Regulatory Alerts2004-07-07
Ordinance No. 17 of 07.07.2004 on Documents Required for Issuing a Permit for the Transformation of Pension Insurance Companies and Additional Pension Funds and Requirements for Plans
The Commission for Financial Supervision issued Ordinance No. 17 to establish the specific documents and content requirements necessary for obtaining permits for the transformation, merger, absorption, division, or separation of pension insurance companies and their managed funds. The regulation mandates detailed submissions including transformation agreements, expert valuations, financial reports, and actuarial calculations to ensure the protection of insured persons' rights and the financial stability of the entities involved. It further specifies the procedural requirements for voluntary termination and insolvency plans, ensuring comprehensive oversight of all structural changes within the pension insurance sector.
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