Advanced Search

To Change The Code. On The Adjustment Of Rules Of The Law On Investment Companies

Original Language Title: změna vyhl. o úpravě pravidel zákona o investičních společnostech

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now for only USD$40 per month.
52/2016 Sb.



The DECREE



of 26 March. January 2016,



amending Decree No 244/2013 Coll., on the more certain

the rules of the law on investment companies and investment funds



The Czech National Bank establishes, pursuant to § 30 paragraph. 5, section, paragraph 234. 6, § 238

paragraph. 4, § 291 paragraph. 3, § 307 paragraph. 4, § and § 478 paragraph 638. 3 of Act No.

240/2013 Coll. on investment companies and investment funds, in

the text of the law No. 336/2014:



Article. (I)



Decree No 244/2013 Coll., on the more certain of the rules of the law of

investment companies and investment funds, is hereby amended as follows:



1. In section 42, paragraph. 1 (a). (b)), the word "i"), the word "j").



2. In section 42, paragraph. 1 (a). (c)), the word "f)" shall be replaced by "and" and on the)

the end of the paragraph, the period is replaced by a comma.



3. In section 42, paragraph. 1, the following point (d)), which read:



"(d)), the annual report or the consolidated annual report managers

Investment Fund or to a foreign investment fund based in

The Czech Republic and the Central administrator, the data are listed in the annex

No 4 to this Ordinance. ".



4. In article 42, paragraphs 2 and 3, including footnotes, no. 10, 11 and 12

be deleted and paragraph 1 shall be deleted.



5. under section 42, the following new section 42a to 42 h, including headings and

footnotes 15 and 16:



"section 42a



Amendment of the Statute



(Section 457 of the Act)



When the notification of changes to the Statute of the investment fund, which is not subject to

the approval of the Czech National Bank, the administrator shall submit to the Czech national

the text of the Statute of the Bank, with an indication of the changes and the new wording of this

of the Statute.



section 42b



Credentials of another performance of each activity and credentials of the next

responsible person



(To section 459 and 460 of the Act)



(1) a notice or to a foreign investment fund managers

Investment Fund, which is allowed to exceed the limit, the decisive

contains



and the identification of the person), which intends to entrust the performance of individual

activity and indications of this activity,



(b)) identification data of the person that person intends to entrust the

the performance of any act or some of the acts and the extent of this activity, and



(c)) Declaration of compliance with the conditions laid down in sections 23 to 26 of the Act.



(2) notice of the main administrator and administrator of the investment

the Fund, whose obhospodařovatel is entitled to exceed the determined limit,

contains the information referred to in paragraph 1 (b). and (b))) and a declaration of compliance with the

the conditions set out in sections 50 to 53 of the Act.



section 42 c



Public offering investments in the Czech Republic



(Paragraph 3 of section 461 of the Act)



Notification or to a foreign investment fund managers

Investment Fund, in which investments are offered to the public in the Czech

the Republic, in accordance with section 461 paragraph. 3 of the Act, shall be submitted, unless the

done already when you write this investment fund to the list maintained by the

The Czech National Bank.



section 42d



Information relating to the management of the investment fund and foreign

Investment Fund



[To section 463, paragraph 1 (b), (d)) of the Act]



Information pursuant to section 463, paragraph. 1 (a). (d)) Law Announces obhospodařovatel

Investment Fund or to a foreign investment fund, which is

entitled to exceed the determined limit, according to the article. paragraph 110. 3 of regulation

The Commission delegated the powers of the (EU) no 231/2013 ^ 15).



§ 42e



Failure of the funded capital investment fund



(Section 465 of the Act)



Notification of the administrator of an investment fund, that the funded capital of this

Investment Fund has not reached at least within the time limits of the law

fixed amounts, also contains an explanation of the condition, and effective

measures to remedy or decision about the cancellation of the Fund

collective investment undertakings, including the time schedule.



section 42f



For more information



(Section 466, paragraph 3, of the Act)



The notice under section 466, paragraph. 3 of the Act shall submit to the Czech National Bank

obhospodařovatel collective investment fund.



section 42 g



Details of the Committee of experts



(Section 469 of the Act)



The administrator of the Special Fund, which is a real estate fund, shall notify the

The Czech National Bank identification data of members of the Committee of experts and the information

of their professional practice, and information on their education under section 2 (b). I) and

j) Decree on the applications according to the law on investment companies and

^ 16) funds, as well as the changes in such data.



§ 42 h



The period and method of data reporting



(§ 478 of the Act)



(1) the administrator of the Fund for collective investment and Fund Administrator

qualified investors, whose obhospodařovatel is entitled to

exceed the determined limit, the Czech National Bank will provide an annual report

This Fund not later than 4 months after the end of the accounting period, this

the Fund. The administrator of the Fund for collective investment will provide the Czech

the National Bank of the half-yearly report of the Fund within 2 months after the expiry of the

the first 6 months of the financial year of the Fund.



(2) Obhospodařovatel investment fund or foreign investment

the Fund, based in the Czech Republic and its main administrator

the annual report or the consolidated annual report of the Czech National Bank

not later than 4 months after the end of the accounting period.



(3) the notice referred to in section 456 to 475 of the Act shall be submitted without undue

delay after the operative event occurred, if this Ordinance or

another law provides otherwise.



(4) a notice under section 466, paragraph. 4 of the law shall be submitted within 4 months after the

the end of the calendar year.



(5) the information and documents referred to in this Decree shall be submitted

through the application of the Czech National Bank for the collection of information

duties and registration bodies, through the public data network

in the data box or the address of the electronic registry of the Czech national

the Bank.



15) Commission delegated Regulation (EU) no 231/2013, which

the following directive of the European Parliament and of the Council of 2011/61/EU, as regards

exceptions, the General conditions for the exercise of activities, depository, leverage

effect, transparency, and oversight.



16) Decree No 247/2013 Coll., on applications under the Act on investment

companies and investment funds, as amended. ".



6. In section 46, the word "standard" is replaced by "investment" and

the word "standard" with the word "investment".



7. § 46 paragraph. 3, the words "2 and 3" shall be replaced by "1 and 2".



8. § 47 including title and footnote No. 13:



"§ 47



The rules for determining the amount of the capital investment company



(Section 30, paragraph 5, of the Act)



The capital investment company shall consist of



and equity capital items) tier 1 designated pursuant to article. 26 to 30

Regulation of the European Parliament and of the Council (EU) no 575/2013 ^ 13) and modified

According to the article. 32, 33 and 35 of this regulation, and



(b) the deductions specified under article). 36 regulation of the European Parliament and the Council

(EU) no 575/2013, adjusted in accordance with article. 37, 38 and 42 to 47 of this

Regulation and with the application of exceptions under article. 48 of this regulation.



13) European Parliament and Council Regulation (EU) no 575/13 of 26 February.

June 2013, on prudential requirements for credit institutions and

investment firms and amending Regulation (EC) No 648/2012. ".



9. In annex 2 (a). and), after the words "(portfolio manager)"

the words "or an external administrator".



10. In annex 2 (a). (c)), the words ", which was the depositary of

responsible for "shall be replaced by" responsible for ".



11. In annex 2 (a). (j)) at the beginning of the text, the words "description

the risks associated with derivatives, "and the words" techniques "are added

the words "and the information about the investment limits in relation to derivatives

negotiated on behalf of the Fund ".



12. the following Annex No 4, which reads as follows:



"Annex 4 to the Decree No 244/2013 Sb.



Annual report or to a foreign investment fund managers

investment fund based in the Czech Republic and the main

Administrator



I. annual report translates into higher investment fund or

foreign investment fund based in the Czech Republic includes

also information about



and changes the facts written about) his people into the commercial

the index, which has occurred during the vesting period,



(b)) investment funds and foreign investment funds, which have been

in the relevant period or maturity managed

administered by,



(c)), having a significant impact on the facts of the performance of the activities of this

managers together with an indication of the main factors that have influence on the

his result in the relevant period,



(d)) the members of the statutory body, the Administrative Council, the Supervisory Council and the portfolio

managers of managers, including a brief description of their

experience and qualifications, and an indication of the period for which this function

or activities, or pursued,



e) persons on which had the obhospodařovatel collective Fund

investment by qualified participation, albeit only after a part of the vesting period, with a

their identification data, the amount and type of qualified participation

and economic outcome of these persons, together with the amount of time that

obhospodařovatel had a qualified participation in these persons; If

the economic results are not available the following persons certified by an auditor,

indicate the obhospodařovatel of the results of the auditor be unauthenticated and this

the fact,



f) the persons who are excluded under paragraph (e)) and that acted in

the relevant period of this maturity in conformity with their

identification data,



(g)) the judicial or arbitration disputes, which in the relevant

the period was or is this obhospodařovatel on his own behalf or on behalf of it

managed investment fund or foreign investment

the Fund, if the value in dispute exceeds 5% of the value of the property

This translates into higher or investment fund or foreign

Investment Fund, to which the dispute relates, and



h) persons that have been in the relevant period of this maturity

entrusted with the performance of each activity, which involves the management of

Investment Fund or to a foreign investment fund, indicating the

their identification data and individual activities, which have been

entrusted with.



II. Annual report of the administrator of the capital also contains data about the



and changes the facts written about) his people into the commercial


the index, which has occurred during the vesting period,



(b)) investment funds and foreign investment funds, whose

the Administration conducted in the relevant period,



(c)), having a significant impact on the facts to the performance of its activities, together with the

identifying the main factors that had an impact on the operating result in

the relevant period,



(d)) the members of the statutory body, the Management Board, the Supervisory Board of the master

the administrator, including a brief description of their experience and

qualifications, and an indication of the period for which this function or activity

perform, or pursued,



(e)) the persons who should be on it by a qualified participation, albeit only after a part of the

the vesting period, together with their identification data, the amount and type of

participation on this main administrator and specifying the period for which

should a qualified participation on this main administrator



(f)) persons, on which the main administrator of a qualified

participation, albeit only after the part of the relevant period, together with their

identification data, the amount and type of qualified participation and economic

the result of the following persons and an indication of the period for which the principal administrator

He had a qualified participation in these persons; If you are not available

the economic results of these persons, verified by the Auditor, the main

the administrator of the economic results of Auditor unauthenticated and this

the fact,



(g)) of persons who are excluded in accordance with subparagraphs (e) and (f))) and who acted in the

the relevant period with the main administrator in accordance with the indication of the

their identification data,



h) the judicial or arbitration disputes, of which the participant was or is

the main administrator on your account or to an account by administrovaného

Investment Fund or to a foreign investment fund, if

the value in dispute exceeds 5% of the value of the assets of the

the administrator or managed investment fund or

foreign investment fund, to which the dispute relates, in the applicable

period, and



I) persons that have been entrusted with the performance of the relevant period

individual activities, which includes the administration of investment fund

or to a foreign investment fund, together with their identification

data and activities, which have been entrusted with. ".



Article. (II)



The effectiveness of the



This Decree shall take effect on 1 January 2005. March 2016.



Governor:



Ing. Singer, Ph.d., in r.