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 />
168. The Danish FSA may grant exemptions from sections 162, 163(1), no. 5 and 164(1), nos.<br />
2-6 and section 164(1), nos. 2-7 and (2)-(6) for a limited period.<br />
169. The Danish FSA shall lay down more detailed regulations for<br />
1) limitations on securities covered by more than one of the groups of assets mentioned in<br />
section 162(1),<br />
2) location of assets and congruent currencies in relation to the insurance provisions,<br />
3) coverage of the insurance provisions for insurance contracts covered by section 166,<br />
and<br />
4) reporting, registration and verification of the existence of assets registered under<br />
section 167.<br />
Part 12<br />
Group regulations, consolidation, etc.<br />
Group regulations<br />
170.-(1) In groups where the parent undertaking is a financial holding company or a bank,<br />
the regulations for banks in section 124(1), no. 1 shall apply to the financial holding company<br />
and the group, cf. however subsections (2)-(4). The parent undertaking shall ensure<br />
compliance with these provisions. When calculating the capital base of the group, cf.<br />
section 128, deductions shall be made of capital deposited by undertakings within the group<br />
which do not form part of the consolidated statements of said group.<br />
(2) In groups where the parent undertaking is a mortgage-credit holding company or a<br />
mortgage-credit institution, the regulations for mortgage-credit institutions in section 124(1),<br />
no. 1 shall apply to the holding company and the group. The parent undertaking shall ensure<br />
compliance with these provisions. When calculating the capital base of the group, cf.<br />
section 128, deductions shall be made of capital deposited by undertakings within the group<br />
which do not form part of the consolidated statements of said group.<br />
(3) In groups where the parent undertaking is an investment holding company or an<br />
investment company, the regulations regarding investment companies in section 125(1) no. 1<br />
shall apply to the holding company and the group. The parent undertaking shall ensure<br />
compliance with these provisions. When calculating the capital base of the group, cf.<br />
section 128, deductions shall be made of capital deposited by undertakings within the group<br />
which do not form part of the consolidated statements of said group.<br />
(4) In groups where the parent undertaking is an investment management holding company<br />
or an investment management company, the regulations regarding investment management<br />
companies in section 125(1), no. 1 shall apply to the holding company and the group. The<br />
parent undertaking shall ensure compliance with these provisions. When calculating the capital<br />
base of the group, cf. section 128, deductions shall be made of capital deposited by<br />
undertakings within the group which do not form part of the consolidated statements of said<br />
group.<br />
EXCLUDING MINOR AMENDMENTS<br />
171.-(1) In groups where the parent undertaking is a bank or a bank holding company,<br />
sections 145-147, 149, 150, 152 and 182 shall also apply to the group. The parent<br />
undertaking shall ensure compliance with these provisions. When calculating the capital base
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