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
the board of directors, continue with such duties provided the relevant duties are notified to
the Danish FSA no later than 30 June 2004. If, as at 1 January 2004 the financial undertaking
has exposures with the undertaking for which said duties are performed, as at 1 January 2004
the exposure may continue to the originally agreed expiry date, irrespective of section 80(4).
(2) Persons covered by section 80(2), 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, or who at the date of entry
into force of this Act were not covered by section 24 of Act no. 660 of 7 August 2002 may,
without the consent of the board of management, continue with such duties provided the
relevant duties are notified to the Danish FSA no later than 30 June 2004. If, as at 1 January
2004 the financial undertaking has exposures with the undertaking for which said duties are
performed, the exposure as at 1 January 2004 may continue to the originally agreed expiry
date, irrespective of section 80(4).
(3) For undertakings in which persons covered by section 80(1) and (2), on the date of entry
into force of this Act had duties in pursuance of sections 28, 29, 34, and 35 of Act no. 660 of 7
August 2002, and with which the financial undertaking had exposures as at 1 January 2004,
such exposures as at 1 January 2004 may continue to the originally agreed expiry date,
irrespective of section 80(4).
(4) Subsections (1)-(3) shall apply correspondingly to persons covered by section 425, no. 5
and section 426, no. 11.
416. Section 163(1), no. 5 shall not apply to assets acquired before the date of introduction of
the bill to the Danish Parliament on 12 March 2003.
417. Notwithstanding the provision of section 182, financial undertakings which, on the date of
entry into force of this Act, had exposures licensed under section 27 of the Commercial Banks
and Savings Banks, etc. Act, section 63 of the Mortgage Credit Act, section 20a of the
Investment Companies Act and section 142 and 144 of the Insurance Business Act may
continue said exposures until expiry of the license by the Danish FSA, but no longer than until
the date of the financial statements submitted after entry into force of this Act.
Amendments to other legislation
418. In the Act on Protection against the Consequences of Industrial Injuries, cf. Consolidated
Act no. 943 of 16 October 2000 as amended by section 4 of Act no. 1329 of 20 December
2000, section 1 of Act no. 488 of 7 June 2001, section 4 of Act no. 503 of 7 June 2001 and
section 14 of Act no. 428 of 6 June 2002, the following amendment shall be made:
1. In section 57o ”part 7a” shall be amended to: ”part 22”.
419. In the Act on Arbejdsmarkedets Tillægspension, cf. Consolidated Act no. 689 of 20
August 2002 as amended by section 1 of Act no. 1032 of 17 December 2002 and section 4 of
Act no. 1066 of 17 December 2002 the following amendments shall be made:
EXCLUDING MINOR AMENDMENTS
1. In section 27a(2) ”section 65(2)” shall be amended to: ”section 345(2)”.
2. In section 27d ”part 7a” shall be amended to: ”part 22”.