Commentaries: Art. 8

Credit transactions in accordance with Article 2 paragraph 3 letter a AMLA are carried out on a professional basis if:
1. gross proceeds of more than 250,000 francs are generated in the calendar year; and
2. a credit volume of more than 5 million francs has been granted at any given point in time.
The gross proceeds of the credit transaction shall be deemed to be all income from credit transactions after deduction of the portion which serves as the credit repayment.
If a person engages in both credit transactions and another activity that qualifies him or her as a financial intermediary, the issue of a professional basis must be determined separately for each activity. If a professional basis applies to one activity, both activities are deemed to be carried out on a professional basis.