natgillin/translations-raw huggingface dataset:
(a) v primeru stečaja ali likvidacije zavarovalnice morajo obstajati zavezujoče pogodbe, po katerih sta podrejeni dolžniški kapital ali prednostni osnovni kapital uvrščena za terjatvami vseh drugih upnikov in se ne vrneta, dokler niso poravnani vsi drugi dolgovi, ki so takrat neporavnani.
(a) in the event of the bankruptcy or liquidation of the assurance undertaking, binding agreements must exist under which the subordinated loan capital or preferential share capital ranks after the claims of all other creditors and is not to be repaid until all other debts outstanding at the time have been settled.
Podrejeni dolžniški kapital mora izpolnjevati tudi naslednje pogoje:
Subordinated loan capital must also fulfil the following conditions:
(b) upošteva se lahko samo v celoti vplačani kapital;
(b) only fully paid-up funds may be taken into account;
(c) za posojila z določeno dospelostjo mora biti prvotna dospelost najmanj pet let.
(c) for loans with a fixed maturity, the original maturity must be at least five years.
Najpozneje eno leto pred dnevom vračila mora zavarovalnica pristojnim organom predložiti v odobritev načrt, ki kaže, kako bo ob dospelosti minimalni kapital ohranila ali spravila na zahtevano raven, razen če se obseg, do katerega je posojilo lahko sestavina minimalnega kapitala, v najmanj zadnjih petih letih pred dnevom vračila postopno zmanjša.
No later than one year before the repayment date the assurance undertaking must submit to the competent authorities for their approval a plan showing how the solvency margin will be kept at or brought to the required level at maturity, unless the extent to which the loan may rank as a component of the solvency margin is gradually reduced during at least the last five years before the repayment date.
Pristojni organi lahko dovolijo predčasno vračilo takih posojil, če zavarovalnica izdajateljica vloži prošnjo in če se njen minimalni kapital ne bo znižal pod zahtevano raven;
The competent authorities may authorize the early repayment of such loans provided application is made by the issuing assurance undertaking and its solvency margin will not fall below the required level;
(d) posojila, pri katerih dospelost ni določena, morajo biti vračljiva samo ob petletnem odpovednem roku, razen če posojila nič več ne veljajo kot sestavina minimalnega kapitala ali če se izrecno zahteva predhodno soglasje pristojnih organov za predčasno vračilo.
(d) loans the maturity of which is not fixed must be repayable only subject to five years' notice unless the loans are no longer considered as a component of the solvency margin or unless the prior consent of the competent authorities is specifically required for early repayment.
V zadnjem primeru mora zavarovalnica pristojne organe obvestiti najmanj šest mesecev pred dnevom predlaganega vračila in natančno navesti dejanski in zahtevani minimalni kapital pred vračilom in po njem.
In the latter event the assurance undertaking must notify the competent authorities at least six months before the date of the proposed repayment, specifying the actual and required solvency margin both before and after that repayment.
Pristojni organi vračilo dovolijo samo, če se minimalni kapital zavarovalnice ne bo znižal pod zahtevano raven;
The competent authorities shall authorize repayment only if the assurance undertaking's solvency margin will not fall below the required level;
(e) posojilna pogodba ne sme vsebovati nobene klavzule, ki bi določala, da v določenih okoliščinah razen pri prenehanju zavarovalnice dolg postane vračljiv pred dogovorjenimi datumi vračila;
(e) the loan agreement must not include any clause providing that in specified circumstances, other than the winding-up of the assurance undertaking, the debt will become repayable before the agreed repayment dates;
(f) posojilna pogodba se lahko spremeni samo, ko pristojni organi izjavijo, da spremembi ne nasprotujejo,
(f) the loan agreement may be amended only after the competent authorities have declared that they have no objection to the amendment,
– vrednostni papirji, pri katerih dospelost ni določena, in drugi instrumenti, ki izpolnjujejo naslednje pogoje, vključno s kumulativnimi prednostnimi delnicami razen delnic, ki so navedene v peti alineji, do 50 % za skupno vrednost takih vrednostnih papirjev in podrejenega dolžniškega kapitala iz prejšnje alinee:
- securities with no specified maturity date and other instruments that fulfil the following conditions, including cumulative preferential shares other than those mentioned in the preceding indent, up to 50 % of the margin for the total of such securities and the subordinated loan capital referred to in the preceding indent:
(a) ne smejo se vrniti na pobudo prinositelja ali brez predhodnega soglasja pristojnih organov;
(a) they may not be repaid on the initiative of the bearer or without the prior consent of the competent authority;
(b) pogodba o izdaji mora omogočati, da zavarovalnica plačilo obresti od posojila odloži;
(b) the contract of issue must enable the assurance undertaking to defer the payment of interest on the loan;
(c) posojilodajalčeve terjatve morajo biti v celoti uvrščene za terjatvami vseh nesubordiniranih upnikov;
(c) the lender's claims on the assurance undertaking must rank entirely after those of all non-subordinated creditors;
(d) dokumenti, ki urejajo izdajo vrednostnih papirjev, morajo zagotavljati sposobnost dolga za pokritje izgube in neplačane obresti, ter omogočati nadaljnje poslovanje zavarovalnice;
(d) the documents governing the issue of the securities must provide for the loss-absorption capacity of the debt and unpaid interest, while enabling the assurance undertaking to continue its business;
(e) upoštevajo se lahko samo v celoti vplačani zneski.“
(e) only fully paid-up amounts may be taken into account.'
Zahteva glede minimalnega kapitala : na ravni Združenega kraljestva oddelek 32(1) Zakona o zavarovalnicah iz leta 1982, kakor je bil spremenjen, zahteva, da vsaka zavarovalnica (za katero velja del II zakona) s sedežem v Združenem kraljestvu „vzdržuje minimalni kapital v višini, ki se predpiše ali določi v skladu s predpisi, določenimi za namene tega oddelka“, znan kot zahtevana najnižja stopnja.
The solvency margin requirement : at UK level, section 32(1) of the ICA 1982, as amended, requires every insurance company (to which Part II of the Act applies) whose head office is in the UK to “maintain a margin of solvency of such amount as may be prescribed by or determined in accordance with regulations made for the purpose of this section”, known as the Required Minimum Margin (RMM).
Oddelek 32(5)(a) zakona opredeli minimalni kapital zavarovalnice kot „presežek vrednosti sredstev glede na višino obveznosti, pri čemer se ta vrednost in znesek določita v skladu z vsemi veljavnimi predpisi o vrednotenju“.
Section 32(5)(a) of the Act d e fines the margin of solvency of an insurance company as “the excess of the value of its assets over the amount of its liabil i ties, that value and amount being determined in accordance with any applicable valuation regulations”.
Zakon ne določa višine zahtevane najnižje stopnje, prav tako ne vsebuje določb o njeni sestavi, zaradi česar obe vprašanji ostajata predmet predzakonskih aktov.
The Act does not stipulate the amount of the RMM nor any provision on its composition, leaving both issues to be specified by statutory instruments.
V skladu z direktivo mora zavarovalnica vzdrževati minimalni kapital vsaj v višini zahtevane najnižje stopnje ves čas in ne le ob koncu leta.
In line with the Directive, the insurance company is obliged to maintain a margin of solvency at least equal to the RMM at all times and not just at the year end.
Zahtevana najnižja stopnja podjetja, ki se ukvarja z dolgoročnimi dejavnostmi, je višja stopnja od:
The RMM of a company carrying on long-term business is the greater of:
§ minimalnega zajamčenega sklada (ki je v primeru družbe za vzajemno življenjsko zavarovanje 600 000 EUR),
§ the Minimum Guaranteed Fund (which, in the case of a mutual life insurer company, is EUR 600,000)
§ zahtevanega minimalnega kapitala.
§ the Required Margin of Solvency (RMS).
Sestava minimalnega kapitala: tretja direktiva o življenjskem zavarovanju določa, da mora biti minimalni kapital sestavljen iz sredstev, prostih vseh predvidljivih obveznosti, znanih tudi kot eksplicitna sredstva, in izjemoma iz implicitnih ali neopredmetenih sredstev, če to dovoli pristojni organ.
Composition of the solvency margin: the 3LD prescribes that the solvency margin must be represented by assets free of any foreseeable liabilities, also known as ‘explicit assets’ and, exceptionally, by ‘implicit’ or ‘intangible’ assets, provided an authorization from the competent authority is obtained.
Implicitne postavke so neopredmetena sredstva dolgoročnih skladov, ki izhajajo iz prenizko ocenjenih sredstev ali previsoko ocenjenih obveznosti.
Implicit items are assets of a long-term fund which are intangible and result from the underestimation of assets or the overestimation of liabilities.
Predpisi o zavarovalnicah iz leta 1994 prav tako razlikujejo med eksplicitnimi in implicitnimi postavkami.
Insurance Companies Regulations 1994 also differentiates between explicit and implicit items.
Odstavek (3) predpisa 22 zahteva, da vsaj 50 % sredstev zajamčenega sklada, ki krijejo zahtevano najnižjo stopnjo podjetja (ali, če je višji, 100 % minimalnega zajamčenega sklada), krijejo eksplicitna sredstva.
Paragraph (3) of Regulation 22 requires that, of the assets covering a company’s RMM, at least 50% of the Guarantee Fund (or, if greater, 100% of the Minimum Guarantee Fund) be covered by ‘explicit assets’.
Eksplicitna sredstva so vse vrste sredstev, razen implicitnih postavk, ki so izrecno navedena v predpisih.
Explicit assets are all types of assets other than implicit items, which are expressly mentioned by the Regulations.
Glede na odstavek (1) predpisa 22 je zajamčeni sklad enak eni tretjini zahtevane najnižje stopnje.
According to Paragraph (1) of Regulation 22, the Guarantee Fund is equivalent to one-third of the RMM.
Zato je učinek predpisa 22 tak, da morajo eno šestino zahtevane najnižje stopnje kriti eksplicitna sredstva, medtem ko preostalih pet šestin zahtevane najnižje stopnje krijejo implicitne postavke.
Therefore, the effect of Regulation 22 is that one-sixth of the RMM must be covered by explicit assets, while the remaining five-sixths of the RMM may be covered by implicit items.
Predpisi o zavarovalnicah iz leta 1994 ne vključujejo določbe, ki našteva eksplicitne in implicitne postavke, iz katerih je lahko sestavljen razpoložljivi minimalni kapital.
Insurance Companies Regulations 1994 do not include a provision that lists the explicit and implicit items the available solvency margin may consist of.
Vendar vključujejo številne predpise, ki določajo, kako vrednotiti sredstva in obveznosti.
However, they do include a number of regulations that prescribe how assets and liabilities must be valued.
Vsako sredstvo, ki ni navedeno v predpisih o vrednotenju, razen gotovine (npr. zlato ali blago), se obravnava kot sredstvo brez vrednosti in se zato pri izračunih ne sme upoštevati.
Any asset not mentioned in the valuation regulations other than cash (e.g. gold or commodities) is treated as having no value and therefore must be excluded from the calculations.
Potem ko se sredstva ovrednotijo po predpisih o vrednotenju sredstev, je treba vsako kategorijo sredstev primerjati z mejami sprejemljivosti, določenimi v predpisih, ki za razdelitev tveganja omejujejo vrednost vsake kategorije sredstev, ki jih je mogoče upoštevati za kritje obveznosti podjetja.
Once the assets are valued in accordance with the valuation of assets regulations, each category of assets must then be compared to the admissibility limits prescribed by the regulations, which, in order to spread the risk, limit the value of each category of assets that can be taken into account to cover the company’s liabilities.
Vrednost sredstev, ki presega obveznosti, ki jih je mogoče upoštevati za izpolnitev zahtev družbe glede solventnosti, je predmet nadaljnjih omejitev, ki jih določa predpis 23 iz Predpisov o zavarovalnicah iz leta 1994.
The value of the assets that exceeds the liabilities that can be taken into account to meet the company’s solvency requirements is subject to further limitations, which are laid down by Regulation 23 of the Insurance Companies Regulations 1994.
Predpis 23(2) dopušča, da se vrednoti polovica zneska neplačanega kapitala, dokler se ne izplača četrtina kapitala (podobne določbe veljajo tudi za vzajemna zavarovanja).
Regulation 23(2) allows half the amount of unpaid capital to be valued so long as a quarter of the capital is paid up (with analogous provisions for a mutual).
Predpis 23(4) dopušča zavarovalnici za vzajemna življenjska zavarovanja, ki opravlja splošne dejavnosti, da ovrednoti nevplačane prispevke, za katere veljajo omejitve iz pododstavkov (a) in (b).
Regulation 23(4) allows a mutual carrying on general business to value uncalled contributions, subject to the restrictions in subparagraphs (a) and (b).
V skladu z direktivo predpisi iz leta 1994 določajo, da se lahko podrejeni dolžniški kapital upošteva pri solventnosti, če je obveznost plačila dolgov podrejena pravicam zavarovancev in se pridobi nalog iz oddelka 68.
In line with the Directive, the 1994 Regulations prescribe that subordinated loan capital can count for solvency purposes if the obligation to repay the loan is subordinated to the rights of policyholders and a section 68 Order is obtained.
Implicitna sredstva iz predpisov iz leta 1994 so prihodnji dobički, zilmerjeve rezerve in skrite rezerve.
The implicit assets mentioned by the 1994 Regulations are future profits, zillmerising and hidden reserves.
V skladu z zahtevami direktive je vključitev implicitnih postavk v izračun minimalnega kapitala predmet prejšnjih dovoljenj pristojnega organa, kot določa oddelek 68 Zakona o zavarovalnicah.
In line with the Directive’s requirements, the inclusion of implicit items in the calculation of the margin of solvency is subject to the previous authorisation of the competent authority, as prescribed by section 68 of the ICA .
Med izvajanjem tretje direktive o življenjskem zavarovanju je Ministrstvo za trgovino in industrijo izdalo bonitetne smernice, ki vsebujejo dodatne specifikacije o uporabi implicitnih sredstev za solventnost ter o uporabi diskrecijske pravice, ki jo daje oddelek 68 zakona s strani ministrstva v zvezi s tem vprašanjem.
At the time of the implementation of the Third Life Directive, the Secretary of State of the DTI issued a Prudential Guidance providing further specifications on the use of implicit assets for solvency purposes and on the use by the Secretary of State of the discretion granted by section 68 of the Act in relation to this issue.
Smernica določa, da so bili, medtem ko so bili nalogi v zvezi s prihodnjimi dobički in zilmerjevimi rezervami takoj na voljo, če so bili izpolnjeni določeni pogoji, nalogi v zvezi s skritimi rezervami izdani le kot izredni ukrep.
The Guideline stated that while orders in respect of future profits and zillmerising were readily available provided the relevant conditions were met, Orders in respect of hidden reserves were only given as an exceptional measure.
Zilmerjeve rezerve in skrite rezerve: Ustvarjanje zilmerjevih rezerv je postopek, pri katerem se zavarovalno-tehnična ocena prilagodi dolgoročnemu poslovanju, da se upošteva prihodnja izterjava stroškov pridobivanja novih poslov.
Zillmerising and hidden reserves: zillmerisation is a process whereby an adjustment is made in the actuarial valuation of long-term business to take account of the future recovery of the costs of acquiring new business.
Zilmerjeva prilagoditev dopušča, da se začetni stroški, ki jih ima podjetje pri sklepanju novih poslov, razporedijo skozi celotno življenjsko dobo police v sorazmerju z zadevnimi premijami.
The Zillmer adjustment allows for the initial expenses incurred by a company when writing new business to be spread over the lifetime of the policy in proportion to the premiums due.
Na ta način se začetni stroški izravnajo s prihodnjimi prihodki iz te police.
In this way the initial costs are offset against the future income arising from that policy.
Zilmerjeve prilagoditve se uporabljajo le pri policah, pri katerih se plačujejo redne premije.
Zillmer adjustments are applied only to policies where regular premiums are payable.
Pravila, ki predpisujejo višino zahtevane najnižje stopnje in sprejemljivost sredstev, so zajeta v Predpisih o zavarovalnicah iz leta 1994.
The rules that prescribe the amount of the required minimum margin and the admissibility of assets are contained in the Insurance Companies Regulations 1994.
Glede na ta pravila se za različne vrste obveznosti zahteva različen kapital, pri čemer je zahtevana najnižja stopnja vsota vseh zadevnih stopenj.
According to those rules, different margins are required for different type of liabilities, the required minimum margin being the aggregate of all the margins in question.
V skladu z direktivo predpis 26 iz Predpisov iz leta 1994 določa, da se lahko skrite rezerve, če niso izredne po naravi, ki nastanejo zaradi prenizke ocene sredstev ali previsoke ocene obveznosti (razen matematičnih rezervacij) polno upoštevajo za potrebe solventnosti.
In line with the Directive, Regulation 26 of the 1994 Regulations prescribe that, in so far as they are not of an exceptional nature, hidden reserves resulting from the underestimation of assets and overestimation of liabilities (other than mathematical reserves), may be given full value for solvency purposes.
Člen 25 določa obveznost, da zakonodajalec od vsake zavarovalnice zahteva, da ima ves čas ustrezen razpoložljivi minimalni kapital glede na svojo celotno poslovno dejavnost.
Article 25 imposes the obligation on the regulator to require from every assurance company an adequate available solvency margin in respect of its ‘entire business’ at all times.
Koncept se zato še tretjič izrecno ponovi.
The concept is therefore explicitly reiterated for the third time.
Minimalni kapital morajo predstavljati sredstva, prosta vseh predvidljivih obveznosti.
The solvency margin must be represented by assets free of any foreseeable liabilities.
Je bil minimalni kapital družbe ELAS „ves čas zadosten“?
Was ELAS solvency margin ‘adequate at all times’?
Analizirati je treba dve vprašanji: nerezerviranje diskrecijskih bonusov ter uporaba prihodnjih dobičkov in ustvarjanje zilmerjevih rezerv.
There are two issues to be analyzed: the non-reserving of discretionary bonuses, and the use of future profits and Zillmerisation.
Nerezerviranje diskrecijskih bonusov, povezava s členoma 10 in 18
Non-reserving of discretionary bonuses, link to Articles 10 and 18
Kot je podrobno razloženo v oddelkih o členih 8, 10 in 18, družba ELAS ni ustvarila rezerv za diskrecijske bonuse, zaradi česar teh obveznosti ni vračunala v svoj minimalni kapital.
As was explained in detail in the section on Articles 8, 10 and 18, ELAS did not reserve for discretionary bonuses, thereby not computing these liabilities in its solvency margin.
Obstaja utemeljitev, ki meni, da je družba ELAS, ker jih je bilo to dovoljeno, z umetnimi sredstvi izpolnjevala zahteve glede solventnosti, s čimer je skrivala resnico pred zavarovanci in ogrozila svojo finančno sposobnost v prihodnosti.
There is one line of reasoning that assumes that, by being allowed to do this, ELAS managed by artificial means to meet its solvency requirements, thereby hiding the truth from policyholders and endangering its future financial viability.
Ta utemeljitev nadalje navaja, da bi to pomenilo, da so bila razumna pričakovanja zavarovancev ogrožena ter da so zakonodajalci sprejeli ukrepe, ki niso bili „ ustrezni in potrebni za preprečevanje ali odpravo vseh nepravilnosti, ki ogrožajo interese zavarovancev ”, kot zahteva člen 10.
The argument continues by saying that this would have meant that PRE were put at risk and that regulators took measures that were not “ appropriate and necessary to prevent or remedy any irregularities prejudicial to the interests of the assured persons” , as required by Article 10.
Ker niso zagotovili, da bi družba upoštevala zakonodajo Združenega kraljestva o razumnih pričakovanjih zavarovancev, morda niso upoštevali člena 10 (glej tudi oddelek II.2.
By not ensuring that the business complied with UK law on PRE, it possibly failed to respect Article 10 (See also section II.2.
Dodatni dokazi o prenosu.).
‘Further evidence on transposition’).
Prihodnji dobički in vprašanje iz oddelka 68
Future profits and Section 68 issue
Drugi ključni vidik vprašanja minimalnega kapitala je vprašanje prihodnjih dobičkov, zilmerjevih rezerv in pooblastil ministrstva.
The second key aspect of the solvency margin issue is the question of future profits, Zillmerising and the powers of the Secretary of State.
Med izvajanjem tretje direktive o življenjskem zavarovanju je veljavna zakonodaja ES
At the time of the implementation of the 3LD, the EC legislation in force
Člen 18(3)(A) Direktive 79/267/EGS, prva direktiva o življenjskem zavarovanju.
Article 18(3)(A) Directive 79/267/EEC, the 1LD.
Za celotno besedilo člena glej oddelek II.1.3 Zadevni členi iz drugih direktiv. o prihodnjih dobičkih določala, da se lahko do 50 % prihodnjih dobičkov uporabi za izpolnjevanje zahtev družbe glede solventnosti, preden se dobi odobritev pristojnega organa in pod določenimi pogoji.
For full text of the article, see section II.1.3, 'Relevant articles from other directives'. on future profits prescribed that up to 50% of future profits could be used for meeting the undertaking’s solvency requirements, prior to the authorization of the competent authority and subject to certain conditions.
Osnovna utemeljitev tega je bila napoved verjetnosti, da se bodo dobički iz naložb v prihodnosti povišali in bodo na voljo za plačevanje prihodnjih obveznosti.
The underlying rationale behind this was to anticipate the likelihood that profits on investments would arise in future and be available to meet future liabilities.
Da bi se izognili tveganju, je bilo treba oceno prihodnjih dobičkov opraviti skrbno in preudarno.
To avoid risks, the estimation of future profits was to be carried out on a prudent basis.
Ta možnost je bila močno omejena s sprejetjem Direktive o solventnosti I leta 2002 (glej člen 1.4), ki v celoti prepoveduje njihovo uporabo od leta 2009.
This possibility was severely restricted with the adoption in 2002 of the Solvency I Directive (see Article 1.4), which totally prohibits their use from 2009 onwards.
228. , da je družba ELAS večkrat zaprosila za in pridobila dovoljenje zakonodajalca, da uporabi prihodnje dobičke, zilmerjeve rezerve in podrejeni dolžniški kapital za izpolnjevanje zahtev glede solventnosti.
228. assertion that, on several occasions, ELAS requested and successfully obtained authorisation from the regulator on numerous occasions to use future profits, Zillmerising and subordinated loan capital to meet its solvency requirements.
Na podlagi tega dokaza je razvidno, da je bilo zavarovalnici dovoljeno, da spodbuja zunanji videz finančne moči.
According to this evidence, the company was thereby allowed to enhance the external perception of its financial strength.
Baird je priporočil pregled izvajanja te diskrecijske pravice s strani zakonodajalca v zvezi s pooblastili za uporabo prihodnjih dobičkov za izpolnjevanje zahtev glede solventnosti.
Baird recommended reviewing the exercise of discretion by the regulator relating to authorisations for using future profits to meet solvency requirements.
Zato je ena od smeri preiskave usmerjena v ugotavljanje, ali so imele diskrecijske pravice, ki jih je izvajalo ministrstvo na podlagi oddelka 68 Zakona o zavarovalnicah iz leta 1982, pomembno vlogo v zadevi družbe ELAS ter ali je ta diskrecijska pravica združljiva s tretjo direktivo o življenjskem zavarovanju.
Therefore, one of the lines of investigation being pursued is whether the discretion exercised by the Secretary of State based on section 68 of the ICA 1982 played a prominent role in the ELAS affair and whether that discretion itself is compatible with the 3LD.