Decree - Law 28/11/11 186 - Urgent Measures In Support Of Depositors Of Banks In The Suspension Of Payments Regime

Original Language Title: DECRETO - LEGGE 28/11/11 N.186 - Misure urgenti a sostegno dei depositanti di Banche in regime di sospensione dei pagamenti

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REPUBLIC OF SAN MARINO REPUBLIC OF SAN MARINO DECREE - LAW 186 of 28 November 2011 We the Captains Regent of the Most Serene Republic of San Marino Given the assumptions of need and urgency in art. 2, paragraph 2, point b) of the Constitutional Law 15 December 2005 n. 183 and art. 12 of the Qualified Law 15 December 2005 n. 184 and in particular: - the need, in cases of suspension of banks in receivership payments, to make it possible for ordinary customers to withdraw from their cash than is necessary to meet their basic needs and can not be postponed; - The urgent need to introduce the above-mentioned possibilities already under extraordinary administration in place; Given the decision of the No. 1 State Congress adopted in the sitting of 28 November 2011; Having regard to Article 5, paragraph 2, of the Constitutional Law no. 185/2005 and Article 9 and Article 10, paragraph 2, of the Qualified Law n.186 / 2005; Given the art.82 of the Law 165 of 17 November 2005 and in addition to what it provides; We promulgate and publish the following decree law: URGENT MEASURES IN SUPPORT OF DEPOSIT OF BANKS UNDER SUSPENSION OF PAYMENTS Art. 1 (Supplementary Provisions all'art.82 of Law 17 November 2005, n. 165) 1. Coordination of supervision, at the request of the Commissioners and the opinion of the supervisory Committee, may authorize banks in extraordinary administration that are in suspension of payments regime, under Article 82 of Law 165/2005, from continuing to withdrawal requests cash and / or payment arrangements by their depositors, within the capacity limits of the deposits related to them, in order to contribute, in the period of the suspension, to meet the essential needs of the person and the enterprise and can not be postponed. 2. The Commissioners, after consulting the Supervisory Committee, determine the availability threshold for depositors, in view of sustainability, in terms of corporate liquidity, the estimated disbursements, and in any case within a maximum of two thousand euro limit on a monthly basis for each depositor, natural or legal person, that is a census among the holders of unrestricted deposits at the bank, even as a co-holder of the relationship and regardless of the number of riconducili relationships to the same subject. 3. The Commissioners, in the presence of excess liquidity than the one committed under the preceding paragraph, may also carry out, subject to an opinion of the Supervisory Committee, payments notwithstanding the numerical limitations set forth in the preceding paragraph, the joint occurrence of the following conditions: a) the depositor is required to pay in the execution of its obligations arising from: i. an employment contract relating begin before the date of adoption of the measure of suspension of payments referred to in the first paragraph; ii. a contract or commercial agreement for the supply of goods or services entered into prior to the date of adoption of the suspension of payments referred to in the first paragraph; iii. Court order concerning maintenance obligations towards the spouse and / or children. b) the total amount of payments which were made at the request of the depositor does not exceed, as a percentage of demand deposits reporting to him, the relationship between the available liquidity of the bank and the total deposits not tied to the date of adoption of the suspension of payments. 4. Beneficiaries of the support measures referred to in this article are all depositors that are named surveyed by the bank such as savings account holders, individually or jointly with others, to demand deposits (current account or booklets), excluding : to. public administration; b. of banks and other financial companies (finance companies, trust companies, investment firms, management companies, insurance companies etc.), even in cases of deposits made for others; c. of mutual funds and other collective investment schemes; d. corporate officers of the bank and the parent company of the banking group and the participants to the capital of the bank, including deposits made by nominees; is. of depositors who have obtained from the bank, on an individual basis, rates and / or conditions and / or funding that helped to deteriorate the financial situation or have surreptitiously increased the demand deposits. 5. The Supervision Committee may authorize, in derogation of the suspension arrangement, the bank in receivership access to the payment system in order to give
implementing the provisions for payment set out in this Article. Art. 2 (Moratorium on overdue debts of customers) 1. Beneficiaries of the moratorium referred to in this article are all customers of the bank under special administration which, as a result of the suspension of payments measure taken by the Commissioners, despite having cash sums of adequate amount, in relation to deposits held or credit from the bank itself, can be found in the objective impossibility to settle its debts with the Public Enlarged Board or to the San Marino financial companies (mortgage payments / loans, lease payments, insurance premiums, etc. .), not having alternative funding sources from other financial intermediaries, of sufficient amount and immediate availability. 2. In respect of creditors "institutional" or "Professional" in the preceding paragraph, the subjects falling under the provision of paragraph 1, are entitled, under this Decree Law, an extension of the expiry of their term debt corresponding to the entire duration of the suspension of payments regime, without application of penalties, termination clauses, default interest, surcharges, nell'utenza interruption of public services and energy supplies, or other measures of nature or sanctioning effect. 3. For the purpose of the moratorium request, the customer must sign and deliver to the entities referred to in paragraph 1, the self declaration according to the model attached to the resolution of the Coordination of the Supervisory Board referred to in the preceding article. For the purposes of sanction apply the provisions of Title VI of the law 5 October 2011 n. 159. 4. The subject recipient of self-certification, referred to in the previous paragraph, will send a copy to the Commissioners of the bank in order to verify this, for part of them knowable; Commissioners, notwithstanding the provisions of article 36 of Law 165 of 17 November 2005, will be able to confirm or deny the applicant creditor the existence at the bank, the date of the decision to suspend payments, the cash resources sufficient to adjust payment of the debt, taking account of any self-certifications already received earlier on behalf of the same client. 5. Even for creditors other than those identified in paragraph 1, the impossibility of fulfilling, self-certified and verified in accordance with the previous paragraphs, may be relied on as a "force majeure" for all purposes of the current provisions and / or contract. Article 3 (Final Provisions) 1. The discipline of the suspension of payments of the liabilities referred to in Article 82 of Law 165/2005 does not apply to amounts received by the Bank, and credited on deposit accounts belonging to customers, after the effective date of the suspension of the same measure. Given at Our Residence, this day of 28 November 2011/1711 THE CAPTAINS REGENT Gabriele Gatti - Matteo Fiorini THE SECRETARY OF STATE FOR INTERNAL AFFAIRS Valeria Ciavatta