Regulatory Alerts2015-01-01
Opinion of the Croatian Financial Services Supervisory Agency on the Application of Article 21 of the Factoring Act - Activities of a Factoring Company
The Croatian Financial Services Supervisory Agency (HANFA) issued an opinion clarifying that a factoring company may only conduct core factoring activities upon receiving specific approval from HANFA. The agency determined that ancillary activities listed in Article 21(2) of the Factoring Act, such as credit analysis and debt collection, do not require separate HANFA approval and can be registered based on the company's founding act. This ruling establishes that HANFA holds exclusive competence for issuing factoring licenses while other related business operations are governed by general corporate registration rules.
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