Royal Legislative Decree 7/2004 Of 29 October, Which Approves The Revised Text Of The Legal Statute Of The Insurance Compensation Consortium.

Original Language Title: Real Decreto Legislativo 7/2004, de 29 de octubre, por el que se aprueba el texto refundido del Estatuto Legal del Consorcio de Compensación de Seguros.

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The first final provision of the law 34/2003, of 4 November, modification and adaptation to Community law of the legislation of private insurance, authorized the Government to, within the period of one year since its entry into force, draw up and approve a consolidated text of the Statute Legal of the consortium of compensation of insurance contained in the fourth article of the law 21/1990 19 December, to adapt the right to Spanish to the Council of 22 June 1988 Directive 88/357/EEC on the coordination of laws, regulations and administrative provisions relating to non-life insurance, direct insurance, by which establish provisions to facilitate the effective exercise of freedom to provide services and that amending Directive 73/239/EEC It included the modifications introduced by subsequent laws. The delegation includes the Faculty regularizing, clarifying and harmonizing the legal texts that are to be consolidated.

The fulfilment of the mandate contained in the first final provision of the law 34/2003, of 4 November, obeys this legislative Royal Decree which approves the revised text of the Legal Statute of the insurance compensation Consortium.

Law 21/1990, of 19 December, endowed with a new legal statute to the Consorcio de Compensación de Seguros, which had been demanded by the modification carried out by the legislative Royal Decree 1255 / 1986, of June 6, paragraphs 2 and 3 of article 4 of law 33/1984 of 2 August, on management of private insurance to adapt it to the commitments arising from the Treaty of accession of Spain to the European economic community, and that was inexcusable to demand that treated the loss of the nature of the monopoly of one of its main functions, which is linked to the extraordinary risks. In addition to losing exclusivity in the coverage of the extraordinary risks, the new legal statute modified the legal regime of the Consorcio de Compensación de Seguros, which ceased to be an independent body and went on to become a State-owned company.

The Legal Statute of the consortium of insurance compensation, approved by law 21/1990, of 19 December, has undergone subsequent reforms and modifications.

The ninth additional provision of law 30/1995 of 8 November, management and supervision of private insurance, carried out an in-depth reform of the legal status of the Consorcio de Compensación de Seguros, by modifying several of its provisions, relating to the definition of its aims and duties, the delimitation of functions private in relation to extraordinary risk insurance and compulsory automobile insurance , and their public functions. The regime of charges in favour of the Consortium is also clarified and will said the financial and accounting separation of the operations of the Consortium in the safe agricultural combined to other operations.

Law 44/2002 of 22 November, reform of the financial system, also introduced an important reform in the legal status of the Consorcio de Compensación de Seguros. Such a change was due to the need to collect the new functions of the Consorcio de Compensación de Seguros as liquidator of insurance companies, have been abolished the Commission liquidator of insurance companies and pass its functions, heritage and personal to be assumed by the Consortium, which forced also to modify certain aspects of its regime.

In relation to the mode of operation of the Consortium, law 44/2002 of 22 November, enabled the fractionation of all charges in favour of the Consorcio de Compensación de Seguros.

In the scope of coverage of extraordinary risks, law 44/2002 of 22 November, allowed, in the terms and with the limits that regulations determine, coverage of loss of profits because of those. In the field of insurance of civil responsibility in the circulation of motor vehicles of compulsory subscription, law 44/2002 of 22 November, it empowered the consortium to assume coverage of civil liability for motor vehicles exceeding the limits of the compulsory insurance on risks that are not accepted by the insurance companies.

On the other hand, the Act joined domestic law Directive 2000/26/EC of the European Parliament and of the Council of 26 May 2000, on the approximation of the laws of the States members on insurance of civil liability of vehicle car (fourth directive on motor insurance), incorporation that required modification among other rules, the legal status of the Consorcio de Compensación de Seguros, in order to empower him that, for the proper exercise of its functions as the information agency, could conclude agreements with institutions related to compulsory insurance.

Law 22/2003, of July 9, bankruptcy, has come to introduce modifications in the legal status of the Consorcio de Compensación de Seguros in order to adapt the wording of certain provisions to the new regulation on bankruptcy matters, and this regardless of which, in accordance with its second additional provision, in the contests of insurance companies apply the specialties that are established in their specific legislation for bankruptcy situations , except those relating to the bankruptcy administration. To these effects, the aforementioned additional provision considers special legislation, as far as the insurance entities referred to, law 30/1995, of 8 November, management and supervision of private insurance (articles 25 to 28, 35 to 39 and 59), and the law 21/1990, of 19 December, to adapt Spanish law to Directive 88/357/EEC , on freedom of services in non-life insurance and private insurance legislation update (fourth item).

More recently, law 34/2003, of 4 November, modification and adaptation to Community law of the legislation of private insurance, has been influencing the legal statute of the Consortium, modifying it in order to allow compensation for the consortium of the personal damage caused as a result of extraordinary events abroad when the policyholder has his habitual residence in Spain. In addition, the second additional provision of the Act establishes, with the appropriate range of regulatory and in accordance with the tax nature of the charge in favour of the consortium to finance the functions of liquidation of insurance companies, the surcharge by fractionation to be applied.

Together with the previously mentioned reforms, they must consider other standards that have modified the legal framework in which it operates the Consorcio de Compensación de Seguros. In this sense, it must refer to law 6/1997, of 14 April, of organization and functioning of the General Administration of the State, which was updated legislation dedicated to the traditionally so-called "institutional administration of the State", opting for a generic name, "public bodies", which brings together all public law entities dependent or related to the General Administration of the State and distinguishing two basic models : autonomous bodies and public business entities. So this new legal framework has to reflect the legal status of the Consortium, which includes, according to him, its position in the category of public enterprise.

Similarly, the consolidated text of the Legal statute which was approved conforms to the recast of the public administrations Contracts Act, approved by Royal Legislative Decree 2/2000, of 16 June, the new law 47/2003, of 26 November, General budget, and to the law 33/2003 of November 3, the heritage of the public administrations.

This legislative Royal Decree consists of a single article, which approves the revised text of the Legal Statute of the insurance consortium of compensation, an additional provision, a provision repealing and final disposition that sets the entry into force of the standard.

The text of the Statute Legal of the Consortium's compensation insurance that approves maintains the structure and Systematics of the Statute approved by the law 21/1990 of 19 December, whose party operative is organised into a total of five chapters. The first of these contains a number of General provisions that regulates the nature, the legal regime and the Consortium's aims; the remaining chapters refer to the Organization, functions, operating regime and the regime of personal and economic-financial, respectively. The same division in sections than in the original text of the legal statute remains within each chapter. The legal status is completed with an additional provision and two final provisions.

By virtue, on the proposal of the Minister of economy and finance and the Minister of public administration, in accordance with the Council of State and after deliberation by the Council of Ministers at its meeting of October 29, 2004, D I S P O N G O: only article. Adoption of the text of the Legal Statute of the insurance compensation Consortium.

Approves the revised text of the Statute Legal of the Consortium's compensation insurance, which is inserted below.

Sole additional provision. Regulatory referrals.


Carried out normative references in other provisions to the Legal Statute of the consortium of insurance compensation, approved by the fourth article of the law 21/1990, of 19 December, to adapt Spanish law to Directive 88/357/EEC, on freedom of services in non-life insurance and private insurance law update, shall be made to the relevant precepts of a consolidated text that was adopted.

Sole repeal provision. Repealed rules.

1 are hereby repealed many provisions of equal or lower rank to oppose provisions in the text of the Statute Legal of the Consortium's compensation insurance that is approved and, in particular: to) of law 21/1990, of 19 December, to adapt Spanish law to Directive 88/357/EEC on freedom of services in non-life insurance and private insurance legislation update its fourth article, the second additional provision, its fourth additional provision and paragraph one of its first transitional provision.

(b) of the law 30/1995, of 8 November, management and supervision of private insurance, their ninth additional provision, "Changes in the Statute Legal of the consortium of compensation of insurance".

(c) the law 44/2002, 22 November, reform of the financial system, the third paragraph of article 11 and its article 34.

(d) of law 22/2003, of July 9, bankruptcy, its twenty sixth final provision, "Reform of the Legal status of the Consorcio de Compensación de Seguros".

(e) the law 34/2003, of 4 November, modification and adaptation to Community rules of private insurance legislation, their fourth article and its additional provision second, "Fractionation of the surcharge intended to finance the functions of liquidation of insurance companies by the Consorcio de Compensación de Seguros".

2 are declared in force the following provisions: a) of law 21/1990, of 19 December, to adapt Spanish law to Directive 88/357/EEC on freedom of services in non-life insurance and private insurance legislation update: 1 its third additional provision, amending Act 25/1964 , 29 April, regulator of nuclear energy.

2nd additional available seventh, concerning subrogation by the administration of the State as a reinsurer in the place of the Consorcio de Compensación de Seguros in the contracts to cover commercial risks in the insurance of export credit, in which the latter is re-insurance "company Spanish of insurance of credit to export ", Joint-stock company".

(b) the law 44/2002, 22 November, reform of the financial system, the third transitional provision, "Transitional regime of the liquidator of insurance entities Commission".

Sole final provision. Entry into force.

This Royal Legislative Decree and the text adopted shall enter into force the day following its publication in the "official bulletin of the State".

Given in Madrid, on October 29, 2004.

JUAN CARLOS R.

The first Vice-President of the Government and Minister of the Presidency, MARIA TERESA FERNANDEZ from LA VEGA SANZ text revised status LEGAL of the consortium of compensation of insurance index chapter I provisions general article 1. Legal nature of the Consorcio de Compensación de Seguros.

Article 2. Legal regime.

Article 3. Purposes.

Chapter II organisation article 4. Bodies of Government and administration.

Article 5. Powers.

Chapter III functions section functions in the insurance field article 6 1. In relation to the extraordinary risks on people and property.

Article 7. Classes of insurance surcharge compulsory in favour of the Consortium for the exercise of their functions in extraordinary events.

Article 8. Rights and obligations of the Consortium at extraordinary risk insurance.

Article 9. In relation to the insurance of nuclear risks.

Article 10. In relation to the combined agricultural insurance.

Article 11. In relation to the liability insurance on motor vehicles of compulsory subscription circulation.

Article 12. In relation to the compulsory insurance of travelers.

Article 13. In relation to the compulsory insurance of civil liability of Hunter.

Article 14. In connection with the liquidation of insurance companies.

Section 2 public functions article 15. In relation to export credit insurance.

Article 16. Other public functions.

Chapter IV article 17 operating regime. Determination of models of policies, rates for premiums and technical bases.

Article 18. Surcharges in favor of the Consortium.

Article 19. Legal assistance and inspection service.

Article 20. Peculiarities of the processing of claims.

Article 21. Exercise of judicial action against the Consortium.

Chapter V regime of personal and financial-economic section 1 article 22 personnel regime. Staff of the Consortium.

Section 2 patrimonial regime article 23. Economic resources.

Article 24. Heritage and technical provision of stabilization.

Article 25. Regime of budget, accounting and control.

Article 26. Regime of recruitment and access to credit.

Sole additional provision. Adaptation of the functional scope of the consortium to the evolution of the insurance market.

First final provision. Skill-related title.

Second final provision. Regulatory authority.

Chapter I General provisions article 1. Legal nature of the Consorcio de Compensación de Seguros.

1 the insurance compensation Consortium (hereinafter the Consortium) is a public enterprise provided for in article 43.1. b) of law 6/1997, of 14 April, of organization and functioning of the General Administration of the State, with its own legal personality and full capacity to act for the fulfillment of its purposes, equipped with other than the State Heritage It will adjust its activity to private law.

2. the Consortium is attached to the Ministry of economy and finance.

Article 2. Legal regime.

1. the consortium shall be governed by the provisions contained in this legal status and in what does not object to it, why specifically law 6/1997, of 14 April, of organization and functioning of the General Administration of the State, engaged in chapter III of title III to the public business entities, as well as others planned for such entities in the current legislation.

2 shall be subject, in the exercise of its insurance business and, in the absence of special rules contained in this legal status, provisions on the consolidated text of the law of management and supervision of private insurance, approved by Royal Legislative Decree 6/2004, of 29 October, and in the Law 50/1980, of 8 October , insurance contract.

3. the recruitment of the Consortium is governed by private law, except as provided for entities of public law in article 2 of the revised text of the public administrations Contracts Act, approved by Royal Legislative Decree 2/2000, of 16 June.

Article 3. Purposes.

1. the Consortium, as a body inspired by the principle of compensation, aims to cover risks in insurance that are determined in this legal status, with the amplitude that is fixed or can be done in specific provisions of legal rank.

For the proper fulfilment of the aforementioned purposes, the consortium may enter into compacts coinsurance, as well as assign or back part of the risks taken to Spanish insurance companies or foreign that are authorised to carry out operations of this nature in reinsurance. You can also accept reinsurance in nuclear risk insurance and agricultural insurance combined under the terms provided in this legal status.

2. out of the assumptions referred to in paragraph 1, the Consortium will take coverage by entering into pacts of coinsurance or accepting reinsurance in those cases in which there are reasons of public interest which advised it, taking into account the situation and circumstances of the insurance market.

3 are the Consortium public functions concerning the chargeability of the surcharges in favor of the Consortium, which credited the regulatory legislation of export credit insurance on behalf of the State, and that gives it article 16.

4 it shall be for the consortium to carry out the liquidation of the insurance entities that you assigned in the cases provided in this legal status and in the law on management and supervision of private insurance, as well as the exercise of the functions that in the bosom of the bankruptcy proceedings that they may be subjected the same entities attributed these rules.

Chapter II organisation article 4. Bodies of Government and administration.

1. the Consortium will be governed and administered by a Board of Directors comprised of the President of the Consortium and a maximum of 18 vowels.

2. the Presidency of the Consortium will be played by the Director General of insurance and pension funds.

3. the appointment and dismissal of the members will be held by the Minister of economy and finance.

Article 5. Powers.

1 the following responsibilities of the Board of Directors: to) approve the Organic Statute of the Consortium and its amendments.

(b) drawing up the multiannual action programme and the budget of exploitation and capital, in accordance with articles 64 and 65 of the Law 47/2003, of 26 November, General budget.

(c) approve the annual accounts of the Consortium.


(d) propose the adoption of the Commission's charge that is payable by the levying of charges on behalf of the Consortium within the limits set out in this legal status to the General Directorate of insurance and pension funds.

(e) propose measures, plans and programmes are suitable for a better development of the activity of the Consortium. And, in general, decide on all those issues that the President submit to your consideration.

(f) Contracting credit and issue debt under the terms of this legal regulations and other provisions applicable to the public business entities.

(g) adopt their policies, rates for premiums and technical bases that need to use the Consortium.

(h) provide, by a majority of two-thirds of its components, the consent in hiring, such as coasegurador or accepting reinsurance, the coverage of the risks referred to in article 3.2 in all cases other than the specifically regulated in articles 6 to 11, both inclusive.

(i) the exercise of the functions provided for in article 14, which may be delegated as expected in the Organic Statute of the Consortium prior authorization of the Director General of insurance and pension funds.

2 involve the Presidency functions of the consortium not expressly assigned to the Board of Directors preceding paragraph.

The President may grant powers for the exercise of the powers which incumbent, in order to achieve greater efficiency of the Consortium.

3 insofar as it does not come arranged in this legal statute and in the rules which are applicable, the Organic Statute shall determine the structure of the Consortium and its regime's inner workings.

Chapter III functions section functions in the insurance field article 6 1. In relation to the extraordinary risks on people and property.

1. the Consortium, extraordinary risk, shall indemnify, in the way established in this legal status, in regime of compensation, losses arising from extraordinary events occurring in Spain and which affect risks therein situated.

Personal damage resulting from extraordinary events abroad when the policyholder has his habitual residence in Spain are also compensable by the Consortium.

For this purpose, direct damage in people and goods, as well as, under the terms and within the limits to be determined by regulation, loss of benefits as a result of those will be losses.

Means, equally in the terms to be determined by regulation, by extraordinary events: to) the following phenomena of nature: earthquakes and tsunamis, extraordinary floods, volcanic eruptions, atypical cyclonic storm and falls of sidereal bodies and meteorites.

b) violently incurred as a result of terrorism, rebellion, sedition, mutiny and popular tumult.

(c) facts or actions of the armed forces or forces and security bodies in peacetime.

2 a exclusively purposes of coverage of the Consortium, refers to risks situated in Spain involving a: to) Spanish-registered vehicles.

(b) real property situated in the national territory.

(c) the movable property that is found in a property located in Spain, whether or not they are covered by the same insurance policy, with the exception of those who are in transit.

(d) in all other cases, when the policyholder has his habitual residence in Spain.

3 will not be compensable by the Consortium damages or claims following: to) that do not give rise to compensation according to the Law 50/1980, of 8 October, insurance contract.

b) such costs on people or goods insured by insurance contract other than those in which the charge in favour of the Consortium is required.

(c) those due to defect or defect of the insured thing.

d) produced by armed conflict, although it has not preceded the official declaration of war.

(e) those who, by their magnitude and gravity are branded by the Government as "national calamity or disaster".

(f) derivatives of nuclear energy.

(g) due to the mere action of weather or atmospheric agents other than the phenomena of the nature referred to in paragraph 1.

(h) those caused by actions produced in the course of meetings and demonstrations carried out in accordance with law 9/1983, of 15th July, regulating the right of meeting, as well as during legal strikes, except that these actions could be qualified as extraordinary in accordance with paragraph 1 events.

(i) indirect or loss of any kind resulting from any direct or indirect, other than loss of profits that is establishes by regulation.

Article 7. Classes of insurance surcharge compulsory in favour of the Consortium for the exercise of their functions in extraordinary events.

For the fulfilment by the consortium of its functions in respect of compensation of losses arising from extraordinary events, in Spain, and also for personal damages occurring abroad when the policyholder has his habitual residence in Spain is compulsory extra charge on his behalf in the fields of: accidents, road vehicles, railway vehicles, fire and natural elements , other damage to property and pecuniary loss different, as well as modalities combined, or when are contracted on a complementary basis.

They understand themselves included, in any case, policies covering the risk of accidents in a pension plan formulated in accordance with the revised text of the law on regulation of schemes and pension funds, approved by Royal Legislative Decree 1/2002, of 29 November, as well as policies that cover damage to nuclear facilities.

They are excluded, in any case, policies covering agricultural production susceptible assurance through the combined agricultural insurance system, because it is referred to in the plans that each year the Government approves, as well as policies that cover the risks arising from the transport of goods, construction and Assembly, and any other branches of different insurance policies to the enumerated in paragraph first.

Article 8. Rights and obligations of the Consortium at extraordinary risk insurance.

1 Consortium will be required to meet the indemnity of losses caused by extraordinary events to insured persons who have fulfilled the corresponding charges in favour of that and are any of the following situations: to) that the extraordinary risk covered by the Consortium is not covered by insurance.

(b) which, even being covered by insurance, the obligations of the insurance company not could be fulfilled by being legally declared bankrupt or, being in a State of insolvency, it is subject to a procedure of liquidation intervened or this would have been assumed by the consortium itself.

2. the obligation of the Consortium support necessary and exclusively to the same people or goods, and for the same insured amounts which have been established in the insurance policies, without prejudice to what regulations is established in relation to the damage to motor vehicles and with the Covenants for optional inclusion in policies.

This obligation shall be limited to compensation that appropriate pay subject to the Spanish law of insurance contract.

3. all policies included in the preceding article shall contain a clause of coverage by the consortium of the extraordinary risks, which will be express reference to the Faculty for the policyholder to cover such risks with insurers who meet the conditions required by the legislation in force. This clause shall be approved by the General Directorate of insurance and pension funds, a proposal from the Consortium, and will be published in the "official bulletin of the State".

4. by law, for the cases and under the conditions to be determined, a grace period may be established.

5. in insurance against damage, the Minister of economy and finance, on a proposal from the Consortium, may fix a franchise to the insured for cases in that the Consortium has the obligation to compensate.

Article 9. In relation to the insurance of nuclear risks.

1 Consortium will assume the coverage of the risk of the civil liability for nuclear accident that took place in Spain in the following way: a) in the case that is not reached by the insurance companies set the minimum limit of liability provided for in Act 25/1964 of 29 April, regulator of nuclear energy, the Consortium will participate in coverage assuming the difference up to the limit shown.

(b) it will act as a reinsurer in the form and amount to be determined by the Ministry of economy and finance.

2. for the purposes of this legal status, it means nuclear incident as defined in article 2.17 of law 25/1964 of 29 April, regulator of nuclear energy.

Article 10. In relation to the combined agricultural insurance.

1 Consortium will assume the coverage of risk in agricultural insurance combined, in the form and amount to be determined by the Ministry of economy and finance, in the following cases: a) in the case that is not reached by the whole of the insurance entities, the totality of the coverage provided for in the law 87/1978, of 28 December , combined agricultural insurance.

(b) acting as reinsurer.


2. the Consortium will assume the coverage of the risk of forest fires in terms of its specific legislation.

3. in any case, it will be the Consortium the exercise of control of the assessments of the claims.

Article 11. In relation to the liability insurance on motor vehicles of compulsory subscription circulation.

1 Consortium will assume, within the limits of indemnification set for insurance of civil responsibility in the circulation of vehicles to compulsory subscription engine, the following functions: to) the hiring of coverage of the obligations arising from the civil liability of the State, autonomous communities, local corporations and agencies dependent on or linked to any of them when , in all cases, request to arrange such insurance with the Consortium.

(b) the hiring of the coverage of risks that are not accepted by the insurance companies.

2. Notwithstanding the provisions of the preceding paragraph, the Consortium will take coverage of civil responsibility in the circulation of motor vehicles, exceeding the limits of the compulsory insurance, with respect to insured vehicles described in paragraph 1. For the cases referred to in paragraph (b)), the same requirements according to the rules established in relation to compulsory insurance will be required.

3. also correspond to the Consortium functions that you article 11 of the revised text of the law on civil liability and insurance in the circulation of vehicles at motor, approved by Royal Decree legislative 8/2004, of 29 October, under the conditions provided for in this Act and to the limits of the compulsory insurance.

Article 12. In relation to the compulsory insurance of travelers.

The Consortium will assume, within the limits of indemnification set for compulsory insurance of travelers, the following functions: to) the hiring of the coverage of risks that are not accepted by the insurance companies.

(b) the payment of the obligations of such entities when they had been declared legally bankrupt, or who, being in a State of insolvency, they were subject to a procedure of liquidation intervened or this would have been assumed by the consortium itself.

(c) compensation for personal injury caused to travellers on the occasion of the carriage covered by the insurance when the carrier, in breach of the law, does not have subscribed the timely policy of compulsory insurance of travelers, except damage caused to those who occupy the means of transport, the Consortium proved that they were aware of such circumstances.

Article 13. In relation to the compulsory insurance of civil liability of Hunter.

1 Consortium will assume, within the limits of indemnification set for compulsory insurance of civil liability of Hunter, the following functions: to) the hiring of the coverage of risks that are not accepted by the insurance companies.

(b) the payment of the obligations of such entities when they had been declared legally bankrupt or who, being in a State of insolvency, they were subject to a procedure of liquidation intervened or this would have been assumed by the consortium itself.

2 in addition, and also within the limits of the compulsory insurance, shall perform the following functions: to) compensation to victims or their beneficiaries of accidental injuries that occurred in Spain on the occasion of the exercise of hunting with firearms, when the cause of the damage is not insured or when it is unknown. In the case of existence of a hunting party, the subsidiary responsibility of the Consortium was born exclusively by the members of the hunting party that are not covered by compulsory insurance.

(b) indemnify the body damage caused by hunting gun when it could be effective the economic benefit for the media regulated by the legislation on compulsory insurance of civil liability of Hunter.

Article 14. In connection with the liquidation of insurance companies.

1. the Consortium will assume the status of liquidator of the insurance entities enumerated in article 7.1 of the text of the Act of ordination and supervision of private insurance, approved by Royal Legislative Decree 6/2004, of 29 October, subject to the jurisdiction of execution of the State or the autonomous communities, when economy Minister entrusted its liquidation and the Treasury or the body competent for the respective autonomous community.

You will be assigned the liquidation in the following cases: to) simultaneously with the dissolution of the insurance company if it had proceeded to it administratively.

(b) If an entity is dissolved, this had not proceeded to the appointment of the liquidators before the 15 days following the dissolution, or when the appointment within that period it would be without complying with the legal and statutory requirements.

(c) when the liquidators fail to comply with the rules which, for the protection of policyholders, set forth in the consolidated text of the law of management and supervision of private insurance, approved by Royal Legislative Decree 6/2004, of 29 October, which govern the liquidation or hinder it. Also when, for delaying the liquidation or because circumstances that thus do so, Administration understand that the settlement should be charged to the Consortium. In the case that the liquidation be intervened, charged to the Consortium will remember prior report of the external auditor.

(d) by acceptance of the request of the own insurance company, whether to appreciate cause.

2 correspond to the Consortium, in the terms provided in the bankruptcy legislation, the status and functions of the insolvency administration in competition proceedings who is under any insurance company, and this required the acceptance of the cargo. His performance in these procedures will be unpaid.

The consortium shall communicate to the Court the identity of the natural person who is to represent you in the exercise of his office, to which will be of application the rules contained in article 28 of the law 22/2003, of July 9, bankruptcy, with the exceptions that the settle.

3. where necessary, it leads to effect settlement separated from goods referred to in article 59 of the consolidated text of the law of management and supervision of private insurance, approved by Royal Legislative Decree 6/2004, of 29 October.

Section 2 public functions article 15. In relation to export credit insurance.

The Government will determine the functions which, in his case, correspond to the Consortium in the export-credit insurance on behalf of the State.

Article 16. Other public functions.

They correspond, in addition, to the Consortium the following functions: to) propose the rates of charges which should see the Consortium as a counterpart to the functions of the Fund of guarantee and compensation attributable to the General Directorate of insurance and pension funds.

(b) to collect information which is determined according to the rules to which the insurance companies that issued insurance policies in the fields referred to in article 7 with regard to these policies will be required.

In particular, the insurance entities with domicile in the European economic area which, not being resident in Spanish territory or operating in this through establishment, issued policies of the referred in the previous paragraph will come obliged to designate a person, natural or legal, domiciled in Spain to represent them before the Consortium in connection with the above-mentioned obligations in articles 7 and 8.

(c) develop plans and programs for the prevention and reduction of accidents and develop them through the corresponding campaigns and preventive measures.

(d) enter into agreements with guarantee funds or other institutions related to compulsory insurance, in order to facilitate the respective performance of its functions in the field of compulsory insurance.

(e) any others that attributed legal or regulatory standards.

Chapter IV article 17 operating regime. Determination of models of policies, rates for premiums and technical bases.

1. the Consortium paid premiums in cases in which concluded contracts of insurance as insurer or accept reinsurance.

2 models of policies, rates for premiums and technical bases in the insurance concluded by the consortium shall comply with the provisions of article 25 of the revised text of the law of management and supervision of private insurance, approved by Royal Legislative Decree 6/2004, of 29 October.

Article 18. Surcharges in favor of the Consortium.

1. are charges in favour of the Consortium: the surcharge on the extraordinary insurance on persons and goods, the surcharge on the compulsory civil liability insurance in the vehicle's engine, the surcharge intended to finance the functions of liquidation of insurance companies, the surcharge on the compulsory insurance of liability of Hunter and the surcharge in the compulsory insurance of travelers.

These surcharges, which correspond to the Consortium in its functions of liquidation of insurance companies, clearing and guarantee fund, have the character of income from public law enforceable through administrative proceedings when they have not been admitted by the insurance entities within the time limit set in paragraph 4; for this purpose, will be executive title bare certification issued by the Director-General of insurance and pension funds, on a proposal from the Consortium.


2. all charges in favour of the Consortium will be compulsorily collected by the insurance entities together with their premiums. For fractionation of these entities may choose to raise these charges with the first installment payment that is made, or by doing so as they expire the corresponding fractions of premium, while latter types should apply on the fractions of the surcharge by fractionation that, for each possible frequency, focus on the rates of charges in favour of the Consortium , or in the case of the surcharge to finance the functions of liquidation of insurance companies, referred to in paragraph 3.

The choice of the option to split the surcharges in favor of the Consortium as they expire the corresponding fractions of premium shall be recorded in the technical bases of the entities, communicate to the Consortium and applied systematically in the field or risk concerned, except for duly justified cause.

The General Directorate of insurance and pension funds, through the insurance and inspection in accordance with the approved inspection plans to the Consortium proposal, will inspect to the insurance companies which collect surcharges in favor of the Consortium, in order to verify the effective implementation of this obligation.

3. the choice by the insurance company of the option to split the surcharge intended to finance the functions of liquidation of insurance companies together with the premiums will entail obligations laid down in paragraph 2.

The calculation of the interest by fractionation shall be indicated for each one of the bouquets or risk that this option has been selected and will be declared and settled together with surcharges fractionated in the model and in the same period to which correspond the surcharges.

Types of fractionation that shall apply, taking as the basis of calculating the surcharge to be declared for all of the premium, excluded other surcharges and taxes, will be: to) for fractionation of raw material with semi-annual maturities, two percent.

(b) for fractionation of raw material with quarterly maturities, 2.5 percent.

(c) for fractionation of raw material with bi-monthly maturities, three per cent.

(d) for fractionation of premium due in monthly installments, 3.5 per cent.

Interests by fractionation will have for all purposes the same nature as the obligatory surcharge that correspond.

4. the insurance entities will be obliged, at the time of filing of charges collected on account of this, to practice a settlement, and enter the amount with the periodicity and subject to rules to be determined by regulation to the Consortium.

Both the returns filed by the General Directorate of insurance and pension funds derived from records of inspection as those others who do not have designated term of income by their specific rules must be paid within 15 days following the day in which took place the notice of liquidation to the insurance company.

5. the exercise of management fundraising on behalf of the Consortium, fulfilling the provisions of this rule, will take about eligibility for a Commission fee to be fixed by the General Directorate of insurance and pension funds on a proposal from the Consortium and after hearing the entities and most representative insurance organizations, unless it can exceed 10 per cent of the gross amounts collected.

6. the breach of the obligation of entering the Consortium fees perceived by the insurance company in the term and form established by law will be rigged, without prejudice to the administrative responsibilities and, where appropriate, penalties which would have incurred, the obligation to satisfy the legal interest during the delay period and, in addition, the loss of the Committee on payment.

Article 19. Legal assistance and inspection service.

1. the representation and defense of the Consortium before the courts and tribunals shall correspond to the State attorneys and other lawyers integrated in the legal services of the State, without prejudice to that, for certain cases and agree with what is statutorily available, it can be entrusted to a specially designated college lawyer to the effect.

The consortium may request advice on right side of the law General of the del service legal in the State.

2. the General Directorate of insurance and pension funds, through the inspection of State insurance and in accordance with the approved inspection plans to the Consortium proposal, will inspect the companies, whether legal entities or natural persons, which raised fees and premiums on behalf of the Consortium.

Article 20. Peculiarities of the processing of claims.

The processing of the claims that the Consortium has the status of insurer or reinsurer, with attachment to the opinion of the experts referred to in article 38, seventh paragraph, of law 50/1980, of 8 October, of insurance contract, in terms of issues in fact listed in it, snaps to the aforementioned law.

Still, the following special rules shall apply: to) in the processing of claims on the liability insurance civil derivative of nuclear energy, will be mandatory the technical report of the Consejo de Seguridad Nuclear Accident, its causes, its extent and its effects.

(b) to be eligible both declarative demand and the Executive based on the car's maximum amount regulated by law 1/2000, of 7 January, Civil procedure, relating to the civil liability of the use and traffic of motor vehicles, you must demonstrate convincingly that the Consortium was required judicial or extrajudicial payment, and that since the requirement passed within three months without having been cared.

(c) in the exercise of the power of repetition by the Consortium will be enforcement, for the purposes of article 517 of the law 1/2000, of 7 January, of the code of Civil procedure, the certification of the President of the Consortium supporting the amount of the indemnity paid by the Consortium provided that has been required of payment charge and you have not done it within the period of one month from this requirement.

(d) in the processing of claims in the insurance of forest fires in the consortium to have function of insurer, will accompany the claim certified by the competent authority on the causes of the accident and the approximate extent of the area affected by the fire. In claims for injuries in people will accompany medical report on injuries and their causes, as well as discharge or death, in his case.

Article 21. Exercise of judicial action against the Consortium.

Without prejudice to the provisions of article 20, for the exercise of civil actions against the Consortium will not be accurate prior administrative claim or shall apply the standards contained in the articles 7.3, 10.2, 15, 16, 21, 23 and 24 of the Law 47/2003, of 26 November, General budget.

Chapter V regime of personal and financial-economic section 1 article 22 personnel regime. Staff of the Consortium.

The staff of the Consortium will be governed by the provisions of the revised text of the law of the Statute of workers, approved by Royal Legislative Decree 1/1995 of 24 March, and other regulatory provisions of the employment relationship and you shall apply the provisions of article 55 of the law 6/1997, of 14 April Organization and functioning of the General Administration of the State.

Section 2 patrimonial regime article 23. Economic resources.

1 for the fulfilment of its purposes the Consortium will have the following resources: to) the premiums and surcharges on premiums or insured capital received for coverage, matter what form this takes, all kinds of risks assumed by the Consortium.

(b) the precise state subsidies for the establishment of technical provisions that are carried out by legal or regulatory standard of direct application to the Consortium and in cases of covering risks where there is inadequacy of premiums, fees or surcharges.

(c) the amounts recovered in the exercise of the right to repeat and interest that are appropriate in accordance with the legal system.

(d) products and incomes from their heritage.

(e) from credits, loans and other financial operations that can arrange.

(f) any other income that apply to you in accordance with the legislation in force.

2. the rates of fees in favour of the consortium without specific regulation will be approved by the General Directorate of insurance and pension funds, a proposal from the Consortium, and will be published in the "official bulletin of the State".

3 for the fulfillment of its functions of liquidation of insurance companies, the Consortium will have the following resources: a) the surcharge intended to finance the functions of liquidation of insurance companies whose collection and management also corresponds.

(b) the quantities and goods to retrieve in the exercise of the rights of persons who have given him their credits, or your subscription to them in advance.

(((c) laid down in paragraphs d), e)) and (f) of paragraph 1.

4. the surcharge intended to finance the functions of liquidation of insurance companies is a tribute levied insurance contracts.


All of the insurance contracts concluded on risks located in Spain, other life insurance and insurance of export credit on account or with the support of the State are subject to this surcharge. Will not be subject to the surcharge forecast plans insured matter what the contingency or contingencies that cover.

The surcharge is accrued when the payment of the premium corresponding to contracts of insurance subject to him.

They are passive subjects of the surcharge, in condition of taxpayers, the insurance companies, which must fully affect the amount on the policyholder, who will be forced to endure it whenever the impact meets this legal status, any that were existing provisions including provisions.

The amount of the premium is the base of the surcharge. Not shall be included in the premium those amounts for any other surcharges that the affected insurance contract must support by virtue of a legal provision which imposes it.

The type of the surcharge shall consist of the three per thousand before concerned premiums.

Article 24. Heritage and technical provision of stabilization.

1. the assets of the Consortium consists of all assets, rights, obligations and shareholdings that attributed this legal status and other provisions that apply it, as well as that in future they get or you to be incorporated.

In addition, integrated its heritage the contributions made by the State for the purpose of maintaining the appropriate financial balance by every branch of insurance, as well as the solvency margin required to the consortium by the legal system in the field of insurance.

In the combined agricultural insurance, the consortium must bear the operations carried out with absolute financial and accounting separation from the rest of the operations, with integration of the contributions made by the State to the effect of the appropriate financial balance of these operations.

In the same way, the consortium must bear operations carried out in the exercise of their functions of liquidation of insurance companies, in the insolvency proceedings to which they are subjected with absolute financial and accounting separation of the remaining operations. Income derived from the performance of the duties referred to in this paragraph shall be exempt from tax.

The resources corresponding to the risks covered by export credit insurance on behalf of the State, which will be equipped with full accounting, patrimonial and financial independence are excluded from the heritage of the Consortium.

2. the consortium shall constitute the technical provision of stabilization of separately for relating to combined agricultural insurance coverages and the rest of the coverage and, with regard to the latter, globally for all coverages affected.

This provision will be provided according to the specific criteria to be determined according to the rules, whereas it should also assist compensation claims with the character of Fund of guarantee and compensation functions, and will be considered starting deductible for purposes of determining taxable corporate income tax for the year in which such provision is made provided that the total amount of the provision does not exceed the limits established by law.

Article 25. Regime of budget, accounting and control.

1. the multiannual programme and operating and capital budgets shall comply with the provisions of articles 64 and 65 of the Law 47/2003, of 26 November, General budget. In any case, in the settlement of the budget surpluses that may occur will be incorporated into the heritage of the entity.

2. will it adjust in their accounting and is subject to the economic and financial control and efficiency that for entities of insurance legislation applicable to these entities, and the rules that law 47/2003, of 26 November, General budget, dedicated in this area to the public business entities.

Article 26. Regime of recruitment and access to credit.

1. the recruitment of the Consortium will take effect by the rules of private, civil, commercial or labour law.

2. the Consortium can perform all types of financial operations and, in particular, arrange active and passive transactions of credit and loan matter what form that be implemented, including through the issuance of obligations, bonds, promissory notes or other similar values.

These financial consortium operations will have the following characteristics: to) it will be up to the governing body contracting credit and issue debt, arranging or fixing your term, interest rate, and other characteristics, as well as establishing representation total or partial of the debt issued in obligations, bonds, promissory notes or other negotiable instruments or documents that formally recognize it or, insofar as the regulations allow it , in book-entry.

(b) in its indebtedness, the Consortium is subject to the limits specified for each year by the General State budget Act. This limit will have the character of net and will be effective at the end of the year.

(c) the debt instrumented securities on stock exchange be admitted automatically to the trading on the stock exchanges.

(d) the economic obligations of the consortium have the guarantee of the State on the same terms as the public finances.

Provision additional unique. Adaptation of the functional scope of the consortium to the evolution of the insurance market.

By Royal Decree, you can reduce the functional scope of the Consortium according to the evolution of the insurance market.

First final provision. Skill-related title.

This consolidated text is issued under cover of the provisions of article 149.1.6. ª of the Constitution.

Second final provision. Regulatory authority.

It corresponds to the Government, on the proposal of the Minister of economy and finance and the Minister of public administration, after hearing of the Advisory Board of insurance and pension funds, develop this legal statute in matters that are expressly attributed to the regulation, as well as, in general, dominion over all those susceptible to regulatory development that is necessary for its correct execution.

It is up to the Minister of economy and finance, after hearing of the Advisory Board of insurance and pension funds, to develop this legal status in matters specifically attributed to the statutory power of the Minister.