Examples of Law 13/1985 in a sentence
Law 4/2008 amends, among other things, Additional Provision Two of Law 13/1985, which was the source of the obligation on Spanish issuers or their parent companies to report to the Spanish tax authorities on the identity and residence of holders of their debt securities.
The amended wording of Additional Provision Two of Law 13/1985, therefore, continues to apply the reporting obligation only in respect of Spanish resident holders (individual and corporate) and non-resident holders operating through a permanent establishment in Spain.The implementation of the changes contemplated by Law 4/2008 is subject to the adoption of relevant secondary legislation.
The amended wording of Additional Provision Two of Law 13/1985, therefore, continues to apply the reporting obligation only in respect of Spanish resident holders (individual and corporate) and non-resident holders operating through a permanent establishment in Spain.
Law 10/2014 of 26 June on the organisation, supervision and solvency of credit institutions replaced, as from 1 January 2014, the previous legal text on prudential banking regulation (Law 13/1985 of 25 May and Bank of Spain Circular 3/2008).
Bank of Spain Circular 3/2008 on the calculation and control of minimum capital requirements ("Circular 3/2008"), contained in Law 36/2007, of 16 November, in turn amending Law 13/1985, of 25 May, on the investment ratios, capital and reporting requirements of financial intermediaries, was approved and came into force in 2008.
Law 13/1985 establishes rules governing the issuance of preference shares and other debt instruments by Spanish financial entities and Spanish non-financial listed entities, whether directly or through a group subsidiary incorporated either in Spain or in a European Union Member State (other than tax xxxxxx as defined in Royal Decree 1080/1991 of July 5, 1991, as amended).
On 18 February 2011, the Spanish Cabinet approved Royal Decree 2/2011 on Strengthening the Financial System, which establishes that financial institutions and their groups that can take refundable funds from the public must have principal capital of 8% or more of their total risk-weighted exposure calculated in accordance with Law 13/1985, of 25 May, on the investment ratios, capital and reporting requirements of financial intermediaries.
The following is a summary of the procedures implemented by Euroclear and Clearstream, Luxembourg (the “ICSDs”) to facilitate collection of the relevant information concerning the Holders of Notes necessary to enable the Issuer to comply with its reporting obligations pursuant to Additional Provision Two of Law 13/1985.
This legal framework consists of Law 13/1985 of 25 May on investment ratios, capital and disclosure requirements for financial intermediaries, and Royal Decree 216/2008 of 15 February on the capital of financial institutions, which represent the incorporation into Spanish law of the Directives of the European Parliament and of the Council 2006/48/ EC (access to the business of credit institutions) and 2006/49/EC (on the capital adequacy of investment firms and credit institutions).
The Guarantor will comply with the reporting obligations set out in Section 3 of Additional Provision Two of Law 13/1985 in respect of Holders or beneficial owners who are taxpayers of the Spanish Individual Income Tax or taxpayers of the Spanish Corporation Tax, as well as taxpayers of the Spanish Non-resident Income Tax who hold the 6 Year Non-Call Securities through a permanent establishment located in Spanish territory.