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Decree on Provisions regarding Scope in the Wft

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Published: 01 January 2007

Latest update: 10 August 2022

The Decree on Provisions regarding Scope in the Financial Supervision Act (Besluit reikwijdtebepalingen Wft) serves to implement certain provisions from the Financial Supervision Act (Wet op het financieel toezicht) in respect of the scope of the Act regarding non-life insurers which engage in export credit insurance for account of or guaranteed by the State of the Netherlands, small-sized prepaid funeral services insurers and non-life insurers having their registered office in Switzerland. The Decree also contains rules on dispensations (in respect of inviting repayable funds) and the supervised status of financial institutions.

The Decree on Provisions regarding Scope in the Financial Supervision Act provides for:

  • an exemption from the application of certain rules for (non-life) insurers of a small size or engaging in activities as referred to in section 1:10 of the Financial Supervision Act;
  • different rules for Swiss non-life insurers as referred to in section 1:11 of the Financial Supervision Act;
  • rules for the holders of a dispensation, granted by De Nederlandsche Bank (DNB), from the prohibition referred to in section 3:5(1) of the Financial Supervision Act for institutions whose liabilities are guaranteed by an entity as referred to in section 27(1) of the Decree, and
  • rules regarding the data to be submitted with an application for a certificate of supervised status for financial institutions as referred to in section 3:110 of the Financial Supervision Act.

Basis for the regulation
Sections 1:10, 1:11, 3:5, 3:36 and 3:110 of the Financial Supervision Act

Delegated acts
Order on Designated States (Besluit aangewezen staten Wft)

Policy rules and circular letters underlain by this regulation
None

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