The requirements set out in the next paragraph shall also be fulfilled if the company has made contributions to the local economy in its country of establishment (hereinafter referred to as the “company's own country”).
Art. 2 The competent authority shall revoke an authorization of a liability manager of a pension savings association for a pension funds' savings company if it finds that the company has not implemented the provisions concerning the retirement benefits and the retirement of persons of working age (Art. 16 “Retirement of persons of working age” in the Decree no 2000/77/EC of the Council and in the act of 1 February 2001 on the approximation of the pension provisions in public law (OJ L 7, 4.8.2001, p. 1).
In the absence or lack of verification that the requirements for the authorization of liability managers have been met, the competent authority shall revoke the authorization of the liability manager of that company by notice in writing to the managing director of the pension funds' Savings Company (Art. 8 “Saving Company Act”).
Art.
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Grand-ducal regulation of 20 September 2005
establishing the criteria of competence, good repute and
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