Financial Business Act.pdf
Financial Business Act.pdf
Financial Business Act.pdf
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While this translation was carried out by a professional translation agency, the text<br />
is to be regarded as an unofficial translation based on the latest official Consolidated<br />
<strong>Act</strong> no. 286 of 4 April 2006. Only the Danish document has legal validity.<br />
October 2006, GlobalDenmark Translations<br />
necessitated by the specific conditions prevailing in Greenland and the Faroe Islands<br />
respectively.<br />
<strong>Act</strong> no. 1383 of 20 December 2004 contains the following entry into force and transitional<br />
provisions:<br />
17.-(1) This <strong>Act</strong> shall enter into force on 1 January 2005, cf. however subsections (2)-(4).<br />
(2) Notwithstanding section 1, no. 17, on insurance company may, until 1 July 2005, maintain<br />
insurance mediation contracts entered into before 1 January 2005.<br />
(3) Notwithstanding section 1, no. 50 8 , a person who, at the time of entry into force of this<br />
<strong>Act</strong>, is legally elected as auditor for a financial undertaking and who is not a state-authorised<br />
public accountant or a registered public accountant, may continue as auditor until expiry of the<br />
period, for which the relevant auditor is elected.<br />
(4) (Omitted)<br />
18.-(1) This <strong>Act</strong> shall not apply to the Faroe Islands and Greenland, cf. however subsections<br />
(2) and (3).<br />
(2) Sections 1, 3 and 4 may, however, be brought fully or partially into force for the Faroe<br />
Island and Greenland by Royal Decree for these parts of the Realm subject to any variations in<br />
their operation necessitated by the specific conditions prevailing in Greenland and the Faroe<br />
Islands respectively.<br />
(3) (Omitted)<br />
<strong>Act</strong> no. 1460 of 22 December 2004 contains the following entry into force and transitional<br />
provisions:<br />
3.-(1) (Omitted)<br />
(2) Section 1, nos. 2, 3, 8-12, 14, 18-20, 22-24 and 30, and section 2 shall enter into force on<br />
1 July 2005.<br />
(3) (Omitted)<br />
(4) (Omitted)<br />
4. This <strong>Act</strong> shall not extend to Greenland and the Faroe Islands, but may be brought fully or<br />
partially into force by Royal Decree for these parts of the Realm subject to any variations in<br />
their operation necessitated by the specific conditions prevailing in Greenland and the Faroe<br />
Islands respectively.<br />
EXCLUDING MINOR AMENDMENTS<br />
<strong>Act</strong> no. 387 of 30 May 2005 contains the following entry into force and transitional provisions:
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