be stopped temporarily by the BRSA, operating permits may be canceled and the funds of these organizations accepted, the fund will be used to ensure the fulfillment of the owner’s rights and liabilities of indemnification.
Parliamentary Planning and Budget Commission adopted
Payment and Securities Settlement Systems, according to the Draft Law on Payment Services and Electronic Money Institutions, payment, and branches of electronic money institutions, representative or outside services to their audit firms to be authorized BRSA .
public institutions, state security and fundamental foreign trade secret to cases where severe consequences of family life, privacy, and confidentiality of the investigation without prejudice to the provisions relating to the right of defense, prohibitive and restrictive provisions of special laws notwithstanding, albeit hidden by the BRSA to be limited to the tasks, while complying with all information and documents to be requested and the environment will have to be continuous or individual. Payment and electronic money institutions will be subject to independent audit.
BRSA, including independent audits of the issues identified as a result of the audits to ask to take appropriate measures, in order to take measures to recognize a reasonable time not to exceed six months, until the payment is received within this period, the establishment of the necessary measures and temporary operating permit as an electronic money institution if appropriate measures were not taken to stop within the specified period will be authorized to cancel the operating license. Funds received by payment institutions issuing electronic money, electronic money in exchange for the establishment of funds collected by the BRSA ç?karaca?? protected within the framework of the principles and procedures to be determined by regulation.
BRSA, payments and electronic money institutions, in accordance with the principles and procedures to be determined by the responsibility that can guarantee at the Central Bank. Payment and electronic money institutions adopted by the funds and the funds held in the accounts of the organization are subject to voluntary or involuntary liquidation, cancellation of permission to operate the event of situations such as the rights of any other funds to be reimbursed, regardless of the priorities specified in the laws and regulation to ensure fulfillment of the obligations arising from the use .
Payment and electronic money institutions, will be responsible for the compensation for the rights of the fund. Documents and records under the arrangement for a period of at least 10 years in the country to enable safe access to and stored at any moment. Debit and credit cards payment systems will be covered under the arrangement. Organization of Postal and Telegraph Company (PTT Co., Ltd.), you will not have to get approval from the BRSA and the conditions to be exempt from payment provider. BRSA, as a result of audit to be performed under the arrangement, PTT Inc. ‘s activities to provide payment services to stop temporarily or indefinitely.
authorization requirements-Pay cycle
a certain period of shareholding ratios, for the system operator, the Central Bank will permit the BRSA for the establishment of payment institutions and electronic money. Usufruct rights including the right to vote and the end of the resort, these ratios considered within the acquisition and transfer.
member of the board of directors or the audit committee of the shares that the privilege of plant, the transfer or issuance of new preferred shares, regardless of the ratios for the system operator, the Central Bank for the establishment of electronic money institutions and payment will be subject to the consent of the BRSA.
Founded over 10 percent of the share capital of
legal persons having control of the system operators to change hands for the purposes of transfer of shares, the Central Bank allowed the BRSA search terms for payment and electronic money institutions. Transfer of shares will inherit the shares subject to authorization, in accordance with the Banking Law, the founders of the bank will have to be qualified for the items.
-Sanctions
bill, contrary to the payment service provider and system operator of regulated entities that operate foresees fines. Without the required permits the system operator, which operates as the payment provider or electronic
control and surveillance tasks carried out by the Central Bank and the BRSA prevents the fulfillment of the person, to be given a prison sentence of 1 to 3 years. Not audit the information and documents required under surveillance activities, and people in prison and 500 thousand in the three months to 1 year until the day he faces criminal fines.
system operator, payment institutions and electronic money institutions, documents, false statements Where present, who have signed these documents, up to 1 to 3 years in prison and be punished with a judicial fine up to two thousand days. Act in breach of the obligation to keep records and information security, as much as 1 to 3 years in prison and a criminal fine up to 500 days in 1500 will be the day. A means of payment by third parties in order to prevent access to information about the personal security officers to take reasonable measures organizations and individuals engaged in the process, as much as 1 to 3 years in prison and be punished with a judicial fine up to one thousand days.
the system operator, the paying agency and the electronic money institution partners, board members and other officials, the secrets of these organizations and their customers, even if they are separated by task to someone else, the case descriptions with 1 to 3 years imprisonment given judicial fine up to one thousand days . communication tools through the system operator, the paying agency and the electronic money institution’s reputation can break causing the issue one way or another canard spread by intentionally, one thousand days to 3 years in prison and be punished with a judicial fine up to two thousand days.
the paying agency and the establishment of an electronic money transactions records
disconnection, due to the recognition of the real nature are not suitable, the person who signed the documents and persons 1 to 3 years imprisonment and a criminal fine up to two thousand days will be given.
-embezzlement penalties
because the task is delegated to him or the possession of
protection and surveillance is required paperwork or securities in lieu of cash or money himself or someone else who had embezzled the system operator, payment institutions and electronic money institution authorized and officers, 6 years up to 12 years in prison and punished with a judicial fine up to five thousand days.
crime, embezzlement, fraudulent behavior, is committed to ensure I prevent disclosure, the person or persons concerned shall not be less than 12 years in prison and a criminal fine ever given to 20 thousand. Forensic amount of the fine, the loss of the body concerned can not be less than three times.
investigation before the embezzled money to be refunded, if reduced to two-thirds of the sentence. Before the prosecution, on a voluntary basis, to be refunded if the embezzled money, the penalty is reduced to half. If this situation happen before the verdict, the penalty is reduced to one-third. Due to the lack of money which is the subject of the crime of embezzlement, which could reduce the sentence by one-third halfway.
changing the structure of-BRSA
bill, the responsibilities of the Central Bank, make regulations to ensure the” control” provisions of the existing and future systems,” is changed to” ensure that the existing and future surveillance systems.
draft, three to five the number of vice-president issued by the BRSA. Assembly raised to 20 the number of directorates.
8director on the board that can be created in Department of Support Services. According to the current law office can be created up to 4. Board members at the request of the representative of the domestic institutions of the center to determine the relevant members of the permanent place of work. Litigation and enforcement proceedings the Agency is a party to carry out services under contract to exceed the number of lawyers that can run it.
for jobs requiring special expertise and temporary nature, can be purchased from the service without being subject to the provisions of the Public Procurement Act.
meeting the expenses of the Authority, payment institutions and electronic money institutions will be used to participate in the share of payments to be made under the name of. As of the date of entry into force of the law operating system operators, systems, within 1 year from the date of publication of the regulation on the Central Bank that will harmonize the law.
(Done)
Reporter: admin Published
ABSTRACT: Sefa Salantur
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