FINANCIAL INSTITUTIONS LAW ( PART 6)

Article 8
Reimbursable funds and granting of credit

1. For the purposes of this law, reimbursable funds obtained from the public are not considered to be those obtained through the issue of bonds and debentures, under the terms of Company Law, by bodies not regulated by this law.

2. For the purpose of this law, the following are not considered as concessions of credit:

a) loans and other forms of lending and advances between a non-regulated company under this law and its respective partners;
b) loans granted by companies to their employees, for social reasons;
c) any advance or postponement of payments agreed between contracting parties for the acquisition of goods or services;
d) treasury operations, when legally permitted, between companies which are in a dominion or group relationship;
e) the issue of vouchers or cards for payment of goods or services supplied by the issuing company.

Article 9
Entitled entities

1. The banking and non-banking financial institutions defined in number 1 of article 5 are entitled to carry out the activities described in this law, if they comply with the requirements of articles 13 to 53 of this law.

2. The banking and non-banking financial institutions defined in numbers 1 to 3 of article 5 are entitled to carry out the activities herein described, if the requirements of article 89 and following ones of this law and further legal provisions applicable, are fulfilled.

Article 10
Veracity of companies or names

1. Only entities certified as financial institutions may include in their corporate name or denomination, or use in their activity, expressions suggesting that they can carry out banking or non-banking financial activities, such as “bank”, ”banking”, ”credit”, ”deposit”, ”financial leasing”, “factoring”, “securities brokers, or other similar expressions denoting the exercise of their activity.

2. The corporate name or denomination of financial institutions must necessarily include an expression that identifies the type of financial institution, as defined in this law.

3. The expressions referred to above are compulsorily used in order not to deceive the public in relation to the type of operations, which the body in question is permitted to exercise, in accordance with this law.

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