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Document 12003TN08/02

Act concerning the conditions of accession of the Czech Republic, the Republic of Estonia, the Republic of Cyprus, the Republic of Latvia, the Republic of Lithuania, the Republic of Hungary, the Republic of Malta, the Republic of Poland, the Republic of Slovenia and the Slovak Republic and the adjustments to the Treaties on which the European Union is founded - Annex VIII: List referred to in Article 24 of the Act of Accession: Latvia - 2. Freedom to provide services

OJ L 236, 23.9.2003, p. 826–826 (BG, ES, CS, DA, DE, ET, EL, EN, FR, GA, IT, LV, LT, HU, MT, NL, PL, PT, RO, SK, SL, FI, SV)

Legal status of the document In force

12003TN08/02

Act concerning the conditions of accession of the Czech Republic, the Republic of Estonia, the Republic of Cyprus, the Republic of Latvia, the Republic of Lithuania, the Republic of Hungary, the Republic of Malta, the Republic of Poland, the Republic of Slovenia and the Slovak Republic and the adjustments to the Treaties on which the European Union is founded - Annex VIII: List referred to in Article 24 of the Act of Accession: Latvia - 2. Freedom to provide services

Official Journal L 236 , 23/09/2003 P. 0826 - 0826


2. FREEDOM TO PROVIDE SERVICES

1. 31994 L 0019: Directive 94/19/EC of the European Parliament and of the Council of 30 May 1994 on deposit-guarantee schemes (OJ L 135, 31.5.1994, p. 5).

By way of derogation from Article 7(1) of Directive 94/19/EC, the minimum level of guarantee shall not apply in Latvia until 31 December 2007. Latvia shall ensure that its deposit-guarantee scheme provides for cover of not less than EUR 10000 until 31 December 2005, and of not less than EUR 15000 from 1 January 2006 until 31 December 2007.

During the transitional period the other Member States will retain the right to prevent a branch of a Latvian credit institution established on their territories from operating unless and until such a branch has joined an officially recognised deposit-guarantee scheme within the territory of the Member State concerned in order to cover the difference between the Latvian level of guarantee and the minimum level referred to in Article 7(1).

2. 31997 L 0009: Directive 97/9/EC of the European Parliament and of the Council of 3 March 1997 on investor-compensation schemes (OJ L 84, 26.3.1997, p. 22).

By way of derogation from Article 4(1) of Directive 97/9/EC, the minimum level of compensation shall not apply in Latvia until 31 December 2007. Latvia shall ensure that its investor-compensation scheme provides for cover of not less than EUR 10000 until 31 December 2005, and of not less than EUR 15000 from 1 January 2006 until 31 December 2007.

During the transitional period the other Member States will retain the right to prevent a branch of a Latvian investment firm established on their territories from operating unless and until such a branch has joined an officially recognised investor-compensation scheme within the territory of the Member State concerned in order to cover the difference between the Latvian level of compensation and the minimum level referred to in Article 4(1).

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