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ARTICLE · 02 MARCH 2015

New Insurance Ordinance Adopted

POELLATH
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Bill C-18, entitled the Agricultural Growth Act, received Royal Assent on February 25, 2015, and will come into force on a day to be fixed by order of the Governor in Council.

GermanyInsurance
P&P Pöllath And Partners
P&P Pöllath And Partners
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On 25 February 2015, the German Federal Cabinet adopted a regulation to amend the Insurance Ordinance ("AnlV-E") and the Pension Fund Capital Ordinance. We informed about the initial draft published on 23 May 2014 in our client information of 27 May 2014. The regulation will enter into force on the day after its promulgation in the Federal Law Gazette (Bundesgesetzblatt).

The final version contains some of the hoped for improvements compared to the problematic draft of May 2014. The new regulation includes necessary adjustments due to the replacement of the German Investment Act (Investmentgesetz) by the German Capital Investment Code (Kapitalanlagegesetzbuch, "KAGB"), but in general is oriented to a large extent on the status quo of the current Insurance Ordinance and the administrative practice of the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, "BaFin"). In addition, it also contains pleasant amendments

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