RESTRICTED
WORLD TRADE GATS/SC/71/Suppl.1
28July1995
ORGANIZATION
(95-2781)
Trade inServices
POLAND
Schedule ofSpecific Commitments
Supplement 1
(This isauthentic inEnglish only)
____________________
Thistextreplaces theFinancial Services section contained inpages 14to18ofdocument
GATS/SC/71.POLAND -SCHEDULE OFSPECIFIC COMMITMENTS
Modes ofsupply: 1)Cross-border supply 2)Consumption abroad 3)Commercial presence 4)Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
7. FINANCIAL
SERVICES*
A. Allinsurance and
insurance related services
- Insurance andrelated
services:
- direct insurance
(including coinsurance):
- life,
- non-life;
- reinsurance and
retrocession;
- brokerage
(CPC 812** except
81212, 81299; 81401,
81402**)1) Unbound except forthereinsurance andthe
retrocession. Inthereinsurance andthe
retrocession theminimum partofapremium to
beretained inPoland may notbelessthan 20%.
2) Unbound except forthereinsurance andthe
retrocession. Inthereinsurance andthe
retrocession theminimum partofapremium to
beretained inPoland may notbelessthan 20%.
3) Establishment only inaform ofjoint stock
company except forbrokerage andagency
services where horizontal measures apply.
Foreign participation intheinsurance company
cannot belower than 50percent oftheminimal
guarantee fund. Apermit isrequired forthe
acquisition ofshares orrights resulting from
shares ofanycompany which isshareholder ofat
least 15% ofshares ofinsurance company.
Insurance funds andcompany own assets have to
beinvested inPoland andcannot betransferred
abroad. Head ofabrokerage company should
meet qualifications ofinsurance broker.
Residency requirement forinsurance brokers and
agents.1) Unbound except forthereinsurance
andtheretrocession.
2) Unbound except forthereinsurance
andtheretrocession.
3) None
*
Prudential regulations inthefinancial sector arebeing elaborated inPoland. They may require alteration ofthepresently existing rules aswell aspreparation ofthe
new laws. Their application willbedone inaccordance with theprovisions oftheAnnex onFinancial Services, paragraph 2-Domestic Regulation sub-paragraph 1.
GATS/SC/71/Suppl.1
Page1POLAND (continued)GATS/SC/71/Suppl.1
Page2
Modes ofsupply: 1)Cross-border supply 2)Consumption abroad 3)Commercial presence 4)Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
4) Unbound except forhorizontal measures.
Residency requirement forinsurance brokers and
agents.4) None
B. Banking andOther
Financial Services
Banking services:
- Acceptance ofdeposits
andother repayable funds
(CPC 81115-81119)
- Lending ofalltypes
(CPC 8113)
- Allpayment andmoney
transmission services
(CPC 81339**)
- Guarantees and
commitments
(excluding guarantees
andcommitments ofthe
State Treasury)
(CPC 81199**)1) Unbound
2) Unbound
3) Establishment ofabank only inaform ofjoint
stock company. System ofpermits inrelation to
establishment ofallbanks based onprudential
grounds. Nationality requirement forsome -at
least one-ofthebank executives.
4) Unbound except forhorizontal measures.
Nationality requirement forsome -atleast one-
ofthebank executives.1) Unbound
2) Unbound
3) None
4) NonePOLAND (continued)
Modes ofsupply: 1)Cross-border supply 2)Consumption abroad 3)Commercial presence 4)Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
Other financial services:
- Participation inissues of
allkinds ofsecurities
(excluding treasury
bonds), including
underwriting and
placement asagent
(whether publicly or
privately) andprovision
ofservices related to
such issues1) Unbound
2) Unbound
3) Establishment only inaform ofjoint stock
company. Residency requirement forbrokers and
securities advisors.
4) Unbound except forhorizontal measures.
Residency requirement forbrokers andsecurities
advisors.1) Unbound
2) Unbound
3) None
4) None
- Inrelation totransferable
securities trading forown
account orforaccount of
customers, whether onan
exchange, inanover-the-
counter market or
otherwise
(CPC 8132** except
81329)
GATS/SC/71/Suppl.1
Page3POLAND (continued)GATS/SC/71/Suppl.1
Page4
Modes ofsupply: 1)Cross-border supply 2)Consumption abroad 3)Commercial presence 4)Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
- Mutual funds services
(CPC 81323**)
- Advisory andother
auxiliary services to
financial services
included intothis
schedule
(CPC 8133** except
81333, 81339)
- Provision andtransfer of
financial information, and
financial data processing
andrelated software by
suppliers ofother
financial services1) Requirement tousethepublic telecommunication
network, orthenetwork ofother authorized
operator, inthecase ofcross-border provision of
these services
2) Requirement tousethepublic telecommunication
network, orthenetwork ofother authorized
operator, inthecase ofcross-border consumption
ofthese services1) None
2) None
3) Requirement tousethepublic
telecommunication network orthenetwork of
other authorized operator inthecase of
cross-border provision and/or consumption of
these services
4) Unbound except forhorizontal measures3) None
4) None