Financial Business Act.pdf

More documents

Recommendations

Info

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 <strong>Act</strong> no. 286 of 4 April 2006. Only the Danish document has legal validity. October 2006, GlobalDenmark Translations 168. The Danish FSA may grant exemptions from sections 162, 163(1), no. 5 and 164(1), nos. 2-6 and section 164(1), nos. 2-7 and (2)-(6) for a limited period. 169. The Danish FSA shall lay down more detailed regulations for 1) limitations on securities covered by more than one of the groups of assets mentioned in section 162(1), 2) location of assets and congruent currencies in relation to the insurance provisions, 3) coverage of the insurance provisions for insurance contracts covered by section 166, and 4) reporting, registration and verification of the existence of assets registered under section 167. Part 12 Group regulations, consolidation, etc. Group regulations 170.-(1) In groups where the parent undertaking is a financial holding company or a bank, the regulations for banks in section 124(1), no. 1 shall apply to the financial holding company and the group, cf. however subsections (2)-(4). The parent undertaking shall ensure compliance with these provisions. When calculating the capital base of the group, cf. section 128, deductions shall be made of capital deposited by undertakings within the group which do not form part of the consolidated statements of said group. (2) In groups where the parent undertaking is a mortgage-credit holding company or a mortgage-credit institution, the regulations for mortgage-credit institutions in section 124(1), no. 1 shall apply to the holding company and the group. The parent undertaking shall ensure compliance with these provisions. When calculating the capital base of the group, cf. section 128, deductions shall be made of capital deposited by undertakings within the group which do not form part of the consolidated statements of said group. (3) In groups where the parent undertaking is an investment holding company or an investment company, the regulations regarding investment companies in section 125(1) no. 1 shall apply to the holding company and the group. The parent undertaking shall ensure compliance with these provisions. When calculating the capital base of the group, cf. section 128, deductions shall be made of capital deposited by undertakings within the group which do not form part of the consolidated statements of said group. (4) In groups where the parent undertaking is an investment management holding company or an investment management company, the regulations regarding investment management companies in section 125(1), no. 1 shall apply to the holding company and the group. The parent undertaking shall ensure compliance with these provisions. When calculating the capital base of the group, cf. section 128, deductions shall be made of capital deposited by undertakings within the group which do not form part of the consolidated statements of said group. EXCLUDING MINOR AMENDMENTS 171.-(1) In groups where the parent undertaking is a bank or a bank holding company, sections 145-147, 149, 150, 152 and 182 shall also apply to the group. The parent undertaking shall ensure compliance with these provisions. When calculating the capital base
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 <strong>Act</strong> no. 286 of 4 April 2006. Only the Danish document has legal validity. October 2006, GlobalDenmark Translations of the group, cf. section 128, deductions shall be made of capital deposited by undertakings within the group which do not form part of the consolidated statements of said group. (2) The Danish FSA may stipulate that subsection (1) and section 170 (1) shall apply in other cases where banks alone or jointly have such direct or indirect links to an undertaking that application of the regulations specified is deemed necessary. 172.-(1) In groups where the parent undertaking is a mortgage-credit institution or a mortgage-credit holding company, sections 145-147, 155 and 182 shall also apply to the group, cf. however subsection (2). The parent undertaking shall ensure compliance with these provisions. When calculating the capital base of the group, cf. section 128, deductions shall be made of capital deposited by undertakings within the group which do not form part of the consolidated statements of said group. (2) The Danish FSA may stipulate that subsection (1) and section 170 (2) shall apply in other cases where mortgage-credit institutions alone or jointly have such direct or indirect links to an undertaking that application of the regulations specified is deemed necessary. 173.-(1) In groups where the parent undertaking is an investment company or an investment holding company, sections 145-147, 156 and 182 shall also apply to the group. The parent undertaking shall ensure compliance with these provisions. When calculating the capital base of the group, cf. section 128, deductions shall be made of capital deposited by undertakings within the group which do not form part of the consolidated statements of said group. (2) The Danish FSA may stipulate that subsection (1) and section 170 (3) shall apply in other cases where investment companies alone or jointly have such direct or indirect links to an undertaking that application of the regulations specified is deemed necessary. 174.-(1) In groups where the parent undertaking is an investment management holding company or an investment management company, sections 145-147, 156 and 182 shall also apply to the group. The parent undertaking shall ensure compliance with these provisions. When calculating the capital base of the group, cf. section 128, deductions shall be made of capital deposited by undertakings within the group which do not form part of the consolidated statements of said group. (2) The Danish FSA may stipulate that subsection (1) and section 170 (4) shall apply in other cases where investment management companies alone or jointly have such direct or indirect links to an undertaking that application of the regulations specified is deemed necessary. 175. The Danish FSA may stipulate that section 145 shall apply to groups where the parent undertaking is a financial holding company other than an investment holding company, investment management holding company, bank holding company, or mortgage-credit holding company. 175a.-(1) Groups where the parent undertaking is a financial holding company or a financial undertaking shall, once a year, report all exposures, cf. section 5(1), no. 16, exceeding 10 per cent of the group's capital base. EXCLUDING MINOR AMENDMENTS (2) The Danish FSA shall lay down more detailed regulations for reporting under subsection (1).
Page 1 and 2:
While this translation was carried
Page 3 and 4:
Page 5 and 6:
Page 7 and 8:
Page 9 and 10:
Page 11 and 12:
Page 13 and 14:
Page 15 and 16: While this translation was carried
Page 65: While this translation was carried
Page 117 and 118:
Page 119 and 120:
Page 121 and 122:
Page 123 and 124:
Page 125 and 126:
Page 127 and 128:
Page 129 and 130:
Page 131 and 132:
Page 133 and 134:
Page 135 and 136:
Page 137 and 138:
Page 139 and 140:
Page 141 and 142:
Page 143 and 144:
Page 145 and 146:
Page 147 and 148:
Page 149 and 150:
Page 151 and 152:
Page 153 and 154:
Page 155 and 156:
Page 157 and 158:
Page 159 and 160:
Page 161 and 162:
Page 163 and 164:
Page 165 and 166:
show all

Financial Business Act.pdf

Create successful ePaper yourself

Delete template?

Save as template?