Portugal – CB Qualifying Holdings

Portugal – CB Qualifying Holdings

On 2 November 2021, POR CB announced notice 6/2021 was published in official journal.

  • Notice regulates the elements and information that must be communicated under the procedures relating to the acquisition, increase or decrease of qualifying holdings.
  • Revokes Notice 5/2010, rules relate to the general framework for credit institutions.
  • Also re financial companies, legal framework for payment services, electronic money.
  • Notice targets specifically rules re appraisal of projects and cooperation, following CRD transposition and entry into operation of the Single Supervisory Mechanism (SSM).
  • In particular it covers: acquisition or increase of qualified participation; decrease in qualified participation; acquisition of stakes greater than 5%.
  • Realization of projects for acquisition of a qualifying share previously communicated.
  • Also released public consultation report 4/2021 re which no comment was submitted.
  • Notice 6/2021 enters into force on the day following its official publication i.e. 3 November 2021