Statement from the NBS Bank Board's 16th meeting of 2016

05. 09. 2017 | Press Release of the NBS

The Bank Board of Národná banka Slovenska today (5 September) held its 16th meeting of 2017, chaired by Jozef Makúch, the NBS Governor.

The Bank Board discussed and approved a draft Decree of Národná banka Slovenska amending Decree No 5/2015 of Národná banka Slovenska on how to demonstrate compliance with conditions for the granting of prior approval of Národná banka Slovenska under Article 77(1) of Act No 39/2015 Coll. on insurance (and amending certain laws).

The Decree will extend the conditions with which legal entities are required to comply in order to be eligible for prior approval under Article 77(1)(a) to (c) of the Act on insurance, by requiring the submission of the results of a criminal record check of such entity. To be eligible for the prior approval, a legal entity must satisfactorily demonstrate that it will ensure sound and prudent management of the insurance or reinsurance undertaking referred to in the approval. An entity cannot be so eligible if it has committed a crime under Act No 91/2016 Coll. on criminal liability of legal entities (and amending certain laws), which lays down the grounds for criminal liability of legal entities.

The Decree will enter into force on 1 October 2017.

The Bank Board discussed and approved a draft Decree of Národná banka Slovenska amending Decree No 8/2015 of Národná banka Slovenska on how to demonstrate compliance with conditions under which undertakings not subject to a special regime may be authorised to conduct insurance business or reinsurance business.

The Decree will extend the conditions with which legal entities with a qualifying holding in an insurance or reinsurance undertaking are required to comply in order to be eligible for an authorisation to conduct insurance or reinsurance business, by requiring the submission of the results of a criminal record check of such entity. To be eligible for the authorisation, a legal entity with a qualifying holding in an insurance or reinsurance undertaking must satisfactorily demonstrate that it will ensure sound and prudent management of the undertaking. An entity cannot be so eligible if it has committed a crime under Act No 91/2016 Coll. on criminal liability of legal entities (and amending certain laws), which lays down the grounds for criminal liability of legal entities.

The Decree will enter into force on 1 October 2017.

The Bank Board discussed and approved a draft Decree of Národná banka Slovenska amending Decree No 35/5015 of Národná banka Slovenska on how insurance undertakings subject to a special regime are to demonstrate compliance with the conditions for the granting of an authorisation to conduct insurance business.

The Decree will extend the conditions with which legal entities with a qualifying holding in an insurance undertaking are required to comply in order to be eligible for an authorisation to conduct insurance business, by requiring the submission of the results of a criminal record check of such entity. To be eligible for the authorisation, a legal entity with a qualifying holding in an insurance undertaking must satisfactorily demonstrate that it will ensure sound and prudent management of the undertaking. An entity cannot be so eligible if it has committed a crime under Act No 91/2016 Coll. on criminal liability of legal entities (and amending certain laws), which lays down the grounds for criminal liability of legal entities.

The Decree will enter into force on 1 October 2017.

The Bank Board approved the notification of the issuance of a €100 gold collector coin featuring World Natural Heritage - Caves of Slovak Karst.

Designed by Roman Lugár and produced by the Kremnica Mint, the gold euro collector coin is made of gold (90%), silver (7.5%) and copper (2.5%), weighs 9.5 g and measures 26 mm in diameter. It is due to go on sale in November 2017.

The Bank Board approved the notification of the issuance of a €25 silver collector coin commemorating the 25th anniversary of the establishment of the Slovak Republic.

Designed by Pavel Károly and produced by the Kremnica Mint, the euro collector coin is made of pure silver (99.9%), weighs 31.1035 g and measures 40 mm in diameter. It is due to go on sale in January 2018.

The Bank Board approved the notification of the issuance of a €2 commemorative coin marking the 25th anniversary of the establishment of the Slovak Republic.

Due to be issued in January 2018, the commemorative coin will have the same technical parameters as normal €2 coins and will be legal tender in Slovakia and the rest of the euro area. Its national side was designed by Pavel Károly. The coin is being produced by the Kremnica Mint, with a total issuing volume of one million coins.

Jana Kováčová
Head of the Communications Section

National Bank of Slovakia
Communications Section
Imricha Karvasa 1, 813 25 Bratislava, Slovak Republic
Tel.: +421-2-5787 2142, +421-2-5865 2142, +421-2-5787 2169, +421-2-5865 2169
Internet: http://www.nbs.sk

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