The Riigikogu passed with 78 votes in favour the Act on Amendments to the Investment Funds Act and Other Associated Acts (152 SE), initiated by the Government, which enables to manage investment funds complying with uniform standards (UCITS) on a cross-border basis in the European Union i.e. in a situation where the management company is located in one Member State and the investment fund in another; establishes the legal basis for merging a UCITS with the UCITS of another management company, and for cross-border mergers of UCITS; enables to create new fund structures (“master-feeder structures” according to which the assets of one UCITS (the feeder) can be invested in another UCITS (master) as a whole or in a large part); amends the regulation of the supplementary funded pension by introducing employers’ pension funds as voluntary pension funds the aim of which is to provide supplementary funded pension to the employees, public servants and members of management or controlling body of the employer specified in the terms and conditions of such pension fund; specifies mutual cooperation between the Financial Supervision Authority and European financial supervisory authorities and financial supervisory authorities of other member states in connection with the entry into force of the new procedure for EU financial supervision as of the beginning of 2011.
The Riigikogu concluded the second reading of two Bills:
The Bill on Amendments to the Value Added Tax Act and the Liquid Fuel Act (146 SE), initiated by the Government, provides a special reverse charge arrangement for avoiding tax evasions related to the turnover of gold, as is also the case with the turnover of metal waste and immovables. Application of reverse value added tax will eliminate the opportunity to deduct, that is, to reclaim from the state, value added tax in case of transactions between persons liable to value added tax. The obligation to pay value added tax will only arise in the “last link” of the supply chain, upon sale to the final consumer.
The Bill on Amendments to the National Audit Office Act and the Chancellor of Justice Act (151 SE), initiated by the Government, provides elimination of the occupational pension of the Auditor General, the Director of Audit of the National Audit Office, the Chancellor of Justice and the Deputy Chancellor of Justice-Adviser during a transition period. The rights to special pension will be retained for those who, by the time of the entry into force of the Act, will have completed the required pension qualifying period, and for persons working at positions which grant the right to the pension who by that time will have completed at least 50% of the pensionable service required for receiving such pension.
On the motion of the Legal Affairs Committee, the Riigikogu suspended the second reading of the Bill on Amendments to the Penal Code (140 SE), initiated by the Government.
The Riigikogu concluded the first reading of two Bills:
The Bill on Amendments to the Mental Health Act, the Health Care Services Organisation Act and the Code of Civil Procedure (170 SE), initiated by the Government, amends the regulations concerning the treatment of persons with addiction problems. The main emphasis of the Bill is on the helping of persons of less than 18 years of age and the application of outpatient involuntary emergency psychiatric care to them. The Bill also establishes the general principles of providing assistance for addiction with regard to all people regardless of their age. Also, uniform terminology is established.
The Bill on Amendments to the Building Act, the Apartment Associations Act, the Apartment Ownership Act and the Building Association Act (156 SE), initiated by the Government, harmonises Estonian legislation with the relevant EU directive on the energy performance of buildings. It is aimed at contributing to the improvement of the efficiency of energy use in buildings by allowing easier access to the information on the energy consumption of a building and possible energy saving measures for users of existing buildings. At the same time it provides application of suitable principles in designing of the parts of buildings which determine energy consumption, when planning new buildings in the Estonian situation.
The Riigikogu Press Service
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