Bank of Lithuania
2012-06-13

A payment institution licence will be issued to Click2Sell

The Board of the Bank of Lithuania decided to issue a payment institution licence to UAB Click2Sell, which grants the right to provide the payment service specified in Article 5(6) of the Law on Payments (money remittances).

Up to now, licences to provide payment services have been granted to 27 enterprises.

The company “Synergy Finance” will receive the operating licence of an investment fund management company

The Board of the Bank of Lithuania decided to issue the licence of a management company operating under the Law on Collective Investment Undertakings, which grants the right to manage collective investment undertakings investing in other collective investment undertakings, to UAB “Synergy Finance”. The licence grants the right to engage also in additional activities: to manage financial instrument portfolios of other entities; consult on the issues of investment in financial instruments.

UAB “Synergy Finance” informed that in the beginning of its activity it intends to establish one investment fund – open type special collective investment undertaking of unlimited activity duration, which invests in other collective investment undertakings.

Licence of an insurance brokerage company issued to the company “Benitas”

The Board of the Bank of Lithuania decided to issue a licence of an insurance brokerage company to the newly established insurance company UADBB “Benitas”. This licence grants the right to engage in insurance mediation activity.

Licence of an insurance brokerage company withdrawn for “APDRAUDA LT”

The Board of the Bank of Lithuania withdrew the licence of an insurance brokerage company issued to UADBB “APDRAUDA LT” (Vilnius) by the resolution of the Insurance Supervisory Commission of 2 May 2006.

On 28 May 2012, UADBB “APDRAUDA LT” shareholders decided to terminate the insurance brokerage activity and liquidate the company. It did not engage in insurance mediation activity and has not concluded new insurance contracts this year.

Rules approved

The Board of the Bank of Lithuania approved the Rules of the Compulsory Civil Liability Insurance for Property or Business Valuation Enterprises and Independent Property or Business Valuators. They regulate the main terms and conditions of the contracts of compulsory civil liability insurance for property or business valuation enterprises and independent property or business valuators, as well as pre-contractual and contractual rights and obligations of the insurance contract parties: the insurer and the policyholder.

The Procedure for the Payment and Securities Settlement Systems Registration, Data Management and Publication amended

The Board of the Bank of Lithuania amended the Procedure for the Payment and Securities Settlement Systems Registration, Data Management and Publication. Taking into consideration the new structure of the Bank of Lithuania, it was established that the systems data will be managed and the official list of systems will be published by the Financial Stability Department of the Economics and Financial Stability Service of the Bank of Lithuania. Operators of the payment and securities settlement systems have to submit the documents and data indicated in the said procedure to this unit.

The coin dedicated to Fine Arts will be issued into circulation at the end of June

The Board of the Bank of Lithuania decided to declare the 10 litas commemorative coin dedicated to Fine Arts as legal tender and issue it into circulation on 26 June 2012. The graphic design for the coin was created by Rūta Ničajienė, whereas the plaster model was made by Giedrius Paulauskis.  The coins are minted by UAB “Lietuvos monetų kalykla” (Lithuanian Mint).

It will be already the third coin from the series “Lithuanian Culture”. The first coin, which was dedicated to Music, was issued in 2010, whereas the second coin, which was dedicated to Theatre, was issued in 2011.