned.

2. The application referred to in paragraph 2. 1, it shall contain:

1) the company and the registered office of the requesting bank and the characteristics of its activities;

2) the types of banking activities to which the authorized branch of the bank is to be executed, and the seat of the branch;

3) the amount of funds allocated at the disposal of the branch;

4) data relating to at least 2 persons intended to be included in the posts of the Director or his/her deputy;

5. in the case of entities subject to the compulsory guarantee scheme of the Bank Guarantee Fund, conditions of access to the calculation system referred to in art. 38d of the Act of 14 December 1994. o Bankowy Guarantee Fund (Dz. U. 2009 r. Nr 84, pos. 711, of late. zm.), by the Financial Supervision Commission and the Bank Guarantee Fund, in particular in case of fulfilment of the guarantee condition.

3. The application shall be accompanied by a draft of the Regulations of the Branch and the obligation of the foreign bank to meet any claims which may arise in the relations between the branch and other entities. Article Recipe 31 par. 2 shall apply mutatis mutandis.

4. In the permit for the establishment of a branch of a foreign bank in the country, the Polish Financial Supervision Authority shall determine in particular the seat of the branch, the type of banking activities for which the branch is authorised, the minimum amount of funds necessary the operation of the branch, the conditions for access to the system of calculation by the Financial Supervision Commission and the Bank Guarantee Fund, in particular in the event of fulfilment of the condition of guarantee, and shall approve the draft rules of procedure of the Branch. The Financial Supervision Authority shall notify the Guarantee Fund to the Financial Supervision Authority.

5. Departments of foreign banks shall be subject to the entry in the register of entrepreneurs.

6. The provisions of the Rules of Procedure shall apply mutatis mutandis to the establishment of a branch of a foreign bank in the country. 32-38.

7. The foreign bank branch operates on the basis of the regulations issued by the foreign bank.

8. Amendments to the rules of procedure referred to in paragraph 1. 7, require the authorisation of the Polish Financial Supervision Authority.

9. To the application for authorization to amend the Rules of Procedure of the Rules of the Art. 34 par. 2, 2a and 3 shall apply mutatis mutandis.

10. With the request referred to in paragraph 1. 9, there is a foreign bank.

Article 40a. [ Obligations of a branch of a foreign bank] 1. The branch of a foreign bank shall be obliged:

1) use the foreign bank company in the language of the country of its head office together with the translated into Polish the legal form of the bank and the addition of the words "branch in Poland";

2) to conduct a separate accounting in Polish, in accordance with the provisions of the applicable national banks;

3) operate in accordance with the approved rules;

4) keep any documents concerning his/her activities at the branch office.

1a. Foreign bank branch, which is not an entity covered by the compulsory guarantee scheme within the meaning of the Article. 2 point 3 of the Act of 14 December 1994. o The Bank Guarantee Fund, informs-in the manner in which information about the services provided is served-beneficiaries and interested in using its services o:

1. its economic and financial situation;

2) participation in the guarantee system and the rules of its functioning, including the subject of the subject matter and the protection of the subject of this system, indicating in particular:

(a) the amount of the maximum guarantee,

(b) the types of entities which may be considered eligible to receive a cash benefit.

1b. Branch of the foreign bank referred to in paragraph. 1a, it is obligatory to inform beneficiaries and interested in the use of its services in the absence of a guarantee protection in the event that:

1) the claim, arising in connection with the execution of banking activities, will not be protected by the guarantee system;

2) in connection with the execution of a different activity than the bank activity, a branch of a foreign bank shall issue a name document confirming its pecuniary obligation;

3) in connection with the services provided by a branch of a foreign bank, in particular involving intermediary in the conclusion of contracts, arise or may arise any receivables of the beneficiary and the interest in the use thereof services to another entity which is not covered by the guarantee scheme.

1c. The information referred to in paragraph 1. 1a points 2 and 3 Points 1 and 2 of 1b should also be included in the contracts between the beneficiary and the use of the services concerned and the foreign bank branch.

1d. Information concerning the mode and conditions of receipt of the cash benefit should be made available at the request of the beneficiary and the interested use of the services of the branch of the foreign bank.

1e. Any information made available to the beneficiary and the use of the services of a branch of the foreign bank pursuant to the provisions of paragraph 1 shall be provided. 1a-1c, should be given in the following manner:

1) in which information about the services provided is given;

2) unambiguous and understandable.

1f. Information on participation in the guarantee system may not be used for advertising purposes and should be restricted to the information specified in the paragraph only. 1a and 1b.

1g. Prohibition as referred to in paragraph 1. 1f shall also apply to entities which are not participants in the guarantee scheme.

2. The appointment of the Director and one of the deputies of the director of the foreign bank branch shall be followed by the approval of the Polish Financial Supervision Authority. The request for consent shall be made by a foreign bank. The provisions of Article 4 22b shall apply mutatis mutandis.

Article 41. [ Application of Polish law to foreign bank branches] The provisions of Polish law shall apply to branches of foreign banks operating in the Republic of Poland.

Article 42. [ Permit to open a foreign bank representation in the country] 1. Foreign banks and credit institutions may open their representations in Poland on the basis of the authorisation of the Polish Financial Supervision Authority issued, after agreement with the Minister competent for financial institutions, at the request of the person concerned bank or credit institution.

2. The application referred to in paragraph 2. 1, it shall contain:

1. determination of the company and the seat of the bank or credit institution and the characteristics of the business pursued by the bank or the credit institution applying to the request;

2. establishment of the seat of the Delegation and the scope of its operation;

(3) information on the candidate provided for the position of the representative of the bank or of the credit institution.

3. The provisions of Article 3 shall apply mutatis mutandis to the opening of a representative office of a bank and a credit institution. 33, art. 37 and Art. 38.

4. The scope of action of a foreign bank's representation and credit institution may include only the conduct of the business of advertising and promotion of a foreign bank or a credit institution within the scope set in the permit.

5. The Polish Financial Supervision Authority shall include in the Public Information Bulletin the list of issued, repealed and expired authorisations referred to in paragraph 1. 1.

6. The foreign bank and credit institution shall be notified to the Financial Supervision Commission:

1) any changes in the factual and legal status of the data referred to in the paragraph. 2;

2) information about the cessation of the exercise in the territory of the Republic of Poland activity in the form of representation.

7. The Polish Financial Supervision Authority, after agreement with the Minister competent for financial institutions, repeals the authorisation referred to in paragraph. 1, where:

1) a foreign bank or a credit institution grossly violates the Polish law or does not exercise the obligation referred to in the paragraph. 6;

2) the liquidation of a foreign bank or a credit institution or a foreign bank has forfeit the right to pursue an economic activity;

3) the activity of a foreign bank or credit institution's representative office grossly goes beyond the scope set in the permit;

4. the competent supervisory authority of the State in which a foreign bank or a credit institution has its head office or place of management has waived the authorisation of that bank or credit institution to operate its banking business.

8. In the case of the cessation by a foreign bank or a credit institution performing on the territory of the Republic of Poland the activities in the form of representation, the permit referred to in the paragraph. 1, expires. The Financial Supervision Commission shall, by decision, determine the termination of the authorisation.

Da. A special way of creating domestic banks by credit institutions operating on the territory of the Republic of Poland through a branch

Article 42a. [ The creation of a national bank by a credit institution carrying out banking activities on the territory of the Republic of Poland through a branch] 1. Credit institution, conducting banking activities on the territory of the Republic of Poland through a branch, may form a national bank in the form of a joint-stock company by providing the title of a non-monetary contribution of all assets of that branches which are intended to be carried out by that branch, provided that they constitute an undertaking or an organised part thereof. The shares of a national bank may only be covered by that credit institution.

2. The creation of a national bank by the credit institution referred to in paragraph 2. 1, shall apply, subject to Article 42b-42e, provisions concerning the creation of a bank in the form of a joint-stock company, with the exception of art. 30 par. 2 and 4 and Art. 36.

3. The consent referred to in art. 313 § 1-3 of the Code of Commercial Companies, should apply also to the transition of all assets of the branch to the national bank.

Article 42b. [ Documents necessary for the establishment of the bank] In addition to the documents referred to in Article 31 par. 2, to the application for authorisation of the creation of a national bank by the credit institution referred to in art. 42a (a) 1, the following shall be attached:

1. verified by the entity authorized to audit financial statements:

(a) establish the value of the assets of the branch for a specific day in the month preceding the submission of the application for the formation of the national bank, according to the accounting rules established by the branch, without any additional components being recognised in the assets; and making changes to the rules for determining estimates affecting the valuation of assets and liabilities,

(b) a statement containing information on the accounting status of the branch drawn up for the purposes of establishing the national bank for the date referred to in point (a), stating that the value of the non-monetary contribution corresponds to the carrying amount of the undertaking or an organised part of a branch of a branch which is valued in accordance with the current accounting rules adopted by the credit institution's branch;

2) an authenticated copy passed through the competent supervisory authorities of the State of the home notice concerning the intention to cease operations in the territory of the Republic of Poland through the branch;

3) information on permits, concessions and concessions that have been granted to a credit institution in connection with the establishment or operation of a branch, together with an authenticated copy of a notice other than the Financial Supervision Authority of the body which issued to grant or grant a concession, the intention to create a national bank and the possibility of a declaration of objection referred to in Article 42e ust. 2 point 3.

Article 42c. [ Control activities prior to the decision on the authorisation of the creation of a national bank] 1. Before issuing a decision on the authorisation of the creation of a national bank referred to in Art. 42a (a) 1, the credit institution's branch shall carry out control activities. These provisions shall apply to those provisions. 133 (1) 2-4, art. 135 and 136 shall apply mutatis mutandis.

2. The Polish Financial Supervision Authority refuses to issue a permit for the creation of a national bank, referred to in art. 42a (a) 1, if the creation can cause serious damage to the national economy or to the important interests of the state.

Article 42d. [ Loss of approval capacity] Permission to create a bank referred to in art. 42a (a) 1, shall lose power if the entry of the bank to the register of entrepreneurs is not made within the year from the date of service of the permit. The Financial Supervision Commission may specify in the authorisation a shorter deadline for the loss of its power, not less than 6 months, if justified by the need for prudent and stable conduct of the business by the bank being created.

Art. 42e. [ Entry into the business register] 1. A national bank set up by a credit institution on the basis of art. 42a (a) 1 shall start operations at the time of entry in the register of entrepreneurs. The deletion of a branch of a credit institution from the register of entrepreneurs is made from the office on the date of entering the national bank into the register of entrepreneurs.

2. On the entry into the Register of Entrepreneurs, the national bank referred to in paragraph. 1, it shall enter into all the rights and obligations of the credit institution related to the activities of the branch. The national bank shall undergo the permits, concessions and allowances which have been granted to the credit institution on the basis of the provisions in force in the territory of the Republic of Poland in connection with the establishment or operation of the branch, provided that:

1) have been disclosed in the information referred to in art. 42b (3);

2. the separate provisions or decisions to grant an authorisation, concession or concession do not provide otherwise;

3) prior to the issuance of the permit for the formation of the national bank the opposition did not submit to another authority which issued the permit or granted the concession.

3. Disclosure in the perpetual accounts or other registers of the transfer to the national bank of rights disclosed in those books or other records shall be made at the request of the bank.

4. The cash transferred by the credit institution to the business of the branch shall not constitute the obligations of the national bank.

5. In the case of the creation of the national bank referred to in paragraph. 1, the provisions of the Act of 29 September 1994 shall apply. of accounting (Dz. U. 2009 r. Nr 152, poz. 1223, as of late. zm.) to change the legal form of an entity.

6. The company in the organization, intended to become a bank referred to in the paragraph. 1, may request the Financial Supervision Commission to issue the authorisations referred to in art. 6a par. 1 point 1 lit. k and art. 6d par. 1, if these permits will be required from the moment of the bank entry to the register of entrepreneurs.

Article 42f. [ Solvency Ratio] 1. The national bank created on the basis of art. 42a (a) 1 shall be required to maintain a solvency ratio of at least 12% for the first 18 months of operation. Article 128 (1) 1 point 3 does not apply.

2. To the own funds of the national bank referred to in paragraph 2. 1, resulting from the transfer of initial capital, the limit on the share of non-monetary contributions to the bank's core funds, as defined in Article 3, shall not apply. 128 (1) 1.

E. Converting a state-owned bank into a public limited company

Article 43. [ Recast state bank] A state-owned bank may be transformed into a bank in the form of a joint-stock company.

Article 44. [ Transform Mode] Council of Ministers on request Minister of Treasury , after consulting the Polish Financial Supervision Authority, by means of a regulation:

1) converts a state-owned bank into a joint-stock company with the participation of the State Treasury;

2) specifies the extent to which the assets of the State bank will be transferred to a public limited liability company to cover the share capital in which the transfer of that property will be transferred to the company with the participation of the State Treasury.

Article 45. [ Succession of rights and obligations] The transformation of a state-owned bank into a public limited company does not make any changes to the extent of the administrative decisions of the bank and of the agreements concluded by the bank The transformation of the bank shall take place on the basis of the balance drawn up at the With this day the bank in the form of a joint-stock company shall enter into all the rights and obligations of the transformed state bank.

Article 46. [ Liquidation of State-owned bank] On the date of acquisition of legal personality by the bank in the form of a public limited company, the state bank is liquidated and its organs are dissolved.

Article 47. [ Application of provisions of the Code of Commercial Companies] In the unregulated scope of the Act, when the state bank is transformed into a bank in the form of a joint-stock company, the provisions of the Code of Commercial Companies Code of Conduct for the Acquisition Of Joint-stock Company, excluding art, shall apply in the form of a public limited company. 312 and art. 336.

Article 48. [ Application of the provisions of the Act on the commercialisation and privatization of state-owned enterprises] The relevant provisions of Chapters IV and V of the Act of 30 August 1996 apply to the sale of the shares of the bank resulting from the transformation of the State bank into the transfer of the shares of the bank of the State. o commercialisation and privatisation (Dz. U. of 2002. No. 171, item. 1397, with late. zm.).

Chapter 2a

Taking up and running the business by the national banks in the territory of the host State and by credit institutions on the territory of the Republic of Poland

Art. 48a. [ Department] The national bank may operate in the territory of the host State through a branch or within the framework of cross-border activities.

Art. 48b. [ Actions resulting from the authorisation] The national bank may exercise in the territory of the host State the activities resulting from the authorisation referred to in Article 1. 34 par. 1.

Article 48c. [ Notice] 1. The national bank, which intends to set up a branch in the territory of the host country, shall notify this in writing to the Financial Supervision Commission.

2. The notice referred to in paragraph 2. 1, it shall contain:

1) the name of the host country in the territory of which the bank intends to form a branch;

2) the name of the branch;

3) the address of the branch, under which it will be possible to obtain documents concerning its activities;

(4) a branch's programme of activities, specifying in particular the activities the bank intends to carry out through the branch, and a description of the branch structure;

5. the names of the persons to be included in the office of the director of the branch and his deputy.

3. The Polish Financial Supervision Authority may request the addition of the notice referred to in paragraph. 1, to the extent specified in paragraph. 2 points 2 to 5.

4. Within three months from the date of receipt of the notification referred to in paragraph 1. 1, or its completion, the Financial Supervision Commission shall send a notification to the competent supervisory authorities of the host State together with information on the amount of own funds and the amount of the solvency ratio of the bank which intends to establish a branch. The Commission shall inform the supervisory authority concerned of the notification of the notification to the competent supervisory authority.

Art. 48d. [ Refusal to submit information] 1. The Financial Supervision Commission refuses to send the notification referred to in Article. 48c ust. 1, where:

1) the requirements laid down in the Article are not fulfilled. 48c ust. 2;

2) the organisational structure of the bank or its financial position is inadequate for the intended activity;

(3) the intended activity would be in breach of the law;

(4) the intended activities could prove to be unfavourable to the prudent and stable management of the bank.

2. The Polish Financial Supervision Authority shall send a negative decision to the bank concerned within a period of three months from the date of receipt of the notification or the completion thereof.

3. The Polish Financial Supervision Authority shall inform the European Banking Authority of any issue of a refusal decision, giving the reasons for its issuance.

Art. 48e. [ Notification of intention to change] The intention to make a change to the extent indicated in the Article. 48c ust. 2 points 2 to 5 the national bank shall inform the Financial Supervision Commission and the competent supervisory authority of the host State, in writing, at the latest one month before the change is made. The provisions of Article 4 48c ust. 3 and 4 and Art. The 48d shall apply mutatis mutandis.

Art. 48f. [ Notice of intention to conduct cross-border activities] 1. The national bank, which intends to carry out cross-border activities, shall notify the Financial Supervision Commission thereof. The notification shall indicate, in each case, the activities resulting from the authorisation granted to the bank which the bank intends to carry out.

2. The Financial Supervision Commission shall send the notice referred to in paragraph. 1, the competent supervisory authority of the host State shall, within one month of receipt of it and inform the bank concerned thereof.

Art. 48g. [ Notification of a loss of consent] The Financial Supervision Commission shall immediately inform the competent supervisory authority of the host State of the loss by the national bank of its activities within its territory of the authorisation of its establishment.

Art. 48h. [ The conditions for performing the task] 1. The financial institution established in the territory of the Republic of Poland may perform in the territory of the host State the activities referred to in art. 5 par. 2 and Art. 6 para. 1 points 1 to 4, 6, 7 and 8, to the extent specified in the legislative act of its establishment, through a branch or within a cross-border activity, provided that:

1) is a subsidiary of at least one national bank subject to supervision on a consolidated basis;

2. subject to consolidated supervision;

3) actually carry out activities in the territory of the Republic of Poland;

4. the national bank or banks referred to in point 1 shall have the right to exercise at least 90% of the voting rights in the body of the financial institution concerned;

5. the national bank or banks referred to in point 1 shall comply with the own funds requirements, solvency ratio, concentration of exposures, liquidity and market risk as set out in the Act;

(6) the bank or the national banks referred to in point 1, after obtaining the approval of the Financial Supervision Commission, shall lodge a guarantee in which they shall accept jointly and severally liable for the commitments entered into by the financial institution in question.

2. The fulfilment of the conditions set out in the paragraph. 1 shall be reviewed by the Financial Supervision Commission.

2a. Where the financial institution complies with the conditions referred to in paragraph 2. 1, the Financial Supervision Authority shall issue to this financial institution a certificate that it meets those requirements.

3. The financial institution shall, in writing, inform the Financial Supervision Commission of its intention to create a branch or conduct a cross-border activity in the territory of the host country. The provisions of Article 4 48c ust. 2-4 and art. 48d-48f shall apply mutatis mutandis, with the following that the Financial Supervision Commission:

1. notifies the competent supervisory authority of the host State of the amount of own funds of the financial institution's subsidiary and of the amount of the consolidated solvency ratio of the parent bank or banks referred to in paragraph 1). 1 point 1;

(1a) shall accompany the notification of the certificate referred to in paragraph 1. 2a;

2. refuses to send a notification to the competent supervisory authority also where the financial institution does not fulfil the conditions referred to in paragraph 1. 1.

4. Where the financial institution ceases to comply with the conditions referred to in paragraph 1. 1, the Financial Supervision Authority shall inform the competent supervisory authority thereof. Upon notification, the activities carried out by that institution on the territory of the host country shall be subject to the legislation of the host State.

5. The Polish Financial Supervision Authority may, against the financial institution referred to in paragraph. 1, at the request of the competent supervisory authorities of the host State, to apply the measures laid down in the Article. 138 para. 3 points 1, 2 and 3a and in Article 141 or prohibit the activities in the host country.

Art. 48i. [ Credit Institution] A credit institution may operate on the territory of the Republic of Poland through a branch or within the framework of cross-border activities.

Art. 48j. [ Take Action] A credit institution may perform in the territory of the Republic of Poland the activities specified in Art. 5 par. 1 and 2 and Art. 6 para. 1 points 1 to 4 and 6 to 8 to the extent resulting from the authorisation granted by the competent supervisory authority of the home country.

Art. 48k. [ Activity of credit institutions] 1. The activities of credit institutions in the territory of the Republic of Poland shall apply the provisions of Polish law, subject to the paragraph. 2 and 3.

2. To branches of credit institutions the provisions of art. 1-11, art. 40a ust. 1, art. 49-70, art. 73-78a, art. 80-98, art. 101-112, art. 124, art. 124a, art. 133 (1) 2 points 1 and paragraph 2 3, art. 137, Art. 138 para. 1 point 1, paragraph 1. 2 and paragraph 3 points 1, 3 and 3a, art. 139 (1) 1 points 2 and 3, art. 141 and art. 171 (1) 4-7 shall apply mutatis mutandis.

3. In the field of monetary policy pursued by the National Bank of Poland, until the date of accession of the Republic of Poland to the Economic and Monetary Union, branches of credit institutions shall have the same rights and obligations as national banks and branches foreign banks.

Art. 48l. [ Branch of the credit institution] 1. The branch of a credit institution may, subject to the paragraph. 2, to start operations in the territory of the Republic of Poland at the earliest after the expiration of two months from the date of receipt by the Polish Financial Supervision Authority from the competent supervisory authorities of the home state of the following information:

1) the name and address of the branch within the territory of the Republic of Poland, under which it will be possible to obtain documents concerning its activities;

(2) a programme of activities specifying, in particular, the activities which a credit institution intends to carry out and a description of the organisation's organisational structure;

3. the names of persons to be included in the positions of the Director of the Branch and his Deputy

(4) the amount of the credit institution's own funds and the amount of the solvency ratio.

2. Within two months from the date of receipt of the information referred to in the paragraph. 1, the Financial Supervision Authority may indicate conditions which in the interest of the general good, in particular in order to protect consumer goods, ensure the safety of the economic market or to prevent infringements of the law, the branch of the credit institution must meet in conducting activities in the territory of the Republic of Poland.

3. The intention to make a change to the extent referred to in paragraph. The credit institution shall notify the Financial Supervision Authority at the latest within one month before the change is made. The amendments shall be binding on the date of receipt by the Commission of the Financial Supervision of the relevant notification from the competent supervisory authorities of the home country. The provisions of the paragraph 2 shall apply mutatis mutandis.

Article 48a. [ Cross-border activities of a credit institution] A credit institution may commence cross-border activities within the territory of the Republic of Poland after the Polish Financial Supervision Authority has received a notification from the competent supervisory authorities of the home state, which determines the types of activities, the institution intends to carry out.

Art. 48m. [ Activity reports] A branch of a credit institution operating in the territory of the Republic of Poland is obliged to transfer to the National Bank of Poland periodic reports of its activities in the scope and mode established on the basis of art. 23 (1) 3 and 4 of the Act of 29 August 1997. o National Bank Polski (Dz. U. of 2005 No. 1, pos. 2, with late. zm.).

Art. 48n. [ Financial Institutions] To financial institutions located in Member States which comply with the requirements laid down in Article 48h ust. 1, the provisions of art. 48l and 48th shall apply mutatis mutandis.

Art. 48o. [ Information on participation in the guarantee scheme] 1. A credit institution operating in the territory of the Republic of Poland shall inform, in the manner in which information about the services provided is served, the beneficiaries and interested in the use of its services at:

1. its economic and financial situation;

2) participation in the guarantee system and the rules of its functioning, including the subject of the subject matter and the protection of the subject of this system, indicating in particular:

(a) the amount of the maximum guarantee,

(b) the types of entities which may be considered eligible to receive a cash benefit.

2. A credit institution operating in the territory of the Republic of Poland shall be obliged to inform the beneficiary and the interested in the use of its services of the lack of guarantee protection in the case of:

1) the claim, arising in connection with the execution of banking activities, will not be protected by the guarantee system;

2) in connection with the performance of another activity, than the banking activity, the credit institution shall issue a roll-out document confirming its pecuniary obligation;

3. in relation to the services provided by the credit institution, in particular where agreements have been brokered, any claims by persons enjoying and interested in the use of the services may arise. to another entity which is not covered by the guarantee scheme.

3. The information referred to in paragraph. 1 point 2 and paragraph. Article 2 (1) and (2), should also be included in the contracts between the beneficiary and the beneficiary of their services and the credit institution.

(4) Information on the mode and conditions of receipt of the cash benefit should be made available at the request of the beneficiary and the use of the credit institution's services concerned.

5. Any information made available to the beneficiary and the beneficiary of the credit institution's services pursuant to the provisions of paragraph 5. 1-3, should be given in the following manner:

1) in which information about the services provided is given;

2) unambiguous and understandable.

6. Information on participation in the guarantee system shall not be used for advertising purposes and should be limited only to the information specified in the paragraph. 1 and 2.

7. The prohibition set out in paragraph. 6 shall also apply to entities which are not participants in the guarantee scheme.

Chapter 3

Bank accounts

Article 49. [ Types of bank accounts] (1) The following types of bank accounts may be carried out in particular:

1) clearing accounts, including current and auxiliary;

(2) the accounts of the fixings;

(3) savings accounts, savings and settlement accounts and the accounts of the savings deposits;

4. Trust accounts.

2. Accounting accounts and bills of fixation may be carried out only for:

1) legal persons;

2) organizational units without legal personality, provided they have legal capacity;

3) natural persons engaged in gainful activity for their own account, including for those who are entrepreneurs.

3. Austerity accounts, savings and settlement accounts and bills of time savings deposits may be carried out only for:

1) natural persons;

2) school savings banks;

3) employee cash-for-loan cash registers.

Article 50. [ Receipt of funds collected on account] 1. The bank account holder is freely available to cash collected on the account. The agreement with the bank may include provisions restricting the freedom to dispose of those measures.

2. The Bank shall pay particular diligence in ensuring the security of the cash held.

Article 51. [ Common Account] [ 4] A bank account may be carried out for several individuals, several local government units or parties of a cooperation agreement within the meaning of the Act of 9 June 2011. -Geological and Mining Law (Dz. U. of 2014 items 613, as amended)-common account.

Article 51a. [ Joint account of the natural persons] In the case of a joint account held for natural persons, unless otherwise provided by the bank account agreement:

1. each of the account-holders may have on their own funds the funds collected on the account;

2. each of the co-holders of the account may at any time terminate the contract with effect for the other co-holders.

Art. 51b. [ Account of joint self-government units] 1. The common account for local government units may be carried out only in connection with the joint exercise of public tasks, including the execution of projects co-financed by the European Union.

2. The agreement of the joint account held for the local government units should specify the purpose for which the account is conducted.

3. The rules of disposing of funds collected in the joint account kept for local government units and the principle of the termination of the agreement of that account shall be determined by the agreement of the bank account.

Art. 51c. [ The common account for the parties to the cooperation agreement] [ 5] 1. The common account for the parties of the cooperation agreement may be carried out only in connection with the execution of the cooperation agreement and the granted concession, as referred to in the Act of 9 June 2011. -Geological and Mining Law.

2. In the case of a joint account for the parties of the cooperation agreement:

1) the entitled to dispose of funds collected on the account is only a co-holder as an operator within the meaning of the Act of 9 June 2011. -Geological and Mining Law;

2. the account holder may request current information about the balance, periodic bank statements and the history of the account and sub-accounts.

Article 52. [ Bank Account Agreement] 1. The bank account agreement shall be concluded in writing.

2. The bank account agreement shall specify in particular:

1) the parties to the contract;

2) the type of account being opened;

3) the currency of the account;

4) the duration of the contract;

5) in so far as the parties reserve the interest rates on the funds collected on the account-the amount of that interest and the conditions for the admissibility of its change by the bank, as well as the time limits for the payment, putting at the disposal or capitalisation of the funds due interest;

6) the amount of commission and fees for the activities connected with the performance of the contract and the conditions and modus of their change by the bank;

7) the form and scope of the monetary settlements carried out on the order of the account holder and the deadlines for their implementation;

8) the conditions and mode of making changes to the contract;

9) the rationale and mode of termination of the bank account agreement;

10) the extent of the bank's liability for the timely and correct execution of the cash settlements and the amount of compensation for the overrun of the due date of the account

3. The calculation of the interest due on the cash collected in the account shall be accepted that the year counts 365 days, unless otherwise provided by the contract.

4. In the case of a bank account agreement fulfilling the function of the payment account referred to in art. 2 item 25 of the Act of 19 August 2011. on payment services, the provisions of paragraph 1. 1 and 2 shall not apply.

Article 53. [ Document confirming conclusion of the contract] 1. The Bank may issue a savings account to the savings account holder and the holder of the savings account with a savings account or other immigrant document confirming the conclusion of the contract. Use the word "austerity" in the name of the document.

2. The issue of the document referred to in the paragraph. 1, exempts the bank from the obligation to send the holder of the bank account of the extracts from that account.

3. In the case of the loss of the document referred to in the paragraph. 1, shall be subject to remission.

4. The Minister of Justice, after consulting the Polish Financial Supervision Authority, shall determine, by means of a regulation, the detailed conditions and the mode of surrender of the documents referred to in the paragraph. 1, taking into account the nature of these documents and the legitimate interests of account holders.

Article 54. [ Cash] 1. Cash on savings accounts, savings and settlement accounts and in the accounts of the savings deposits of one person, irrespective of the number of contracts concluded, shall be free from seizure on the basis of a judicial or administrative enforcement title up to three times the average monthly remuneration in the enterprise sector, without payment of the profit prizes, announced by the President of the Central Statistical Office for the period directly before the date of issue of the enforcentary title.

2. Cash collected in a savings account, a savings account and an account of a savings account held for several natural persons shall be free from seizure to the amount specified in the paragraph. 1, irrespective of the number of co-holders of such an account.

Article 55. [ Death of the savings account holder] 1. In the event of the death of the savings account holder, the savings and settlement account or the settlement of the savings deposit, the bank shall be obliged to withdraw from these accounts:

1) the amount spent on the costs of the burial of the account holder to the person who submitted the accounts stating the amount of the costs incurred by the account holder, not exceeding the costs of the funeral equipment in accordance with the customs rules adopted in the the environment;

(2) an amount equal to the payment of the accounts by the paying authority of the insurance or social security or salary in a state of resting which did not have a period after the death of the account holder, as indicated in the request from the body the payment of that benefit or salary, to the bank, together with the account numbers for which the payment is made.

2. The amount paid in accordance with the paragraph. 1 point 1 shall not enter into the inheritance after the account holder.

3. The Bank shall be exempt from the payment of the full or partial amount referred to in paragraph 3. 1 point 2 if, prior to the receipt of a request from the paying authority, the payment or salary has been made from those accounts to other eligible persons, which do not permit the application to be carried out in whole or in part, and within 30 days from the date of the receipt of the application, the receipt of the request shall inform the competent authority thereof, together with an indication of the persons who have received the payment.

4. The Bank shall not be liable for any damages resulting from the performance of the activities referred to in paragraph. 1 point 2 and paragraph. 3. The responsibility in this respect shall be borne by the paying authority of the certificate or the salary which applied for the application.

Article 56. [ Disposition of death in case of death] 1. The holder of a savings account, a savings and settlement account or a settlement account may instruct the bank to make a payment from the account indicated by the person after his death: the spouse, initial, descending or siblings of a certain amount of money (disposition of contribution in case of death).

2. The amount of the payment referred to in paragraph 2. 1, regardless of the number of dispatchable dispatchings, may not be higher than the twenty-fold average monthly salary in the enterprise sector without payment of the profit prizes, announced by the President of the Central Statistical Office for the last month before the account holder's death.

3. The deposition in the event of death may be changed or cancelled in writing at any time by the account holder.

4. If the account holder has issued more than one dispatch in the event of death, and the total sum of the dispatch exceeds the limit referred to in paragraph. 2, the disposition issued later takes precedence over the disposition issued beforehand.

5. The amount paid in accordance with the paragraph. 1 shall not enter into inheritance after the account holder.

6. The persons who at the disposal of the contribution in the event of death have been paid the amounts in violation of the paragraph. 4, they shall be obliged to return them to the heirs of the holder.

Article 57. [ Exemption of application of the law] The provisions of Article 4 55 par. 1 and Art. 56 par. 1 shall not apply to the account referred to in Article 51.

Article 58. [ Minor bank account holder] A minor holder of a savings account, a savings and settlement account or a settlement account may, after the age of thirteen years, freely dispose of the cash collected on those accounts, provided that the account is not does not object to that in writing by its statutory representative.

Article 59. [ Trust account] 1. Only the funds entrusted to the account holder may be collected in the escrow account, on the basis of a separate agreement, by a third party.

2. The parties to the agreement of the escrow account shall be the bank and the account holder (trustee).

3. The contract referred to in paragraph 3. 2, lays down the conditions to be met in order for the funds of third parties to be paid into the account to be paid to the account holder or that his/her disposition in respect of the use of such funds may be carried out.

4. In the event of enforcement proceedings against the holder of the escrow account, the funds on the account shall not be subject to seizure.

5. In the event of a declaration of bankruptcy of the holding account holder, the cash on this account shall be excluded from the mass of bankruptcy.

6. In the event of the death of the account holder of the escrow account collected on this account the amount shall not enter into the inheritance after the account holder.

7. The provisions of the paragraph. 3-6 shall apply where the payment of cash has been carried out in the performance of the contract referred to in paragraph 1. 1, with a certain date.

Article 60. [ Termination of the bank account agreement] If the bank account agreement does not provide otherwise, it will be terminated when no turnover has been made in the course of two years, other than the addition of interest, and the cash balance on that account does not exceed the minimum amount specified in the of this Agreement.

Article 61. [ Loss of proof of conclusion of the contract] 1. In the event of notification to the bank of the loss of proof of an agreement of the savings account, check or a blank check, the account holder shall not charge cash withdrawals, as well as transfers made on the basis of these documents in the bank account savings from the date of receipt of the notification by the bank.

2. In cases other than those referred to in paragraph. 1 rules to charge the account holder for cash withdrawals made by the bank after the holder of the account has lost the documents referred to in paragraph. 1, specifies the bank account agreement.

Article 62. [ Death of lost documents] The death of the lost documents of the savings account agreement, the savings and settlement account or the settlement of the savings account in the course of the execution of the judicial or administrative enforcement from the savings account, the Savings/Settlement Account or the Savings Deposits account shall be governed by the provisions of the Act of 17 November 1964. -Code of Civil Procedure (Dz. U. Nr 43, pos. 296, of late. zm.) and the law on enforcement proceedings in the administration.

Chapter 4

Cash settlements executed through banks

Article 63. [ Conditions for the conduct of bank accounts] 1. Cash deductions may be carried out through banks if at least one of the clearing parties (debtor or creditor) holds a bank account. Cash settlements shall be carried out in cash or cashless using paper or IT data media.

2. Cash deductions shall be carried out by cash cheques or by cash payment to the account of the creditor.

3. The non-cash settlement shall be carried out in particular:

1) by order of transfer;

2) the payment order;

(3) a settlement check;

4) the payment card.

Article 63a. (repealed).

Article 63b. [ Cash Check] 1. The cash chek shall be the dispatch of the exhibition of the cheque, given to the traitor, to the amount of his account, to which the check has been issued, and to the payment of that amount to the bearer of the check or to the person indicated on the check.

2. Cash chek may be submitted for payment directly at the trasata or in another bank. Payment of the cash check submitted for payment in another bank shall be effected, subject to the paragraph. 3, once the bank has obtained from the trasata sufficient funds to pay the check. The detailed conditions for the presentation of a cash check to be paid at another bank shall be determined by the agreement between that bank and the check holder.

3. The banks may conclude agreements in which, on the basis of reciprocity, they will determine a different one from the one in the mouth. 2 mode of presentation of cash cheques to be paid from the savings and settlement accounts.

Article 63c. [ Transfer Command] The transfer order shall be provided to the bank by the debtor's disposal of the debtor's debit position as determined by the amount and the crediting of that amount to the creditor's account. The bank shall execute the debtor's disposition in the manner prescribed by the bank account agreement.

Art. 63d. [ Direct Debit] 1. The payment order shall be given to the bank of the disposition of the creditor of the burden determined by the amount of the bank account of the debtor and the crediting of that amount to the creditor's account. The creditor's disposition means, at the same time, his agreement on the bank's withdrawal of the debtor's account and the withdrawal of the creditor's account in the event of the debtor's cancellation of the direct debit referred to in paragraph 1. 6.

2. The settlement of the settlement of the payment shall be admissible on condition:

1) the holding by the creditor and debtor of the accounts in the banks which concluded the agreement on the application of the direct debit, specifying in particular: the scope of liability of the banks executing the payment order, the reasons for refusal of execution orders for payment by the debtor bank, procedures for investigation of banks ' mutual claims, arising from the effects of cancellation of the order of payment by the debtor, designs of uniform forms and rules for execution by the banks of direct debits by means of IT data media;

2) to grant by the debtor to the creditor the consent to charge the debtor's account by means of direct debit in the contractual dates of payment for the specified obligations;

3) the conclusion between the creditor and the bank conducting its account of the agreement on the application of the payment order by the creditor, containing in particular: the bank's consent to the use of the order for payment by the creditor, the rules for the submission and the execution of direct debits, the agreement of the creditor to the debit of his account, the amounts of the direct debits and the interest referred to in paragraph 1. 7, returned to the debtor in connection with the cancellation of the direct debit and the liability of the creditor and the bank;

4) that the maximum amount of a single direct debit does not exceed the equivalent, converted into gold at the average rate announced by the National Bank of Poland on the last day of the quarter preceding the quarter in which the settlement is made cash:

(a) EUR 1000-where the debtor is a natural person who does not carry out an economic activity,

(b) 50 000 euro in the case of other debtors.

3. The Bank, which has given the creditor the consent to the application of direct debits, shall be given to the banks-the parties to the agreement referred to in paragraph. 2 point 1, responsible for the actions of the creditor associated with the application of direct debits, shall in particular be obliged to immediately acknowledge the amount of the cancelled order of payment of the debtor's bank account with the interest referred to in the paragraph. 7, also in the absence of funds in the account of the creditor or the occurrence of another reason preventing the debit of the bank account of the creditor.

4. Recognition of the creditor's bank account follows the receipt by its bank from the debtor bank of the funds sufficient to cover the payment order.

5. The debtor shall have the right to withdraw at any time the consent referred to in the paragraph. 2 point 2.

6. The debtor may cancel a single direct debit, at the bank carrying out his account, within the time limit:

1) 30 calendar days from the date on which the bank account is debited, where the debtor is a natural person who does not perform business activity;

2) 5 working days from the date on which the bank account is debied, in the case of other debtors.

7. The cancellation of the order of payment by the debtor obliges the debtor bank to immediately credit the debtor's bank account with the amount of the cancelled order of payment. Recognition of the account of the debtor shall take place on the date of lodging the cancellation of the order of payment, with the obligation to charge, from the date on which the debtor's account was debited, the amount of the payment order cancelled-the interest payable to the debtor in the bank

8. The creditor bank may carry out the settlement of the payment order under the conditions stipulated in the law, with the following:

(1) the provisions of paragraph 1 shall not apply to those accounts. 2 points 3 and 3 3;

2) that bank shall be obliged to immediately credit the amount of the cancelled order to pay the bank account of the debtor.

9. Provisions of the paragraph. 1-8 does not apply to direct debit transactions, to which the Act of 19 August 2011 applies. on payment services.

Art. 63e. [ Settlement check] 1. The clearing member shall be the dispatch of the exhibition of the check, given to the traitor, to the debiting of his account with the amount for which the check was issued, and the crediting of that amount to the account of the check-holder.

2. At the request of the issuer of the check, the bank can confirm the settlement check, booking at the same time on the account of the exhibitor the appropriate fund to cover the check. The bank can also confirm the incomplete check.

3. The clearing member may be submitted for settlement with the effects of payment directly at the trasata or in the bank in which the keeper of the check has an account. Recognition of the account holder's cheque, subject to paragraph. 4, following the receipt by the bank of the holder of the check from the trasata of the funds sufficient to pay the check. The detailed conditions for the presentation of the check for the settlement with the effects of payment in a bank other than the trasata shall determine the contract between that bank and the check holder.

4. Banks may conclude agreements in which, on the basis of reciprocity, they will determine a different one from the one in the mouth. 3 mode of presentation of settlement cheques to be paid from the savings and settlement accounts.

Article 63f. [ Payment Card Payment] 1. Under the terms specified in the agreements, the parties may also use payment cards in non-cash accounts.

2. The rights and obligations of the publisher and the holder of the payment card shall be determined by a separate law.

Article 63g. (repealed).

Art. 63h. [ Delegation] The Minister responsible for financial institutions may determine, by way of regulation, after consulting the President of the National Bank of Poland, the template form of the credit transfer/cash payment used in the cash settlement carried out through the bank.

Article 64. [ Solidarna liability banks for damages caused by non-execution or improper execution of the command] 1. If the order to carry out the cash settlement submitted by the holder of the bank account is exercised by several banks, each of these banks shall bear together with the other joint and several liability to the account holder for the damage caused by non-execution or non-execution of the command.

2. The provision of the paragraph. 1 shall not apply to payment services governed by the Act of 19 August 2011. on payment services.

Article 65. [ Checking the data on account payroll] The bank making a payment from the bank account shall be obliged to check the authenticity and the correctness of the formal document constituting the basis for the payment and the identity of the person giving the order.

Article 66. [ Acceptance of cash receipts] Banks are required to accept cash deposits on bank accounts and to convert and sort banknotes and coins from these payments.

Article 67. [ Clearing House] Banks together with banking chambers may form clearing houses in the form of commercial companies for the exchange of payment orders and for the determination of the reciprocal claims arising from these orders. In order to secure the settlement of the settlement, the Chamber may create a guarantee fund from the banks; the funds of this fund shall not be executed from the assets of the bank.

Art. 67a. [ Cash collected in the clearing account] Cash collected in the bank's clearing account within the meaning of the Act of 24 August 2001. the finality of settlement in payment systems and securities settlement systems and the rules for the supervision of these systems (Dz. U. of 2010 No. 112, item. 743, with late. zm.) are free from seizure on the basis of a judicial or administrative enforcement title to the amount necessary to perform the duties, resulting from the participation of the bank in the payment system or the securities settlement system, arising before the time of the seizure.

Article 68. [ Delegation] The President of the National Bank of Poland shall determine, by order:

1) how to conduct interbank accounts, including through the use of IT data media;

2. the manner and mode of conversion, sorting, packaging and marking of packages of banknotes and coins and the carrying out of the operations of supplying the banks with these marks;

3) way of numbering the banks and their organizational units;

4) method of numbering of bank accounts held in banks.

Chapter 5

Loans and rules of concentration of exposures

Article 69. [ Loan Agreement] 1. By the loan agreement, the bank undertakes to give at the disposal of the borrower for the time marked in the contract the amount of cash for the set purpose, and the borrower undertakes to use it under the terms specified in the contract, the reimbursement of the amount of the credit used, including interest on the maturities, and the payment of the commission on the loan.

2. The loan agreement shall be concluded in writing and shall specify in particular:

1) the parties to the contract;

2) the amount and currency of the loan;

3) the purpose for which the loan was granted;

4) the terms and conditions for repayment of the loan;

4a) [ 6] in the case of a credit agreement denominated or indexed to a currency other than Polish currency, the detailed rules for determining the modalities and timing of the fixing of the exchange rate on the basis of which the amount of the credit is calculated in particular, and its transcriptions and capital-interest payments and conversions on the currency of payment or repayment of the loan;

5) the interest rate of the loan and the conditions for its change;

6) way of securing the repayment of the loan;

7) the scope of the bank's powers of control of the use and repayment of the loan;

8) the terms and means of putting at the disposal of the borrower of cash;

(9) the amount of the commission, if the contract provides for it;

10) the conditions for making changes and termination of the contract.

3. In the case of a credit agreement denominated or indexed to a currency other than the Polish currency, the borrower may make the repayment of the capital-interest instalments and make the early repayment of the full or partial amount of credit directly in that currency. In this case, the credit agreement shall also specify the rules for the opening and operation of the account used to collect the funds earmarked for the repayment of the credit and the rules for repayment through that account.

Article 70. [ Creditworthiness] 1. The Bank makes the granting of credit to the creditworthiness of the borrower. The creditworthiness shall be understood to mean the ability to repay the borrowed credit plus interest within the time limits specified in the contract. The borrower shall be required to submit, at the request of the bank, the documents and information necessary for the assessment of that capacity.

2. A physical, legal or organizational unit without legal personality, provided that it has a legal capacity which is not creditworthiness, the bank may grant the loan provided:

1) the establishment of a specific way of securing repayment of the loan

2) the presentation, irrespective of the security of the repayment of the loan of the operator of the entity, the execution of which will, according to the assessment of the bank, obtain the creditworthiness within

3. The borrower is obliged to enable the bank to undertake activities related to the assessment of the financial and economic situation and the control of the use and repayment of the loan.

4. Paragraph Recipe 2 shall apply mutatis mutandis to the granting of credit to a newly created entrepreneur, a legal person or an organisational unit without legal personality, provided that it has legal capacity.

5. At the request of the applicant for credit, the bank shall provide, in writing, an explanation of the creditworthiness assessment made by itself. The fee for the preparation of such an explanation should be appropriate to the level of the loan.

6. Paragraph Recipe 5 shall apply mutatis mutandis to an entrepreneur applying for a cash loan.

Article 71. [ Concentration of exposures] 1. The sum of the bank's claims, issued by the bank of off-balance-sheet liabilities and held by the bank directly or indirectly in shares in another entity, the transferred payments in the limited liability company or the contributions, or comandite sum-whichever is the greater-in a limited partnership or a limited joint-stock company (involvement), the risk of a single entity or its associated capital or organisation may not exceed the amount of the amount of the limit the concentration of exposures, which amounts to 25% of the bank's own funds.

1a. The involvement of a bank vis-vis another national bank, a credit institution, a foreign bank or a group of entities related to capital or business, consisting of at least one national bank, a credit institution or a bank foreign, may not exceed 25% of the bank's own funds or the equivalent of 150 million euro, calculated in gold by the average rate announced by the National Bank of Poland, applicable on the last reporting date, depending on which of these values is higher, and the sum of the exposures to all associated entities belonging to that group, which are not a national bank, a credit institution or a foreign bank, may not exceed 25% of the bank's own funds.

1b. If the amount of 150 million euro referred to in paragraph 1 1a, which exceeds 25% of the bank's own funds, the value of the involvement may not exceed the limit specified by the bank in relation to the bank's own funds.

1c. The Management Board of the Bank shall, at least once a year, determine the amount of the limit referred to in paragraph. 1b, and informs the Financial Supervision Commission of its amount. This limit shall not exceed 100% of the bank's own funds.

2. (repealed).

3. The provisions of the paragraph. 1-1c does not apply to exposures identified by the Financial Supervision Commission that do not jeopardise the safe conduct of banking activities and the proper management of risk in the bank.

4. The Polish Financial Supervision Authority will determine, by way of resolution, detailed rules and conditions for the inclusion of exposures, taking into account the techniques of credit risk mitigation applied by banks with the approval of the Financial Supervision Authority to reduce risk the credit associated with those exposures in determining the respect of the limits referred to in paragraph 1. 1-1c.

5. The Polish Financial Supervision Authority will determine, by way of a resolution, the commitment referred to in paragraph. 3, the conditions that they must meet and the exposures to which it is required to obtain the approval of the Financial Supervision Commission for the non-application of the provisions of paragraph 1. 1-1c, in order to reflect the need to reflect the actual workload of the bank's own funds risk arising from the concentration of exposures.

6. The Management Board of the Bank shall immediately report to the Financial Supervision Commission each time the limit specified in the paragraph is reached or exceeded. 1-1c. The Financial Supervision Commission may set a deadline for adjusting the bank's activities to this limit. Where the amount of 150 million euro referred to in paragraph is applicable. 1a, the Financial Supervision Commission may allow the limit referred to in paragraph 2 to be exceeded. 1b, above 100% of the bank's own funds.

7. Banks shall, subject to the limits set out in the Act, determine and verify the internal limits of exposures according to criteria which take into account the specificity of their activities.

8. The Polish Financial Supervision Authority will determine, by way of a resolution, the requirements for the identification, monitoring and control of the concentration of exposures, including large exposures.

Article 72. (repealed).

Article 73. [ Banking Consortium] 1. Banks to jointly grant credit may conclude an agreement for the creation of a banking consortium.

2. In the contract referred to in paragraph. 1, the banks shall set the conditions for the granting of the credit and the security of the loan and shall designate the bank empowered to conclude the loan agreement.

3. The Banks referred to in paragraph. 1, bear the risk associated with the loan in proportion to the amount of the financial resources transferred to the jointly granted credit.

Article 74. [ Information Obligations of borrower] During the term of the loan agreement the borrower is required to present, at the request of the bank, the information and documents necessary for the assessment of his financial and economic situation and enabling the control of the use and repayment of the loan.

Article 75. [ Non-compliance with credit conditions] 1. In the event of the borrower's failure to grant credit conditions or in the event of the creditworthiness of the borrower, the bank may reduce the amount of credit granted or terminate the loan agreement.

2. The period of notice referred to in paragraph 2. 1, unless the parties specify a longer term in the contract, is 30 days, and in the event of a threat of bankruptcy of the borrower-7 days.

3. The termination of the loan agreement due to the loss of the creditworthiness of the borrower or the threat of its bankruptcy shall not occur if the bank has agreed to the realization by the borrower of the remedial program.

4. Paragraph Recipe 3 shall apply throughout the period of implementation of the recovery programme, unless the bank determines that the recovery programme is not properly implemented.

Article 75a. [ Term of repayment of credit] 1. Unless otherwise provided by the loan agreement, the repayment date of the loan shall be a reserved term for the benefit of both parties.

2. In the event that the parties have agreed the deadline for repayment of the credit longer than a year, the borrower may terminate the contract with the maintenance of the three-month deadline.

Article 75b. [ Restrictions on the bank with regard to the running of the account to repay the loan in a currency other than the Polish currency] 1. [ 7] Exercise of the power referred to in Article 69 par. 3, may not involve the additional costs incurred by the borrower.

2. The Bank shall not make the execution of the power referred to in the Article by the borrower. 69 par. 3, from the introduction of additional restrictions, in particular it may not oblige the borrower to acquire the currency earmarked for repayment of the instalment of the loan, its entirety or part, from the specified entity.

3. Opening and running of the account referred to in art. 69 par. 3, it is free of charge in case the borrower is a consumer within the meaning of the Act of 23 April 1964. -Civil Code.

4. The provisions of the paragraph. 1-3, art. 69 par. 2 points 4a and paragraph 1 3 shall apply mutatis mutandis to cash loan contracts.

Article 76. [ Credits of loans] The borrowing rules shall specify the loan agreement, except where the variable rate is applied:

1) specify in the credit agreement the conditions for changing the interest rate of the loan;

2) notify in the manner specified in the contract the borrower, the guarantor and, if the contract does not provide otherwise, other persons who are debtors of the bank for the security of the loan of any change of the interest rate of its interest.

Article 76a. [ Notification of debtors] The bank is obliged to notify immediately, in the manner specified in the contract, the persons who are debtors of the bank in respect of the credit protection, if the borrower is delayed with its repayment.

Article 77. [ The bank's commission for untapped credit] The loan agreement may stipulate that a separate commission is eligible for a loan at the disposal of the borrower and untapped by the borrower.

Art. 77a. [ Credit request to a third party] The Bank may accept a request for credit to a third party. The order should be submitted in written form under the action of invalidity. In such a case, if the contract does not provide otherwise, the giving of the contract shall be the guarantor for the future debt.

Article 78. [ Loan Agreement] The provisions relating to the security of repayment and the interest rate of the loan shall be applied to the cash loan agreements entered into by the bank.

Art. 78a. [ Consumer Credit Agreement] The provisions of the Act apply to credit agreements and monetary loans, concluded by the bank in accordance with the provisions of the Act of 12 May 2011. about a consumer credit, in an unregulated range in that law.

Article 79. [ Prohibition of Privileges of Related Entities] 1. The Bank shall not apply more favourable conditions and, in particular, more favourable interest rates than those applied by the bank for a given type of contract in the conduct of bank accounts and for the granting of loans, cash loans, bank guarantees, guarantees:

1) to the parent or subsidiary of the bank;

2. entities operating in the same holding as a holding bank;

3) subsidiaries and affiliated entities with a bank within the meaning of the Act of 29 September 1994. of accounting;

4. to its shareholders or members;

5) persons employed in the bank, members of the management board and members of the supervisory board;

6) persons employed in the parent undertaking, members of the management board and members of the supervisory board of the parent undertaking;

7. to entities associated with the capital or organization of:

(a) a shareholder and a member,

(b) a member of the management board, the supervisory board or a person holding a management position in the bank.

2. The Bank shall determine, in the form of the Rules of Procedure, the conditions for the granting of loans, cash loans, bank guarantees and guarantees referred to in paragraph 2. 1, and carry out their separate records.

Article 79a. [ Provision of credit] 1. The sharing of credit, money borrowing, bank guarantee or surety of a member of the management board or supervisory board of the bank or the person holding the management position in the bank shall be followed in accordance with the rules of procedure adopted by the supervisory board.

2. Separation of credit, money loan, bank guarantee or surety of the member of the management board or a member of the supervisory board of the bank in the amount of the total liability exceeding 10 000 euro, calculated in gold at the average rate announced by the The National Bank of Poland on the day of granting of credit, money loan, bank guarantee or surety, requires the consent expressed in the resolution of the Board and the resolution of the supervisory board of the bank. These resolutions shall be held without the participation of the person concerned, by secret ballot, by a majority of at least 2/3 of the votes in the presence of at least half of the composition of the body.

3. The provisions of the paragraph. 1 and 2 shall apply mutatis mutandis to the granting of a loan, a monetary loan, a bank guarantee or a surety to an affiliated entity or an organisation with a member of the management board or of the supervisory board or a person holding a management position in the bank.

4. The sum of loans, cash loans, bank guarantees and sureties referred to in paragraph. 1 and 3, shall not exceed:

1) in the bank in the form of a joint-stock company and in the state bank-10% of the sum of basic funds,

2) at the cooperative bank-25% of the sum of basic funds

-their value shall be determined in accordance with the rules laid down on the basis of Article 3. 71 (1) 4.

5. By the person occupying a managerial position in the bank shall be understood to be the person employed directly to the member of the management board, the director of the branch and his deputy and the chief accountant.

Article 79b. [ Notification] 1. The Bank shall notify the Financial Supervision Authority of the fact of granting a credit, a monetary loan, a bank guarantee or a guarantee to a member of the management or supervisory board, a person holding a managerial position in the bank, a shareholder of the bank and a member of the cooperative bank and the entity associated with them capital or organisational, if in a single case the value of the obligation exceeds the equivalent of 30 000 euro, calculated in zlotys at the average rate announced by the National Bank Polish on the day of granting a loan, a monetary loan, a bank guarantee or surety.

2. Paragraph Recipe 1 shall not apply to a shareholder holding only shares admitted to trading on a regulated market in a quantity entitling to perform no more than 5% of the votes at the general meeting.

Article 79c. [ Off-balance-sheet liabilities] The provisions of Article 4 79a and 79b also apply to other than bank guarantees and off-balance-sheet guarantees provided to the persons referred to in Article 79b. 79 par. 1, or at their request.

Chapter 6

Bank guarantees, sureties and letters of credit

Article 80. [ Provision of guarantees and guarantees] Banks may award and confirm bank guarantees, guarantees, and open and confirm letters of credit for the request.

Article 81. [ Bank Guarantee] 1. The bank guarantee is a unilateral obligation of the bank-guarantor that once the entity has fulfilled the entitled (guarantee beneficiary) specified conditions of payment, which may be identified as specified in this provision of documents, which the beneficiary annexes to the payment claim drawn up in the form indicated, the bank will carry out a cash benefit to the beneficiary of the guarantee either directly or indirectly through another bank.

2. The division and confirmation of the bank guarantee shall be made in writing under the rigorousness of invalidity.

Article 82. [ Transfer of receivables from bank guarantee] The transfer of receivables from the bank guarantee can be made with the transfer of the claim secured by the guarantee.

Article 83. [ Confirmation of the bank's obligation under the guarantee] 1. The bank can confirm the obligation of another bank resulting from the bank guarantee; in the case of this claim from the guarantee it may be directed to the bank which granted it, or to the bank which confirmed it, or to both of these banks together, up to the full satisfy the claims of the creditor.

2. The provisions of the paragraph. 1 shall apply mutatis mutandis in the confirmation by the bank of the liabilities arising from the surety granted by another bank.

Article 84. [ Application of provisions of K. c.] The provisions of the Civil Code are applied to bank guarantees and guarantees provided by the bank, with the fact that the bank's obligation is always a cash obligation.

Article 85. [ Documentary or hedging accreditation] 1. The Bank, acting on behalf of the client, but on its own behalf (the bank opening the accreditation), may undertake in writing to a third party (beneficiary) that it will pay the beneficiary's credit to an agreed amount of money, once fulfilled by the the beneficiary of all conditions laid down in the letter of credit (documentary credit).

2. The documentary credit must contain, in particular, the name and address of the payer and the beneficiary, the amount and the currency of the letter of credit, the term of validity of the letters of credit and the description of the documents, upon which the presentation of the beneficiary is entitled to demand payment in Letter of credit.

3. The opening of the opening bank shall become due once the beneficiary has submitted the documents in accordance with the conditions of the accreditation.

4. The provisions of the paragraph. 1-3 shall apply mutatis mutandis to security accreditations.

Article 86. [ Monetary Accreditations] 1. The Bank, acting on behalf of a client, but on its own behalf (opening bank), may undertake in writing to another bank that it will reimburse the amounts paid to the beneficiary or will focus the bills drawn by the beneficiary on the indicated bank (monetary accreditations).

2. The monetary credit shall in particular include: the name and address of the person empowered to make the payments, the amount and the currency of the letter of credit and the term of validity of the credit.

3. The obligations of the opening bank shall become due on payment to the beneficiary under the rules laid down in the letter of credit, provided that the beneficiary is provided with an identity document.

4. Where the payment of the payment by the beneficiary of the conditions other than those referred to in the paragraph is subject to payment by the beneficiary. 3, the payment may take place only after the fulfilment of these conditions is combined.

Art. 86a. [ Application of provisions of the Act] The provisions of Article 4 82-86 shall apply if the parties to the contract do not agree otherwise.

Article 87. [ Limitation of claims on bank guarantee] (1) Claims on bank guarantees, guarantees provided by banks and letters of credit which have become chartered shall be expired on the expiry of the period of six years.

2. The statute of limitations on claims for guarantees and letters of credit shall start from the date of submission of an effective demand for payment and during this period the claim shall be due, even if the obligation with which the guarantee or letter of credit has been bound has already expired.

Article 88. (repealed).

Chapter 7

Securities issued by securities

Article 89. [ Issuing of bank securities] 1. Banks may issue bank securities on terms and conditions to be made public.

2. The Bank shall inform the Financial Supervision Commission of the intended programme of issuance of securities at 30 days before the issue date, indicating the conditions and value of the emission programme.

3. (repealed).

Article 90. [ Banking value paper] 1. A bank-based security shall be used for the collection by banks of cash in gold or other convertible currency, and shall include in the name "bank security", and its content shall include:

1) the nominal value;

2. commitment of the bank to:

(a) the calculation of the interest rate at a fixed interest rate,

(b) make the payment of the amount determined to the person entitled, within the time limits specified; the person entitled may not require the bank to redeemit the paper before the expiry of the time limit, unless the content of the paper provides otherwise;

3) the designation of the holder of the security, if it is a roll-roll paper, or the annotation that it is a security-bearer-value paper;

4) rules of transfer of rights resulting from the security;

5) the number of the security and the date of issue;

6) signatures of persons authorized to make representations in terms of the rights and obligations of the bank's assets.

2. The signatures referred to in paragraph. 1 point 6, can be played mechanically.

3. In the banking content of a security, as well as in the issuer specified by the issuer information about the terms of issue, no comparison with the terms of issue of securities of other issuers may be included.

4. Banks may issue bank securities, without the form of a document, which are registered in a deposit conducted by a bank issuing those securities, the National Depository for Securities S.A., a company whose National Depository for Securities Valuable S.A. has delegated tasks in the field of tasks referred to in art. 48 (1) 1 point 1 of the Act of 29 July 2005. the trading of financial instruments, or investment firm.

5. If the bank security is not in the form of a document, all the data referred to in the paragraph shall be provided. 1 shall be included in the contents of the certificate of deposit or of another document issued by the bank to the person entitled.

6. The rights of bank securities which are not in the form of a document shall arise from the moment when they are credited to the account of the bank for the first time and shall be entitled to the holder of that account.

7. Transfer of the rights from the bank of a security issued without the form of the document shall take place upon completion of the relevant record on the bank account of the securities as a result of the conclusion of the agreement. If the contract provides otherwise, the bank securities obtained before the recording is made.

8. Banking securities in a dematerialised form may also be registered, on the basis of a contract concluded by a bank with the National Depository for Securities S.A. or a company whose National Depository for Securities S.A. has transferred performing tasks in the field of tasks referred to in art. 48 (1) 1 point 1 of the Act of 29 July 2005. on the trading of financial instruments, in the deposit of securities conducted in accordance with the provisions of that Act. In such a case, the provisions of that law relating to the rights of dematerialised securities shall apply to the formation and transfer of rights from banking securities.

Article 91. [ Prohibition of financing of the purchase of bank securities] The bank may not grant credit or a loan to the bank for the purchase of bank securities issued by itself.

Article 92. [ Banking securities] The provisions of the Act referred to in Article shall not apply to the banking securities. 4 par. 1 point 8.

Chapter 8

Specific obligations and powers of banks

Art. 92a. [ Obligations and powers of the bank] 1. The Bank may conclude with the company of investment funds creating a securitisation fund or a securitisation fund:

1) the credit transfer agreement;

2) a sub-participation agreement.

2. The contract referred to in paragraph 2. Article 1 (2), may not increase the risk of insolvency or deterioration of the bank's liquidity.

3. The Bank may also transfer, by means of a contract of debt, to, other than the investment fund, a securitisation fund or a securitisation fund, a capital company (an issue) for the purpose of issuing a securitisation loans securitised by collateral.

4. The issuing entity for which the transfer took place must not be bound by capital or organisational with the bank transferring the claims and the subject matter of its business may be exclusively the acquisition of receivables and the issue of the issuance of the debt. of the securities referred to in paragraph 1. 3, as well as to carry out the tasks associated with it.

5. (repealed).

6. (repealed).

Art. 92b. [ Register of claims] 1. The Bank shall maintain a register of receivables, listed in the contract referred to in art. 92a ust. 1 point 2.

2. The claims referred to in paragraph 2. 1, shall be subject to the entry in the register from the moment when the obligation resulting from the agreement referred to in Article 92a ust. 1 point 2, it has been effective.

3. The Polish Financial Supervision Authority shall determine, by way of a resolution, the conditions for keeping the register referred to in paragraph. 1.

Art. 92c. (repealed).

Art. 92d. [ Bank Claim] The Bank may conclude a contract with a credit derivative or a contract other than those referred to in Article 4. 92a ust. 1 and 3, on the basis of which the transfer of all or part of the risk associated with the claims of that bank is transferred.

Article 93. [ Securing and deducting claims] 1. In order to secure the claims which arise from the banking activities, the bank may request the security provided for in the Civil Code and the Law of the Weeks and the customs adopted on domestic and foreign trade.

2. The Bank may deduct from its debt a claim whose due date has not yet come if the debtor entity has been put into liquidation, and in all of those cases where it serves the bank the right to pull its own claims before the date of payment. The deduction may not be made to the extent that the claim from the bank account has been claimed as the subject of the enforcement of the tax liability receivable.

Art. 93a. [ Consolidated Interest Rate] 1. In a contract concluded with companies creating a capital group within the meaning of the provisions on corporate income tax, represented by the parent company in that group, the bank may determine the amount of the consolidated interest rate for the funds collected in the bank accounts of these companies and their loans and loans.

2. The consolidated interest rate referred to in paragraph 2. 1, is calculated from the amount which is the difference between the sum of the stocks in the bank accounts of the companies forming the tax group and the sum of the receivables for the loans granted to those companies and the loans.

3. Unless the contract referred to in paragraph 1, it does not provide otherwise, the monies collected in bank accounts and cash loans, for which the consolidated interest rate has been determined, are not remuneated.

Article 94. (repealed).

Article 95. [ Legal power of bank documents] 1. [ 8] Bank accounts and drawn up on their basis extracts and other declarations signed by persons authorised to make representations on the rights and obligations of the banks and bear the stamp of the bank, as well as those drawn up in the the method of receipt of receivables receipt shall have the legal force of the authentic instruments in respect of the rights and obligations arising from banking activities and established in favour of the bank of securities and may give rise to the entries in the books of the accounts perpetual.

1a. Legal capacity of the authentic instruments referred to in paragraph 1. 1, shall not apply to the documents referred to in that provision in civil proceedings.

2. A bank action or an action to secure a bank's claim as established by the document referred to in paragraph 2. 1, has a date certain from the date of this document.

3. The documents referred to in paragraph. 1, they are the basis for the entry of the mortgage to the perpetual book of the property constituting the property of the debtor of the bank or other person establishing a mortgage on the bank to secure the bank's debtor's claims. If the immovable property does not hold a perpetual book, the security may be made by submitting those documents to a set of documents.

4. The establishment of the mortgage referred to in paragraph. 3, is the required filing by the owner of the property a statement on the establishment of the mortgage on the bank with the preservation of the written form under the rigorously invalidity.

5. The provisions of the paragraph. 1-4 shall apply mutatis mutandis to the disclosure in the books of the perpetual change of the mortgage and the transfer of the mortgage in connection with the sale of the bank claim and to the entry of the mortgage on the perpetual use of the cooperative, cooperative ownership The right to the premises and the mortgage claim.

Article 96. [ Banking Enforcement Title] 1. On the basis of the books of the banks or other documents related to the performance of banking activities, banks may issue bank enforcement titles.

2. In the bank enforcement title shall be marked by the bank which issued it and for which the execution is to be carried out, the debtor liable for payment, the amount of the debtor's obligations together with interest and the deadlines for their payment, the date of issue the bank's execution title, as well as the designation of the bank activity from which the claims are based, and mention of the requirement of the claimed claim. The bank execution title must be stamped with the stamp of the bank issuing the title and the signatures of the persons entitled to act on behalf of the bank.

3. In the event of execution against several persons or from several components of the debtor's assets, further enforcement titles may be issued.

Article 97. [ Enforcement on the basis of a bank execution title] 1. A bank enforcement title may be the basis of enforcement carried out under the provisions of the Code of Civil Procedure after the court has given it a declaration of enforceability only against the person who directly with the bank has carried out the banking activity, or is the debtor of the bank in the title of securing the bank's receivables resulting from the banking act and made a written statement about the submission of execution and when the claim covered by the title results directly from this banking activity or its security.

2. The statement referred to in the paragraph. 1, it should specify the amount of the debt to which the bank can issue a bank enforcement title, and a deadline by which the bank may request that the title be given a declaration of enforceability. The debtor may also be subject to the execution of the issue of the issue where a registered pledge has been established or the transfer of property has been carried out to secure the claim.

3. The request of the bank to grant the declaration of enforceability referred to in the paragraph. 1, the court shall recognize immediately, but not later than within 3 days from the day of its submission.

Article 98. [ Executions against a third party] 1. A bank enforcement title may also be the basis for execution against a third party, when the person takes over the debt resulting from the banking act referred to in art. 97 ust. 1.

2. If, after the banking act referred to in Article 4, 97 ust. 1, the obligation to fulfil the benefit has passed to other persons as a result of the decrease or conversion of the legal person or when there is a need for execution of the property of the common spouses, the basis of execution may be the enforceable title based on the bank title the enforceable enforceability clause given by the court against those persons.

Article 99. (repealed).

Article 99a. (repealed).

Article 100. (repealed).

Article 101. [ Collateral preemptive] 1. Protection of the bank's receivables may be made by transfer to the bank by the debtor or a third party, until the debt is repaid with the interest due and the commission, the ownership of movable or securities.

2. Where property of a species or collection of goods has been transferred, the debtor or the third party shall be obliged to extract and mark the item or collection of things and, if the contract does not otherwise provide, keep a record of the changes in the scope of the expropriation.

Article 102. [ Transfer of amount to the ownership of the bank] 1. In order to secure the bank's receivables the debtor or a third party may transfer a specified amount in the zloty or in another currency convertible into the ownership of the bank. The bank is obliged to reimburse that amount after obtaining the debt repayment together with the interest due and the commission.

2. The Bank shall not be obliged to repay part of the amount assumed on the property, equal to the outstanding amount of the debt owed to the bank, the interest and commission and other costs incurred by the bank in connection with the recovery of the receivables.

3. The Bank may pay to the debtor or to the third party referred to in the paragraph. 1, remuneration for the period of use of the amount hijacked.

Article 103. (repealed).

Article 104. [ Banking Secrecy] 1. The Bank, the persons employed in it, and the persons through whom the bank performs banking activities, shall be obliged to keep the bank secret, which includes all information concerning the banking activity, obtained during the negotiations, during the the conclusion and implementation of the contract on the basis of which the bank performs this task.

2. The obligation referred to in paragraph. 1, not applicable in cases where:

1) without disclosing the information covered by the banking secrecy-due to the nature and nature of the banking activity or the applicable regulations-it is not possible to perform the contract on the basis of which the banking activity is executed or due to the performance of the tasks remaining in connection with the conclusion and execution of that contract;

2) the disclosure of information covered by the banking secrecy to economic operators or foreign entrepreneurs:

a) which the bank, according to art. 6a par. 1 and Art. 6b-6d, entrusted the execution, continuously or periodically, activities related to banking activities,

(b) which have been entrusted with carrying out activities in accordance with Article 6a par. 7

-to the extent necessary for the smooth operation of those operations;

3. the provision of information covered by the bank secrecy to lawyers in connection with the provision of legal aid to the bank by them;

4) the provision of information covered by the banking secrecy is necessary for the conclusion and execution of contracts of sale of receivables classified in accordance with separate provisions into the categories of lost;

5) the provision of information covered by the bank secrecy is necessary for the conclusion and execution of the agreements referred to in art. 92a ust. 1, and the related contracts:

(a) to give an investment grade (rating) to a securitised claim,

(b) insurance against the risk of insolvency of the debtors of the securitised claims;

6) the provision of information covered by the bank secrecy is necessary for the conclusion and execution of the agreements referred to in art. 92a ust. 3 and art. 92d, as well as the related agreements on:

(a) the assessment of the investment (rating) of the securitised claims,

(b) servicing of securitised loans

(c) the organisation and execution of securities issues,

(d) insurance against the risk of insolvency of the debtors of the securitised claims;

(7) the provision of information to other banks, credit institutions or financial institutions belonging to the same financial holding shall be necessary for the smooth conduct of the law, referred to in law, obligations to counteract the laundering money and financing of terrorism;

8) disclosure of the information covered by the bank secrecy is necessary for the execution of the reverse mortgage agreements, in accordance with the provisions of the Act of 23 October 2014. Reverse mortgage credit (Dz. U. Entry 1585).

3. The Bank shall not apply, subject to paragraph. 4, the conduct of banking secrecy against the person to whom the information covered by the secret is concerned. Such information may be disclosed to third parties, subject to the provisions of Article 4 of the Regulation. 105, 106a and 106b, only if the person to whom the information relates in writing to authorise the bank to communicate certain information indicated by himself or to the person or business entity.

4. The Bank, the persons employed in it, and the persons through whom the bank carries out banking activities, shall keep in secret information on the provision of information to the Police on the basis of the rules laid down in Art. 20 para. 4-10 of the Act of 6 April 1990. o Police (Dz. U. of 2011 r. No. 287, pos. 1687, of late. zm.) and regarding the notice referred to in art. 20 para. 13 of that law. The conduct of secrecy shall apply to the parties to the contract, to other persons to whom the information relates, and to third parties.

5. Entities and persons employed in them, who, in accordance with the provision of the paragraph. 2 points 1, 2 and 4 to 6, information covered by the banking secrecy has been granted or disclosed, may use this information for the sole purpose of concluding and implementing the agreements referred to in paragraph 2. 2 points 1, 2 and 4-6.

6. Paragraph Recipe 5 shall apply mutatis mutandis to lawyers who have been granted information covered by the obligation of banking secrecy in connection with the provision of legal aid to the bank.

Article 105. [ The provision of information covered by the secret banking secrecy] 1. The Bank shall be obliged to provide information constituting a banking secret only:

1. other credit institutions and credit institutions, to the extent that such information is necessary in connection with the performance of banking activities and the acquisition and disposal of claims;

(1a) on the basis of reciprocity, other bodies authorised to grant credit, with claims and on the turnover and state of bank accounts, to the extent that such information is necessary in connection with the granting of loans, loans cash, bank guarantees and sureties;

(1b) other banks, credit institutions or financial institutions, to the extent necessary for:

(a) the implementation of the provisions in force concerning supervision on a consolidated basis, including in particular the preparation of consolidated accounts, including the bank,

(b) the risk management of large exposures;

(c) the application of the statistical methods referred to in Article 3. 128d par. 1 and 6;

1c) the institutions referred to in paragraph 1. 4, to the extent necessary for the use of statistical methods referred to in art. 128d par. 1 and 6;

2) upon request:

(a) the Financial Supervision Commission as regards supervision under this Law and the Act of 21 July 2006. on the supervision of the financial market, employees of the Office of the Financial Supervision Authority in the field referred to in art. 139 (1) 1 point 2, and the persons authorised by the Resolution of the Financial Supervision Commission to the extent specified in that authorisation,

(b) a court or a prosecutor in connection with proceedings for a criminal offence or a treasury offence:

-against the natural person who is a party to the contract concluded with the bank, as far as information concerning this natural person is concerned,

-committed in connection with the operation of a legal person or an organizational unit without legal personality, in terms of the information concerning that legal person or the organizational unit,

c) a court or procurator in connection with the execution of an application for legal assistance, coming from a foreign state, which under the ratified international agreement binding the Republic of Poland has the right to request the provision of the information covered by the a bank secret,

(d) the court in connection with the succession proceedings or the distribution of property between the spouses or carried out against a natural person which is a party to the contract with an alimony case or for a maintenance pension,

(e) General Tax Inspectorate, in connection with the following:

-a criminal case or a tax penalty against a natural person who is a party to a contract concluded with a bank,

-a criminal or criminal case for a criminal offence committed in respect of the activities of a legal person or an organisational unit without legal personality which is the holder of the account,

(f) the President of the Supreme Chamber of Control, to the extent necessary to carry out the review procedure laid down in the Act of 23 December 1994. of the Supreme Chamber of Control (Dz. U. 2012 r. items 82),

(g) (repealed),

(h) the Bank Guarantee Fund, to the extent specified by the Law of 14 December 1994. o Bank Guarantee Fund,

(i) the statutory auditor authorised to audit the accounts of the bank on the basis of the bank of the contract,

(j) (repealed),

(k) Internal Security Agency, Military Counterintelligence Service, Intelligence Agency, Military Intelligence Service, Central Anti-Corruption Bureau, Police, Military Gendarmerie, Border Guard, Prison Service, Government Security Bureau and their with the written authorisation of the officers or soldiers to the extent necessary to carry out the examination under the provisions on the protection of classified information,

(l) Police where this is necessary for the effective prevention, detection or detection of criminal offences and the obtaining of evidence, on a basis and in accordance with the procedure laid down in Article 4 (1) of the EC Regulation. 20 of the Act of 6 April 1990. o Police,

(l) a judicial bailicle, to the extent necessary for the proper conduct of enforcement proceedings, of security proceedings, and for carrying out other activities arising under its statutory tasks,

(m) publishers of non-banks payment instruments, to the extent specified by the Act of 19 August 2011. on payment services,

n) General Inspector of Personal Data Protection to the extent necessary for carrying out the statutory tasks specified in Art. 12 and 14 of the Act of 29 August 1997. on the protection of personal data (Dz. U. of 2002. No. 101, pos. 926, with late. zm.),

(o) the coordinator in connection with the performance of the supplementary supervision of a financial conglomerate within the meaning of the Law on supplementary supervision,

(p) Head of the Central Anti-Corruption Bureau, in accordance with the rules laid down in art. 23 of the Act of 9 June 2006. o Central Anti-Corruption Bureau (Dz. U. 2012 r. items 621, 627 and 664),

(q) the competent supervisory authority, where this is necessary for the exercise of that authority on a consolidated basis over the bank, where, in the case of a competent supervisory authority from a State which is not a Member State, if the Supervisory Commission The financial agreement referred to in Article 4 (1) of the Financial Regulation has been concluded with that authority. 141f ust. 3,

(r) the President of the Office for Competition and Consumer Protection, as defined by the Act of 30 April 2004. of proceedings in matters relating to public aid (Dz. U. 2007 Nr 59, pos. 404, z Late. zm.),

(s) the prosecutor, the police and other authorities empowered to carry out preparatory proceedings in cases of criminal offences or investigations in matters of misconduct, to the extent specified in the Article. 78 par. 4 of the Act of 20 June 1997. -The right of traffic (Dz. U. 2012 r. items 1137),

(t) the Customs Service body under the conditions and in accordance with the procedure laid down in Article 75 of the Act of 27 August 2009. o Customs Service (Dz. U. Nr. 168, pos. 1323, with late. zm.),

(u) the entity referred to in Article 26l (1) 1 point 1 of the Act of 14 December 1994. on the Bank Guarantee Fund, to the extent necessary to ensure the proper implementation of the payment of the guaranteed funds,

(v) the administrative enforcement authority and the central liaison office referred to in Article 4. 9 of the Act of 11 October 2013. of mutual assistance in the investigation of taxes, customs duties and other monetary charges (Dz. U. Entry 1289), in the exercise of their statutory tasks;

3) National Bank of Poland, in connection with the exercise of control and collection of data necessary for the preparation of the balance of payments and international investment position, as well as other banks entitled to mediate in the making by residents of remittances abroad and settlements in the country with non-residents, to the extent specified in the Act of 27 July 2002. -Law of foreign exchange (Dz. U. 2012 r. items 826).

2. The scope and rules for the provision of information by the banks to the tax authorities, the General Inspector of Financial Information, the treasury audit authorities and the trustee and his deputy within the meaning of the provisions of the Act of 29 August 1997. about the lists of mortgages and mortgage banks (Dz. U. 2003 r. Nr 99, pos. 919, of late. zm.), they regulate separate laws.

2a. Banks, upon the written request of the Social Insurance Institution, shall be required to draw up and provide information on the bank account numbers of the premiums payable and the transmission of data enabling the identification of the holders of these accounts.

Banki, upon written request of the body paying the benefit of social security or pension provision or salary in resting state, shall be required to draw up and transfer data enabling the identification of the co-holder (co-holders) of the joint account for which the benefits or salary were transferred for the period after the death of the operator.

3. Banks, other legal institutions authorised to grant credit, state bodies and persons who have disclosed the messages constituting the banking secrecy shall use these messages only within the limits of the authorisation referred to in the paragraph. 1.

4. Banks may, together with the banking chambers, set up the institutions authorised to collect, process and make available:

1) banks-information constituting a banking secrecy to the extent that such information is needed in connection with the performance of banking activities and in connection with the application of statistical methods referred to in art. 128 (1) 3 and in Article 128d par. 1;

2) other statutory institutions authorised to grant credit-information constituting a banking secret in so far as such information is necessary in connection with the granting of loans, cash loans, bank guarantees and sureties;

(3) credit institutions-information constituting a banking secret to the extent necessary to assess the creditworthiness of the consumer referred to in Article 9 of the Act of 12 May 2011. about the consumer credit.

4a. Institutions set up on the basis of the paragraph. 4 may make available, subject to paragraph. 4a ¹ and 4a ² , an office of economic information operating on the basis of the Act of 9 April 2010. on providing economic information and the exchange of economic data (Dz. U. Nr 81, pos. 530, with late. zm.) data by teletransmission.

4a ¹ . Provide data based on paragraph. 4a may occur if the creditor requesting the data has obtained the written authorisation of the person to whom the data relate. The authorisation specifies the scope of the data to be made available

4a ² The way in which the data are made available shall be determined by the cooperation agreement between the institution established by the paragraph 4 a bureau of economic information. The agreement shall include the model of authorisation referred to in paragraph 1. 4a ¹ .

4b. Banks may share the office referred to in paragraph. 4a, data on obligations arising from contracts related to the carrying out of banking activities, if these agreements contain clauses informing about the possibility of transferring data to those offices.

4c. Clauses referred to in paragraph 1. 4b, shall contain information on the conditions under which the banks shall transmit the data referred to in Article 4 (2). 14 para. 1 and Art. 15 para. 1 of the Act referred to in paragraph 1. 4a.

4d. Institutions, formed in accordance with the paragraph. 4, may make available to financial institutions, entities dependent on banks, information on the obligations arising from contracts related to the execution of banking activities, if these agreements contain clauses informing about the possibility of the transfer of data to those financial institutions.

5. The Bank shall be liable for damages resulting from the disclosure of bank secrecy and use of its inasmuch use.

6. The Bank shall not be liable for the damage resulting from the disclosure of bank secrecy by persons and institutions authorized by the Act to require banks to provide information constituting the banking secrecy.

Art. 105a. [ Processing of information constituting a banking secret] 1. Processing by banks, other statutory institutions authorised to grant loans and institutions established on the basis of art. 105 (1) 4, information constituting a banking secret in the scope of natural persons may be exercised, subject to art. 104, art. 105 and art. 106-106c, for the assessment of creditworthiness and credit risk analysis.

2. The institutions referred to in paragraph 2. 1, may, subject to paragraph. 3, process information constituting a banking secret in the scope of natural persons after the expiration of the obligation resulting from a contract concluded with a bank or other statutory institution authorised to grant credit, subject to obtaining the written consent of the person to whom the information relates. This consent may be cancelled at any time.

3. The institutions referred to in paragraph 1. 1, may process information constituting the banking secrecy concerning natural persons after the expiration of the obligation resulting from a contract concluded with a bank or other statutory institution authorized to grant credit, without the consent of the person whose information where that person has not made a commitment or has committed a delay of more than 60 days in respect of the benefit of the contract concluded with the bank or other legal institution authorised to grant the credit and, after these circumstances have been established, it has elapsed at least 30 days after the bank or other institution has informed the person by law authorised to grant credit for the purpose of processing the information relating to its information constituting a banking secret, without its consent.

4. Banks and institutions referred to in art. 105 (1) 4, may process information constituting the banking secrecy concerning natural persons after the expiration of the obligation resulting from a contract concluded with a bank or other statutory institution authorized to grant credit, without the consent of the person whose information concerning, for the purposes of the application of the statistical methods referred to in Article 128 (1) 3.

5. Processing of information constituting a banking secret in the cases referred to in the paragraph. 3, may be carried out for a period of not more than 5 years from the date of expiry of the undertaking and in the case referred to in paragraph. 4, for a period of 12 years from the date of expiry of the commitment.

6. The scope of the processed information referred to in paragraph. 3 and 4, may include data relating to a natural person or data relating to a commitment.

(7) The Minister responsible for financial institutions, after consulting the competent authorities, shall determine, by means of a regulation, the detailed scope of the information processed referred to in paragraph 1. 6, and the mode of disposal, taking into account the proper protection of the rights of the persons concerned, and the need to ensure the security of the funds collected in banks and other legal institutions authorised to grant credit.

Article 106. [ Oppression of the use of the bank's activities for purposes related to the crime] 1. The Bank shall be obliged to counteract the use of its activities for purposes related to the criminal offence referred to in art. 165a or art. 299 of the Act of 6 June 1997. -Penal Code (Dz. U. Nr. 88, pos. 553, of late. zm.), hereinafter referred to as the "Penal Code".

2. The mode of the bank's conduct in the event of the existence of the circumstances referred to in paragraph. 1, shall specify a separate law.

3. (repealed).

4. (repealed).

5. (repealed).

Article 106a. [ Notice] 1. In the event of a reasonable suspicion that the activity of the bank is used to conceal criminal activities or for purposes related to a treasury or other criminal offence than the offence referred to in art. 165a or art. 299 of the penal code-the bank shall notify the prosecutor, the Police or any other competent authority empowered to conduct the preparatory proceedings.

2. The prosecutor, the Police or any other competent authority authorised to conduct the preparatory proceedings, which has received the notification referred to in the paragraph. 1, may request the addition of information, also in the course of the action taken under Article 307 of the Act of 6 June 1997. -Code of Criminal Procedure (Dz. U. Nr. 89, pos. 555, z późn. zm.).

3. In the event of a reasonable suspicion that the funds collected in the bank account of the funds, in whole or in part, originate or are related to a criminal offence other than the offence referred to in art. 165a or art. 299 of the penal code, the bank is entitled to make a blockade of funds on this account. The lock may be held only up to the amount collected on the account of the measures which are suspected of being blocked.

4. The lock of funds in the account, made in the circumstances referred to in the paragraph. 3, it shall not last longer than 72 hours.

5. They shall immediately after the blockade referred to in paragraph 1. 3, the bank shall notify the prosecutor.

6. Within the period specified in the paragraph 4, the prosecutor shall issue a decision to initiate or refuse to initiate proceedings, which shall be immediately notified to the competent bank. The term specified in Article 307 § 1 of the Code of Criminal Procedure does not apply. In the event of the opening of the proceedings, the prosecutor shall, by way of order, make a block of funds on the account for a period of time marked not more than three months after receipt of the notification referred to in paragraph 1. 5. The provision shall specify the scope, the manner and timing of the account lockout.

7. The order of the prosecutor on the application of the block of funds on the account shall be entitled to a complaint to the court competent to identify the case.

8. The lock of funds in the account shall fall if, before the expiry of the period of 3 months from receipt of the notification referred to in paragraph 1. 5, no provision for property collateral will be issued.

9. In matters concerning the blocking of funds on the account, not regulated by the Act, the provisions of the Code of Criminal Procedure shall apply.

10. The Bank shall not be liable for the damage which may arise from the execution in good faith of the obligations set out in the paragraph. 3-5. In such a case, if the circumstances referred to in paragraph 1 are concerned. 3-5, have not had a connection to the crime or the conceit of criminal activities referred to in paragraph. 1, the liability for damage resulting from the filing of a block of funds on the account shall be borne by the State Treasury.

11. The Bank shall hold a block of funds in the bank account, in its entirety, also at the request of the account lock referred to in Art. 75e ust. 1 of the Act of 27 August 2009. o Customs Service. The provisions of the paragraph 10 shall apply mutatis mutandis.

Article 106b. [ Proposal] 1. In addition to the cases referred to in art. 105 and art. 106a, the prosecutor conducting the proceedings for a criminal offence or a treasury offence may require the bank, persons employed in the bank and persons through whom the bank performs banking activities, to provide information constituting the banking secrecy only on the basis of the order issued at his request by the competent local district court.

2. The application referred to in paragraph 2. 1, it shall contain:

1) the number or signature of the case;

2) a description of the offence together with the legal qualification to which the preparatory proceedings are concerned;

3) circumstances justifying the need for information to be made available;

4) an indication of the person or organizational unit to whom the information relates;

5) the entity obliged to provide information and data;

6) type and scope of information.

3. After examination of the application, the court shall, by order, agree to provide the information, specifying their type and scope, the person or organizational unit to which they relate, and the entity obliged to make them available, or refuses to grant the consent to provide information.

4. To the order of the court referred to in paragraph. 3, shall be entitled to the complaint of the prosecutor requesting the decision.

5. An authorized by the court of the prosecutor in writing shall inform the entity obliged to release the information about the content of the court, the person or entity to whom the information is to be concerned, the type and scope of that information.

Article 106c. [ Request for information] The prosecutor conducting the proceedings, in the cases referred to in art. 105 (1) 1 point 2 (a) b and c, may-on the basis of the order issued at his request by the competent local district court-to request information constituting a bank secret from the entities to which the bank disclosed the information constituting the bank secrecy. The provisions of Article 4 106b ust. 2-5 shall apply mutatis mutandis.

Article 106d. [ The cases of processing and making available the information covered by the banking secrecy] Banks, other legal institutions authorised to grant loans and institutions set up under Article 105 (1) 4 may process and mutually share information covered by the banking secrecy, in cases:

1) reasonable suspicion, referred to in art. 106a ust. 3;

2) crimes committed to the detriments of banks, credit institutions, and financial institutions and their clients in order to and the extent necessary to prevent these crimes.

Article 107. [ Liability of bank employees] An employee of a bank who, contrary to his duties, does not notify the circumstances listed in Article 4. 106 (1) 1, bears the responsibility of the order, which does not exclude criminal liability if the act fulfils the marks of a criminal offence.

Article 108. [ Liability for damages] The Bank shall not be liable for any damage which may arise from the execution in good faith of the obligations laid down in the Article. 106 (1) 1. In such a case, if the circumstances referred to in Article 106 (1) 1, have no connection to the crime or the conceit of criminal activities, the liability for damage resulting from the interruption of banking activities shall be borne by the State Treasury.

Article 109. [ General terms and conditions of agreements and regulations] 1. The Bank shall, in the field of its activity, issue general terms and conditions of agreements or regulations specifying:

1) conditions for opening and running bank accounts;

2. the types of loans to be granted and the terms and conditions of loan agreements and loan agreements;

3) conditions for making available safe deposit boxes;

4) the conditions for the execution of other service activities of the bank.

2. The provisions of the general terms and conditions of the agreements and regulations referred to in paragraph 1. 1, shall be binding on the parties, unless the parties in the agreement establish a different right of their rights and obligations.

Article 110. [ Commissions and Charges] The Bank may charge fees and charges for the execution of banking activities provided for in the contract and the fees for carrying out other activities, including fees for the preparation, preparation and transmission of information constituting a banking secret. authorised by law to persons, bodies and institutions, except in cases where the provision of information is made on request:

1) a court or prosecutor in the course of criminal proceedings or proceedings in a treasury crime case;

2) a prosecutor in cases concerning the exploitation of the activities of banks for purposes related to the criminal offence referred to in art. 299 of the Criminal Code;

3) the persons authorized by the Resolution of the Financial Supervision Commission and the Supervision of Banking Supervision;

4) the General Tax Inspectorate, the Director of the Tax Inspectorate and the Head of the Tax Office within the scope of the separate statutes;

5. the Social Insurance Institution in matters relating to the bank account numbers of the payers of contributions and the data enabling the holders of these accounts to be identified;

6) Internal Security Agency, Military Counterintelligence Service, Intelligence Agency, Military Intelligence Service, Central Anti-Corruption Bureau, Police, Military Police, Border Guard, Prison Service, Government Security Bureau in connection with checks carried out on the basis of the provisions for the protection of classified information;

7) the prosecutor, the Police and other bodies authorized to conduct preparatory proceedings in cases of criminal offences or investigations in cases of misconduct-as regards the information provided for the purposes of these proceedings;

8) the Customs Service body issued in connection with the ongoing proceedings for a treasury offence.

Article 111. [ Announcements by the Bank] 1. The Bank shall be obliged to advertise at the place where the activities are performed, in a general manner:

(1) the rate of interest rates applied on bank accounts, loans and loans;

2) the applicable commission rates and the amount of charges levied;

3) the time limits for capitalisation of interest;

4) the exchange rates applied;

5) balance sheet with the opinion of the auditor for the last period under examination;

6) the composition of the board and the supervisory board of the bank;

7) (repealed);

8) the names of the persons authorised to enter into obligations on behalf of the bank or the organizational unit of the bank;

9) (repealed).

2. Cooperatives ' Banks shall be required in addition to the information referred to in paragraph. 1, specify the area of its operation and the bank of the association.

Article 111a. [ Information on capital adequacy] 1. The Bank shall be obliged, subject to the paragraph. 2, advertise in a general manner available:

1) information of a qualitative and quantitative nature concerning capital adequacy;

2) the rules for determining the remuneration of persons occupying managerial positions at the bank.

2. The obligation referred to in paragraph. 1, not applicable:

1) information, the omission or distortion of which cannot change the assessment or decision of a person using such information when making economic decisions, or influence such assessment or decision (non-essential information);

(2) information the disclosure of which may adversely affect the position of the bank on the relevant market within the meaning of the provisions on competition and consumer protection;

3) information covered by the secret legally protected.

3. In the case referred to in paragraph. In accordance with Article 2 (2), (2) and (3), the bank shall give reasons for withdrawing from the publication of the information and shall disclose the general data in that range, provided that this is not the information referred to in paragraph 2. 2 points 2 and 3.

4. The Polish Financial Supervision Authority will determine, by way of a resolution, detailed rules and the manner of announcing the information referred to in the paragraph. 1 and 3, and the scope of the information to be advertised.

Article 111b. [ Obligation to advertised information on entrepreneurs] 1. The Bank shall be obliged to publish in general available information about the entrepreneurs or foreign entrepreneurs referred to in Art. 6a par. 1 and 7, in so far as it is granted access to information protected by banking secrecy when carrying out the activities of a bank or other economic operator or a foreign entrepreneur, as referred to in those provisions, by the bank.

2. The information referred to in paragraph. 1, the bank shall also be obliged to make available free of charge, at the request of the person concerned, at the place of the exercise referred to in art. 111 (1) 1.

Article 112. [ Court of jurisdiction for disputes between banks and NBP] Disputes arising out of relations between the National Bank of Poland and other banks against the background:

(1) minimum reserves,

2. interbank accounts,

(3) trading of securities

-recognizes Provincial Court [ 9] in Warsaw-the Economic Court.

Art. 112a. (repealed).

Art. 112b. [ Processing Information] The banks may process information contained in the identity documents of natural persons for the purpose of banking activities.

Chapter 9

Association, merger and division of banks

Article 113. (repealed).

Article 114. (repealed).

Article 115. (repealed).

Article 116. (repealed).

Article 117. (repealed).

Article 118. (repealed).

Article 119. (repealed).

Article 120. (repealed).

Article 121. [ Banking Chambers] 1. Banks may be affiliated to the bank of the Chamber of Economic Isles.

2. The provisions of the Act of 30 May 1989 shall apply to the banking chambers of commerce. o Economic Chambers (Dz. U. 2009 r. Nr 84, pos. 710).

Article 122. [ Banking Associations] 1. Banks may, on the basis of a contract, associate with other banks.

2. The rights and obligations of the members of the association shall determine the contract.

3. The creation of an association shall be notified to the Financial Supervision Commission, which shall also be notified to the association agreement.

Article 123. [ Council of Association] 1. The board of directors of banks shall form the board of association.

2. The scope and mode of operation of the Board of affiliated banks and the execution of its resolutions shall be determined by the agreement.

Article 124. [ Connecting banks] 1. The Bank may connect only with another bank or a credit institution, after obtaining the permission of the Financial Supervision Commission.

2. The Polish Financial Supervision Authority refuses to issue the permit referred to in paragraph. 1 if the merger would lead to a breach of the law, the interests of the bank's clients involved in the merger or would jeopardise the security of the funds collected in that bank.

3. In the case where the acquiring bank is a national bank, the merger can only be effected by transferring the entire assets of the acquired bank or the taking over of the credit institution to the acquiring bank, for the shares or shares which the acquiring bank is responsible for issue to the members or shareholders of the acquiree or the credit institution concerned. The shares or shares shall not appear in the case referred to in Article 514 of the Code of Commercial Companies.

Art. 124a. [ Acquisition of bank company by bank] The acquisition of a banking company or its organised part by the bank requires the authorisation of the Polish Financial Supervision Authority.

Article 124b. [ Independence of the division] Cooperative banks are not subject to the division referred to in the provisions of Part I of Title I of Chapter XI of the Act-Cooperative Law.

Article 124c. [ Division of the bank in the form of a public limited company] 1. Banks in the form of a joint-stock company shall be subject to division only in the manner set out in Art. 529 § 1 point 4 of the Commercial Companies Code, provided that the transfer of a share of the assets of a shared bank will be made to a public limited company which is a national bank or a credit institution.

2. The division of the bank referred to in paragraph 2. 1, requires the authorisation of the Polish Financial Supervision Authority. The Financial Supervision Commission shall refuse authorisation if the division is likely to be unfavourable to the prudent and stable management of the divided bank or the banks for which the share of the shared bank is transferred or if the division is likely to cause serious damage to the national economy or to the important interests of the State.

Article 125. (repealed).

Chapter 10

Own funds, internal capital and financial management of banks

Article 126. [ Size of own funds] In order to ensure the economic security of the banks, the banks are required to hold own funds, adjusted to the size of their business.

Article 127. [ Bank's own funds] 1. The bank's own funds shall include:

1) the bank's basic funds;

2) the bank's supplementary funds in the amount not exceeding the bank's core funds;

3) (repealed).

2. The bank's basic funds shall include:

1. the principal funds of the bank, which constitute:

(a) in the State bank, the statutory fund, the backup fund and the reserve fund,

(b) in a bank in the form of a public limited company, the paid-up and registered share capital and reserves and reserves, with the exception of any preference for preference shares,

(c) in the cooperative bank, the paid-up equity fund and the reserve fund and the reserve fund,

(d) in the foreign bank branch, the funds specified in the branch's rules of procedure;

2. additional items of primary funds, which constitute:

(a) a general risk fund for an unidentified risk of banking activities,

(b) the undivided profit of previous years,

(c) profit in the course of the approval and net profit of the current reporting period, calculated in accordance with the accounting rules in force, less any expected charges and dividends, in amounts not greater than the amount of profit verified by statutory auditors,

(d) other balance sheet items of the bank, as defined by the Financial Supervision Commission;

(3) items reducing the basic funds, which constitute:

(a) own shares held by the bank, measured at the balance sheet value, less the write-offs caused by the permanent loss of their value,

(b) intangible assets, measured at the balance sheet value,

(c) loss of previous years,

(d) loss in approval,

(e) net loss of the current period

(f) other deductions from the Bank's core funds, as defined by the Financial Supervision Commission.

3. The bank's supplementary funds shall include:

1) capital (fund) of the revaluation of tangible assets in kind, created on the basis of separate regulations;

2) with the approval of the Financial Supervision Commission:

(a) an additional amount of liability of the members of the cooperative bank, in the part specified by the Financial Supervision Commission, of not more than half of the amount referred to in art. 10 para. 2 of the Act on the Functioning of cooperative banks, their association and associations of associations,

(b) subordinated liabilities, understood as acceptance by the bank, in the amount and on the basis of the rules laid down in the decision of the Financial Supervision Authority, at the request of the bank, reduced by the end of each year in the last 5 years the duration of the contract by 20% of that amount, including that in a State bank, a bank in the form of a joint-stock company and in a foreign bank branch, that amount may not exceed half of the basic funds, and in the cooperative bank the sum of that amount and the additional amount the liability of the members referred to in point (a) may not exceed half of the basic funds bank-cash which meets in accordance with the contract, together with the following conditions:

-the monetary measures were adopted for a minimum period of 5 years (period of contract),

-the cash cannot be withdrawn from the bank before the end of the contract period, subject to paragraph. 4,

-the monies are repayable in the final order in the event of the bank's bankruptcy or liquidation,

-the return of cash is not secured by the bank directly or indirectly,

(c) funds created from own funds or outsiders, provided that:

-the bank may freely use it to cover an unidentified risk,

-their amount was calculated in accordance with the accounting rules in force, as determined by the management board of the bank and verified by the auditors,

(d) securities obligations with an unspecified maturity date and other instruments of similar nature, provided that:

-they are not subject to repayment at the initiative of the creditor without the prior approval of the Financial Supervision Commission,

-the agreement confers on the bank the possibility of deferring the payment of interest on these items,

-in the event of insolvency of the bank or its liquidation, the measures adopted will be repaid in the last place,

-the terms of issue shall ensure that the amount of the debt is capable of covering losses with the outstanding interest arising from those positions;

3) other items specified by the Financial Supervision Commission for the safe conduct of banking activities and proper risk management at the bank;

4) the reduction of supplementary funds, as defined by the Financial Supervision Commission.

4. At the request of the bank, the Financial Supervision Commission may agree to the earlier repayment of the cash referred to in paragraph. 3 point 2 (b), subject to compliance with the requirement referred to in Article 3 (2) (b). 128 (1) 1.

5. The Financial Supervision Commission:

1. will determine, by way of a resolution, the amount and the conditions for crediting the own funds of the cooperative bank part of the additional amount of liability of the members of the cooperative bank referred to in paragraph. 3 point 2 (a);

1a) (repealed);

2) may specify, by way of a resolution:

(a) other balance sheet items of the bank referred to in paragraph 1. Article 2 (2) (d), (d) the amount, scope and conditions of their reckoning to the bank's basic funds,

(b) the amount, scope and conditions for the reduction of the bank's basic funds for the items referred to in paragraph 1. 2 point 3 (a) a-e,

(c) other deductions of the basic funds referred to in paragraph 1. 2 points 3 (f), their amount, scope and conditions of deduction of the Bank's own funds,

(d) other balance sheet items of the bank referred to in paragraph (d). 3 point 3, their amount, scope and terms of their advance payment to the bank's supplementary funds,

(e) the reduction of the supplementary funds referred to in paragraph 1. The amount, scope and conditions of deduction of the Bank's supplementary funds shall be set out in point 4 thereof.

6. At the request of a bank carrying out a programme of remedial proceedings or the bank of the acquiring bank in danger of bankruptcy or liquidation, the Polish Financial Supervision Authority may grant an agreement not to take account of the deduction of the funds of the basic funds or complementary, for the purpose of setting limits referred to in Article 71 (1) 1-1c, part or all of the bank's capital involvement in financial institutions, credit institutions, banks, insurance and reinsurance undertakings, expressed in the form of:

1) holding shares or shares;

2) the amounts eligible for subordinated liabilities;

3) other capital involvement in the components included in the own funds or the capital of those entities, including the aid for the limited liability company, according to the carrying amount.

7. The alienation or reduction referred to in paragraph 1 shall be reduced. 5 points 1 and 2, may require the approval of the Financial Supervision Commission. The requirement to obtain the approval of the Commission shall be determined by the resolutions referred to in paragraph 1. 5 points 1 and 2.

Article 128. [ Solvency Ratio] 1. The Bank shall maintain:

1) own funds at a level not lower than the equivalent in the zloty amount specified in art. 32 par. 1, and in the case of cooperative banks which are members of the association referred to in Art. 32 par. 2, taking into account art. 172 (1) 3, converted by the average rate announced by the National Bank of Poland in force at the reporting date, with the fact that the cash contributions may not exceed 15% of the bank's core funds;

2) the sum of own funds and additional balance sheet items of the bank defined by the Financial Supervision Commission at a level not lower than the higher of the following values:

(a) the sum of the capital requirements for each type of risk and the capital requirements for exceeding the limits and breaches of other standards set out in the Act,

(b) the amount estimated by the bank, necessary to cover all identified significant risks arising from the bank's activities and changes in the economic environment, taking into account the expected level of risk (internal capital);

(3) a solvency ratio of at least 8% and a bank starting operating at least 15% for the first 12 months of operation and for the next 12 months of operation, at least 12%.

2. The Bank shall regularly review the process of estimating and maintaining internal capital in order to ensure that this process is comprehensive and appropriate to the nature, scale and complexity of the bank's activities.

3. With the approval of the Financial Supervision Commission, the bank may use statistical methods for calculating capital requirements.

4. The Bank, in order to determine capital requirements, may on terms and conditions, and in the manner set out in the resolution of the Financial Supervision Commission referred to in paragraph. Article 6 (5), benefit from the creditworthiness assessments that are broadcast by:

1) external institutions of credit assessment, as defined in the resolution of the Financial Supervision Commission referred to in paragraph 1. 6 point 6;

2. Export credit agencies.

5. Banks, external creditworthiness assessment institutions and export credit agencies, the assessments of which use banks, are required to provide the Financial Supervision Commission with the information necessary to verify the fulfilment of the conditions of use of the those assessments.

6. The Polish Financial Supervision Authority will determine, by way of a resolution:

1) the additional items of the balance sheet of the bank referred to in paragraph 1. 1 point 2, and the scope, manner and conditions of their designation;

2. the detailed conditions for estimating the internal capital and making the bank of the reviews referred to in paragraph 1. 2;

3) the scope and detailed rules for the determination of capital requirements, including the scope and conditions of application of the methods referred to in paragraph. 3, and the extent of the information attached by the bank to the requests for consent referred to in paragraph. 3 and in art. 128d par. 1;

4) the manner and detailed rules for calculating the bank's solvency ratio;

5) Terms and conditions of the use of credit assessments by external credit assessment institutions and export credit agencies, rules for the association of creditworthiness assessments transmitted by external credit assessment institutions with credit quality steps and the conditions for changing such links and rules for the use of credit assessments by the export credit agencies in order to determine the requirements of the credit assessment capital;

6. the creditworthiness assessment of the external credit assessment institutions from which the bank may use to determine the capital requirements and the scope for the use of those assessments and their link to credit quality steps;

7) the terms and conditions according to which the bank may take into account the conclusion of the agreements referred to in art. 92a ust. 1 and 3 and Art. 92d, for the purposes of determining the capital requirements referred to in paragraph 1. 1 point 2.

7. In the event of failure to meet the requirements referred to in paragraph. 1, the bank shall be obliged to notify the Financial Supervision Commission immediately.

(8) The Polish Financial Supervision Authority may specify, by way of resolution, binding banks of prudential standards setting out the risks in the operation of banks other than capital requirements and the scope of their application.

9. The Polish Financial Supervision Authority may, in particularly justified cases, agree to exceed the limit on the size of the non-monetary contributions referred to in paragraph. 1 point 1.

10. Account taken by the bank of the additional balance sheet items referred to in paragraph 1. Article 6 (1), and the application of the methods referred to in paragraph 6 (1). Article 6 (3), under the conditions set out under those provisions, may be subject to the approval of the Financial Supervision Commission, other than those referred to in paragraph 3, to the Commission. 3.

Art. 128a. [ The provision of information on the structure of own funds] The Bank shall be required to provide, at the request of the Financial Supervision Commission, any information relating to the structure of own funds referred to in Article 4. 127, and regarding the fulfilment of the requirements and standards laid down in Article 128.

Article 128b. [ Exemption from the obligation to meet certain requirements and standards] 1. The Polish Financial Supervision Authority may, at the request of a state bank, exclude the part of the activity or the entire activity of that bank, related to the servicing of funds created, entrusted or transferred to that bank on the basis of separate laws, or within the framework of the implementation of governmental programmes by this bank, from the obligation to meet certain requirements and standards referred to in the Act.

2. The Polish Financial Supervision Authority may, at the request of a state-owned bank, issue a permit for entruning another bank with an assessment of the ability to repay the undertaking and to analyse the risk of payment of the obligation in the case of:

1) to grant to that bank by a state bank the guarantee or surety of the credit portfolio understood as a set of individual loans granted by that bank, for which the total amount of the guarantee limit or guarantees for a specified period of time determines the contract between this bank and the State bank;

2) to grant the surety or guarantee of the portfolio of due performance of other liabilities understood as a collection of individual civil-law contracts, for which the total amount of the limit of guarantees or guarantees is determined by the agreement between the bank and the state bank.

Art. 128c. [ Notification of the acquisition of shares] The Bank is obliged to report to the Financial Supervision Commission with a 30-day advance intention to acquire a holding or holding, the value of which will exceed 5% of the bank's own funds.

Art. 128d. [ Statistical Method] 1. A bank which is an EU parent institution and subsidiaries of that bank operating with that bank in the holding company, and entities dependent on the EU parent in the financial holding, may use the statistical methods referred to in art. 128 (1) 3, after obtaining the consent of the Polish Financial Supervision Authority. The Financial Supervision Commission shall, when giving its consent, may determine the conditions and time limits for the use of these methods in its content.

2. The Polish Financial Supervision Authority shall issue the consent referred to in paragraph. 1, within 6 months from the date of receipt of the complete application for its release. The application for consent shall be subject to the application of Article 4 (1) (a) of the 33.

3. The Polish Financial Supervision Authority shall cooperate with the competent supervisory authorities with a view to achieving a common position, both on the basis of the decision itself and on the basis of its conditions.

4. If, within the period referred to in paragraph 1, 2, the Financial Supervision Commission and the competent supervisory authority will not reach an agreement, the Financial Supervision Commission shall give its consent, taking into account the opinions expressed by the competent supervisory authorities. In the explanatory memorandum to the decision, the Financial Supervision Authority shall take into account the views and reservations of the other competent supervisory authorities received within the time limit referred to in paragraph 1. 2.

(5) The decision on consent shall be given to the competent supervisory authority.

5a. If, before the expiry of the period referred to in paragraph 1, the 2, the competent supervisory authority shall refer the matter to the European Banking Authority in accordance with art. 19 of the Regulation (EU) No 1093/2010 of the European Parliament and of the Council of 24 November 2010. on the establishment of a European Supervisory Authority (European Banking Authority), amendments to Decision No 716 /2009/EC and repealing Commission Decision 2009 /78/EC (Dz. Urz. EU L 331, 15.12.2010, p. 12), hereinafter referred to as "Regulation No 1093/2010", the Financial Supervision Commission shall suspend the proceedings until the European Banking Supervision Authority has issued a decision in accordance with Article 4 of Regulation No 1093/2010. 19 (1) 3 of that Regulation.

6. Where the consent to the common application with the bank of statistical methods by the EU parent institutions and their subsidiaries or subsidiaries of the EU parent undertaking in the financial holding shall be issued by other competent supervisory authorities, The Financial Supervision Commission shall cooperate with them in the issuing of their consent by those authorities.

7. The Bank referred to in paragraph 6, informs the Commission of the Financial Supervision of the intention to jointly use statistical methods and the planned extent and time limit for the submission of an application for consent by the competent supervisory authority referred to in paragraph. 6.

8. The Bank referred to in paragraph 6, as soon as an application for consent has been lodged, by the competent supervisory authority referred to in paragraph 1. 6, submit a proposal to the Financial Supervision Commission in respect of the bank. Art. 141g. 3 shall apply mutatis mutandis.

9. The Polish Financial Supervision Authority may express an opinion on the proceedings referred to in paragraph. 6, in sufficient time for the competent authority to exercise its supervisory authority within six months from the date of receipt of the request for its issue.

10. The Polish Financial Supervision Authority shall transfer to the bank referred to in paragraph 1. 6, the decision on the application for a joint application of statistical methods issued by the competent supervisory authority.

Article 129. [ Bank's financial economy] 1. Banks shall carry out their own financial economy on the basis of a financial plan in such a way as to ensure coverage of the revenues generated by the operating expenses and liabilities.

2. The creation from the write-off from the net profit of the funds and their purpose, and the rules for covering the losses shall be determined by the statutes of the bank.

3. The purpose of the distribution between shareholders of the amount exceeding the profit for the last financial year, less the uncovered losses, the own shares and the amounts that cannot be allocated for the payment of dividends, requires the approval of the Supervisory Commission Financial.

Article 130. [ Reserve for general risk] (1) Banks may create a general risk reserve in order to cover an unidentified risk associated with the conduct of banking activities. The banks shall establish and resolve this reserve on the basis of an assessment of that risk, taking into account in particular the volume of receivables and off-balance-sheet commitments given.

2. The size of the annual write-off for the general risk reserve referred to in paragraph 2. 1, shall be:

1) at most 1.5% of the outstanding amount of loans and cash loans, less the amount of loans and loans, classified according to separate provisions to the categories executed at the end of the previous financial year;

2. no more than the amount of the write made in the current financial year from the profit for the previous year to the general risk fund referred to in Article 3 (2) of the Financial Regulation. 127 par. 2 point 2 (a) a.

3. The copy referred to in paragraph. 2, may be made no more than once a month in equal amounts. Pending the write-off of a general risk fund in the current financial year, the basis for the determination of the amounts may be the prediction or proposals for that deduction in the financial plan.

4. The Bank shall terminate the reserve at risk of general risk if the bank's assessment of the circumstances justifies the continuation of the reserve.

Chapter 11

Banking supervision

Article 131. [ Banking Supervision Commission] 1. The activities of banks, branches and representations of foreign banks, branches and representations of credit institutions are subject to banking supervision exercised by the Financial Supervision Commission in the scope and on the principles set out in this the Act and the Law of 21 July 2006. on the supervision of the financial market.

2. Supervision over the activity of a branch or a representation of a foreign bank in the country and a branch or representation of a domestic bank abroad, including the scope and mode of carrying out the control activities, may be executed within the scope agreed upon in the agreement of the Financial Supervision Commission with the competent supervisory authorities.

3. The Polish Financial Supervision Authority may, in accordance with the provisions of the agreement referred to in paragraph 1, 2, provide information on the bank to the banking supervisory authority of another country, if:

1) as a result, the economic interest of the Republic of Poland will not be affected;

2) the use of information provided only for the purposes of banking supervision is ensured;

3. It is ensured that the transfer of information provided outside the banking supervisory authority is possible only after prior approval of the Financial Supervision Commission.

If the competent supervisory authority refuses to enter into the agreement referred to in paragraph 1, the said paragraph shall be set out in the 2, or in spite of its conclusion, does not apply to its provisions, including does not give within the prescribed period of information the information requested by the Financial Supervision Commission, or refuses to grant such information, the Financial Supervision Commission may notify the European Banking Authority thereof.

4. (repealed).

5. (repealed).

6. (repealed).

7. (repealed).

Article 131a. [ Financing of supervision costs] 1. Banks shall be obliged to contribute to the payment of bank supervision, which constitute the product of the sum of the balance sheet assets of the banks and of the rate not exceeding 0,024%.

2. Receivables for the payment of the supervision costs referred to in paragraph 1. 1, shall be subject to enforcement in the procedure of enforcement proceedings in the administration.

3. The President of the Council of Ministers shall determine, by means of a regulation, the time limits for payment, the amount and the method of calculation of the payments referred to in paragraph. 1, taking into account the effectiveness of the supervision exercised.

4. In the event of failure to pay the payment, determined on the basis of the paragraph. 3, interest shall be collected at the rate of statutory interest.

Article 132. [ Initiate surveillance action] Minister of Finance or Minister of Treasury may request the Commission's Financial Supervision Authority to take any action or measures under the supervision referred to in Article 133 and Art. 138.

Article 133. [ Objectives of supervision] 1. The purpose of supervision is to provide:

1) the security of cash collected in bank accounts;

2) the compliance of the activities of the banks with the provisions of this Act, the Act on the National Bank of Poland, the statutes and the decision to issue the permit for the formation of the bank;

3) the compliance of the activities carried out by the banks in accordance with art. 70 par. 2 of the Act of 29 July 2005. marketing of financial instruments with the provisions of this Act, this Act and the statutes.

1a. In carrying out its tasks, the Polish Financial Supervision Authority shall take into account the guidelines and recommendations of the European Banking Authority. In the event of failure to take account of the guidelines or recommendations of the European Banking Authority, the Committee on Financial Supervision shall state the reasons for their disregard

2. The activities of the banking supervision shall consist, in particular, of:

1) making an assessment of the financial position of the banks, including the examination of solvency, the quality of the assets, the liquidity of the payment, the financial result of the banks;

2) a study of the quality of the system of managing the bank, in particular the risk management system and the internal control system;

3) a study of the compliance of loans, cash loans, letters of credit, bank guarantees and guarantees and issued bank securities with the provisions in force in this respect;

4) a study of the security and timeliness of the repayment of loans and cash loans;

5. the examination of the observance of the limits referred to in Article 71 and art. 79a, and an assessment of the process of identification, monitoring and control of the concentration of exposures, including large exposures;

6) the examination of the compliance by the bank, specified by the Financial Supervision Commission of the standards of acceptable risk in the activities of the banks, of the risk management of the business, including the adjustment to the type and scale of the activities of the process bank the identification and monitoring of risks and the reporting of risks;

7. to assess the assessment, maintenance and review of internal capital.

3. The control activities of the employees of the Office of the Polish Financial Supervision Authority shall be carried out upon presentation of the official identity card and service of the authorization issued by the Chairman of the Financial Supervision Authority.

3a. The provisions of Chapter 5 of the Act of 2 July 2004 shall apply to the control of economic activities of the trader. about the freedom of economic activity.

4. The Polish Financial Supervision Authority and the persons performing the activities of the banking supervision shall not be liable for the damage resulting from the lawful acts or omissions which remain in connection with the supervision exercised by the Supervisory Commission Financial supervision over the activities of banks, branches and representations of foreign banks and branches of credit institutions.

Article 134. [ Examination of financial statements] 1. Examination of the financial statements of the bank, as well as of the branch of the foreign bank, may be commissioned only to the auditors, who meet the requirements set out in the Act of 7 May 2009. about the experts and their local authorities, entities entitled to audit financial statements and on public supervision (Dz. U. Nr 77, pos. 649, 2010 No. 182, pos. 1228 and 2012 items 1166).

2. Banks shall be obliged to submit to the Financial Supervision Commission the audited individual and consolidated financial statements together with the opinion and report of the auditor within 15 days from the date of their approval and with the write-off of the resolution or the provisions the approval authority of the approval of the financial statements.

Article 135. [ Irregularities in the audit carried out on behalf of the bank] 1. In the event of a finding of irregularities in the conducted examination on the order of the bank, the Polish Financial Supervision Authority may require the bank to order the designated auditor to examine the correctness and reliability of all financial statements written by the bank, auditing of accounts, analysis of the credit portfolio and carrying out other activities referred to in Article 133 (1) 2. If irregularities have been found as a result of the examinations, the bank shall bear the costs of the examination

2. The test request referred to in paragraph. 1 may also be granted directly by the Financial Supervision Commission. The Commission shall, subject to paragraph 1, be borne by the Commission. 3.

3. If, as a result of the examination commissioned by the Financial Supervision Commission, irregularities were found, the costs of the examination shall be borne by

4. Taking into account the need to preserve specific security measures, when selecting the auditor to audit the financial statements of the bank referred to in paragraph. 2, the provisions of the Act of 29 January 2004. -Public procurement law (Dz. U. of 2010 Nr 113, pos. 759, with late. zm.) does not apply.

Article 136. [ Notification of irregularities] 1. A statutory auditor carrying out the audit of the bank's financial statements and the examination referred to in art. 134 and Art. 135, it shall immediately notify the Financial Supervision Commission of the facts to which it has been disclosed, indicating:

1) committing a crime;

2) violation of the regulations governing the bank's activities;

3) violation of the principles of good banking practice or other threat of the bank's clients ' interests;

4) the existence of conditions for the expression of negative opinion on the bank's financial statements or the refusal to express the opinion.

2. When carrying out the tasks referred to in Article 4 by the statutory auditors, 135 par. 2, they shall apply mutatis mutandis the provisions concerning the banking supervisory staff performing these operations.

3. The provisions of the paragraph. 1 shall apply mutatis mutandis to the auditors of the audited financial statements of entities with close links to the bank.

Article 137. [ Liquidity standards setting] The Financial Supervision Commission shall:

1) specify, by way of a resolution, the scope of the information referred to in art. 22a (b) 2, and a list of the information and documents referred to in art. 22b par. 2;

(1a) specify, by way of a resolution, a list of the documents referred to in Article 3. 6a par. 5 point 1;

2) specify, by way of a resolution, a list of the documents referred to in art. 31 par. 2 point 3;

3) may establish binding banks of liquidity standards and other tolerable risk standards in the activities of banks;

4) may specify, by way of resolution, detailed rules for the management of the risks related to the activities referred to in Article 6a-6d;

5) may issue recommendations on good practices of prudent and stable management of banks.

Art. 137a. [ Size expressed in foreign currency] For the purposes of checking the compliance of the banks with the standards and limits laid down by the Act, the amounts expressed in foreign currency within the meaning of the provisions of the foreign exchange law shall be converted into gold and the size of the convertible currencies shall be determined by- according to the average rates advertised by the National Bank of Poland at the date of making the check.

Article 138. [ Recommendations, warrants and sanctions to be applied by the Financial Supervision Commission] 1. The Polish Financial Supervision Authority may, as part of supervision, recommend to the bank in particular:

1) take the necessary measures to restore payment liquidity or to achieve and comply with the standards referred to in art. 137;

2) increase of own funds;

3) omisations of specific forms of advertising;

4. the development and application of procedures to ensure the maintenance, ongoing estimation and review of internal capital and the functioning of the bank management system;

5) the application of specific rules for the creation of provisions for the risks associated with the activities of banks or write-off of impairment of assets, or special treatment of assets in the calculation of capital requirements;

6) limit the risk of the bank's activities.

2. The Polish Financial Supervision Authority may order the bank to withhold disbursements from the profit or withhold the creation of new business units until the return of payment liquidity or the attainment of the standards referred to in art. 137.

3. If it is found that the bank does not implement the recommendations set out in the paragraph. 1 or the orders referred to in paragraph 1. 2, as well as when the activity of the bank is executed in violation of the law or statute, or creates a threat to the interests of the holders of the bank accounts or participants in the trading in financial instruments, the Financial Supervision Commission, after prior reminder in writing, may:

1) apply to the competent authority of the bank with the request of the appeal of the President, the Vice-President or another member of the management board of the bank directly responsible for the identified irregularities;

2) to suspend in the activities of the members of the Management Board referred to in point 1, until a resolution on the application for their appeal by the supervisory board at the next meeting is taken; the suspension in the actions is to exclude from the decision making for the bank in respect of its property rights and obligations;

3) limit the scope of activity of the bank or its organizational units;

3a) impose on the bank a financial penalty of up to 10% of the revenue shown in the last audited financial statements, and, in the absence of such a report, a financial penalty of up to 10% of the forecast revenue determined on the basis of the situation economic-financial bank, but not more than 10,000,000 PLN; the provisions of art. 141 (1) 4 and 5 shall apply mutatis mutandis;

4) revoke the permission to create the bank and decide to liquidate the bank; art. 147 para. 3 and art. 153-156 shall apply mutatis mutandis.

3a. The decision of the Financial Supervision Authority to limit the scope of the bank's activities may include conditions and terms.

4. The Polish Financial Supervision Authority may also suspend in the activities of a member of the Management Board in the case of:

1) to present him charges in criminal proceedings or in proceedings in a treasury crime case;

2) resulting in significant loss of property of the bank.

The provisions of the paragraph Paragraph 3 (2) shall apply mutatis mutandis.

5. The Polish Financial Supervision Authority refers a member of the management board to the bank in the event of a final conviction for the offence mentioned in art. 22b par. 3 point 1.

6. The limitation of the scope of the bank's activities or the revocation of the permit to create a bank may also occur in the event of a bank statement:

1. no longer fulfils the conditions laid down in the permit;

2) obtain permission on the basis of false documents, false statements or as a result of other illegal activities;

3) for a period longer than 6 months does not carry out banking activities;

4) has become a subsidiary of persons for whom it is not possible to effectively exercise the supervision of the bank by the supervision of the bank due to the provisions of the law in force at the place of their residence or establishment, or due to the the associations of those persons with other entities;

5) does not fulfil the obligations set out in Chapter 11b.

6a. The Polish Financial Supervision Authority repeals the permission to create a branch of a foreign bank if the competent supervisory authorities of the country in which the foreign bank has its seat or place of management have revoked the permit to operate banking activities by this bank.

6b. Prior to the repeal of the permit for the establishment of a branch of the foreign bank, the Polish Financial Supervision Authority will consult the competent supervisory authorities of the country where the foreign bank has its seat or place of management, if the agreement, o This is a matter of the 131 (1) 2, provides for consultation. If necessary, the Commission's Financial Supervision Authority may refrain from seeking an opinion from the Commission.

6c. The waiver of the authorisation referred to in paragraph 1 shall be repealed. 6a, the Financial Supervision Commission shall notify the competent supervisory authority of the foreign bank.

6d. The Commission shall immediately notify the competent supervisory authority of the State in which the branch of the Bank is active on the revocation of the authorisation of the establishment of the national bank.

7. The measures taken under the supervision shall not affect the contracts concluded by the bank, excluding contracts:

1) referred to in art. 92a ust. 1 and 3 and in art. 92d;

2) concluded by the national bank with entities operating in the same holding and the agreements concluded by the national bank with the entities with which it has close links, and the agreements referred to in art. 6a par. 1 and 7.

Art. 138a. [ Powers Of The Financial Supervision Commission] 1. The Polish Financial Supervision Authority may:

1) require the bank to increase its own funds;

2) impose on the bank an additional capital requirement over the value resulting from capital requirements calculated in accordance with the detailed rules laid down by the Financial Supervision Commission on the basis of the resolution referred to in art. 128 (1) 6 points 1 and 3 to 7, in particular in the case of negative findings made in the course of banking supervision activities, including those relating to the functioning of the risk management system and the internal control system or identification system, the monitoring and control of the concentration of exposures, including large exposures.

2. The Polish Financial Supervision Authority may also impose an additional capital requirement in the event of a finding of the underuse of internal capital to the extent of the risk involved in the activities of the bank and significant irregularities in the management of the risk.

Art. 138b. [ Decision to impose an additional capital requirement on the bank] 1. The Polish Financial Supervision Authority, taking part in the exercise of supervision on a consolidated basis, to apply the measures referred to in art. 138a ust. 1 point 2 and paragraph. 2, shall cooperate with the competent supervisory authorities with the supervision of operators in the same holding as the holding bank, in order to reach a common position for both the decision and the assessment of its premises.

2. The Financial Supervision Commission shall issue the decision referred to in paragraph. 1, within 4 months from the date of delivery to the competent supervisory authority supervising the entities operating in the same co-holding bank a proposal for a position containing an assessment of the risk of holding.

3. In the absence of a common position, the Polish Financial Supervision Authority may consult the European Banking Authority. The Financial Supervision Commission shall consult the European Banking Authority also at the request of the competent supervisory authorities referred to in paragraph 1. 2.

4. If, within the period referred to in paragraph 1, 2, the Financial Supervision Commission and the competent supervisory authority will not reach an agreement, the Financial Supervision Commission, taking the decision referred to in the paragraph. 1, take into account the views expressed by those authorities and justify a substantial derogation from the opinion of the competent supervisory authorities, received within the time limit referred to in paragraph 1. 2.

5. In the case of consultation referred to in paragraph 1. 3, the Financial Supervision Authority shall issue the decision referred to in paragraph. It shall take into account the opinion and give reasons for the relevant derogations from that opinion. When issuing a decision, the Financial Supervision Commission may determine, in its content, the conditions and time limits for the application of the measures referred to in Article 4. 138a ust. 1 point 2 and paragraph. 2.

5a. If, before the expiry of the period referred to in paragraph 1, the 2, the competent supervisory authority shall refer the matter to the European Banking Authority in accordance with art. 19 of Regulation No 1093/2010, the Financial Supervision Commission shall suspend the proceedings until the European Banking Authority has issued a decision in accordance with Article 4 of Regulation (EC) No 1093/2010. 19 (1) 3 of that Regulation.

6. Where the competent supervisory authority consolidates the consolidated supervision of a national bank operating in one of the holding companies referred to in Article 6. 141f ust. 1 point 2-5, asks the Financial Supervision Commission for an opinion on the application of the measure set out in Art. 138a ust. 2, the provisions of the paragraph. 1-4 shall apply mutatis mutandis.

7. The Polish Financial Supervision Authority shall perform once a year an assessment of the conditions and the effects of the decision referred to in paragraph. (1) Conditions and effects of a decision taken in the absence of a common position may also be assessed if the competent supervisory authority so requests.

Article 139. [ Obligations of banks] 1. The banks and branches and representations of foreign banks in the country are obliged:

1) notify the Financial Supervision Commission of the taking up and cessation of activities; this also applies to the taking up and cessation of activities by a branch of the national bank in the country;

2) allow authorised persons to exercise the activities specified in Art. 133 (1) 2, and in particular make available for consultation of the books, balance sheets, registers, plans, reports and other documents and allow, upon written request, to draw up copies of these documents and other information media, as well as provide explanations requested by the these persons;

3. promptly notify the Financial Supervision Commission of the measures to be taken to remedy the irregularities detected in the framework of the surveillance, and to adhere to the decisions and recommendations made.

2. When performing the supervision of the activities of a branch of a foreign bank, the provisions of Article 138 shall apply mutatis mutandis.

Article 140. [ Notifying of the taking or cessation of activities abroad] The national bank, whose branch or representation has been opened abroad, shall be obliged to notify the Financial Supervision Commission of the taking up and cessation of activities of the branch or representative.

Art. 140a. [ Consultation] 1. Before issuing a permit for the formation of a national bank, the Financial Supervision Authority shall consult the supervisory authorities of the Member State when that bank is:

1) a subsidiary of:

(a) credit institutions,

(b) the parent undertaking of the credit institution,

(c) an insurance undertaking, a reinsurance undertaking or an investment firm which has obtained appropriate authorization to carry out its activities in a Member State,

(d) a parent undertaking in respect of an insurance undertaking, a reinsurance undertaking or an investment firm which has obtained appropriate authorization to carry out its activities in a Member State;

2. controlled by the same natural or legal persons who control a credit institution, insurance undertaking, reinsurance undertaking or investment firm which have obtained the relevant authorisations for the pursuit of the activities in a Member State.

2. The Polish Financial Supervision Authority shall consult the competent supervisory authorities by assessing the persons involved in the management of another entity of the same group within the meaning of Article 3 of the Financial Supervision Authority. 3 point 7 of the Law on supplementary supervision. The Financial Supervision Commission and the other Polish competent supervisory authorities shall communicate to each other and to the other competent supervisory authorities all information necessary for the authorisation and the purposes of the ongoing supervision.

Article 140b. (repealed).

Art. 140c. [ Information] 1. The Polish Financial Supervision Authority shall inform the European Commission and the European Banking Authority of any event of loss of power or repeal of the permit for the creation of a national bank or a branch of a foreign bank.

2. In the information referred to in paragraph. 1, the Financial Supervision Authority shall state the reasons for the loss of power or the repeal of the permit to form a national bank or a branch of a foreign bank.

Article 141. [ Cash penalties for members of the bank's management board] 1. In the absence of recommendations for conducting business in violation of the provisions of law, statutes, refusal to provide explanations, the information referred to in art. 139, or in the event of failure to perform the duties referred to in Chapter 11b, the Financial Supervision Commission may impose on the members of the Management Board of the bank a pecuniary penalty up to three times the gross monthly remuneration of that person, calculated on the basis of salaries for the last 3 months before the imposition of the penalty.

2. The penalty may not be imposed if from obtaining by bank supervision the messages of the one referred to in the paragraph. 1 more than 6 months have elapsed, or since more than 2 years have elapsed since the date of this act.

3. The measurement of the monetary penalty shall not prevent the application of the other measures provided for in this Chapter.

4. The Financial Supervision Commission shall pay the sums recovered from the penalty payments to the Bank Guarantee Fund.

5. The Kara referred to in the mouth. 1, shall be subject to enforcement in the procedure of enforcement proceedings in the administration.

Chapter 11a

Supervision of branches of credit institutions

Article 141a. [ Consolidated Supervision] 1. In the case where a credit institution conducting activities in the territory of the Republic of Poland through a branch or in a cross-border activity does not comply with the provisions of Polish law, the Polish Financial Supervision Authority shall:

1) calls, in writing, that the institution is to comply with the provisions of Polish law and sets its due date for the removal of the irregularities found;

2. after the expiry of the time limit referred to in point 1, it shall inform the competent supervisory authority of the host country of the irregularity found.

2. Where, despite the application of measures by the competent supervisory authorities of the home country, the branch of the credit institution is still not complying with the provisions of the Polish law and in the event of the inadequacy of these measures in the infringement the law or the impossibility to apply them within the territory of the Republic of Poland, the Financial Supervision Commission may apply the measures specified in Art. 138 para. 3 points 1 and 3 and art. 141, and in terms of liquidity-in art. 138 para. 1 point 1 and paragraph. 2. The Financial Supervision Commission shall inform the European Commission and the European Banking Authority of these measures.

2a. In the case where a credit institution conducting activities in the territory of the Republic of Poland through a branch does not comply with the provisions of the sections II or III of the Act of 19 August 2011. o Payment Services, Financial Supervision Commission:

1. Calls, in writing, that the institution is to comply with those provisions and set an appropriate time limit for the removal of the irregularities found;

2. after the expiry of the time limit referred to in point 1, the measures referred to in Article 1 may be applied mutatis mutandis. 138 para. In accordance with Article 3 (3), (3), (3) and (3a), it shall inform the supervisory authorities of the home Member State of the irregularity and the measures taken by the supervisory authorities concerned

3. In an emergency, prior to the application of the procedures referred to in paragraph. 1 and 2, the Financial Supervision Commission, with a view to the protection of depositors ' interests, may, without the need for prior written reminder, accordingly apply the measures referred to in art. 138 para. 3 points 1, 3 and 3a. The Financial Supervision Commission shall immediately inform the European Commission and the European Banking Authority of the application of these measures.

3a. In the cases referred to in paragraph 1. 2 and 3, the Financial Supervision Authority shall inform the competent supervisory authority of the home country of the branches of the credit institution of the supervisory measures.

4. To the decision of the Polish Financial Supervision Authority issued in paragraph mode. Articles 2, 2a and 3 of the Article 127 § 3 of the Code of Administrative Procedure does not apply.

5. From the decision of the Financial Supervision Commission, referred to in paragraph. 2, 2a and 3, the credit institution may lodge a complaint with the administrative court, within 7 days from the date of its service.

Article 141b. [ Proceedings for a breach of the law] 1. The Polish Financial Supervision Authority, after receiving from the competent supervisory authority of the host State, that the national bank carrying out activities in its territory through a branch or in a cross-border activity violates the State in force in the State (4) The provisions of Article 4 (1) (a) of the Rules of Regulation may apply to the 138 para. 3.

2. To the decision of the Polish Financial Supervision Authority issued on the basis of the paragraph. Article 1 (1) 127 § 3 of the Code of Administrative Procedure does not apply.

3. The decision of the Committee on Financial Supervision, issued on the basis of the paragraph. 1, the national bank may appeal to the administrative court, within 7 days from the date of its service.

Art. 141c. [ Supervision of the activities of a credit institution] 1. Supervision of the activity of a credit institution conducting activity in the territory of the Republic of Poland through a branch or within the framework of cross-border activity shall exercise, subject to the paragraph. 2, art. 42c (c) 1 and Art. 141a (1) 2, the competent supervisory authority of the home country.

2. The Polish Financial Supervision Authority shall be obliged to supervising the branches of credit institutions in respect of compliance with the obligation laid down in Art. 8.

3. Supervision of the activity of a national bank, conducting business in the territory of the host State through a branch or within the framework of cross-border activity, shall be exercised by the Polish Financial Supervision Authority.

Art. 141d. [ Control Actions] 1. The employees of the Office of the Financial Supervision Authority shall perform the control activities in branches of credit institutions, within the scope specified in art. 42c (c) 1 and Art. 141c par. On the basis of the authorisation referred to in paragraph 2, the Commission shall, on the basis of the authorisation referred to in paragraph 2.

(2) The competent supervisory authorities of the home country may carry out the inspection activities in the branch referred to in paragraph 2. 1, either on its own or through persons authorised by them, after prior notification to the Financial Supervision Commission of the date and scope of the inspection carried out.

Art. 141e. [ Exchange of information] 1. The Polish Financial Supervision Authority and the competent supervisory authority of the parent country of a credit institution operating on the territory of the Republic of Poland through a branch or within the framework of cross-border activities shall transfer to each other the information necessary for the monitoring of the liquidity and solvency of those institutions, as well as information relating in particular to:

1) the management and ownership structure of credit institutions;

2) the rules for the guarantee of deposits;

(3) concentration of exposures;

4. the accounting rules;

(5) the administrative procedures applicable;

6) the internal control system;

7) the mode and principles of carrying out the control activities;

(8) the measures taken under supervision.

2. The Polish Financial Supervision Authority and the competent supervisory authority of the host State in whose territory the national bank operates shall inform each other of the information referred to in paragraph 1. 1.

3. The mutual communication of the information referred to in paragraph. 1 and 2, may also take place on the basis of an agreement concluded by the Financial Supervision Commission with the competent supervisory authorities.

Chapter 11b

Consolidated supervision

Art. 141f. [ Consolidated Supervision] 1. The consolidated supervision shall be subject to the national bank, which shall operate in the holding company:

(1) the national banking system;

2. foreign banking;

3) financial;

4) mixed;

5) hybrid.

2. The supervision of the bank of supervision on a consolidated basis does not preclude the application of the relevant provisions of the Act governing the activities of the bank as a subject subject to individual supervision.

3. The Polish Financial Supervision Authority may conclude with the competent supervisory authorities of other States agreements setting out the scope and mode of cooperation when exercising supervision on a consolidated basis over the banks operating in the holding companies referred to in paragraph. 1, the supervision of the relevant branches of the national banks and the relevant branches of credit institutions, and specifying the scope and mode of operation of the colleges referred to in paragraph 1. 18. The Polish Financial Supervision Authority informs the European Banking Authority of the conclusion and the content of such agreements. The provisions of Article 4 131 (1) Points 2 and 3 shall apply mutatis mutandis.

(3a) In order to ensure the effectiveness of supervision on a consolidated basis, the Financial Supervision Authority may, by virtue of the agreements referred to in paragraph 1, be subject to the 3, and taking into account art. 28 of Regulation No 1093/2010, to delegate its tasks to the competent supervisory authority of another State or to assume the tasks of the competent supervisory authority of another State, so that the supervisory authority exercising the supervision of the parent undertaking can effectively exercise the responsibility of the supervisory authority of another State. perform supervision tasks on a consolidated basis over a subsidiary. Such agreements shall specify in particular:

1) the scope of delegated tasks;

2) scope of application to delegated tasks of the provisions of Polish law and the law of a member state;

3) the obligation of the competent supervisory authority of another State to inform the Financial Supervision Commission of the supervisory activities undertaken and of their consequences;

4) the conditions and mode of changing the scope and the cancellation of delegation of tasks.

(b) The revocation of the delegation of tasks shall take place in particular in the event of a change in the facts as a result of which the entity referred to in the agreement referred to in paragraph 1 3a shall cease to be a subsidiary of the parent undertaking over which the competent supervisory authority exercises supervision.

3c. The agreements referred to in paragraph 1. 3a, they may also lay down rules for the joint exercise of the tasks of the Financial Supervision Commission and the competent supervisory authority.

3d. Based on the agreements referred to in paragraph. 3a, the Financial Supervision Authority may accept only those tasks of the competent supervisory authority that are consistent with the objectives and the supervisory tasks set out in the Act.

3e. Before the conclusion of the agreement referred to in paragraph 1. 3a, the Financial Supervision Authority shall provide the subsidiary concerned with the information on:

1. the intention of concluding an agreement,

2) the proposed content of the agreement,

3) the competence of the competent supervisory authority in terms of the tasks to be delegated to that authority,

(4) review procedures from the decisions of the competent supervisory authority

-enabling this entity to express its position.

3f. The Financial Supervision Commission shall include the agreement referred to in paragraph 1. 3a, on its website as soon as it is concluded, with an indication of the entity referred to in that agreement.

3g. If the competent supervisory authority refuses to conclude the agreement referred to in paragraph 1. 3, or in spite of its conclusion, does not apply to its provisions, including does not give within the prescribed period of information the information requested by the Financial Supervision Commission, or refuses to grant such information, the Financial Supervision Commission may notify the European Banking Authority thereof. The Committee on Financial Supervision may also notify the European Banking Authority of the failure of the competent supervisory authority to provide information on the appeals procedures referred to in paragraph 1. Article 3e, point 4.

3h. If the execution of a decision or another resolution of the competent supervisory authority could threaten the prudent and stable management of the bank, the Financial Supervision Commission may terminate the agreement referred to in paragraph. 3a, and suspends the execution of the decision or any other decision.

4. In the absence of the agreement referred to in paragraph. 3, the Financial Supervision Commission and the competent supervisory authorities of credit institutions in the framework of cooperation shall, in particular, provide the information necessary for the exercise of supervision on a consolidated basis, supervision of the relevant branches of national banks and the relevant branches of credit institutions and shall take the measures referred to in Article 4. 138a and 138b, subject to the conditions laid down in the Article. 131 (1) 3 points 2 and 3.

5. Where a national bank is included in a financial conglomerate, the parent entity of which is the parent non-regulated entity within the meaning of the Law on supplementary supervision, the provisions of the supplementary supervision act shall apply.

6. Consolidated supervision in the event that:

1. the primary parent undertaking in the holding shall be the parent institution in a Member State or an EU parent institution shall exercise the supervisory authority which granted the authorisation to carry out the activities of that institution;

2. the parent undertaking of the bank is the parent undertaking in the financial holding in the Member State, the parent mixed financial holding company in the Member State, the Union parent undertaking in the financial holding company, or the Union's parent mixed financial holding company, shall be exercised by the Financial Supervision Authority;

(3) the parent undertaking of the credit institution is the parent undertaking in the financial holding in the Member State, the parent mixed financial holding company in the Member State, the parent undertaking in the holding of holding company the financial or EU parent mixed financial holding company shall exercise the supervisory authority which granted the authorisation to operate the credit institution;

(4) the EU parent financial holding company, the EU parent mixed financial holding company, the parent undertaking in the financial holding in the Member State or the parent financial holding company mixed in a Member State is the parent undertaking of a credit institution operating on the basis of an authorisation granted in a Member State, shall exercise the supervisory authority which authorised the activities of the institution. credit, from the country in which the EU parent is established the financial holding company, the EU parent mixed financial holding company, the parent undertaking in the financial holding in the Member State or the parent mixed financial holding company in the Member State;

5. EU parent financial holding company, EU parent mixed financial holding company, parent undertaking in financial holding in a Member State with its registered office in the territory of the Republic of Poland or dominant a financial holding company with a mixed activity in a Member State established in the territory of the Republic of Poland is a parent entity of a national bank or a credit institution-the Financial Supervision Authority is exercised;

(6) financial institutions with offices in different Member States or dominant non-regulated entities within the meaning of the Article. 3 point 5 of the Supplementary Supervision Act with the seats in the territory of the various Member States shall be the parent undertakings of a bank or a credit institution operating on the basis of authorisations granted in the Member States in which they have the seat of those financial institutions or the parent non-regulated entities shall exercise the supervisory authority which granted the authorisation to operate the bank or credit institution which has the highest balance sheet total;

(7) a financial institution or a dominant non-regulated entity within the meaning of the Article. 3 point 5 of the Supplementary Supervision Act is the parent undertaking of a bank or a credit institution operating on the basis of authorisations granted in the Member States other than the country of establishment of that financial institution or of that parent undertaking an unregulated entity shall exercise the supervisory authority which authorised the bank or credit institution with the highest balance sheet total and that the bank or credit institution is considered to be a subsidiary of the Union. a parent undertaking in a financial holding company or an EU parent holding company the financial holding company with mixed activity.

(7) The competent supervisory authorities may agree that the criteria referred to in paragraph 1 shall be determined by the competent supervisory authorities. 6 points 1 to 6, do not apply if they are inappropriate because of the specificity of the bank, credit institutions or the relative importance of their activities in the Member States.

8. In the case referred to in paragraph. 7, the competent supervisory authority shall agree on which of the authorities shall exercise supervision on a consolidated basis.

9. In order to make the arrangement referred to in paragraph. 8, the competent supervisory authorities may consult the EU parent institution, the EU parent undertaking in the financial holding, the EU parent mixed financial holding company or the credit institution or the bank, which have the highest balance sheet total referred to in paragraph 1. 6.

10. The Polish Financial Supervision Authority shall inform the European Commission and the European Banking Authority of the exercise of supervision on a consolidated basis as a result of the findings referred to in paragraph 1. 8.

11. The Commission of Financial Supervision shall inform the EU parent institution, the EU parent undertaking in the financial holding, the EU parent mixed financial holding company or the bank with the highest balance sheet total referred to in paragraph 1. 6, on the exercise of supervision on a consolidated basis.

12. The Polish Financial Supervision Authority shall inform the competent supervisory authority of the home country or the competent supervisory authority exercising supervision on a consolidated basis of the credit institution of the will to cooperate in the supervision of a significant branch of the latter. a credit institution.

13. If, within 2 months of the date of receipt by the competent supervisory authority, the information referred to in paragraph 1 is received by the competent supervisory authority, 12, the Financial Supervision Commission and the competent supervisory authorities fail to reach an agreement, the Financial Supervision Commission, taking into account the opinion expressed by the competent supervisory authority, issues a decision within the next two months on recognition a branch of a credit institution as relevant, if its activity in the territory of the Republic of Poland is significant, in particular when it meets at least one of the following reasons:

1) the share of the total value of cash contributions is higher than 2%;

2) the number of customers of the branch is significant in the scale of banking activities carried out by this branch;

3) suspension or termination of the activities of the parent credit institution may pose a threat to the stability of the financial system or to the security of functioning of payment, clearing and settlement systems within the territory of the Republic of Poland Polish.

14. Issuing the decision referred to in paragraph. 13, the Financial Supervision Authority shall take into account the opinion of the competent supervisory authority and justify a significant derogation from that opinion received within 2 months from the date of receipt of the information referred to in paragraph 1. 12.

15. The decision referred to in paragraph 1. 13, receives a credit institution conducting business in the territory of the Republic of Poland through a significant branch, a significant branch of the credit institution and the competent supervisory authorities of the Member States concerned.

16. The decision referred to in paragraph. 13, shall not affect the rights and obligations of the competent supervisory authorities in relation to that branch.

16a. If, before the expiry of the period of 2 months from the date of receipt by the competent supervisory authority, the information referred to in paragraph 1. 12, the competent supervisory authority shall refer the matter to the European Banking Authority in accordance with art. 19 of Regulation No 1093/2010, the Financial Supervision Commission shall suspend the proceedings until the European Banking Authority has issued a decision in accordance with Article 4 of Regulation (EC) No 1093/2010. 19 (1) 3 of that Regulation.

17. In the event of receipt of information about the activity of a significant branch of the national bank in the territory of the host country, in particular the branch, which:

1. the share of the total value of cash contributions in the host country of the branch is higher than 2%, or

2) the number of customers of the branch is significant in the scale of the banking activities performed by this branch, or

(3) the suspension or termination of the national bank's activities may constitute a threat to the stability of the financial system or to the security of the operation of payment, clearing and settlement systems in the host country

-The Financial Supervision Commission shall, without delay, not later than 2 months from the date of receipt of the information on the operation of that branch, cooperate with the competent supervisory authorities of that State in accordance with the paragraph. 18, giving, in particular, the information necessary for the exercise of supervision by the competent supervisory authorities, subject to the conditions laid down in the Article. 131 (1) 3 points 2 and 3.

18. In order to carry out supervision on a consolidated basis over the banks operating in the holding companies referred to in paragraph. 1, the Financial Supervision Commission shall establish a colleges of competent supervisory authorities, hereinafter referred to as "colleges", and shall be chaired by the competent supervisory authorities of the host countries, ensuring cooperation with the competent supervisory authorities of the host countries. a significant branch of the national bank and the central banks, where this is necessary for the performance of the tasks laid down by law, in order to cooperate properly and to exchange the information referred to in paragraph 1. 17.

(19) The participation and action of the competent supervisory authority in the college, as well as the scope and operational modality of the colleges, shall be decided by the Financial Supervision Authority after consultation of the relevant competent authorities. the supervisory authorities. The Financial Supervision Commission shall notify the members of the college of the dates of the meetings, the main issues of the meetings, the activities to be examined or taken, and the supervisory measures applied.

20. The Polish Financial Supervision Authority, when planning and coordinating actions to take a decision in the exercise of supervision on a consolidated basis, takes into account the legitimacy of the action of the competent supervisory authorities, including the means of supervision and the practice of their application, and also its possible impact on the stability of the financial systems in the Member States concerned.

21. Subject to the obligation of professional secrecy, the Polish Financial Supervision Authority shall inform the European Banking Authority of the activities of the college, in particular of emergency situations, and provide it with information which is particularly relevant essential to the convergence of supervisory practices.

Art. 141g. [ Consolidated Financial Statements] 1. National banks operating in the holding companies referred to in art. 141f ust. 1, shall be sent to the Financial Supervision Authority without delay, but not later than 30 days after the date of approval:

1) by the General Assembly, its own consolidated financial statements together with the opinion and report of the expert auditor;

2) the financial statements of the subsidiaries of the bank and the financial statements of entities with which the bank has close links which are not included in the consolidated financial statements prepared by the bank; financial statements should be provided with the opinion and report of the statutory auditor.

2. National banks operating in the holding companies referred to in art. 141f ust. The consolidated financial statements of the original parent in the holding or the report shall also be submitted to the Financial Supervision Commission without delay, but no later than 90 days from the date of the approval, the consolidated financial statements of the original parent in the holding or the report. financial drawn up at the highest level of consolidation.

3. The documents referred to in paragraph. 1 and 2, drawn up in a foreign language, the bank transfers together with their translation into the Polish language made by the sworn translator.

4. The provisions of the paragraph. 1 and 2 shall not apply to entities which, in accordance with the accounting rules, are not required to draw up consolidated accounts.

5. The Polish Financial Supervision Authority, upon a reasoned request from the bank, may exempt the bank from the obligations set out in the paragraph. 1-3 or limit their scope.

(6) The reports for the purposes of exercising supervision on a consolidated basis shall be drawn up by applying the accounting rules accordingly.

7. If in the holding companies referred to in art. 141f ust. 1, the companies of the ancillary banking services operate, the data contained in the reports of these companies shall be included in the consolidated financial statements drawn up by the parent.

Art. 141h. [ Control Actions] 1. In order to verify the information obtained, the inspectors of the banking supervision and the persons authorised by the Financial Supervision Commission may, subject to the paragraph. 2 and 3, carry out inspection activities in entities operating in the holding companies referred to in Article 3. 141f ust. 1, as well as undertakings in support of banking services providing services to undertakings operating in those holding companies. Article Recipe 139 (1) 1 point 2 shall apply mutatis mutandis.

2. (repealed).

3. The Polish Financial Supervision Authority may request from:

(1) a parent bank in a national banking holding, or

2) established on the territory of the Republic of Poland a parent company in one of the holding companies referred to in art. 141f ust. 1 points 3-5

-order by the Commission to examine the financial position of the subsidiaries or entities with close links with the holding company in the holding company, where there are doubts in the Commission's assessment of the to the accuracy of the approved reports or when it is necessary to examine the economic relationship with another entity. The cost of the commissioned survey shall be borne by the holding bank or by the parent undertaking, as appropriate, in the holding company subject to paragraph 4.

4. If, as a result of a study commissioned by the Financial Supervision Commission, there is no doubt as to the question referred to in paragraph 1. 3, the Commission shall bear the cost of the survey

Art. 141i. [ Obligations of the parent undertaking] 1. The national bank, which is the dominant entity in the domestic banking holding and established in the territory of the Republic of Poland, the parent undertaking in the financial holding, the holding company or the hybrid holding company shall be obliged to ensure the proper functioning of internal control of the data and information required in relation to the exercise of supervision on a consolidated basis, as well as provide, at the request of the Financial Supervision Commission or persons authorised by the Financial Supervision Commission, any information and explanations relating to its activities; and the activities of the entities which are part of that holding.

2. The persons in the management board of the parent company in the financial holding should give a guarantee of the stable and prudent management of this entity.

3. The national bank operating in a mixed-holding company is required to have adequate internal control mechanisms and risk management processes, including reporting and accounting procedures for identification, metering, monitoring and controlling the transaction of the bank with the parent company in the holding company and the subsidiaries in the holding company.

4. The national bank referred to in paragraph 1 3, is obliged to inform the Financial Supervision Commission of any significant transaction within the meaning of the Law on Complementary Supervision with the entities referred to in paragraph. 3, with the exception of transactions involving exposures within the meaning of Article 71.

Art. 141j. [ Taking into account the activities of the banks in the holding companies] 1. The Polish Financial Supervision Authority will determine, by way of resolution, the scope and the manner of taking into account the actions of the banks in the holding companies referred to in art. 141f ust. 1 points 1 to 3, in the calculation of own funds, capital requirements, the solvency ratio and the limits on the concentration of exposures.

2. The Financial Supervision Commission may specify, by way of resolution, the scope and the manner of taking into account the actions of the banks in the holding companies referred to in art. 141f ust. 1 points 4 and 5, in the calculation of own funds, capital requirements, the solvency ratio and the limits on the concentration of exposures.

Art. 141k. [ Forwarding information] 1. A subject established in the territory of the Republic of Poland operating in one of the holding companies referred to in art. 141f ust. 1 points 2 and 3, in which the parent undertaking is established in the territory of a Member State, shall, at the request of the parent undertaking, provide the information necessary for the preparation of the consolidated accounts.

2. The entity established in the territory of the Republic of Poland operating in one of the holding companies referred to in art. 141f ust. 1 point 2 to 5, which is not supervised by the Polish supervisory authorities, is obliged to provide all information at the request of the competent supervisory authorities responsible for the exercise of supervision of a credit or financial institution operating in the holding company and it is compulsory to enable the authorities to verify the information provided.

3. Where a national bank operates in a foreign banking holding or in a financial holding company whose parent is established in a State other than that of the Member State and there is no agreement as referred to in Article 3, the national bank shall be included in the holding of the holding. 141f ust. 3, the Financial Supervision Authority shall check whether the national bank is subject to consolidated supervision equivalent to the rules set out in this Chapter.

4. The Financial Supervision Commission shall carry out the activities referred to in paragraph. 5, ex officio or at the request of the parent undertaking in the holding or at the request of the regulated entity, within the meaning of the Article 3 point 4 of the Law on supplementary supervision which is authorised to operate in a Member State.

5. Where, as a result of the examination procedure, it appears that the national bank referred to in Article 3 (1) (a) is not 141f ust. 3. is not subject to supervision on a consolidated basis to the principles set out in this Chapter, the provisions of this Chapter shall apply.

Art. 141l. [ Lists of holding companies] 1. The Polish Financial Supervision Authority conducts lists of holding companies:

(1) national banking;

2) foreign banking, in which the national bank operates;

(3) the financial resources in which the national bank operates;

4) hybrids.

2. The notification of the holding to the relevant list and update of the notification shall be submitted to the Polish Financial Supervision Commission:

(1) a national bank, if it is the parent undertaking in the holding company or if the original parent undertaking in the holding in which the national bank operates is established abroad;

2) a parent entity in relation to a national bank, if it is the original parent company in the holding company in which the national bank operates, and is established in the territory of the Republic of Poland.

3. The Polish Financial Supervision Authority will determine, by way of a resolution, the manner of holding the list of holding companies, the mode of filing and updating the holding declarations and the model of the holding of the holding.

4. On changes in the lists referred to in paragraph. 1, the Financial Supervision Commission shall inform the competent supervisory authorities of the Member States.

Chapter 12

Insolvency proceedings, liquidation and bankruptcy of the bank

A. Corrective procedure

Article 142. [ Corrective procedures] 1. In the event of a balance-sheet loss or a threat thereof, or a danger of insolvency or liquidity, the Management Board of the bank shall immediately inform the Financial Supervision Commission and submit its programme of proceedings. corrective, ensuring its implementation.

2. The Polish Financial Supervision Authority may designate the bank a time limit for the development of a programme of remedial proceedings referred to in paragraph. 1, and order its completion or redevelopment.

3. In the event of failure to act as referred to in paragraph 1, 1, the Financial Supervision Authority may oblige the bank to initiate remedial proceedings.

4. During the period of the bank's implementation of the programme of remedial proceedings, the profit achieved by the bank shall be earmarked in the first place to cover losses and then to increase its own funds.

Article 143. [ The repair programme is not sufficient or unreasonable] 1. If the program of the remedial proceedings is not sufficient or its implementation is not due, the Polish Financial Supervision Authority may:

1) (repealed);

2) prohibit the granting or limited provision of loans and cash loans to shareholders (members) of the bank and the members of the management board, the supervisory board and employees;

3) request the bank's board to convene an extraordinary general meeting of shareholders (general meeting) for consideration of the bank's situation, the decision to cover the balance sheet loss and the taking of other resolutions, including the increase Own funds, for a period of not more than 6 months;

4) to order the payment of certain variable components of the remuneration of persons occupying managerial positions at the bank, including for the duration of the management position in the bank, no longer than for the last 3 years.

2. The Management Board of the Bank should convene an extraordinary general meeting within 14 days, and if it did not do so, an extraordinary general meeting may be convened by the Financial Supervision Commission. The costs of convening and holding a general meeting shall be borne by the bank.

2a. The abrusions in the general meeting shall not last for a total of more than 14 days.

3. The prohibitions and the request referred to in paragraph. 1, shall not be subject to challenge.

Article 144. [ The curator overseeing the implementation of the remedial programme] 1. The Polish Financial Supervision Authority, subject to Art. 20a of the law referred to in art. 105 (1) 1 point 2 (h) may decide to establish a curator to supervise the implementation of the remediating programme by the bank.

2. The rescuer shall have the right to participate in the meetings of the organs of the bank and the right to obtain any information necessary for the performance of his functions.

3. The Kurator shall have the right to object to the resolution and decision of the management board and the supervisory board of the bank. A declaration of intention to raise objections raised at the meeting of the supervisory board or the board shall suspend the execution of a resolution or decision.

3a. Opposition referred to in paragraph 1. 3, the curator contributes to the competent economic court within 14 days from the date of the posture of the resolution or decision of the Management Board or the Supervisory Board.

3b. In the absence of any objection to the court within the period referred to in paragraph. 3a, or in the case of a statement by the curator, that he will not object, the resolution or the decision referred to in the paragraph. 3, may be performed.

4. The curator may challenge the resolution of the general meeting of shareholders or the resolution of the general meeting of the cooperative bank, which violate the bank's interest. In such cases, the curator shall have the powers provided for in Article 1. 422 and Art. 424 of the Code of Commercial Companies, and in relation to cooperative banks-in art. 42 Cooperative rights.

5. From the decision to establish the curator the bank may bring a complaint to the administrative court within 7 days from the date of service of the decision. The application of the action shall not suspend the execution of the decision. Article Article 127 § 3 of the Code of Administrative Procedure does not apply.

6. The curator function may be performed by a person with qualifications and professional experience in the organization and operating rules of the bank. The curator may also be a legal person.

7. The curator shall submit to the Financial Supervision Committee quarterly reports of its activity containing an assessment of the implementation by the Management Board of the Bank of the Corrective Programme.

8. The remuneration of the curator shall be determined by the Polish Financial Supervision Authority, except that it may not be higher than the remuneration of the President of the bank in which the curator was established. Costs related to the execution of the curator function shall be charged to the bank's operating costs.

9. The Polish Financial Supervision Authority may revoke the curator supervising the execution of a remedial programme by the bank in the event of his resignation, improper performance of the function, or other reasons preventing him from due exercise of the function.

10. The right to a physical activity as a curator shall be entitled to a holiday leave of 26 working days on the basis laid down in the Act of 26 June 1974. -Labour Code (Dz. U. 1998 r. No 21, pos. 94, z późn. zm.) on the dates agreed with the Financial Supervision Commission.

11. The period of the probation of the probation function by a natural person shall be included in the working periods and other periods upon which the acquisition of the employees ' rights depends. Social insurance and health insurance rules apply to these persons, unless those persons are covered by these insurance claims from other titles.

Article 145. [ Commis-arial Board] 1. If the board of directors of the bank does not pass the program of the corrective action in accordance with art. 142 (1) 1 or when the implementation of this programme proves to be ineffective, the Financial Supervision Commission may decide to set up a board of directors for the duration of the implementation of the remedial proceedings. The establishment of the Board of Directors shall not affect the organisation and manner of the operation of the bank as a legal person, except for the amendments provided for by the Law.

2. The Board of Directors shall pass the right to take resolutions and decisions in all matters reserved in the Act and the statutes to the jurisdiction of the bank's authorities and bodies. On the date of the establishment of the Board of the Board, the Supervisory Board shall, subject to paragraph. 4, shall be suspended, the members of the management board of the bank shall be revoked from the power of the law, and the previously established procurs and powers of attorney shall expire. The powers of other organs of the bank shall be suspended for the duration of the Board of Directors.

2a. The Board of Directors may close the bank's accounts and draw up the bank's financial statements for the day appointed by the Financial Supervision Commission and adopt a resolution to cover the loss for the period ending on that date and the loss of the bank's accounts. previous years.

3. The Board of the Board shall also perform the tasks specified in the decision to establish the Management Board.

4. From the decision referred to in paragraph. 1, the supervisory board may bring a complaint to the administrative court within 7 days from the date of service of the decision. The application of the action shall not suspend the execution of the decision. Article Article 127 § 3 of the Code of Administrative Procedure does not apply.

5. The Board of Directors shall draw up and agree with the Polish Financial Supervision Authority a programme of corrective action, its implementation and at least every 3 months shall inform the Financial Supervision Commission and the Supervisory Board about the results of the implementation of the programme.

6. The establishment of the Board of the Board shall be subject to notification to the register competent for the bank.

Article 146. [ Members of the Board of Directors] 1. Members of the board of directors shall receive, where necessary, unpaid leave in the home establishment for the duration of this function.

2. The period of unpaid leave shall be included in the periods of work and the other periods upon which the acquisition of the rights of workers depends.

3. The remuneration of the members of the board of directors shall be determined by the Polish Financial Supervision Authority, except that it may not be higher than the remuneration of the members of the previous board. The costs of the administration of the Board shall be borne by the bank.

B. Liquidation, takeover of the bank

Article 147. [ Acquisition or liquidation of the bank] 1. If after 6 months from the date of the Extraordinary General Meeting convened in accordance with the procedure laid down in Art. 143 (1) 1 point 3 of the loss will exceed half of own funds, the Financial Supervision Commission may decide to:

1) acquisitions of the bank by another bank, with the consent of the acquiring bank;

2) repeal of the permit for the establishment of the bank and its liquidation;

3) a speech to the Council of Ministers for the liquidation of the bank-in the case of a state-owned bank.

2. The decision to take over the bank by another bank or to liquidate the bank the Financial Supervision Authority may also take on a different date than the one specified in the paragraph. 1 if there are circumstances which threaten the bank's insolvency or decrease the amount of the bank's own funds to such an extent that the requirements for the creation of the bank would not be met.

3. From the decision referred to in paragraph. 1 and 2, the supervisory board may bring a complaint to the administrative court within 7 days from the date of service of the decision. The lodging of a complaint does not suspend the execution of the decision, but the liquidation of the bank's assets in liquidation or the acquisition of the bank's assets by the acquiring bank cannot be initiated before the action is considered. Article Article 127 § 3 of the Code of Administrative Procedure does not apply.

Article 148. [ Takeover of the bank] 1. From the date specified in the decision of the Polish Financial Supervision Authority on the acquisition of the bank by another bank:

1) the management board of the bank, the board of directors of the acquired bank are dissolved and the powers of other of its organs, subject to art. 147 para. 3, shall be suspended;

2) the acquiring bank includes the management of the assets of the bank taken over;

3) the procurs and proxies granted by the acquired bank shall expire.

2. The acquiring bank twice announces in the letters about the nationwide scope and the Monitor of the Judicial and Economic Decision about the acquisition of the bank and the call of creditors of this bank to report claims within one month from the date of the last announcement. This obligation does not apply to creditors in the event of bank accounts. In the case of cooperative banks there is sufficient announcement in the local letter and the Cooperative Monitor.

3. In the decision referred to in paragraph. 1, the Financial Supervision Commission shall determine the day of the bank's takeover by another bank.

Article 149. [ Bank's balance sheet] 1. The takeover of the bank shall be based on the balance sheet drawn up at the acquisition date. On that date, the acquiring bank shall enter into all the rights and obligations of the acquired bank.

2. The balance sheet referred to in paragraph 2. 1, it should be examined by an auditor authorized to audit the financial statements of the banks.

3. The acquiring bank will report to the relevant court register the acquisition of the bank together with the request for removal from the register of the acquirer and the financial statements examined by the auditor.

Article 150. [ The purpose of the bank's own funds taken over] The bank's own funds are earmarked to cover the bank's balance sheet losses.

Article 151. [ Settlements with shareholders or members of the bank hijacked bank] After the bank's creditors have been satisfied or safeguarding the bank's creditors, the acquiring bank shall pay its shares to shareholders or members of the bank taken over from its remaining assets in proportion to the capital previously held or to the shareholders of that bank. the own shares and, in the case of a cooperative bank, it is granted to the members of the bank the right to the equity fund of the relevant value. The issue of own shares shall take place at a fixed issue price, not higher than the book value of the shares, and the value of the right to the equity fund shall be determined taking into account the last approved balance sheet of the acquiring bank.

Article 152. [ The decision to change the content of the liabilities of the bank taken over] The acquiring bank may request a change in the content of the liability incurred by the legal act of the bank taken over in the period of the year prior to the takeover, if, as a result of that operation, the other party has obtained a claim on conditions more favourable than the applicable then the bank acquisitions. The competent local authority of the acquiring bank is recognised Provincial court the economic court.

Article 153. [ Bank Likwidator] 1. The Management Board over the assets of the liquidated bank shall include the liquidator appointed by the Polish Financial Supervision Authority, on which the rights reserved in the Act and the Statute for the Bank's bodies are transferred. The liquidator represents the bank in liquidation in court and outside the court.

2. On the date of taking over the management of the assets of the liquidated bank by the liquidator:

1) the management board of the bank undergoes dissolution and the mandates of its members are subject to the expiry of the law;

2) the powers of the supervisory board, subject to art. 147 para. 3, they shall be suspended.

Article 154. [ Liquidation of the bank] The liquidation of the bank shall be carried out in accordance with the rules in force at the winding-up of commercial companies, cooperatives or in accordance with the provisions referred to in art. 14, except that:

1. in the liquidation period, no dividend or interest rate shall be paid;

(2) the opening balance sheet, the winding-up programme and the liquidation account shall be approved by the Financial Supervision Commission;

3) the liquidator, not less than once a month, shall submit to the Financial Supervision Commission and the creditors of the report on liquidation;

4) the division between the shareholders (members) of the assets remaining after the veil and the security of creditors cannot be made before the end of the year from the date of the last announcement of the opening of liquidation.

Article 155. [ Liquidation report] 1. The Ljubledist shall have the right to request a change of the content of the undertaking referred to in art. 152. It may deduct from the bank's receivables the bank's debt resulting from the bank account also when its repayment dates have not yet taken place.

2. Upon completion of liquidation, the liquidator shall draw up a liquidation report and submit them to the Financial Supervision Commission and to the register court with a request to delete the bank from the register.

Article 156. [ Detailed conditions and mode of acquisition or liquidation of the bank, establishment of the liquidator] The detailed terms and conditions for the acquisition or liquidation of the bank and the appointment of the liquidator shall determine the decision referred to in Article 4. 147 para. 1.

Art. 156a. [ Voluntary liquidation of the bank] 1. The General Assembly may decide to voluntarily liquidate the bank for reasons other than those specified in Art. 147. Before commencing voluntary liquidation, the bank shall be obliged to inform the Financial Supervision Commission of the decision taken and submit it for approval to the liquidation programme. Article Recipe Point 3 of paragraph 154 shall apply mutatis mutandis.

2. Voluntary liquidation of the bank does not exclude the possibility for the Polish Financial Supervision Authority to undertake the activities referred to in art. 142-145, art. 147 and art. 157.

Article 157. [ Cancellation of the liquidator] The Financial Supervision Commission may decide to revoke the liquidator designated by the bank if it carries out the liquidation of the bank in such a way as to endanger the security of the cash collected on the bank accounts. The Financial Supervision Commission will then set up a new liquidator.

Article 157a. [ Actions taken against the branch of the national bank] In the event of a branch of a national bank having a branch in the territory of another Member State, the activities referred to in Article 4 (2) of the Regulation. 142-145, art. 147 and art. 157, the Financial Supervision Commission shall immediately inform the competent supervisory authority of the host country.

Article 157b. [ Actions taken against the foreign bank branch] In the event of a branch of the foreign bank, the activities referred to in Article 4 142-145, art. 147 and art. 157, the Financial Supervision Authority shall immediately notify the competent supervisory authority of the host State in whose territory another branch of that bank is situated.

Art. 157c. [ Liquidation of the credit institution] 1. In the event that the competent supervisory authorities of the Member State take action aimed at the liquidation of a credit institution conducting activity in the territory of the Republic of Poland, the Financial Supervision Commission shall recognise the measures taken by these authorities, on a reciprocal basis.

2. Paragraph Recipe 1 shall not exclude the powers of the Financial Supervision Authority in relation to a branch of a credit institution in the cases referred to in Article 3. 141a. Article Recipe 141a (1) 3a shall apply mutatis mutandis.

Art. 157d. [ Authenticated copy of the decision] 1. The liquidator or other person appointed by the competent supervisory authority of the Member State to carry out the liquidation of the credit institution, intending to perform operations on the territory of the Republic of Poland in relation to the branch of that to the institution, it is obligatory to present to the Polish Financial Supervision Authority a certified copy of the decision or decision to establish it together with an authenticated translation into Polish.

2. The persons referred to in paragraph. 1, shall be entitled to take action only within the scope set out in the act of their appointment. Where such an act does not contain any special provisions in this regard, the Financial Supervision Commission shall each time determine, by decision, the scope of the activities it will take on the territory of the Republic of Poland. In any event, this person shall be required to disclose in the relevant records kept for a branch of credit institutions the fact that liquidation is initiated and its effects.

Art. 157e. [ Consequences of the opening of reorganisation measures] The effects of the opening of reorganisation measures in relation to a branch of a credit institution or its liquidation shall be assessed in accordance with the rules in force in the home country, provided that the reciprocity is in force, with the following Reservations:

1. contracts of employment and labour relations shall be governed by the law of the Member State to which the contract has been concluded;

2) contracts granting the right to acquire or use immovable property shall be assessed according to the law of the Member State in which the property is situated, with that also that the law shall prejudge the recognition of the property in question as immovable property;

(3) rights relating to immovable property, ships or aircraft shall be governed by the law of the Member State in which the relevant register is kept.

C. Bankruptcy of the bank

Article 158. [ Suspension of the bank's activities and the establishment of the board of directors] If, according to the balance sheet drawn up at the end of the reporting period, the assets of the bank are not sufficient to satisfy its obligations, the management board or the liquidator shall immediately inform the Financial Supervision Commission, which shall immediately inform the Commission of the financial supervision of the bank. decide on the suspension of the bank's activities and the establishment of the Board of Directors, if it has not been established before, and at the same time decide to take it over by another bank, with the consent of the acquiring bank, or occurs to the competent court with the application for the declaration of bankruptcy. The decisions taken by the Financial Supervision Commission shall be notified to the Bank Guarantee Fund.

2. If, for reasons connected directly with the financial situation of the bank, it does not regulate its obligations in respect of the payment of the funds referred to in Art. 2 item 2 of the Act on the Bank Guarantee Fund, to depositors within the meaning of art. 2 point 1 of this Act, the Financial Supervision Commission, within 5 working days from the date of the determination of this circumstance, shall decide to suspend the bank's activities and establish the Board of the Board, unless it has been established previously, and at the same time, decide whether or not to take it by another bank, with the consent of the acquiring bank, or to the competent court with a request for bankruptcy. The decisions taken by the Financial Supervision Commission shall be notified to the Bank Guarantee Fund.

3. In the case of a cooperative bank, the notification referred to in paragraph. 1, may also be submitted by the Management Board of the Association Bank, which has signed an association agreement with a given cooperative bank.

4. The decision to suspend the activities of the bank and the establishment of the board of directors and the acquisition of the bank or the occurrence of a bankruptcy petition, the Polish Financial Supervision Authority may also take on its own initiative, if it does not occur the notification referred to in paragraph 1.

5. The decisions referred to in paragraph 1 1 and 2, are made public by an advertisement in a journal of a nationwide range and in the Monitor of the Judicial and Economic Area.

6. The decisions referred to in paragraph 1 1 and 2, they are not subject to challenge.

7. The Polish Financial Supervision Authority in accordance with art. 146 (1) 3 shall determine the amount of the remuneration to be paid to the commissioned board. To the costs of the activities of the Board of the Board of Art. 146 (1) 3 shall apply mutatis mutandis.

8. The provisions of the paragraph. 1-5 shall apply mutatis mutandis to the branch of the foreign bank which acceded to the Polish guarantee system, with that of:

1. the notification referred to in paragraph 1. 1, the director of the branch shall be carried out;

2) in relation to the branch shall not take the decision to take over by another bank with the consent of the acquiring bank.

Article 159. [ Effects of the suspension of the bank's activities] 1. During the period of suspension of activity bank:

1) does not regulate its obligations, with the exception of related to the pontilation of reasonable costs of current business, and does not conduct banking activities beyond debt collection and execution of transfer orders to the accounts of tax authorities from the title claims referred to in Article 55 par. 1 of the Act of 19 August 2011. for payment services;

2. it shall not pay funds derisating from the balance sheet surplus or the interest rate of the contributions.

2. During the period of suspension against the bank, enforcement proceedings may not be initiated and the previously initiated shall be suspended. The suspension is also executed from bank accounts held by this bank.

3. The conditions and scope of the bank's activities during the period of suspension of operations shall determine the decisions referred to in art. 158 (1) 1 and 2.

Article 160. (repealed).

Article 161. (repealed).

Article 162. (repealed).

Article 163. (repealed).

Article 164. (repealed).

Article 165. (repealed).

Article 166. (repealed).

Article 167. (repealed).

Article 168. (repealed).

Article 169. [ Cash and salaries of members of the authorities] In connection with the liquidation of the art mode. 138 and art. In the event of a bank transfer or bankruptcy, the powers of the bank's members regarding the payment of payments and payments for the period after the termination of the employment relationship are lost, or the bank's bankruptcy.

Chapter 13

Civil and criminal liability

Article 170. [ Executing banking activities without permission] 1. Execution of bank activities without authorisation shall not constitute grounds for collection of interest, commission, fees or other remuneration.

2. Who has received the interest rate, commission, fee or other remuneration for the activities referred to in the paragraph. 1, is obliged to return them.

Article 171. [ Violation of provisions of the Act] 1. Who, without authorisation, carries out activities consisting in the collection of funds of other natural persons, legal entities or organizational units without legal personality, for the purpose of granting loans, monetary loans or burdens the risk of these measures in a different way, subject to a fine of up to 5 000 000 zlotys and a custodial sentence of up to 3 years.

2. The same penalty shall be subject to who, when pursuing a gainful activity contrary to the conditions laid down by the Act, uses in the name of a non-bank business unit or for the determination of its activity or advertising of the words "bank" or "cash".

3. The same penalty shall also be subject to the one who permits the act referred to in the paragraph. 1 or 2 acting in the name of, or in the interest of, a legal person or an organizational unit without legal personality.

4. Who, being obliged to give the authorized body of information concerning the bank and clients of the bank to the extent determined by the law, gives untrue or withering the real data, shall be subject to the fine and penalty of imprisonment up to the years 3.

5. Who, being obliged to preserve banking secrecy, shall disclose or use the information constituting the bank secret, contrary to the authorization specified in the Act, shall be subject to a fine of up to 1 000 000 zlotys and punishments of imprisonment up to the years 3.

6. Who, being responsible for ensuring the proper functioning of the internal control of data and information required in connection with the exercise of supervision on a consolidated basis or for providing information and explanations on request of the Financial Supervision Commission, does not perform any obligation on it or performs it unconsciously or indeterminately, is subject to a fine of up to 1 000 000 PLN or a custodial sentence of up to 3 years.

7. Who, being responsible for drawing up or submitting to the Financial Supervision Commission of the consolidated financial statements or other reports related to supervision on a consolidated basis, does not perform the obligation on it or performs it Unreliable or untimely, subject to a fine of up to 500 000 PLN or a custodial sentence of up to the years 2.

Chapter 14

Transitional provisions, amendments to the provisions in force and final provisions

Article 172. [ Obligation to increase the amount of own funds] 1. (bypassed).

2. (bypassed).

3. The cooperative bank, which has an association with the association bank, is obliged to obtain an increase of the amount of own funds to a level not lower than:

1) the equivalent of EUR 300 000-up to 31 December 2001, calculated in gold at the average rate resulting from the table of courses announced by the National Bank of Poland, in force at the end of the year preceding the year of achievement of the required threshold capital;

2) the equivalent of 500 000 euro-up to 31 December 2005, calculated in gold at the average rate resulting from the table of courses announced by the National Bank of Poland, in force at the end of the year preceding the year of achievement of the required threshold capital;

3) the equivalent of 1 000 000 EUR-until 31 December 2010, calculated in PLN according to the average rate resulting from the table of courses announced by the National Bank of Poland, in force at the end of the year preceding the year of achievement of the required threshold capital.

Article 173. (bypassed).

Article 174. (bypassed).

Article 175. (bypassed).

Article 176. [ Impact on ongoing remedial, liquidation and bankruptcy proceedings] The remedial, liquidation and bankruptcy proceedings initiated prior to the entry into force of the Act have been pending from that date according to the provisions of the Act.

Article 177. [ Banks acting on the date of entry into force of the Act] 1. Banks acting on the date of entry into force of the Act are banks within the meaning of this Act and retain the powers and obligations to the extent that they are not contradicting it.

2. Banks with the participation of foreign capital, acting on the date of entry into force of the Act, become banks with the participation of foreign persons.

3. Incurring in foreign currencies the share capital of banks created by foreign persons or with the participation of foreign persons shall be converted into gold, according to the average rate announced by the National Bank of Poland on the date of entry into force of the Act.

Article 178. [ Bank operating without authorisation] 1. Bank, which started business before the date of entry into force of the Act referred to in art. 193, and does not hold the permission of the President of the National Bank of Poland to create a bank, is authorized to perform the banking activities set out in the statutes in so far as they do not oppose the provisions of the Act.

1a. The Bank referred to in paragraph 1. 1, may exercise in the territory of the State of the host banking activity as established by the statutes in so far as they do not oppose the provisions of the Act.

2. In relation to the bank referred to in paragraph. 1, instead of provided for in art. 138 para. Article 3 (4) and (4) of the 6 repeal of the authorisation to create a bank shall apply a decision prohibiting the execution of certain or all banking activities.

Article 179. [ Exclusion of certain statutory restrictions] The restrictions on the acquisition and transfer of shares and contributions to another legal person, including the acquisition by the banks of shares and the conversion of claims to assets in the debtor's assets, are not in force in the course of the procedure laid down in the Act. the law of 3 February 1993. the financial restructuring of companies and banks and the change of certain laws (Dz. U. Nr 18, pos. 82, z Late. zm.).

Article 180. (bypassed).

Article 181. [ Impact on concluded contracts] For contracts concluded by banks, including bank guarantees and guarantees granted prior to the entry into force of the Act, the existing provisions shall apply, subject to the provisions of Article 4 (1) of the Treaty on the European Community, and 152.

Article 182. (bypassed).

Article 183. [ Evidence of bearer shares in connection with savings contracts] 1. The bearer's evidence issued in connection with the savings contracts concluded before the entry into force of the Act shall retain the power until the expiration of those contracts, unless the parties have decided earlier to convert them into an account agreement The savings referred to in Article 4 50 par. 2.

2. Contracts in connection with which before 1 January 1998 Evidence of bearer evidence has been issued that has not been transformed into the thought of the mouth. 1, they shall expire on 1 January 2006, except that the monies due under those contracts shall be reimbursed to the holders of such evidence at interest, from 1 January 2006. at the rate of interest of cash collected on savings accounts held at the bank on the basis of contracts concluded for an indeterminate period of time.

Article 184. (repealed).

Article 185. (repealed).

Article 186. (bypassed).

Article 187. (bypassed).

Article 188. (bypassed).

Article 189. (bypassed).

Article 190. (bypassed).

Article 191. (bypassed).

Article 192. (bypassed).

Article 193. [ Repealed provisions] The Law of 31 January 1989 shall be repealed. -Banking law (Dz. U. of 1992. Nr 72, pos. 359, of 1993 Nr 6, pos. 29, Nr 28, pos. 127 and No. 134, pos. 646, 1994 Nr 80, pos. 369 and No. 121, pos. 591, 1995 No 4, pos. 18 and No. 133, pos. 654, of 1996 Nr 10, pos. 61, Nr 75, poz. 357, No 90, pos. 406, No. 106, pos. 496 and Nr 149, pos. 703 and 1997 No. 23, pos. 117, Nr 24, pos. 119, No 71, pos. 449, Nr. 88, pos. 554, Nr 121, poz. 769 i 770 i Nr 137, poz. 926), with the exception of the provisions of art. 121 (1) 2 and 3.

Article 194. [ Entry into force] The Act shall enter into force on 1 January 1998.

¹⁾ This Act shall apply to the implementation of the following Directives of the European Communities as regards its implementation:

(1) Directive 97 /5/EC of 27 January 1997 (1) on cross-border credit transfers (Dz. Urz. EC L 43, 14.02.1997);

(2) Directive 98 /26/EEC of 19 May 1998 (OJ 1998 L 99, p. on the closure of accounts in payment and securities settlement systems (Dz. Urz. EC L 166 of 11.06.1998);

(3) Directive 1999 /93/EC of 13 December 1999. on a Community framework for electronic signatures (Dz. Urz. EC L 13 of 19.01.2000);

4) Directive 2000 /12/EC of 10 March 2000. relating to the taking up and pursuit of the business of credit institutions (Dz. Urz. EC L 126 of 26.05.2000);

(5) Directive 2000 /28/EC of 18 September 2000 (1). amending Directive 2000 /12/EC relating to the taking up and pursuit of the business of credit institutions (Dz. Urz. EC L 275, 27.10.2000);

(6) Directive 2000 /46/EC of 18 September 2000 (OJ 2000 L, p. on the taking up and pursuit of the business of electronic money institutions and the prudential supervision of their activities (Dz. Urz. EC L 275, 27.10.2000);

(7) Directive 2001 /24/EC of 4 April 2001 (OJ 2001 L 73, p. on the reorganisation and winding-up of credit institutions (Dz. Urz. EC L 125 of 05.05.2001).

The data relating to the publication of the acts of the European Union, as set out in this Act, on the date of accession by the Republic of Poland of membership of the European Union, shall refer to the publication of those acts in the Official Journal of the European Union. Special

[ 1] Currently: the Minister responsible for the Treasury, according to art. 4 par. 1, art. 5 points 19 and art. 25 of the Act of 4 September 1997. about the departments of government administration (Journal of Laws of 2007 Nr 65, poz. 437; ost. zm.: Dz.U. z 2012 r. items 951), which entered into force on 1 April 1999.

[ 2] Currently: National Court Register, according to art. 86 of the Act of 20 August 1997. o National Court Register (Journal of Laws of 2007 Nr 168, poz. 1186; ost. zm.: Dz.U. z 2011 r. No. 232, item. 1378), which entered into force on 1 January 2001.

[ 3] Currently, the Minister responsible for financial institutions, in accordance with art. 4 par. 1, art. 5 points 7 and art. 12 of the Act of 4 September 1997. about the departments of government administration (Journal of Laws of 2007 Nr 65, poz. 437; ost. zm.: Dz.U. z 2012 r. items 951), which entered into force on 1 April 1999.

[ 4] Article 51, in the version set by the Article. 4 point 1 of the Act of 11 July 2014. on the amendment of the Act-Geological and Mining Law and some other laws (Journal of Laws pos. 1133). The amendment came into force on 1 January 2015.

[ 5] Art. 51c added by art. 4 point 2 of the Act of 11 July 2014. on the amendment of the Act-Geological and Mining Law and some other laws (Journal of Laws pos. 1133). The amendment came into force on 1 January 2015.

[ 6] On the basis of art. 4 of the Act of 29 July 2011. on the amendment of the Act-Banking law and certain other laws (Journal of Laws No. 165, item. 984) in the case of loans or cash borrowings borrowed by a borrower or borrower before entering into force in/in the Act (i.e. 26 August 2011) art. 69 par. 2 point 4a applies to those loans or loans that have not been fully repaid to that part of the loan or loan which has remained to be repaid. In this respect, the bank shall make a free change to the loan agreement or loan agreement.

[ 7] On the basis of art. 4 of the Act of 29 July 2011. on the amendment of the Act-Banking law and certain other laws (Journal of Laws No. 165, item. 984) in the case of loans or cash borrowings borrowed by a borrower or borrower before entering into force in/in the Act (i.e. 26 August 2011) art. The 75b is applicable to those loans or loans that have not been fully repaid to that part of the loan or loan which has remained to be repaid. In this respect, the bank shall make a free change to the loan agreement or loan agreement.

[ 8] On the basis of the judgment of the Constitutional Court of 15 March 2011. (Journal of Laws No 72, pos. 388) Art. 95 (1) 1 in the version given by the Law of 26 June 2009. amending the Act on perpetual and hipotary books and certain other laws (Journal of Laws No. 131, item. 1075), in connection with art. 244 § 1 and art. 252 of the Act of 17 November 1964. -Code of Civil Procedure (Journal of Laws No. 43, item. 296, as amended), in the part in which it gives the legal power of the document to the official accounting books and to the banks of the bank's accounts with regard to the rights and obligations arising from the banking activities in the civil proceedings carried out against the consumer, is not compatible with art. 2, art. 32 par. First sentence and Article 1 76 Constitution of the Republic of Poland and it is not inconsistent with art. 20 of the Constitution of Poland

[ 9] Currently: the district court, according to art. 4 of the Act of 18 December 1998. on the amendment of the Act-Law on the decor of the common courts (Journal of Laws No. 160, item. 1064), which entered into force on 1 January 1999.