Law (2010:2044) On The Introduction Of The Insurance Business Act (2010:2043)

Original Language Title: Lag (2010:2044) om införande av försäkringsrörelselagen (2010:2043)

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Read the untranslated law here: http://rkrattsbaser.gov.se/sfst?bet=2010:2044

Date of entry into force



section 1 of the Insurance Business Act (2010:2043)

force on 1 april 2011. The same applies to this Act

but section 27, which shall enter into force two weeks after

the date on which the law reportedly on the published

from the pressure of the Swedish Code of statutes.



Laws repealed



section 2 of this Act is repealed, with the limitations

as provided for by this law,



1. Act (1972:262) If friendly societies,



2. insurance business Act (1982:713),



3. Act (1982:728) for the inclusion of

the insurance business Act (1982:713), and



4. Act (1987:464) on certain directed placements in

publicly traded companies, etc.



Reference in other statutes



section 3 Of the law or any other statutes

found reference to a regulation that has

replaced by a provision of the

the insurance business Act (2010:2043) or this

law, instead the new provision.



Provisions laid down by law or any regulatory

If the insurance associations must apply for such

friendly societies as of the end of March

2011 continues to operate according to the

Act (1972:262) with the support of friendly societies

by section 7 of this Act unless specifically

specified.



Insurance companies that have been formed before the law

date of entry into force



section 4 of the insurance company and the mutual

insurance companies formed prior to 1 april

2011 insurance business Act (2010:2043)

with the exceptions stated below.



Continued validity of the applicable state and

stadfästelser of the articles of Association



§ 5 Permission for an insurance company, or

mutual insurance companies to drive

insurance business (concession) and confirmation

the articles of association that are applicable at the

the entry into force of the insurance business law

(2010:2043), shall then be deemed to apply as if they

issued pursuant to the Act.



Continued validity of authorised derogations and

exception



section 6 of The exceptions and derogations from the provisions

in the insurance business Act (1982:713)

granted and in force at the entry into force

of the insurance business Act (2010:2043) to

then refer to the corresponding provisions of the

the law.



Understödsförenings application for authorization and

activities



7 § understödsförening that before 1 april 2011

registered under the Act (1972:262) If friendly societies

may continue to run the business and should be covered by

the provisions of the Act to the end of 2017, or, if

an application for a permit pursuant to Chapter 2. insurance business law

(2010:2043) then submitted, until a decision with

reason of such an application has become final.



If an application for an authorisation as referred to in the first subparagraph have not

submitted by end 2017 or denied, shall

the Club go into liquidation.



The liquidation shall be dealt with in accordance with the provisions of the law on

friendly societies.



Such a relationship has occurred involving the liquidation

According to the second paragraph and have not within six weeks thereafter, in

understödsförenings registry in place stating that

the Club went into liquidation, the law on registration of

The financial supervisory authority and after consulting the Association declare that

the Association shall enter into liquidation.



The provisions of section 44 law on friendly societies,

apply for the Court's handling of a notification under

fourth paragraph. Law (2014:219)



Agreement with the bias circuit for services



section 8 in respect of contracts referred to in Chapter 4. § 9

the insurance business Act (2010:2043)

entered into before april 1, 2011 for older

provisions.



Special corporate law provisions



Registration of already formed insurance company



section 9 in respect of the registration of

insurance company and mutual

insurance companies set up before

the insurance business Act (2010:2043) has entered into

force older provisions.



Removal of regulations on par

amount



section 10 of the regulations of insurance companies

articles of incorporation if the par amount shall be

remove the last when the company first

time of the end of March 2011 to decide on

any other amendment of the articles of Association. When such a

Regulation be removed, the indication of the simultaneously

number of shares in the company are taken into

the articles of Association.



Reservations about the solution right



section 11 Contains an insurance companies

articles of incorporation before 1 March 2011 reservations

referred to in Chapter 3. section 3 of the insurance business law

(1982:713), applies to the reservation even if it

differs from Chapter 4. section 28 of the companies act

(2005:551).



Indication of shareholders ' personal or

registration number, etc.



section 12 of the provisions in Chapter 5. 5 section 2

Swedish companies Act (2005:551) on the indication of the

shareholders ' personal or corporate

does not apply in the case of shareholders who have been

into the share register prior to april 1, 2011.



In the case of insurance company formed

prior to april 1, 2011 need task under

Chapter 5. 5 section 4 of the companies act

whether the share certificates have been issued must be provided only if

share certificates have been issued after the entry into force of

the insurance business Act (2010:2043).



section 13 the provisions of Chapter 6. section 2 of the companies act

(2005:551) on the indication of the company's

company registration and corporate category, and if

the shareholder's personal identification number, registration number

or other identifying number does not apply

share certificates have been communicated before 1 april

2011.



section 14 of the holder of a share certificate and according to

the company's note on the letter is listed as the owner

in the share register shall, even if the insertion has taken place

by the end of 1982, comparable to the

According to the second subparagraph of paragraph 13 of the Act (1936:81) if

bonds likely to be entitled to make debt

applicable, if an acquisition from him or her

occurs after the said date.



Registration and enforcement of older

a formal decision



section 15 on registration and execution of a

AGM decisions taken prior to the entry into force

of the insurance business Act (2010:2043) and at

proceedings against such decisions for older

provisions or, in the case of the decision

referred to in Chapter 16. Swedish companies Act (2005:551),

the provisions of the repealed Act (1987:464) if

certain directed placements in publicly traded companies,

accommodation



Registration and enforcement of older

Board decision



section 16 On Board prior to 1 april 2011

decisions on new share issues pursuant to Chapter 4. 16

or section 17, issuance of debt securities in accordance with Chapter 5.

9 or section 10 or reduction of share capital

According to Chapter 6. section 8 of the insurance business law

(1982:713), the older provisions at

registration and enforcement of the decision.



Division and consolidation of shares



section 17 the provisions of Chapter 4. 46-50, §§

Swedish companies Act (2005:551) does not apply in the case

If the decision on the Division or aggregation of

shares issued prior to 1 april 2011.



Auditor in insurance company



section 18 If an insurance company at the

the entry into force of the insurance business law

(2010:2043) have an auditor who does not meet the

requirements of Chapter 11. section 12 of the Act and Chapter 9.

Swedish companies Act (2005:551), the company may apply

older provisions concerning an auditor's qualifications

until the time for which the auditor has been appointed

has expired. If the auditor has been appointed for a

term exceeding four years, or until

Furthermore, the Office of auditor shall constitute

to the end of the annual general meeting held during the

the fourth financial year after the election of the auditor or,

If the time is over to the right on 1 april 2011,

to the end of the first annual general meeting held

After its entry into force. Auditors shall in

latter cases take place at the annual general meeting.



Value transfer



section 19 of the Older provisions apply in the case of

value transfer from an insurance company

or a mutual insurance company, if

the calculation shall be based on an annual report

established prior to april 1, 2011.



Redemption of minority shares



section 20 on the redemption of shares, in accordance with Chapter 15. section 8

the insurance business Act (1982:713) has been called

before July 1, 2006, the

Insurance Act, as amended by

the end of June 2006 in the case of

conditions for redemption, the determination of

the redemption amount and procedure.



section 21 Of an insurance company before 1

April 2011 has decided to issue

warrants or convertibles and the in

the issue terms provide for how

These instruments shall be treated in the context of

redemption of shares under 14 a Cape.

the insurance business Act (1982:713), these

provisions even after that time.



Fusion



section 22 of the Older provisions apply to fusion, if

the merger plan has been approved under 15 a Cape. section 11 of the

the insurance business Act (1982:713) before the

april 1, 2011. The same is true for absorption of

wholly owned subsidiary under 15 a Cape. section 18 of the same

law, if the merger plan has been drawn up before the said

date.



Liquidation and bankruptcy



section 23 of the Older provisions apply to liquidation

and bankruptcy, if the decision on bankruptcy or

liquidation has been issued prior to 1 april 2011.



Action against the insurance undertaking



section 24 A case of intervention according to

the insurance business Act (2010:2043) are assessed according to

older provisions, if the circumstances

raises the issue of intervention relating to the

the period prior to 1 april 2011. The new

the provisions shall, however, apply if they would

lead to a less rigorous intervention.



The appeal of the older decision



paragraph 25 of the Decision which has been notified prior to

the entry into force of the insurance business law

(2010:2043) subject to appeal under the old rules.




The Board's proposal to amend the articles of Association



section 26 If an insurance companies or a

mutual insurance statutes after

the end of March 2011, contrary to

the insurance business Act (2010:2043) to

the Board of Directors, unless otherwise provided by this Act,

the first ordinary general meeting then put

proposals for amendment of the articles of Association to

compliance with the insurance business Act.



Amendment of articles of incorporation before the law

date of entry into force



paragraph 27 of the general meeting, even before 1 april 2011

decide on amendment of the articles of Association to

compliance with the insurance business Act

(2010:2043). The decision shall set out to change

valid from 1 april 2011.



Special provisions for certain older firms



section 28 of the mutual insurance company

have been registered prior to the entry into force of the law

(1948:433) if the insurer does not need to

contain the words mutual or insurance.



section 29 Of the Stockholm City Fire Insurance Office

the provisions of the insurance business law

(2010:2043) for mutual insurance companies in

applicable parts. However, the Office's partners

not because it get more responsibility for

the Office's obligations than they had before the

January 1, 1904.