Legislator Case Law & Legislation
KHO:1997:131 AI generated

Court ruled that a company using a bank's premises without its own staff must be consolidated with the bank.

Case Number KHO:1997:131
Court / Authority
Jurisdiction Finland (FI)
Decision Date
Outcome Allowed / Granted

Legislator summary

AI generated

The Supreme Administrative Court held that a company operating within a bank's premises without its own primary staff, primarily funded by the bank, must be consolidated with the bank. The court found that the company's share trading activities significantly impacted the bank's financial results and thus required disclosure in the bank's supplementary financial statements. This decision clarifies the scope of consolidation under the Act on Bank Operations when operational and financial dependencies exist.

Legislator headnote

AI generated

Act on Bank Operations 5 §; Act on Bank Operations 30 §; Accounting Act 9 § 2; Consolidated Supervision Directive 92/30/EEC: A company operating within a bank's premises without its own primary staff, primarily funded by the bank, must be consolidated with the bank if its activities significantly impact the bank's financial results.

Keywords

AI generated
bank consolidation financial reporting supplementary statements operational dependency consolidated supervision accounting disclosure financial impact

Cited Legislation

AI generated
Act on Bank Operations 5 §
Act on Bank Operations 30 §
Accounting Act 9 § 2
Directive on consolidated supervision of credit institutions 92/30/EEC
AI generated

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Full text

Itsenäinen osakeyhtiö, joka toimi luottolaitoksen tiloissa ilman omaa päätoimista henkilökuntaa pääasiassa luottolaitoksen rahoituksella oli luettava luottolaitoksen konsolidointiryhmään. Yhtiön ja luottolaitoksen välisen arvopaperikaupan vaikutus luottolaitoksen tulokseen oli ilmoitettava luottolaitoksen tilinpäätöksen liitetiedoissa.

L luottolaitostoiminnasta 5 §

L luottolaitostoiminnasta 30 §

KirjanpitoL 9 § 2 mom

Direktiivi luottolaitosten konsolidoidusta valvonnasta 92/30/ETY