The Savings And Credit Cooperatives

Original Language Title: o spořitelních a úvěrních družstvech

Read the untranslated law here: https://portal.gov.cz/app/zakony/download?idBiblio=42904&nr=87~2F1995~20Sb.&ft=txt

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.