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.
6) ”Finance institution” shall mean:
October 2006, GlobalDenmark Translations
An undertaking which is not a credit institution and the main activity of which consists of
acquiring equity investments or in carrying out one or more of the activities specified in
annex 2, nos. 2-12.
7) ”Parent undertaking” shall mean:
An undertaking that
a) holds the majority of the voting rights of an undertaking,
b) holds shares or other interests in the own funds of an undertaking (is a shareholder)
and is entitled to appoint or remove a majority of the board of directors, board of
management or similar management organ of the undertaking,
c) participates in the undertaking and is entitled to exercise a controlling influence on the
undertaking under the articles of association or other agreements with said
undertaking,
d) participates in the undertaking and commands the majority of the voting rights within
the undertaking under agreements with other shareholders or owners of shares of the
own funds within said undertaking, or
e) holds equity investments in an undertaking and exercises a controlling influence on said
undertaking.
8) ”Subsidiary undertaking” shall mean:
An undertaking with which a parent undertaking, directly or indirectly, has one of the links
specified in no. 7.
9) ”Group” shall mean:
A parent undertaking and its subsidiary undertakings.
10) ”Financial holding company” shall mean:
a) A parent undertaking, which is not a financial undertaking, of a group where no less
than one of the subsidiary undertakings of said group is a financial undertaking, and
where no less than 40 per cent of the balance sheet total of the group and the parent
undertaking’s associated undertakings pertains to the financial sector, cf. however
subsection (8), or
b) a parent undertaking whose activity exclusively or mainly consists of ownership of
equity investments in subsidiary undertakings which are financial undertakings or
finance institutions, and where at least one subsidiary undertaking is a financial
undertaking.
11) ”Bank holding company” shall mean:
EXCLUDING MINOR AMENDMENTS
A parent undertaking whose activity exclusively or mainly consists of ownership of equity
investments in subsidiary undertakings which are credit institutions or finance institutions,
and where the main activity of the group is to carry out bank activities.