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 European Union in a country with which the Community has not entered into an
agreement.
(6) Owners of capital holding an interest of at least 10 per cent, and who intend to reduce said
interest so that it falls below one of the limits stipulated in subsection (1), shall give the
Danish FSA notification hereof and state the size of the intended future interest.
(7) Where a financial undertaking or a financial holding company learns of acquisitions or
sales as specified in subsections (1) and (6), said undertaking or holding company shall
immediately notify the Danish FSA hereof.
(8) Financial undertakings and financial holding companies shall, no later than February each
year, submit information to the Danish FSA of the names of the owners of capital who own
qualifying interests in the financial undertaking or the financial holding company as well as
information on the sizes of said interests.
62.-(1) Where owners of capital holding one of the interests mentioned in section 61(1) in a
financial undertaking or a financial holding company act contrary to appropriate operation of
said undertaking or holding company, the Danish FSA may order said undertaking or holding
company to follow specific guidelines and withdraw the voting rights associated with the equity
investments of the relevant owners.
(2) The Danish FSA may withdraw the voting rights associated with equity investments owned
by natural or legal persons who do not comply with the duty to submit to the Danish FSA prior
notification mentioned in section 61(1). Said equity investments shall have their full voting
rights restored if the Danish FSA is able to approve the acquisition.
(3) The Danish FSA shall withdraw the voting rights associated with equity investments owned
by natural or legal persons who have acquired equity investments as specified in section 61(1)
notwithstanding the fact that the Danish FSA has refused approval of this acquisition of equity
investments.
(4) Where the Danish FSA has withdrawn voting rights pursuant to subsections (1)-(3), the
relevant equity investment shall not be included in calculations of the voting capital present at
general meetings.
63.-(1) The Danish FSA shall be notified prior to any direct or indirect acquisition by a
financial undertaking or a financial holding company of a qualifying interest in a foreign
financial undertaking as well as of such increases in the qualifying interest which mean that
said interest comprises or exceeds a limit of 20 per cent, 33 per cent, or 50 per cent,
respectively of the voting rights or share capital of the company, or that the foreign financial
undertaking becomes a subsidiary undertaking. Such notification shall include information on
the country in which such an undertaking is established.
(2) Financial undertakings and financial holding companies holding an interest of no less than
10 per cent in a foreign financial undertaking, and which intend to reduce said interest so that
it falls below one of the limits mentioned in subsection (1) shall give the Danish FSA
notification hereof and state the size of the intended future interest.
EXCLUDING MINOR AMENDMENTS
(3) Where the foreign financial undertaking becomes a subsidiary undertaking, the notification
to the Danish FSA shall include the following information on the subsidiary undertaking: