Regulatory Alerts2016-04-06
Added · Updated
Act of 25 March 2016 on the status and supervision of insurance and reinsurance undertakings concerning certain expedited appeal procedures before the Council of State
This Act amends the Law of 13 March 2016 on the status and supervision of insurance and reinsurance undertakings by updating references to expedited appeal procedures before the Council of State in three other statutes. Specifically, it modifies Article 68 of the Law of 6 August 1990 concerning sickness funds and Article 36/22 of the Law of 22 February 1998 concerning the organic statute of the National Bank of Belgium to replace references to the repealed Law of 9 July 1975 with the corresponding articles of the 2016 Act. It also updates Article 122 of the Law of 2 August 2002 concerning the supervision of the financial sector to align FSMA-related appeal references with the new legal framework. These changes ensure that insurance and reinsurance undertakings, as well as the National Bank and FSMA, utilize the correct statutory provisions for challenging regulatory decisions.
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