87/1995 Coll.
LAW
of 20 December. April 1995
the savings and credit cooperatives and some measures with the
related and the addition of the Czech National Council Act No. 586/1992 Coll., on the
income tax Act, as amended
Change: 100/2000 Sb.
Change: 406/2001 Sb.
Change: 212/2002 Sb.
Change: 257/2004 Coll., 280/2004 Sb.
Change: 377/2005 Sb.
Change: 413/2005 Sb.
Change: 56/2006 Coll., 57/2006 Coll., 70/2006 Sb.
Change: 120/2007 Sb.
Modified: 296/2007 Sb.
Change: 126/2008.
Change: 254/2008 Sb.
Change: 230/2009 Sb.
Change: 285/2009 Sb.
Change: 156/2010 Sb.
Change: 160/2010 Sb.
Change: 281/2009 Coll., 409/2010 Sb.
Change: 41/2007 Sb.
Change: 73/2011 Sb.
Change: 139/2011 Sb.
Change: 41/2007 Coll. (part)
Change: 420/2010 Coll., 470/2011 Sb.
Change: 37/2009 Sb.
Change: 254/2009 Sb.
Change: 227/Sb.
Change: 241/Sb.
Change: 303/Sb.
Change: 135/2014 Sb.
Change: 458/2011 Coll. 135/2014 Coll. (part), 333/2014 Sb.
Change: 333/2014 Coll. (part)
Change: 219/2015 Sb.
Parliament has passed the following Act of the United States:
PART I
§ 1
General provisions
(1) this Act incorporates the relevant provisions of the European Union ^ 1)
at the same time follows the directly applicable European Union regulation ^ 38) and
modifies some of the relationships associated with the creation, entrepreneurship and the demise of
savings and credit cooperative societies (hereinafter referred to as "Credit Union"). This
the law also regulates the supervision of credit unions, which carries out
The Czech National Bank, and the insurance of receivables from deposits in cooperative
three other.
(2) the authorisation as a Credit Union (hereinafter referred to as "permits")
awarded the Czech National Bank (§ 2a) team, based in the Czech Republic
to perform the following activities
and) acceptance of deposits from its members and
(b)), the granting of loans to its members.
(3) the trade name (hereinafter referred to as "the company") credit unions must contain
the designation "savings and credit cooperative", "Credit Union",
"savings cooperative" or "credit cooperative"; This designation is
entitled to use only legal person incorporated under this Act.
(4) the Credit Union is not a Bank, under the law governing the activity of the
the Bank and its business is not considered trade ^ 2).
(5) the Credit Union
and) is approved only for activities provided for in this Act,
in the scope of the existing authorisation,
(b)) when your business is required to proceed with caution and with due
care, in particular to conduct business in a manner that does not endanger the return on deposits
of its members and its security and stability,
(c)) shall not enter into contracts at arm's length for
the Credit Union, in particular those which undertake cooperative Union to
economically unjustified transactions or transactions strikingly little worthy of
provided the consideration; a breach of this terms and conditions determined by the invalidity
of the Treaty,
(d)) cannot be the child of a bond issuer ^ 3),
e) may not take the claim condition of subordination within the meaning of the bound
the law governing bonds ^ 3) in another credit institution,
as a dealer in securities, a financial institution or by a person having
qualifying holdings in the Credit Union they alone or acting in a
conformity with the other person.
(6) the Approved financial statements, ^ 3a) annual report and a copy of the authorization must
be posted on a publicly accessible place in the headquarters of the credit unions,
in its branches, expoziturách and jednatelstvích.
(7) the Credit Union is required to seek the prior approval of the United
the National Bank for the conclusion of the contract on the basis of experiencing any
available with a commercial plant or its parts. Cessation of trading
race of the cooperative záložnou or part thereof is not permitted.
(8) the Credit Union is not entitled to acquire a direct or indirect share
in the capital of a legal entity, to become a member, partner,
shareholder legal entity, or in any other way acquire influence over the management
of the legal entity.
(9) close links for the purposes of this Act, means the close links
According to the article. 4 (4). 1, point 38 of the European Parliament and of the Council (EU)
No 575/2013.
§ 1a
(1) for the purposes of this Act, means the
and) a credit institution, a credit institution referred to in article. 4 (4). 1 (1)
European Parliament and Council Regulation (EU) no 575/2013
(b)) a financial institution a financial institution referred to in article. 4 (4). 1, point 26
European Parliament and Council Regulation (EU) no 575/2013
(c) the credit institution) of institutions referred to in article. 4 (4). 1 (1) and investment
the undertaking referred to in article. 4 (4). 1 point 2 of the regulation of the European Parliament and of the Council
Regulation (EU) no 575/2013
(d) a person associated with the associated person) according to art. 4 (4). 1, point 35
European Parliament and Council Regulation (EU) no 575/2013
(e) consolidation of the controlling group) total of a credit institution or
Group financial holding of a person or a group of mixed holding
persons, the consolidation all have a minimum of 2 persons,
f) controlling credit institution, a credit institution, which controls
at least one credit union,
g) financial holding person the person referred to in article. 4 (4). 1, point 20
European Parliament and Council Regulation (EU) no 575/2013
h) mixed-activity holding a person the person referred to in article. 4 (4). 1 paragraph 22
European Parliament and Council Regulation (EU) no 575/2013
I) a mixed financial holding person the person referred to in article. 4 (4). 1 point
21 of the European Parliament and Council Regulation (EU) no 575/2013
j) group controlling the credit institution group formed by the credit
institutions, its controlled entities and associated persons that are
institutions, financial institutions or ancillary services,
to the financial holding group of the person) of the group formed by the financial
holding a person, its controlled entities and associated persons
are institutions, financial institutions or ancillary
services,
l) by a group of mixed-activity holding persons group composed of mixed
holding a person, its controlled entities and associated persons
are institutions, financial institutions or ancillary
services,
m) domestic financial holding person the person referred to in article. 4 (4). 1 point
30 European Parliament and Council Regulation (EC) no 575/2013
n) European controlling the credit institution controlling the credit institution
with its registered office in a Member State, which is not controlled at the same time another
credit institutions which have been granted permission to conduct business in
any Member State, a person or a mixed financial holding
financial holding a person domiciled in any Member State,
about) the European financial holding person the person referred to in article. 4 (4). 1 point
31 of the European Parliament and Council Regulation (EU) no 575/2013
p) domestic mixed financial holding person the person referred to in article. 4
paragraph. 1, point 32 regulation of the European Parliament and of the Council (EU) no 575/2013
q) European mixed financial holding person the person referred to in article. 4
paragraph. 1, point 33 of the European Parliament and of the Council (EU) no 575/2013
r) responsible cooperative záložnou in a group of financial holding of the person
Credit Union-controlled financial holding person with headquarters
1. in the Czech Republic, if the person does not control these financial holding
No Bank,
2. in another Member State, if this is a financial holding, the person at the same time
does not control a credit institution that has been granted permissions to the performance
activity in that Member State, or a credit institution with greater
the balance sheet total, which has been granted permissions to perform activities in another
Member State, or
3. in a non-Member State, if the Czech National Bank being
under section 25e para. 6 from the exercise of supervision on a consolidated basis over the
the financial holding group of the person;
If in such a consolidation more credit unions,
the responsible cooperative záložnou in a group of financial holding of the person is
means a credit union with the largest balance sheet total,
with) responsible záložnou in the group controlling cooperative credit
Credit Union institutions controlled by controlling a credit institution,
that has been granted permissions to perform activities in a non-member
State if the Czech National Bank being under section 25e para. 6 from
of exercising supervision on a consolidated basis over that of the controlling group
the credit institution; If in such a consolidation more
credit unions, cooperative záložnou in the group responsible
the controlling shareholder of the credit institution shall mean a credit union with the largest
the balance sheet total,
t) responsible cooperative záložnou operated a mixed financial
holding a person Credit Union operated a mixed financial
holding a person with headquarters
1. in the Czech Republic, if the person does not control these financial holding
No Bank,
2. in another Member State, if this person mixed financial holding
at the same time does not control a credit institution that has been granted permissions to
exercise of the activity in that Member State, or a credit institution with greater
the balance sheet total, which has been granted permissions to perform activities in another
Member State, or
3. in a non-Member State, if the Czech National Bank being
under section 25e para. 6 from the exercise of supervision on a consolidated basis; If
in such a consolidation more credit unions, responsible
cooperative záložnou the controlled person is a mixed financial holding
means a credit union with the largest balance sheet total,
ancillary services for) ancillary services undertaking pursuant to article. 4 (4).
1 point 18 of European Parliament and Council Regulation (EU) no 575/2013
in) by the Member State, the Member State of the European Union or other State forming
The European economic area,
w) consolidated basis a consolidated basis pursuant to article. 4 (4). 1
section 48 of the European Parliament and of the Council (EU) no 575/2013.
(2) in the case where custody of persons within the consolidated entity are
such a character that it is not possible to uniquely identify a controlling person
or its type, the Czech National Bank is authorised to determine, in agreement with the
the competent authority of the supervision of credit institutions or financial
the institutions controlling person of the consolidated group or its type.
section 1b
The Czech National Bank shall be the competent authority, and is at the same time
the designated authority in accordance with regulation directly applicable in the European Union
governing the prudential requirements.
Some of the provisions on the establishment and the emergence of credit unions
§ 2
the title launched
(1) the Credit Union shall have at least 30 members.
(2) the share capital shall be at least 500 000 CZK.
(3) prior to the application for a permit (§ 2a) must be repaid the amount in
of at least 35 0000 0000 Eur, which represents the share capital,
where appropriate, the venture fund and the reserve fund if they are created when establishing the
the credit unions.
(4) the representation of the people at the constituent meeting is inadmissible.
(5) the application for registration in the commercial register shall be accompanied by the authorization.
Granting of an authorisation, withdrawal and changes are included in the entry into the
the commercial register.
(6) the registered office of the Credit Union shall be on the territory of the Czech Republic.
§ 2a
(1) to the development of business and the credit unions are subject to authorisation.
Authorisation is granted on the basis of a written request from the Czech National Bank. The request of the
for granting an authorisation can be made only on the prescribed form, to which
the applicant shall be accompanied by documents certifying compliance with the conditions referred to in
paragraph (4). Forms and contents of their annexes laying down detailed
legal prescription.
(2) on an application for the grant or amendment of the authorisation, shall decide the Czech national
the Bank after the assessment of the conditions for granting the authorisation or amendment of an authorisation to
6 months from the date of commencement of the administrative procedure and decision within this period
delivers. If the application was not complete and the Czech National Bank sought her
the tween, the Czech National Bank will decide within 12 months from the date of the initiation of the
administrative proceedings and decisions in this period of time. It was the Czech
National Bank requested completion of the application, and the application is not accompanied by
complete or is not complied with by the applicant, the period provided for the Czech
the National Bank to its complement, the Czech National Bank is entitled to
the administrative procedure for granting an authorisation to stop. Before a decision to
the application for authorisation shall consult with the Czech National Bank with the authority of its intention
supervision of credit unions of the State concerned, if required
the international treaty.
(3) the authorisation shall be granted for an indefinite period. The authorisation shall include the definition of
approved activities, and can include the definition of the scope of the permitted
activities, but not in the sense of limiting the number of individual business
cases. The authorisation may also include determination of the conditions which
obligation to the Credit Union to meet before the start of any permitted
activity, or to comply with them in the performance of any of the allowed
activity. A permit expires on the date the acquisition of the decision to withdraw the
permit or on the date of cancellation of the credit unions.
(4) for the grant of authorisation shall be subject to the following conditions:
and the competence and credibility of) the applicant for an authorisation under
paragraph 1,
(b)) the competence, credibility and experience of the members of the Board,
the Audit Commission and Commission credit credit unions and meeting other
requests to the authorities of the credit unions and their members pursuant to section 7aa,
(c)) of the technical and organizational conditions for the performance of the proposed activities
credit unions, arising in particular from the statutes of the credit unions,
the design of management and control system including system Credit Union
risk management, internal rules, or other credit unions;
technical and organisational requirements for the purposes of this Act,
justification for the purpose of establishing the means, in particular the credit unions and
strategic plan of development of the market, in particular under the processed
orientation to the members of the credit unions, according to the economic sector,
the region, type and nature of the services to be provided, the security
the corresponding computational, information, accounting, and
statistically-accounting systems of credit unions, security
a sufficient number of employees or individuals who carry out
their activities under the command of another (hereinafter referred to as "the worker"), who will
to ensure the planned activities of credit unions, and security
the appropriate structure and organization of credit unions,
(d)) the reality of the business plan and the ability to secure the development of a cooperative
unions with regard to General knowledge and experience,
(e)) the competence and credibility of the natural or legal persons
with a qualified interest in the cooperative savings bank (Section 2b, paragraph 1) and not more than
20 members with another Member contribution, if they do not have a qualifying holding
(Section 2b, paragraph 1), to exercise the rights of a member in relation to the business of the cooperative
unions in accordance with § 1 (1). 5 (b). (b)),
f) transparent and safe origins of the amounts referred to in § 2 (2). 3, from which the
creating capital, a venture fund and reserve fund, if they are
created,
g) repayment of the amounts referred to in § 2 (2). 3,
h) transparency group of people with close links to cooperative záložnou,
I) close links within the groups referred to in subparagraph (g)) does not prevent the exercise of
supervision,
(j)) in the State on whose territory the group referred to in subparagraph (g)) close links,
they are not legal or de facto barriers to exercise supervision.
(5) the Czech National Bank shall issue a decree a list of instruments and their
requirements to demonstrate
and the professional competence and credibility) of the applicant for an authorisation under
paragraph 4 (b). and)
b) professional competence and trust people elected members
the Board of Directors, of the Audit Commission and the credit of the Commission pursuant to paragraph 4
(a). (b)), and
c) professional competence and trustworthiness of natural or legal
persons with a qualified interest in the cooperative savings bank and members with the next
Member contribution to the exercise of the rights of the Member in accordance with the provisions of paragraph 4
(a). (e)).
(6) the amendment of the authorisation shall be decided by the Czech National Bank on the basis of a written
request credit unions. When deciding on the amendment of the authorisation it shall proceed
The Czech National Bank as when deciding on the grant of authorisation.
This provision shall not apply to decisions of the Czech National Bank pursuant to §
28. When deciding on the amendment of the authorisation conditions in accordance with paragraph 4 (b).
f) and (g)). The Czech National Bank shall reject the application for amendment of an authorisation
always, if capital does not reach the amount of the Credit Union at least 35 000
000.
(7) the Czech National Bank is entitled to request a copy of the registration
Criminal records relating to natural persons, who are the founders of
credit unions and members of the authority of the credit unions.
Section 2b
(1) a qualified interest for the purposes of this Act, the
qualified participation according to art. 4 (4). 1, point 36 of regulation of the European
Parliament and of the Council (EU) no 575/2013. Indirect proportion for the purposes
This Act, the market share held by other persons or
a group of people acting in concert.
(2) for the purposes of calculating the qualified participation in the cooperative savings bank in accordance with
paragraph 1 shall be counted and the shares in the capital or on the
the voting rights are exercised by a representative of the persons referred to in
paragraph 3, on the basis of power of attorney.
(3) the person or persons acting in concert, must have the permission of the United
the National Bank of
and the acquisition of a qualifying participation) on cooperative savings bank,
(b)) to increase qualifying holdings in the Credit Union they so that
reach or exceed 20%, 30% or 50% or so
(c)) to have become the persons controlling the Credit Union,
even in the case that these persons voting rights attaching to the shares, as follows
participation in the cooperative savings bank engaged; nevykonáváním voting
There is no change in the share rights of voting rights to these or any other
persons.
(4) the Czech National Bank not later than 2 business days from the date of receipt of the
the request for approval referred to in paragraph 3 shall confirm to the applicant in writing of its
adoption and shall inform it of the date on the end of the time limit for
examination of the application provided for in paragraph 6. The request contains information about a person
or persons intending to acquire or increase a qualifying holding on
cooperative savings bank or Credit Union to dominate, information about
cooperative savings bank, which is supposed to be such a participation is acquired, increased or
that has to be mastered, the total amount of the market share of the applicant on the
This cooperative savings bank acquisition or increase of qualifying holding
reaches or gets control of the data of the person, and that the applicant's share of the
Converts. To the application, the applicant shall be accompanied by the documents necessary for the assessment of
the application in terms of compliance with the conditions referred to in paragraph 9. The request for
consent can be made only on the prescribed form, to which
the applicant shall be accompanied by documents certifying compliance with the conditions referred to in
paragraph 9. Patterns of the forms and content of the annexes thereto lay down the Czech national
Bank by Decree.
(5) the Czech National Bank asks for the opinion of the supervisory authority of another
the Member State of the European Union after the adoption of the request for consent in
the cases referred to in paragraph 3, if a person with a qualified
the participation of the person who is asking to grant consent, is a person who has
the authorization of the supervisory authority of the Member State to act as a Bank,
insurance undertaking, reinsurance undertaking, investment firm or supplier
investment services, or is the controlling entity of such a person.
(6) If a submitted application is incomplete, or if you suffer from other disabilities, Czech
National Bank by 50. the day of the time limit laid down in paragraph 7
in writing, shall invite the applicant to remedy the deficiencies of the application, where appropriate, to
the submission of further information necessary for the examination of the application, and
receipt of the information requested by the applicant, in writing, the Czech National Bank
will confirm within the time limit referred to in paragraph 4. The date of dispatch of the invitation to run
the time limits laid down in paragraph 7 be interrupted, for a maximum period of 20
working days. The time limit laid down in paragraph 7 shall be suspended until the
a period of 30 working days if the applicant
a) has a domicile or place of business in a State which is not
Member State, or
(b)) is not subject to supervision by the Member State of the European Union
executing the supervision of banks, insurance undertakings, reinsurance undertakings,
investment services providers or foreign obhospodařovateli
investment funds.
(7) the Czech National Bank will issue a decision on the application within 60
working days from the date of dispatch of the written acknowledgement of receipt of the application
in accordance with paragraph 3. If the Czech National Bank decision within this period
unless otherwise instructed, the approval was granted. This does not apply in the case of a request for
consent filed pursuant to paragraph 15.
(8) the Czech National Bank in assessing the application examines only the fulfilment of the
the conditions referred to in paragraph 9 and disregard for economic
the needs of the market.
(9) the Czech National Bank request if, in terms of the potential impact
on the performance of the activities of credit unions are subject to the following conditions:
and) persons asking to grant consent, are trusted,
(b)) of the person, which are designed for members of the Board, the members of the
the Audit Commission and the members of the Commission and the person's credit at the height of the management
credit unions, which hold in the cooperative savings bank executive functions
and they are the responsible leadership of the credit unions for its day-to-day management,
meet without any apparent doubt, trust, professional condition
competence and experience,
c) sufficient volume, transparency of origin and lack of financial resources
the applicant, in relation to the activities carried out and planned in a cooperative
the savings bank,
(d)), the Credit Union will continue to be able to carry out the prudent rules
business to the individual and consolidated basis,
(e) the structure of the consolidated Group), to which the Credit Union
included, do not prevent the effective supervision of cooperative záložnou, effective
the exchange of information between the Czech National Bank and the supervisory authority of another
the Member State which exercises supervision over the financial market, or
neznesnadňuje performance of the individual institutions, supervision of the
consolidation and total over those included in this consolidation
a whole, and
(f)) in connection with the proposed acquisition or increase of qualifying
participation in the cooperative savings bank do not arise reasonable grounds for concern that could
be a violation of the law governing the measures against money laundering
crime and the financing of terrorism, or that such
violation has occurred.
(10) where the Czech National Bank in considering requests for consent finds
that the conditions referred to in paragraph 9 are not complied with, and consent cannot be granted,
shall inform the applicant in writing of the findings within 2 working days from the date of
make this finding. The Czech National Bank may justify negative
decision on the application for permission to publish, at the request of the applicant, or
even without this request.
(11) the decision on the request for the Czech National Bank
and may limit the period for) the acquisition of the participation referred to in paragraph 3,
b) conclusions of the resulting from opinions, who received the procedure
in accordance with paragraph 5 before issuing a decision.
(12) the person, or persons acting in concert, without undue delay, notify the
The Czech National Bank,
and lower their qualifying holdings) on cooperative savings bank so that
drops below 50%, 30% or 20%, or completely cease, or
(b)) lower their qualifying holdings in the Credit Union they so that it
cease to operate.
(13) the notification referred to in paragraph 12 contains the details of the person or persons
reduce or pozbývajících your qualified participation in cooperative
the savings bank or a person or persons přestávajících to control it, details of the
Cooperative Savings Bank and an indication of the level of participation in the cooperative savings bank after
reduction.
(14) for the purposes of an application referred to in paragraph 4 and the notice in paragraph 12,
information about the person means:
and legal persons) in the business name or the name, registered office and identification
number, if assigned,
(b)) in natural persons first and last name, date of birth, social security number,
If it was allocated, the address of the residence; for business to
commercial register business name, or place of business, and
the identification number, if assigned.
(15) the consent referred to in paragraph 3 can be used in cases of particular interest
of grant.
(16) the acquisition or increase of a qualifying holding in the cooperative savings bank
or her domination without the prior consent of the Czech National Bank has no
results in an invalid legal act, on the basis of which these
changes in the holdings of the cooperative savings bank has, however, voting rights
associated with such participation shall not be exercised by the acquired, until
the grant of this consent.
(17) the consent referred to in paragraph 3 or a notification under paragraph 12, the
not required if the acquisition of a qualifying holding or to increase
qualifying holding so that reach or exceed 20%, 30% or 50%
or to reduce the qualifying holdings below 50%, 30%, 20%, 10%, or
her loss otherwise than on the basis of the conduct of the person, or persons acting
in concert.
(18) the consent to the acquisition of a qualifying holding in the cooperative savings bank is
and shall be deemed to consent to the acquisition of a direct or indirect share or
their sum, which represents less than 10% of the capital
the credit unions or of the voting rights in the Credit Union they.
Consent to the increase of a qualifying holding in the cooperative savings bank so that
reach or exceed 20%, 30% or 50% for a cooperative savings bank,
and for agreeing to increase such participation so that it reaches or
exceeds the direct or indirect interest, or their sum, which represents
less than the share of the capital credit unions or
voting rights in the Credit Union they.
section 2 c
(1) if the Czech National Bank, that of the person with a qualified
participation in the cooperative savings bank is contrary to section 1 (1). 5 (b). (b)), or
person became a qualifying holding or to increase a qualifying holding on
cooperative savings bank without the prior consent of the limits referred to in § 2b
paragraph. 3, shall decide on the suspension of rights of a person with a qualifying holding
to participate in the meeting and to vote on it, and the right to require that a
the meeting of members. You can only suspend the exercise of all of the above rights.
A participant in the proceedings is the only person with a qualifying holding and cooperative
a Credit Union. Brought by a decomposition does not have suspensory effect.
(2) the Credit Union will not allow the participation of the person to whom the Czech national
the Bank suspended the rights referred to in paragraph 1, the membership meeting. When
the eligibility assessment meeting of members of credit unions and
in the vote on the membership meeting is not taken into account the votes of the members whose
the right to participate in the meeting and the vote has been suspended.
The suspension of the rights referred to in paragraph 1, the Czech National Bank cancels, if-
the reason for his release.
(3) the Credit Union is required to inform the Czech national
Bank on the acquisition of or changes in qualifying holding people for a cooperative
the savings bank, if these changes, as well as the conduct of other members are
exceeded or reduced the limits referred to in section 2b of paragraph 1. 3 and 12 to 5
working days after discovery of the facts.
(4) as a result of the fact that a person with a qualified interest in the cooperative
the savings bank was suspended rights pursuant to paragraph 1, there is no change
proportion of voting rights of the person or other persons.
section 2d
(1) credit unions are authorized to establish a branch within the territory of another
the Member State (hereinafter referred to as "the host State") and do business within its territory
in the scope of an authorisation only with the consent of the Czech National Bank.
(2) the request to grant consent to the establishment of a branch referred to in paragraph 1
the Credit Union shall indicate, in particular,
and the designation of the host State), in whose territory it intends to establish a branch,
(b) the business plan of the branch) containing an enumeration of the activities envisaged,
(c)), the organisational structure of the branch
(d) the address of the branch) in the host State, to which it will be possible to obtain
the necessary documents,
e) enabling unique identification of persons responsible for
management of the branch, which name or names, first and last name,
place of residence, social security number, if assigned, date of birth,
(f)) amount of capital credit unions as of the last day of the month
the preceding submission of the application,
(g) the amount of the capital ratio) according to art. 92 the regulation of the European Parliament
and Council Regulation (EU) no 575/credit unions as of the last day of the month
the preceding submission of the application.
(3) the Czech National Bank will decide on the request to grant consent to the
the establishment of a branch of the credit unions in the territory of the host State to 3
months from the date of receipt of a complete application. The conditions for granting the consent
are
and) financial stability of credit unions,
(b)) the organizational structure of credit unions business enabler
credit unions in accordance with § 1 (1). 5 (b). (b)).
(4) the Czech National Bank supervisory authority shall transmit to the host State the information
pursuant to paragraph 2 within 3 months from the date of their receipt. If The Czech
National Bank refuses to pass the supervisory authority of the host State data
pursuant to paragraph 2, this decision within this period effect.
(5) If the Czech National Bank refuses to pass the supervisory authority
the host State the information referred to in paragraph 2 or otherwise within the time limit
laid down in paragraph 4, the Credit Union may seek relief in
the Court.
section 2e
(1) the Credit Union is authorized to establish a branch and do business in the territory of the
the host Member State under the conditions laid down by the legislation of the
the host State and after the determination of the conditions of the State supervisory authority
for the establishment of a branch and business. In the absence of Credit Union
conditions referred to in the first sentence, within two months from the date of delivery of information
supervisory authority of the host State pursuant to § 2d paragraph. 3 and 4, shall be authorised to
establish a branch and commence activities this deadline.
(2) if the Credit Union intends to make changes in the facts referred to in
section 2d paragraph. 2 (a). b) to (e)), is required to give notice at least 1 month ago
their implementation of the Czech National Bank and the supervisory authority of the host
State. Changes in the facts referred to in section 2d paragraph. 2 (a). b) to (e))
subject to the consent of the Czech National Bank and any communication or
the determination of the conditions of the supervisory authority of the host State pursuant to paragraph
1, unless otherwise provided by this Act. In deciding to grant the consent of the
the Czech National Bank shall proceed pursuant to section 2d paragraph. 3. The Czech National Bank on the
the changes shall have 30 days from the date of receipt of a complete notification of the
the proposed amendments to the cooperative záložnou.
section 2f
If the Credit Union intends to engage in activities in the territory of
of the host State to the extent of the authorisation given to her by the Czech national
the Bank, without establishing a branch, if their operation does not have the character of a
permanent economic activity, it shall notify its intention in writing the specifications
activity carried out at least 60 days before the commencement of the activities of the United
the National Bank. The Czech National Bank shall notify the supervisory authority of the host
State the intention of the credit unions to operate in its territory within 30
days from the date of receipt of the notification of the credit unions.
§ 2 g
(1) supervision of a branch of the Credit Union on the territory of the host State
the Czech National Bank carries out.
(2) the Credit Union is required to provide to the host State the
his request for information and regular reports in the form of statistical
information about the business of its branch in the territory of the host Member State for the purposes of
the host State exercising supervision, including the data necessary for the
decision on the designation of a branch as significant under section 22b.
(3) if the supervisory authority of the host State on the basis of the information the United
National Bank pursuant to § 22a discovers that the credit union or its
a branch on its territory violates the provisions of the legislation of the
of the host State, or directly applicable European Union legislation
governing the prudential requirements or if there is reason to suspect that
violates any of the provisions of the legislation of the host Member State or directly
of the applicable legislation of the European Union governing the prudential
requirements, the Czech National Bank after prior notification to the supervisory authority
the host State shall take suitable measures to remedy under §
28 seeking to remove violations of these rules or to avert
the risk of such a breach and without undue delay about them
inform the supervisory authority of the host State.
(4) if the supervisory authority of the host State shall, because of the emergence of
emergency measures to protect the financial stability and
common interests of clients or investors, credit unions in
the host Member State and with the Czech National Bank
the measures do not match, you may request the European banking authority of
settlement of the dispute by the directly applicable European Union legislation
relating to the supervision of financial markets in banking ^ 39).
section 2 h
(1) the Czech National Bank shall inform the competent authority of the host
State, take a decision on the prohibition of the disposal of depositors with their deposits
under this Act, in the event that the Credit Union is taking on
the territory of that State; This information shall provide the competent supervisory authority
without undue delay after its release.
(2) prior to a decision on the amendment or withdrawal of authorisations cooperative savings bank,
that operates on the territory of the host Member State, the Commission shall consult the Czech national
the Bank of its intention with the supervisory authority of that Member State. If the case does not tolerate
delay, the Czech National Bank shall inform the supervisory authority of its intention
permission to change or remove. The Czech National Bank informs about changing
or withdrawal of authorization the supervisory authorities without delay to the State in which the
the Credit Union does business.
(3) the withdrawal of a permit under section 28 g cooperative savings bank shall inform the Czech
National Bank supervisory authority without delay of the host State in which
the Credit Union's business.
section 2i
Business credit unions, including their branches operating in the
the territory of the host State, subject to the supervision of the Czech National Bank, including
spot checks after previously informing the supervisory authority of the host
State. The Czech National Bank may request the competent supervisory authority
of the host State to take control of the territory of the host State.
section 2j
Cooperative savings bank in granting the authorization group
(1) before issuing a decision on the application for the grant of authorisation cooperative
the savings bank (§ 2a) shall request the opinion of the Czech National Bank supervisory authority
the Member State carrying out supervision of credit institutions,
traders in securities or insurance companies, if the person to whom the
a permit should be granted, controlled by the
and foreign credit institutions) established in a Member State,
(b)) a person that has the authorisation of the competent supervisory authority of the Member State
to the provision of investment services,
(c)) by the insurance company that has the authorisation of the competent supervisory authority of the Member
State,
(d)) a person that controls the person referred to in (a)), b) or (c)).
(2) the competent authorities referred to in paragraph 1 shall inform each other, in particular when
assessment of the suitability of the members, managers, supervised persons and
continuously exchange information important in granting permission to
activities and supervising their activities.
§ 3
Business credit unions
(1) the Credit Union shall be entitled to exercise within your business
In addition to the activities referred to in section 1 (1). 2 (a). a) and b) these additional
activities, if it is listed in the authorisation granted:
and financial leasing) for members
b) payments, clearing and issuing and payment management
^ 3e) resources for members
(c)) the provision of guarantees in the form of guarantees or financial guarantees for members
(d) the opening of letters of credit for members),
(e) the provision of direct debits for members),
f) purchase and sale of foreign currency for the members
g) safety deposit box rental members.
(2) for the sole purpose of ensuring the activities referred to in paragraph 1, and article 1 (1). 2
(a). a) and b) is a credit union shall be entitled to
and deposits in cooperative) and three other banks and branches
foreign banks,
(b)) to receive loans from credit unions and banks,
(c)) for the purposes of ensuring acquire their own operation and dispose of
him,
d) deal on own account foreign exchange and the exchange rates and
interest rates in order to ensure the risks arising from the activities of the
under this Act ",
e) deal on own account in securities admitted to trading
on a regulated European market,
(f)) to trade on their own account, the issuer of the bonds is a Member
State of the Organisation for economic cooperation and development or the Central
the Bank of that State bonds, which has assumed a guarantee for the Member State
The Organisation for economic cooperation and development, and bonds issued by the
The European Investment Bank, the European Bank for reconstruction and development or
International Bank for reconstruction and development and other international financial
the institutions, which is a member of the Czech Republic,
g) make trades with the Czech National Bank under the law governing
activities of the Czech National Bank.
(3) other assets other than that credit union shall be entitled to recover under
paragraph 2, it may take only in relation to the achievement of its
the claim, for a maximum period of 6 months. In this case, the
the provisions of § 1 (1). 8 the first sentence shall not apply. This time limit does not apply
the property acquired on the basis of a transfer in accordance with the precautionary
of the civil code, or on the basis of the transfer of the financial collateral in the
benefit of recipient of financial collateral under the law governing
financial collateral ^ 3 g).
(4) deposits Received leads the Credit Union to deposit accounts. A summary of the
the balances of deposits member associated with interest or equivalent benefit must not
exceed ten times its capital of a member summary
the deposit and another Member of the paid deposit. The contract closed at
the performance of the activities referred to in paragraphs 1 to 3 and § 1 (1). 2 (a). a) and b) must
be in writing.
(5) the performance of the activities of credit unions referred to in paragraph 1 and article 1 (1). 2
(a). a) and b) for the State and its branches, higher territorial
local authorities and municipalities, legal persons established by them, or in which the
the State, higher territorial self-governing units or municipalities exclusive
unit-holders, and for other public corporations managing public
resources is not subject to their membership.
Some of the provisions for membership in the cooperative savings bank
§ 4
the title launched
(1) the Credit Union is required to familiarize the applicant for membership with all
factors associated with membership, in particular with the statutes,
These terms and conditions, rights and obligations stemming from the membership and
terms of deposit insurance, terms of lending and other
the activities of credit unions, which carries out on the basis of an issued
the authorization. If there is a change of these facts, it is Credit Union
obligation to its members about the changes in time and properly informed. The Credit Union
is required to provide the information in writing to members in the Czech
the language or languages of the States in whose territory they are operating.
(2) the cooperative share passes to the successor in title of a member who died
or has lapsed. If it is not the legal successor of a person eligible for membership in the
cooperative savings bank, the successor to the membership of a cooperative transition
the share does not arise.
(3) the distribution of the shares of members who died or disappeared, while
his transition to the successor is not permitted.
(4) the Member is entitled to convert the cooperative share to another person. If
the subject of the transfer of the cooperative share only from the next member of the deposit,
You can only convert a cooperative share to member credit unions.
Agreement on the transfer of shares to the purchaser shall be subject to the consent of the
Board of Directors of credit unions. If in the agreement on the transfer of
cooperative share not specified date later becomes licensee
transferred by decision of the Board of Directors of the cooperative share approval
agreement on the transfer of shares. If the transfer of shares
subject to the granting of prior consent of the Czech National Bank pursuant
in paragraph 5, the purchaser may acquire the cooperative to be converted first
the date of consent to the Czech National Bank.
(5) if the transfer of shares would result in that the
transfer of shares of the acquiring member took a qualifying holding
on the cooperative savings bank or increased his qualifying holding so that the
reaches the limits set out in section 2b of the paragraph. 3, the conversion of a cooperative
share subject to the prior approval of the meeting of members of credit unions
and the granting of prior consent of the Czech National Bank. The application for the grant of
the consent must be given credit záložnou within 30 days from the date of
approval of the agreement on the transfer of shares the membership meeting. An attachment
the application consists of the membership meeting approved the agreement on transfer of a cooperative
share, write, the meeting of members, who approved the agreement on the transfer of
cooperative share, and documents necessary for the assessment of the criteria
referred to in § 2b para. 9. For management and decision making of the Czech National Bank
on the request to grant consent to the provision of section 2b, paragraph 1. 4 to 11 shall apply
by analogy. Granting of prior consent of the Czech National Bank is replaced by
consent pursuant to section 2b, paragraph 1. 3.
(6) when voting, each Member has one vote. Members who insert an additional
Member contribution (section 4b), it is incumbent on one vote for each whole multiple of
of capital. The decision to exclude a member meeting
Member, about the change of the articles of Association, concerning the election and dismissal of a member of the Audit Committee, the
sale or lease of the business establishment or part thereof, on the other
major property dispositions, to change the legal form of a cooperative
unions (article 13, paragraph 5), and the Division and merger of another cooperative cancellation
unions are required as well as consent of the members without taking into account the vote of the
other Member deposits.
(7) the Credit Union shall be entitled to his due debts owed by the debtor
set off against interest from deposits, deposits and share of settlement (section 4 c),
and even at the time issued a decision on the prohibition of the disposal of depositors with the
their deposits. The Credit Union is also entitled to reject payment
the interest payments, deposits or share of the settlement of a debtor who is in default shall
Furthermore, other payments or debts to the cooperative savings bank.
(8) the assignment of receivables members for cooperative záložnou, resulting
deposits at credit unions, members can only be made between members of the
the credit unions.
Section 4a
cancelled
§ 4b
Member contribution
(1) a member may be the only cash deposit. The amount of Member
the deposit is the same for each Member.
(2) if permitted by the statutes, the Member may insert in the share capital
credit unions more Member deposit. The amount of the deposit,
When you insert it into the share capital of credit unions must be
always an integral multiple of base of capital. Other Member
a deposit must be paid in one lump sum, with the exception of the cases referred to in § 2b
paragraph. 3.
(3) a member is entitled to reduce the amount of additional capital by a maximum of 20
% of its original amount every 12 months from the date of its repayment
provided that the other Member deposit remains an integral multiple of
of capital. To reduce the amount of deposit
occurs on the day of delivery of the written notification of a member of this fact
cooperative savings bank.
(4) the property settlement with a reduction of another Member of the deposit is
shall be calculated by analogy with the settlement amount. For the purposes of the calculation,
It takes into account only the amount by which the other Member contribution decreases. For
the payment of the securities settlement section 4 c of paragraph 1. 2 apply mutatis mutandis.
(5) subject to the conditions laid down in this Act, a member may acquire
more other Member deposits.
(6) determine if the statutes, a person is leaving the Member contribution after the occurrence of
credit unions have to pay along with the basic member contribution
or other Member contribution and premium. Method of determining the premium determined
the statutes. Paid premium is part of the risk fund credit unions.
§ 4 c
Settlement amount
(1) the amount of the share of the settlement is determined by the ratio of capital,
where appropriate, the reduction of the deposit of this member in the accounting
period, which in a given accounting period, membership to the sum of
Summary of all Member deposits and decrease other Member deposits,
relating to the accounting period of the Association, all members of the last day
of the accounting period and the sum of all Member deposits and decrease
other Member deposits, members in the accounting period has been terminated
membership. The ratio thus obtained is multiplied by the amount of the equity after
the deduction of the amount of the risk of the Fund and the amount of the reserve fund. To determine the amount of
the settlement share is determined the status of the equity after deduction of
Venture Fund and Reserve Fund according to the ordinary financial statement for the year
in which the membership has been terminated. Settlement amount Member, that of cooperative
unions got out because he disagreed with the change of the legal form of
credit unions, is determined from the final or interim financial
the accounts under the law governing the conversion of commercial companies and
cooperatives.
(2) the settlement amount shall be payable within three months from the date of approval of the proper
the financial statements for the financial year in which the membership has been terminated. Cooperative
the Credit Union will postpone the payment of the share of the settlement, or part thereof, if the
the payout could endanger the fulfilment of the requirements under the directly applicable
Regulation of the European Union governing the prudential requirements ^ 38),
in particular, taking into account the factors referred to in article. 10, paragraph 1. 3 of regulation
The Commission delegated Regulation (EU) no 241/2014, for a period, before
the reasons for which payment has been deferred.
(3) the annual financial statements must be submitted to the credit unions, Member
meeting for approval within 6 months from the last day of the accounting period.
§ 5
The statutes of the
(1) the statutes must contain
and the name and address),
(b) the nature of the business)
(c)) the emergence of, the demise of and conditions for membership, fundamental rights and duties of the members
the cooperative savings bank and credit unions to members
(d)) the amount of capital and the manner of its repayment, and, where appropriate,
the amount of the initial deposit,
e) bodies and the number of their members, the length of their term of Office,
the method of alignment, scope, methods of their convening and conduct and
time limits within which they meet,
(f)) how to use the profit and loss method of payment,
g) amount of capital,
h) time for termination of membership by the Member,
I) option to insert other Member deposits,
j) the authority and responsibility of Board members, Audit Committee and
the credit of the Commission,
to the amount of the enrolment fees), that are used to cover the expenditure related to the creation of
membership,
l) the manner and extent of transfer of the powers of the credit the Commission to other persons,
m) the conditions providing the information,
n) financial regulations, which stipulates, in particular,
1. types of other funds, the amount thereof and the method of their creation and
use,
2. the amount of the risk capital and reserve fund, their creation and use,
3. the conditions for the provision of financial services,
4. credit policy
5. the basic kinds of deposits and loans and the limits of remuneration.
(2) a credit union may also adjust the power of Association Member
meeting to lay down in a contract for the performance level of the ratio between fixed and
variable remuneration higher than 100%, with the overall level of
the variable component shall not exceed, for any of the individual 200% fixed
his total remuneration components.
Some of the provisions on the institutions ' credit unions
Section 5a
(1) the adoption by the meeting of members must be, in the case of a vote on the
merger or Division of credit unions, the consent of at least two thirds of the
the votes of the members present.
(2) replacement membership meeting may be convened by the same invitation as
the original membership meeting. The invitation must contain the warning that the replacement
the general meeting is quorate for any number of employees
members. Replacement membership meeting convened as follows may be initiated at the earliest
After 30 minutes of the scheduled start of the original member meeting
referred to in the invitation. The details governing statutes.
(3) the decision of the meeting of members of the reduction in the amount of the basic member
the deposit without the prior consent of the Czech National Bank, which shall examine the
reduction in the amount of capital in relation to the obligations
credit unions follow the rules specified in § 11 and part four
and the sixth European Parliament and Council Regulation (EU) no 575/2013
regard to the safety and stability of the credit unions, is invalid.
The decision of the meeting of members of the merger on the abolition, and the allocation of credit
unions without the prior consent of the Czech National Bank is invalid.
(4) the official receiver shall convene at the request of the Czech National Bank to
30 days of its delivery to the membership meeting solely for the purpose of approval
ordinary financial statements. For convening a meeting of the insolvency administrator
shall apply mutatis mutandis the provisions of articles of Association, a special Act and section 5a paragraph 2. 2.
The costs of convening and holding of the meeting of members, the costs are
associated with maintenance and management of nature under the special law. ^ 5a)
§ 6
the title launched
(1) in addition to the authorities of the ustavovaných under the law governing legal relations
commercial companies and cooperatives constituted Credit Union credit
the Commission, which has at least three members. The credit of the Commission shall not be
a member of the Board of Directors, a member of the Audit Committee the credit unions or
the person responsible for the performance of the internal audit.
(2) Credit the Commission elects the general meeting from among the members of the credit unions
the credit unions.
(3) a credit Commission decides on the
and the granting of loans to members under) of the statutes,
(b)) the provision of guarantees in the form of guarantees or financial guarantees for members
(c)) credit reinsurance.
(4) determine if the statutes so provide, is a credit Commission to transfer part
exercise of its powers to other persons, in the manner specified in the
the articles of Association. This does not affect the liability of the members of the Commission, pursuant to section 6a of the credit
paragraph. 2.
(5) the Board shall act in addition to the things under this Act and the law
governing the legal relations of the trading companies and cooperatives, or
According to the statutes
and credit Commission) at the request of the remuneration of deposits and loans, credit
other cooperative savings bank or a Bank and on the adoption credit from other cooperative
credit unions or banks and accepting a deposit from other credit unions or
the Bank,
(b)) dealing on own account with the currency exchange rate tools and
interest rates in order to ensure the risks arising from the activities of the
According to § 3 (2). 1,
(c)) on trading for its own account with the registered securities
(d) the fee for activities) and services provided to members.
(6) the Board shall draw up an annual report and submit it along with the
financial statements for approval by the membership meeting. This member
the meeting is to be convened so that it is held within six months after their
the financial year for which the annual report is drawn up. Approved by the
annual report of the Board of Directors of the Czech National Bank will send within 10 days from the
its approval. Draft annual report shall be provided to the members of the
at least 30 days before the date fixed for the meeting in a manner according to the statutes.
(7) each institution the credit unions act according to the rules of procedure, that
approves the membership meeting.
(8) when you vote in the elected bodies of the credit unions, each Member of the
one vote.
(9) the Audit Committee of the cooperative in relation to Board of Directors
cooperatives under the law governing legal relations of business companies
and cooperatives can control Commission credit unions apply also
to the credit of the Commission.
(10) members of the elected bodies of the credit unions are required to immediately
and fully inform the Czech National Bank of all the facts, that would
may result in risk management credit unions or
the application of the procedure referred to in section 28, and the loss of professional competence, or
Trust members of the elected bodies of the credit unions. The members of the
elected bodies of the credit unions are required to carry out their activities
with professional care. They are required to perform their functions so as to avoid affecting the
the return on deposits of members of credit unions and its safety and
stability in relation to forest management.
(11) the members of the elected bodies of the credit unions who have violated their
the obligations of the Member elected body of credit unions
arising for them from the law or the articles of Association, shall be jointly
and severally liable for the damage resulting from the creditors of the Credit Union by
as a result of this breach of the obligations of the members of the elected bodies of the
the Credit Union is unable to pay its overdue debts.
§ 6a
(1) a member of the elected body of the credit unions can only be
a trustworthy and competent person. In the statutes may be mentioned
to which other features with this condition applies.
(2) members of the elected body, who caused the cooperative savings bank
violation of legal obligations in the performance of the scope of the elected body
damage, are responsible for this damage, jointly and severally.
§ 7
Conflict of interest
(1) loans to members of the elected bodies of the credit unions, their members,
who have an employment relationship in the cooperative savings bank, and their relatives
under the civil code may be granted only under the conditions under which
loans are provided to other members of the credit unions, with
and members of the Audit Commission,) members, who have an employment relationship in
cooperative savings bank, and their relatives can provide only loan with
the prior consent of the Board,
(b) members of the Board of Directors, members of the) credit Commission and their relatives
the loan can be granted only with the prior approval of the Audit Commission.
(2) The credit Commission and Member, to whom was entrusted according to the statutes
the competence to decide about the granting of a loan may not be the guarantor for the loan, about
the grant decisions.
(3) the actions and decisions of the elected body of credit unions is always
expelled member of this body, whose interest is decided.
(4) the annual report must always be indicated on the granting of loans
the persons referred to in paragraph 1.
(5) the provisions of the law governing legal relations of business companies
and cooperatives of the prohibition of competition are not affected by this Act and is valid
also for members of the credit Committee. The duties of a member of the elected body
credit unions is incompatible with the performance of the functions of a member elected
authority of the other credit unions and with the work or similar ratio in
other cooperative savings bank. Member of the Board of Directors of credit unions must not
at the same time be a member of the statutory body, the Board of directors or a member of
the supervisory authority of another legal person, who is an entrepreneur. It
does not apply for membership in the Board of the credit unions in
the statutory authority, the management board or supervisory board, financial
institutions, brokerage house, insurance or
credit institution, other than a Credit Union, the Credit Union
control, and also legal entities authorized to organize the demand and
offering of securities, and business support services.
(6) a member of the elected body of credit unions shall, before its
Select the appropriate function to notify in writing the person who chooses it,
their own trustworthiness, competence and experience, about the subject of your
any business activities of their membership in the bodies of other
legal persons, about whether the exercises in other legal entities
the function of authorized or has holdings in them, working or
a similar ratio, including the scope of activities of the legal person. A member of the
elected body also informs in writing the credit unions about the changes that
occurred during the performance of his functions.
(7) the Credit Union shall within 10 working days from the date of the election
Member credit unions to deliver the request to the Czech National Bank
assessment of the conditions for the exercise of functions including documents certifying the fulfilment of the
These terms and conditions. If the Czech National Bank decides that the elected Member
authority of the Credit Union complies with the conditions for the exercise of functions, the
the performance of the functions of the date of receipt of this decision, cooperative savings bank. Czech
National Bank in the matter of the assessment of the conditions for becoming a Member
credit unions will decide within 60 days from the date of receipt of the request; If
to do so, they shall be deemed the conditions for becoming a member of the authority
credit unions have been met. The obligation to apply for the assessment of the conditions for
the performance of the functions of the Credit Union does not, if it is a member of the Committee for
Audit ^ 37).
Section 7a
Management and control system
(1) the Credit Union shall have the management and control system, which
includes
and good governance and assumptions) the management of the credit unions, and it always
1. the principles and procedures
2. organisational arrangements with sound, transparent and comprehensive definition of
responsibilities and decision-making powers, which is at the same time defining
functions whose performance is inconsistent, and procedures for the prevention of the
potential conflicts of interest,
3. the proper administrative procedures and accounting procedures in accordance with the
special legislation,
4. the system of remuneration of persons whose activities in the exercise of their
employment, profession or functions have a significant effect on cooperative
záložnou the risks involved and their peace, including principles for determining and
the conditions of payment of fixed and variable components of remuneration, the procedures for the adoption of
the decision on the remuneration and the method of assessing performance so that the system
rewarding to contribute to the proper and effective risk management and was with him in the
compliance,
(b)) risk management, which always includes the
1. access rules credit unions to the risks which the cooperative
the Credit Union is or may be exposed, including risks arising from
the external environment and liquidity risks,
2. efficient procedures, evaluation, recognition, measurement, monitoring, and
reporting of risks,
3. effective procedures for the adoption of measures to limit the potential
risks,
(c)) the internal control system, part of which is always
1. the internal audit and
2. the ongoing review of compliance with the legal obligations of the credit unions,
(d) trust, professional) ensuring the competence and experience of the members of
the Board of Directors, of the Audit Commission and the credit of the Commission and
e) specialist competence and experience of the Board,
the Audit Commission and the credit of the Commission as a whole, to ensure understanding
the activities of credit unions, including sufficient understanding of the main
risks.
(2) the management and control system must be effective, coherent and reasonable
the nature, scale and complexity of the risks associated with the business and
the activities of credit unions.
(3) the Credit Union and shall regularly assess the effectiveness, coherence
and the adequacy of the management and control system in its whole and parts, and
establish adequate redress without undue delay.
(4) the Credit Union has an obligation to establish and maintain control and
the control system on an individual basis, if it has not been the Czech
the National Bank granted a derogation under article 87(3)(a). 7 regulation of the European
Parliament and of the Council (EU) no 575/2013. If the Credit Union
the responsible cooperative záložnou in a group of financial holding of the person
the responsible cooperative záložnou controlled mixed financial holding
person or the responsible cooperative záložnou in the group controlling
credit institutions shall have the following obligations on a consolidated basis.
(5) the Credit Union, which has an obligation to establish and maintain control and
the control system on a consolidated basis, will ensure that its controlled
a person who is not subject to supervision by the Czech National Bank, has implemented the principles and
management processes, organizational arrangements and other procedures and mechanisms
referred to in paragraph 1. This obligation may grant, Czech National Bank
an exception, if the Credit Union established that the introduction of such a policy,
the procedures, arrangements and mechanisms is not in accordance with the laws of the country
the headquarters of the controlled entity.
(6) the Credit Union, which has an obligation to establish and maintain control and
the control system on a consolidated basis, they shall also ensure that the principles and
management processes, organizational arrangements, processes and mechanisms referred to in
paragraph 1 used members of the consolidated Group have been mutually concurrent
and linked and resulted from them all the information needed for the purposes of
the decision-making processes within the framework of the consolidated Group and for the purposes of the performance of
supervision.
(7) the Czech National Bank shall issue a decree on the control and requirements
control system of credit unions on the individual and consolidated
basis within the limits referred to in paragraph 1, including the scope of the powers
the composition and functioning of the organs and committees of the credit unions, as well as
requirements on their members, if this is not edited directly applicable
the EU regulation governing the prudential requirements, regulation
or by a decision of the European Union.
section 7aa
(1) the Credit Union shall ensure that the
and a member of its Board of Directors), a member of its Audit Committee and a member of its
the credit of the Commission has been the person trusted enough by a competent and
experienced,
(b)) were allocated sufficient human and financial resources for the continuous
the training of members of the Board, the Audit Commission and the credit
the Commission and the
(c)) are carried out by the policy of promoting diversity in the selection of the members of the
the Board of Directors, of the Audit Commission and the credit of the Commission.
(2) member of the Board of Directors, the Audit Committee and a member of the credit Commission
credit unions throughout the performance of its functions
and) duly perform their duties honestly and independently, and devoted to the performance of this
their function, sufficient capacity, time
(b)) can simultaneously act as functions in the bodies of other legal persons only
If it does not affect the sufficiency of time to implementation
obligations in the authority of the credit unions in view of the nature, scope and
the complexity of its activities and taking into account individual circumstances,
(c)) in a cooperative savings bank, which is significant due to its size,
the internal organization, the nature, scale and complexity of their activities, must not
at the same time holding in the bodies of other legal persons more
extent than
1. one function of the Executive's performance with two features of a non-member
Member, or
2. the performance of the four functions of a non-member.
(3) the Czech National Bank may, on the basis of a reasoned proposal for a cooperative
unions allow the Member of the Board, Member of the Audit Committee or
the Member of the Commission in the savings bank's credit cooperative, which is significant because
to their size, internal organisation, the nature, scale and complexity of the
its activities, to hold one additional feature of a non-member in the body
other legal persons, if it does not affect the proper performance of the obligations
authority of the credit unions.
(4) for the purposes of the provisions of paragraph 2 (a). (c)), any function
Member of the legal entity that is not predominantly hire and destinations, and
Furthermore, it is considered one of the performance of the Executive and performance features
non-executive member within the
and the same group controlling), credit unions,
(b)) of the same institutional protection scheme under article 4(1). 113 para. 7
European Parliament and Council Regulation (EU) no 575/2013
c) business corporations in which the Credit Union by a qualified
participation.
(5) a member of the Executive, for the purposes of this Act, a member of the authority,
that in a cooperative savings bank holds the Executive control function.
§ 7ab
(1) a Credit Union that is significant due to its size,
the internal organization, the nature, scale and complexity of their activities, establish a
and risk Committee)
(b)), the Nomination Committee,
(c) the remuneration Committee).
(2) a Committee for risk, the Nomination Committee and the remuneration Committee are
composed of non-executive members of the credit unions.
(3) the Czech National Bank shall issue a decree the assessment criteria
significance of credit unions referred to in paragraph 1.
§ 7ac
The Czech National Bank
and) uses information about the remuneration policy in accordance with art. 450
European Parliament and Council Regulation (EU) no 575/2013 for comparison
trends and remuneration procedures,
b) monitors, if the Credit Union having regard to the nature, scale and
the complexity of their activities does not rely only on external credit assessment
in its assessment of the creditworthiness of the body or of the financial credit instruments, which
for the purposes of this Act, the financial instrument referred to in article. 4 (4). 1
point 50 of regulation of the European Parliament and of the Council (EU) no 575/2013
c) tracks the volume range of risk-weighted exposure amounts or capital
the requirements of the credit unions, with the exception of capital requirements for
operational risk for exposure, or transactions in the comparative
the portfolio resulting from internal approaches for credit unions;
operating risk is for the purposes of this Act, the operational risk
According to the article. 4 (4). 1, point 52 regulation of the European Parliament and of the Council (EU)
No 575/2013
(d) the Commission shall evaluate, at least once a year) quality of internal cooperative approaches
unions,
(e)) will take measures to remedy, if internal access leads to an underestimation of the
the capital requirements, the credit unions, which is not the result of
existing differences in positions or exposures; measures to remedy the
maintains the objectives of internal access,
f) monitors the development in relation to liquidity risk profiles
g) take measures, if the development referred to in subparagraph (f)) can lead to
the instability of credit unions or system instability,
h) uses information about diversity policies in accordance with art.
435 European Parliament and Council Regulation (EU) no 575/2013 for comparison
policies supporting diversity of selection of the members of the Board, the members of the
the Audit Commission and Commission members credit unions.
§ 7ad
(1) the Credit Union shall establish for its staff for internal procedures
reporting violations of this law, the implementing legislation
or directly applicable European Union legislation governing
prudential requirements of a special, independent and autonomous
communication channel.
(2) the Czech National Bank will establish an effective mechanism to report violations of
or threatened violation of this law, it law
underwriting or directly applicable European Union legislation
governing the prudential requirements and informs you about it in a way
allowing remote access; This mechanism includes at least
and the procedures for reporting violations of) or threatened violation of the Czech national
the Bank and their evaluation of the Czech National Bank,
(b)) the protection of the person who reports the breach or threatened breach; If
This is a worker's credit unions, the Czech National Bank and the cooperative
a credit union shall ensure at least protection from discrimination or other kinds of
unfair treatment,
(c) the protection of personal data) of the person who reports the breach or threatened
breach or allegedly liable for breach or threatened
violation of, unless disclosure is required by national law in the
the context of the further investigations or subsequent judicial proceedings.
(3) the Czech National Bank shall issue a decree requirements to procedures
credit unions referred to in paragraph 1, including ensuring the same degree of
protection, as is required under paragraph 2 (a). (b)), and (c)).
(4) the internal reporting Procedures referred to in paragraph 1 may be established on the
pursuant to an agreement with the social partners, through or with the
using channels of communication of these partners, while ensuring the same
level of protection as is required by paragraph 2 (a). (b)), and (c)).
section 7b
Disclosure of information
(1) the Credit Union discloses basic information about yourself, about your
Members, the structure of the consolidated Group, which is part of, and of their
activities and financial situation.
(2) the Credit Union established the obligation on
a consolidated basis in accordance with this law or by directly
of the applicable legislation of the European Union governing the prudential
requirements, will publish annually information about
and property relations between the members) of the consolidated Group, including
information about the close links,
(b)) the management and control system under section 7A(1). 1 (b). a) to (e)),
(c)) the management and control system of the consolidation unit under section 7A(1).
4.
(3) the Credit Union shall fulfil the obligation under paragraph 2 and the publication of
the link to the place where such information is available.
(4) the Czech National Bank may provide less than the yearly periodicity
publication information credit unions according to part eight regulations
The European Parliament and of the Council (EU) no 575/2013.
(5) the Credit Union shall publish each year, for the immediate
previous accounting period with a resolution by Member
States and other than the Member State in which he has an establishment,
and enumeration activities) carries out, and their geographical location,
(b))
(c)) the number of staff FTE full-time equivalent employees
working time,
d) profit or loss before tax
e) corporate income tax or a similar tax paid abroad
or loss,
f) obtained by the public support.
(6) the information referred to in paragraph 5 shall be published in the annex to the annual accounts
or if he shall draw up the consolidated financial statements, in
the annex to the consolidated financial statements.
(7) the Credit Union shall publish in its annual report between key
indicators of return on its assets, expressed as a percentage of net profit
and the overall balance sheet total. Auditor in the course of their audit work
It also validates the information referred to in paragraph 5.
(8) the Auditor verifies data on capital, capital requirements and
ratios the credit unions.
(9) the Credit Union discloses information about how compliance with the requirements
on the management and control system, in a manner allowing remote access.
(10) the Czech National Bank
and the range of data) shall issue a decree intended to publish in accordance with paragraphs
1 to 3, as well as form, the way the structure and limits the disclosure of data and
the periodicity of the publication of the information referred to in paragraph 1,
(b) lay down the periodicity), may decree referred to in paragraph 4, the time limit and method
disclosure of information
(c) Decree) lays down the scope of the information intended for publication by the
paragraph 9, as well as the form, method, structure, periodicity and deadlines
disclosure of data
(d) Decree) lays down the scope of the information verified by an auditor.
Management of credit unions
§ 8
Capital credit unions shall be at least 35 0000 0000 CZK.
§ 8a
(1) the Credit Union shall adopt and apply reliable, effective and complete
strategies and processes for determining, assessing and maintaining
internal capital at a level, structure and layout to
enough to cover the risks to which it is or might be exposed.
(2) the Credit Union shall regularly review policies and procedures referred
to in paragraph 1 so as to ensure that they are operational, effective and
proportionate to the nature, scale and complexity of the activities of credit unions.
(3) the obligations referred to in paragraphs 1 and 2 has on an individual basis
only the Credit Union, which is not
and controlled by the controlling domestic Bank) ^ 12a), domestic financial
holding the person or domestic person, a mixed financial holding
b) responsible záložnou in the group controlling cooperative credit
institution or in the Group of the European people or another financial holding
cooperative záložnou in such a group,
c) responsible cooperative záložnou controlled the European mixed financial
holding a person, or
(d)) included in the consolidation pursuant to article. 19 of the regulation of the European Parliament
and Council Regulation (EU) no 575/2013.
(4) the obligations referred to in paragraphs 1 and 2 is on a consolidated basis
to the extent and in the manner provided for in part II, Chapter 2, first head of sections 2 and 3
European Parliament and Council Regulation (EU) no 575/2013 only cooperative
a Credit Union that is a responsible cooperative financial group záložnou
holding persons responsible cooperative záložnou controlled mixed
financial holding the person or responsible cooperative záložnou in
the group, the controlling shareholder of the credit institution.
section 8aa
The combined capital reserve
(1) the Credit Union continuously maintains the common equity tier 1 by
article. 50 European Parliament and Council Regulation (EC) no 575/2013
the corresponding combined capital reserve, over and above the requirements of the
the capital pursuant to article. 92 of the European Parliament and of the Council (EU) No.
575/2013, capital requirements imposed on her through steps to
redress and other measures under this Act or other legal
regulations and taking into account the internal capital.
(2) the combined capital reserve form
and security capital reserve)
b) countercyclical capital buffer,
(c) capital reserve to cover) of systemic risk.
(3) the Credit Union maintains a capital reserve referred to in paragraph 2
(a). ) to c) on an individual and a consolidated basis in accordance with section
the first head of the second regulation of the European Parliament and of the Council (EU) No.
575/2013.
(4) If the Credit Union does not maintain a combined capital reserve
in the required amount, must not be split pro rata profit after tax, and to
5 working days from the date when the decrease in combined capital
reserves under the required amount, shall submit a request to the Czech National Bank
approval of a plan to restore the capital. The Czech National Bank may
period may be extended up to 10 working days depending on the assessment of the
individual credit unions with regard to the scope and
the complexity of its activities.
(5) the Czech National Bank plan to restore the capital referred to in paragraph 4
approve, if it can be expected that on the basis of this plan, a cooperative
a credit union within the time limit will meet a combined capital reserve.
If the Czech National Bank to renew the capital plan, approves the save
measures to remedy under § 28 para. 2 (a). and point 12) or § 28 para.
2 (a). (e)).
(6) the Czech National Bank shall issue a decree
and the rules for combined) capital reserve referred to in paragraph 1 and
capital reserve referred to in paragraph 2,
(b)), the rules for calculating the proportional part of the profit after tax in accordance with paragraph
4,
(c) recovery plan) the details of capital referred to in paragraph 4.
§ 8ab
The rate of the security capital reserves
The rate of the security capital reserves amounts to 2.5% of the total
risk exposure under art. 92 para. 3 regulation of the European Parliament and of the
Council Regulation (EU) no 575/2013.
Countercyclical capital buffer
§ 8ac
(1) the Czech National Bank benchmark shall be calculated on a quarterly basis
countercyclical capital buffers as a reference value, the
When determining the amount of counter-cyclical capital buffers. This
the indicator is based on the deviation of the ratio of volume of loans and
the gross domestic product from a long-term trend.
(2) the Czech National Bank in the calculation of indicative indicators
countercyclical capital reserve shall, in particular, to
and the credit cycle and growth) of the volume of provided loans in the Czech
Republic,
(b) the ratio changes) volume of loans and the gross domestic product,
(c)) to the specificities of the Czech national economy,
(d) the recommendation issued by the European Council) for systemic risks.
(3) the Czech National Bank on a quarterly basis shall establish the rate of countercyclical
capital reserves for the Czech Republic, taking into account the
indicative indicators) countercyclical capital reserves as calculated
referred to in paragraphs 1 and 2,
(b) the recommendation issued by the European Council) for systemic risks
(c)), which may indicate the indicators of growth of systemic risk.
(4) the rate of counter-cyclical capital reserve referred to in paragraph 3 shall be adopted
at the rate of 0% to 2.5% of the total risk exposure under art. 92
paragraph. 3 European Parliament and Council Regulation (EU) no 575/2013
multiples of 0.25 of a percentage point. In cases where it will be based on the
the facts referred to in paragraph 3, the Czech National Bank
lay down this rate higher than 2.5%.
(5) the Czech National Bank provides for measures of a general nature
and counter-cyclical capital reserve) rate for the Czech Republic in accordance with
paragraph 3,
(b)) the date from which the credit unions are required to use rate according to
(a) for the purposes of the calculation of the combined) capital reserves.
(6) when the first determination of the rate referred to in paragraph 5 (b). and), or when
increasing this rate may be the day referred to in paragraph 5 (b). (b))
first 1 year after the date of issue of the measures of a general nature; in exceptional
cases, this period may be shorter. This does not apply if the rate according to the
paragraph 5 (b). and) reduced.
(7) the Czech National Bank in measures of a general nature shall be
and the information referred to in paragraph 5),
(b)) the ratio of the volume of loans to gross domestic product of the Czech
Republic and the deviation from the long-term trend of this ratio,
c) counter-cyclical capital reserve reference rate referred to in paragraphs 1 and
2,
(d) the amount of the rates) the justification referred to in paragraph 5 (b). and), including the
all the factors that the Czech National Bank has taken into account in determining
This rate,
(e)) the reasons for shortening the deadline if it is shorter, the period referred to in paragraph 6
than 1 year,
f) tentative specified period, after which the Czech National Bank expects
the rate referred to in paragraph 5 (b). and will not be increased, including the preamble) the length of the
This period, if the rate of countercyclical capital buffers
reduced.
(8) the Czech National Bank shall coordinate the measures of a general nature, the term release
with the competent authorities, or by the designated authorities of other States.
§ 8ad
(1) the Credit Union shall apply the rate of countercyclical capital buffers
to another Member State in the amount fixed by the competent authority or
the designated authority of the Member State of ^ 40), when this rate was
set to a maximum of 2.5% of the total risk exposure under art.
92 para. 3 European Parliament and Council Regulation (EU) no 575/2013.
(2) if the competent authority or a designated authority of another Member State
set the rate of counter-cyclical capital reserves higher than 2.5% of the
the total risk exposure under art. 92 para. 3 of regulation
The European Parliament and of the Council (EU) no 575/2013, the Czech National Bank
rate recognizes or establishes the rate of 2.5%. The Credit Union in the
this case uses the rate set by the Czech National Bank.
(3) the Czech National Bank provides for measures of a general nature
and counter-cyclical capital reserve) rate for another Member State pursuant to
paragraph 2,
(b) the name of the State) that is subject to rate under (a)),
(c)) the date from which the credit unions are required to use rate according to
(a) for the purposes of the calculation of the combined) capital reserves.
(4) when the first determination of the rate referred to in paragraph 3 (b). and), or when
increasing this rate may be the day referred to in paragraph 3 (b). (c))
first 1 year after the date of issue of the measures of a general nature; in exceptional
cases, this period may be shorter. This does not apply if the rate according to the
paragraph 3 (b). and) reduced.
(5) if the period referred to in paragraph 4 is less than 1 year, Czech National Bank
in measures of a general nature, stating the reasons for the shortening of the time limits.
§ 8ae
(1) the Credit Union shall apply the rate of countercyclical capital buffers
for other than the Member State of which the competent authority has established
in this State, if this rate was fixed to a maximum of 2.5% of the total
the volume of risk exposure under art. 92 para. 3 regulation of the European
Parliament and of the Council (EU) no 575/2013.
(2) if the competent authority of a Member State other than the established rate
countercyclical capital reserve less than 2.5% of the total
risk exposure under art. 92 para. 3 regulation of the European Parliament and of the
Council Regulation (EU) no 575/2013, the Czech National Bank rate could increase up to
2.5%, if it considers it necessary in terms of the risks associated with the volume
provided loans in that State. In this case, the Credit Union
It's the rate set by the Czech National Bank.
(3) if the competent authority of a Member State other than the established rate
countercyclical capital reserves higher than 2.5% of the total
risk exposure under art. 92 para. 3 regulation of the European Parliament and of the
Council Regulation (EU) no 575/2013, the Czech National Bank recognised or accepted this rate
rate of 2.5%. The Credit Union in this case, it's the rate of
set by the Czech National Bank.
(4) if the competent authority of a Member State other than the rate
countercyclical capital buffers has not set a may, Czech National Bank
This rate be determined within above 2.5% of the total risk exposure
According to the article. 92 para. 3 European Parliament and Council Regulation (EU) No.
575/2013. In this case, the Credit Union it's toll
The Czech National Bank.
(5) the Czech National Bank when determining the rates of counter-cyclical capital
reserves under paragraphs 2 to 4 shall take into account the recommendations issued by the European
systemic risk Council.
(6) the Czech National Bank provides for measures of a general nature
and counter-cyclical capital reserve) rate for other than the Member State
in accordance with paragraphs 2 to 4,
(b) the name of the State) that is subject to rate under (a)),
(c)) the date from which the credit unions are required to use rate according to
(a) for the purposes of the calculation of the combined) capital reserves.
(7) when the first determination of the rate referred to in paragraph 6 (b). and), or when
increasing this rate may be the day referred to in paragraph 6 (b). (c))
first 1 year after the date of issue of the measures of a general nature; in exceptional
cases, this period may be shorter. This does not apply if the rate according to the
paragraph 6 (a). and) reduced.
(8) the Czech National Bank in measures of a general nature justifying the rate
in accordance with paragraph 6 (a). and), and if the period referred to in paragraph 7 is less than 1
year, the Czech National Bank, stating the reasons for the shortening of the time limits.
Capital reserve to cover systemic risk
§ 8af
(1) the Czech National Bank may provide to credit unions, the Group
generically designated credit unions or individual cooperative
Credit Union continuously maintain a capital reserve to cover system
the risk on an individual and a consolidated basis according to the part of the first
the head of the second regulation of the European Parliament and of the Council (EU) no 575/2013
above the capital requirements according to art. 92 this regulation,
the capital requirements imposed on cooperative savings bank through
remedial measures and other measures under this Act or any other
legislation and taking into account the internal capital.
(2) the Czech National Bank sets rate for capital reserves to cover
systemic risk for the exhibition located in the Czech Republic in the amount of
at least 1% of the total risk exposure under art. 92 para. 3
European Parliament and Council Regulation (EU) no 575/2013 in increments of 0.5
of a percentage point, while this rate may also be laid down for exposures
situated in another Member State or a non-Member State. Czech
the National Bank takes into account when determining the rates to above rates
She did not have a negative impact on the financial market as a whole or in part in the
other Member States of the European Union or of the European Union and has not been
an obstacle to the functioning of the single market. The Czech National Bank
reviewing the reasons for the determination of capital reserves to cover
systemic risk at least once every 2 years.
(3) the Czech National Bank sets a decision or measure of General
the nature of the
and to the capital reserve) rate systemic risk under paragraphs
1 and 2,
b) data necessary to identify the credit unions that is required to
maintain a capital reserve to cover systemic risk,
(c)) the date from which the credit union concerned is required to rate according to
(a)),
(d)) names of States, covered by rate referred to in subparagraph (a)).
§ 8ag
(1) the Czech National Bank shall notify the intention to determine the rate of capital reserve
to cover systemic risk to the European Commission, the European authority for the
banking, the European systemic risk Board and the competent authorities
or the designated authorities of the States concerned.
(2) the notification referred to in paragraph 1 shall include the
and to the capital reserve) rate systemic risk,
(b) a description of the system or a macro-prudential) risks
(c) a justification of the above rates) under (a)) in view of the extent of the system
or a macro-prudential risks and threats to the stability of the financial
the system in the Czech Republic,
(d) the justification for the above rates) according to point (a)) in terms of its effectiveness and
the adequacy of the system of macro-prudential risks or mitigate,
(e) the efficiency and adequacy of) the justification for the amount of the rates referred to in point (a))
in relation to other existing measures applicable under this
the Act and the regulation of the European Parliament and of the Council (EU) no 575/2013
exception of articles 458 and 459 of this regulation,
(f) the likely) the assessment of the positive and negative impacts of the establishment of
capital reserves to cover systemic risk in the European single market
the Union on the basis of the information available to the Czech National Bank.
(3) If the Czech National Bank intends to determine the rate of capital reserve
to cover systemic risk up to 5% of the total volume of risk
exposure referred to in article 12(2). 92 para. 3 regulation of the European Parliament and of the Council
Regulation (EU) no 575/2013, shall notify the intention referred to in paragraph 1 not later than 1 month
prior to the date of the decision or action of a general nature according to § 8af
paragraph. 3. If the Czech National Bank intends to determine the rate of capital
reserve to cover systemic risk more than 5% of the total
risk exposure under art. 92 para. 3 regulation of the European Parliament and of the
Council Regulation (EU) no 575/2013, shall notify the intention referred to in paragraph 1, and
decisions or measures of a general nature according to § 8af para. 3 shall only be granted in the
following the European regulations or decisions of the Commission.
(4) If the Czech National Bank intends to determine the rate of capital reserve
to cover systemic risk up to 5% of the total volume of risk
exposure referred to in article 12(2). 92 para. 3 regulation of the European Parliament and of the Council
Regulation (EU) no 575/2013 for the exhibition located in other Member States, must
be the rate of the capital reserves to cover systemic risk is the same for
all the Member States.
(5) the Czech National Bank may ask the European Council for system
the risk, in order for the competent authorities or the authorities designated by other Member
States issued a recommendation to recognise the rate of capital reserves to cover
systemic risk set by the Czech National Bank for the Czech
Republic.
(6) If the Czech National Bank intends to determine the rate of capital reserve
to cover systemic risk more than 3% and less than or equal to 5% of
the total risk exposure under art. 92 para. 3 of regulation
The European Parliament and of the Council (EU) no 575/2013, before issuing the
decisions or measures of a general nature according to § 8af para. 3 the opinion of the
Of the European Commission. If the Czech National Bank opinion of the European Commission
does not pass, it shall communicate the reasons for doing so.
(7) If the Czech National Bank intends to determine the rate of capital reserve
to cover systemic risk more than 3% and less than or equal to 5% of
the total risk exposure under art. 92 para. 3 of regulation
The European Parliament and of the Council (EU) no 575/2013 for the Credit Union,
the controlling entity has its registered office in another Member State, and the Czech national
the Bank and the relevant authorities or the authorities designated by the Member State concerned
disagree, or in the case where the opinions of the European Commission and the European
systemic risks are negative, the Czech National Bank may
refer the matter to the decision to the European banking authority in accordance with
directly applicable European Union legislation relating to the supervision of the
financial market in banking ^ 38). The Czech National Bank
decisions or measures of a general nature according to § 8af para. 3 does not
until in the matter unless the European banking authority.
§ 8ah
(1) if the competent authority or a designated authority of another Member State
set for that Member State rate of capital reserves to cover
systemic risk, the Czech National Bank rate for the purposes of calculating
capital reserves to cover systemic risk and decision or
measures of a general nature according to § 8af para. 3 this rate. Czech
the National Bank before setting the rate takes into account the information referred to in
notification to the competent authority of the Member State concerned.
(2) the Czech National Bank shall notify the recognition rates referred to in paragraph 1 of the European
the Commission, the European banking authority, the European Council for system
the risks and the competent or designated authority of the Member State.
§ 8ai
(1) when issuing the measures of a general nature according to § § 8af 8ac to 172 and section
paragraph 173. 1 of the administrative code shall not apply. Measures of a general nature shall notify the
The Czech National Bank in a manner allowing remote access. Measures
of a general nature shall enter into force on the date of its publication. If the disclosure of
justification the measures of a general nature issued pursuant to § 8af para. 3 threaten
the stability of the financial system of the States concerned, the Czech National Bank
the preamble will not disclose.
(2) Against the measures of a general character issued by the Credit Union may submit an
a written reasoned objections within a period of 10 working days from the date of its
the notification. Lodged objection shall discharge the Czech National Bank. Filed by
the objections of the Czech National Bank may be used as a basis for amending or
measures of a general character issued by the cancellation.
(3) the Czech National Bank, the final decision shall be published in accordance with § 8af
paragraph. 3 way allowing remote access. If the disclosure of
reasons for the decision would jeopardize the stability of the financial system affected
States, the Czech National Bank will not disclose the reasoning.
§ 8aj
paid
§ 8ak
paid
the title of the paid
§ 8al
paid
§ 8 am
paid
§ 8an
paid
the title of the paid
§ 8ao
paid
§ 8ap
paid
§ 8aq
paid
§ 8ar
paid
§ 8as
paid
§ 8at
paid
§ 8au
paid
§ 8b
(1) the Credit Union shall ensure that the auditor has conducted
and verification of annual accounts), credit unions,
b) once every 3 years, verification of the management and control system
credit unions, with the Credit Union for the auditor shall ensure
an overview of internal control carried out, that is, the concern,
(c) the reporting of verification) of the financial statements and the management and control
System; the Credit Union shall submit such reports within the time limits
The Czech National Bank,
(d) the verification of the data published by) § 7b and the extent
by a decree issued by the Czech National Bank.
The Czech National Bank shall issue a decree about the contents of the message control and validation
control system of credit unions in accordance with subparagraphs (b) and (c))),
structure and periodicity of its processing and deadlines for submitting it.
(2) the Czech National Bank may request verification of the system according to the
paragraph 1 (b). b) waive or limit it to some of his
component. In the case that the Czech National Bank authentication request
the system referred to in paragraph 1 (b). (b)) for the calendar year
chances, is entitled to require the Credit Union to ensure
validation of the system or its part referred to in paragraph 1. (b)) in any
the following calendar year. The Czech National Bank shall communicate to the cooperative
the savings bank to 30. April of the calendar year the intention to waive or
restrict the authentication request referred to in paragraph 1 (b). (b)).
a Credit Union can to the Czech National Bank's intention to disclose within 20 working days
Since the delivery of reasoned comments. The Czech National Bank comments
received within the specified period with the cooperative záložnou, discuss, and up to 30. June
the calendar year cooperative savings bank shall communicate whether validation
the system referred to in paragraph 1 (b). b) remitted or the manner in which this
verification of limits.
(3) the selected auditor is required to notify the Credit Union of the Czech
the National Bank within 30 days from the date of receipt of this notification
the auditor shall be entitled to reject it. To verify the accounts of the credit unions
can only one auditor who does not have a special relationship to the cooperative savings bank
and which demonstrate that in the course of a minimum of 2 years to authenticate
the financial statements of banks, credit unions or other financial
institutions, and which was in connection with the provision of auditing
permission to provide services suspended. To reject the Czech
National Bank Auditor in due time, the auditor was
approved. In case of refusal of the auditor the Czech National Bank is
the Credit Union is obliged to inform within 15 days from the date of rejection of the United
the National Bank a new auditor.
(4) For those persons who have a special relationship to the cooperative savings bank, for
the purpose of this law shall be considered members of the credit unions, members of the
elected bodies of the credit unions and persons close to them under the civil
code.
§ 9
(1) the profit can be divided between the members of the credit unions. The share of the Member to the
profit is determined by the ratio of the amount of capital to the sum of all
all members of Member deposits at the balance sheet date of the ordinary financial statements. On
determine the profits to be distributed among the members, taking into account the part of the
net profit attributable to the shares of the settlement Act membership meeting when
discuss the proper accounts. The provisions of the law governing the legal
ratios of commercial companies and cooperatives on the distribution and use of profit
a cooperative shall not apply.
(2) Alternatively, a Credit Union, a loss is a membership meeting shall
decide on the approval of the financial statements for the period of payment of the
This loss of venture fund, the Reserve Fund and undistributed profit
the past years, the credit unions.
(3) the allocation of profit or loss of the credit unions under cover
the previous paragraphs makes the Board within 30 days of the date of the
the meeting, which approved the annual financial statements, from which the gain or
the loss is apparent.
§ 9a
(1) the Czech National Bank may issue the measures of a general nature on the basis of a
within the limits of the applicable European Union legislation directly governing the
prudential requirements where this directly applicable provision
allows the competent authority to grant an exemption or edit the use
the rules governing cooperatives, savings associations or group of species in the designated
credit unions.
(2) a draft of the measures of a general nature shall be published only on the official Board
The Czech National Bank. Held a public hearing to the proposal of measures
the general nature of the Czech National Bank, will announce the time and place of the holding of the
the notice board of the Czech National Bank.
(3) the measures of a general nature shall enter into force on the date of its publication in the official
the Czech National Bank Board.
(4) measures of a general nature Against issued may submit written
reasoned objections only credit unions, within 10
working days from the date of its publication. Lodged objections shall discharge the United
the National Bank of the notice. Submitted objections may take advantage of the Czech National Bank
as a basis for the amendment or cancellation of the issued measures of a general nature.
§ 10
Funds of credit unions
(1) the Credit Union shall set up these funds:
and risk Fund) at the beginning to cover risks of lending and
warranties of at least 20% of the annual profit after taxation, up to the time
where the level of risk of the Fund reaches an amount of at least 30% of the subtotal
outstanding loans and guarantees provided by the cooperative záložnou,
b) Reserve Fund. If the reserve fund created at inception
credit unions are created from profit after tax reported in the proper
financial statements for the accounting period in which the profit for the first time creates, and
in the amount of at least 10% of the profit after tax. This Fund shall annually
added by the amount specified in the statutes, but at least 10% of the profit after
taxation, up to the time when the amount of the reserve fund reaches at least 20
% of share capital.
(2) the statutes may specify that creates a higher risk fund and reserve
Fund and establish, where appropriate, the additional funds.
§ 11
(1) the Credit Union is required to comply with the rules of safe
the operation, which can be edited in particular
and) limits and conditions for certain types of loans or investments, deposits,
warranties and liabilities
(b)) the rules for acquisition, financing and assessment of assets.
(2) the rules and indicators referred to in paragraph 1 provides for the Czech National Bank
by Decree.
§ 12
The Credit Union is required to establish an effective procedure for the handling of
complaints and clients about how to clearly and in writing, in the official
the language or languages of the State in whose territory they are operating, in
its operational areas.
section 13 of the
Some of the provisions of the cancellation and liquidation of credit unions
(1) the Court may, on a proposal from the Czech National Bank, the authority or a member of the
the credit unions or the person demonstrating a legitimate interest, decide on the
the cancellation of the credit unions and its liquidation, if
and the number of members has fallen below) 30,
b) capital fell below 35 0000 0000 Eur,
(c)) have passed six months from the date on which the term of the authority
credit unions and was elected to the new body, or have been violated
obligation to convene a membership meeting, or the Credit Union for
more than one year does not operate any business,
(d)), the merger or the Division of credit unions has been tampered with
the law.
(2) the Court may, on a proposal from the Czech National Bank to decide on the cancellation
credit unions and its disposal even if the measures
the Czech National Bank imposed under section 28 was ineffective.
(3) the Credit Union shall also be repealed on the date of acquisition of legal power withdrawal
the authorization.
(4) a merger of credit unions is only possible with another cooperative záložnou.
The Credit Union can be allocated only to credit unions. To
Division or merger is necessary to the prior consent of the Czech National Bank;
in doing so, it shall proceed mutatis mutandis under section 2a.
(5) the change in the legal form of credit unions is not permitted. This does not apply in
If changes to the legal form of a public limited company, if the Czech national
the Bank has granted consent to such conversion and at the same time decided to grant
banking license. Change in legal form project credit unions may not
contain the number, kind, the form and nominal value of shares intended for
each shareholder after the entry of the change of legal form to the commercial register,
If you include a way to their destination.
(6) a liquidator appointed and recalled by the credit unions on a proposal from the United
the National Bank Court. The liquidator can be only a natural person or legal
person fulfilling the conditions of trust and competence pursuant to §
2A paragraph 2. 5 and who is not, or should not have a special relationship to the cooperative
the savings bank. In the case of the withdrawal of authorisation pursuant to § 28 g and 28 h cannot be
the liquidator appointed by a person who, in the last 5 years was carried out
audit or otherwise involved in the processing and accounting
the credit unions.
(7) the Court shall decide on the design of the Czech National Bank on the appointment and on the
the appeal of the liquidator within 24 hours from the submission of the proposal. The resolution will be posted
on the day it was released, on the court notice board. The effects of the appointment of
the liquidator and the appeal of the liquidator will occur by posting a resolution to
the official Board of the Court that issued the resolution. This moment is this
effective against any resolution. The resolution shall be delivered to the Czech National Bank,
designated or odvolanému the liquidator and cooperative savings bank. Against the
the resolution may appeal only to the participant under the preceding sentence.
(8) the amount of the remuneration of the liquidator and its maturity down the Czech national
the Bank, taking into account the scope of activities of the liquidator. The determination of the amount of the
the remuneration of the liquidator and the due date is not in the administrative decision
control. In determining the remuneration of the liquidator, government regulation governing the
determination of the remuneration of the liquidator shall not apply. Reimbursement of cash expenses
the liquidator and his reward are paid from the assets of the credit unions. In
If the assets of the Credit Union is not sufficient for the payment of compensation
cash expenses and remuneration of the liquidator, the liquidator shall pay the amount of the
attributable to the remuneration of the liquidator and his cash outlays, the Czech national
the Bank, which create a claim for credit in the amount of záložnou
paid amounts.
(9) the liquidator shall submit to the Czech National Bank without undue delay
the financial statements and the documents processed in the course of the liquidation in accordance with the
the law governing the legal relations of the trading companies and cooperatives, and
on the basis of calls according to § 27 para. 2 additional required data, documents and
information.
§ 13a
(1) credit unions participating in the payment systems
operated in accordance with a special law or payment systems,
operated by the Czech National Bank, on the territory of the Czech Republic
transferred with the other participants of the payment systems cash
resources in the Czech currency under individual items created on the
the basis of custom commands or orders of their clients.
(2) If a credit union Is a participant in the payment system
operated by the Czech National Bank, leads her to the Czech National Bank
contract account inter-bank payment in Czech currency. Account
inter-bank payment cannot be subject to enforcement
or interim measures.
§ 13b
(1) where a Credit Union, Bank or branch of a foreign bank on the
the territory of the United States nezúčtovaly the amount of the payment transaction in the United
currency or from taking over the Bank in accordance with the client and
caused by incorrect execution of a payment transaction, the cooperative
the Credit Union, which leads to unauthorized recipients required to account on the initiative
credit unions, banks or branches of foreign banks, which
incorrect execution of a payment transaction, to write off from this account
incorrectly posted amount and issue it to the cooperative savings bank, Bank or
the Branch Office of a foreign bank, that incorrect execution of a payment transaction
made to correct an incorrectly executed payment transaction in accordance
the law governing payment transactions, and Credit Union
may indicate an unauthorized recipient account to the State in which it would have been
If the incorrect execution of the payment transaction not taken place (hereinafter referred to as
"the corrective settlement").
(2) a complaint under paragraph 1 shall not be put within 3 months from the date of the error in
as a result there was an improper execution of a payment transaction.
(3) the Provisions of settlement shall be payable by the tax administrator accounts is excluded;
the Credit Union that incorrect execution of a payment transaction
caused, requests the reimbursement of the amount of the relevant tax authorities.
Deposit insurance members
§ 14
(1) credit unions are required to participate in the insurance scheme
Receivables from deposits under section 14 of the Act on banks ^ 17).
Provisions of the Act on banks, which govern the rights and obligations of the bank
arising from participation in the system of credit insurance on deposits, as well as
the provisions governing the obligations of the liquidators, administrators, insolvency
Administrators and the deposit insurance fund in the implementation of this system is
apply to credit unions, insurance adjusters and insolvency administrator
Similarly, including provisions on liability for their violation of and
the application of appropriate sanctions; the percentage contribution of the cooperative
the thrift is twice the percentage of the contribution of the Bank. The person that
witness insured claim on the deposit held by credit unions, is
by an authorized person within the meaning of section of the thirteenth of the Act on banks.
(2) persons, within the meaning of the law governing the activity of the banks do not have
entitled to provide compensation for the claim of the deposits of the insurance fund
deposits due to their special relationship to the Bank ^ 17a), are
and) members of the elected body of the credit unions,
(b)) the controlling person Cooperative Union, persons with qualifying holdings
on these persons and the members of the management of such persons,
(c)) people close within the meaning of the civil code the members of elected bodies
credit unions and cooperative savings bank office, persons controlling the
(d)) of the person with a qualified interest in the cooperative savings bank and persons
controlled,
(e)) by the members of the Czech National Bank,
f) persons controlled by cooperative záložnou.
§ 15
cancelled
section 16 of the
cancelled
§ 17
cancelled
§ 17a
cancelled
section 18
cancelled
§ 19
cancelled
section 20
cancelled
Supervision of credit unions
section 21
(1) the Czech National Bank shall exercise supervision over the activities of cooperative
unions and compliance with the obligations laid down for them by this Act, or
special legislation regulating the procedure for the exercise of activities
that are credit unions authorised to carry out under this Act.
(2) the Czech National Bank may ask for a check on the spot for her
supervised persons on the territory of the host Member States. If the Czech national
the Bank asked for supervised, is entitled to participate,
If this check is not done alone.
(3) the Czech National Bank carries out consultation and information duty to
supervisory authorities of the host State and the institutions of the European Union. Czech
the National Bank and the authorities of the host Member States shall exchange information on
the activities of credit unions, which can facilitate supervision or
examination of the conditions for the issue of permits.
(4) the Czech National Bank shall immediately inform a decision on
bankruptcy and bankruptcy on the Credit Union's assets
supervisory authority of the Member State of the European Union, in which the cooperative
Credit Union branch ^ 5a). The Czech National Bank seeks to coordinate their
activities with the supervisory authorities of all the Member States of the European Union, in which
has the credit union branch.
(5) the Czech National Bank, in the exercise of its jurisdiction under this
law and directly applicable European Union legislation governing
prudential requirements involved in the activities of the colleges of supervisors in
the framework of the European system of financial supervisors ^ 41).
(6) the Czech National Bank, in the exercise of its jurisdiction under this
law and directly applicable European Union legislation governing
prudential requirements involved in the activities of the European
banking.
(7) the Czech National Bank in the exercise of its jurisdiction under this Act, and
According to the applicable European Union legislation directly governing the
prudential requirements shall take into account the convergence of tools and procedures
banking supervision in the Member States; It is based on the
guidelines, recommendations, standards, and other measures adopted by the European
banking authority, unless the reasons for which do not.
(8) the Czech National Bank may require regular provision of information
necessary for the performance of its responsibilities and for statistical purposes from
and credit unions),
(b)) the financial holding of the person
(c)) mixed financial holding of the person
(d)) mixed-activity holding persons
e) persons belonging to the persons referred to in points (a) to (d))),
(f)) of the person who was the persons referred to in points (a) to (d))) responsible for
the performance of the activities.
(9) the Czech National Bank may carry out checks on the persons referred to in
paragraph 5, if this is necessary for the exercise of its competence; for this
the purpose of the may
and require the submission of documents)
(b)) to examine the books and records and to make copies of and extracts from them,
c) obtain written or oral explanations from the persons referred to in paragraph
8, their representatives and workers,
(d)) to obtain oral explanations from persons other than is set out in paragraph 8
provided that the consent to do so.
(10) the Czech National Bank may carry out checks on the spot for people
referred to in paragraph 8 (b). b) to (f)) and all persons who are subject to the
supervision on a consolidated basis, if concerned shall inform in advance
the oversight body.
§ 21a
Review process and evaluation
(1) in the performance of the Czech National Bank supervision at the same time, shall review and
evaluates whether the arrangements, strategies, processes and mechanisms implemented by the
cooperative záložnou in order to meet the requirements laid down in this
by law, directly applicable EU regulation governing the
prudential requirements, regulations or decisions of the European Commission,
the capital and liquidity of credit unions provide safe and reliable
the operation of credit unions and the proper management and risk coverage. Czech national
the Bank always evaluates the risks to which the Credit Union is or may
be exposed to the risks that may entail for the Credit Union
financial market with a view to identifying and measuring systemic risk by
article. 23 of the European Parliament and Council Regulation (EU) no 1093/2010 or
recommendation of the European systemic risk Board and the risk exposed
stress tests.
(2) the review and evaluation performed by the Czech National Bank in
the frequency and intensity of reasonable size, significance and status
credit unions in the financial market and the nature, scale and complexity of the
its activities at least once a year, and in the scope of cooperative
the savings bank specified requirements under part one of the second head of regulation
The European Parliament and of the Council (EU) no 575/2013, regulation or decision
Of the European Commission.
(3) the Czech National Bank examines and evaluates the credit, market and
operational risk; the review and evaluation shall be aimed for at least
on
and the results of stress tests carried out by) a cooperative referred to in article záložnou.
177 European Parliament and Council Regulation (EU) no 575/2013 when you use
internal ratings-based approach,
(b) the exposure to risk concentration) and its management of the cooperative záložnou
including compliance with the requirements referred to in part four of the regulation of the European
Parliament and of the Council (EU) no 575/2013, the European regulations or decisions
the Commission, the
(c)) the suitability, efficiency and resilience of the policies and procedures for the management of residual
the risks associated with the use of the eligible techniques reduce the credit
the risk, which means the credit risk mitigation in accordance with article 3(1). 4 (4). 1
point 57 of the European Parliament and of the Council (EU) no 575/2013
the accuracy of their implementation,
(d)) the rate at which capital maintained by cooperative záložnou against assets,
that sekuritizovala corresponds to the economic substance of the transaction,
including the existing degree of risk transfer,
e) exposure to credit unions against liquidity risk, measuring and control
liquidity risk analysis including the development of alternative scenarios,
management of the risk factors and the effectiveness of the contingency plans,
f) impacts of risk-spreading, and how these impacts are incorporated
in the risk-measurement system,
(g) the results of the stress tests carried out) cooperative záložnou in
the use of an internal model for the calculation of the capital requirement for market
the risk referred to in part III, title of the fourth chapter of the fifth regulation of the European
Parliament and of the Council (EU) no 575/2013
h) geographic location of exposures credit unions,
I) model business credit unions,
j) assessment of systemic risk.
(4) the Czech National Bank also examines and evaluates the
and liquidity risk management) of the total credit unions; in doing so, it promotes
the development of sound internal methodologies and take into account the position of the cooperative
unions in the financial markets and taking due account of the decisions taken in
following the review and evaluation of the potential impact on the stability of the
the financial system in all other Member States concerned,
(b)) the exposure of the credit unions to interest rate risk investment
portfolio, for the purposes of this Act, the portfolio to
which includes tools that are not included in the commercial
the portfolio; If, as a result of sudden and unexpected changes in interest
rates by more than 2 percentage points, or about the value laid down in the General
the guidelines, the European banking authority decreased economic value
credit unions by more than 20% of the capital, saves, Czech National Bank
appropriate corrective measures,
c) exposure of the credit unions against the risk of excessive leverage, which is for
the purposes of this Act, the lever according to the article. 4 point 93 of the European
Parliament and of the Council (EU) no 575/2013, and which is identified by the
the basis of the indicators of excessive leverage, including the leverage ratio specified by the
article. 429 European Parliament and Council Regulation (EU) no 575/2013
regulations or decisions of the European Commission; When evaluating the
the adequacy of the leverage ratio and in the evaluation of the arrangements, strategies,
procedures and mechanisms established cooperative risk management záložnou
excessive leverage, which for the purposes of this Act, the risk of excessive
the lever according to the article. 4 (4). 1, point 94 of the European Parliament and of the Council
Regulation (EU) no 575/2013, the Czech National Bank will take into account the business model
credit unions,
(d) the management and control system) Credit Union, corporate culture and
eligibility of members of the Board of Directors and the Audit Commission carry out its
obligations; the review and evaluation of the Czech National Bank
require the cooperative savings bank the agenda of the Board and
the Audit Commission and their committees including related underlying
documents and the results of internal and external evaluation of the
the Board of Directors and the Audit Commission.
(5) the Czech National Bank also examines and evaluates
and whether the Credit Union provided a) implicit support to a securitisation, which
means a securitisation according to art. 4 point 61 of regulation of the European
Parliament and of the Council (EU) no 575/2013; If it finds that the Credit Union
provided implicit support to a securitisation in more than one case,
shall take the appropriate measures to reflect the risk that the Credit Union in the
the future will provide support for their securitisation
(b)) that the valuation adjustments or positions in the trading book referred to in portfolios
article. 105 European Parliament and Council Regulation (EU) no 575/2013
regulations or decisions of the European Commission will allow the cooperative savings bank
sell or in the short term to ensure their positions without under normal
market conditions led to a significant loss; for the purposes of trading books
This Act, the trading book referred to in article. 4 point 86 of the regulation
The European Parliament and of the Council (EU) no 575/2013.
§ 21b
(1) if the Czech National Bank in the performance review and evaluation
under section 21a, the more credit unions is or may be
exposed to similar risks, or represents a similar risk for financial
the market is entitled to carry out the review and evaluation of the species-groups
intended credit unions the same or similar manner. Group
generically designated credit unions with a similar risk profile can be
specify, in particular, on the basis of an assessment of systemic risk under section 21a
paragraph. 3 (b). (j)).
(2) to support the process of the review and evaluation referred to in § 21a performs
The Czech National Bank stress tests at least once a year, the cooperative
unions. The result of the stress tests may publish the Czech National Bank.
(3) the Czech National Bank regularly at least once every 3 years to review the
compliance with the conditions under which a cooperative savings bank enabled
the use of internal approaches. It focuses mainly on the quality and
timeliness of the used methods and procedures for changes in the activity of the cooperative
unions and the use of internal approaches for new products.
§ 21 c
(1) the Czech National Bank is progressing according to plan, the supervisory examination
that is built at least once a year, taking into account the results of the
the process of the review and evaluation referred to in § 21a.
(2) the Czech National Bank shall draw up a plan for monitoring the investigation referred to in paragraph
1, so that does not obstruct the supervisory authority of another Member State in the execution of
the-spot checks in the branch of the credit unions, which carries on its
activity in the territory of that other Member State.
(3) a plan of the Czech National Bank supervisory examination includes
and) list of credit unions to be subject to increased
surveillance in the wake of the measures referred to in paragraph 4,
(b)) plan spot checks in the business offices of the credit unions,
including its affiliates and subsidiaries established in other Member
States,
(c) information on the way) performance of the tasks and the allocation of
resources on the
(d)) the list of cooperative banks, for which the load test results according to the
§ 21a and 21b para. § 2 or the result of the review process and evaluation
pursuant to section 21a suggest important risks for the financial health or breach of
requirements laid down in this Act, legislation that it
done, decisions made under this Act, the General measures
nature issued pursuant to this Act, a directly applicable regulation
The European Union governing the prudential requirements, regulation or
decision of the European Commission,
e) list of credit unions, which represent a systemic risk for the
financial market,
(f)) list of other credit unions, for which the Czech national
the Bank considers it necessary.
(4) the Czech National Bank will take in the follow-up to the outcome of the review and
evaluation under section 21a, if it is necessary, in particular, the following measures:
and) increase the number of checks at the premises of the credit unions,
(b) to ensure the continued presence of the representative), Czech National Bank
cooperative savings bank,
(c) require the submission of additional or) more frequent information cooperative
záložnou,
(d)) to perform additional or more frequent review of operational, strategic
or business plans, credit unions,
(e)) to carry out checks on the monitoring of selected risks to which would
the Credit Union may be exposed.
§ 21d
(1) the Credit Union is required to develop and regularly update
restoration plan for the event of a serious deterioration in its financial situation. If
The Czech National Bank, taking into account the size of the credit unions,
its business model or connectedness with other institutions or with
the financial market as a whole provides that the deterioration of the financial situation
credit unions will have no negative impact on the financial market, other
institutions or financing conditions, the Credit Union shall draw up,
the approval of the Czech National Bank financial recovery plan within a reasonable range.
(2) the Czech National Bank is required to develop and regularly update
solving plan of credit unions, which provides options for solution
crisis credit unions. If the Czech National Bank with
taking into account the size of the credit unions, its business model
or coherence with other institutions or with the financial market as a
a total of provides that any bankruptcy credit unions will not have
adverse impact on the financial market, institutions, or other conditions
financing, shall draw up a plan for solving the credit unions in
a reasonable range.
(3) the Credit Union is required to provide the Czech National Bank for
the purpose of the preparation of the plan solving the credit unions referred to in paragraph
2 all the necessary information within the range of reasonable size,
its business model or connectedness with other institutions or with
the financial market as a whole.
(4) the Czech National Bank cooperates with the European authority for the
banking ^ 42) in the preparation of plans for cooperative problem solving
unions. Inform the European banking authority of the preparation
health plans and plans for solving credit unions, in particular,
It shall inform in advance the time and place of the hearing and the
the main points discussed. The Czech National Bank will allow participation
the representative of the European banking authority at the hearing.
the title launched
section 22
(1) the Czech National Bank shall inform the European Commission of any significant
facts gained in her carried out supervision of
credit unions are important for the proper exercise of supervision within the
The European Union, in particular on
and) number and nature of cases where credit unions rejected the request on the
establishment of a branch in the host State,
(b)) has withdrawn the permits,
(c)) financial holding people and mixed financial holding
the persons referred to in article. 11 of European Parliament and Council Regulation (EU) No.
575/2013
d) contracts under section 25 d of paragraph 1. 8 and 9 and agreements under section 25e para. 3,
(e)) the use of the procedure under section 28 to a branch office, where the thing cannot brook
the delay is necessary in the interests of the members,
(f)) of all consolidation units, which includes cooperative
Credit Union,
g) composition of the combined capital reserve and the date on which the credit
unions are subject to combined capital reserve in this
the composition of the keep,
h) recognition of shortening the transitional period for countercyclical capital
a reserve established in another Member State.
(2) the Czech National Bank shall inform the European banking authority of
all relevant facts obtained during her performance conducted by the
supervision of credit unions are important for the proper exercise of supervision
the European Union, in particular on the
and) number and nature of cases where credit unions rejected the request on the
establishment of a branch in the host State,
(b) permits issued and withdrawn),
c) contracts under section 25 d of paragraph 1. 8 and 9 and agreements under section 25e para. 3,
(d)) financial holding people and mixed financial holding
the persons referred to in article. 11 of European Parliament and Council Regulation (EU) No.
575/2013
(e)) the use of the procedure under section 28 to a branch office, where the thing cannot brook
the delay is necessary in the interests of the members,
f) conditions that must be met for the issuance of permits pursuant to this
the law and its implementing provisions,
g) property relations between members of the consolidated Group, its
organizational structure and governance and on other major
the facts relating to the consolidated Group, if the Czech national
the Bank shall exercise supervision on a consolidated basis,
h) data collected for the purpose of comparison between the systems of remuneration and
procedures established by other credit unions on the
1. the number of people whose incomes are at least of the amount corresponding to 1
0000 0000 euros, broken down by their job responsibilities and areas of
the activities of credit unions,
2. major components of wages, bonuses, remuneration based on performance
a longer time period and specific benefits to the persons referred to in paragraph 1,
I) the functioning of the review process and evaluation under section 21a,
(j)), the methodology used as a basis for a decision pursuant to section 21a, para. 3 to
5, section 21b para. 2 and 3 and section 28, during the process of the review and evaluation referred to in
§ 21a, para. 3,
to) cases where it's the section 21b para. 1,
l) the procedures adopted pursuant to section 26 paragraph 1. 1, 2, 4 and 5,
m) authorities or persons, names which may receive information pursuant to
§ 25a,
n) results of the review and evaluation referred to in § 21a, if the results of
suggest an impending systemic risk under art. 23 of the regulation of the European
Parliament and of the Council (EU) no 1093/2010 by credit unions; These
the Czech National Bank will provide the information without undue delay,
o) data collected for the purpose of comparison of trends and practices
remuneration,
p) measures taken under section 7ac (b). (g)),
q) authorization to hold an additional feature of a non-member under section 7aa para.
3,
r) data collected pursuant to § 7ac (b). (h)),
with) information obtained from credit unions on the decision of the members of that
apply to pay, the
t) measures to remedy imposed pursuant to § 28 para. 2 section 11, section 28
paragraph. 6 and the penalties imposed for the administrative offence under sec. 27a para. 1, §
27B para. 2 (a). a), d), (f)) and m), o) to (q)) and section 27 c of paragraph 1. 1, including
information about the appeal against the decision by which the sanctions were imposed,
the combined capital reserve) the composition and the date on which the credit
unions are subject to combined capital reserve in this
the composition of the keep,
in recognition of shortening the transitional period) for a countercyclical capital
a reserve established in another Member State.
(3) on request, the Czech National Bank shall inform the European
banking on all the facts necessary for the performance of its tasks
laid down in the relevant regulations of the European Union.
(4) the Czech National Bank informs the European systemic risk Board of
and the combined capital reserve) the composition and the date on which the credit
unions are subject to combined capital reserve in this
the composition of the keep,
(b) shortening the transitional period) recognition for countercyclical capital
a reserve established in another Member State,
c) counter-cyclical capital rate pursuant to § 8ac para. 3 and data
referred to in section paragraph 8ac 7.
(5) the Czech National Bank shall inform the European insurance and
occupational pensions ^ 43) on the procedures adopted pursuant to section 26
paragraph. 1, 2, 4 and 5.
(6) the Czech National Bank will provide to the European banking authority
synergies in all cases where the European banking authority of the
own initiative contributes to the solution of disputes between the competent authorities.
(7) the Czech National Bank uses data from the database of administrative sanctions
The European banking authority for the assessment of the credibility of the members of
authorities credit unions.
(8) the Czech National Bank shall inform the appropriate College of supervisors of
and the combined capital reserve) the composition and the date on which the credit
unions are subject to combined capital reserve in this
the composition of the keep,
(b) shortening the transitional period) recognition for countercyclical capital
a reserve established in another Member State.
§ 22a
The exchange of information in the supervision of branches of credit unions
(1) in the performance of the supervision of credit unions, the Czech national
the bank cooperates with the supervisory authorities of other States, especially those on
whose territory the credit union branch.
(2) the Czech National Bank provides to the supervisory authorities referred to in paragraph 1
all the information on the co-operative savings bank shares and on the management
the credit unions. The Czech National Bank also provides all the
information that can facilitate the supervision of cooperative záložnou, especially
information on liquidity, solvency, deposit insurance,
capital ratios, limiting large exposures and other factors,
that may have an impact on the degree of systemic risk posed by
cooperative záložnou, administrative and accounting procedures and mechanisms
internal controls.
(3) the Czech National Bank information referred to in paragraph 2 may require the
supervisory authority of the State in whose territory the branch or credit union
on whose territory the person controlling the credit union or
the person controlling person that controls the Cooperative Union.
(4) the Czech National Bank shall immediately provide the supervisory authority of another
the Member State on whose territory the Credit Union carries out its
activities through a branch, all the information related to the
supervision over compliance with the requirements concerning liquidity under part
the sixth European Parliament and Council Regulation (EU) no 575/2013 and regulation
or a decision of the European Commission, where such information is relevant to the
ensuring the protection of clients or members of the credit unions or financial
stability in that Member State. The Czech National Bank immediately
shall inform the competent supervisory authority, a threat to the liquidity of the
credit unions, or if there is reason to suspect that will be compromised
the liquidity of the credit unions. In this case the Czech national
Bank to the competent supervisory authority for information about a plan to restore
liquidity, the manner of its implementation and the action in this
connection accepted. The Czech National Bank shall, on request of a supervisory authority
another Member State on whose territory it carries on Credit Union
activities through its branch to reflect the information from the
It has received.
(5) the Czech National Bank could turn to the European
banking and ask it to settle the dispute by directly applicable
Regulation of the European Union relating to the supervision of financial markets in the
banking ^ 39), if you do not agree with the measures it has taken
supervisory authority of another Member State on whose territory the Credit Union
He carries on business through a branch.
(6) the Czech National Bank may inform the European
banking, if the supervisory authority of another Member State rejects the request
The Czech National Bank about collaboration, in particular on the provision of information, or
does not provide the requested information within a reasonable time.
§ 22aa
The exchange of information regarding supervision on a consolidated basis
(1) in the exercise of supervision on a consolidated basis, the Czech
the National Bank cooperates with the supervisory authorities of other Member States.
(2) the Czech National Bank provides on-demand to the supervisory authorities of other
the Member States the information necessary for the performance of their supervision; from
its own initiative, the Czech National Bank provides the supervisory authorities of other
Member States with critical information, which have a material effect on the
assessment of the financial situation of a foreign bank, the foreign merchant
investment firm or a financial institution in the Member State concerned,
in particular, information about
and property relations between the members) of the consolidated Group, the structure of the
Administration and management including the organizational structure of the consolidated Group,
with the included are all regulated and unregulated entities,
the unregulated subsidiary, branches, and the controlling entity and
authorities in the supervision of regulated entities in this consolidation,
(b)) the information collection practices of credit unions in
consolidation and verification of this information,
(c) developments in cooperative savings bank) or any other person in the consolidation,
that can seriously affect the financial situation of the credit unions in
consolidation,
(d)) serious sanctions and measures to remedy the extraordinary importance of the
stored cooperative savings bank under this law, in particular the requirement to
the capital increase pursuant to § 28 para. 2 (a). and), and the lack of consent to the
the use of internal access or an internal model to calculate the
the capital requirement or refusal of consent to a change of the used
internal access or an internal model,
e) financial holding people and mixed financial holding
the persons referred to in article. 11 of European Parliament and Council Regulation (EU) No.
575/2013.
(3) the information required to exercise supervision on a consolidated basis
The Czech National Bank will ask the supervisory authority of another Member State
carrying out the supervision of a person who is a member of the consolidated Group.
Also ask the authority responsible for supervision on a consolidated basis over the
the European controlling the credit institution for information concerning
approaches and methods used in the performance of prudential rules.
Supervisor on a consolidated basis shall, for the purposes of
This Act means the authority responsible for supervision on a consolidated
basis of article 23(2). 4 (4). 1, point 41 of regulation of the European Parliament and
Council Regulation (EU) no 575/2013.
(4) the Czech National Bank may inform the European
banking, if the supervisory authority of another Member State rejects the request
The Czech National Bank about collaboration, in particular on the provision of information, or
does not provide the requested information within a reasonable time, or where the authority
banking supervision of another Member State does not provide the information
on its own initiative ^ 44).
section 22b
(1) a branch of the credit unions, which carries out
Credit Union their activity on the territory of the host State, it may be
supervisory authority of that Member State identified in accordance with the law of the European Union
a significant (hereinafter referred to as "significant subsidiary").
(2) the Czech National Bank is responsible for the agreement on the designation of a branch
credit unions as an important, if this Credit Union
carried out through this branch activity in another Member State and
supervisory authority of the host State has informed the Czech National Bank on the
intention to mark this important office and told her the reasons which it
lead to this intent in accordance with the law of the European Union. Czech national
the Bank has been developing efforts to this Agreement occurred within 2 months from the date of
When was informed of the intention to designate a branch for a major.
(3) If the Credit Union carries on the activity on the territory of the host
the State through the relevant branches, shall communicate to the Czech National Bank
This state information to the supervisory authorities referred to in § 22aa para. 2 (a). (c)), and
(d)), the results of the process of the review and evaluation referred to in § 21a, provide them
the risk assessment report under section 25 k paragraph group. 2 and in cooperation with the
the supervisory authorities of that Member State shall carry out the tasks referred to in § 25 g para.
1 (b). c). Czech National Bank also communicate to the supervisory authorities of this
Member State decisions on corrective measures, that a cooperative
the savings bank is saved, if the decision is significant for this branch.
(4) If the Czech National Bank discovers the negative development in the cooperative
the savings bank, which carries out activities through a significant branch to
the territory of the host Member State, it shall inform without delay the competent
the central banks of the European system of central banks under the conditions
referred to in section 25a paragraph 1. 4 (b). I) and public authorities according to § 25a
paragraph. 4 (b). k) in the Member States affected by that development.
(5) If the Credit Union carries on the activity on the territory of the host
the State through the branches, the Czech National Bank is established to
performance of the tasks referred to in paragraphs 3 and 4, § 22a and section 22aa College
supervisors (hereinafter referred to as "the College"). The establishment and activities of the College are
based on written arrangements under section 25 d of paragraph 1. 7, which prepares the
The Czech National Bank in consultation with the supervisory authorities referred to in paragraph 3.
Members of the College are the Czech National Bank and the supervisory authorities of the host
States in which the Credit Union carries on business through a
relevant branches. The provisions of § 25 l, para. 4 and 5 shall apply mutatis mutandis.
(6) If the Credit Union carries on the activity on the territory of the host
the State through the relevant branches, shall consult with the Czech National Bank
with the supervisory authority of that Member State of a plan to restore liquidity
credit unions, provided that there is a risk of liquidity, which would
could have a significant impact on the currency of the host State.
(7) the obligations referred to in paragraphs 3 to 6 shall be exercised by the Czech National Bank
then, when it agreed on the identification of a significant branch referred to in paragraph 2
or after he was on the identification of branches of credit unions as an important
informed the competent supervisory authority of the host State.
section 22 c
The Czech National Bank in exercising supervision over the cooperative záložnou, which
pursuing an activity in the territory of the host State through a branch,
take into account when drawing up the plan, the supervisory examination pursuant to § 21 c
information obtained by the supervisory authority of the host State in
place.
Article 23 of the
In the performance of supervision in the form of spot checks on the relations between the Czech
National Bank and persons subject to this supervision controls control
of procedure.
section 24
cancelled
§ 25
cancelled
§ 25a
Obligation of secrecy
(1) the person carrying out the surveillance of the activities of credit unions are
required to maintain the confidentiality of all facts which are
Act in connection with the exercise of their profession, employment or
function. May provide to third parties information only in the aggregate,
the form, which cannot be identified, for which specific cooperative
Union or member credit unions. Obligation of secrecy
It takes even after the end of employment or other similar relationship.
(2) information obtained in the performance of their activities may a person referred to in
paragraph 1 shall apply only to the performance of the tasks of the Czech National Bank or in
the trial of an action in respect of a decision taken in the context of
the supervisory functions, or similar proceedings before the international body.
(3) for the breach of confidentiality is not considered
and provision of information obtained in) connection with the exercise of supervision
authority of the law in criminal proceedings in the Czech Republic,
(b)) provide information to the supervisory authority or the supplementary supervision of
entities in a financial conglomerate, or over financial institutions or
financial markets or credit institution in another State and of the European
the Commission, the
(c) the outcome of stress tests) carried out pursuant to § 22A para. 2
or by directly applicable European Union legislation governing
supervision of the financial market in the field of banking.
(4) for the breach of confidentiality is subject to
This law does not consider the provision of the information obtained in connection with the
the supervisory functions to the public authorities and other persons in the Czech Republic,
If the information provided for the performance of functions
and) bodies when disposing of or decline in credit unions,
(b) the supervisory authority) according to point (a)),
c) auditor statutory financial statements of the credit unions,
d) supervision of an auditor of the accounts provided for the credit unions,
e) supervision of compliance with company law,
(f) the fight against money laundering) of criminal activity and the financing of
terrorism, or the implementation of international sanctions in order to maintain
international peace and security, the protection of fundamental human rights and
the fight against terrorism,
g) oversight of payment or settlement systems,
(h) the operator of a payment or securities settlement) system,
I) the Czech National Bank as the Central Bank of the United States and the authority
enforcing supervision of financial markets,
(j) accounts receivable from insurance schemes) deposits and insurance investors
k) of a public authority, to whose jurisdiction belongs to the preparation of the legal
provisions relating to the supervision of credit institutions and financial
institutions, as well as the people responsible for these authorities to exercise control
activity.
(5) paragraph (4) shall apply to provision of information to the public authorities and
other persons in the Member States and with the exception of the institutions referred to in
paragraph 4 (b). g), (h)), even), and also in other States) and the European
the Central Bank, the European banking authority and the European Council for
systemic risk ^ 34) apply mutatis mutandis.
(6) information obtained in connection with the performance of supervision can be
provided by the institutions of the European Union, also if it is needed to meet the
the obligations arising from international agreements.
(7) the provision of the information referred to in paragraphs 3 to 6 is only possible for
the condition that the recipients of the information protection regime is introduced
at least in the scope of this Act.
(8) information obtained from the authorities of the host Member States may not be used
for any purpose other than for which it was provided, and may not be without
consent provided to the third party provider. The information obtained in the
the policy framework in place within another State may not be without the consent of
supervisory authorities of that State is provided to a third party.
§ 25b
(1) the Credit Union is required to keep confidential and protect against
misuse of information about your member and its stores with cooperative
záložnou.
(2) a report on the information that is required to maintain the Credit Union
secret and protected from misuse, the Credit Union is required to place the
persons entitled to exercise supervision. To infringements of the provisions of paragraph 1 shall
does not consider the exchange of information between the Czech National Bank and the supervisory authorities
and similar bodies of other States, if the subject of the exchanges are
information about entities that operate or intend to operate in the territory
the competent State. Violation of the obligations laid down in paragraph 1 shall be also
There is no data about the member credit unions and its stores in
criminal alert or in meeting reporting obligations under
the Act on certain measures against the legalization of proceeds of crime
the activities and the financing of terrorism or of the law on the implementation of the international
sanctions. Violation of the obligations laid down in paragraph 1 is not even pass
information to another payment service provider or in the framework of the
the payment system, if this is necessary due to the prevention of fraud
in the area of payment systems, their investigation and detection.
(3) a report on the information that is required to maintain the Credit Union
secret and protected from misuse, the Credit Union shall, without the consent
Member only on written request
and for the purposes of) Court civil procedure ^ 20),
(b)) law enforcement authority under the conditions which it lays down special
the law ^ 21),
c) tax under the tax code,
(d)), the competent authority in accordance with the Act on certain measures against the
the legalization of the proceeds of crime and terrorist financing or
the law on the implementation of international sanctions,
(e) social security institutions) in the case of social control
Security and contribution to the State employment policy, that Member
credit unions owe social security institutions or municipal
authorities of municipalities with extended competence or entrusted with the municipal authorities in the
case management of overpayment on social security contributions or the authorities
State social support in the matter of the overpayment proceedings on the State
social support, which is a member of a credit union shall return; It
also applies to the enforcement of this insurance, allowance and overpayment,
(f)) of health insurance companies in the case of proceedings for the public
health insurance, which is a member of the Credit Union owed; This is true even
for the recovery of insurance premiums,
(g)) the bailiff entrusted with execution under a special
the law ^ 22),
h) Employment Office of the Czech Republic in the case of proceedings for the recovery of
funds provided by the member credit unions of the State
the budget; This also applies to the recovery of these resources,
I) national security authority, intelligence services or
The Ministry of the Interior in the implementation of safety management in accordance with
a special law ^ 18 c),
j) intelligence services in order to accomplish a specific task in its
scope of application under the law governing the activities of the intelligence services
The United States, with the consent of the judge; for request messages shall be used
the provisions of the law governing the activities of the intelligence services of the United
of the Republic.
The written request must contain the information, according to which a cooperative
Thrift is the issue in question to be identified.
(4) the Credit Union shall communicate without the agreement of the Member to the
the written request of the organs of social security in case the recovery procedure
benefits credited to Member's account after the date for which belonged to the last payment
benefits of the deceased claimant, including its enforcement, identification
information about your member, which is the account owner, and persons authorized to
to dispose of the funds in that account and particulars of the matters
relating to this account. The Credit Union is also required after
death of a member, of the following information on the written request of the Labour Office of the Czech
of the Republic.
(5) the filing of a report pursuant to paragraph 3 (b). a) and g) belongs to the cooperative
the savings bank remuneration in kind costs.
(6) the Credit Union is required to (i) without the consent of its members to communicate
the person authorized for the purpose of enforcement of a decision or execution of a tax number
your member account including credit unions and identification code
identification data of its Member, which is the account owner. The same
the obligation to credit unions also applies in relation to a person who proves
as a result of its own bad disposition cooperative savings bank has suffered
and that without this information cannot claim their right to issue
unjust enrichment within the meaning of the civil code. The filing of a
the information cooperative savings bank remuneration in kind costs.
(7) a report on the information that is required to maintain the Credit Union
secret and protected from misuse, the Credit Union shall report in
connection with his business activities in the territory of another State even without the consent of the
the Member, if it is necessary to fulfil the obligations imposed by the laws of the
the State on whose territory it is taking. The provisions of the Special Act ^ 23) by
are not affected.
(8) the information covered by the obligation of professional secrecy, the cooperative
a Credit Union to provide, if it is necessary for the purposes of supervision on a
consolidated or supplementary supervision ^ 3 c) authority that this
supervision.
(9) the information covered by the obligation of professional secrecy, the cooperative
a Credit Union to provide, if it is required to provide, the controlling entity for
to prepare statements on a consolidated basis and for the purposes of carrying out
prudential rules.
section 25 c
(1) Personnel and members of the institutions credit unions are required to
maintain confidentiality in business matters affecting the interests of the
credit unions and their members. For the reasons given in paragraph § 25b. 2,
3, 4 and 6 of the Board of Directors is relieved of this obligation.
(2) the obligation to maintain confidentiality persists after the end of the
employment relationship or other similar relationship.
§ 25 d
(1) the supervision on a consolidated basis provided for in this Act shall mean the
monitoring and control of risks on the consolidation plant, the part is
the Credit Union, in order to reduce the risks to which it is a cooperative
the thrift is exposed in terms of its participation in the consolidation.
(2) supervision on a consolidated basis is not the supervision of individual
the persons included in the consolidated Group and does not replace the power
supervision on an individual basis over credit unions according to the
of this Act or the supervision of banks under special laws
regulations.
(3) in the exercise of supervision on a consolidated basis of the Czech National Bank
works with the prudential supervision of credit institutions or financial institutions
abroad, and has the right to exchange information with these authorities.
The provisions of § 25a shall remain unaffected.
(4) the Czech National Bank may, for the purpose of exercising supervision on a consolidated
the basis of the performed inspection in the persons included in the
the consolidated group or request the competent authority of the
supervision. The Czech National Bank informs about the opening, of the purpose and results of the
the-spot checks, the competent supervisor of the controlled person.
The provisions of § 25a shall remain unaffected.
(5) where the Czech National Bank information necessary for the performance of
supervision on a consolidated basis, it knows that it has already been a member of the
the consolidated Group given to another supervisory authority, preferably
requests for such information by that authority.
(6) the performance of the supervision carried out by the Czech National Bank over a member of the
European financial holding of the person is based on written arrangements for
coordination and cooperation with the supervisor on the
a consolidated basis over that group. Such supervisory authority can
These arrangements entrust tasks relating to the coordination and
cooperation.
(7) where the Czech National Bank supervision on a consolidated basis
above the Group of European financial holding person, must have written
the arrangements for coordination and cooperation with the authorities supervising
members of this group. The Czech National Bank to entrust these arrangements can be
tasks relating to the coordination and cooperation.
(8) instead of the Czech National Bank is the supervisory authority of another Member State
carrying out supervision on a consolidated basis over the Group of the European
the financial holding of the person competent to exercise supervision in accordance with the law
The European Union ^ 27) of a member of this group, based in the Czech Republic,
and to the extent and under the conditions established by the international agreement that is
part of the rule of law. This international treaty always lays down the conditions
under which the Czech Republic has the right to reimbursement to the institution of the regression
supervision of another Member State or to the Member State on whose
the territory has this authority is established, if the damage or non-material
the injury suffered by the authority in the exercise of supervision caused the illegal
by a decision or incorrect official procedure. In the exercise of supervision
supervisory authority of another Member State shall apply the legal order of the Czech
of the Republic. Liability for damage caused by the supervisory authority of another
the Member State of its decision or incorrect official procedure
exercising supervision shall be assessed according to the law governing liability for
damage caused in the exercise of public authority ^ 28).
(9) instead of the supervisory authority of another Member State, the Czech national
the Bank, carrying out supervision on a consolidated basis over a group of
European financial holding of the person responsible for the performance of supervision in the
accordance with the law of the European Union ^ 27) of a member of this group, based in
another Member State, to the extent and under the conditions laid down
the international agreement that is part of the legal order.
(10) Paragraph 6 to 9 shall apply mutatis mutandis for the supervision, on the
a consolidated basis of the responsible cooperative záložnou controlled
European mixed financial holding person.
section 25e
(1) the Czech National Bank shall exercise supervision on a consolidated basis over the
group controlling a credit institution, which is responsible
the Credit Union in the group, the controlling shareholder of the credit institution.
(2) the Czech National Bank shall exercise supervision on a consolidated basis over the
Group financial holding of the person is a member of the responsible
Credit Union financial holding group of the person and above
the responsible cooperative záložnou controlled mixed financial holding
person. Group financial holding persons controlled by domestic financial
holding a person subject to supervision on a consolidated basis, only if
is a member of this group of the credit institution, securities dealer
or financial institutions which have their head office in another Member State.
(3) the Czech National Bank and) exercises supervision over the Group's financial
the holding of a person who does not meet the conditions referred to in paragraph 2, first sentence,
or (b)) shall refrain from exercising supervision of financial holding group
a person who satisfies the conditions referred to in paragraph 2, first sentence, if the
as agreed with the relevant supervisory authority of the Member State, and if the
They determine the responsible credit unions in the group financial
the holding of the person according to the criteria laid down in this law as
inappropriate, in particular with regard to the meaning of the credit unions that are
members of the consolidated Group, for the financial market in the
the Member States. In this case, however, the Czech National Bank or
the competent supervisory authority in advance will require the opinion of the responsible cooperative
unions in the group the financial holding of the person or of the European financial
holding persons who are members of the consolidated Group.
If the Czech National Bank shall proceed under (a)), the cooperative
Union, which will fulfill the obligations of responsible credit unions in
the financial holding group of the person.
(4) paragraph 3 shall apply mutatis mutandis for the exercise of supervision on a consolidated
the basis of the above, the responsible cooperative záložnou operated a mixed financial
holding a person.
(5) the Czech National Bank shall exercise supervision on a consolidated basis over the
a group of mixed-activity holding person.
(6) the Czech National Bank may refrain from the exercise of supervision on a
a consolidated basis of consolidation in total, has a controlling person
registered office in a State which is not a Member State, if it is above this
consolidation total practiced comparable supervision on a consolidated
basis in accordance with the applicable European Union legislation directly governing the
prudential requirements. Prior to this decision, Czech National Bank
requests the opinion of the supervision authority, a credit institution which is
a member of the same consolidated Group and that has been granted permissions to
exercise of the activity in another Member State, and the European
banking. If it is not supervised or comparable supervision on
consolidated basis, the consolidation of this total, Czech national
the Bank may require a member of the consolidation unit establishing the financial
holding the person or mixed financial holding persons in the territory of the United
Republic or another Member State. If so, this
the fact the authority oversight of the credit institution which is a member of
the same consolidated Group and which has been granted permission to perform
activities in another Member State, and to the European Commission and the European authority
for banking.
§ 25f
(1) the responsible Credit Union financial holding group of the person
responsible Credit Union operated a mixed financial holding
person, the Credit Union in a group of mixed-activity holding persons and
responsible Credit Union in the group, the controlling shareholder of the credit institution,
that are members of the consolidated Group which is subject to the supervision of the Czech national
Bank on a consolidated basis under this Act, are required to
to follow on a consolidated basis
and) the requirements for the management and control system (Section 7a),
b) policies and procedures for the evaluation, and internal changes
capital (§ 8a)
(c)) the requirements for operation in the framework of the consolidated Group.
(2) the persons included in the consolidated Group are obliged to on-demand
communicate to the Czech National Bank directly or through banks in accordance with
paragraph 1, all the information necessary for the implementation of the supervision on a
a consolidated basis.
(3) persons included in the consolidated group must create the corresponding
control mechanisms to ensure the accuracy of the information provided for
purposes of supervision on a consolidated basis.
(4) the responsibility of the Credit Union in the group the financial holding of the person
responsible Credit Union operated a mixed financial holding
person, the Credit Union in a group of mixed-activity holding persons and
responsible Credit Union in the group, the controlling shareholder of the credit institution,
that are members of the consolidated Group which is subject to the supervision of the Czech
the National Bank on a consolidated basis in accordance with this law, in advance
the Czech National Bank shall notify the auditors who will perform an audit of people
included in the consolidation. The Czech National Bank shall proceed mutatis mutandis
under section 8b paragraph. 3.
(5) the Czech National Bank is entitled to require from the responsible cooperative
unions in the group financial holding persons responsible cooperative
unions controlled by the mixed financial holding person, cooperative
unions in the Group mixed-activity holding persons and responsible cooperative
unions in the group controlling the credit institutions that are members of the
the consolidation unit subject to the supervision of the Czech National Bank
a consolidated basis pursuant to this Act, audit information
to be transmitted for the purposes of supervision on a consolidated basis.
(6) the Credit Union is required to appropriately monitor their operations with members of the
the same consolidated Group, control the risks associated with them and to undergo
is the appropriate internal control mechanisms.
(7) a financial holding, the person and the person is a mixed financial holding
required to ensure that a member of their Board of Directors, of the Audit Commission and
the credit of the Commission was the person trusted, experienced enough to carry out its
functions and to ensure the requirements for a financial holding
person and mixed financial holding a person from this Act.
More detailed requirements shall set by Decree of the Czech National Bank.
(8) a financial holding and mixed financial holding person
the Czech National Bank will inform in advance about the proposed changes to the members of the
the Board of Directors, of the Audit Commission and credit the Commission and submit to it
documents confirming the credibility and experience of the proposed individuals.
A person who has newly become a person or a mixed financial holding
financial holding person, is obliged to fulfil the obligation to respect
members of the Board, the Audit Commission and the credit within 2 months from the Commission
the date on which the person becomes a financial holding, otherwise, it is considered that the
These members do not meet the established requirements. The individual concerned is
required financial holding the person or mixed financial holding
person to provide necessary documents and assistance. The facts and documents
proving the credibility and experience of the members of the Board of Directors, audit
the Commission and the Commission of the financial holding of credit of a person or of a mixed financial
holding the person down by Decree of the Czech National Bank.
§ 25 g
(1) where the Czech National Bank supervision on a consolidated basis
under this Act the European financial holding over a group of people
or the responsible cooperative záložnou controlled the European mixed
financial holding person, in addition to the tasks provided for in this Act
or special legislation ^ 26) or a directly applicable regulation
The European Union governing the prudential requirements the following tasks:
and) coordinates in relation to the supervisory authorities of other Member States
the collection and provision of relevant or necessary information,
(b)), in cooperation with the competent authorities of supervision plans and coordinates
the procedure of these organs in the exercise of supervision; This work includes
coordination and supervision of planning activities of the cooperative
credit unions adjusted under section 7A(1). 1 (b). (b)), part eight regulations
The European Parliament and of the Council (EC) no 575/2013 and in section 8a, exercising supervision
carried out pursuant to § 21a and saving measures under section 28, including
coordination of supervision within the meaning of similar provisions of
legislation of another Member State,
(c)) in cooperation with the competent authorities and, where appropriate, with
the central banks of the European system of central banks, which
means the Central Bank of the European system of central banks under article. 4
paragraph. 1, point 45 of the European Parliament and of the Council (EU) no 575/2013
plans and coordinates the procedure of these organs in preparation for an adverse
developments in cooperative savings bank and emergency (section 25 h, paragraph 1), and
the procedure of these organs in the course of adverse developments in the Credit Union they
and emergency situations; further plans and coordinates the development of joint
reviews, implementation of plans for emergency situations, public information
and saving measures to remedy the extraordinary importance within the meaning of section 25i CKS para.
1 (b). (b)) and the similar provisions of foreign law,
(d)) on-demand provides to the supervisory authorities of other Member States
carrying out the supervision of a person who is a member of such
the consolidated Group, the information necessary for the performance of supervision of the
person, in particular taking into account the importance of this person for the financial market
of that State (Article 22a),
e) decide on the joint application for the granting of prior consent with
your use of any of the internal approaches or changing such
used by access.
(2) If a competent authority of another Member State with the Czech
National Bank in the performance of its task referred to in paragraph 1 in
sufficient extent does not cooperate, the Czech National Bank
inform the European banking authority ^ 35).
(3) the Czech National Bank may inform the European banking authority
also of cases where the supervisory authority of another Member State in the exercise of
supervision on a consolidated basis of the European Group of the controlling
a credit institution, a financial holding group of the European people,
the responsible cooperative záložnou controlled the European mixed financial
holding the controlling person or group, the European dealer
securities under the law governing the capital market,
the Member of the Czech National Bank is subject to supervision, fulfil its tasks
stored on the basis of the legislation of the European Union relating to the
^ 35) credit institutions.
section 25 h
(1) where the Czech National Bank supervision on a consolidated basis
under this Act the European financial holding over a group of people
or the responsible cooperative záložnou controlled the European mixed
financial holding and if an emergency occurs, including
adverse developments in financial markets, which may undermine the liquidity of the
market and the stability of the financial system (hereinafter referred to as "the emergency")
the Member State in which the seat of a member of this group or in which he/she pursues
activities through the relevant branches, branches under the Act
relating to the bank or the relevant branches according to the law
governing business on the capital market, the Czech National Bank without
undue delay shall communicate to the
and central banks) the European system of central banks in Member
States concerned this situation information, and under the conditions referred to in
Section 25a paragraph 1. 4 (b). I), and
(b)) the European banking authority and the European Council for system
risk and the public authorities referred to in section 25a paragraph 1. 4 (b). k) in
the Member States concerned by this situation, all the information that is
relevant to them.
(2) if the Czech National Bank, an extraordinary situation which may have
the impact in a Member State, it shall inform without delay the European
for banking and the authority responsible for supervision on a consolidated basis
above the Group of European financial holding of the person whose member has its registered office in
the Member State concerned or in a Member State pursuing an activity
through the relevant branches, branches under the Act
relating to the bank or the relevant branches according to the law
governing business in the capital market.
section 25i CKS
(1) before the Czech National Bank
and decision pursuant to § 2b) paragraph. 3,
(b) the imposition of severe penalties or) corrective measures of primary importance
cooperative savings bank, in particular, the requirement of the capital increase referred to in § 28
paragraph. 2 (a). and point 1)
(c)) refusing an application for consent to the use of internal
approach to calculating the capital requirement pursuant to article. 312 paragraph 1. 2
European Parliament and Council Regulation (EU) no 575/consult
the fact with the supervisory authority carrying out supervision on a consolidated
basis of consolidation the total, concerned is a member of the cooperative
the Credit Union, and with other supervisory authorities, which this fact also
refers to.
(2) the Czech National Bank does not have to consult the facts referred to in paragraph
1, if the thing does not tolerate delay, or would be likely to prejudice the purpose of such consultation
decision. In such a case, it shall inform the supervisory authorities without
undue delay.
section 25j
If it finds the Czech National Bank in the performance of the supervision of cooperative
záložnou an extraordinary situation which may have an impact in the Czech Republic,
The Czech National Bank without undue delay inform about this fact
and the European system of central banks) of the central banks of the Member
States concerned by this situation, under the conditions referred to in section 25a paragraph 1. 4
(a). I) and
(b)), the public authorities referred to in section 25a paragraph 1. 4 (b). k) in the Member
States concerned by this situation, when for them the information
significant.
§ 25 k
(1) where the Czech National Bank supervision on a consolidated basis
under this Act the European financial holding over a group of people
or the responsible cooperative záložnou controlled the European mixed
financial holding person, it is appropriate, in agreement with the other institutions
supervising the members of this group, save the Member of this
Group
and) corrective action under § 28 para. 2 (a). and point 1 and according to) section 28
paragraph. 2 (a). (c)), in the case of a cooperative Union,
b) remedial measures consisting in the increase of capital above the minimum
level and in the form of special liquidity requirements under the Act
relating to the bank, if the Bank or a foreign bank, or
c) remedial measures consisting in the increase of capital above the minimum
level and in the form of special liquidity requirements under the Act
governing business on the capital market, if it is a dealer of
securities, which is not a bank or a foreign dealer
securities under the law governing the capital market.
(2) the Czech National Bank in advance to inform other authorities
the supervision of the members of the groups concerned of the intention to impose measures to remedy the
in accordance with paragraph 1, they shall report on the assessment of the risks
capital and liquidity risk of the group. The Czech National Bank develops
efforts to ensure that the agreement was reached in accordance with paragraph 1 within a period of up to 4
months from the date of the Czech National Bank has presented to the other institutions
executing the supervision of members of the groups concerned to report on the assessment of the protection
risk capital, and within a period of one month from the date on which the present report
on the assessment of liquidity risk.
(3) if the agreements referred to in paragraph 1 in the following time limits are reached,
and the Czech National Bank) is appropriate to impose measures to remedy referred to in
paragraph 1, members of the group concerned over which it exercises oversight, and without
the agreement with the other authorities supervising the members concerned
of the Group; While taking into account the risk assessment, the members of this group
as expressed in the opinion of the other institutions exercising oversight of the
members of this group, and those authorities shall send a copy of the written note
copy of the decision, or
(b)) may the Czech National Bank in the last 7 days before the date of expiry of the time-limits
referred to in paragraph 2 may request the European banking authority of
settlement of the dispute by the directly applicable European Union legislation
relating to the supervision of financial markets in banking ^ 36);
If the Czech National Bank or authorities to supervise the members
the group concerned referred to in paragraph 1 apply to the settlement of the dispute,
the Czech National Bank interrupts the proceedings for the imposition of measures to remedy the
the release of the decision of the European banking authority.
(4) If no agreement is reached between the authority supervising the
a consolidated basis of the credit Europe group controlling
a group of European financial institutions, holding persons responsible
cooperative záložnou controlled the European mixed financial holding
a person or group controlling the investment firm's
papers under the law governing the capital market and the Czech
National Bank of imposing measures to remedy the Czech National Bank
cooperative savings bank that is a member of one or more of the listed groups, and
it within 4 months from the date on which the authority responsible for the supervision of
a consolidated basis of the Group presented the Czech national
a Bank report on the assessment of the risk coverage capital of this group, or in the
a period of one month from the date on which the authority responsible for the supervision of
a consolidated basis of the Group presented the Czech national
a Bank report on the assessment of liquidity risk of the Group
and the Czech National Bank) is appropriate given the Credit Union they save
separately, the corrective measures under section 28(1). 2 (a). and) point 1 and
According to § 28 para. 2 (a). (c)); While taking into account the risk assessment, the members of the
This group expressed in the opinion of the other institutions performing
the supervision of the members of this group, and those authorities shall send a copy of the note
a written copy of the decision, or
(b)) may the Czech National Bank in the last 7 days before the expiration of
those time-limits may request the European banking authority to settle the dispute
According to the applicable European Union legislation directly governing the supervision of
financial market in banking ^ 36); If the Czech National Bank
or authorities to supervise the members of the group concerned referred to in
paragraph 1 shall apply to the settlement of the dispute, the Czech National Bank
the procedure for the imposition of corrective measures in the decision of the European
banking authority.
(5) before issuing a decision under paragraph 3, the Czech National Bank
may request the opinion of the European banking authority. Czech
the National Bank always requests this opinion, if requested by
one of the other authorities exercising supervision over the members concerned
the Group of. If it was before taking a decision under paragraph 3 or 4
requested by the European banking authority, the Czech national
It is based on the Bank, unless the reasons for the decision shall state the reasons for
that deviates from this opinion.
(6) the Czech National Bank is reviewing the decision under paragraph 1, 33
(a). and of paragraph 4 (b)), or. and) at least once a year according to the procedure
referred to in paragraphs 1, 2, 3 (b). and, paragraph 4 (b)). a) and paragraph
5. Czech National Bank may revise this decision on the reasoned
a written proposal from the authority of the executing the supervision of a member of the group concerned.
In that case, the decision referred to in paragraph 1, 3 (b). and) or
paragraph 4 (b). and also only) to examine the extent of this proposal.
(7) the Credit Union is required to maintain capital on an individual
or consolidated basis above the minimum level, if this
the obligation imposed on decisions made, in agreement with the Czech national
Bank, the authority of another Member State, supervising the
a consolidated basis.
§ 25 l
(1) where the Czech National Bank supervision under this Act to
a consolidated basis over European financial holding group of the person
or the responsible cooperative záložnou controlled the European mixed
financial holding person, established for the performance of the tasks referred to in § 25 g
and 25 h by the College. The establishment and functioning of the College shall be based on written
arrangements under section 25 d of paragraph 1. 7, after the Czech National Bank
consultation with the relevant supervisory authorities. If appropriate, the Czech national
the Bank in compliance with the obligations of confidentiality and other requirements
laid down by the law of the European Union, coordinates the cooperation with supervisory authorities
other than the Member States. The establishment and operation of colleges are without prejudice to
the powers and responsibilities of supervisory authorities established by the law of the European Union.
(2) the College lays the groundwork for the cooperation of the Czech National Bank and
the other supervisory authorities concerned in
and) exchange of information,
(b) the application of the arrangements and international) treaties under section 25 d of paragraph 1. 6 to 9,
If appropriate,
(c)) the determination of control plans based on the assessment of the risks concerned
the group under section 21a,
(d) increasing the effectiveness of supervision by limiting) duplicate the requirements when you
the exercise of supervision, including the requirement to provide information under section 25 d
paragraph. 5, § 22aa para. 3 the second sentence, and according to similar provisions
foreign law
uniform application of the rules (e)) the prudent business within the affected
Group, without prejudice to the powers of the supervisory authorities established by the law of the
The European Union,
(f) planning and coordination of the activities) referred to in § 25 para. 1 (b). (c)), and
in similar provisions of foreign law, taking into account
the activities of other bodies, if they are set up for this purpose.
(3) the members of the College are
and the Czech National Bank),
(b)) the authority competent to supervise the members of the group concerned,
(c) the supervisory authorities of the host State), in which the groups concerned
carries out activities through branches, branches
under the law governing the activity of the banks or branches according to the
the law governing the capital market,
(d)) of the Central Bank of the European system of central banks, if it is
appropriate, the
e) supervisory authorities, other than the Member States, where appropriate and
If, in the opinion of the supervisory authorities concerned, protects information
at least in the range of what is required by the law of the European Union.
(4) the Czech National Bank governs the conduct of the College and determines who the members
participating in a meeting or other activity of the College. In doing so, takes into account the importance of
These activities for the performance of their duties referred to in paragraph 22b para. 2 and
3, as well as their importance for members of the College. Based on the available
information, in particular, take into account the potential impact on the stability of the financial
of the Member States concerned, in particular in emergency
situations.
(5) the Czech National Bank is making an effort to ensure that the members of the College closely
They collaborated. The Czech National Bank shall inform in advance the
members of the College about the College, meeting agenda and planned
activities and without undue delay and shall inform them of the conclusions adopted by the
at the hearing, or on other agreed activities.
(6) the Czech National Bank shall inform the European banking authority of
the activities of the College, even in the case that an emergency occurs, and
provide it with all the information, which are relevant for the approximation of the
tools and supervisory practices. The provisions of § 25a shall remain unaffected.
section 26
(1) the Czech National Bank may in the exercise of supervision on a consolidated
the basis of the above mixed financial holding a person in consultation with the
the supervisory authorities concerned may provide that in exercising this supervision
It's only the relevant provisions of the law governing the supplementary supervision
over a financial conglomerates Committee, and under the condition that this mixed
financial holding person subject to comparable requirements of this Act
and the law governing the supplementary supervision of financial conglomerates,
in particular, as regards the risk-oriented supervision.
(2) where the Czech National Bank supervision on a consolidated basis
over responsible cooperative záložnou controlled the European mixed
financial holding person, may, after consultation with the competent authorities
supervisors may provide that in exercising this supervision applies only the appropriate
provisions of the Act relating to the supplementary supervision of financial
conglomerates, on condition that this European mixed
financial holding person subject to comparable requirements of this Act
and the law governing the supplementary supervision of financial conglomerates,
in particular, as regards the risk-oriented supervision.
(3) the Czech National Bank is responsible for consultation about using only
foreign legislation on supplementary supervision of
financial conglomerates, is the supervising authority over
cooperative záložnou controlled the European mixed financial holding
person and if this consultation called upon the authority executing
supplementary supervision over a financial conglomerate.
(4) the Czech National Bank may, in the exercise of supervision on a consolidated
basis may provide that in exercising this oversight of a mixed financial
holding a person uses only the provisions which apply to the
the most important sector under the law governing the supplementary supervision of
financial conglomerates, and under the condition that this mixed
financial holding person subject to equivalent requirements of this Act
and the law governing the activities of the insurance undertakings, in particular with regard to risk-
oversight-oriented.
(5) where the Czech National Bank supervision on a consolidated basis
over responsible cooperative záložnou controlled the European mixed
financial holding person, may, in agreement with the competent authorities
supervisors may provide that in exercising this supervision applies only
the provisions, which apply to the most important sector according to law
relating to the supplementary supervision of financial conglomerates, and under the
provided that this person's European mixed financial holding
subject to equivalent requirements of this Act and the law governing
the activities of the insurance undertakings, in particular as regards risk-oriented supervision.
(6) the Czech National Bank is responsible for the agreement on the use of only
foreign legislation relating to the most important sector
According to the rules governing the supplementary supervision of financial
conglomerates, is the supervisor of the cooperative
záložnou controlled European person and mixed financial holding
If this agreement called on supervisor group
This European mixed financial holding person.
section 27 of the
(1) the Credit Union is required to draw up and submit to the Czech national
the bank information and documents whose content, form, time-limits and the way
the submission provides for the Czech National Bank by Decree.
(2) outside of the information and documents referred to in paragraph 1, the Czech National Bank
authorized to invite the Cooperative Union for the submission of further data, documents
or information. The Credit Union is required to submit the requested information,
documents or information within 3 days of receipt of the request, if it is not in the call
deadline later.
(3) the Credit Union is required to inform the Czech National Bank on the
the proposed change to the articles of Association concerning the facts, which must be in
the articles listed on the basis of the request. A certified copy of the statutes and their
amendments shall be deposited with the Czech National Bank.
Administrative offences
§ 27a
Misdemeanors
(1) a natural person has committed the offence by
and) will launch activity that are subject to authorisation under this Act, without
This authorization,
(b) acquires a qualifying holding) on cooperative savings bank or increase it,
that reaches the capital of the shares or of the voting rights
referred to in § 2b para. 3, without the prior consent of the Czech National Bank,
(c) acquires control of a cooperative Union) without the prior consent of the Czech national
Bank pursuant to § 2b, paragraph 1. 3, or
d) uses the sign "savings and credit cooperative" or "cooperative
Credit Union "or" credit cooperative "contrary to section 1 (1). 3.
(2) a natural person as a person under the supervision of the Czech National Bank
commits an offence that does not fulfil one of the obligations laid down
the control regulations.
(3) a worker or a member of the elected body of the credit unions committed
offence by breach of an obligation of professional secrecy in business
matters affecting the interests of the Credit Union and its members (section 25 c).
(4) a member of the elected body of credit unions has committed the offence,
that does not inform the Czech National Bank without delay of the facts
referred to in section 6 (1). 10.
(5) a member of the Commission or a member of a credit cooperative unions, which has been under
the articles of Association shall be empowered to decide on the granting of a loan, is guilty of an
the offense that becomes the guarantor of the loan, for which the provision of
decides.
(6) the insolvency administrator of the Credit Union is guilty of an offence by
at the request of the Czech National Bank to convene within 30 days of receipt of the request
membership meeting credit unions solely for the purpose of the approval of the proper
financial statements (§ 5a (4)).
(7) the natural person who is a member of the consolidated Group, whose Member
It is also a Credit Union, is guilty of an offence that does not fulfil
the Czech National Bank's request under section 27f para. 2 (a). and) or
the obligation laid down by the Czech National Bank issued on the basis
section 27f para. 2 (a). (b)), and (c)).
(8) the Member of the Board of directors or Audit Committee member credit unions
is guilty of an offence that does not inform without delay the Czech national
the Bank under section 28ab.
(9) can impose a fine for the offense to
and 200 000 CZK), if the offence referred to in paragraph 5,
b) 500 000 CZK in the case of the offence referred to in paragraph 6,
(c) $ 1 0000 0000), in the case of a misdemeanor pursuant to paragraph 1. (b)), or (d)),
paragraph 3, paragraph 4 or paragraph (7),
(d) 5 0000 0000 Czk), if the offence referred to in paragraph 2 or article 8,
(e) the amount of the advantage, twice), if it is a misdemeanor under
paragraph 1 (b). and) or (c)); not if the amount of the unlawful benefit
to find out, you can impose a fine of up to $ 130 0000 0000.
section 27b
Administrative offenses credit unions
(1) the Credit Union is guilty of an administrative offense, by
and) carries out activities in conflict with the issued permit [section 1, paragraph 5, point (a).
and)],
(b) fails to comply with the obligation laid down in) decision of the Czech National Bank pursuant to
section 28,
(c)) does not publish audited accounts, annual report, or a copy of the
permit (§ 1 para. 6)
d) unlawfully acquires a direct or indirect share capital
legal person, becomes a member of, a partner or shareholder of a legal
persons or otherwise shall take effect on the management of the legal person (§ 1
paragraph. 8),
e) admits to membership meeting the participation of the person to whom the Czech National Bank
suspended the rights under section 2 c of paragraph 1. 1,
(f)) does not inform the Czech National Bank on the acquisition or change of the qualified
the participation of the people in the cooperative savings bank under section 2 c of paragraph 1. 3,
g) shall establish a branch within the territory of the host State, without the consent of the Czech
National Bank (§ 2d (1)) or change the facts relating to the
activities of the branch on the territory of the host State, contrary to the provisions of §
2E paragraph. 2,
h) begins to do business in the territory of the host Member State without establishing a branch,
without this your intention, including the specification of the activity carried out in advance
announced by the Czech National Bank (section 2f),
I) does not provide information on request of the host State and the regular
reports in the form of statistical data on the business of its branch in the territory of the
of the host State, in accordance with § 2 g of paragraph 1. 2,
j) an act or practice of its branch in the territory of the host State
violates the provisions of the legislation of the host Member State or directly
of the applicable legislation of the European Union governing the prudential
requirements,
k) takes things contrary to the provisions of § 3 para. 2 and 3,
l) breach of the obligations laid down specific legislation for ^ 18a)
the conclusion of contracts on financial services negotiated at a distance,
m) it's the credit assessments for the calculation of capital requirements in
inconsistent with this Act.
(2) the Credit Union is guilty of an administrative offense, by
and) the management and control system does not meet all the requirements laid down
This Act, legislation implementing it, decision or
measures of a general nature issued pursuant to this Act, a directly applicable
the EU regulation governing the prudential requirements, regulation
or a decision of the European Commission,
(b)) does not provide a legal entity or natural person in connection with its
business without delay a written explanation of its credit
reviews pursuant to article. paragraph 431. 4 regulation of the European Parliament and of the Council
Regulation (EU) no 575/2013
c) fails to comply with the rules for determining the capital, specifying individual
capital requirements and conditions for the use of internal policies and
internal models for the calculation of capital requirements under part two, and
the third European Parliament and Council Regulation (EU) no 575/2013 and the measures
the general nature of the Czech National Bank pursuant to § 9a,
(d)) shall not divulge to the Czech National Bank information, or incomplete or incorrect
information referred to in article 14(2). paragraph 99. 1 regulation of the European Parliament and of the Council (EU)
No 575/2013, regulation or a decision of the European Commission,
e) applies or changes the internal approach for calculating the capital
the request without the prior consent of the Czech National Bank or other
supervisory authority of the Member State, or uses these approaches in violation of
the mandatory conditions set out in this consent according to art. 143
European Parliament and Council Regulation (EU) no 575/2013, regulation or
decision of the European Commission,
f) communicated to the Czech National Bank information, or incomplete or incorrect
details of the capital requirements laid down in article 4(1). 101 of regulation
The European Parliament and of the Council (EU) no 575/2013, regulation or decision
The European Commission,
g) are exposed to the credit risk of a securitisation position,
h) exposure exceeding the limits shall be issued as set out in article 3(2). 395 regulation
The European Parliament and of the Council (EU) no 575/2013, regulation or decision
The European Commission and measures of a general character of the Czech National Bank pursuant to §
9A,
I) communicated to the Czech National Bank information, or incomplete or incorrect
data on large exposures in accordance with the requirements referred to in article 14(2). 394 paragraph. 1
European Parliament and Council Regulation (EU) no 575/2013, regulation or
decision of the European Commission,
j) communicated to the Czech National Bank information, or incomplete or incorrect
leverage data in accordance with the requirements referred to in article 14(2). 430 paragraph. 1
European Parliament and Council Regulation (EU) no 575/2013, regulation or
decision of the European Commission,
k) communicated to the Czech National Bank information, or incomplete or incorrect
information on liquidity in accordance with the requirements referred to in article 14(2). 415 para. 1 and 2
European Parliament and Council Regulation (EU) no 575/2013, regulation or
decision of the European Commission,
l) does not maintain a repeatedly or for extended periods of liquidity under art.
412 European Parliament and Council Regulation (EU) no 575/2013
m) in the range of information available and in the manner laid down in article 4(1). paragraph 431.
1 to 3, or article. paragraph 1(a) 451. 1 regulation of the European Parliament and of the Council (EU)
No 575/2013, regulation or decision of the European Commission, or such
information available with incomplete or incorrect information,
n) divides part of the profit after tax in contravention of this Act,
o) fail to fulfil one of the reporting obligations under section 2 c of paragraph 1. 3,
p) gives the performance of the holders of the instruments included in the cooperative capital
unions in breach of article. 28, 51 63 or regulation of the European Parliament and
Council Regulation (EU) no 575/2013, or
q) allows the person which does not satisfy the requirements of this Act to a Member
the Board of Directors, of the Audit Commission, the Commission or the credit cooperative
unions, to become or remain a member of this body.
(3) the Credit Union is guilty of an administrative offense, by
and fails to provide an annual report) does not submit it together with the annual financial
statements for approval by the membership meeting within 6 months after the end of the accounting
the period in which it is carried out, or an approved annual report
the Czech National Bank does not send within 10 days of its approval (section 6 (1).
6),
(b)) shall provide the persons referred to in § 7 para. 1 credit under more favourable
conditions than are the conditions under which it provides loans to others its
Members (section 7 (1)),
(c)) does not in the annual report data on the provision of loans to persons referred to in
§ 7 para. 1 in accordance with section 7 (2). 4,
d) Česká národní banka to deliver within 10 working days from the date of the election
Member credit unions a request for assessment of the conditions for the exercise of
his features, including documents certifying compliance with these conditions (§ 7
paragraph. 7),
e) acquires a claim bound condition of subordination in violation of § 1
paragraph. 5 (b). (e)),
f) fails to notify the selected auditor the Czech National Bank or new auditor
in the case that the auditor was originally designed by the Czech National Bank
rejected (article 8b, paragraph 3)
g) does not ensure that, in the case of recognition of a loss of membership meeting when
the approval of the proper accounts for payment of this loss decided in the
accordance with the provisions of § 9 para. 2,
(h)) does not calculate properly the contribution to the deposit insurance fund, or post
does not pay in a timely manner (para. 14),
I) does not redress the clearing in accordance with the provisions of section 13b of the paragraph. 1,
j) breach of the obligation of secrecy and protect against misuse
information about your member and of its stores with the cooperative záložnou (§ 25b)
does not provide the required information to) for the purposes of supervision on a consolidated
the basis of the information is incomplete or inadequate to the real
status, or fails to meet the deadline for their submission (section 25f)
l) does not present or does not provide the information or documents referred to in section 27 para.
1, 2, or 3, or the eighth section of the regulation of the European Parliament and of the Council (EU)
No 575/2013.
(4) an administrative offense shall be fined in the
and 2 0000 0000 Eur), in the case of an administrative offence under paragraph 3 (b). (f)), and)
or m),
(b) 5 0000 0000 Czk), in the case of an administrative offence referred to in paragraph 1 (b). (c)), and
paragraph. 3 (b). and) or (c)),
(c) 20 0000 0000 Czk), in the case of an administrative offence referred to in paragraph 1 (b). and)
(b)), (d)) to (n)) or under paragraph 3 (b). (b)), d), (e)), g), (h), (j))))
or l),
(d) the amount of the advantage, twice), in the case of an administrative offence
in accordance with paragraph 2 and committed him to a legal person; If it is not possible
unauthorized benefit figure, a fine of up to 10% of the net
the annual turnover for legal person immediately
the previous accounting period, which includes the items listed in the article. 316
European Parliament and Council Regulation (EU) no 575/2013
(e) the amount of the advantage, twice), in the case of an administrative offence
in accordance with paragraph 2 and committed to controlled entity; If it is not possible
unauthorized benefit figure, a fine of up to 10% of the net
the annual turnover of the consolidated financial statements of the controlling
person in the immediately preceding financial year.
section 27 c
Administrative offences of legal entities and natural persons-entrepreneurs
(1) a legal entity or individual entrepreneur is committed by the administrative
tort by
and increase its acquires or) by a qualified participation in cooperative savings bank
without the prior consent of the Czech National Bank pursuant to § 2b, paragraph 1. 3,
(b)) uses the sign "savings and credit cooperative" or "cooperative
Credit Union "or" credit cooperative "contrary to section 1 (1). 3,
c) initiates the activity that is subject to authorization under this Act, without
This authorization,
d) acquires control of cooperative Union without the prior consent of the Czech national
Bank pursuant to § 2b, paragraph 1. 3,
e) fail to comply with information requirements under section 2 c of paragraph 1. 3, or
(f)) in the application for approval under this Act or directly applicable
Regulation of the European Union governing the prudential requirements shall be
false information or length, material information necessary for assessing the
This request.
(2) a legal entity or individual entrepreneur as a person subject to
supervision of the Czech National Bank has committed the administrative offence by
fail to fulfil one of the obligations laid down by the inspection regulations.
(3) a legal entity or individual entrepreneur as an insolvency practitioner
credit unions have committed administrative offense by at the request of the United
National Bank to convene within 30 days of receipt of the request the membership meeting
credit unions solely for the purpose of proper approval of the financial statements
under section 5a paragraph 2. 4.
(4) a legal entity or individual entrepreneur, as a member of the consolidation
the whole, also is a member of the Credit Union, is guilty of an administrative
offense that fails to meet any of the requirements of the Czech National Bank pursuant to §
27F para. 2.
(5) an administrative offense shall be fined in the
1 0000 0000 Czk), in the case of an administrative offence under paragraph 4,
(b) 5 0000 0000 Czk), in the case of an administrative offence referred to in paragraph 2,
(c) Eur 10 0000 0000), in the case of an administrative offence referred to in paragraph 1 (b). and)
or (f)), or to paragraph 3,
(d) the amount of the advantage, twice), in the case of an administrative offence
referred to in paragraph 1 (b). b) to (e)), and committed to doing business the natural
the person; If it is not possible to determine the amount of the advantage, the
a fine of up to $ 130 0000 0000
(e) the amount of the advantage, twice), in the case of an administrative offence
referred to in paragraph 1 (b). b) to (e)), and committed to a legal person;
If it is not possible to determine the amount of the advantage, a fine of up to
the amount of 10% of the net annual turnover in the non-legal person
no previous accounting period, which includes the items listed
in the article. 316 European Parliament and Council Regulation (EU) no 575/2013
(f) the amount of the advantage, twice), in the case of an administrative offence
referred to in paragraph 1 (b). b) to (e)) and committed to controlled entity;
If it is not possible to determine the amount of the advantage, a fine of up to
the amount of 10% of the net annual turnover resulting from the consolidated
statements of the controlling entity for the immediately preceding financial year.
section 27 d
the title launched
(1) the financial holding person, person or a mixed financial holding
mixed holding a person committed an administrative offense, by
and) does the Board of Directors, the Audit Committee or the
credit the Commission meets the requirements under section 25f para. 7, or
b) contrary to section 25f para. 8 in advance does not inform the Czech National Bank on the
proposed changes to the Board of directors or the members of the Audit Committee
or does not submit the required documentation.
(2) an administrative offense shall be fined up to 10 0000 0000 CZK in the case of
administrative offence referred to in paragraph 1 (b). a) or (b)).
Common provisions
section 27e
(1) if the Czech National Bank, that there has been a breach of the laws,
the obligations for which the penalty may be imposed under this Act (hereinafter referred to as
"infringement"), it shall initiate proceedings to impose penalties, if the
based on the assessment of the detected infringement comes to the conclusion that the
is socially harmful. In the assessment of social harmfulness
the infringement is based on the Czech National Bank, in particular, the nature,
the severity, duration and effect of the infringement and any
the procedure of a person suspected of an infringement in removing his
the consequences. If the control is not to impose a sanction shall be brought about
the record in the file and the case is postponed. Decision to postpone things
does not issue.
(2) since the imposition of sanctions can be used in the decision of an administrative offence to refrain,
If the offender is sufficient to remedy the very discussion of the administrative
tort.
(3) a legal person for an administrative offence is not liable if he proves that
made every effort, that it was possible to require that the acts of unlawful
the negotiations.
(4) in determining the amount of the fine on a legal person shall take account of the seriousness of the
the administrative offense, in particular, the way a criminal offence and its consequences, and
the circumstances under which it was committed; where appropriate, taking into account also
and) the duration of the infringement,
(b)) the financial situation of the legal person,
(c)) the importance of the advantage of a legal entity, if it can be
lay down,
(d) loss caused by third parties) identified an infringement,
(e) the cooperation of the legal person) in proceedings for an administrative offense,
f) prior administrative offences of legal persons.
(5) the criteria for fixing the amount of the fines referred to in paragraph 4 shall apply
even when setting the amount of fines imposed for committing the offence of physical
to the person.
(6) responsibility for an administrative offense shall cease, if the Czech National Bank
about it did not initiate proceedings within 1 year from the date on which it became aware
but not later than 10 years from the day when it was committed.
(7) an infraction of a natural person cannot be discussed, if the Czech national
Bank on it did not initiate proceedings within 1 year from the date on which it
learned, but not later than 5 years from the day when it was committed.
(8) responsibility for the administrative offence, which occurred when the business
a natural person or in direct connection with it shall be subject to the provisions of
This law on liability of legal persons and sanctions.
§ 27ea
(1) administrative offences under this law in the first instance hearing
The Czech National Bank.
(2) the proceeds of the fines is the State budget revenue.
(3) the Czech National Bank without undue delay shall publish the final
the decision granted a fine manner allowing remote access.
(4) the Czech National Bank shall publish the decision without providing identification
information about the pokutované person, if publication would
and vis) was a person on the basis of an assessment of the
considered as manifestly disproportionate,
b) jeopardise the stability of the financial market,
(c) endanger the ongoing criminal proceedings),
(d)) the person concerned has caused disproportionate damage.
(5) the decision referred to in paragraph 3 or 4 shall be published at least once
period of 5 years. Personal data of natural persons concerned shall be published only for the time
necessary in accordance with the law governing the protection of personal
of the data.
section 27f
(1) a lack of in the activities of the person included in the consolidated Group,
that is not a cooperative záložnou, means the
and) violation of this Act, or to circumvent the specific laws,
regulations issued by the Czech National Bank and the legislation under section 2 g,
(b)) the implementation of the stores within the consolidated group or externally
in a way that harms the interests of the members of the credit unions, which is
included in the consolidated Group, or threatens its security, and
stability.
(2) if the Czech National Bank, shortcomings in the activities of the person included
in the consolidated entity, that is not a cooperative záložnou, which may
adversely affect the management of the credit unions, which is part of the
the consolidated Group, is entitled to in relation to the controlling person under the
the nature of the observed lack of
and) require that jumped into the correction within the time limit,
(b) ensure extraordinary audit) requires a person who is part of the
the consolidated Group, at the expense of the controlling entity,
(c)) prohibit or restrict the execution of operations with persons who are part of the
the same consolidated Group.
section 28
Measures to remedy the
(1) the Czech National Bank can a person subject to its oversight
the lack of findings in her activities as a result of a violation of or failure to
the obligations or conditions established by this Act, the legislation it
implementing, decisions made under this Act, the General measures
nature issued pursuant to this Act, a directly applicable regulation
The European Union governing the prudential requirements and regulation, or
European Commission decision to impose measures to remedy the identified
the lack of corresponding to the nature of the breach and its severity. Measures to
the remedy can be saved also when you detect deficiencies on the basis of the results of the
the implementation of the review and evaluation referred to in § 21a.
(2) to remove the shortcomings identified can the Czech National Bank
and save that person) under its supervision
1. maintain capital above the minimum levels of capital requirements according to the
article. 92 of the European Parliament and of the Council (EC) no 575/2013 and
capital reserve requirements under this Act,
2. improve the arrangements, strategies, processes, and other mechanisms, so that
restore or enhance their compliance with this law, legislation
implementing this law, decisions or measures of a general nature
issued pursuant to this Act, a directly applicable regulation in the European Union
governing the prudential requirements, regulations or decisions
The European Commission,
3. submit a plan to restore compliance with the requirements of the Czech National Bank
under this Act, and directly applicable European Union law
governing the prudential requirements and implemented it in a specified
the term,
4. apply specific policies and procedures for creation of adjustments
the assets and reserves or for determining capital requirements
5. limit, or do not carry out some of the shops, the operation or
the activity, which means excessive risk to the Credit Union,
6. limited distribution network, including a possible reduction in the number of business
places,
7. reduce the risks associated with its activities, products or systems,
8. limit the variable remuneration of the persons referred to in Section 7a of the paragraph. 1 (b).
and, if paragraph 4) is not in accordance with the maintenance of capital; in such a
the case will determine the amount of the variable component of the Credit Union as a percentage of
the net profit,
9. profit after tax used to replenish the reserve funds or
to increase the share capital,
10. limit the distribution of profits or get in the way of profits to members or holders of
tier 1 instruments referred to in article. 51 the European regulation
Parliament and of the Council (EU) no 575/2013; If this ban is not a
failure to comply with the obligations of that person,
11. remove the deficiency within a prescribed period and in the activities of the
its repetition,
12. capital within the prescribed period to the specified amount if
does not follow a combined capital reserve under section 8aa para. 1, and the Czech
the National Bank did not approve the plan to restore the capital
(b) additional or more frequent) reporting, including information
about capital and liquidity positions,
c) save special requirements for liquidity, including the restriction of non-compliance
the maturity of assets and liabilities, taking into account the specific model
business credit unions, to layout, procedures and mechanisms
credit unions, in particular under section 7A(1). 1 (b). (b)) and to the system
liquidity risk that threatens the unity of the Czech financial market
Republic,
(d) the additional disclosure of information),
(e) impose more stringent restrictions on the distribution of) profit after tax which under section 8aa
paragraph. 4 If the Czech National Bank approved a plan to restore
capital,
f) save other appropriate corrective measures.
(3) the Czech National Bank may impose measures referred to in paragraph 2 (a). and)
paragraph 1, in particular
and the arrangement of the deficiencies), strategies, procedures, or other
mechanisms of management and control system governed by this law,
legislation implementing it, failure to comply with requirements under article. 393
European Parliament and Council Regulation (EU) no 575/2013 or shortcomings
in strategies or practices pursuant to section 8a of the paragraph. 1, or in their
the application of,
(b)) the risks or the risk elements not subject to the capital requirements
provided for in this Act or directly applicable provisions of the European Union
governing the prudential requirements,
(c)) the imposition of measures pursuant to paragraph 2 (a). and) section 2, points 5 and 6 points
8-10, paragraph 2 (a). (c)) or measures under paragraph 4 (b). a) to
(f)) appears to be insufficient to achieve a remedy within a reasonable time,
(d)), it is likely that the failure to comply with the requirements regarding the use of
the corresponding access will result in lack of capital
requirements,
(e)), it is likely that, while compliance with the requirements provided for in this
law or directly applicable European Union legislation governing
prudential requirements, risks will be underestimated,
(f)) the Credit Union shall notify the United National Bank pursuant to article. paragraph 377. 5
European Parliament and Council Regulation (EU) no 575/2013, that the results of the
stress tests need capital, which significantly
exceeds its capital requirement for covering trading portfolio
correlations.
(4) the Czech National Bank can a person subject to its supervision, which
has received consent to use internal access or an internal model to calculate the
capital requirements under part III of the regulation of the European Parliament
and Council Regulation (EU) no 575/2013, but does not meet the requirements for its use,
and save to) demonstrate that non-compliance with the requirements for internal access
or the internal model is irrelevant,
(b)), to present a plan to save to restore compliance with the requirements of the
internal access and a deadline for its implementation,
c) save modifications to carry out a plan to restore compliance with the requirements of the
internal access or internal model and set a deadline for the implementation of
These adjustments, if unlikely, that according to the original plan will be
achieved full compliance, or the period referred to in the original plan are
inappropriate,
(d) consent to) limit the areas that meet the specified requirements or
which can be used to achieve compliance within the time limit,
e) withdraw consent to use internal access or internal
the model, which requires the consent, if it is unlikely that a cooperative
the Credit Union will be able to restore consistency within the appropriate time limits, or
has not demonstrated that the discrepancy is minor, or
(f)) to withdraw consent to the use of the internal market risk model or
impose appropriate measures to ensure its immediate improvement if u
the internal model suggests a large number of overshoot referred to in article 12(2). 366
European Parliament and Council Regulation (EU) no 575/2013, the model is not
sufficiently precise,
g) impose other appropriate measures.
(5) in the event of a shortcoming in the activities of the persons subject to its
the Czech National Bank supervision
and save to this) person
1. replaced the Board of Directors, Member of the Audit Committee or other
the responsible natural person
2. convene a membership meeting and this meeting will discuss with the Czech
the National Bank fixed the matter or proposal,
3. create an appropriate amount of provisions and reserves,
4. reduce or increase capital within the specified range,
(b)) may decide to limit or ban certain approved activities
credit unions up to 120 days, and that includes treatment of depositors with the
their deposits; treatment of depositors with their deposits for the purposes of
This Act means any disposition with a deposit,
(c) permit the exclusion of or) change by restricting certain activities in the
referred to,
(d) an extraordinary audit) required at the expense of the credit unions,
e) require convening a meeting at the expense of the credit unions and determine
some of the points on the agenda of this meeting,
f) prohibit or restrict the execution of operations with persons that are linked
close links with the cooperative záložnou or which are part of the
the same consolidated Group as a credit union or have to
cooperative savings bank a special relationship,
g) Save to increase liquidity credit unions for at least the amount of the
set by the Czech National Bank,
(h)) to withdraw the consent to use internal access for the calculation
capital requirement under part III of the regulation of the European Parliament
and Council Regulation (EU) no 575/2013.
(6) the Czech National Bank can save to a natural person or legal entity
not subject to its supervision, which has failed to fulfil an obligation imposed by this
by law, legislation implementing it, by a decision issued pursuant to
This law, directly applicable EU regulation governing the
prudential requirements or regulations or decisions of the European
the Commission to refrain from the infringement and its
recurrence; The Czech National Bank may also
temporarily disable) member of the Board or of the Supervisory Commission
the credit unions or other responsible person in
cooperative savings bank or the exercise of a function in another cooperative savings bank,
(b) to publish information about it), that person is responsible for the unlawful
negotiations and what is its nature.
(7) the Czech National Bank may impose corrective measures referred to in paragraphs 2
up to 4, paragraph 5 (b). (h)) and paragraph 6 also if it has reasonable grounds for
the suspicion that the lack of activity in the course of the next 12 may
months to occur.
section 28a
(1) the Czech National Bank is entitled to
and the conduct of the authorities) participate in other legal entities that are closely
linked to the cooperative záložnou,
(b) in the exercise of supervision) to enter into the premises of the person who is closely
linked with the cooperative záložnou, and require the submission of documents and
explanations related to the subject of the inspection.
(2) a participant in the proceedings for the imposition of measures to remedy is the only person
to be measures to remedy saved.
(3) proceedings may be initiated by issuing the decision.
(4) the person to whom the Czech National Bank imposed a corrective measures,
the Czech National Bank informs about redress without undue
delay.
(5) against the decision to impose remedial measures can be made.
The decomposition does not have suspensory effect. On the decomposition of the Bank Board decides the United
the National Bank.
§ 28aa
(1) the Czech National Bank without undue delay shall publish the final
the decision to impose remedial measures in a manner allowing remote
access.
(2) the Czech National Bank shall publish the decision without providing identification
information about the person, that corrective measures have been saved, if
the publication of the
and vis) was a person on the basis of an assessment of the
considered as manifestly disproportionate,
b) jeopardise the stability of the financial market,
(c) endanger the ongoing criminal proceedings),
(d)) the person concerned has caused disproportionate damage.
(3) the decision referred to in paragraph 1 or 2, shall be published at least once
period of 5 years. Personal data of natural persons concerned shall be published only for the time
necessary in accordance with the law governing the protection of personal
of the data.
section 28ab
In the event that the Board of directors or the Audit Commission found that
the Credit Union is or becomes insolvent or that the
the Credit Union they incurred or to be incurred losses
have caused or may cause a decrease in the total capital ratio
credit unions under the minimum level of the overall capital ratio
According to the article. 92 para. 1 (b). (c)) the European Parliament and of the Council
Regulation (EU) no 575/2013, it shall inform without delay the Czech National Bank.
the title launched
§ 28b
The Czech National Bank will issue measures of a general nature, if they are filled with
conditions laid down in article 4(1). 458 of regulation the European Parliament and of the Council (EU)
No 575/2013.
section 28 c
cancelled
section 28 d
cancelled
section 28e
cancelled
section 28f
cancelled
The withdrawal of authorisation or consent
section 28 g
(1) the persistence of serious shortcomings in the activities of credit unions
Authorisation shall be withdrawn by the Czech National Bank.
(2) the authorisation may be withdrawn if the
and the Credit Union has not begun a business) within 12 months from the date of grant
authorisation, or for 6 months does not accept deposits from, or members
does not provide loans,
(b)) in the activities of credit unions has been identified the lack of activity,
that would at the same time could fill the characters of the administrative offense under section 27b
paragraph. 2 (a). a), d), (f)), g), (h)), i), (j)), k), (l)), m), o), p, q)) or §
27 c of paragraph 1. 1 (b). (e)),
(c)) the applicant in the application for the permit stated false information or concealed
the essential information necessary for the assessment of this application,
(d) the cooperative savings bank) against the final decision has been issued for
a serious breach of the law governing the measures against money laundering
crime and the financing of terrorism, or
(e)) the Credit Union does not meet the requirements laid down in part three,
the fourth or the sixth European Parliament and Council Regulation (EU) No.
575/2013, § 28 para. 2 (a). and) point 1 or § 28 para. 2 (a). (c)).
(3) the Czech National Bank shall withdraw an authorization if it finds that the total
capital ratio credit unions on an individual basis is less
than one third of the total capital ratio according to art. 92 para. 1
(a). c) European Parliament and Council Regulation (EC) no 575/2013.
(4) the authorisation shall expire on the date of entry of the change also the legal form of a cooperative
Savings Bank joint-stock company in the commercial register in accordance with section 13 of the
paragraph. 5.
(5) the Czech National Bank may withdraw the consent given under this
the law, if the consent was granted based on false information or
the applicant in the application for consent to the concealed material information necessary
for the assessment of this application.
section 28 h
(1) in its decision to withdraw an authorization under section 28 g shall be the date on
which the authorisation is to be withdrawn.
(2) from the date of the decision for the withdrawal not cooperative
the Credit Union to receive deposits and provide loans and engage in other activities,
with the exception of those that are necessary for the settlement of its claims and the
debt. Until this legal person settles its claims and
debts, it is considered a cooperative Union under this Act.
section 28i
(1) the Czech National Bank publishes manner allowing remote access
and valid) laws and regulations, governing the rules of prudent
business credit unions on an individual and consolidated
basis, and the official communication from the Czech National Bank to them; This does not
without prejudice to the provisions of the special law on the method of announcement
legislation,
(b) information about how usage) option or the discretion of the
Member States and their supervisory authorities in the European Union law
legislation under (a)),
(c)) for information about accessing the Czech National Bank and the methods used in the
supervision of credit unions under section 21a,
d) summary statistics about the performance of prudential rules
credit unions in the Czech Republic, including the number and nature of
corrective measures or penalties adopted in accordance with this Act,
e) for information about accessing the Czech National Bank and the methods used in the
supervision of compliance with the rules for the transfer of the risks referred to in article. 405
up to 409 European Parliament and Council Regulation (EU) no 575/2013
(f) the annual report on the outcome of) the performance of supervision of compliance with the rules for
the transfer of the risks referred to in article. 405 through 409 of the European Parliament and of the Council
Regulation (EU) no 575/2013, including the imposition of measures,
g) information about the change of the competent supervisory authority over the Group of the European
the financial holding of the person under section 25 d of paragraph 1. 8 and 9.
(2) the information referred to in paragraph 1, the Czech National Bank publishes
manner allowing remote access so that you can compare with the
information of the same kind which are listed by the supervisory authorities in other
Member States, and is regularly updated.
§ 28j
If the Czech National Bank decided pursuant to article. 7 (2). 3 of regulation
The European Parliament and of the Council (EU) no 575/2013, publish a manner
allowing remote access
and the criteria that apply) to determine whether there are, or
foreseen material practical or legal impediment to the prompt
transfer of own funds or repayment of liabilities,
(b)) the number of persons that use the option provided for in article 4(1). 7
paragraph. 3 European Parliament and Council Regulation (EU) no 575/2013, and the number of
persons, which include the controlled person in a non-member
State,
c) collectively for the Czech Republic
1. the total amount of own funds of persons on a consolidated basis
using the option provided for in article 4(1). 7 (2). 3 regulation of the European
Parliament and of the Council (EU) no 575/2013, which are held in the controlled persons
in a non-Member State,
2. the percentage of total own funds of persons on the
a consolidated basis using the option provided for in article 4(1). 7 (2). 3
European Parliament and Council Regulation (EU) no 575/2013, which are held
in the controlled persons other than the Member State
3. the percentage of total own funds under article. 92 the regulation
The European Parliament and of the Council (EU) no 575/2013 persons on
a consolidated basis using the option provided for in article 4(1). 7 (2). 3
European Parliament and Council Regulation (EU) no 575/2013, which are held
in the controlled persons other than the Member State.
§ 28 k
If the Czech National Bank decided pursuant to article. 9. 1 of regulation
The European Parliament and of the Council (EU) no 575/2013, publish a manner
allowing remote access
and the criteria that apply) to determine whether there are, or
No material practical or legal impediments to
immediate transfer of own funds or repayment of liabilities,
(b)) the number of persons that use the option provided for in article 4(1). 9
paragraph. 1 European Parliament and Council Regulation (EU) no 575/2013, and the number of
persons, which include the controlled person in a non-member
State,
c) collectively for the Czech Republic
1. the total amount of own funds of persons using the options
laid down in article 4(1). 9. 1 European Parliament and Council Regulation (EU) No.
575/2013, which are held in the controlled persons other than the Member
State,
2. the percentage of total capital ruled by people
using the option provided for in article 4(1). 9. 1 regulation of the European
Parliament and of the Council (EU) no 575/2013, which are held in the controlled persons
in a non-Member State,
3. the percentage of total own funds under article. 92 the regulation
The European Parliament and of the Council (EU) no 575/2013 persons
using the option provided for in article 4(1). 9. 1 regulation of the European
Parliament and of the Council (EU) no 575/2013, which are held in the controlled persons
in a non-Member State.
PART II
section 29
The Czech National Council Act No. 586/1992 Coll., on income taxes, as amended by
Act No. 35/1993 Coll., Act No. 96/1993 Coll., Act No. 156/1993 Coll.,
Act No. 196/1993 Coll., Act No. 323/1993 Coll., Act No. 42/1994 Coll.
Act No. 114/1994 Coll., Act No. 266/1994 Coll. and Act No. 31/1995 Coll.,
is added as follows:
1. in section 19 para. at the end of paragraph 1, the period is replaced by a comma and
the following point (m)), including notes no. 18 c) is added:
"m) income savings and credit cooperatives ^ 18 c) from interest and other
proceeds of deposits with the bank.
18 c) Act No. 87/1995 Coll., on savings and credit cooperatives and
some related measures and law No.
586/1992 Coll., on income taxes, as amended. ".
2. § 36 odst. 2 (a). (b)) at the end of section 3, the attached these words:
"in addition to the interest and other income from deposits, savings received and
úvěrním team from its members, who are at the same time its
employees. ".
PART III
Transitional and final provisions
section 30
The credit unions to the Czech National Bank information obligation
under the specific legislation. ^ 20)
section 31
(1) within one month from the date of registration of the Fund in the commercial register is
the Credit Union shall pay into the account of the Fund half of the
expected contribution for 1996. To 30. April 1997, the post
cleared between cooperative záložnou and the Fund to the amount of the contribution of the calculated
According to § 16 para. 1.
(2) the Minister of Finance shall appoint the members of the Board for the first time after the creation of the Fund
at least the first ten credit unions.
(3) when the first appointments of members of the Fund shall be appointed by the Minister
two members of the finance for one year, two members for two years, and the President and
Vice-Chairman for three years.
§ 32
(1) the Minister of Finance shall appoint a Director for the first time no later than one year
from the effectiveness of this Act.
(2) in the calendar year of the appointment of the Director shall provide to the State for the operation of
The Office of the repayable financial assistance. This year, the fees of cooperative
unions, pursuant to section 26 paragraph 1. 4 do not increase.
(3) until the creation of the Office, the provisions of § 2 (2). 3 does not apply.
section 32a
Information provided in § 7b para. 5 (b). ) to c) publish a Credit Union
for the first time by 1 April 2005. September 2014 for the immediately preceding financial
the period and under the conditions and in the manner specified in § 7b.
§ 32b
Information provided in § 7b para. 5 (b). d) to (f)) to provide internationally designed
Global systemically important institutions for the first time by 1 April 2005. September 2014 for the
immediately preceding financial year to the European Commission, in
the scheme to confidential information and subject to the conditions and in the manner specified in § 7b.
section 32 c
(1) For the purposes of § 8ag para. 3 and 4 to 31. December 2014 instead of rates 5
% It's the rate of 3%.
(2) For the purposes of § 8ar makes capital reserve for a global systemically
important institutions for the year
2016 25%) of the capital reserve provided for by § 8ar,
b) 2017 50% of capital reserve provided for by § 8ar,
c) 2018 75% of capital reserve provided for by § 8ar.
§ 32d
(1) the Czech National Bank may provide for measures of a general nature conditions
the criteria, requirements or procedures referred to in article 14(2). paragraph 124. 4 (b). and), art.
paragraph 150. 3, art. paragraph 153. 9, art. paragraph 181. 3 (b). and), art. paragraph 182. 4
(a). and), art. 197 paragraph. 8, art. 221 para. 9, art. 312 paragraph 1. 4 (b). (b)), and
(c)), article. paragraph 316. 3, art. paragraph 318. 3, art. 363 para. 4 (b). a) and (c)),
article. paragraph 382. 4 (b). and), art. 426, article. 440 paragraph. 2 and article. 443 regulation
The European Parliament and of the Council (EU) no 575/2013.
(2) a draft of the measures of a general nature shall be published only on the official Board
The Czech National Bank. Held a public hearing to the proposal of measures
the general nature of the Czech National Bank, will announce the time and place of the holding of the
the notice board of the Czech National Bank.
(3) the measures of a general nature shall enter into force on the date of its publication in the official
the Czech National Bank Board.
(4) measures of a general nature Against issued may submit written
reasoned objections only credit unions, within 10
working days from the date of its publication. Lodged objections shall discharge the United
the National Bank of the notice. Submitted objections may take advantage of the Czech National Bank
as a basis for the amendment or cancellation of the issued measures of a general nature.
§ 33
This Act shall take effect on 1 January 2000. January 1996.
Uhde in r.
Havel, v. r.
Klaus r.
Selected provisions of the novel
Article IV of the Act No 100/2000 Sb.
1. the procedure for cancellation or liquidation of the credit unions, as well as the management of the
The Office in connection with the performance of the supervision of credit unions,
initiated prior to the effective date of this Act, shall be completed by
the existing legislation.
2. the authority shall grant a permit without restrictions or exclusions of activities under this
law within 30 days of the effectiveness of this law to all cooperative unions,
incurred before the effective date of this Act, and on the basis of the written
the request of the Board. Credit unions, whose Board of Directors
the period of 15 days from the effective date of this Act, have not made a request for the grant of
the authorisation shall be repealed on the expiry of the closing date provided for in the first
the sentence.
3. Credit unions to bring their conditions into line with the provisions of
This law within 3 months from the effectiveness of this Act.
4. the Office shall be entitled to first after the expiration of 3 months from the grant of authorisation
initiate proceedings with the cooperative záložnou for the withdrawal. This is not a
without prejudice to the authority to initiate other proceedings against the cooperative savings bank
under this Act.
5. An enrollee share capital pursuant to the provisions of section 2 (2). 2 are
credit unions are required to achieve within one year from the effective date of
of this Act.
6. On the date of entry into force of this Act, the term of all
the Board of Directors of the Fund appointed a member of the Board of Directors
The Fund before the entry into force of this Act. Within 7 days from the date of acquisition
the effectiveness of this Act, the Director of the Office shall appoint the members of the Board
The Fund, one Member for 1 year, one Member for 2 years and the President of the
the Board of Directors for 3 years.
7. Credit unions are required to terminate their holdings in the
legal entities within 18 months from the entry into force of this Act.
8. the Administration, which has been imposed on the Credit Union before
the effectiveness of this law, shall be carried out under this Act.
9. Pending the conclusion of equity credit unions in
the controlled persons is entitled to carry out inspection activities and
the management of these people. During the inspection shall apply mutatis mutandis the provisions of §
23 para. 1 and section 27 para. 1. If a person refuses to be checked when
check the release requested information and documents or is in default of
their release or prevent entry to the areas controlled by the person or
is in default of allowing entry, the Office is entitled to impose
a controlled person a fine up to Czk 10 0000 0000; in doing so, it
mutatis mutandis, the provisions of section 28.
Article II of Act No. 406/2001 Sb.
Transitional and final provisions
If the conditions given by this Act for entitlement to compensation for
the insured deposit has already been completed before the effective date of this Act and is entitled to
compensation for the insured deposit did not arise, the legal relations as follows
established under this Act. This is without prejudice to the provisions of § 18 para.
1 and 2. Claim beneficiaries against the cooperative savings bank pursuant to this
the Act reduces, if not happened before the effective date of this Act,
an amount equal to its right to compensation from the Fund on the date of effectiveness of the
of this Act. To this day, the Fund becomes a creditor to credit unions
of the rights of the beneficiaries of the Fund. In the case of compensation for
the insured deposit denominated in currency other than United under this Act shall
conversion to Czech currency exchange rates according to
The Czech National Bank on the date on which about 7 working days preceding the
the effectiveness of this Act.
Article II of Act No. 212/2002 Sb.
Transitional provisions
1. the provisions of this law shall apply to legal relationships arising
prior to the effective date of this Act. Eligible persons who have
the entitlement to compensation for the insured deposit ("refund") according to the
the current legislation, shall refund the amount laid down by this
the law, while the payment of the refund, the refund paid shall take account of
According to the existing legislation. Additionally, authorized persons, that are
lenders of the credit unions, which is the effective date of this
law, bankruptcy proceedings, or were from the creditor claims against the
cooperative savings bank, that the effective date of this Act to lapse after
fulfillment of the resolution shall be entitled to payment of compensation for the fulfilment of the
the conditions referred to in points 2 to 4.
2. If the assets of the credit unions was declared bankrupt and the date
the effectiveness of this law have not yet been released by the scheduling order,
Enter hedge fund credit unions (hereinafter referred to as "the Fund") on the date of
the effectiveness of this law to the creditors ' rights of the persons concerned to the extent
corresponding to the right of that person to the payment of the refund. About this fact
the Fund shall inform without delay the bankruptcy administrator. In the case of
When the authorized person have his claim in the bankruptcy proceedings,
the Fund is up to 6 months from the effectiveness of this law shall be entitled to subscribe
claim arising from the entry of the Fund to the creditor rights warranted
of the person; who is logged on to this claim into account, and if already
the review meeting, it is considered that the claim was detected. If you already
the beneficiary has received a refund calculated in accordance with the existing regulations,
This amount shall be deducted from the compensation calculated in accordance with this Act.
3. If the assets of the credit unions was declared bankrupt and the date
the effectiveness of this law was released by the scheduling order, but so far
prevent the extinction of the credit unions, shall enter the effective date of the Fund
of this Act to the creditors ' rights of the beneficiaries, which according to the
rozvrhového resolution will not be met, to the extent appropriate
the entitlement of that person to the payment of compensation for the guaranteed deposit. If you already
the beneficiary has received a refund calculated in accordance with the existing regulations,
This amount shall be deducted from the compensation calculated in accordance with this Act.
4. If, before the effective date of this Act to the demise of the cooperative
previous thrift after the fulfillment of the resolution, has, for the purposes
the calculation of the compensation for the guaranteed deposit for the claims of legitimate
people persist in the extent to which were met from the timesheet. Fund
creditors of such claims shall be paid compensation under this Act. When
determine the amount of the refund shall be paid by the compensation already paid
According to the existing legislation, and the extent of satisfaction of the creditor of the
rozvrhového resolution and subsequently the calculated refund shall be reduced by the
the amounts. To this end, the Fund is entitled to request the competent court
a copy of a final resolution of the rozvrhového. The Court such a resolution at the
the request of the Fund.
Article II of Act No. 283/2004 Coll.
Transitional provisions
1. Credit unions to bring their ratios in accordance with law No.
87/1995 Coll., on savings and credit cooperatives and some
measures related to it and the law of the Czech National Council
No. 586/1992 Coll., on income taxes, as amended in
the text of this Act (hereinafter referred to as "the Act"), within 6 months from the date of
entry into force of this Act, unless this Act provides otherwise.
2. Credit unions that arose prior to the effective date of this
Act, or the credit unions, which have been granted an authorisation before
the effective date of this Act but which, before the date of the acquisition of
the effectiveness of this law have been avoided, or credit unions, which have been
granted the authorization referred to in section 3, are required to achieve the amount of capital
pursuant to section 8 (2). 1 of this Act, within 12 months from the date of entry into force of
This Act, however, at the latest at the date of the accession treaty
The Czech Republic to the European Union enters into force. After a period of 6 months from the date of
When credit unions are required to achieve the amount of capital referred to in
the preceding sentence, shall not be considered a lack of in the business of the cooperative
unions, formed, or which have been granted before the date of
entry into force of this Act, a violation of § 8 para. 1. After this period for
These credit unions are also not taken into account section 13 paragraph 1. 1 (b). (b)).
The authority shall withdraw the authorization of a cooperative savings bank, which within three months of
the deadline according to the previous sentence proves to the Office that has a capital in
the amount under § 8 para. 1 of this Act.
3. the procedure for granting authorisations, initiated before the date of entry into force of
This Act shall be completed according to the existing legislation. Range
activities laid down in the authorizations granted shall not exceed the scope of
the authorization referred to in section 5.
4. other proceedings initiated before the date of entry into force of this Act shall be
completes in accordance with the existing legislation, unless otherwise provided by this law
otherwise.
5. On the date of entry into force of this Act is amended permits issued by the authority
before the date of entry into force of this Act so that the credit unions
authorised to carry out activities pursuant to § 3 (2). 1 (b). a), b), (d)), and
§ 3 para. 2 (a). ) to c) of Act No. 87/1995 Coll., on savings and
credit cooperatives and certain related measures and
supplementing the Act of the Czech National Council No. 586/1992 Coll., on income taxes,
in the wording of later regulations, as amended by this Act. Within one month
from the effective date of this Act, the authority on its own initiative
cooperative savings bank with according to the existing legal authorisation by the
the regulations permit authorizing Cooperative Union to undertake activities
According to § 3 (2). 1 (b). a), b), (d) and article 3, paragraph 3). 2 (a). a) to (c)), and (e))
under this law, limited to the acquisition of government bonds and
the bonds, which took over the State guarantee of the bonds, the issuer
the Czech National Bank, mortgage bonds, municipal
bonds and bonds issued by the central banks of the Member States of the OECD,
that took over these States. The date of acquisition of legal power to enable
under this Act terminates the authorization granted under the existing legal
regulations.
6. The receivership, which was introduced in the cooperative savings bank prior to the date
entry into force of this law, shall be carried out under this Act.
7. If the Office granted the cooperative savings bank before the date of entry into force of this
Act consent pursuant to § 3 (2). 2 (a). (g)) of Act No. 87/1995 Coll., on
savings and credit cooperatives and some measures with the
related and the addition of the Czech National Council Act No. 586/1992 Coll., on the
income taxes, as amended by later regulations, as amended by Act No.
100/2000 Coll., the Credit Union is authorized to exercise the activities referred to in
This consent to the expiry of the period laid down in the decision of the authority, not more than
However, within 24 months from the date of entry into force of this Act.
8. If the commencement of payments, in the case of payment of compensation to the beneficiaries,
determined on the day preceding the effective date of this Act,
proceed in the payment of compensation in accordance with the existing legislation.
9. Ceases to have membership in the cooperative savings bank before the date of entry into force of
This Act, the settlement amount shall be granted in accordance with the existing laws,
regulations.
10. the amount of the contribution to the Fund, the Credit Union is required to
pay no later than 30.04.2004, shall be 0.5% of the average volume of deposits
converted on the basis of quarterly status of insured deposits.
11. In the Cooperative Union, for a period of 6 months from the date of entry into force of
This Act does not apply a ban to be controlled according to § 1 (1). 9.
12. If the natural person who, before the entry into force of this Act in the
cooperative savings bank has deposited funds (hereinafter referred to as "stored
means ") and has taken legal steps towards membership in
cooperative savings bank, do not qualify for compensation from the Fund, there is this
person, the heirs or the surviving spouse entitled to compensation from the Fund
When piece measures pursuant to § 18 para. 2, as amended by the existing legislation. For
this purpose expenses deposited funds are considered insured
deposit and a natural person, the heirs or the surviving spouse shall be deemed to
by an authorized person. The effective date of this Act decreases the claim
an authorized person an amount equal to its right to compensation from the Fund.
To this day, the Fund becomes a creditor credit unions of the rights
eligible persons for the performance of the Fund. For the calculation of compensation shall be
It shall apply the provisions of section 18, in the texts of existing legislation, and when
the calculation of the amount shall be based on the status of the deposited funds authorized
the person at the date when the claim first could be by an authorized person.
The Board of Directors, liquidator or receiver of a cooperative
unions, for which the beneficiary was entitled in accordance with this provision,
are required to communicate to the Fund information under section 17a. 1 relating to
an authorized person under this provision, within 60 days of the effective date
the effectiveness of this Act. Failure to comply with this obligation, the Office may save
obliged entities to a fine up to 100 000 CZK.
section 42 of Act No. 377/2005 Sb.
Transitional provision
The Credit Union is within 6 months from the date of entry into force of this
the law of the Czech National Bank shall provide all the data for the needs of
information database according to the law on banks.
Article. XV of law No 57/2006 Sb.
Transitional provisions
1. pending the issue of the relevant implementing legislation Czech
National Bank pursuant to Act No. 87/1995 Coll., on credit unions
cooperatives and certain related measures and
the Czech National Council Act No. 586/1992 Coll., on income taxes, as amended by
effective from the date of entry into force of this Act, shall remain in force
detailed legal rules issued by the Ministry on the basis of Act No.
87/1995 Coll., on savings and credit cooperatives and some
measures related to it and the law of the Czech National Council
No. 586/1992 Coll., on income tax, in the version in force before the date of application
the effectiveness of this Act (hereinafter referred to as "the text of the law on
savings and credit cooperatives "), except that where such detailed
the legislation speaks of the Office for the supervision of credit unions,
It is understood by the Czech National Bank. The Czech National Bank is entitled to
to issue a decree that cancels the decree issued by the Ministry according to the
the existing wording of the law on savings and credit cooperatives.
2. Pending such a measure providing for the Czech National Bank
capital adequacy of credit unions shall be withdrawn by the Czech National Bank
authorisation as a savings and credit cooperative (hereinafter referred to as
"Credit Union"), if it finds that the capital adequacy ratio
credit unions is less than one third of the proportion provided for
Decree of the Ministry.
3. On the date of entry into force of this Act shall cease to exist, the Office for the supervision of
credit unions (hereinafter referred to as "the authority"). The current scope of the Office
under the laws and other legislation of the passes on the day of acquisition
the effectiveness of this Act from the Office of the Czech National Bank. The obligations, rights,
and duties of the Office of the property and other legal relationships
are turning to the effective date of this Act from the Office of the
National Bank, unless otherwise provided by this Act. Budgetary resources
The Office intended to fulfil the commitments and obligations set out in this provision
are turning to the effective date of this Act on the Czech national
the pot.
4. the Administration and liquidation of credit unions which began before the date of
entry into force of this law shall be completed in accordance with the existing laws,
regulations. Power to the Office in the process of administration and disposal of passes
the effective date of this Act on the Czech National Bank.
5. Persons who have been obliged to maintain confidentiality according to present
regulations, have this duty even after the entry into force of this Act.
6. On the date of entry into force of this Act are transferred to the hedge fund
credit unions (hereinafter referred to as "the Fund") claim the authority and obligations of the authority
against the State arising in connection with financial-from the
provided by the Office in accordance with the existing legislation.
7. On the date of entry into force of this Act shall become the Czech National Bank
instead of the Office of the party to the proceedings, in which he appears as a participant in the Office,
with the exception of proceedings related to the claims of the authority referred to in point 6
is a participant in the proceedings becomes the Fund. Financial commitments on
the basis of such proceedings incurred by the Czech National Bank, will pay the State.
8. the proceedings initiated in connection with the performance of the supervision of credit
unions before the date of entry into force of this Act completes the Czech
the National Bank according to the existing legislation, unless otherwise specified in this
the law provides otherwise.
9. the decision in administrative procedure, issued by the Office shall be deemed to
the decision issued by the Czech National Bank. If such a decision was
a fine, which has not yet been paid, when you select and
enforcement shall be treated according to law No. 87/1995 Coll., on savings and
credit cooperatives and certain related measures and
supplementing the Act of the Czech National Council No. 586/1992 Coll., on income taxes,
in the version in force from the date of entry into force of this Act.
10. If before the date of entry into force of this Act, the decision
The authority against which the appeal is brought, shall decide on the appeal
the Ministry according to the existing legislation. If the Ministry of
such decisions of the Office shall cancel and thing return for reconsideration,
This new discussion of relevant Czech National Bank, which will decide
According to the existing legislation. Management and recovery in review
the proceeding concerning these decisions shall be decided by the date of entry into force of
of this Act, the Czech National Bank according to the existing legislation.
11. On the date of entry into force of this Act shall terminate immediately the power of attorney granted by the
By the authority.
12. If it was determined the day of commencement of payments of refunds prior to the date of acquisition
the effectiveness of this law, shall proceed in completing the payment of Compensation Fund
According to the existing legislation. There was a prior to the date of acquisition
the effectiveness of this law the fact pursuant to § 17 para. 1 or paragraph 2. 4
the existing wording of the law on savings and credit cooperatives, or
If the Credit Union before the date of entry into force of this Act
cancelled with the liquidation proceeds in determining the date of commencement of payments
compensation, the claim for compensation for the insured person and in the payment of the deposit
refunds provided for in the existing text of the law on credit unions
cooperatives. Law Office pursuant to § 17 para. 2 and § 19 of the current text of the
the Act on savings and credit cooperatives is exercised by the Czech national
the Bank. The Czech National Bank shall notify the Fund to fulfil its obligations under § 17a
paragraph. 1 the existing text of the Act on savings and credit cooperatives.
Failure to comply with obligations under section 17a. 1 the existing text of the law on
savings and credit cooperatives can save, Czech National Bank
obliged entities according to the existing legislation a fine up to
100 000, even repeatedly.
13. the obligation of credit unions to make contributions to the Fund for the year 2006
does not arise. Credit Union deposit insurance fund contributions for the
full year 2006. When calculating the amount of the contribution to the deposit insurance fund for
in 2006, the provisions of Act No. 87/1995 Coll., on credit unions
cooperatives and certain related measures and
the Czech National Council Act No. 586/1992 Coll., on income taxes, as amended by
effective from the date of entry into force of this Act are used also for the period of the year
2006 preceding the effective date of this Act. The provisions of the
This section does not apply to credit unions, for which there was a
the fact pursuant to § 17 para. 1 or paragraph 2. 4 of the present law
savings and credit cooperatives, or which have been abolished with the liquidation
before the date of entry into force of this Act.
14. Credit unions, which are not covered by the provisions of section 13,
be paid to their demise posts Fund of the text of the law on
savings and credit cooperatives in the amount of 0.15% of the average volume of
covered deposits according to the existing law on savings and
credit cooperatives. On credit unions under this section shall
It does not apply to section 14 of Act No. 87/1995 Coll., on credit unions
cooperatives and certain related measures and
the Czech National Council Act No. 586/1992 Coll., on income taxes, as amended by
effective from the date of entry into force of this Act.
15. unless otherwise provided for in this Act, shall apply to the Fund
the text of the law on savings and credit cooperatives. The Chairman and the
the other members of the Board of Directors of the Fund appointed and recalled by the Minister of finance.
The provisions of § 15 para. 3 of the earlier version of the law on savings and
credit cooperatives shall not apply. The Fund rules are issued by the Board of directors after
prior consent of the Ministry. The annual budget of the Fund and its proper
financial statements approved by the Ministry. The Fund is required to provide verification
their ordinary financial statements auditor or audit firm.
16. If the Office issued a decision pursuant to § 27a of the earlier wording to section 27 c
the Act on savings and credit cooperatives and this decision takes
legal power, is a fine income fund.
Article IV of Act No. 120/2007 Sb.
Transitional provisions
1. Until 31 December 2006. in December 2007, the Credit Union does not apply to section 8a of the Act
No 87/1995 Coll., on savings and credit cooperatives and some
measures related to it and the law of the Czech National Council
No. 586/1992 Coll., on income tax, in the version in force from the date of acquisition
the effectiveness of this law, if after this period of time the Credit Union uses
for the calculation of capital requirements, the basic approach of the corresponding
the current capital adequacy rules, whose terms of use
establishes the Czech National Bank by decree under section 8 (2). 9 of Act No.
87/1995 Coll., on savings and credit cooperatives and some
measures related to it and the law of the Czech National Council
No. 586/1992 Coll., on income tax, in the version in force from the date of acquisition
the effectiveness of this Act. For use of this basic approach
for the calculation of capital requirements does not perform to the Czech National Bank
This cooperative savings bank review and evaluation pursuant to § 22 para. 8
Act No. 87/1995 Coll., on savings and credit cooperatives and some
measures related to it and the law of the Czech National Council
No. 586/1992 Coll., on income tax, in the version in force from the date of acquisition
the effectiveness of this Act.
2. the procedure for the issue of consent with the terms of the subordinated debt, launched
before the date of entry into force of this Act pursuant to section 8 (2). 4 (b). I)
Act No. 87/1995 Coll., on savings and credit cooperatives and some
measures related to it and the law of the Czech National Council
No. 586/1992 Coll., on income taxes, as amended in
the version in force until the date of entry into force of this law shall be completed in accordance with
the existing legislation.
3. rights and obligations arising from the decision of the Czech National Bank
on approval of the conditions of the subordinated debt under § 8 para. 4 (b). I)
Act No. 87/1995 Coll., on savings and credit cooperatives and some
measures related to it and the law of the Czech National Council
No. 586/1992 Coll., on income taxes, as amended in
the version in force until the date of entry into force of this Act issued prior to the date
entry into force of this Act are not affected.
4. the authorization referred to in section 3, paragraph 3. 1 (b). e) of Act No. 87/1995
Coll., on savings and credit cooperatives and some measures with the
related and the addition of the Czech National Council Act No. 586/1992 Coll., on the
income taxes, as amended by later regulations, in the version in force until the date of
the effectiveness of this law, shall be deemed authorized to practice in accordance with § 3
paragraph. 1 (b). e) of Act No. 87/1995 Coll., on credit unions
cooperatives and certain related measures and
the Czech National Council Act No. 586/1992 Coll., on income taxes, as amended by
amended, in the version in force from the effective date of this Act.
5. Authorized to practice in accordance with § 3 (1). 1 (b). h) Act No. 87/1995
Coll., on savings and credit cooperatives and some measures with the
related and the addition of the Czech National Council Act No. 586/1992 Coll., on the
income taxes, as amended by later regulations, in the version in force until the date of
the effectiveness of this law, shall be deemed authorized to practice in accordance with § 3
paragraph. 1 (b). h) Act No. 87/1995 Coll., on credit unions
cooperatives and certain related measures and
the Czech National Council Act No. 586/1992 Coll., on income taxes, as amended by
amended, in the version in force from the effective date of this Act.
6. verification of the system referred to in section 8b paragraph. 1 (b). b) of Act No. 87/1995 Coll., on
savings and credit cooperatives and some measures with the
related and the addition of the Czech National Council Act No. 586/1992 Coll., on the
income taxes, as amended by later regulations, in the version in force from the date of
entry into force of this Act, the Credit Union shall ensure for the first time
the year 2007. The provisions of § 8b paragraph. 2 and 3 of law No. 87/1995 Coll., on
savings and credit cooperatives and some measures with the
related and the addition of the Czech National Council Act No. 586/1992 Coll., on the
income taxes, as amended by later regulations, in the version in force from the date of
entry into force of this Act, are not affected.
Article. XI of Act No. 230/2009 Sb.
Transitional provisions
1. consent to the acquisition or increase of a qualifying holding in the cooperative
the savings bank or with its dominating granted pursuant to Act No. 87/1995 Coll., on
savings and credit cooperatives and some measures with the
related and the addition of the Czech National Council Act No. 586/1992 Coll., on the
income tax Act, as amended, (hereinafter referred to as "the law of
savings and credit cooperatives "), in the version in force before the date of application
the effectiveness of this law, shall be deemed to consent to the acquisition or increase of
qualified participation in the cooperative savings bank or its mastering by
the Act on savings and credit cooperatives, in the version in force from the date of
entry into force of this Act.
2. consent to the acquisition or increase of a qualifying holding so that it reaches the
or exceeds 20%, but does not reach or exceed 33% of the cooperative
the savings bank granted under the law on savings and credit cooperatives, in
the version in force until the date of entry into force of this Act shall be deemed to
consent to increase a qualifying holding so that it reaches or exceeds
20% under the Act on savings and credit cooperatives, as amended by
effective from the date of entry into force of this Act, if the person or persons
acting in concert does not increase before the date of entry into force of this Act
on the basis of this consent the qualified participation in cooperative savings bank
so it reached or exceeded 30%. If this person or these persons
acting in concert were increased prior to the effective date of this Act to the
the basis of the consent granted before the date of entry into force of this Act
qualified participation in cooperative savings bank, that has or
exceeded 30%, shall be deemed to consent to an increase in qualified
participation in a way that reaches or exceeds 30% according to the law on savings and
credit cooperatives, in the version in force from the date of entry into force of this
the law.
3. the procedure for the imposition of corrective measures or sanctions, launched
to the date of entry into force of this law shall be completed in accordance with existing
legislation. Measures to remedy or penalty is saved by
the existing legislation.
4. The negotiations which have taken place until the date of entry into force of this Act,
be assessed according to the existing legislation. Measures to remedy or
penalties for violations of the existing legislation is saved under the Act
the savings and credit cooperatives, in the version in force before the date of application
the effectiveness of this Act.
5. the procedure for giving consent to the acquisition or increase of qualifying
participation in the cooperative savings bank or with its dominating initiated to date
entry into force of this law shall be completed in accordance with the Act on savings and
credit cooperatives, in the version in force from the date of entry into force of this
the law; period, which began before the date of entry into force of this
the law, running from the date of entry into force of this Act again.
6. the procedure for giving consent to insertion of another Member of the deposit according to the
§ 4 b paragraph 1. 3 of the Act on savings and credit cooperatives, as amended by
effective until the date of entry into force of this Act, initiated by the date of acquisition
the effectiveness of this law, shall be completed pursuant to the Act on savings and
credit cooperatives, in the version in force until the date of entry into force of this
the law; period, which began under the Act on savings and
credit cooperatives, in the version in force until the date of entry into force of this
the law, running from the date of entry into force of this Act again. In the case of
that the deposit by inserting another Member will take a qualifying holding
on the cooperative savings bank or increase your qualified participation in
cooperative savings bank so that it reaches the shares set out in § 2b, paragraph 1. 3
the Act on savings and credit cooperatives, in the version in force from the date of
entry into force of this Act, the consent of the Czech National Bank
awarded in this proceeding also for consent under section 2b, paragraph 1. 3 of the law on
savings and credit cooperatives, in the version in force from the date of acquisition
the effectiveness of this Act.
7. Claim credit unions against the debtor due to reimburse
obligations arising before the effective date of this Act is a cooperative
a credit union shall be entitled to unilaterally against the interest of the deposit, the deposits
and the debtor's share of the settlement.
Article. VII of Act No. 160/2010 Sb.
Transitional provision
Savings and credit cooperative shall ensure compliance with the obligations laid down in section 8
paragraph. 10 Act No 87/1995 Coll., on savings and credit cooperatives and
some related measures and the addition of the Czech law
the National Council No. 586/1992 Coll., on income taxes, as amended
regulations, in the version in force from the date of entry into force of this Act,
at the latest by 7. December 2010. In the meantime, for the calculation of the
capital requirements to use the credit rating of the debtor
drawn up by a person who was at the date of entry into force of this Act
included in a list of agencies for credit assessment led by the Czech
National Bank pursuant to Act No. 21/1992 Coll., on banks, in the version in force
to the effective date of this Act.
Article. (IV) Act No. 41/2007 Sb.
Transitional provisions
1. If the period provided for in § 25 k of paragraph 1. 3 of Act No. 87/1995 Coll., on
savings and credit cooperatives and some measures with the
related and the addition of the Czech National Council Act No. 586/1992 Coll., on the
income tax, in the version in force from the date of entry into force of this
the act begins to run until 31 December 2006. December 2012 shall be 6 months.
2. for a period of five years from the date of entry of the change of legal form of a cooperative
Savings Bank joint-stock company in the commercial register cannot be used
the procedure under § 183i to 183n commercial code.
3. a credit union shall ensure that the remuneration paid to the persons referred to in
Article III, section 4 of the date of entry into force of this Act are in line
with the provisions of this Act governing the remuneration system.
Article. (IV) the Act No. 254/2009 Sb.
Transitional provisions
1. Savings and credit cooperative, which was granted license to operate
such as savings and credit cooperative to the date of entry into force of this
the law is considered a savings and credit cooperative pursuant to § 1 (1). 2
Act No. 87/1995 Coll., in the version in force from the date of entry into force of this
the law.
2. the authorisation for activities under section 3 (1). 1 (b). a) and b) of law No.
87/1995 Coll., in the version in force until the date of entry into force of this Act,
be construed as authorization for activities under section 1 (1). 2 (a). a) and b) of the Act
No 87/1995 Coll., in the version in force from the date of entry into force of this
the law. Authorisation for activities under section 3 (1). 1 (b). (c))) to (i) Act No.
87/1995 Coll., in the version in force until the date of entry into force of this Act,
be construed as authorization for activities under section 3 (1). 1 (b). a) to (g))
Act No. 87/1995 Coll., in the version in force from the date of entry into force of this
the law.
Article. VI of Act No. 135/2014 Sb.
Transitional provisions
(1) the Credit Union is required to ensure compliance with the requirements
laid down in section 7aa para. 2 (a). (c)) and section 7aa para. 4 of Act No 87/1995
Coll., in the version in force from the date of entry into force of this Act, to a 1.
July 2014.
(2) the procedure for the imposition of corrective measures or proceedings for the imposition of penalties
initiated into the effective date of this Act, and to this day
Finally completes the executor according to the existing legislation.
Corrective measures or sanctions are saved according to the existing legal
regulations.
Article. (II) Act No. 333/2014 Sb.
Transitional provisions
1. In the Cooperative Union, which submits a request for consent to the change of the legal
forms of joint-stock company according to § 13 para. 5 of law No 87/1995 Coll.
as amended, and which at the same time must lodge an application for the grant of
banking licence under Section 4a of the Act No. 21/1992 Coll., on banks, as amended by
amended, within 12 months from the date of entry into force of this
the law does not apply the provisions on the minimum amount of capital referred to in
section 4, paragraph 4. 1 of law No 21/1992 Coll., as amended. In
this case, to consent to the change of the legal form and to grant
banking licence under Section 4a of the Act No. 21/1992 Coll., as amended
legislation requires registered capital amounting to the equivalent of at least
5 0000 0000 euros. The Credit Union at the same time as the request for banking
the license, to be filed within the time limit under the first sentence, shall be subject to the approval of the United
National Bank of real five-year plan to increase the share capital from
the time of the granting of a banking licence; the plan does not put forward in the case that its
the capital is at least Eur 500 0000 0000. Failure to comply with plan to increase
share capital approved the Czech National Bank or non-compliance with
the conditions under which this plan has been approved, the lack of activity in the
under the law governing the activity of the bank.
2. on the Bank caused by a change in the legal form of credit unions in accordance with section
1, for a period of 5 years from the date of the grant of a banking licence does not apply
provisions on the minimum amount of share capital pursuant to § 4 paragraph 2. 1
Act No. 21/1992 Coll., as amended; the amount of the
the capital of this Bank, however, must not fall below the amount equivalent to 5 000
000. The Czech National Bank, the Bank shall withdraw the licence if it finds
that the Bank nenavýšila its share capital up to the amount referred to in paragraph 4 of the
paragraph. 1 of law No 21/1992 Coll., as amended, to 5 years
from the date of the grant of banking license, unless the Bank in receivership.
3. the activities referred to in section 3, paragraph 3. 5 of law No 87/1995 Coll., as amended by
effective before the date of entry into force of this law, pursued in
under contracts concluded before the date of entry into force of this Act, is
the Credit Union shall end not later than 31 December 2006. December 2017.
Obligations under such contracts shall expire not later than 31 December 2006. December 2017, unless
the subject of these commitments becomes a member of the credit unions.
4. A member of the Credit Union shall indicate the amount of its share of capital
in accordance with the statutes of the credit unions within the time limit specified in the following
the articles of Association; the amount of capital, however, must achieve at least
1 EUR at the date of entry into force of article. I, point 3. If this obligation is not
fulfilled, membership in the cooperative savings bank and the related deposits and
loans must be settled no later than 31 December 2006. December 2020; by the time of
the settlement cannot be deposits increase with the exception attributed to interest and loans
increase beyond the original contractual terms.
5. The provisions of § 3 para. 4 second sentence of the Act No 87/1995 Coll., as amended by
effective from 1 January 2005. July 2015, shall not apply in relation to the summary of deposits
associated with the interest or equivalent benefit which the member submitted to
credit unions 1. July 2015, the date when the
extension of the maturity of these deposits or increase; in doing so,
připisovaným interest shall be disregarded. Such a summary of deposits from 1.
January 2018 applies the provisions of § 3 para. 4 second sentence of the Act No 87/1995
Coll., in the version in force from 1 January. July 2015, in the event that the aggregate
paid-up of capital and contributed another Member
deposit member credit unions may not exceed $ 2,000. It shall apply to
Summary of deposits member credit unions referred to in the first sentence limits
According to § 3 (2). 4 second sentence of the Act No 87/1995 Coll., in the version in force from
on July 1, 2015, does not belong to a member credit unions interest or similar
the advantage of the part of the summary of deposits, which exceeds the defined limit.
1) European Parliament and Council Directive 94/19/EC of 30 March 2004. may
1994 on deposit guarantee schemes, as amended by the directive of the European
Parliament and Council Directive 2005/1/EC and 2009/14/EC.
European Parliament and Council Directive 2001/24/EC of 4 April 2003. April 2001 on the
reorganisation and winding up of credit institutions.
European Parliament and Council Directive 2006/49/EC of 14 July 1999. June 2006
on the capital adequacy of investment firms and credit institutions
(recast), as amended by the directive of the European Parliament and of the Council
2008/23/EC, 2009/27/EC and 2009/111/EC.
European Parliament and Council Directive 2007/44/EC of 5 July 2004. September 2007,
amending Council Directive 92/49/EEC and directives 2002/83/EC,
2004/39/EC, 2005/68/EC and 2006/48/EC as regards procedural rules and
the evaluation criteria for the prudential assessment of acquisitions and increase of
participation in the financial sector.
European Parliament and Council directive 2009/111/EC of 16 December 2002. September 2009,
amending Directive 2006/48/EC, 2006/49/EC and 2007/64/EC as regards the
banks affiliated to central institutions, certain own funds items,
large exposures, supervisory arrangements, and crisis management.
European Parliament and Council directive 2010/76/EU of 24 October. November
2010 amending Directive 2006/48/EC and 2006/49/EC as regards the
capital requirements for the trading book and for re-securitisations, and the supervisory
14.12.2010.
European Parliament and Council directive 2010/78/EU of 24 October. November
2010, amending Directive 98/26/EC, 2002/87/EC, 2003/6/EC,
2003/41/EC, 2003/71/EC, 2004/39/EC, 2004/109/EC, 2005/60/EC,
2006/48/EC, 2006/49/EC, and 2009/65/EC with regard to the competence of the European
supervisory authority (European banking authority), the authority
supervision (European insurance and occupational pensions
insurance) and the European supervisory authority (European securities
Securities and markets).
Directive of the European Parliament and of the Council of 26 May/36/EU June
2013 on approach to the activities of credit institutions and the prudential
supervision of credit institutions and investment firms, and amending
Directive 2002/87/EC and repealing directives 2006/48/EC and 2006/49/EC.
2) Act No 455/1991 Coll., on trades (trade licensing
Act), as amended.
3) Act No. 190/2004 Coll. on bonds, as amended.
3A) Act No. 563/1991 Coll., on accounting, as amended.
3B) § 1 (1). 1 and 3 of Act No. 21/1992 Coll., on banks, as amended by law
No 16/1998 Coll., Act No. 167/1998 Coll., Act No. 126/2002 Coll. and act
No 257/2004 Coll.
3 c) Law No. 377/2005 Coll., on the supplementary supervision of banks,
spořitelními and úvěrními associations, electronic money institutions,
insurance companies and securities dealers in financial conglomerates and
amending certain other acts (the Act on the financial conglomerates directive).
3D) § 31 para. 4 (b). b) of Act No. 513/1991 Coll., the commercial code.
3E) Law No. 124/2002 Coll., on transfers of funds,
electronic means of payment and payment systems (law on
payment system).
3 g) Act No. 408/2010 Coll., on financial collateral arrangements.
5A) Act No. 328/1991 Coll., on bankruptcy and settlement, as amended
regulations.
10A) Act No. 254/2000 Coll. on Auditors and amending Act No. 165/1998
Coll., as amended.
10B) § 10 para. 1 of Act No. 143/2001 Coll., on the protection of
competition.
12) section 12b of paragraph 1. 1 of law No 21/1992 Coll., on banks, as amended by Act No.
160/2010 Sb.
12A) Act No. 21/1992 Coll., on banks, as amended.
17) section 41a to 41o Act No. 21/1992 Coll., on banks, as amended by Act No.
156/1994 Coll., Act No. 83/1995 Coll., Act No. 167/1998 Coll., Act No.
320/2001 Coll., Act No. 120/2002 Coll., Act No. 296/2007 Coll., Act No.
433/2008 Coll., Act No. 285/2008 Coll. and Act No. 156/2010 Sb.
17A) § 41 para. 2 (a). a) of law No 21/1992 Coll., on banks, as amended by
Act No. 156/2010 Sb.
18A) the civil code.
18 c) Act No. 412/2005 Coll., on the protection of classified information and on the
Security eligibility.
20 of the code of civil procedure).
21) Act No. 141/1961 Coll., on criminal court proceedings (code of criminal procedure), in
as amended.
22) Law No 120/2001 Coll., on judicial executors and enforcement activities
(enforcement procedure) and amending other acts, as amended.
23) Act No. 101/2000 Coll., on the protection of personal data and on amendments to certain
laws, as amended.
24) Act No. 21/1992 Coll., on banks, as amended.
Act No. 363/1999 Coll., on insurance and amending certain
related acts (the Insurance Act), as amended
regulations.
26) Law No 6/1993 Coll. on Česká národní banka, as amended
regulations.
27) Article. 131 of Directive 2006/48/EC on access to the activities of credit
institutions and on its performance.
27) Article. 115 directive of the European Parliament and the Council for the 2013/36/EU.
28) Act No. 82/1998 Coll., on liability for damage caused in the performance of
of public authority by a decision or incorrect official procedure and amending
the Czech National Council Act No. 357/1992 Coll., on the notarial profession and their activities
(the notarial regulations), as amended.
29) Decree No. 123/2007 Coll., on rules of prudent business bank,
savings and credit co-operatives and securities traders, in
as amended.
34) European Parliament and Council Regulation (EU) no 1092/2010 of 24.
November 2010 on Community macro prudential oversight of the financial system
the level of the European Union and establishing a European systemic risk Board.
Article 35). 112 European Parliament and Council Directive 2013/36/EU.
Article 36). 113 directive of the European Parliament and the Council for the 2013/36/EU.
37) § 44 of Act No. 93/2009 Coll. on Auditors and amendment to certain laws
(Act on Auditors), as amended by Act No. 139/2011 Sb.
38) European Parliament and Council Regulation (EU) no 575/2013 from 26 March.
June 2013 on prudential requirements for credit institutions and
investment firms and amending Regulation (EC) No 648/2012.
Article 39). 19 the European Parliament and of the Council Regulation (EU) no 1093/2010 of
24 September. November 2010 establishing a European supervisory authority (European
banking authority), amending Decision No 716/2009/EC and repealing
Commission decision 2009/78/EC.
40) Article. 4 (4). 1 paragraph 40 and article. paragraph 458. 1 regulation of the European
Parliament and of the Council (EU) no 575/2013.
41) Article. 6 directive of the European Parliament and of the Council no 2013/36/EU.
Article 42). 25 European Parliament and Council Regulation (EU) no 1093/2010 of
24 September. November 2010 establishing a European supervisory authority (European
banking authority), amending Decision No 716/2009/EC and repealing
Commission decision 2009/78/EC.
43) European Parliament and Council Regulation (EU) no 1094/2010 of 24.
November 2010 on the establishment of a European supervisory authority (European
insurance and occupational pensions), amending
decision No 716/2009/EC and repealing Commission decision 2009/79/EC
44) Article. 51 and 117 directive of the European Parliament and the Council for the 2013/36/EU.
