By-laws of the Deposit Protection Fund

that it is not responsible for the occurrence of the event in question or the
breach of duties is non-material (subsection 4).
(b) Fines shall be issued based on a decision by the Deposit Protection
Committee in consultation with the Senior Manager responsible for the
Fund. The decision to impose a fine shall be made after hearing the bank
concerned.
(c) Fines shall amount, in each individual case, to a maximum of the calculated
annual contribution for the current year as determined by the standard
assessment factor, but not more than EUR 250,000. The following factors are
to be taken into account when deciding to impose a fine and determining
the amount of said fine: the type, severity and duration of the breach of
duty, the resulting detriments to the Banking Association and/or the Fund
and any unreasonable hardships for the bank in question. Any penalty
surcharge to be paid as a result of a breach of duty as pursuant to Section
5a (12) is to be credited against payment of an imposed fine.
(d) A decision of the Deposit Protection Committee concerning the imposition
of a fine shall be communicated to such bank in writing; the decision shall
become effective upon receipt thereof by the bank.
8. The following rules shall apply to exclusion from participation in the Fund
pursuant to subsection 2 (d):
(a) The bank must be warned that they are in danger of being excluded from
the Fund six months in advance. The breach of duty must be listed in the
warning. In the warning, the bank is to be charged, within the notice period
pursuant to sentence 1, with complying with its duties or proving that it is
not responsible for the occurrence of the event in question or the breach
of duties is non-material (subsection 4).
(b) The provisions in Section 4 (4) and (5) apply accordingly, whereby the Senior
Manager responsible for the Fund must be consulted before a decision is made.
By-laws Section 12
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