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
information); European Parliament and Council Directive 2001/17/EC of 19 March 2001,
Official Journal L 110, p. 28 (Insurers Reorganisation and Winding-Up Directive); European
Parliament and Council Directive 2001/24/EC of 4 April 2001, Official Journal L 125, p. 15
(Winding-Up of Credit Institutions Directive); European Parliament and Council Directive
2001/107/EC of 21 January 2002, Official Journal L 41, p. 20 (Service Providers' Directive);
European Parliament and Council Directive 2002/13/EC of 5 March 2002, Official Journal L 77,
p. 17 (Solvency 1 Directive); and the directives 79/267, 90/619, 92/96 and 2002/12, which
are now consolidated in the European Parliament and Council Directive 2002/83/EC of 5
November 2002, Official Journal L 345, p. 1 (Life -Assurance Directive); European Parliament
and Council Directive 2002/87/EC of 16 December 2002, (Official Journal 2003 L 35, p. 1)
(Financial Conglomerates Directive); parts of European Parliament and Council Directive
2002/92/EC of 9 December 2002, Official Journal 2003 L 9, p. 3 (Directive on Insurance
Mediations).
See also Annex 9.
2 Pursuant to section 85 of Act no. 431 of 6 June 2005, the amendment of this provision shall
enter into force on 1 November 2005.
3 Pursuant to section 85 of Act no. 431 of 6 June 2005, this provision shall enter into force on
1 November 2005.
4 Pursuant to section 85 of Act no. 431 of 6 June 2005, the amendment of this provision shall
enter into force on 1 November 2005.
5 Pursuant to section 85 of Act no. 431 of 6 June 2005, this provision shall enter into force on
1 November 2005.
6 The Act was published in the Danish Law Gazette A on 18 November 2003.
7 The Act was published in the Danish Law Gazette A on 10 June 2004.
8 Section 1, no. 50 of Act no. 1383 of 20 December 2004 deals with section 199(1), 2nd clause
of the Financial Business Act.
9 By virtue of Executive Order no. 391 of 30 May 2005 on the entry into force of Act. no. 387
of 30 May 2005 on the amendment of the "lov om et skibsfinansieringsinstitut" (act on a ship
financing institution), the Financial Business Act, the "lov om fusion, spaltning og tilførsel af
aktiver m.v." (tax on mergers, demergers and investment of assets, etc.), the "lov om
skattemæssig behandling af gevinst og tab på fordringer og gæld og finansielle kontrakter"
(act on taxation of gains and losses on claims and debt as well as financial contracts) and the
"lov om indkomstbeskatning af aktieselskaber m.v. (act on taxation of income of limited
companies, etc.), the Minister for Economic and Business Affairs stipulated that this Act
entered into force on 1 June 2005.
10 Section 2, no. 12 of Act no. 411 of 1 June 2005 deals with sections 384 and 385 of the
Financial Business Act.
EXCLUDING MINOR AMENDMENTS