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
20. In section 37a(1), which becomes subsection (2), ”section 37(1), 1st clause” shall be
amended to: ”subsection (1)”.
21. In section 37a(2), which becomes subsection (3), ”Internal rules laid down pursuant to
subsection (1)” shall be amended to: ”Internal rules laid down pursuant to subsection (2)”.
22. In section 50(7), section 57b(1),(2) and (5) and sections 57c and 57e ”a payment system
registered pursuant to section 57a” shall be amended in six places to: ”a registered payment
system”.
23. In section 55(2), ”a payment system registered pursuant to section 57a” shall be amended
to: ”a registered payment system”.
24. In section 57(1) ”a payment system covered by section 57a” shall be amended to: ”a
registered payment system”.
25. In section 57(4) ”and (3)” shall be omitted.
26. In sections 57a(3), 87(6) and 96(2), ”a payment system” shall be amended to: ”a
registered payment system”.
27. In sections 57a(4) and 95(1), ”a payment system's” shall be amended to: ”a registered
payment system's”.
28. Section 62 shall be worded as follows:
”62.-(1) Apart from the central securities depository concerned, the following accountholding
institutions shall have the right to effect registration with a central securities
depository on its behalf and with legal effect pursuant to sections 66-75:
1) financial undertakings licensed as banks or investment companies,
2) financial undertakings licensed as mortgage-credit institutions or investment
management companies to the extent that such undertakings are licensed under
section 9(1) of the Financial Business Act,
3) undertakings, jointly managed by these financial undertakings for the purpose of
managing securities,
4) Danmarks Nationalbank (Denmark's central bank)
5) the Danish Agency for Governmental Management,
6) clearing centres, and
7) bond-issuing institutions as regards investment securities issued by the institution in
question.
(2) Credit institutions, investment firms and management companies, which have been
granted a license in another country within the European Union or a country with which the
Community has entered into an agreement for the financial area, shall be authorised to effect
registration, cf. subsection (1), if such institution, firm or company legally carries out securities
trading either through a branch or by providing services in Denmark, cf. sections 30 and 31
respectively of the Financial Business Act.
EXCLUDING MINOR AMENDMENTS
(3) Credit institutions and investment companies, which have been granted a license in a
country outside the European Union or a country with which the Community has not entered
into an agreement for the financial area, shall be authorised to effect registration, cf.