Financial Business Act.pdf

While this translation was carried out by a professional translation agency, the text
is to be regarded as an unofficial translation based on the latest official Consolidated
Act no. 286 of 4 April 2006. Only the Danish document has legal validity.
October 2006, GlobalDenmark Translations
b) for insurance classes 10-13: EUR 0.4 million for limited companies and EUR 0.3
million for mutual companies,
c) for insurance classes 1-8, 16 and 18: EUR 0.3 million for limited companies and
EUR 0.225 million for mutual companies, and
d) for insurance classes 9 and 17: EUR 0.2 million for limited companies and EUR
0.15 million for mutual companies.
409.-(1) Until 1 January 2007, mutual non-life assurance companies may include an
additional amount for possible supplementary premiums, cf. section 135(1), no. 6, without
application to the Danish FSA.
(2) Additional amounts for possible supplementary premiums may be included at a maximum
amount corresponding to the amount at which they were included in the capital base at the
end of 2001.
(3) Additional amounts for possible supplementary premiums may be included until the end of
2008.
410.-(1) Section 147(1) of this Act shall not apply to investment companies if all properties
and shares (equity investments) in real-property companies have been acquired before 8
October 1998.
(2) Assets covered by subsection (1) may not be revalued at a higher book value than the
book value of the assets on 8 October 1998.
411.-(1) Section 147(1) shall not apply to investment management companies if all
properties and shares (equity investments) in real-property companies have been acquired
before introduction of the bill to the Danish Parliament on 12 March 2003.
(2) Assets covered by subsection (1) may not be revalued at a higher book value than the
book value of the assets at the time of introduction of the bill to the Danish Parliament on 12
March 2003.
412. Banks that, at the entry into force of this Act, have schemes according to which
shareholders exercise their voting rights at the general meeting through members of the
shareholder committee in pursuance of section 8a of the Commercial Banks and Savings
Banks, etc., Act, cf. Consolidated Act no. 654 of 7 August 2002 may continue such schemes.
413. Any accumulated profits, cf. part 22 of this Act, to be carried forward at the end of 2001
shall be charged as extra fees from the financial undertakings and financial holding companies
over the course of four years. These fees shall be distributed proportionately between the
undertakings paying more than the minimum fee.
414. Persons, who on the date of entry into force of this Act, were not covered by the ban in
section 19(1) of Act no. 660 of 7 August 2002 may, notwithstanding the provisions of section
77(3), section 425, no. 15 and section 426, no. 9, maintain positions taken out before 1
January 2004.
EXCLUDING MINOR AMENDMENTS
415.-(1) Persons covered by section 80(1), who on the date of entry into force of this Act had
duties in pursuance of section 24 of Act no. 660 of 7 August 2002 may, without the consent of