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Banks can apply for an umbrella declaration of no-objection (umbrella DNO) for all indirect holdings acquired or to be acquired through a company or subsidiary company.
Umbrella DNOs are only possible for banks acquiring or expanding a qualifying holding in a target company under Section 3:96 of the Wft. An umbrella DNO not only covers the qualifying holding your bank wishes to acquire in the target company, but also the qualifying holdings that the target company in question already has acquired or intends to acquire.
Information Declaration of no-objection
Definition of qualifying holding
Different types of DNO
Applying for a DNO
- Clearing & Settlement Systems
- Collective investment schemes
- Electronic money institutions
- Investment firms
- Premium Pension institutions