Banks having their registered offices in the Netherlands need prior approval from DNB for six acts mentioned in the law. You can get this approval by applying for a DNO. Significant banks need approval from the ECB. Does your bank qualify as a significant bank? Please contact DNB first, before applying for a DNO.
1. Qualifying holdings in a specified financial enterprises.
Banks need a DNO for acquiring or expanding qualifying holdings in a bank, investment firm, or insurance company having its registered office in a non-member state, or a financial institution without a certificate of supervised status. A DNO is necessary for material holdings only. Member states are taken to mean the countries of the European Economic Area (EEA)
2. Qualifying holdings in non-financial enterprises
Banks need a DNO for acquiring or expanding qualifying holdings in non-financial enterprises. This is taken to mean all enterprises that are not banks, investment firms, insurance companies or financial institutions. A DNO is necessary for material holdings only.
3. Partial or full takeovers of assets or liabilities, or both
Banks need a DNO for the acquisition of assets or liabilities, or both, of another enterprise or institution as this does not constitute a legal merger, but an assets/liabilities transaction only. The transaction may concern the takeover of a set of assets/liabilities. It may also be a partial takeover, whereby a major part of the assets and/or liabilities change hands. The takeover can be effected directly or indirectly. These takeovers only need a DNO if the size of the assets and/or liabilities exceeds a specific threshold value.
Banks need a DNO for entering into mergers with other enterprises of institutions. Mergers only need a DNO if the balance sheet total of the other enterprise of institution exceeds a specific threshold value.
5. Financial or corporate restructuring operations
Banks need a DNO for financial or corporate restructurings. Corporate restructurings primarily concern a situation where the bank's activities are transferred to a new corporate structure, such as a parent company and an operating subsidiary.
6. Joining managing partner
Banks need a DNO if a managing partner wants to join the bank. This requirement only applies to banks that are limited partnerships. In addition to being a partner or shareholder in the bank, a managing partner is also charged with its management.