190/2004 Sb.
LAW
from day 1. April 2004
about bonds
Change: 378/2005 Sb.
Change: 56/2006 Sb.
Change: 57/2006 Sb.
Modified: 296/2007 Sb.
Change: 230/2008 Sb.
Change: 230/2009 Sb.
Change: 160/2010 Sb.
Change: 227/2009 Sb.
Change: 281/2009 Coll., 199/2010 sb.
Change: 355/2007 Sb.
Change: 172/2009 Sb.
Change: 227/Sb.
Change: 303/Sb.
Change: 137/2014 Sb.
Parliament has passed the following Act of the United States:
PART THE FIRST
BASIC PROVISIONS
TITLE I OF THE
INTRODUCTORY PROVISIONS
§ 1
The subject of the edit
This Act regulates the procedure for the issuance of the bonds regardless of,
who is the person who issues the bonds (the "issuer"), and some
further questions related to the bonds.
§ 2
Bond and bond issue
(1) a bond is a valuable paper or book-entry securities, issued by
Czech law, which carry the right to repayment of certain amounts due
corresponding to the nominal value of its issuer, at one time or
gradually to a specific point in time, and possibly other rights arising from the
law or of a bond issue conditions (hereinafter "terms and conditions").
(2) the bonds may only be fungible.
(3) a paper IOU is a valuable paper on the series. In a paper endorsement
the bond shall carry the identification of the acquirer.
(4) the emission of the bonds means bonds issued under
the same issue conditions and having the same issue and the same date of the moment
maturity. Bonds of the same issue with which they are associated to the same rights,
the same shall be assigned an identification mark in accordance with the international system
numbering to identify securities and uncertificated securities
Securities (ISIN), if allocated, or some other indication that identifies the
bond.
§ 3
The disclosure issue conditions
(1) the issuer may issue bonds only if they were not later than the
the date of their issue conditions available to investors on a carrier
information, which allows you to reproduce the issue conditions for investors in
unchanged and maintaining the issue conditions so that they can be
used at least until the date of maturity of those bonds.
(2) if at the date of the latest bond issue, published a prospectus
bonds (the "prospectus") and if they are on the same date at the latest on
the website of the issuer, be made available to their conditions,
disclosure on the information medium referred to in paragraph 1 is not required. In
that case, however, the issuer shall ensure that the conditions have been made available
on this website free of charge and in an unchanged form permanently
at least until the date of maturity of those bonds and should take the form of a data
file download in the commonly used format.
(3) if the owner of the bonds, the issuer will ask the
the obligation to provide free of charge a copy of the current emission
the terms of these bonds.
§ 4
List of owners
(1) the issuer maintains a list of owners of paper it issues bonds.
List of owners of book-entry bonds leads a person who is entitled to
to the management of records of dematerialized securities (hereinafter referred to as "the person
authorized to record "). The rights attaching to the bonds shall be entitled to
in relation to the issuer to exercise a person mentioned in these lists,
If a special law provides otherwise.
(2) the effectiveness of the conversion of the bond to the issuer the paper
requires registration of the change of the owner in the list referred to in paragraph 1, first sentence;
the issuer performs this registration without undue delay after he or she will
such a change is demonstrated. To the effectiveness of the transfer of book-entry bond
to the issuer is required to write about the change of the owner in the list referred to in
paragraph 1 second sentence.
§ 5
Types of bonds
Bonds issued by the same issuer, with whom are associated with the same rights,
consists of a single species.
§ 6
The elements of a bond
(1) a bond contains at least
and the designation of the "bond"), unless the mortgage sheet, State
Treasury voucher or postal order of the Czech National Bank,
(b) an indication of the type of bond), which can be used to indicate a reference to the emission
conditions, unless it is a bond that is not linked to any specific
right,
c) data identifying the issuer,
d) nominal value as the amount due; It is not required in the case of
the capture of a bond, if the nominal value of the write in the appropriate
Register,
(e)) yield of a bond, or an indication that revenue is determined by the difference between the
the nominal value of a bond and its lower IPO; or is it from
bond at least clear that the bond is no yield or where can I
How is the income specified, meet,
(f) the date or other time) repayment (hereinafter referred to as "due date")
the amount due (repayment of a bond),
g) data identifying the owner of the bond, unless it is a bond issued by a
as book-entry securities or the capture bond,
h) signature of the issuer, unless the bond issued as book-entry security
paper or capture bond,
I) numeric indication of the bond, unless the bond issued as
book-entry securities or the capture bond, and
(j)) of the date of issue.
(2) in the book-entry bond it shall be sufficient that the indications referred to in paragraph 1
(a). a) to (f)), and j) are ascertainable from the records of dematerialized
bonds.
(3) if it was issued the bulk bond, the bond is also an indication of the
how much and what type of bond is replaced by.
(4) for an assessment of whether the bond properly issued, does not affect whether
contains the elements referred to in paragraph 1 if it contains at least
the particulars referred to in paragraph 1 (b). c) to (h)), or where such
details of the detectable evidence of uncertificated securities;
paragraphs 2 and 3 are not affected.
§ 7
The total nominal value of the bond issue
(1) the issuer may issue bonds
and smaller overall) in the nominal value of the bond issue was
estimated total nominal value of the bond issue, if the
end of the period for the subscription could not be used to subscribe to the estimated total
the nominal value of the bond issue,
(b)) in the greater the total nominal value of the bond issue was
estimated total nominal value of the bond issue, even after
the closing date for subscription, if this option is listed in the emission
conditions, or
c) up to the forecast total nominal value of the bond issue and the
After the expiry of the period for the subscription, if this option is listed in the emission
conditions.
(2) if the issuer referred to in paragraph 1 (b). (b)), or (c)), and if it is not
a term specified for the subscription is sufficient, it shall designate an additional period for
subscription to that end no later than the day that is decisive for the
the repayment of the nominal value of the bonds of each payment or repayment of
the bond, and make it available in the same way as conditions.
(3) in the case of book-entered bonds or bond issuer collection
without undue delay after the expiry of the deadline for subscription shall notify the person of the
authorized to record the fact referred to in paragraph 1 and make it available
in the same way, which has made the conditions. In the case of emissions
municipal bonds, the issuer shall notify the fact referred to in paragraph 1 (b).
and also the Ministry of finances) (hereinafter referred to as "the Ministry").
(4) in the case of emissions of government bonds issued as book-entry
the bonds shall notify the Ministry of the fact referred to in paragraph 1 (b). (b)), and (c))
without undue delay, the person authorized to conduct the registration and
announce or publish it in the same way that declared or
published by the conditions.
(5) a statement of the estimated total nominal value of the bond issue
the issuer shall make available to investors, together with the conditions the way
which exposes these conditions.
TITLE II
TERMS AND CONDITIONS
the title launched
§ 8
Basic provisions
Conditions defined in more detail the rights and obligations of the issuer and
owners of the bonds, as well as information about the bond issue, even
by reference to the information contained in the prospectus.
§ 9
The requisites of issue conditions
(1) emission conditions always contain at least a reference to the information contained
in the prospectus
and) the facts referred to in § 6 (1). 1 (b). a) to (f)), and (j)),
(b)) an indication of whether it is a documentary or book-entry bond
(c)) the deadline for subscription of the bond issue,
d) emission rate, as appropriate, the method of its determination, and in the event that the emission
the course will be determined by the rate achieved in an auction, the auction method,
e) information about how is the yield of a bond, or that bond is
without yield,
f) how and where the subscription of the bond, method and period of transfer of the bonds
individual subscribers and how and where the reimbursement of the emission rate
subscribed bond,
g) information about how and where the bond is repaid,
h) data on the taxation of the yield of a bond,
I) data necessary to identify the persons who are involved in security
the release of the bond, the repayment of the bond and to payment of the proceeds of the bond, with a
an indication of how their participation in these activities,
j) identification marking the bond according to the international system
numbering to identify securities and uncertificated securities
the paper is distributed,
the meeting notification) the way owners of bonds, as well as
the owners of shares in the collection of the bond (the "holders ' meeting"), and
the method of disclosure and disclosure of other information about the bond,
l) information about who, when, and with what result was awarded the rating,
If this information is known to the issuer, and
m) specify the day, that is decisive for the participation in a meeting of the owners.
(2) the terms and conditions according to the intentions of the issuer Furthermore contain at least a reference
the information contained in the prospectus
and the choice of the issuer, that) bond issue will be within the time-limits for
subscription to the successive (tranches),
(b) the right of the issuer to follow) § 7 para. 1 (b). (b)) and the possible range
enlarge the total nominal value of the bond issue, or the right to
the issuer to proceed pursuant to § 7 para. 1 (b). (c)),
(c)) for information about how, when, how and where it should be paid to the yield of a bond,
If the yield determined by the difference between the nominal value of a bond and its
lower the emission rate,
(d)) as an indication that the repayment of the bond or payment of his revenue is
provided by a third party, and where the contract is concluded
ensuring accessible to investors,
e) details of the lien for the bond, which is repayment of the bond
or the payment of his revenue secured by pledge, and the way it will be
Lien claimed
(f) draw the bond method), which is associated with the bond,
that is losován,
g) indication of other rights that are associated with the bond,
h) indicate that an issuer has decided under section 17,
even) an indication that the information under this Act will be published and
made available in languages other than Czech,
j) an indication as to who will lead the dematerialized bonds and collection
bonds,
to) the choice of the issuer on the exclusion of the possibility to separate the right to
payment of the proceeds of the bond from the bond,
permission of the issuer to repay the l) bond before its date of maturity
including proportional yield, defining the conditions and the way early
repayment and outstanding value calculation method of unrecovered coupons
pursuant to section 19 para. 4,
m) bond to ask owner permissions to the repayment of the bond, where appropriate,
proportional yield before the due date and the definition of the conditions under which
He is entitled to do so,
n) the wording of the arbitration clause, they are to be disputes about rights and obligations
associated with the bond addressed in the arbitration proceedings,
about) for the removable of the bond method of notification date from which can be right
to exchange for another bond or other bonds or share or shares
to apply, and the place and the time limit for exercising that right; If they are
removable bonds issued as book-entry bonds, the day that
is decisive for the determination of the person entitled to exercise the rights of these
bonds,
p) for the priority of a bond the way notifications on which it can be right to
pre-emptive basis to apply, and the place and the time limit for the application of this
law; If bonds are issued as book-entry
bonds, a day that is decisive for the determination of the person entitled to exercise
the rights of these bonds,
q) for a child of a bond agreement that the amount corresponding to the rights of
associated with this bond will be satisfied after satisfaction of all
with the exception of other accounts receivable, accounts receivable, which are bound by the same
or a comparable condition of subordination in the case
1. the entry of the issuer into liquidation,
2. the decision of the bankruptcy of the issuer, or
3. If the issuer of a foreign person, whether or not other similar measures.
§ 10
Change of issue conditions
(1) a change of issue conditions, requires the prior approval of the meeting
owners.
(2) the consent of the holders ' meeting shall not be required
and) to change directly induced by changing legislation,
(b)) to change that does not affect the position or interests of the owners of the bonds,
or
(c)) in the event that none of the issued bonds, to which conditions
apply, is not owned by a person different from the issuer.
(3) the issuer without undue delay after the change of issue conditions
make available to investors which are made available to the emission
conditions, this change of issue conditions and full text of the issue conditions
After the change is made.
(4) an Investor who before making changes to the emission conditions, to
that requires the prior consent of owners, the meeting agreed to purchase
or with the subscription of bond and this bond still has not acquired ownership of
right, shall be entitled to withdraw from the purchase or subscription within 5 working
days after change of issue conditions is made available, unless the issuer
a longer period determined by the conditions.
§ 11
Bond program
(1) Common conditions for an unspecified number of bond issues
are referred to as bond program.
(2) the terms and conditions of the individual emissions within bond program
bond program and is considered to be a supplement for the debenture programme
the given issue.
(3) the bond program add-in contains at least
and replenishment requirements of emission conditions) under section 9, that are not
included in the bond program,
(b)) a link to the bond program, and information about where it can be
Learn about, and
(c) bond issue) specific conditions to which the add-in
bond program applies.
Doubts about the content of specific rights associated with the bond
§ 12
the title launched
(1) in case of doubt about the content of specific rights associated with
the bond, the Court may, on a proposal of the owner of the bond,
and decide what special right) is associated with the bond, if the
circumstances, it becomes clear that such a law expresses the will contained in emission
conditions or is this the will of its content, or
(b)) if it is not possible to proceed in accordance with point (a)) decide that the IOU
It is a bond that is not associated with a special law.
(2) the proceedings referred to in paragraph 1, pursuant to § 83 para. 2 (a). (d))
Code of civil procedure.
(3) the initiation of proceedings pursuant to paragraph 1, together with the mark
the designation of the competent court of the proceedings, and an indication of the subject of the dispute, the issuer
make available without undue delay after the commencement of proceedings on the same
the website, which has made the conditions, so that the
have been, mutatis mutandis, meet the requirements referred to in § 3 (1). 2 the second sentence, or
in a way, which has made the conditions. As well, the issuer shall make available
and the Court's decision in this matter with the guidance of the legal power.
(4) If a party to the proceedings referred to in paragraph 1 the natural person, the issuer of the
its personal data exposes only the name.
the title launched
section 13 of the
(1) if the Court decides in accordance with § 12 para. 1 (b). (b)), the owner of
the bond, which kind it was decided to request within one month from
the date on which the issuer has made the decision of the Court in accordance with § 12 para. 3,
of the issuer of the bond bought at a reasonable price, unless
doubt the obvious already at the time when the owner of the bond.
The issuer of a bond by the owner buys a bond within 15 working days from the
the date on which it was received at the conclusion of the contract.
(2) if the issuer fails to comply with the obligation laid down in paragraph 1 or
If the issuer chooses to make decision according to § 12 para. 1 (b). (b))
accordance with § 12 para. 3 the second sentence of one month from the date of its
, the owner of the bond may be eligible to claim the conclusion of
the contract in court or claim compensation for injury, and at the latest within a period of 6
months from the date on which the issuer was the conclusion of the contract. ".
§ 14
cancelled
TITLE III
THE RELEASE OF THE BOND AND ITS OWN BONDS ACQUIRED BY THE ISSUER
§ 15
The release of the bond
(1) the issue of the bonds, the issuer provides, or a person authorized by that
arrange the release of emissions or contractually agrees to become the first purchaser
emissions or parts thereof.
(2) issuance of bonds may be issued within the time limits for subscription and
increments (tranches), if this option is listed in the emission
conditions.
(3) if there is no issue of the bonds, the issuer is obliged, within 30 days after the date of
end of the period for subscription to return him and paid subscribers to the upsanou
the amount, including interest at the rate of weighted average repo rate of the Czech national
Bank for the period from the date of repayment.
(4) on the bonds that are entered when they are released first on the
the issuer's securities account in the register under a special legal regulation,
seen as properly issued by at the time of their registration on this account,
If they fulfil the other conditions laid down in this Act, or
other legislation for the issuance of bonds.
section 15a
Custom bonds
(1) own bonds acquired by the issuer before the date of maturity
do not expire, unless the issuer decides otherwise.
(2) the issuer does not Exchange or a priority right (section 33) associated with the
own bonds.
(3) own bonds acquired by the issuer shall expire on the date they fall due
or on the date specified by the issuer, if the due date is preceded by the.
(4) for the purposes of the provisions of this Act governing the meeting of owners of the
to own bonds in the possession of the issuer, be disregarded.
TITLE IV
THE YIELD OF A BOND, THE YIELD OF THE BOND PAYMENT AND REPAYMENT OF THE BOND
the title launched
section 16 of the
The yield of the bond
The yield of the bond can be determined, in particular,
and fixed-interest rate)
(b)) the difference between the nominal value of a bond and its lower emission
Exchange rate,
(c)) slosovatelnou premiums or premiums, depending on the maturity date
the bond, or
(d)), the variable interest rate, for example, derived from other interest
rates or interest income, exchange rate movements, financial indices or
commodity prices.
§ 17
The day of the repayment of the bond, and applicable to the payment of the proceeds of the bond
(1) if the issuer decided to determined by the conditions, that the right to repayment of the
the bond has a person who is entitled to exercise the rights associated with the
the bond to another day, than the due date of the bond, not as follows
the specified date prevent such due date of more than 30 days, or
follow after this date.
(2) paragraph 1 shall apply mutatis mutandis to the right to payment of the proceeds
the bond and the right to repayment of each payment bond.
section 18
The Department of Justice on the yield of the bond
(1) if the conditions do not exclude, it may be right to yield
a bond from the bond severed, and associated with the coupon as a valuable paper
or book-entry securities issued to exercise this right.
(2) the Coupon sheet to listinnému of the bond must be issued simultaneously with the
the release of the bond, with a separate coupon for each individual
yield; in the book-entry bond or capture bond pays
the provisions of the first sentence, as appropriate, for the entry in the records.
(3) on each of the coupons of the bond must be shown what the law is with
it, and the day that is decisive for the application of this law.
(4) If an identification mark assigned by bond
the international numbering system for the identification of securities and
book-entry securities must be this identification marking
allocated separately for
and) bond with coupons,
b) bond without coupons (hereinafter referred to as "separate capital"),
(c)) for each coupon bond.
(5) at the request of a person authorized to exercise the rights associated with the bond
makes a person authorized to record keeping
and the bond of the segregated) the allocation of principal and coupons, or
(b)) to reconnect separated with coupons if their owner
It is also the owner of a separate principal. The link may occur only
If the principal owner owns all the coupons, where
There was a day that is decisive for the application of the law with them.
§ 19
The repayment of the bond, and payment of the proceeds of the bond
(1) the maturity of the bond shall be determined in one lump sum at a specific date, or
payments, the amount of which shall be determined by the conditions.
(2) the issuer shall be entitled to pay off individual bonds, including the proportional
the proceeds before the date of maturity, only if the terms and conditions of this
the method of repayment is admitted and define the conditions for the early
maturity.
(3) the owner of a bond may demand repayment of the bond before the fixed
the due date only if the conditions this method of repayment
permitted, or if provided for by this law; If it is not apparent from the emission
conditions of something else can i pro-rata yield.
(4) if the repayment of the bond, must be with
Bond returned all of the coupons that are not yet due for payment. In
case to fulfil that obligation, the value of unrecovered coupons, intended
According to the emission conditions, shall be deducted.
(5) the right to the yield of a bond associated with the coupon, which for early
the repayment of the bond was not returned to the issuer, is maintained.
(6) the Repayment of the bond, and payment of the proceeds of the bond issuer may
perform alone or through a Bank, savings and credit
cooperative brokerage house, the postal service
or the person who is authorized under the law of a foreign State, according to which
It was founded, for the performance of similar activities as these persons and shall be entitled to
do business in the territory of the Czech Republic.
section 20
cancelled
TITLE V OF THE
MEETINGS OF OWNERS
the title launched
section 21
Basic provisions
(1) the issuer shall without undue delay shall convene a meeting of owners in the case of
and the design change of issue conditions), if the consent to the change in the
issue conditions require
(b) a proposal for the conversion of the issuer),
(c) proposal on conclusion of the contract) on the basis of experience available with the
commercial plant or its parts, regardless of the Contracting
the issuer is a party, provided that it may jeopardise the proper and timely
the repayment of the bond or the payment of the proceeds of the bond,
(d)) if it is in delay with satisfaction the rights associated with the issued
bonds for more than 7 days from the date on which the right could be exercised,
e) proposal on submission of application for the disposal of bonds from trading on
European regulated market or foreign markets similar to the regulated
market or in a multilateral trading system based on the operator's
Member State of the European Union or of a State representing the European
economic area (hereinafter referred to as "Member State"),
(f)) changes that can significantly impair its ability to meet the debts of the
arising from the bonds it issues,
g) other changes, which define the conditions,
(hereinafter referred to as "the fundamental nature of the changes").
(2) a meeting of owners shall be entitled to convene, if it is a case referred to in
paragraph 1, whether or not the owner of the bond and the owner of a share in the collection
Bond (hereinafter referred to as "the owner of the bond").
(3) the issuer is obliged to attend owners meetings and provide
information required for the decision or the adoption of the opinion of the meeting of the owners.
(4) if the issuer has issued more than one bond issue, the changes
in principle, except in the case referred to in paragraph 1 (b). and), to convene a
a meeting of the owners as a common meeting of the owners of all issued and
outstanding debt (hereinafter referred to as "the joint meeting of owners").
The provisions of § 21 of up to 24a shall apply to the joint meeting of the owners.
(5) a person authorized to record keeping issues the issuer upon request
extract from the register, the emissions of the bonds for the purpose of convening and holding of
meeting of the owners.
(6) If, under the legislation of a Member State reorganisation
or other comparable solutions bankruptcy of the issuer, the issuer may not meeting
owners convene.
(7) can be determined by the conditions the circuit changes the fundamental nature of those referred to in
paragraph 1 (b). (b) to (f)) Edit) by way of derogation.
§ 21a
A decisive day for the participation in a meeting of the owners
(1) the issuer shall designate for the owners of the bonds and for the owners of the shares in the
Bond collection day, that is decisive for their participation at the meeting
owners. This date cannot be earlier than the date of the meeting by more than 30
days.
(2) if the bonds admitted to trading on a regulated European
the market, on the foreign market, similar to a regulated market or in a
multilateral trading system operator established in a Member
State, is a day that is decisive for the participation in a meeting of the owners, always
the seventh day preceding the holding of the meeting of the owners.
section 22
(1) the Organizationally and technically meeting of owners provides and costs
United shall be borne by the person who convenes a meeting of owners (hereinafter referred to as the "convener"),
If this is not the case when the issuer has violated its obligation pursuant to § 21
paragraph. 1 and convene a meeting of owners instead of the issuer of the owner himself. In this
If they go the costs associated with meetings of the owners shall be payable by the issuer.
The costs associated with attendance at a meeting of owners shall be borne by the owner of the bond.
(2) the place, date and time of holding a meeting of owners shall be determined by
to minimize the possibility of bond owners to participate in the meetings of the
owners.
(3) the convener shall notify the owners ' meeting in the manner prescribed in
determined by the conditions, within a period of at least 15 days before the date of its
the venue. The notification contains at least
and) information about the issuer in accordance with § 6 para. 1 (b). (c)),
(b)), issue date of the bond name and identification marking referred to in
the international numbering system for the identification of securities and
book-entry securities, if assigned, or some other indication
identifying the bond; in the case of a joint meeting of owners of these data
of all the issued and outstanding issues
(c)) the place, date and hour of the meeting, owners
d) agenda, including a possible design change of issue conditions and
their rationale,
(e)) a day that is decisive for the participation in a meeting of the owners.
(4) if the meeting takes place on a proposal from the owners of the owner of the bond,
the issuer must provide it with the necessary cooperation.
(5) matters which have not been included in the proposed agenda
a meeting of owners, you can decide at that meeting only the participation and the
the consent of all owners of the bonds.
(6) fall away if the reason for calling the meeting of owners, it shall withdraw the convener
in the same way, which was convened.
Article 23 of the
The progress of meetings of owners
(1) the owners Meeting is quorate, if present
the owners of the bonds, whose nominal value represents the decisive
the date for participation at the meeting of the owners of more than 30% of the nominal value
the outstanding part of the bond issue. Joint meeting of owners is able to
a quorum, if owners of bonds participate in it, which
nominal value represents the date that is decisive for the participation in the
a meeting of the owners, more than 30% of the nominal value of the unpaid
each has not yet issued by emission. If it does not solve the problems common to all
emissions, it is necessary the participation of owners of 30% of the nominal value of the outstanding
part of those emissions, which are problems.
(2) If a meeting of owners, which has to decide on the change of issue
conditions, the quorum, the convener shall convene, if it is to continue to
necessary, replacement of the owners, so that the meeting took place within 6 weeks from the
the date on which the original holders ' meeting was convened. The venue of the replacement
meetings of owners with unchanged agenda shall be communicated to the owners
bonds not later than 15 days after the day on which the original was convened
meeting of the owners. Spare holders ' meeting is quorate, without
regardless of the conditions referred to in paragraph 1.
(3) prior to the start of the meeting of the owners is the convener must provide for
attend the meeting to check the information on the number of all bonds
eligible to participate in this meeting. Own bonds owned by the
of the issuer on a date which is decisive for the participation in a meeting of the owners for
the purpose of paragraphs 1 and 4.
(4) the holders ' Meeting decides by simple majority votes of the members present
owners of the bonds. The number of votes of each owner of the bond corresponds to the
its share in the total nominal value of the unpaid part of the issue
bonds. The change of issue conditions, for the bond program
or for the establishment and revocation of the joint representative of the owners of the bonds is
require the consent of three-quarters of the votes of the owners of the bonds.
(5) If a meeting of the owners agreed to changes in the fundamental nature,
can a person who was the owner of the bond on the date decisive for participation
at a meeting of owners, and according to the minutes of the meeting, voted against the proposal
or did not attend the meeting, ask for the early repayment of the nominal
the value of a bond, including the relative yield. If the yield determined by the difference
between the nominal value of a bond and its lower emission rate [section 16
(a). (b))], the issuer is obliged to repay the owners of bonds emission rate
and the relative yield. Request for early repayment shall be made within 30 days
Since the disclosure of the resolution of the meeting of the owners or of the joint meeting
owners referred to in paragraph 7. After the expiry of the right to repayment of the
ceases to exist. The issuer is obliged to pay this amount within 30 days from the delivery of
the application in the manner and on the site, which provides for the repayment of the bond
emission conditions.
(6) If a meeting of the owners with the changes the fundamental nature of those
in § 21 para. 1 (b). (b)) to (g)), at the same time may decide that if the
the issuer to proceed in violation of the resolution, is obliged to prematurely
to repay the bond owners who request it, their nominal
the value of including proportional yield; If the yield determined by the difference between the
the nominal value of a bond and its lower emission rate [section 16 (a).
(b))], the issuer is obliged to repay the owners of the bonds, at their request
emission rate and relative yield. The issuer is obliged to do so in the manner and
in a place which for the repayment of the bond conditions, set emission
no later than 30 days from the date of receipt of the request for early repayment.
(7) the convener shall draw up the minutes of the meeting of the owners within 30 days from the date of
the meeting. If the meeting were discussed by any of the major changes
the nature of the meeting shall be taken by a notarial deed. If the meeting
owners with any of those changes shall be agreed in notarial law
write the names of the owners of the bond, who agreed with the change, and
the number of pieces of bonds, each of those owners is the decisive
the date for participation at the meeting of owners (paragraph 1) on your property.
The issuer shall, within 30 days from the date of the meeting of the owners to publish
all decisions of the meeting of the owners, in a way, which was published in a
emission conditions.
section 24
The joint representative of the owners of the bonds
(1) meetings of the owners may by decision to establish common
representatives of all of the owners of the bonds (the "common representative").
Common representative is entitled to:
and) apply on behalf of all owners of rights associated with the bonds in
the scope as defined in the decision of the meeting of the owners,
(b)) to control emission conditions by the issuer,
(c)) do on behalf of all the owners of the bonds other tasks or otherwise
to protect their interests, in the manner and to the extent laid down in decision
meeting of the owners.
(2) the extent to which applies the rights associated with the common bonds
a representative of the owners, with the exception of voting rights, the owners cannot
bonds to exercise such rights individually. This does not affect the right of
meetings of the owners appealed to the common representative or specify another
the common representative.
(3) where a meeting of owners about the appeal of the common representative
joint representative cannot exercise voting rights attached to
bonds that they own, and its voting rights do not count towards
the total number of votes needed to ensure that the meeting was able to
a quorum.
(4) in the exercise of their functions is a common representative shall be obliged to negotiate with the
due care and in accordance with the interests of all the owners of the bonds, which he
they are or should be aware, and is bound by the instructions of the owners ' meeting. It
does not apply if such instructions are contrary to the legislation or if
require conduct which is not in accordance with the common interests of all
owners of the bonds.
(5) the joint representative shall notify before its provisions into the function owners
Bond facts that they could be relevant for the assessment,
whether there is a conflict of their interests to the interests of the common representative, or
such a clash is imminent. Before a common representative within the function
a meeting of owners in the decision also specifies how to proceed if the
conflict of interest the common representative to the interests of the owners of the bonds, or
If the threatening such a clash, after the provisions of the common representative in
function.
§ 24a
Participation in a meeting of the owners with the use of means of distance communication
(1) emission conditions may specify the conditions under which the authorized person
may participate in meetings of the owners by electronic means,
for example, allowing for the direct transmission of the meeting of the owners of the image and the
sound or direct two-way communication between meetings of the owners and
by an authorized person.
(2) the organizational and technical conditions must allow for verification of identity
the person entitled to attend a meeting of owners and determine the total shares
the nominal value of the outstanding part of the bond issue; otherwise, the votes of the
projeveným such a procedure or to participate the following voting owners
the bonds shall be disregarded.
(3) the owner of a bond that makes use of the right referred to in paragraph 1, shall
considered to be present at a meeting of owners.
PART TWO
SPECIAL CATEGORIES OF BONDS
TITLE I OF THE
GOVERNMENT BONDS AND BONDS ISSUED BY THE CZECH NATIONAL BANK
the title launched
§ 25
(1) Bonds issued by the Czech Republic, as well as similar securities
representing the right to repayment of the amount owed, which the Czech Republic
issued under the law of a foreign country, are government bonds. Czech
Republic may issue Government bonds in the Czech Republic and in the
abroad.
(2) Government bonds are issued on the basis of
a) Special Act on the State bond program, or
(b)) of the Special Act, which authorizes the Ministry to issue State
bonds or the issuance of government bonds.
(3) on the basis of a special law referred to in paragraph 2 may be issued,
single bond issue, with different conditions.
(4) the Government of the United States is required to submit to the Chamber of Deputies
Parliament of the Czech Republic the Czech National Bank's opinion to the Government
the draft law on the State bond program and to design special
the law, which authorizes the Ministry to issue Government bonds, or
the issue of government bonds; This does not apply to this Act
the law governing the budgetary rules.
(5) Government bonds with a maturity of up to 1 year are referred to
such as Treasury bills. Bonds issued by the Czech national
the Bank, with a maturity of up to 6 months are known as tokens of the Czech
the National Bank.
(6) the provisions of paragraphs 2 to 5 shall also apply to government bonds
issued abroad.
(7) the provisions of § 3, § 9 para. 1 (b). k) to (m)), § 10 and § 21-24a
do not apply to government bonds and bonds issued by the Czech national
by the Bank.
section 26
(1) the Czech Republic issued Government bonds through the
of the Ministry. Specifies the terms and conditions of government bonds by the Ministry.
The Ministry may determine common conditions that are the same for
an unspecified number of issues of Treasury bills.
The Ministry announces the issue of government bonds and common
issue Treasury bills in the collection of laws,
unless the Government bond issued by emission conditions abroad
or under the law of a foreign State. Common conditions of State
Treasury bills are completed for each emissions data according to
§ 6 para. 1 (b). (d)), f), and (j)) and pursuant to § 9 para. 1 (b). g) and (j)) and the
§ 9 para. 1 (b). (e)), which is in the collection of laws, but are disclosed
the Ministry published a way allowing remote access.
(2) the terms and conditions of the bonds issued by the Czech National Bank,
published in the journal of the Czech National Bank and are published in a manner
allowing remote access. The Czech National Bank may designate common
conditions that are the same for an unspecified number of emissions
vouchers the Czech National Bank. Common terms and conditions shall be published
or published under the first sentence and completed for each emission
information according to § 6 paragraph 1. 1 (b). (d)), f), and (j)) and pursuant to § 9 para. 1 (b). (g))
and (j)), in the journal of the Czech National Bank not be made public, but they are
The Czech National Bank published a manner allowing remote
access.
(3) the Ministry may change the terms and conditions of government bonds
unless it is a requirements referred to in § 9 para. 1 (b). (f)), and i) and § 9 para. 2
(a). j). The Czech National Bank may change the terms and conditions of the bonds
issued by the Czech National Bank.
(4) Government bonds issued according to Czech law, up for sale
through the Czech National Bank. Government bonds, which
transferability is limited or excluded, and Treasury bonds issued by the
According to the law of a foreign State shall give to the sale through the United
the National Bank, the Ministry, legal persons established by the Ministry of
by a special act in connection with the management of the public debt or on the
under an agreement with the Ministry through the person who is to exercise the
such activities shall be entitled to.
(5) the work associated with managing and paying off the national debt by virtue of the
Government bonds secures Ministry or a person authorized by.
(6) the transferability of government bonds and conditions can be ruled out.
Transferability of the Government bonds may also limit the emission conditions, if
at the same time the conditions under which their transferability.
Reduction or elimination of the transferability of government bond is binding
for everyone.
(7) if the transferability of government bonds is excluded or limited,
conditions may exclude the possibility of set up for federal loans
Lien, or, if at the same time shall determine the conditions under which the establishment of a
Lien, this option is also permissible limit. The limitation or
exclusion of the possibility to establish a lien on State bonds is
binding for everyone.
(8) to transfer Government bond in contravention of paragraph 6 or
establishment of a lien to the State bond in contravention of paragraph 7
shall be disregarded.
TITLE II
MUNICIPAL BONDS
section 27 of the
the title launched
(1) a municipal bond is a bond issued by a local government unit.
His name contains the word "veteran"; another security must not, in
the name of this word.
(2) a territorial self-governing unit must have to issue municipal bonds
the prior approval of the Ministry.
(3) the Ministry shall grant consent pursuant to paragraph 2 of the territorial samosprávnému
a whole, if
and) economic situation of the local government unit allows you to meet
debts arising from municipal bonds and the loans do not have and will not be
have a significantly negative impact on its management and development,
(b) the territorial Government Unit) intends to obtain funds by issuing
municipal bonds only in order to use the money thus obtained
resources on the
1. investments in fixed tangible assets used for the performance of
the scope of local government unit;
2. the damage caused by natural disaster or other disaster, or
3. the financing of the project co-financed from the resources of the European Union and
c) repayment term municipal bonds, which local government
a whole intends to release, is not longer than 15 years from the date of issue.
(4) the request for approval referred to in paragraph 2, the applicant shall be accompanied by documents
certifying the fulfilment of the conditions laid down in paragraph 3. Model application and
the content of the annexes thereto, including attachments, proving the purpose of use of cash
in accordance with paragraph 3 (b). (b)), paragraphs 1 to 3, shall lay down the
the implementing legislation.
(5) any local government unit leads to the release of money
municipal bonds on a separate bank account or charge
separately, so that at any time has been able to document the purpose of their use.
(6) the provisions of § 7 para. 1 (b). (b)) the issuance of municipal bonds
does not apply.
(7) paragraphs 2 to 5 shall apply to municipal bonds issued in
abroad or similar securities representing the right to repayment of the
the due amount issued by the territorial Government under the law of a foreign
State.
TITLE III
MORTGAGE BONDS
the title launched
section 28
(1) mortgage bonds are bonds and similar securities
papers representing the right to repayment of the amount owed, issued according to
the law of the foreign State, whose nominal value and relative yield (hereinafter referred to as
"the obligations of the mortgage bonds") are fully covered claims
of mortgage loans or parts of these claims (the proper cover) and
where appropriate substitute under this Act (alternate cover).
Part of the name of this security is the designation of the mortgage bonds
sheet. Other securities must not contain that tag.
(2) the mortgage bonds can only issue the Bank under a special
legislation governing the activity of the bank is based in the Czech Republic
(hereinafter referred to as "issuer of mortgage bonds").
(3) a mortgage is a loan whose repayment including accessories
secured by right of lien to real estate property, when the receivable from the loan
does not exceed twice the value of the pledged immovable property pledge. Loan
shall be regarded as a mortgage loan, the date of the legal effects of the lien
rights. For the purpose of covering mortgage bonds can claim from the
mortgage loan or part thereof applied only from the date on which the issuer of the
mortgage bonds on the legal effects of the creation of the lien
rights to immovable property.
(4) the immovable thing referred to in paragraph 3 must be located on the territory of the Member
State.
(5) the issuer of mortgage bonds ensures sufficient coverage
liabilities from mortgage bonds in circulation, so that the sum of the
Receivables from mortgage loans, or parts thereof, used for the proper
coverage, and total replacement coverage does not degrade under the total amount of liabilities
of all the mortgage bonds it issues in circulation.
section 29
(1) the value of the mortgaged immovable property provides the issuer
mortgage bonds. The issuer of mortgage bonds is
obliged to edit in its internal rules the rules for determining the
Lien zastavovaných immovable property values, which must respect the
the principles referred to in paragraph 2.
(2) the pledged immovable property is valued at the market price usual, under a special
the legal rules relating to the valuation of assets, taking into account the
and permanent and sustainable in the long term) of the properties of real estate property,
(b) accessible by third parties) yield in the proper management of immovable
things,
c) rights and faults with immovable things related and
(d)) to local conditions of the market in nemovitými things, including its effects and
the anticipated development.
(3) the value of the mortgaged immovable property as provided for by
paragraph 2, shall not exceed the price of the usual.
section 30
(1) for the proper protection of the summary of the commitments of all the mortgage bonds
sheets in circulation and issued by one issuer can only serve those of its
Receivables from mortgage loans, or parts thereof, that they meet the conditions of §
28 para. 3 and 4. These claims or parts thereof may not, on the whole
While such coverage is used, not exceed 70% of the mortgage value
the mortgaged immovable property to ensure these claims. Replacement
coverage summary of commitments from all the mortgage bonds in circulation
issued by one issuer is possible only when the conditions
laid down in this law.
(2) on the pledged immovable property shall not diminish the lien of a third
persons who would be in the same or in preference order, before
ensuring that the claim of lien of the mortgage loan or its
in part, included in the coverage of mortgage bonds in the
circulation, with the exception of the lien, which is a secured loan provided
building society under the law governing building society schemes, as well as
I credit granted a State Fund for the construction of housing development
cooperative housing under the Act on the promotion of the construction of cooperative housing, and
further credit provided for the construction of apartments built with the financial, credit
and another by using under special legislation on the financial, credit and
other assistance to cooperative housing construction (hereinafter referred to as "loan for a cooperative
housing construction "), provided that the building society or the creditor
accounts receivable from the loan for a cooperative housing construction with a priority ranking
their pledge gave to the issuer of mortgage bonds to
establishment of a lien in the next sequence of prior written consent. Without
This consent could not claim to cover include. The transfer of the pledged
of immovable property must not be restricted by the limitations resulting from the transfer of real estate property previously
things. The following conditions must be met for the entire period during which the
the claim of the mortgage loan to cover included.
(3) it is not considered immovable thing loaded earlier resulting from mortgage
law or restrictions on transfer of immovable property, where the guaranteed
the third party claim shall be extinguished as a result of the use of the mortgage loan to
its repayment.
(4) if some of the pledged immovable property is binding pledge
the law is a secured loan from building savings according to the law
adjusting the construction savings, can be used for the purpose of covering commitments from all
the emission of mortgage bonds in circulation include the claim of
mortgage loan or part thereof up to a maximum equal to the difference between 70%
the pledge of the pledged immovable property values and loan receivable
provided by the building society.
(5) if some of the pledged immovable property is binding pledge
the law is a secured loan for a cooperative housing construction, can be used for
the purpose of covering commitments from all the emission of mortgage bonds in circulation
include debt from mortgage loan or part thereof up to a maximum
the amount of the difference between the 70% of the mortgage value of pledged real estate and
receivable from the loan for a cooperative housing construction.
(6) if some of the pledged immovable property are getting stuck at the same time
liens in accordance with paragraphs 4 and 5, for the purpose of covering commitments from
all the emission of mortgage bonds in circulation include the claim of
mortgage loan or part thereof up to a maximum equal to the difference between 70%
the pledge of the pledged immovable property values and the sum of the amounts receivable from the loan
provided in accordance with paragraphs 4 and 5.
section 31
(1) replacement coverage for the liability of mortgage bonds in circulation
issued by one issuer is possible only up to 10% of the nominal
values, and it just
and) cash,
(b)) deposits with the Central Bank of a Member State or of the European Central
the Bank,
(c) Government bond or bonds) issued by the Czech National Bank,
d) securities issued by the Member States, their central banks
and the European Central Bank,
e) bonds issued by financial institutions based international
the Treaty, of which the Czech Republic is a Contracting Party, or financial
institutions with which the Czech Republic has concluded an international agreement.
(2) the assets used to cover the liabilities from mortgage
bonds in circulation may not the issuer of mortgage bonds
stop or otherwise used as collateral.
§ 32
(1) the issuer of mortgage bonds is required to keep the
a summary of all of the obligations of the mortgage bonds it issues in
circulation separate registers that provide full supporting documentation for the assessment of
as an issuer of mortgage bonds shall observe the provisions of this
the law.
(2) the content and method of keeping records referred to in paragraph 1 provides for the Czech
National Bank by Decree.
TITLE IV
AND PRIORITY CHANGEABLE BONDS
§ 33
the title launched
(1) Removable bond is a bond, with which it is associated the right to his
Exchange for another bond or bonds or other right to its Exchange
a share or shares of the same issuer which their issuer shall, as
a special legal regulation. This right can be exercised instead of
the right to repayment of the bond.
(2) the priority bond is a bond, with which it is associated the right to his
repayment and payment of the proceeds of the bond, as well as the right to priority
subscription of shares that its issuer shall issue under a special legal
prescription. The fact that it is a removable or priority bond,
must be clearly marked on the way listinném a bond or in
the records and in all promotional communications relating
such a bond.
(3) conditions of removable or priority of the bond must
include the location and the time limit for exercising the rights from the removable or
the priority of a bond with an indication of how it will be reported to the starting point of this
period, and specifying the date on which it ceases to pay out of the proceeds of the bond,
the Exchange has been applied the right referred to in paragraph 1.
(4) Removable bonds, which involve the right to exchange for shares,
and bonds adjusts the special law.
TITLE V OF THE
SUBORDINATE BONDS OF
§ 34
the title launched
(1) a child of the bond is a bond, where in the case of
and the entry of the issuer into liquidation),
(b)) issue of the bankruptcy decision of the issuer, or
(d)) when the issuer is a foreign person, whether or not other similar measures
the claim of the corresponding rights associated with this bond
met to the satisfaction of all other claims, with the exception of
claims that are bound to the same or similar condition
subordination.
(2) the fact that it is a child of the bond, must be clearly
in the manner indicated on the bond or listinném in the records and
Furthermore, in all promotional communications concerning the child
the bond.
(3) Claims from all subordinate bonds and other assets,
that are bound to the same or similar condition of subordination, in
the cases referred to in paragraph 1 shall meet according to their order. Emission
the terms may specify a different order of satisfaction of claims from child
bonds, even in relation to other claims, including
Receivables from other subordinate bonds, or differently in relation to the
the claim of the corresponding right to the repayment of the bond and other rights
the bond.
TITLE VI OF THE
PICKUP BOND
the title launched
§ 35
(1) a collecting IOU is written IOU that represents a summary of the
each of the bonds of the emissions that are within the time-limits for
subscription, and, where appropriate, the additional period for subscription, subscription subscription
the Charter. Each capture bond is a separate emissions. The number of subscribed
bonds each owner presents his share of the collection
the bond.
(2) Capture bond is issued when it is fully subscribed, the emissions
bonds, that is, and when it is stored in accordance with § 36 odst. 1.
For a fully upsanou bond issue is also considered in the case of emissions that
the issuer took advantage of their privileges under § 7 para. 1 (b). in the case of and).
increase or decrease the total nominal value of the bond issue, the
opatrovatele under § 36 odst. 1 at a collection of the bond shall be for information about
the operative event, for the total amount of emissions and, where appropriate, additional
information on the issue. These changes are made in the records.
(3) Capture bond is owned jointly by the owners of the shares in the
the capture of the bond. On legal relationships between owners of shares in the collection
the bond shall not apply the provisions of the Civil Code of
co-ownership.
(4) the owner of a share in the collection of the bond has all of the rights that are
associated with the ownership of the bond.
section 36
(1) Capture bond must be stored and filed with the person entitled to
management of the relevant evidence.
(2) a person referred to in paragraph 1, keeps records of shareholders at a collection
the bond.
(3) the Evidence referred to in paragraph 2 is a list of owners within the meaning of § 4 para.
2.
(4) the owner of a share in the capture of a bond may, in accordance with the emission
the terms convert bonds corresponding to this share or part
to another person. The legal effects of the transfer occurs by writing to registration
in accordance with paragraph 2.
(5) a person referred to in paragraph 1 shall be issued to the owner of a share in the
the capture of the bond on his request, extract from the register of the size of its
share in the collection of the bond.
(6) the person referred to in paragraph 1 shall be obliged to issue to the issuer of the pickup
the bond at its request, a list of owners of shares in the collection of the bond
for the purposes of the convocation and holding of meetings of the owners.
§ 36a
(1) the proportion of the collection of the bond lien in
registration in accordance with § 36 click lien debtor. If a command
Lien creditor, debtor or the pledgor, the lien
right, if the principal establishment of a lien shall be documented.
(2) a lien referred to in paragraph 1 is deleted from the register, click
the pledgee. If a statement of lien debtor, debtor
or the pledgor, clears the lien, unless the originator showing that
occurrence of the event, which is otherwise the reason for the extinction of the lien.
PART THREE
STATE SUPERVISION IN CONNECTION WITH THE ISSUANCE OF MUNICIPAL BONDS
§ 37
the title launched
State supervision over compliance with the conditions under which the territorial
samosprávnému a whole independent consent under section 27 para. 2 exercises
by the Ministry.
§ 38
Administrative offences
(1) a territorial self-governing unit commits an administrative offense, by
and will use the funds obtained) by issuing a bond or the like
a security that represents the right to repayment of the amount owed pursuant
the law of a foreign country in violation of § 27 para. 3 (b). (b)), in the case of
bond, or in violation of § 27 para. 3 (b). (b)) and section 27 para. 7 if it is
a similar paper,
(b) a bond or similar) issues a security representing a right to
the repayment of the amount owed under the law of a foreign State in breach of
1. section 27 para. 3 (b). (c)), in the case of a bond, or in violation of § 27
paragraph. 3 (b). (c)) and section 27 para. 7, in the case of similar securities,
repayment term longer than 15 years, or
2. section 27 para. 2, in the case of a bond, or in violation of § 27 para. 2 and 7,
in the case of similar securities, without the consent of the Ministry, or
c) in contravention of section 27 para. 5 does the funds obtained from the subscription
the bond or in violation of § 27 para. 5 and 7 of the like of the securities
that represents the right to repayment of the amount owed under the law of a foreign
State on a separate bank account, or does not charge separately so about them,
to be able to substantiate the purpose of their use.
(2) for the administrative offence referred to in paragraph 1 shall be fined up to 20 000 000
CZK.
§ 39
Provisions common to administrative offences
(1) a territorial self-governing unit for administrative offence does not match, if the
It proves that the effort, which was meant to require that
breach of legal obligations.
(2) in determining the amount of the fine, the territorial samosprávnému of the whole into account
the seriousness of the administrative offense, in particular, to the manner of its perpetration, and his
consequences and the circumstances under which it was committed.
(3) the responsibility of the local government unit for an administrative offense shall cease,
If the Ministry initiated proceedings about him within 1 year from the date of the
about it as possible, but no later than 5 years from the day when it was committed.
(4) administrative offences under this law in the first instance hearing
by the Ministry.
section 40
cancelled
§ 41
cancelled
PART FOUR
PROVISIONS COMMON, TRANSITIONAL AND FINAL
§ 42
Limitation periods
The rights attaching to the bonds and coupons issued to them are barred
the expiry of 10 years from the date on which it could be invoked for the first time.
§ 43
the title launched
(1) a security or book-entry securities, which is not removable
bond and which carry the right to repayment of certain amounts due,
that is even partly dependent on whether a particular circumstance occurs
or does not occur, it is not considered a bond.
(2) for the paper or book-entry securities, with which it is associated
the right to the repayment of certain amounts due and that is not a bond, you can
This law or its individual provisions apply only when the
They allege that the conditions of these securities or
book-entry securities; such a valuable paper or book-entry security
However, the paper must not contain a designation of a bond.
§ 44
Publication, notification and disclosure of information
If the law requires disclosure, reporting, or disclosure of
information on the territory of the Czech Republic, then the information is published,
be notified or made available in any language or in another language, if the
It is in the interest of investors and the use of that language is provided for in the emission
conditions.
§ 45
A mandate
(1) the Ministry shall issue a notice in accordance with § 27 para. 4.
(2) the Czech National Bank shall issue a decree the contents of register of legal
coverage of mortgage bonds, the way the leadership of this evidence and its
the elements and the content and method of implementation of information obligations of the issuer
mortgage bonds.
(3) the Ministry shall set a standard for the calculation of the aliquot interest rate
the yield for the purpose of trading Government bonds on the secondary market
bonds and will announce it is communication in the statute book.
§ 46
Transitional provisions
(1) an issuer may apply to the Commission to approve the change of issue conditions to
1 year after the date of entry into force of this Act. Under the provisions of section 12 of the
paragraph. 1, 6 and 7, the proceed even if the issue conditions of the bonds,
which were issued before the date of entry into force of this Act.
(2) the legal relationship of the bonds and issue conditions issued before the date of
entry into force of this law shall be assessed in accordance with the existing laws,
regulations.
(3) the proceedings initiated before the date of entry into force of this law, with the
the exception of the proceedings referred to in paragraph 4 shall be completed according to the existing legal
procedural regulations.
(4) the procedure for the approval of the issue conditions, bond program and its
Add-in or of change of issue conditions and a change for bond
the program, initiated before the date of entry into force of this Act,
completed under this Act. The Commission will provide to the participants in a reasonable time
the addition or amendment of the application according to the requirements of this Act; After this
the time of the deadline for a decision is not running.
(5) a violation of the existing legislation or decisions of the Commission
issued in accordance with the existing law, which was found after the date of acquisition
the effectiveness of this law, shall be assessed in accordance with the existing law.
(6) For mortgage loans under this Act and shall be treated as loans contracted
before the date of the acquisition of its effectiveness, if they meet the conditions referred to in section 28.
(7) the issuer must pass the first rules for the determination of the value of the pledge
zastavovaných real estate Commission within 3 months after the date of entry into force of
of this Act.
§ 47
Regulation (EEC)
Repealed the law no 530/1990 Coll. on bonds.
§ 48
The effectiveness of the
This Act shall take effect on the date of the Treaty of accession of the Czech
Republic to the European Union enters into force.
Fort Worth Star Telegram in r.
Klaus r.
Spidla in r.
Selected provisions of the novel
Article. XI of Act No. 355/2011 Sb.
Transitional provision
The bonds, which were before the date of entry into force of this Act when
their issue written first at the issuer's securities account in the register
under other legislation, are viewed as duly issued in
the time of their registration on this account, the rest have been met.
conditions laid down in the existing legislation for the issue
bonds.
Article. (II) Act No. 172/2009 Sb.
Transitional provisions
1. legal relations of the bonds issued by the date of entry into force of this
the law, as well as the issue conditions of bonds approved by the date of the acquisition of
the effectiveness of this law, shall be assessed in accordance with the existing laws,
regulations.
2. For the determination of the date, which is decisive for the participation in a meeting of the owners
bonds, as well as the owners of shares in the collection of the bond (hereinafter referred to as
"the meeting of owners"), can be bonds, issued to the effective date of
This Act followed by the existing legislation.
3. If the conditions of bonds related to bonds
issued to the effective date of this Act do not contain method
notification of holding a meeting of owners, is obliged to publish the convener
notice of the holding of at least two nationally distributed newspapers,
within a period of at least 15 days before the date of the meeting.
4. the procedure
and for a breach of duty) stipulated by Act No. 190/2004 Coll., as amended by
effective until the date of entry into force of this Act,
(b)) for violation of the conditions set out in the decision issued pursuant to law No.
190/2004 Coll., in the version in force until the date of entry into force of this Act,
or
(c)) on the application for approval of a bond issue conditions, which United
the National Bank has launched and which was not finally completed until the day of acquisition
the effectiveness of this law, shall stop the effective date of this
the law; points 5 and 6 are not affected.
5. proceedings conducted by the Czech National Bank with territorial Government
for violation of the obligations provided for in section 27 of Act No 190/2004 Coll., on
the version in force before the effective date of this Act, completes the Czech national
the Bank according to the existing legislation. If in such proceedings
fine, when you select and the recovery is progressing according
the existing legislation.
6. If it was up to the effective date of this Act, the decision
The Czech National Bank, imposing territorial samosprávnému unit
the fine for violation of the obligations provided for in section 27 of Act No 190/2004 Coll.
in the version in force before the effective date of this Act, and if it was against this
decision filed, shall decide on the Bank Board of the Czech national
the Bank according to the existing legislation. If the Bank Board of the Czech
National Bank of such a decision be revoked and the thing returns for reconsideration,
It is to this new discussion of relevant Czech National Bank, which
control completes in accordance with the existing legislation.
7. The fine imposed to the effective date of this Act for any act,
that is no longer an administrative crime pursuant to Act No. 190/2004 Coll., as amended by
effective from the date of entry into force of this law, shall be collected.
8. the periods that began to run according to the existing legislation to the date
entry into force of this Act, are not affected by this Act.
Article. (II) Act No. 137/2014 Sb.
Transitional provision
The legal relationships of the bonds issued before the date of entry into force of this
the law, as well as from the issue conditions of bonds posted or otherwise
made available before the date of entry into force of this law, shall be assessed
According to the existing legislation.
2) section 69 of the Act No. 513/1991 Coll., the commercial code, as amended
regulations.
3) § 190a, 190b et seq.. Act No. 513/1991 Coll., as amended
regulations.
4) § 488a et seq.. Act No. 513/1991 Coll., as amended.
4A) of section 33 of Act No. 6/1993 Coll., on the Czech National Bank.
