TFL Vsebine / Revija Pravnik

11

Avtor kritično presoja prenos Direktive 2002/47/ES o finančnih instrumentih v slovensko zakonodajo, predvsem glede instituta prenosa finančnega instrumenta v zavarovanje. Pri tem argumentira, da 13. uvodna izjava Direktive ne dopušča kvalifikacije takega prenosa kot stvarnopravnega zavarovanja oziroma fiduciarnega prenosa v zavarovanje. Pravne značilnosti prenosa finančnega instrumenta v zavarovanje po Direktivi in Zakonu o finančnih zavarovanjih (ZFZ) tako presega naravo fiduciarnih zavarovanj prenosov, da je treba prenos finančnega instrumenta v zavarovanje obravnavati ločeno od stvarnopravnih zavarovanj kot samosvoje tipe poslov finančnih zavarovanj. Predstavljenim primerom neustreznega prenosa Direktive 2002/47/ES v slovensko zakonodajo avtor ponuja pravno razlago ZFZ ter sodne prakse Sodišča Evropske unije, ki omogoča razlago ZFZ v skladu z Direktivo 2002/47/ES. Zaradi gospodarske po- membnosti poslov finančnega zavarovanja ne glede na to predlaga, da se ugotovljene pomanjkljivosti ZFZ odpravijo s čimprejšnjo spremembo zakona.

"The author critically evaluates the transposition of the Directive 2002/47/ES on the Financial Collateral Arrangements into the Slovenian law, focusing particularly on the concept of the title transfer financial collateral arrangement. He substantiates his arguments that the Recital 13 of the Directive prevents characterisation of the financial instrument title transfer as a right in rem security interest including but not limited to the fiduciary transfer. The legal features of the title transfer under the Directive and under the Slovenian Financial Col- lateral Act (ZFZ) exceed the nature of the fiduciary transfers to such an extent that the title financial collateral arrangement must be considered outside the scope of the fiduciary transfers and as an independent type of transactions – financial collateral arrangements. With respect to the issues of the Directive lacking an adequate transposition into the Slovenian law, the author offers legal argumentation that nevertheless enables the interpretation of the ZFZ in accordance with the Directive. However, due to the economic importance of financial collateral arrangements, the author still recommends adoption of the relevant amendments to the ZFZ as soon as possible."

Disregarded in Transposition: The Directive and the Act on Financial Collateral Arrangements