Changing Laws In Connection With The Unification Of Supervision Fin. Market

Original Language Title: Změna zákonů v souvislosti se sjednocením dohledu nad fin. trhem

Read the untranslated law here: https://portal.gov.cz/app/zakony/download?idBiblio=62152&nr=57~2F2006~20Sb.&ft=txt

57/2006 Coll.


LAW
Dated February 2, 2006

Amending certain acts in connection with the unification of financial market supervision

Change: 254/2008 Coll.

Change: 93/2009.

Change: 278/2009 Coll.

Change: 241/2013 Coll.

Change: 89/2012 Coll., 91/2012 Coll.

Change: 234/2014 Coll.

Parliament has passed this Act of the Czech Republic:
PART ONE


Changing the law on the establishment of ministries and other central organs of state administration of the Czech Republic

Article I


Act no. 2/1969 Coll., On establishment of ministries and other central bodies
government of the Czech Republic, as amended Act no. 34/1970 Coll., Act No.
. 60/1988 Coll., Act no. 173/1989 Coll., Legal measures
Presidium of the Czech National Council no. 9/1990 Coll., Act no. 126/1990 Coll.
Act no. 203/1990 Coll., Act no. 288/1990 Coll., legal measures
Presidium of the Czech national Council no. 305/1990 Coll., Act no. 575/1990
Coll., Act no. 173/1991 Coll. Act no. 283/1991 Coll., Act no. 19/1992
Coll., Act no. 23/1992 Coll., Act no. 103/1992 Coll., Act no. 167/1992 Coll
. Act no. 239/1992 Coll., Act no. 350/1992 Coll., Act no. 474/1992
Coll., Act no. 548/1992 Coll., Act no. 358/1992 Coll., Act no. 359/1992
Coll., Act no. 21/1993 Coll., Act no. 166/1993 Coll., Act no. 285/1993
Coll., Act no. 47/1994 Coll. Law no. 89/1995 Coll., Act no. 289/1995
Coll., Act no. 135/1996 Coll., Act no. 272/1996 Coll., Act no. 152/1997 Coll
. Act no. 15/1998 Coll., Act no. 148/1998 Coll., Act no. 63/2000
Coll., Act no. 130/2000 Coll., Act no. 204/2000 Coll., Act no. 365/2000
Coll., Act no. 154/2000 Coll., Act no. 239/2000 Coll., Act no. 257/2000
Coll., Act no. 258/2000 Coll. Act no. 458/2000 Coll., Act no. 256/2001
Coll., Act no. 219/2002 Coll., Act no. 13/2002 Coll., Act no. 47/2002 Coll
. Act no. 517/2002 Coll., Act no. 62/2003 Coll., Act no. 162/2003
Coll., Act no. 18/2004 Coll., Act no. 362/2004 Coll., Act no. 421/2004
Coll., Act no. 499/2004 Coll., Act no. 501/2004 Coll., Act no. 587/2004
Coll., Act no. 95/2005 Coll. Act no. 127/2005 Coll. and Act no. 290/2005
Coll., is amended as follows:

First In § 2 para. 1 point 8 is deleted.

Existing paragraphs 9 to 12 are renumbered 8 to 11

Second In § 2 para. 3 second sentence deleted.

Third In § 4 para. 1, "with the exception of supervision of the capital market in
scope of the Securities and Exchange Commission" is replaced by "and
protect the interests of consumers in the financial market with the exception of supervision over the financial market in so far
scope of the Czech national Bank "and the words" for things
insurance companies, pension funds "are replaced by"
contribution to building savings and state pension contributions ".
PART TWO


Amendment to the Securities and Exchange Commission
Article II


Law no. 15/1998 Coll., On the Securities Commission and amending and supplementing
other laws as amended by Act no. 30/2000 Coll., Act no. 362/2000 Coll.
Act no. 370/2000 Coll., Act no. 308/2002 Coll., Act no. 257/2004 Coll.
Act no. 626/2004 Coll. and Act no. 381/2005 Coll., is amended as follows:

First The title of the Act, the words "Securities and Exchange Commission" shall be replaced
"supervision of the capital market."

Second The heading of Part One added: "The supervision of the capital markets."

Third Title it first added: "The competence and powers CZECH NATIONAL BANK IN
capital market".

Fourth § 1, including the heading reads:

"§ 1 Subject Matter



This law regulates the competence and powers of the Czech National Bank in
supervision over the capital market and establishes certain rights and obligations
entities on that market. ".

Fifth § 2 reads:

"§ 2

Czech National Bank in exercising supervision over the capital market
strengthens the confidence of investors and issuers of investment instruments in the capital market
notably by contributing to investor protection and development of the capital || | market and supports public education in this area. ".

6th § 3, including the title and footnote no. 1 reads:

"§ 3

competence of the Czech National Bank in the area of ​​capital market supervision

Czech National Bank in the capital market

a) supervising the extent provided by law
a special law governing business activity in the capital market
collective investment, bonds, company law and
area allocation of funds of pension funds ^ 1)


B) decide on the rights, legally protected interests and obligations
legal entities and individuals, if provided for in this Act or
special legal rules governing business in the capital
markets, collective investments, bonds, rights
corporate and field placement of funds in pension funds ^ 1)

C) monitors the implementation of information obligations of persons subject to supervision
Czech National Bank stipulated by this Act and special legal
regulations governing business activity in the capital market
collective investment, bonds, company law and
area allocation of funds of pension funds ^ 1)

D) performs other activities pursuant to this Act.

1) The Act no. 256/2004 Coll., On Capital Market, as amended
.

Act no. 189/2004 Coll., On Collective Investment, as amended by Act no. 377/2005 Coll
.

Act no. 190/2004 Coll., On Bonds, as amended by Act no. 378/2005 Coll.

Act no. 513/1991 Coll., The Commercial Code, as amended.

Law no. 42/1994 Coll., On supplementary pension insurance with a state contribution and
on amendments to some acts related to its introduction, as amended
.. "

7th Note fn. 2 is repealed.

eighth § 4 shall be deleted.

ninth in § 6 from the title, the word "Commission" is replaced by "
Czech national Bank."

10th § 6 para. 2, first sentence, the word "Commission" shall be replaced
"Czech national Bank", the word "control" the words "in the field of supervision over the capital
market [§ 3. a)], "and in the second sentence and the sentence of the third
" Commission "shall be deleted.

11th in § 6, paragraph 3, including footnote no. 24e reads:

"(3) the decision of the Czech national Bank in the supervision
capital market may be filed. Decisions concerning appeals
Bank Board of the Czech National Bank, which also decides on an appeal against a decision
the regulated market or exchange chamber by
special legal regulation 24e).

24e) § 49 para. 1 and § 149 of Act no. 256/2004 Coll., As amended
regulations. ".

12th in § 6 paragraph 4 reads:

"(4) in proceedings that touches people in a number higher than 30, can serve documents
public notice.".

13th in § 6, paragraphs 5 and 6 are deleted .

14th in § 7 in the headline and § 11 para. 1, "state surveillance"
replaced by "capital market supervision."

15th in § 7 paragraph 1 is deleted.

16th in § 7 of the designation of paragraph 2 shall be deleted and the introduction reads:
'supervision by the Czech national Bank is subject to the capital market. "

17th V § 7. b) the words "where so provided in this Act" are deleted.

18th in § 7. c) the word "Commission" shall read "
Czech national Bank." || |
19th in § 7, paragraph. 1, "state supervision" shall be replaced
'supervision by the Czech national Bank of the capital market. "

20th paragraph in § 7a. 2 words "state supervision"
replaced by the word "supervision".

21st in § 7, paragraph. 2, both locations paragraphs 3 and at the beginning of paragraph 4
§ 8 paragraph. 1, § 10 paragraph. 1 and at both locations paragraph 4, § 11 para. 1
2, 4, 5 and 6, third sentence, § 13 para. 1, 2 and 3, § 19, § 26 par. 2 point.
D) the word "Commission" is replaced by "Czech National Bank".

22nd In § 7 paragraph. 4 at the end of the provisions of the word "Commission" shall
words "Czech National Bank".

23rd In § 8 of repealing the heading "inspection rights".

24th In § 8. 1 point. a) the words "under this Act or a special
" is deleted and the word "supervision" is replaced by "surveillance
capital market".

25th In § 8. 1 after letter b), new letters c) to e)
which including footnote no. 9b added:

"C) require clarification of the facts of each, if the condition
referred to in point b) the provisions of a special regulation governing
administrative proceedings on a summons, presentation and examination of a witness shall apply mutatis mutandis
, || |
d) require submission of records, reports or related data
transmitted over an electronic communications network from a person
subject to its supervision of the capital market and which rightly acquired
,
| || e) if the conditions referred to in point b) to require the provision
operational and localization data of the person providing a public communications network

Or publicly available electronic communications
^ 9b)

9b) § 90, 91 and § 97 para. 3 of the Act no. 127/2005 Coll., On electronic
communications and amending certain related laws (the Electronic Communications
). ".

26th in § 8. 1, the existing letters c) and d) be designated as letters f) and g
).

27th in § 8. 1 point. f) the word " State 'shall be deleted, as
word "control" the words "on the spot", the words "under this or
special law" are deleted, the word "supervision" shall be replaced
"capital market supervision" and the words ", including state control on
spot" is deleted.

28th in § 8, paragraphs 2-5 added:

"(2) the Czech national Bank may exercise authority by paragraph 1 point.
B) to e) in the case of investigations fact, other than under paragraph 1
point. b) if it is necessary to ascertain the information requested by the foreign authority
financial market supervision, on condition that it is necessary for
perform its tasks in the area of ​​financial market supervision, these || | information he may be in accordance with § 26 to provide and that it can apply
comparable powers in its territory in the event of similar requests
Czech national Bank.

(3) A person subject to supervision by the Czech National Bank of the capital market
is required in connection with the performance of on-site inspections provide the Czech National Bank
necessary cooperation, especially the request without delay
allow entry into their premises. The person from whom the Czech National Bank
entitled to require information or documents or records and data according
paragraph 1 or 2, is required to provide such information or documents or
records and data without delay, unless Czech national Bank
longer period.

(4) If the danger of delay, the Czech National Bank
relation to persons subject to supervision under § 7 to check for
place and that the notice of initiation controls simultaneously performs the first
operation controls. When delivering a notice of initiation of an audit can proceed similarly
according to § 10 paragraph. 2 and 3

(5) Persons for which there is a reasonable suspicion that
without authorization or consent of the Czech National Bank carry out any activity for which it is necessary
permission or consent of the Czech National Bank, the Czech National Bank
authorized to check the extent that is necessary to determine
facts concerning such activities, and controlled
person is obliged to provide assistance. ".

Paragraph 6 is deleted.

29. in § 9 in the title the words "and sanctions" are deleted.

30th in § 9, paragraphs 1, 3 and 4 shall be deleted.

existing paragraph 2 shall be renumbered 1
paragraphs 5 and 6 shall be renumbered 2 and 3

31st in § 9. 1 in the introductory part of, and in both places
paragraph 2, the word "Commission" shall be replaced "the Czech national Bank."

32nd in § 9. 1 in the introductory part of the word "state supervision"
replaced by "capital market supervision."

33rd in § 9. 1 in a) the word "controlled" deleted and
word "person" the words "subject to this oversight" and
point b) the word "government supervision" is replaced by " this supervision. "

34th In § 9. 3 in three places and § 11 para. 6 sentence of the fourth
word "Commission" is replaced by "Czech National Bank".

35th Under § 9, the following new § 9a to 9c including headings and notes
fn. 10 added:

"§ 9a



Offences (1) A person who commits an offense that

a) a person who is subject to supervision by the Czech National Bank in the area | || capital market fails to provide information and documents that
Czech national Bank is entitled to request pursuant to § 8. 1 point. a)

b) fails to provide information, documents, records, information or clarification,
which the Czech national Bank may be required under § 8. 1
point. b) to d) and paragraph. 2

c) as a senior officer of the issuer of the security, the person who drew up
prospectus or a securities trader who placed securities
fails to provide information and documents to the Czech national Bank
entitled to claim under § 8. 1 point. g)
|| | d) violates the obligation whose fulfillment is subject to supervision under § 7a or

e) violates the obligation to cooperate pursuant to § 8. 5th

(2) An offense under subsection 1. and ), b), c) and e) can be stored
fine of up to CZK 5,000,000 for infractions under paragraph 1. d) possible

Fined up to 50 million CZK.

§ 9b

Administrative offenses of legal persons and entrepreneurs

(1) A legal or natural person commits an administrative offense
that

A) a person who is subject to supervision by the Czech National Bank in
capital market fails to provide information and documents that
Czech National Bank is entitled to request pursuant to § 8. 1 point. a)

B) fails to provide information, documents, records, information or clarification,
by the Czech National Bank may be required under § 8. 1
point. b) to d) and. 2

C) as auditor of the issuer of the security, the person who drew up
prospectus or a securities trader who placed securities
fails to provide information and documents to the Czech National Bank is authorized to require by
§ 8. 1 point. g)

D) breaches an obligation which is subject to supervision under § 7a or

E) violates the obligation to cooperate pursuant to § 8. 5th

(2) for an administrative offense under paragraph 1. a), b), c) and e) are saved
fine of up to CZK 5,000,000 for an administrative offense under paragraph 1. d)
fine of up to CZK 50 million.

§ 9c

Joint provisions on administrative offenses

(1) A legal person for an administrative delict if it proves that
made every effort that could be required to breach
legal obligations prevented.

(2) In assessing the fine legal person takes into account the seriousness
administrative offense, especially the manner of its commission and its consequences
and the circumstances under which it was committed.

(3) The liability of a legal person for an administrative tort shall expire if
administrative authority has initiated proceedings within 1 year of the date when it became
but no later than 5 years from the date when it was committed .

(4) Administrative offenses under this Act by the Czech National Bank.

(5) The liability for conduct that occurred in the business of a natural person
^ 10) or in direct connection therewith, shall be subject to the provisions of the Act
on liability and sanctions to legal persons.

(6) fines for administrative offenses imposed by the Czech National Bank pursuant to this Act
levied by the locally competent financial authority.
Income from fines imposed on securities dealers under this Act
income of the Guarantee Fund of Securities Dealers, income
other penalties imposed under this Act, the income of the state budget
.

10) § 2 para. 2 of the Commercial Code. ".

36th In § 10, in the title the words" and sanctions "are deleted.

37th in § 10 paragraph. 1 the words "and sanctions" are deleted.

38th in § 10 paragraph. 2, "the Commission orders" are replaced by "
Czech national Bank imposed" and the words "the Commission's decision" shall be replaced || | "Czech national Bank decision."

39th in § 10 paragraph. 3, "the Commission is entitled 'shall be replaced
" the Czech national Bank is authorized ", the words" Commission decision "is || | replaced by "Decisions Czech national Bank" and "the board of the Commission '
be replaced by" the board of the Czech national Bank. "

40th in § 10 paragraph. 4 the words" and sanctions ", the words "or penalty" and the words "
and based on proportionality when imposing a fine view of the property situation of the person
" are deleted.

41st In § 10 paragraph 5 shall be deleted.
|| | Former paragraph 6 shall be renumbered paragraph 5.

42nd in § 10 paragraph. 5 in three places, the word "Commission" shall be replaced
"Czech national Bank."

43 . In § 11 para. 1 the words "under this Act or special laws
" are deleted.

44th In § 11 para. 2 letters d) and e) are added:

"D) a bank, a branch of a foreign bank or savings and úvěrnímu
team that lead to the person against whom the measures are being taken to
remedy or sanction or for any other party current, deposit or
another account, not to pay the funds from that account, they did not perform
netting or otherwise does not manipulate them,

e) bank, branch of a foreign bank or savings and úvěrnímu
team that lead normal , deposit or other account, not to pay
funds from that account, they did not perform netting or otherwise
them not to dispose of the case on the account to which were transferred
person against whom accepted remedial measures or sanctions, or other
party funds from their accounts. ".

45th In § 11 para. 6 in the first sentence the words "Commission to impose such measures

To remedy hereunder or special Act "is replaced by"
Czech National Bank in exercising supervision over the capital market as
impose remedial measures pursuant to this Act or special legal
regulations specified in § 3 "and in the fourth sentence, the word "Commission" shall
words "Czech national Bank."

46th § 12 is deleted.

47th in § 13 para. 1 point. a) the word "papers, 11)" is replaced
'papers, which were awarded authorization under the law governing business activities on the capital market
^ 11). "

Footnote. 11 reads: || |
"11) § 6 of Act no. 256/2004 Coll., on capital market.".

48th in § 13 para. 1 point. b) the word "brokers ^ 12) "is replaced
" brokers, which has granted a license under the Act governing business activities on the capital market
^ 12). "

Footnote. 12 reads:

"12) § 14 of Act no. 256/2004 Coll., as amended.".

49th in § 13 para. 1 point. c) the word "market, 13)" is replaced by " market
which has granted a license under the Act governing business activities on the capital market
^ 13). "

Footnote. 13 reads:

"13) § 74 of Act no. 256/2004 Coll., As amended.".

50th In § 13 para. 1 point. d) the word "papers ^ 14)" is replaced
'papers, which were awarded authorization under the law governing business activities on the capital market
^ 14). "

Footnote. 14 reads:

"14) § 83 of Act no. 256/2004 Coll., As amended.".

51st In § 13 para. 1 point. e) the word "papers ^ 15)" is replaced
'papers, which were awarded authorization under the law governing business activities on the capital market
^ 15). "

Footnote. 15 reads:

"15) § 45 of the Act no. 256/2004 Coll., As amended.".

52nd In § 13 para. 1 point. f) the word "Funds ^ 16)" is replaced
'funds operating under the law regulating collective investment
^ 16). "

Footnote. 16 reads:

"16) Act no. 189/2004 Coll.".

53rd In § 13 para. 1 letter h) to j), including footnotes Nos. 18, 19 and 20
added:

"H) depositaries of collective investment funds ^ 18)

i) pension funds and custodians of pension funds ^ 19)

j) Insurance ^ 20)
|| | 18) § 25 of Act no. 189/2004 Coll.

19) Act no. 42/1994 Coll., as amended.

20) Act no. 363/1999 ., on insurance, as amended
regulations. ".

54th In § 13 para. 1 point. u) the word "Commission" is replaced by "
Czech National Bank."

55th In § 13 para. 1 point. w) the word "Commission" shall read "
Czech National Bank."

56th In § 13 para. 1, at the end of subparagraph w) is replaced by a comma and the following letter
x), which reads:

'X) securities traders established in a Member State of the European Union
who provide their services in the Czech Republic, stating
data on any organizational unit located in the Czech Republic
. " .

57th In § 14 paragraph 1 reads:

"(1) The Czech National Bank publishes a manner allowing remote access
or through the official information of the Czech National Bank in the Journal
Czech National Bank (hereinafter referred to as" Bulletin ")

a) list by § 13 para. 1 point. a)

b) final decision of the Czech national Bank pursuant to this Act or
special regulations in the capital market (§ 3)
which are fundamental in nature, with the exception of those which contain facts
covered by a specific law ^ 21)

c) statements of final decisions of the Czech national Bank in the case
by this Act or special legislation on capital
market (§ 3)

d) of the Czech national Bank concerning the capital market,

e) other communication or notification from the Czech national Bank
important for the capital market. " .

'58. In § 14 paragraph 2 deleted.

Existing paragraph 3 shall be renumbered 2. In the introductory part of his
provision, "the Commission" is replaced by "Czech National Bank" and
words "Bulletin Commission determines" are replaced by "the Journal declares".

59th § 16-18 is deleted, including the title.

60th Designation Title II, including the title "Commission's organizational structure" is
deleted.

61st § 21 to 25, including titles repealed.

62nd In § 26 paragraph 1 reads:

"(1) Employees of the Czech National Bank in supervising

Capital market and persons whose services Czech National Bank uses
for the supervision of the capital market, and their employees and
members of the advisory bodies of the Czech National Bank for the capital market
are obliged to keep confidential all
information obtained in connection with the performance of its business, office or their employment in
area of ​​capital market supervision. Information pursuant to the first sentence may
person who has a duty of confidentiality apply only in the manner and to the extent
necessary for carrying out tasks or perform the duties of supervision
capital market or in judicial proceedings relating to || | decision or performance, capital market supervision, or similar
international proceedings. Breach of confidentiality
not provide information to third parties in aggregate form so that it can not identify
particular entity to which the information relates.
Obligation of confidentiality continues even after the termination of their employment, occupation or functions that this obligation
established. ".

63rd in § 26 par. 2 letter a) reads:

"a) employees of the Czech national Bank, who assists in the performance
financial market supervision in the Czech Republic."

64th in § 26 par. 2 point. b), para. 4, 5 and 6 and § 26 par. 2 point. d)
both places the word "supervision" is replaced by "supervision."

65th in § 26 par. 2 point. c) points 1 and 2 the words "state supervision"
replaced by the word "supervision".

66th in § 26 par. 2 point. c) point 3, the word "central" is replaced by
"central".

67th in § 26 par. 2 point. g) the word "supervision" shall be replaced
'supervision by the Czech national Bank. "

68th in § 26 par. 5 the word "Commission" shall read "
Czech national Bank."

69th in § 26 par. 6, the word "capital" is replaced by "financial"
word "Commission" shall be replaced the words "Czech national Bank" and the phrase "
spot" is deleted.

70th In § 26 par. 7, the word "financial"
replaced by the word "capital".

71st § 27 is repealed.

72nd Title III shall be repealed.
Article III

Transitional provisions


First The effective date of this Act expires Securities Commission
(hereinafter "Commission") and the term of office of the Chairman and members of the Presidium
Commission. The existing powers of the Commission under the laws and other legislation passed
effective date of this Act, the Commission
to the Czech National Bank.

Second Decisions in administrative proceedings issued by the Commission under the Act no. 513/1991
Coll., The Commercial Code, Act no. 61/1996 Coll., On some measures
against the legalization of proceeds from crime and on Amendments
related acts, Act no. 15/1998 Coll., on the securities and Exchange Commission
on changes and amendments to other laws, Act no. 189/2004 Coll., on
collective investment Act no. 190/2004 ., on bonds, or
Act no. 256/2004 Coll., on capital market, as amended
effective until the effective date of this Act, shall be deemed
decision issued by the Czech national Bank and the law and obligations arising
basis of these decisions are not affected. If such was fined
decision, which has not been paid, when it
collection and enforcement shall be governed by these laws are effective
effective date of this Act. If a decision
Commission before the effective date of this Act was repealed and returned for new
discussion, is it relevant Czech National Bank, which progresses
under the previous legislation.

Third Proceedings conducted by the Commission and initiated before the effective date of this Act
by Act no. 513/1991 Coll., The Commercial Code, Act no.
61/1996 Coll., On Certain Measures against Money Laundering
activities and amendment of related laws, Law no. 15/1998
Coll., on the securities Commission and amending and supplementing other acts,
Act no. 189/2004 Coll., on collective investment Law No. .
190/2004 Coll., on bonds, or Act no. 256/2004 Coll., on trading on the capital market
, as amended effective until the effective date of this Act
, completes the Czech national Bank under the previous legislation.
If in such proceedings fined in its collection and enforcement
shall be governed by these laws are effective from the date of entry into force of this Act
.

Fourth If it was before the effective date of this Act, a decision

Commission pursuant to Act no. 513/1991 Coll., The Commercial Code, Act no.
61/1996 Coll., On some measures against the legalization of proceeds from criminal activities and
amendment of related laws, Act No. .
15/1998 Coll., on the securities Commission and amending and supplementing other acts,
Act no. 189/2004 Coll., on collective investment Act no. 190/2004
Coll. bonds, or Act no. 256/2004 Coll., on trading on the capital market
, as amended effective until the effective date of this Act
, and if it was against this decision filed decomposition decided by the || | Bank Board of the Czech national Bank under previous legislation. If
Board revoke this decision and return the case for reconsideration
is this reconsideration relevant Czech National Bank, which decides
under the previous legislation. A retrial and the review
proceedings concerning those decisions made by the Czech National Bank by
previous legislation.

Fifth Commission staff on the effective date of this Act become
employees of the Czech National Bank. The rights and obligations arising from labor relations
these employees are transferred from the Commission to the Czech National Bank.
The rights and obligations arising from labor relations of those employees whose
employment with the Commission ended before the effective date of this Act
, settles the Ministry of Finance.

6th The right to manage assets owned by the Czech Republic, with the exception
real estate, which was the effective date of this Act, authorized to manage
Commission, which is required to exercise supervision
Czech National Bank pursuant to Law no. 15 / 1998 Coll., on the securities Commission
securities and Amendments to other acts, as amended effective date of
entry into force of this Act shall terminate on the effective date of this Act
. These assets becomes effective date of this Act
property of the Czech National Bank and the liabilities related to these assets will become
effective date of this Act, the obligations of the Czech National Bank
. Other assets of the Commission was entitled to manage and settle other liabilities
Ministry of Finance. Details are set
agreement between the Czech National Bank and the Ministry of Finance. 7. Cash
funds in the amount of the reserve fund and fund cultural and social needs
Commission and any claims and liabilities relating to the fulfillment of
fund cultural and social needs of the Commission
moving the date of entry into force of this Act the Czech national bank.

8th Effective date of this Act, the Czech National Bank becomes
rather than the Commission or the State party, which acts as a participant
Commission or where the Commission acts on behalf of the state.
Financial liabilities that such proceedings arise Czech National Bank
reimburse the state. This also applies to obligations that the Czech National Bank
arise as a result of proceedings initiated after the effective date of this Act and
relating to the activities of the Commission under the previous legislation.

9th The effective date of this Act shall cease attorney granted
Commission.

10th People obligation to maintain confidentiality in accordance with § 26 of Law no. 15/1998
Coll., On the Securities Commission and amending and supplementing other acts,
effective on the effective date of this Act, unless this Act
affected.

11th Deadlines which commenced before the effective date of this Act
by existing legislation, are not affected by this Act.

12th Report on the situation on the Czech capital market by the Commission to
for the year 2005 according to § 4 of the Act no. 15/1998 Coll., On the Securities Commission and
amending other laws, as the effective date || | effective date of this Act shall be completed and submitted to the government and the Chamber of Deputies
Czech national Bank until 30 September 2006 unless it was submitted to the Commission
until the effective date of this Act.
Article IV



Authorization
Prime Minister is authorized to make in the Collection of Laws the full wording
Law no. 15/1998 Coll., On the Securities Commission and amending and supplementing
other acts, as is clear from later laws.
PART THREE


Amendment of the Czech National Bank
Article V


Act no. 6/1993 Coll., On the Czech National Bank, as amended by Law no. 60/1993
Coll., Act no. 15/1998 Coll., Act no. 442/2000 Coll., Ruling Constitutional

Court promulgated under no. 278/2001 Coll., Act no. 482/2001 Coll., Act No.
. 127/2002 Coll., Act no. 257/2004 Coll. and Act no. 377/2005 Coll., is amended as follows
:

First In § 1 para. 1 the words "and the supervisor
financial market."

Second In § 2 para. 2 point. c) after the word "bank," the words "
branches of foreign banks and credit unions".

Third In § 2, par. 2 letter d) reads:

"D) supervises entities operating on the financial market,
analysis of the development of the financial system, the sound operation and development
financial market in the Czech Republic and contributes to the stability of
financial system as a whole ".

Fourth In § 2 para. 2 letter e), including footnotes Nos. 1a and 1b
deleted and letter f) shall become point e).

Fifth In § 2 para. 3, the words "banks, electronic money institutions and"
deleted.

6th In § 3, paragraphs 6-8, including footnotes Nos. 17, 18 and 19
deleted.

7th Under § 3, the following § 3a is added:

"§ 3a

Czech National Bank shall submit Deputies
least once a year to report information on financial stability.".

8th In § 5, at the end of paragraph 1, the words "and measures in the field
financial market supervision."

9th In paragraph 5. 2 at the end of the text is replaced by a comma and
letter h), which reads:

"H) decide on appeals against decisions of the Czech National Bank in the first instance
.".

10th § 6 para. 7 point. d) the words "and the bank" is deleted and the word
"issues" with the words "and in the financial market."

11th In § 10 paragraph. 2, the word "banking" is replaced by "financial
market".

12th In § 24 letter a), including footnote no. 1 reads:

"A) a provision promulgated in the Bulletin of the Czech National Bank prudential rules
banks, branches of foreign banks, and
credit unions, electronic money institutions ^ 1) and
branches of foreign electronic money institutions operating on
territory of the Czech Republic under a single license,

1a) § 18b of the Act no. 124/2002 Coll., on transfers of funds,
electronic payment instruments and payment systems (the Act on
Payments Act), as amended by Act no. 257/2004 Coll. ".

13th In § 25 par. 1 the words "to the bank", the words "
branches of foreign banks and credit unions."

14th In § 25 par. 2, the words "bank less bank liabilities to other banks
" are replaced by "an institution that has an obligation under paragraph 1
, net of liabilities of the institution to other institutions that have
obligation under paragraph 1 ".

15th In § 26 par. 1 the words "If the bank" the words "
branch of a foreign bank or savings and loan association."

16th In § 26 par. 2, the word "bank" is replaced by "institutions
subject to the requirement under § 25".

17th Under § 29 the following § 29a is inserted:

"§ 29a

Stores, the Czech National Bank in accordance with Part Six with banks
may similarly be conducted with foreign bank branches and savings and credit cooperatives
.".

18th In § 36 point. a) after the word "bank" the words "
credit unions".

19th In § 36, point c) deleted including footnote no. 6.

20th In § 37 paragraph 2 reads:

"(2) The Czech National Bank together with the Ministry of Finance submitted to the Government
draft legislation on foreign exchange management and regulation of electronic money
.".

21st In § 37, paragraph 3 shall be added:

"(3) The Czech National Bank is working with the Ministry of Finance
preparing draft legislation in the financial market;
provisions of paragraphs 1 and 2 are not affected.".

22nd In § 38 par. 1 the words "credit unions ^ 4a) '
words" and foreign bank branches ".

23rd In § 38 par. 1, the reference to footnote no. 4 shall be deleted.

24th In § 38 paragraph 3 reads:

"(3) The Czech National Bank is determined to ensure uniform payment and clearing


decree a) the manner of execution of payments between banks, savings and
credit unions and foreign bank branches and clearing
on accounts with banks, credit unions and foreign bank branches


B) the manner of use of payment instruments by banks, credit unions and
and branches of foreign banks in the payment system. ".

25th In § 40, after the word" bank "the words", bodies
oversight of financial markets. "

26th in § 41 paragraph 2-5, including footnotes Nos. 8 and 8a added:

" (2) the Czech national Bank requires a undertake its tasks
necessary information and documents from

A) banks, branches of foreign banks, credit unions, electronic money institutions
^ 1) and branches of foreign institutions
electronic money business in the Czech Republic under a single license
,

B) other entities subject to its supervision (§ 44)

C) other persons belonging to the financial institutions sector according to European Community law
^ 8), or persons who have
information necessary for compiling the balance of payments of the Czech Republic.

Right Czech National Bank to request information pursuant to special legislation
rules and fulfillment of the information duty pursuant to special legislation
This does not affect ^ 8a).

(3) The Czech National Bank provides a provision promulgated in the Bulletin of the Czech National Bank
content, form, dates and manner of submission
information and documents required from the persons referred to in paragraph 2.
) And organizational and communication conditions for their transfer
Czech National Bank.

(4) The Czech National Bank provides decree the group of persons referred to in paragraph 2
point. b) c) and the content, form, dates and manner of compilation and submission
from them information and documents required.

(5) If the submitted information and documents do not comply with the requirements
established pursuant to paragraph 3 or 4 or if there are reasonable
doubts about the accuracy or completeness of the information and documents
, the Czech National Bank is entitled to request relevant
clarification or explanation.

8) Council Regulation (EC) no. 2223/96 of 25 June 1996 on the European
system of national and regional accounts.

8a) For example, Act no. 21/1992 Coll., On Banks, as amended
regulations, the Act no. 256/2004 Coll., On Capital Market, as amended
Act no. 189/2004 Coll., on collective investment
Act no. 87/1995 Coll., on savings and credit cooperatives
, as amended, Act no. 363/1999 Coll., on || | insurance, as amended. ".

Former paragraph 5 shall become paragraph 6

27th footnotes Nos. 9, 9a and 9b are deleted.
| || 28th in § 43, the words "state supervision" is replaced by "supervision by
special legislation ^ 9)."

Footnote. 9 reads:

" 9) Act no. 15/1998 Coll., as amended.

Act no. 256/2004 Coll., As amended. ".

29th § 44 including footnotes. 9a to 9f reads:

" § 44 | ||
(1) The Czech National Bank supervises

A) banks, branches of foreign banks, savings and credit cooperatives
, electronic money institutions, branches of foreign
electronic money institutions and other entities that issue
electronic money under special legislation ^ 9) and above
operation of the banking system

B) securities dealers, issuers of securities
central depository other entities keeping registers of investment instruments
investment companies, investment funds, operators
settlement system of investment markets and | || other persons specified in special
specific legislation regulating business activity in the capital market-9b)

C) insurance companies, reinsurance companies, pension funds and other entities
operating in the insurance and pension insurance under special regulations
^ 9c)

D) safe, reliable and efficient operation of payment systems
under a special legal regulation 9d)

E) the activities of other persons who are authorized under special legal regulations
^ 9e).

(2) Supervision includes

A) decisions on applications for licenses, permits and approvals prior
under special laws,

B) checking that the conditions stipulated in licenses and permits
,


C) inspection of adherence to laws, is this check
Czech National Bank under this Act or special legal rules,
and enforcement of decrees and provisions issued by the Czech National Bank
,

D) obtaining information necessary for supervision under special
laws and their enforcement, checking the truthfulness, completeness and timeliness
,

E) imposition of remedial measures and penalties pursuant to this Act or
special legislation

F) proceedings on administrative offenses and misdemeanors.

(3) The Czech National Bank has exercised over the persons referred to in paragraph 1 also
supervision on a consolidated basis or in a group and supplementary supervision
such entities in financial conglomerates to the extent provided
special legal regulations 9f ).

9a) Act no. 21/1992 Coll., On Banks, as amended,
Act no. 87/1995 Coll., On Credit Unions, as amended
Part Three Act no. 124/2002 Coll., on payment
contact, as amended.

9b) § 3. a) Law no. 15/1998 Coll., on the Securities Commission and
amending other laws, as amended.

9c) Act no. 363/1999 Coll., On Insurance, as amended
, Act no. 42/1994 Coll., On pension insurance with state contribution
, as amended, Act no. 38/2004 Coll., on
insurance intermediaries and independent loss
claims.

9d) Part IV of the Act no. 124/2002 Coll., As amended.

9e) Act no. 219/1995 Coll., The Foreign Exchange Act, as amended
regulations.

9f) Act no. 377/2005 Coll., On Supplementary Supervision of Banks,
credit unions, electronic money institutions,
insurers and securities dealers in financial conglomerates and amending other
acts (Act on financial Conglomerates), Act no.
21/1992 Coll., as amended, Act no. 256/2004 Coll., on
business in the capital market, as amended, Act No. .
363/1999 Coll., on insurance and amending certain related laws
(insurance Act). ".

30th in § 45 of the existing text is renumbered as paragraph 1. In it,
word "supervision" is replaced by the word "oversight". the current footnote. 9b
is referred to as a footnote. 9G, including the reference to footnote
.
|| | 31. in § 45 the following paragraph 2, which, including footnotes.
11a reads:

"(2) An employee of the Czech national Bank shall exercise supervision
form of on-site inspections in cases when a person close-11a)
to the inspected person or a person who has inspected person status
which could affect its activities.

11a) § 116 of the Civil Code. ".

32nd after § 45, the following new § 45a-45d, which including the title added:

" § 45a

Financial Market Committee

(1) A Financial Market Committee (the "Committee") as an advisory body
Bank Board for financial market supervision.

(2) The Committee has seven members, namely:

A) Committee Chairman, Vice-Chairman and another member of the committee, the election
Budget Committee of the Chamber of Deputies at the proposal of professional interest
organizations for financial market participants and after the Czech
National Bank and Ministry of Finance on the proposed persons;
these members of the Committee must be credible and recognized experts in the field
financial market

B) a member of the Board appointed and dismissed by the Bank Board,

C) two senior officers of the Ministry of Finance appointed and dismissed
finance minister,

D) the Financial Arbiter.

(3) The term of a member of the Committee elected by the Budget Committee of the Chamber of Deputies
3 years. He may be re-elected.
Budget Committee is obliged to elect a member no later than 3 months from the
term of office, death, resignation or dismissal of a previous member of the Committee
Budget Committee due to loss of credibility.

(4) Committee members perform their duties impartially and performance
they are not remunerated.

§ 45b

(1) The Committee shall meet regularly at least twice a year.

(2) Negotiations Committee, chaired by the Chairman and in his absence the Vice Chairman.


(3) The Governor of the Czech National Bank and the Finance Minister have the right to participate in meetings of the Committee
.

(4) The Committee shall adopt its rules of procedure specifying detailed rules
his conduct.

(5) The Czech National Bank employee approved by the Bank Board shall be the Secretary of the Committee
.

§ 45c

(1) The Committee shall monitor and discuss

A) general concepts, strategies and approaches to financial market supervision,

B) significant new trends in the financial market in the supervision or control of
,

C) systemic issues and financial market supervision him

Both domestic and international in nature.

(2) The Committee is authorized to submit to the Bank Board
opinions and recommendations in the areas referred to in paragraph 1, and in these cases the chairman
Committee and in his absence the Vice-Chairman of the Committee may attend the hearing
opinions or recommendations Committee of the bank Board.
Similar opinions and recommendations of the committee is entitled to submit to the Ministry of Finance
.

(3) The Czech National Bank shall notify the Committee at least twice a year on
major activities in financial market supervision in the past
period, including decisions. It will do so at the request of the Committee;
Same information duty to the request of the Committee and the Ministry of Finance and the Financial Arbiter
.

§ 45d

Report on the performance of financial market supervision

(1) The Czech National Bank annually prepares and no later than 30 June of the following year
submitted to the Chamber of Deputies, the Senate and the Government
for information on the performance of financial market supervision.

(2) Before the report on supervision must discuss its proposal
Committee, which has the right to append its comments. ".

33rd § 46 including the title reads:
| || '§ 46

Remedial Measures

(1) If the Czech National Bank finds that the person referred to in § 24 point. b)
violation of this Act, other legislation or measures issued by the Czech National Bank
requires that person to refrain from improper
process or ceased operations.

(2) The person referred to in paragraph 1 shall notify the Czech National Bank of
correct the deficiency without undue delay after he was the lack
removed, or immediately after the operation was completed.

(3) The procedure pursuant to paragraph 1 shall not apply regulations on administrative proceedings
.. "

34th Footnote. 12 is deleted.

35th after § 46 the following new § 46a to 46f, which
including headings and footnotes. 11b to 11f added:

"§ 46a

Administrative offenses in business and trading on the money market

(1) A legal entity that is not a bank or a natural person
commits an administrative offense if it breaches a prudential rule
or the conditions under which they can be traded on the money market, fixed by
§ 24 point. b).

(2) For an administrative offense under paragraph 1 shall be fined up to 1 million CZK.

§ 46b

Administrative offenses in the fulfillment of the information obligations

(1) A legal entity or a natural person referred to in § 41 paragraph.
2 commits an administrative offense by violating the obligation to submit
information or documents pursuant to § 41, or that such information or | || background is repeatedly incomplete or incorrect.

(2) For an administrative offense under paragraph 1 shall be fined up to 1 million CZK.

§ 46c

Administrative offenses in reproducing money symbols and imitations thereof

(1) A legal entity or natural person commits an administrative offense
by reproducing money symbols and imitations thereof
produces a reproduction of banknotes, coins, means of payment or security
paper denominated in crown Czech or foreign currency, or produces, sells
imports or disseminates for the purpose of sale or for other commercial purposes
subject imitates them in contravention of § 20 or a directly applicable regulation
European Communities ^ 11b).

(2) For an administrative offense under paragraph 1 shall be fined up to CZK 500 000.

(3) A person who commits an offense in reproducing money
symbols and their imitations produces a reproduction of banknotes, coins,
means of payment or security denominated in Czech korunas
or foreign currency, or produces, sells, imports or disseminates for the purpose
sale or other business purposes an object whose form imitates
in conflict with § 20 or directly applicable EC legislation

Community-11b).

(4) An offense under paragraph 3 can be fined up to CZK 500 000.

§ 46d

Administrative offenses against the circulation

(1) A legal person commits an administrative offense if it does not withdraw
counterfeit notes or coins, even though it is required to do so pursuant to § 21 or
directly applicable legal regulation of the European Communities ^ 11c) and not pass
the Czech national Bank.

(2) For an administrative offense under paragraph 1 shall be fined up to 1 million CZK.

§ 46e

Administrative offenses in payments

(1) A legal entity or natural person commits an administrative
offense by violating the obligation set directly applicable regulation
European Communities ^ 11d)

A) charge for cross-border payment same price as for the corresponding
payments effected within the Czech Republic,

B) inform customers in accordance with the directly applicable legal regulation of the European Communities ^
11e) on the prices for payments, changes to those prices and prices
further currency conversion payment related,

C) inform the customer upon request his international number
bank account number (IBAN) and its International Bank Identifier Code (BIC)

D) set out the particulars referred to in subparagraph c) a statement of account of the client or
attachment thereto.

(2) for an administrative offense under paragraph 1. a) shall be fined in the amount
5,000,000 CZK.

(3) for an administrative offense under paragraph 1. b), c) and d) is stored
fine of up to CZK 1 000 000.

§ 46f

Joint provisions on administrative offenses

(1) A legal person for an administrative delict if it proves that
made every effort that could be required to breach
legal obligations prevented.

(2) In assessing the fine legal person takes into account the seriousness
administrative offense, especially the manner of its commission and its consequences
and the circumstances under which it was committed.

(3) The liability of a legal person for an administrative tort shall expire if
Czech National Bank fails to open administrative proceedings within one year from the date
day when it became aware of, but not later than 5 years from the day
was committed.

(4) Administrative offenses under § 46a to 46e by the Czech National Bank.

(5) An appeal against the decision on an administrative offense
decided by the Bank Board.

(6) The liability for conduct that occurred in the business of a natural person
^ 11f) or in direct connection therewith, the provisions
Act on liability and sanctions to legal persons.

(7) Penalties for administrative offenses imposed by the Czech National Bank selects and
enforced by the local tax authority. Revenue from fines is income
state budget.

11b) Council Regulation (EC) no. 2182/2004 concerning medals and tokens similar to euro coins
.

Council Regulation (EC) no. 2183/2004 participating Member States
extends the applicability of Regulation (EC) no. 2182/2004 concerning medals and tokens similar to euro coins
.

11c) Council Regulation (EC) No 1338/2001 laying down measures necessary for
protecting the euro against counterfeiting and Council Regulation (EC) 1339/2001
extending Regulation (EC) 1338 / 2001 laying down measures
necessary for the protection of the euro against counterfeiting to those Member States which have not adopted
euro as the single currency.

11d) European Parliament and Council Regulation (EC) no. 2560/2001 of 19
December 2001 on cross-border payments in euro Official Journal L
344, 28/12/2001 P. 0013 - 0016th

11e) Article. 4 and 6 of Regulation no. 2560/2001.

11f) § 2 para. 2 of the Commercial Code. ".

36th after § 49 the following § 49aa, which including footnote no.
12b reads:
|| | "§ 49a

Administrative fees for acts by the Czech National Bank pursuant to a special legal regulation
^ 12b) are income to the Czech National Bank.

12b) Act no. 634/2004 Coll., On administrative fees, as amended
regulations. ".

37th in § 49b Sec. 1, second sentence, the word" bank " the words "
credit unions."

38th in § 49b after paragraph 5 the following paragraph 6 is added:

"(6) the Czech national Bank publishes official information of the Czech national Bank, which informs
example of the Bank Board's decisions on interest rates
, interpretative opinions of the Czech national Bank on conditions
for the transactions of the Czech national Bank and facts important

For people who work in the financial market. Official information of the Czech National Bank
signed by a member of the board and are published in the Gazette. ".

Existing paragraph 6, renumbered seventh

39th in § 49b, the following paragraph 8 which reads:

"(8) the Czech national Bank publishes a manner allowing remote access
copy of the Gazette, which is not considered as
Journal under paragraph 3 and on the wording of which was not even in administrative proceedings
proceedings in another appeal. ".

40th in § 50 paragraph 3 reads:

" (3) Employees of the Czech national Bank may not, without the prior consent of the Board
conduct business activities, participate in
business activities of other persons or hold offices in the statutory
and other bodies of any company.
This provision does not apply to the management of own assets and scientific, literary,
journalistic, artistic and pedagogical. In all these activities
are employees of the Czech National Bank shall be obliged to prevent
conflicts of interest or misuse of information obtained in the exercise of their functions
the Czech National Bank. ".

41st V § 50, the following paragraph 4 is added:

"(4) Employees of the Czech national Bank are obliged to observe the rules of professional ethics set
Code of ethics of the Czech national Bank, which approves
Board.".

42nd § 60a, including footnote no. 20 is deleted. Article VI





Transitional provisions first proceeding on imposing fines launched before the effective date of this Act
completes the Czech national Bank under the existing legislation.

second professional and interest organization for financial market participants suggest
within 2 months from the effective date of this Act, candidates || | to the members of the Committee for financial market (hereinafter referred to as "the Committee") pursuant to § 45a paragraph. 2
point.) of the Act no. 6/1993 Coll., on the Czech national Bank, as amended by this Act
. Budgetary Committee of the Chamber of Deputies within 4 months from the date of entry into force of this Act
of nominees chosen by the committee chairman, vice-chairman
committee and another committee member. The manner and form designing
candidates established by the budget committee without undue delay after the entry into force of this Act
and publish it in a manner allowing remote access
. Chairman of the Committee shall be convened in cooperation with the Czech National Bank
first meeting of that Committee to be held within one month after his election
.

Third The first report under § 45d of Act no. 6/1993 Coll., On the Czech National Bank
, as amended by this Act, submit to the Czech National Bank in 2006
30 June 2007.
ARTICLE VII



Authorization
Prime Minister is authorized to make in the Collection of Laws the full wording
Act no. 6/1993 Coll., On the Czech National Bank, as is clear from later
laws and the Constitutional Court ruling.
PART FOUR



Canceled Article VIII



Canceled Article IX



Canceled ARTICLE X



Canceled PART FIVE


Changing the law on pension schemes with state contribution
Article XI


Law no. 42/1994 Coll., On supplementary pension insurance with a state contribution and
on amendments to some acts related to its introduction, as amended
Act no. 61/1996 Coll., Act no. 15 / 1998 Coll., Act no. 170/1999 Coll.
Act no. 353/2001 Coll., Act no. 309/2002 Coll., Act no. 36/2004 Coll.
Law no. 237 / 2004 Coll., Act no. 257/2004 Coll. and Act no. 377/2005
Coll., is amended as follows:

First In § 2, paragraph 2 reads:

"(2) A participant may also be a natural person over 18 years
residing in the territory of another Member State of the European Union, and participants
pension insurance scheme or recipients of pension benefits under the Czech pension insurance scheme or
participate in public health insurance in the Czech Republic
that closes with a pension fund. ".

Second In § 4 para. 6 of the first sentence, the word "fortune" is replaced by
"capital."

Third In § 4 para. 6 of the first sentence the words "Ministry of Finance (hereinafter
" Ministry ") in agreement with the Securities Commission" shall be replaced
"Czech National Bank".

Fourth In § 4 para. 6, third sentence, § 6 para. 1, § 7 para. 2 second sentence, § 8 paragraph
. 2 second sentence, § 9. 2 second sentence, § 9 par. 3, second sentence, and
§ 31 paragraph. 4 the word "ministry" is replaced by "
Czech National Bank."

Fifth In § 4 para. 6 of the last sentence, § 39 par. 2 and § 39 par. 3 first sentence

Word "ministry" is replaced by "Czech National Bank".

6th In § 4 para. 7, § 5 para. 4, § 8 par. 3 first sentence and § 9. 3
third sentence, the word "Ministry" is replaced by "
Czech National Bank."

7th In § 5, paragraph 1 reads:

"(1) to incorporate and operate a pension fund require authorization. The granting of permission
decides upon written request of the founders pension fund
Czech National Bank. Before deciding on an application for authorization requests Czech
national Bank of the opinion of the Ministry of Labour and social
things. ".

8th In § 7 para. 2 first sentence, § 9 par. 2 first sentence and § 9 par. 3 sentence
first word "ministry" is replaced by "Czech National Bank".

9th In § 7 para. 3 point. a) the words "the Board"
replaced by "staff".

10th In § 7 para. 3 point. b) the words "
investment companies and investment funds, 3)" is replaced by "investment funds ^ 3) and investment companies
^ 3); it does not apply to persons to whom pension fund
form a syndicate ".

Footnotes Nos. 3 and 3a added:

"3) § 4 and 5 of the Act no. 189/2004 Coll., On Collective Investment.

3a) § 14-19 of the Act no. 189/2004 Coll.".

11th In § 7 para. 7, the words "Ministry of state supervision
according to § 42 is not affected by" replaced by "the Czech National Bank in
supervision over the financial market and the Ministry of Finance (hereinafter
'ministry ') in the exercise of state supervision pursuant to § 45a
thus not affected. "

12th In § 8. 1, "a law governing the exercise of this function for
investment company and investment fund ^ 7)" are replaced by "
legal regulations governing the exercise of this function for investment companies and investment fund
^ 7) ".

Footnote. 7, reads:

"7) Act no. 189/2004 Coll.".

13th In § 8 par. 2, "a ministry in agreement with the Securities Commission Securities
" is replaced by "Czech National Bank".

14th In § 8 par. 3, second sentence, and § 43 para. 1 point. d) Section 3
words "Ministry decided" replaced by "the Czech National Bank decided."

15th In § 9. 2, the last sentence is deleted.

16th In § 9. 3 last sentence reads: "Before deciding on a proposal to amend
pension plan, the Czech National Bank of opinion
Ministry of Labour and Social Affairs.".

17th In § 12 at the end of paragraph 1 the sentence "With one pension fund
subscriber can conclude only one contract, it does not apply in the case
contracts concluded under § 19 par. 3 point. C).".

18th In § 12 para. 2 the words "Civil Code concerning insurance contracts
^ 8)" is replaced by "special regulation governing the insurance contract
^ 8)."

Footnote. 8 reads:

"8) Act no. 37/2004 Coll., On insurance policies and amending related laws
(Insurance Contract Act).".

19th In § 23 par. 3 of the first sentence and the second sentence, the words "and
state contribution to ministry" are deleted.

20th In § 30 paragraph 1, including footnote no. 8d reads:

"(1) A pension fund shall submit a quarterly request for state
contribution jointly for all participants, which the state contribution under §
29th Application includes data on a data carrier.
Application is submitted ministry in the calendar month following the end of the calendar quarter
. the request is processed using
information system Department, operating under the conditions laid down
special legislation 8d). in the case of an incomplete application
or incorrect data makes pension fund repair requests.
repair application shall be submitted together with the application for state contribution for any
following calendar quarter. During the period before the application
supplemented or corrected period referred to in paragraph 2 in respect of subscribers
which the correction request relates is not running.

8d) Act no. 365/2000 Coll., on public administration information systems and
amending certain other acts as amended by Act no. 517/2002 Coll. ".

21st In § 30 paragraph. 4 point. b) the number "60" is replaced by "to 6".

22nd In § 30, after paragraph 4 the following paragraph 5 is added:

"(5) the repayment of state contribution to the pension fund
prepare a report, which includes data on a data carrier. Returning
state contribution amounts is performed using the information system

Ministry of the tenth day of each calendar month. When returning
state contribution amounts ministry will examine whether the reimbursement is not
higher than the amount remitted to the participant. ".

Former paragraphs 5 and 6 shall be renumbered 6 and 7

23rd in § 30 paragraph 6 and 7, including footnote no. 9 added:

"(6) If a pension fund draws state contributions at a higher rate than
belonged, and in delay with the fulfillment of the obligation to repay state
contribution within the periods specified in paragraph 3, it is obliged to pay a penalty
amounting to 1 per mille of the unjustly drawn amount of the state contribution for each day of delay
. The penalty shall be calculated from the day following the expiry of these periods
until the day they were wrongly drawn amount of the state contribution
returned to the Ministry. A penalty of 1 per mille of the amount of state
contribution, which were used to settle claims by the pension fund
required to pay for each day of delay, if these amounts
state contribution have not been returned to the Ministry within the deadlines specified in paragraphs | || 4th The penalty shall be calculated from the day following the expiry of the deadlines until
day when the amounts were returned to the Ministry of the state contribution.
Penalties stipulated by the ministry decision; penalties levied by the locally
competent financial authority under the law regulating the administration of taxes and fees
^ 9).

(7) The Ministry may determine the manner of administration and the requirements
applications for state contribution pursuant to paragraph 1 and the method
filing requirements and protocol on the return of state contributions by
paragraph 5, if it was so far way
pension fund challenged.

9) Act no. 337/1992 Coll., On administration of taxes and fees, as amended
regulations. ".

24th in § 31 para. 2 and § 43 para. 1 point.), the word "ministry"
replaced by "the Czech national bank."

25th in § 31, paragraph 5, which including footnote no.
9a reads as follows:

"(5) A pension fund may entrust the management of its assets
third party; rules on the conditions for entrusting the assets of the collective investment
for management under a special law on collective investment
applies similarly-9a).

9a) § 78 of Act no. 189/2004 Coll. ".

26th in § 33 para. 5, the words" mutual fund or investment fund
^ 11c) "is replaced by" collective investment fund ^ 11c). "

Footnote. 11c reads:

" 11c) Decree no. 270/2004 Coll., on the determination of fair value of assets and
liabilities collective investment fund and the determination
current values ​​of shares or participation certificates of collective investment
.. "

27th in § 34 para. 6 of the word 'ministry and the securities Commission" | || replaced by "the Czech national Bank."

28th in § 36 par. 3, "ministry and the securities Commission"
replaced by "the Czech national Bank, the Ministry".

29th in § 37 paragraph 4 is repealed.

Former paragraph 5 shall be renumbered 4.

30th in § 38 par. 2, "a ministry state supervision
or an application for state contribution "is replaced by" Czech national Bank
in the performance of financial market supervision or in the exercise of the ministry
state supervision in connection with the provision and return
state contribution (§ 45a) " .

31st In § 39 par. 4, the words "Ministry after consultation with the Securities Commission Securities
" is replaced by "Czech National Bank".

32nd The headline above the designation § 42, the words "STATE OVERSIGHT"
replace the word "supervision".

33rd § 42 reads:

"

§ 42 (1) The activity of pension funds and depositaries under this Act
subject to supervision by the Czech National Bank. State Supervision in
extent specified in § 45a exercised by the Ministry. control permissions
financial and other authorities under special laws that do not affect
.

(2) In exercising supervision, the Czech national Bank oversees compliance with this
Act, special laws, statutes and pension plan, as well
decisions issued by the Czech national Bank and seeks to protect the participants.

(3) In exercising supervision and state supervision, the Czech national Bank and the Ministry
provide each other with all the information and findings
which may be relevant for the exercise of their responsibilities. the fulfillment of mutual obligations
information is not covered by the duty of confidentiality.


(4) In exercising supervision, the Czech National Bank require
pension fund about its activities and to the extent required for the performance
supervision. Authorized employees of the Czech National Bank in exercising supervision
entitled to participate in the proceedings of the pension fund and
enter the premises of the pension fund.

(5) The bodies, their members and employees of the pension fund are required to submit
Czech National Bank had requested documents and written
necessary for the supervision of pension funds and to furnish all the necessary information
in writing or oral form.

(6) Pension Fund shall

A) submit to the Czech National Bank annually, by January 31,
list of shareholders indicating the data requested by a special legal regulation
^ 8a)

B) notify the Czech National Bank of any change in the list of shareholders within
10 days after entry of the change in the list of shareholders

C) submit to the Czech National Bank decision of the registry court for registration
change or expiration of recorded facts without undue delay after
registration in the commercial register.

(7) The Czech National Bank maintains a list of all pension funds and publishes
a manner allowing remote access. ".

34th in § 43 para. 1," the ministry during state supervision "
replaced by "the Czech national Bank in exercising supervision."

35th in § 43 para. 1 point. b) the words "Ministry must"
replace the words "Czech national Bank must" and 'laid down by the Ministry "is
replaced by" the Czech national Bank. "

36th in § 43 para. 2," a ministry learns "is replaced
" Czech national Bank learned ".

37th after § 43 is inserted designation "CHAPTER ELEVEN" and the title "
ADMINISTRATIVE OFFENCES."

38th heading of marking § 43a shall be deleted.

39. § 43a to 43c, including the title added:

"§ 43a
Offences


(1) A member of the pension fund commits a misdemeanor by the property
pension fund buys a thing whose value exceeds the amount of CZK 5,000, or a pension fund
thing whose value exceeds the amount of CZK 5,000,
sells.

(2) A member of the pension fund or an employee pension fund
commits an offense that

A) violates the confidentiality obligation under § 7 para. 7, or

B) provide for the supervision and state supervision over the activities of the pension fund
Czech National Bank or the Ministry
false information.

(3) An offense under paragraphs 1 and 2 can be fined up to CZK 100 000.

§ 43b

Administrative offenses of legal persons

(1) A legal person commits an administrative offense by running
pension insurance without a license pursuant to § 5.

(2) A pension fund commits an administrative offense by

A) enters into a contract with a natural person who can be the participant by
§ 2

B) uses shares representing shareholder's ownership interest
pension fund to secure the obligations of the pension fund (§ 4 para. 8)

C) contrary to the provisions of § 8. 5 has established a current account at another bank
than Depository

D) familiar before the conclusion of a future party to the Statute and
pension plan (§ 13)

E) informs the parties in writing of changes to the pension plan that
relating to entitlements and benefits from employers (§ 14 para. 3)

F) the party does not pay supplementary pension benefits within the time and manner prescribed
pension plan or agreed upon with the board
(§ 20 para. 2)

G) participant fails to transfer funds into pension insurance with another pension fund
within the period specified in § 24 para. 2

H) informs the participants according to § 26 par. 1 or does not disclose or report
participants according to § 26 par. 2 or make available the list of members
pension fund's board and a list of shareholders pension fund
way according to § 26 paragraph. 3,

I) fails to submit an application for state contributions within the time and manner
according to § 30 paragraph. 1

J) return to the state budget wrongfully remitted state contributions
deadlines according to § 30 paragraph. 3, or return to the state budget amounts
state contribution under § 30 paragraph. 4

K) dispose of their property in a manner that is contrary to the interests of participants
(§ 31 para. 3)

L) immediately informs the Czech National Bank that it is not able to cover

Rights to benefits from the pension insurance, or fails to take action to remedy
according to § 31 para. 2

M) exercises an activity which is not directly related to pension
supplementary insurance (§ 32)

N) means placing a pension fund in contravention of § 33, or acts
conflict with § 31 para. 5

O) means placing a pension fund in breach of limits according to § 34 paragraph
. 1-4 or fails to immediately notify the Czech National Bank
exceeding these limits,

P) purchase shares of another pension fund or issues bonds in contravention
with § 34 para. 7

Q) publish a report on the management or information management in
cases under § 36 para. 1

R) impose or neuschová documents related to pension schemes
participant for the period specified in § 37 para. 4

S) provide information concerning the individual participant
inconsistent with the provisions of § 38 par. 2

T) fails to submit the Czech National Bank's register of shareholders pursuant to § 42 para. 6
point. a) or inform the Czech National Bank of
change in the list of shareholders in accordance with § 42 para. 6 point. b)

U) fails to eliminate the deficiencies identified in the supervision
or state supervision or fails to inform the Czech National Bank or the Ministry of
implementation of adopted measures or

V) exchanged by a specified deadline members of pension fund bodies.

(3) The depositary commits an administrative offense by

A) fails to eliminate the deficiencies identified in the course
supervision or

B) does not inform the Czech National Bank for the implementation of measures adopted.

(4) for an administrative offense under paragraph 1 shall be fined up to 20 million CZK
for an administrative offense under paragraphs 2 and 3 fine up to 5 million CZK.

§ 43c
Common provisions


(1) A legal person for an administrative delict if it proves that
made every effort that could be required to breach
legal obligations prevented.

(2) In assessing the fine legal person takes into account the seriousness
administrative offense, especially the manner of its commission and its consequences
and the circumstances under which it was committed. The amount of the fine imposed on a pension fund
will reduce part of the profit that is distributed according to § 35
based on the decision of the General Meeting.

(3) In determining the value of the item specified in § 43 paragraph. 1 is based on the price
at which the item, which was bought or sold, the time and place
execution of purchase or sale, and if no such value
to determine, based on the reasonable cost of acquiring the same or similar things
.

(4) The liability of a legal person for an administrative tort shall expire if
administrative authority has initiated proceedings within 1 year of the date when it became
but no later than 3 years after the date on which it was committed .

(5) Administrative offenses dealt with in the first instance

A) the Ministry, in the case of administrative offenses specified in § 43b Sec. 2 point.
I) and j)

B) The Czech National Bank or the Ministry, in the case of administrative offenses
specified in § 43 paragraph. 2 and § 43b Sec. 2 point. a) au)

C) Czech National Bank, in the case of other administrative offenses.

(6) For administrative authorities referred to in paragraph 5 point. b) discuss
administrative offense specified in § 43b Sec. 2 point. a) the administrative authority
which will initiate administrative proceedings first. If the administrative proceeding initiated by
each of these bodies on the same day administrative offense
discuss the Czech National Bank.

(7) Penalties for administrative offenses levied by the locally competent financial authority
. Revenue from fines is the income of the state budget. ".

40th § 43d and 43e including the heading and footnotes. 13f and 13 g
deleted.

41st Above marking § 45a is inserted designation "CHAPTER TWELVE" and the title
"state oversight of the state contribution."

42nd § 45a including footnote. 13f reads:

"45a | ||
(1) The activity of pension funds and depositaries under this Act shall be subject to state supervision
ministry in the range of duties under this Act
pension fund in connection with the provision and return
state contribution.

(2) In exercising state supervision ministry oversees compliance with this Act and
pension plan and seeks to protect the participants.

(3) In exercising state supervision department verifies the lists of participants
all pension funds to state contribution for

Only once per participant.

(4) In exercising state supervision, ministry shall be obliged to check whether
natural person who is a participant meets the conditions set out in § 2 paragraph
. 1 and that the pension schemes will not fade death of the participant.
To fulfill those obligations Ministry is authorized to require
Interior Ministry reviewed the information system of population records

A) the name or names, surname, identity number and expiration date
residence participant, if a citizen of the Czech Republic,

B) the name or names, surname, identity number and type of residence
participant, if the foreigner

C) the date of death of the participant-13F).

(5) Examination of the data referred to in Subsection 4. a), b)
Ministry is entitled to require four times per calendar year, data verification
referred to in Subsection 4. c) twice per calendar year.
Data referred to in paragraph 4, the Interior Ministry upon request
Ministry in electronic form under a special law regulating
electronic signature or on a data carrier.
To verify the current status data to the extent specified in paragraph 4
Ministry is authorized to obtain information from records information system
population in a manner facilitating remote access.

(6) In order to verify compliance with the conditions of a natural person to be a party
according to § 2 para. 2, the Ministry shall also examine whether a natural person is
participate in public health insurance in the Czech Republic.
To fulfill those obligations Ministry is authorized to require
four times per calendar year verifying data on the name, or names,
name, social security number and date of termination of the participation of the insured to
public health insurance in the Czech Republic from the registry insurees
Headquarters led by General health insurance Company of the Czech Republic by
special legislation 1AC). The data referred to in this paragraph provides
General Health Insurance Company of the Czech Republic on the basis
request of the Ministry in electronic form under a special legal regulation governing
electronic signature or on a technical data carrier
.

(7) In exercising state supervision department verifies eligibility
participant's benefit pension scheme and for its payment and the emergence
claim on the transfer of contributions, including state contribution under § 24th

(8) In exercising state supervision department stores to a pension fund or depository
eliminate irregularities within a specified period of time and that
inform the ministry about the progress of actions taken.

(9) Employees of the Ministry are obliged to keep confidential
facts they have learned during state supervision;
§ 7 para. 7, third sentence shall apply mutatis mutandis here.

(10) In exercising state supervision of the Ministry of the pension fund and
depositary shall apply mutatis mutandis to § 42 para. 4 and 5.

13f) § 8 of Act no. 133/2000 Coll., On register of population and birth numbers
amending certain Acts (Register of Population Act). ".

43rd in § 46 paragraph 2, including footnote no. 14 reads:

"(2) Unless this Act stipulates otherwise, the decision
Czech national Bank and the Ministry of administrative Procedure ^ 14). About
appeal against a decision of the Czech National Bank in the first instance decides
Bank Board of the Czech National Bank. Unless the decision was
fined, brought decomposition does not have suspensive effect.

14) Act no. 500/2004 Coll., Administrative Procedure. ".

44th in § 46, the following paragraph 4 is added:

" (4) The Czech National Bank informs the Ministry of
its final decisions under § 5 para. 1, § 9. 3 and § 43 para. 1 point. d)
this Act. ". ARTICLE XII





Transitional Provisions first current activities of the Ministry arising from laws and other
legislation concerning pension funds, passes
date of effect of the Act on the Czech national bank. this does not apply in the case of
things which the Ministry under the Act no. 42/1994 Coll., on supplementary pension insurance with state
contribution and amendments to some laws
related to its introduction, as amended, effective from the date of entry into force of this Act
.

second classification of employees of the Ministry to work in the organization

Department Office of the State Supervision in Insurance and Pension Funds
to the effective date of this Act become employees
Czech National Bank. The rights and obligations of labor relations these
staff transferred from the Ministry to the Czech National Bank.
Provisions of the first and second sentences shall not apply to employees of the Ministry
who on the effective date of this Act shall be executed
state supervision in the field of State aid
pension insurance according to Law no. 42/1994 Coll. pension insurance with a state contribution and
on amendments to some acts related to its introduction, as amended
effective from the date of entry into force of this Act.

Third The right to manage assets owned by the Czech Republic
with the exception of real estate, which was the effective date of this Act
Administration of the Ministry and which are necessary for the performance of supervisory
Czech National Bank pursuant to Law no. 42/1994 Coll.
pension insurance with a state contribution and on amendments to some laws
related to its introduction, as amended, effective from the date of entry into force of this Act
shall expire on the date of entry into force of this Act.
These assets becomes effective date of this Act, the property
Czech National Bank and the liabilities related to these assets become
effective date of this Act, the obligations of the Czech National Bank.
Information System "State supervision of pension funds'
operated by the Ministry under a special law, the property
Czech National Bank on the date of entry into force of this Act does not happen.
Details establishes an agreement between the Czech National Bank and the Ministry.

Fourth Decisions in administrative proceedings issued by the Ministry or by the Commission before
effective date of this Act unless it is a matter within the competence of the Ministry
according to law no. 42/1994 Coll., On pension insurance with state contribution and
Changes some acts related to its introduction
, as amended, effective from the date of entry into force of this Act, shall be deemed
decision issued by the Czech national Bank and
rights and obligations arising under these decisions are not affected.
If such a decision were fined, which has not been paid,
in its collection and enforcement pursuant to Act no. 42/1994 Coll.
On supplementary pension insurance with state contribution and changes in some
laws related to its introduction, as amended, effective from the date of entry into force of this Act
. If a decision of the Ministry or Commission
before this Act was repealed and the case was returned for reconsideration
is it relevant Czech National Bank, which progresses by
previous legislation.

Fifth List of pension funds led by the Ministry under the previous legal
adjustments resulting from the effective date of this Act, the Czech National Bank.

6th Proceedings conducted by the Ministry or by the Commission and initiated prior to the date of effectiveness of this Act
completes the Czech National Bank
under the previous legislation. This does not apply if it is a matter within the competence of the Ministry
according to law no. 42/1994 Coll., On pension insurance with state contribution
on amendments to some acts related to its introduction,
amended effective date of the entry into force of this Act. If there is
proceedings pursuant to the first sentence or the second fined in its collection and
enforcement pursuant to Act no. 42/1994 Coll., On pension
insurance with a state contribution and on amendments to some laws || | related to its introduction, as amended, effective from the date of entry into force of this Act
.

7th If it was before the effective date of this Act, a decision
Ministry or the Commission against which the appeal was filed,
decided by the Board of the Czech National Bank under previous legislation.
This does not apply if it is a matter within the competence of the Ministry under the Act no.
42/1994 Coll., On supplementary pension insurance with a state contribution and changes
some acts related to its introduction, as amended effective | || effective date of this Act. If the Board such
cancel the decision and return the case for reconsideration is this new
discuss relevant Czech National Bank, which will decide by
previous legislation. A retrial and the review proceedings concerning

These decisions decide the effective date of this Act
Czech National Bank under the previous legislation.

8th Effective date of this Act, the Czech National Bank becomes
instead of the Ministry or the State party, in which it acts as a participant
ministry in connection with the exercise of state supervision over the operation
pension schemes and procedures in which the ministry | || Finance in connection with the exercise of state supervision over the operation of pension schemes
acts of the state. Financial liabilities that
such proceedings incurred by the Czech National Bank will pay the state.
This also applies to the obligations that the Czech National Bank incurs as a result
proceedings commenced after the effective date of this Act and relating to operations
ministry under the previous legislation. This does not apply in the case
things about which the Ministry under the Act no. 42/1994 Coll., On
pension insurance with state contribution and changes in some
acts related to its introduction, as amended, effective from the date of
entry into force of this Act.

9th The effective date of this Act shall cease attorney granted
Ministry or by the Commission in connection with the exercise of state supervision over the operation
pension scheme, unless it is a matter within the competence of the Ministry
by Law no. 42/1994. on supplementary pension insurance with a state contribution
on amendments to some acts related to its introduction
, as amended, effective from the date of entry into force of this Act.

10th The obligation to maintain confidentiality of persons by previous legislation
not affected by this Act.

11th Deadlines which commenced before the effective date of this Act
by existing legislation, are not affected by this Act.
ARTICLE XIII



Authorization
Prime Minister is authorized to make in the Collection of Laws the full wording
Act no. 42/1994 Coll., On supplementary pension insurance with a state contribution and
on amendments to some acts related to its introduction, according || | z amended.
PART SIX


Amendment to the Act on Credit Unions
Article XIV


Law no. 87/1995 Coll., On Credit Unions and some
related measures and supplementing Act of the Czech National Council No.
. 586/1992 Coll., On income taxes, as amended, in
amended by Act no. 100/2000 Coll., Act no. 406/2001 Coll., Act no. 212/2002 Coll
. Act no. 257/2004 Coll., Act no. 280/2004 Coll., Act no. 377/2005 Coll
. and Act no. 413/2005 Coll., is amended as follows:

First In § 1 para. 1 the words "Office for the Supervision of Credit Unions
(hereinafter the" Office ")" is replaced by "Czech National Bank".

Second In § 1 para. 6 letter c) shall be deleted.

Existing letter d) is renumbered as point c).

Third In § 1 para. 7, the word "ordinance"; replaced by "measures
Czech National Bank."

Fourth In § 1 para. 8, the first sentence, including footnote no. 2 repealed.

Fifth In § 1a para. 1 point. f) and g) the word "supervision" is replaced by
"oversight".

6th In § 1a para. 1 point. l) the word "supervision" is replaced by
"supervision" and the word "supervision" by "sight".

7th In § 1a para. 2, § 2 paragraph. 1, § 2b paragraph. 5, § 2d paragraph. 3 at both locations and
paragraph. 4, § 2e para. 2 in both places, § 2 g paragraph. 1 3, § 2h
paragraph. 1, para. 2 and in all places, paragraph. 3, § 2i, § 4b paragraph. 3 and 4, §
paragraph 7. 7 in both places, § 8a. 2 and 4, § 22 paragraph. 3,
both places, para. 4, para. 5 in both places, para. 6 and Article.
7 at both locations, § 22a paragraph. 1-3, § 27d paragraph. 3, § 27f paragraph. 2 and § 28 paragraph
. 1, 11 and 12, the word "Office" is replaced by "Czech National Bank".

8th In § 1a para. 2, the word "entitled" is replaced by "empowered".

9th In § 2 paragraph 4 reads:

"(4) An application for the grant or amend an authorization decision
Czech National Bank after assessing the conditions of the permit or permission to change
six months from the date of commencement of administrative proceedings and in this period the decision delivered
. Where the claim is complete and the Czech national Bank has asked its
supplement decide Czech national Bank within 12 months of initiation of administrative proceedings
a decision by the deadline to deliver it. If there was
Czech national Bank requested completion of the application, the application is not supplemented
complete or fails to adhere to the time limit laid down in Czech

National Bank for its completion is the Czech National Bank may
administrative procedure for granting permission to stop. Czech National Bank
before issuing a decision on granting a permit or change
seek the opinion of the Ministry of Finance. Before deciding on an application for a permit
consult the Czech National Bank of its intention to supervisor
credit unions of the State, if required by an international treaty
.. "

10th in § 2 paragraph. 7 point.) the words "or whose conviction for these offenses
has been spent or is it some other reason looks like
not sentenced," are deleted.

11th In § 2a. 7 point. d) the word "person," the words "u
which have been introduced or receivership."

12th in § 2 at the end of paragraph 8 is replaced by a a comma and
letter d), which, including footnotes Nos. 3c reads:

"d) it is the liquidator who fulfilled a legal obligation to file for bankruptcy due to
indebtedness liquidated companies ^ 3c).

3c) § 31a paragraph. 4 point. b) Act no. 513/1991 Coll., the Commercial Code. ".

existing footnote. 3c is referred to as a footnote
no. 3d, including the reference to footnote .

13th in § 2, after paragraph 10 the following paragraph 11 is added:

"(11) the Czech national Bank decree provides a list of documents and particulars to prove
| ||
A) the competence and credibility of persons elected as members
board of directors, supervisory committee and credit committee and other persons who
are designed to control functions in the credit union pursuant to paragraph 6
point. a)

B) of natural or legal persons with qualifying holdings
to credit union members and with other Member contribution to the exercise of the rights
member in accordance with paragraph 6 point. d). ".

existing paragraph 11 shall become paragraph 12.

14th in § 2a. 12," The Office "is replaced by" Czech National Bank
"on all locations and the word "Office" is replaced by "
Czech national Bank."

15th in § 2a, the following paragraph 13 is added:

"(13) the Czech national Bank is entitled to request from the records
criminal records concerning natural persons who are founders
credit unions, members of a credit union or
designed as the controlling entity. ".

16 . In § 2b paragraph 3 reads:

"(3) Any natural or legal person intending to acquire qualified
participation in a credit union or increase this participation so that it reaches
least 20%, 33 % or 50% of capital or voting rights, or otherwise
become a person controlling a credit union is obligated
ask for prior consent of the Czech national bank.
To achieve higher threshold than that for which he was previously granted consent, it is necessary to award new
consent. It has the same duty as the person acting in concert.
Natural or legal person who intends to acquire a qualifying participation in a credit union or
this participation increase, or persons acting in concert (hereinafter
"the person concerned") are also required to demonstrate eligibility under § 2 || | paragraph. 6 point. d). Documents proving this character must be
attached to the request. The decision on the application, the Czech National Bank to
90 days of receipt of a complete application. Unless the Czech National Bank
decision within this time limit, at least in the first instance, the consent was granted
. The decision on the prior consent of the Czech National Bank
set a time limit within which the person concerned is entitled to acquire a qualifying holding
. Czech National Bank permission not grant
event that the qualified participation of the person concerned was contrary to the provisions of §
1. 6 point. b). The parties are all concerned
person. A person who wishes to reduce their qualifying holding
credit union, which represents at least 50%, 33%, 20% or 10%
capital or voting rights, under these limits, or
otherwise lose the status of a person controlling credit union is obligated
this immediately notify the Czech national Bank.
The same obligation applies to persons acting in concert. ".

17th paragraph in § 2b. 5 in the first sentence, the word" entitled "is replaced by
" entitled "to the end of the first sentence of the text the words "rights
require that a meeting of members and the right to petition the court to declare

Invalidity of the resolution, Member Meeting. "

18th paragraph in § 2b. 5, the first sentence following the sentence" may be suspended only
performance of all of the above rights. ".

§ 19. in paragraph 2b. 5 in the last sentence, the words "filing an appeal"
replaced by "the appeal".

20th paragraph in § 2b. 6, the first sentence the words "Office suspended the law
attend the members' meeting and vote "is replaced by"
Czech national Bank has suspended the rights referred to in paragraph 5 ".

21st paragraph in § 2b. 6, in the last sentence, the words" the right to participate Member
meeting and to vote at the Office "is replaced by" the rights referred to in paragraph 5
Czech national Bank. "

22nd paragraph in § 2b. 7, § 6 para. 10 and § 28a the word "Office"
be replaced by the words "Czech national bank."

23rd in § 2b paragraph. 7, the words "these changes are subject to the procedure referred to in paragraph 3
" replaced by "during these changes, and conduct other
members are exceeded or reduced limits referred to in paragraph 3 ".

24th in § 2d paragraph. 1, § 2e para. 2 second sentence, § 2i, § 4b paragraph. 3
at both locations and paragraph. 4, § 5a. 3 and 4, § 13 para. 4 and § 25a paragraph. 2
word "Office" is replaced by "Czech national Bank".

25th In § paragraph 2d. 2 point. e) the words ", to demonstrate these data
apply § 17 paragraph. 1, second sentence" is replaced by "which are
name or names and surname, address, social security number, unless || | a date of birth. "

26th In § 2e para. 2 first sentence, § 6 par. 6, § 7 para. 7, § 8a.
2 in both locations paragraph. 4 and § 22 paragraph. 7, the word "Office" is replaced | || words "Czech national Bank".

27th § 2f reads:

"§ 2f

If a credit union intends to operate on the territory of the host state
scope of the authorization granted by the Czech National Bank
without establishing a branch if their performance does not have the character || | sustained economic activity, notify its intention in writing the specifications
activity carried out at least 60 days before commencing that activity
Czech national Bank. the Czech national Bank shall notify the supervisory authority of the host country's intention
credit unions to operate within its territory to
30 days from receipt of a complete notification of the credit union. ".

28th In § 2j paragraph. 1 introductory part, the words "entrepreneurship"
deleted.

29th In § 2j paragraph. 1 final, the words "Office is obliged to request
" is replaced by "the Czech National Bank require" and the words
"or supervision" shall be deleted.

30th In § 2j paragraph. 2, the word "supervised" is replaced by
"supervised".

31st In § 3 para. 1 point. h) the word "currency" the words "
in cash."

32nd In § 3, the following paragraph 5 is added:

"(5) Performance of activities of credit unions in accordance with paragraph 1 for the state and its
organizational units, higher local government units and communities
legal persons established by them or in which the State, higher territorial self || | units or village exclusive shareholders, and other public institutions
managing public funds is not conditional on their membership. ".

33rd In § 4b at the end of paragraph 3 the sentence "The decision of the Czech National Bank
within 90 days of receipt of a complete application.".

34th In § 5a. 3, the word "who" is replaced by "who".

35th In § 5ase at the end of paragraph 3 the sentence "Member
decision to cancel the meeting, the merger and division of the credit union
without prior consent of the Czech National Bank is invalid.".

36th § 6 para. 5 point. a) after the word "union" the words "or
bank" and the end point of the text. a) the words "or banks."

37th In § 6, the following paragraph 11 is added:

"(11) The members of the elected bodies of credit unions who have violated their
duties as a member of an elected body of a credit union
arising for them from laws or statutes, they shall be jointly and severally liable for
damage that give creditors a credit union by
a result of that breach of duty those members of elected bodies
credit union is unable to pay its debts. ".

38th In § 7 para. 5, the last sentence is replaced by "A member of the Board
credit union is incompatible with the duties of
management or supervisory bodies or functions of the Director or a proxy in
another legal entity which is an entrepreneur . '.

39th In § 8 par. 2 point e) deleted.


Existing letters f) to j) shall be designated as letters e) to i).

40th In § 8, paragraph 3 reads:

"(3) For the purposes of this Act subordinated debt means credit, loan or deposit
lump sum paid by a natural or legal person
credit union and the contract on subordinated debt
must meet the requirements set out in paragraph 4. ".

41st In § 8, paragraph 4, including footnote no. 10a reads:

"(4) For the purposes of inclusion of subordinated debt into equity
must meet the following criteria:

) the contract on subordinated debt contains a condition of subordination by
special Act 10a) || |
b) the amount of the subordinated debt will be transferred fully to the cooperative
union,

c) subordinated debt is not directly or indirectly funded by
credit union

d) subordinated debt is unsecured,

e) subordinated debt has a maturity period of at least 5 years from the date of its
transfer to the account of the credit union, the principal
subordinated debt is payable only once. If the contract on subordinated
debt includes a provision under which you can repay this debt before the agreed maturity date
(call option), this right may be exercised
first 5 years after the date of transfer of the amount of subordinated debt to
relevant account

f) subordinated debt may be repaid or redeemed before maturity date
under point e), if the intention to repay or redeem subordinated debt
was announced and documented description of the impacts on the credit union Czech national
Bank and Czech national Bank approved the early repayment of
period of one month from the date of full proof, or in this period did not inform
to extend the deadline by a maximum of one month,

G) agreement on subordinated debt agreement includes contractual partners
about that set-off lender of subordinated debt against his
obligations to the credit union is not permissible

H) receivable from subordinated debt can not accept a credit union
as collateral

I) subordinated debt is recorded as part of capital if the Czech National Bank
submitted a draft agreement on subordinated debt and
Czech National Bank issued within 90 days of receipt of all documents necessary for decision
agreement with the terms of subordinated debt
specified in the contract governing the criteria set out in points a) to h).
Any change in the terms of the subordinated debt affecting
criteria specified in subparagraphs a) to h) shall be subject to approval by the Czech National Bank.
Such change contracts on subordinated debt without the consent of the Czech National Bank
is invalid from the outset.

10a) § 34 par. 1 of Act no. 190/2004 Coll., On Bonds. ".

42nd in § 8 after paragraph 6 the following paragraph 7 is added:

"(7) If the contract on subordinated debt includes a purchase option, subject
debt is reduced for the purpose of determining the capital during the last 5 years
before the agreed maturity date only in that case, if interest rates increase
subordinated debt in the event of non-use purchase option
is not more than 1.5% pa If you agreed to increase the interest rate is higher than
1.5% pa, the amount of subordinated debt for purposes of determining capital
reduced during the last 5 years before, when the first purchase option may be to use
. Subordinated debt was reduced in both cases under paragraph 6 ".

Former paragraphs 7-9 become paragraphs 8 to 10

43rd in § 8. 8, the words" point . a) to g) "is replaced by" point. a)
f) "and the words" point. h) to j) "is replaced by" point. g) to i). "

44th in § 8 paragraph. 9, the words" point. f) ag) "is replaced by" point. e) a
f) ", the words" point. a) to e) "are replaced by" point. a) to d) "and the words
" point. h) to j) "is replaced by" point. g) to i). "

45th in § 8, at the end of paragraph 10 the sentence"
credit union may acquire a claim linked condition of subordination [paragraph 4 point.
)] To another credit union, bank, financial institution or other person having
qualifying participation in a credit union
alone or acting in concert with another person. ".

46th In § 8a. 2, the word "who" is replaced by "that"
and the word "entitled" is replaced by "empowered".

47th in § 8a. 2, § 23 para. 1 and § 28 para. 1 point.) the word
"Office" is replaced by "Czech national Bank".


48th In § 8a. 4 second sentence, the words "laid down by decree" is replaced
words "The Czech National Bank decree".

49th In § 11 para. 1 first sentence, the word "observe" the word
"in particular", the word "market" is deleted at the end of the text sentence shall be added
words "and the rules of internal management and control system ".

50th In § 11 para. 1, second sentence, the word "ordinance" is replaced
"the Czech National Bank."

51st In § 13 para. 1 introductory part, the words "organ of state
Administration" are replaced by "Czech National Bank".

52nd In § 13 para. 2, "a proposal from the Office" is replaced by "proposal
Czech National Bank" and the words "Office action" is replaced by "
measures imposed by the Czech National Bank."

53rd In § 13 par. 3 of the second sentence deleted.

54th In § 13 paragraph 6 reads as follows:

"(6) The liquidator of a credit union appoints and dismisses the proposal from the Czech National Bank
court. The liquidator may be the only person meeting
conditions of integrity and professional competence pursuant to § 2a. 7-10 and that
or she has had a special relationship with the credit union. in the case
withdrawal of authorization pursuant to § 28h 28 grams and can not be appointed liquidator
person who, in the past 5 years, conducted an audit or otherwise
involved in the processing and bookkeeping cooperative union. ".

55th In § 13, the following paragraphs 7-9 are added:

"(7) The court shall decide on the Czech National Bank for the appointment and dismissal
liquidator within 24 hours of submission.
Decree shall be published on the day it was issued on the official board of the court. Effects appointment
liquidator and the liquidator appeals occur publication of the decree on the official board
court that issued the order. this moment is the resolution
effective to everybody. the resolution shall be delivered to the Czech national Bank, or odvolanému
appointed liquidator and cooperative Savings.
against the resolution may be appealed only participant in the previous sentence.

(8) the amount of remuneration of the liquidator and the maturity stipulated by the Czech national Bank
taking into account the scope of activities of the liquidator. Determining the amount
remuneration of the liquidator and the maturity date is not a decision in administrative proceedings
. When determining the remuneration of the liquidator with the Decree of the Ministry of justice
issued pursuant to § 71 para. 9 of the Commercial Code apply.
of cash expenditures of the liquidator and his reward is paid out | || assets of the credit union. In the event that the assets of the credit union
insufficient to cover the reimbursement of the cash expenditures of the liquidator and the liquidator
rewards, pay amounts relating to remuneration of the liquidator and his
cash expenses of the Czech National Bank, which thus have a claim against
credit union in the amount paid.

(9) The liquidator shall submit to the Czech National Bank without undue delay
financial statements and documents processed during the liquidation in accordance with
Commercial Code, a notice issued under § 27 para. 2
additional requested data , documents and information. ".

55th § 13a reads:

" § 13a

(1) Credit unions that are parties
payment systems operating in accordance with a special law or payment systems
which operates the Czech National Bank, to the Czech Republic
transferred to other participants of the payment
systems monetary funds in the Czech currency by individual items created
on their own instruction or instruction of their clients.

(2) If a credit union is a participant in the payment system
operated by the Czech National Bank, led her Czech National Bank on the basis of a contract
interbank payment account in Czech currency.
Account interbank payments can be subject to enforcement
or precautionary measures. ".

56th Under § 13a is inserted § 13b, added:

" § 13b

(1) If a credit union in the Czech Republic fails to charge
amount in the Czech currency or use the bank in accordance with
client command and thereby caused an error in billing, it is obliged to fix
corrective settlement. This credit union is required without delay
transferred to the account of the authorized recipient of funds in
correct amount and interest arising from the contract for the period when the client could not handle
. Interest is not transferred does not exceed CZK 10, unless

Returning the authorized recipient has expressly requested. Corrective settlement
debiting the amount from the account of the unauthorized recipient can be done within three months
date of the error in the reckoning. If the account of the unauthorized beneficiary
incorrectly settled payment of another credit union, bank or branch of a foreign bank
is a credit union that caused the error
authorized to give the credit union, bank or branch of a foreign bank
to debit the amount from his account.

(2) The credit union, which maintains the account of the unauthorized beneficiary
erroneously settled payment is in compliance with the principles set out in paragraph 1
entitled to debit from his account an amount equal to the corrective settlement and
recalculate interest on funds funds so that was captured
account status, as would incorrectly cleared payment received; if the error in clearing
caused by another credit union, bank or branch
foreign bank is obligated to debit funds from his account at
initiative of this credit union, bank or branch of a foreign bank and give them
this credit union, bank or branch of a foreign bank.

(3) Provisions charged to clearing accounts of tax shall be permitted;
Credit union which caused the error in settlement, ask for a refund
the amount of the tax administrator.

(4) Technical procedures of credit unions for corrective settlement
The Czech National Bank decree. ".

57th § 14, including footnote no. 17 reads:

" § 14

All credit unions are required to participate in the system
insurance of deposit claims by Part Thirteen of the Banking Act ^ 17).
Provisions of the Banking Act, which govern the rights and obligations of banks
arising from participation in the system of deposit insurance, the
apply to credit unions similarly. A person who testifies
insured deposit claims maintained by a credit union, a qualified person within the meaning
Part Thirteen of the Banking Act.

17) § 41a et seq Act no. 21/1992 Coll., On Banks, as amended
.. "

58th § 15 to 21b are deleted.
| || 59th heading of § 22 reads: "Supervision of credit unions."

60th in § 22 paragraph 1 and 2 added:

"(1) Supervision of credit unions exercises
Czech national Bank.

(2) The supervision of the Czech National Bank pursuant to paragraph 1
compliance with this Act, special laws, decrees
Ministry of Finance issued pursuant to this Act and legislation and measures
Czech National Bank issued pursuant to this Act and the decision
issued by the Czech national Bank. ".

61st in § 22 paragraph. 4 point.), the word" rejected "
replaced by the word" rejected ".
| || 62nd in § 22 paragraph. 5 of the previous footnote. 18 indicates a
footnote no. 17a, including the reference to this footnote below
line. In the second sentence, the words "or surveillance "are deleted.

63rd in § 22 paragraph. 7, first sentence, the word" him "is replaced by" her ".

64th in § 22 paragraph. 7 last sentence, the words" he asked, is entitled "
replaced by" asking, is entitled "and the word" alone "is replaced
word" alone ".

65th in § 23 para. 1 the words" under § 22 "is replaced by"
form of on-site inspection. "

66th in § 23, paragraph 2 is deleted, whilst repealing the designation of paragraph
first

67th § 24 and 25 are deleted.

68th In § 25a paragraph. 1, first sentence, the words "and management" and the words "
Fund, or performing receivership," are deleted.

69th In § 25a paragraph. 2, the words "conservatorship" is deleted.

70th In § 25a paragraph. 3, "or supplementary supervision of entities in a financial conglomerate
^ 3b) and supervision" are deleted, the word "supervision
persons" is replaced by "surveillance of persons" and at the end of the text || | paragraph 3, the words "and the Commission of the European Communities."

71st In § 25a, paragraphs 8 and 9 are deleted.

72nd Under § 25a is inserted § 25b and 25c, which including footnotes
fn. 19 to 23 are added:

"§ 25b

(1) The credit union is obligated to keep secret and protect against the misuse
information about its members and its shops with a credit union
.

( 2) report on the information that the credit union is required to maintain the
secret and protected against misuse, the credit union is required to submit
persons authorized to exercise supervision. for violation of the provisions of paragraph 1

Does not consider the exchange of information between the Czech National Bank and supervisors
and similar institutions of other states, if they are subject to exchange
information on entities that operate or intend to operate in the territory of the State
. Breach of the obligations set out in paragraph 1 shall also
not communicate the details of the member cooperative banks and shops at
criminal complaint or report under
special Act 19).

(3) report on the information that the credit union is required to maintain the
secret and protected against misuse, submit credit union without the consent
member only upon the written request

A) the court for the purposes of civil proceedings ^ 20)

B) the authority acting in criminal proceedings under conditions stipulated by a special law
^ 21)

C) of tax authorities under the conditions of a special law on tax and
charges

D) of the Ministry of Finance under conditions stipulated by a special law ^ 19)

E) social security authorities in matters of proceedings concerning social
security contributions and the state employment policy, which
member of a credit union owes social security authorities or municipal
authorities of municipalities with extended powers or agents
municipal authorities in matters of proceedings concerning overpayments of social security benefits or bodies
state social support in matters of proceedings concerning overpayments of benefits
state social support, which is a member of a credit union is obliged to return;
It also applies to the enforcement of the premium, contribution and overpayment

F) health insurers regarding the management of premiums for public health insurance
which a member of a credit union owes; It also applies
enforcement of premiums

G) judicial executor authorized to perform execution pursuant to a special Act
^ 22)

H) Labour Office concerning proceedings to return funds
provided by members of the credit union from the state budget;
this is true even for the recovery of these funds.

Written request must contain the information according to which the cooperative union
identify the relevant matter.

(4) The credit union shall communicate without the member's consent to a written request
social security authorities or district authorities
case to the return of benefits credited to the account of the death of the beneficiary
including its exaction data about its member which is
account holder and persons authorized to dispose of funds on this account
and information on matters relating to this account.
Credit union is also required after the death of a member to communicate this data
upon the written request of the Labour Office.

(5) For the submission of the report pursuant to paragraph 3. a) g) includes a credit union
reimbursement of material costs.

(6) The credit union shall without the consent of its members to communicate
person authorized for the purpose of execution or tax execution
account the number of its members, including the identification code of the credit union and
identifiable information about its member, who is the owner of the account. Same
duty credit union also applies in relation to a person who proves that
due to their own erroneous disposition credit union
suffered damage and that without this information can not assert his right to extradition
unjust enrichment within the meaning of the civil Code. For filing information
belong to a credit union reimbursement of material costs.

(7) The report on the information that is required to maintain the credit union in
secret and protected against misuse, submit credit union
in respect of its business in the territory of another state without the consent
member if it is necessary to fulfill the obligations imposed by the law of
State on whose territory it operates. Provisions of the special Act 23) by
not affected.

(8) The information covered by professional secrecy may
a credit union to provide, if necessary, for the purposes of supervision on a consolidated basis
or supplementary supervision ^ 3b) authority which
surveillance exercises.

(9) The information covered by professional secrecy may
a credit union to provide, if it is necessary to provide for the controlling entity
order to prepare reports on a consolidated basis.

§ 25c


(1) Employees and board members of credit unions are required
maintain confidentiality in matters that concern the interests
credit union and its members. For the reasons stated in § 25b paragraph. 2
3, 4 and 6, the Board of Directors waives this requirement.

(2) The duty of confidentiality continues even after
employment or other similar relationship.

19) Act no. 61/1996 Coll., On some measures against the legalization
proceeds from crime and on the amendment of related laws,
amended.

20) Rules of Civil Procedure.

21) Act no. 141/1961 Sb., On Criminal Procedure (Criminal Procedure Code), as amended
.
22
) Act no. 120/2001 Sb., On Court Executors and Execution
(Enforcement Procedure) and amending other laws, as amended.

23) Act no. 101/2000 Coll., On protection of personal data and amending certain laws
, as amended. ".

Existing § 25b, 25c and 25d are renumbered as § 25d, 25e and 25f.

73rd in § 25d paragraph. 2 and § 25e paragraph. 3, the word "supervision" is replaced by
"oversight."

74th in § 25d paragraph 3 reads:

"(3) in exercising supervision on a consolidated basis the Czech national Bank
cooperates with authorities supervising credit or financial institutions
abroad and has the right of those authorities to exchange information .
Provisions of § 25a is not affected. ".

75th in § 25d paragraph. 4 at both locations, § 25e paragraph. 2, § 25e paragraph.
3 on both sites and § 25f Sec. 4 of the last sentence, the word "Office"
be replaced by the words "Czech national Bank."

76th in § 25d paragraph. 4, the word "supervision" is replaced by "supervision."
| || 77th in § 25d paragraph. 5 and § 25f paragraph. 2, the word "Office" is replaced
"Czech national Bank."

78th in § 25e paragraph 1, including footnote No. . 24 reads:

"(1) The Czech national Bank does not exercise supervision on a consolidated basis
under this Act of a consolidated group is supervising
consolidated basis pursuant to special legal regulations 24).

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. ".

79th in § 25e paragraph . 2 the words "credit union or" are deleted.

80th in § 25e paragraph. 2 point. a) and paragraph. 3, the words "credit union"
replaced by "credit institution".

81st in § 25e paragraph. 2 point. b) the words "of the credit union"
replaced by "a group of credit institution", the words "
based in the Czech Republic" deleted and the words "credit union" shall
words "credit institution".

82nd in § 25e paragraph. 2 point. b) after the semicolon is: "if both
balance sheet total as high, if the credit union has received permission
later than foreign credit institution. ".

83rd in § 25e paragraph. 3, after" the opinion of the supervisory authority "shall
words" the credit institution. "

84th in § 25f paragraph. 1 and 2, the words" Ministry of Finance "shall be replaced
" Czech national Bank ".

85th In § 25f paragraph. 4 third sentence with the word "Office" is replaced by "
Czech National Bank."

86th § 26 including footnotes Nos. 11 and 17a are deleted.

87th § 27 to 27c, including the title added:

"

§ 27 (1) The Czech National Bank provides a measure content, form, structure,
dates and manner of submission of the information and documents required from credit unions
.

(2) in addition to the information and documents referred to in paragraph 1, the Czech national Bank
entitled to require the credit union to submit additional data, information or documents
. the credit union is required to submit requested data, documents or information
3 days after being notified, unless the call
deadline later. the challenge is not a decision in an administrative procedure and not against it
be no remedies. To deliver
challenges apply mutatis mutandis regulations on service decisions.

(3) the credit union shall notify the Czech national bank of
proposed change in the Statutes concerning the facts that must be
statutes listed under the requirements of the Commercial Code or this
Act. Verified statutes and their changes must be lodged with the Czech national Bank
.

§ 27a Offences




(1) A person who commits an offense that

A) acquires a qualifying holding in a credit union or it will be increased so that it reaches
shares in the capital or voting rights
listed in § 2b paragraph. 3, without the prior consent of the Czech National Bank, or


B) uses the sign 'savings and credit cooperative "or" cooperative
union "or" credit union "in conflict with § 1. 4th

(2) An employee or member of an elected body of a credit union
commits an offense by violating the obligation to maintain confidentiality in business
matters affecting the interests of the credit union and its members (§ 25c).

(3) A member of an elected body of a credit union or management
person commits an offense by not notifying immediately the Czech National Bank
facts stated in § 6. 10th

(4) A member of the credit committee or member of a credit union, which was by
statutes empowered to decide on the granting of credit
commits an offense that will become a guarantor of the loan for which provision
decisions.

(5) A person who is a member of a credit union commits an offense
that without the prior consent of the Czech National Bank puts more
member contribution so that its share in the capital of a credit union
exceeds 5% contrary to § 4b paragraph. 3rd

(6) The trustee in bankruptcy of a credit union commits an offense
that at the request of the Czech National Bank fails to convene within 30 days of receipt of the request
membership meeting of the credit union solely for the purpose of approving
annual financial statements ( § 5 par. 4).

(7) An offense under paragraph 4 can be fined up to CZK 200 000, per
offense under paragraph 6 fine of up to CZK 500,000 for infractions of
paragraphs 1, 2, 3 and 5 fine of up to 1 000 000 CZK.

§ 27b

Administrative offenses of legal persons

(1) The credit union commits an administrative offense by

A) performs an activity in conflict with the authorization [§ 1 para. 6 point.
A)]

B) fail Czech National Bank pursuant to § 28 para. 1 point. a)
or fails to comply with the obligation stipulated in the decision of the Czech National Bank
issued pursuant to § 28 para. 1 point. b) to e)

C) publish audited accounts, annual report, a copy of the authorization
a message to members in accordance with the measure of the Czech National Bank (§ 1.
7)

D) unlawfully acquires direct or indirect share capital
legal person becomes a member, or shareholder
legal persons or otherwise comes into effect on the management of legal persons (§ 1
paragraph. 9 )

E) admit to membership meeting participation of persons Czech National Bank
suspend rights pursuant to § paragraph 2b. 5

F) failing to inform the Czech National Bank for the acquisition or change of qualified persons
participation in a credit union under § paragraph 2b. 7

G) establishes a branch in the host country without the consent of the Czech National Bank
(§ 2d par. 1) or change the facts concerning
activities of the branch in the host country in contravention of the provisions of § 2e
. 2

H) will start business in the host state without establishing a branch
without its intentions in this specification, including the activity performed previously announced
Czech National Bank (§ 2f)

I) its branch in the territory of the host Member State does not comply
measures taken by the host State in the context of its monetary policy or measure
taken by the European Central Bank in the case of countries which have adopted the euro as their currency
(§ 2 g par. 1),

J) does not provide on-demand host state information and periodic reports
as statistical data on business branch in the
that host State in accordance with paragraph § 2 g. 2

K) an act or conduct their branches in the host country
violates the provisions of legislation in areas which fall within the scope
host State and the illegal status despite the call
host state supervisory authority terminates ( § 2 g par. 3),

L) acquires the property in contravention of § 3 para. 3,

M) take other Member deposit, which will increase the member's share in the share capital of the credit union
above 5%, without the prior consent of the Czech National Bank
granted by a credit union or its members (§ 4b
paragraph. 3 ).

(2) The credit union commits an administrative offense by


A) fails to prepare an annual report, do not submit it together with the annual financial statements for approval
membership meeting within 6 months after the end of the accounting
period for which it is drawn up or approved the annual report does not send
Czech National Bank within 10 days of its approval (§ 6.
6)

B) provide the members of elected bodies of the credit union or its members, who
it have an employment relationship, or their relatives
loan under more favorable conditions than the conditions under which it provides loans to its other
members (§ 7 para. 1)

C) fails in the Annual Report on the granting of loans to members of elected bodies
credit unions, credit union members who have
her employment, and their relatives in accordance with the provisions of § 7 para. || | 4

D) deliver the Czech National Bank within 5 days from the election body member
credit union or the appointment of senior officer for the assessment
conditions for the exercise of their functions, including documents certifying
meet these conditions (§ 7 par. 7),

E) acquires a claim linked subordination condition contrary to § 8 paragraph
. 10

F) fails to verify the ordinary and extraordinary financial statements
cooperative unions auditor (§ 8a. 1)

G) fails to notify the Czech National Bank selected a new auditor or auditor
if the auditor was originally designed by Czech National Bank
rejected (§ 8a. 2)

H) fails to ensure that in the event of loss recognition membership meeting at
approval of the annual financial statements decided to settle this loss
in accordance with § 9 para. 2

I) nevypočte properly contribution to the Deposit Insurance Fund or post
not pay properly and on time (§ 14)

J) fails to take corrective settlement in accordance with § 13b Sec. 1

K) violates the obligation to keep secret and protected against misuse
information about its members and its shops with a credit union (§ 25b)

L) fails to provide the required information for the purposes of supervision on a consolidated basis
or provide incomplete information or inadequate actual
state, or to comply with deadlines for their submission (§ 25f)

M) fails or fails to provide information or documents in accordance with
Czech National Bank measures issued pursuant to § 27 para. 1 or solicited
Czech National Bank pursuant to § 27 para. 2nd

(3) for an administrative offense pursuant to paragraph 2. g) and j) shall be fined up
2 000 000 CZK, for an administrative offense under paragraph 1. c) and paragraph 2
point. a) and c) shall be fined up to CZK 5,000,000 for an administrative tort pursuant to paragraph 1
. a) and b), point. d) through m) and under paragraph 2. b)
d), e), f), h), i), k), l) and m) are fined to 20,000,000 CZK.

§ 27c

(1) Legal person who

A) acquires or changes its qualifying holding in a credit union in contravention of §
2b

B) uses the sign 'savings and credit cooperative "or" cooperative
union "or" credit union "in conflict with § 1 para. 4

Will be fined up to 10 million CZK.

(2) Legal person who is a trustee in bankruptcy
credit union commits an administrative offense by failing to request
Czech National Bank fails to convene within 30 days of receipt of the member's meeting
exclusively for credit unions the purpose of approving the annual financial statements (§
5a par. 4), shall be fined up to 1 million CZK. ".

88th in § 27d paragraph. 3, the word" not initiated "is replaced by" not opened "
word" learned "is replaced by" learned "and the number" 5 "is
replaced with the number" 10 ".

89th in § 27d paragraph 4 and 5 are added:

"(4) Administrative offenses under this Act by the Czech national Bank
. The decision of the Czech National Bank on an administrative offense can
remonstrance, decided by the Bank Board of the Czech National Bank.

(5) Fines imposed by the Czech National Bank levied by the locally
competent financial authority. ".

90th in § 27d paragraph. 6, the word" Fund "is replaced by" state
budget. "

91st in § 27d paragraph 7 including footnotes Nos. 18a deleted.

92nd in § 27f paragraph. 1 point.) the words" or special legal
regulations "are replaced by" special laws, regulations
issued by the Czech national Bank and the laws according to § 2g ".

93rd in § 27f paragraph. 2 and § 28 para. 1 the word "entitled" is replaced by
"entitled."


94th In § 28 para. 1 point. a) the word "his" is replaced by "her".

95th In § 28 para. 1 at the end of Letter b) the comma and semicolon
replaces the words "management depositors their deposits for the purposes of this Act
mean any disposition of their contribution".

96th In § 28 para. 1 point. c) after the word "activities" the words "in
him" and the words "§ 3" are deleted.

97th In § 28 para. 1 point e) deleted.

Existing letters f) and g) shall be designated as letters e) and f).

98th In § 28 para. 2 the words "under subsection 1. B) to g)" are replaced
words "under subsection 1. B) to f)."

99th In § 28 para. 4 point. a) the word "and" is replaced by the word "or".

100th In § 28 para. 4, letter b) reads:

"B) violation or circumvention of the Act, special laws
implementing regulations issued under this Act and legislation and measures
Czech National Bank issued pursuant to this Act as well as
decisions issued by the Czech National Bank ".

One hundred and first In § 28 para. 4 point. j) the words "paragraph. 1" are deleted.

102nd In § 28 paragraph 5 reads:

"(5) In proceedings pursuant to paragraph 1. B) to f) and other decisions
Czech National Bank's Administrative Procedure shall apply, unless this Act stipulates otherwise
. The procedure pursuant to paragraph 1. a) the administrative procedure
apply. ".

103rd In § 28 para. 8, the word "Office" is replaced by "Czech National Bank
either the procedure in the Administrative Code or".

104th In § 28 para. 9 first sentence, the words "appeal to the Ministry of Finance through the Office
" replaced "with the Bank Board of the Czech National Bank
".

105th In § 28 para. 9, second sentence, the words "filing an appeal" shall be
words "The appeal" and "c), d) and e)" is replaced by "c) a
d)."

106th In § 28 para. 12, the words "paragraph 1" the words "point. B)
f)", the word "learned" is replaced by "learned" and the number "3" is replaced by
" 10 ".

107th In § 28, paragraph 13 is repealed.

Existing paragraph 14 shall be renumbered 13th

108th In § 28 para. 13, the word "Office" is replaced by "Czech National Bank
" and the word "entitled" is replaced by the word "entitled".

109s. In § 28a, the words "Ministry of Finance" is replaced by "
Czech National Bank."

110th § 28b to 28f including the title and footnote no. 19a
deleted.

111th In § 28 g Subsection 1 reads:

"(1) If serious shortcomings persist in the business of a credit union
Czech National Bank shall withdraw the authorization.".

112th In § 28g, the following paragraph 3 is added:

"(3) The Czech National Bank shall also withdraw an authorization if it finds that
capital adequacy of credit unions is less than one third
ratio set by the Czech National Bank.".

113th § 28i reads:

"§ 28i

Czech National Bank provides a provision promulgated in the Bulletin

) standards and indicators according to § 11

b) mandatory content and method for updating news members in accordance with § 1.
7

c) the content, form, structure, terms and manner of submission of information and documents
according to § 27 para. 1

d) the scope of information transmitted controlling entity for the purposes of supervision on a consolidated basis
, including the manner and frequency of transmission
according to § 8a

e) a list and contents of documents proving professional competence, trustworthiness and experience
people in leadership
financial holding entity pursuant to § 25f.. "
ARTICLE XV

Transitional provisions


First Until the issue of the relevant implementing legislation
Czech National Bank pursuant to Act no. 87/1995 Coll., On savings and credit cooperatives
and certain related measures and supplementing
Czech National Council Act no. 586 / 1992 Coll., on income taxes, as amended
effective on the date of entry into force of this Act, shall remain in force
implementing legislation issued by the Ministry on the basis of Law no.
87/1995 Coll., on savings and credit unions and some
related measures and supplementing Act of the Czech national Council No.
. 586/1992 Coll., On income taxes, as the effective date
force of this Act (hereinafter "current wording of the law on
Credit Unions"), that where these implementing
legislation speaks of the Office for supervision of credit unions,

Shall mean the Czech National Bank. The Czech National Bank is authorized
issue a decree that canceled the decree issued by the Ministry
current wording of the Act on Credit Unions.

Second Until the release of the Czech National Bank stipulating
capital adequacy of credit unions Czech National Bank withdraws
license to operate as a savings and loan association (hereinafter
"credit union") if it finds that the capital adequacy
credit unions is less than one third
ratio determined by ministerial decree.

Third The effective date of this Act expires Supervisory Authority
Credit Unions (hereinafter the "Office"). The existing responsibilities of the Office
arising from any laws and other regulations passed
date of entry into force of this Act from the Office of the Czech National Bank. Liabilities, rights and obligations
Office of property and other legal relationships
pass on the effective date of this Act, the Office of the Czech National Bank
unless provided otherwise by this Act.
Office of budgetary resources intended to fulfill the commitments and obligations set out in this provision
pass on the effective date of this Act on the Czech National Bank
.

Fourth Receivership and liquidation of credit unions
initiated before the date of entry into force of this Act shall be completed pursuant to existing legal regulations
. The Authority's powers in the process of receivership and liquidation passes
effective date of this Act, the Czech National Bank.

Fifth Persons who are bound to observe confidentiality in accordance with existing regulations
have this obligation even after the entry into force of this Act.

6th The effective date of this Act comes hedge funds
credit unions (hereinafter the "Fund") assets and liabilities of the Office to the State Office
incurred in connection with borrowings repayable financial
provided by the Office under the existing legislation.

7th The effective date of this Act, the Czech National Bank becomes
instead of the Office of the party, which acts as a participant Authority
except for proceedings incidental to the claims of the Office pursuant to paragraph 6, when
a participant in these proceedings becomes Fund . Financial liabilities that
such proceedings incurred by the Czech National Bank will pay the state.

8th Proceedings initiated in connection with the supervision of credit unions
before the effective date of this Act
completes the Czech National Bank under the existing legislation, unless the law provides otherwise
.

9th Administrative decisions issued by the Office shall be deemed
decisions issued by the Czech National Bank. If such a decision was fined
which has not been paid in its collection and
enforcement pursuant to Act no. 87/1995 Coll., On Savings and Credit Cooperatives
and certain related measures and
supplement the Czech national Council Act no. 586/1992 Coll., on income taxes,
amended effective from the date of entry into force of this Act.

10th If it was before the effective date of this Act, a decision
Office against under appeal, a decision on this appeal
ministry under the existing legislation. If the Ministry
such a decision of the Office shall cancel and return the case for reconsideration is
this reconsideration relevant Czech National Bank, which decides
under the existing legislation. A retrial and the review
proceedings concerning those decisions decide the effective date of this Act
Czech National Bank under the previous legislation.

11th The effective date of this Act shall cease attorney granted
Office.

12th If it was determined the opening day of paying the refund before the date of entry into force of this Act
proceed upon completion of payment of compensation fund
under the existing legislation. If there was before the effective date of this Act
effectiveness fact according to § 17 para. 1 or paragraph. 4
current wording of the Act on Credit Unions or
if it was a credit union before the effective date of this Act | || dissolved through liquidation proceeds in fixing the date of commencement of
refund, a claim for compensation for insured deposit and upon payment
refunds under the current wording of the Law on credit

Cooperatives. Law Office pursuant to § 17 para. 2 and § 19
current wording of the Act on Credit Unions performed by the Czech National Bank
. The Fund shall notify the Czech National Bank infringement under § 17a paragraph
. 1 of the current wording of the Act on Credit Unions.
When infringement under § 17 paragraph. 1 of the current wording of the Act on
Credit Unions Czech National Bank may impose
liable persons under the existing legislation a fine of up to 100,000
CZK, repeatedly.

13th Credit unions obligation to pay contributions to the Fund for 2006
arises. Credit unions paid posts Deposit Insurance Fund
for all of 2006. In calculating the contribution to the Deposit Insurance Fund for
2006, the provisions of Law no. 87/1995 Coll., On savings and credit cooperatives and some
related measures and supplementing
Czech Law national Council no. 586/1992 Coll., on income taxes, as amended
effective date of entry into force of this Act will enjoy the
for the period of 2006 preceding the date of acquisition of this Act.
Provisions of this paragraph shall not apply to credit unions that have occurred
fact pursuant to § 17 para. 1 or paragraph. 4 of the current wording of the law on
Credit Unions, or were liquidated
before the effective date of this Act.

14th Credit unions, which are not covered by the provisions of section 13
pays its own demise contributions to the Fund by the current wording of the law on
Credit Unions amounting to 0.15% of the average volume of insured deposits
according to the current wording of the law on
savings and credit cooperatives. On credit unions under this paragraph will not apply
§ 14 of Act no. 87/1995 Coll., On savings and credit cooperatives
and certain related measures and supplementing
Czech National Council Act no. 586/1992 Coll., on income taxes, as amended
effective from the date of entry into force of this Act.

15th Unless this Act stipulates otherwise, the Fund
current wording of the Act on Credit Unions.
Chairman and other Directors of the Fund shall be appointed and dismissed by the Minister of Finance.
§ 15 para. 3 of the current wording of the Act on Savings and Credit Cooperatives
does not apply. The Statute of the Fund's Board of Directors issued after
prior approval of the Ministry. The annual budget of the Fund and its proper
financial statements approved by the Ministry. The Fund is obliged to provide verification
its annual financial statements, auditor or audit firm.

16th If the Office issued a decision according to § § 27a to 27c
current wording of the Act on Credit Unions and
this decision becomes final, the fine-income fund.
ARTICLE XV



Authorization
Prime Minister is authorized to make in the Collection of Laws the full wording
Act no. 87/1995 Coll., On Credit Unions and some
related measures and supplementing Act of the Czech National Council
C. 586/1992 Coll., On income taxes, as amended, as follows from
amended.
PART SEVEN



Canceled

Čl.XVII

Canceled PART EIGHT


Amendment to the Income Tax


Čl.XVIII
Act no. 586/1992 Coll., On income taxes, as amended by Law no. 35/1993
Coll., Act no. 96/1993 Coll., Act no. 157/1993 Coll., Act no. 196/1993
Coll., Act no. 323/1993 Coll., Act no. 42/1994 Coll., Act no. 85/1994
Coll., Act no. 114/1994 Coll. Act no. 259/1994 Coll., Act no. 32/1995
Coll., Act no. 87/1995 Coll., Act no. 118/1995 Coll., Act no. 149/1995 Coll
. Act no. 248/1995 Coll., Act no. 316/1996 Coll., Act no. 18/1997
Coll., Act no. 151/1997 Coll., Act no. 209/1997 Coll., Act no. 210/1997
Coll., Act no. 227/1997 Coll., Act no. 111/1998 Coll., Act no. 149/1998
Coll., Act no. 168/1998 Coll. Act no. 333/1998 Coll., Act no. 63/1999
Coll., Act no. 129/1999 Coll., Act no. 144/1999 Coll., Act no. 170/1999 Coll
. Act no. 225/1999 Coll., the Constitutional court ruling promulgated under no.
3/2000 Coll., Act no. 17/2000 Coll., Act no. 27/2000 Coll., Act.
72/2000 Coll., Act no. 100/2000 Coll., Act no. 103/2000 Coll., Act no.
121/2000 Coll., Act no. 132/2000 Coll., Law no. 241 / 2000 Sb., Act no. 340/2000 Coll
., Act no. 492/2000 Coll., Act no. 117/2001 Coll., Act.

120/2001 Coll., Act no. 239/2001 Coll., Act no. 453/2001 Coll., Act no. 483/2001 Coll
., Act no. 50/2002 Coll., Act No. . 128/2002 Coll., Act no. 198/2002 Coll
., Act no. 210/2002 Coll., Act no. 260/2002 Coll., Act no. 308/2002 Coll
., Act no. 575/2002 Coll., Act no. 162/2003 Coll., Act no. 362/2003 Coll
., Act no. 438/2003 Coll., Act no. 19/2004 Coll., Act.
47/2004 Coll., Act no. 49/2004 Coll., Act no. 257/2004 Coll., Act no. 280/2004 Coll
., Act no. 359/2004 Coll., Act No. . 360/2004 Coll., Act no. 436/2004 Coll
., Act no. 562/2004 Coll., Act no. 628/2004 Coll., Act no. 676/2004 Coll
., Act no. 669/2004 Coll., Act no. 179/2005 Coll., Act no. 217/2005 Coll
., Act no. 342/2005 Coll. and Act no. 357/2005 Coll., is amended as follows
:

First In § 19 para. 1 point. a) the words' Security Fund
credit unions "are deleted.

Second In § 19 para. 1 letter s) is deleted.
PART NINE


Changing the law on vehicle insurance


Čl.XIX
Act no. 168/1999 Coll., On liability insurance for damage caused
operation of a vehicle and amending some related laws, as amended
Act no. 307/1999 Coll., Act no. 56/2001 ., Act no. 320/2002 Coll.
Act no. 47/2004 Coll. and Act no. 377/2005 Coll., is amended as follows:

First In § 3 para. 7, "the ministry on its" replaced by "
Czech National Bank on her."

Second § 16 and 16a, including the title added:

"Administrative offenses

§ 16



Offences (1) A person who commits an offense that

a) operates a vehicle without insurance Liability (§ 1 para. 2)

b) fails to submit evidence to the competent authority of state registration and
vehicle registration certificates in the event of termination of liability insurance
according to § 15 para. 5, or || |
c) fails when operating the vehicle on request member of the Police Czech Republic
evidence of insurance pursuant to § 17 para. 1.

(2) An offense under subsection 1. a) can be saved fine of up to CZK 20,000
or ban the activity of driving disqualifications
up to one year for an offense under subsection 1. b)
fine of up to 10 000 CZK for a misdemeanor pursuant to paragraph 1 . c) fine of up to CZK 1,000
. The block management can be an offense under paragraph 1. c)
impose a fine of up to CZK 500.

§ 16a

Administrative Offences corporate

(1) the legal person commits an administrative offense that

A) operates a vehicle without liability insurance (§ 1 para. 2), or

B) fails to submit evidence to the competent authority of state registration and
vehicle registration certificates in the event of termination of liability insurance
according to § 15 para. 5th

(2) for an administrative offense under paragraph 1. a) shall be fined up to 20
000 CZK for an administrative offense under paragraph 1. b) A fine up to CZK 10,000
.. "

third Under § 16a is inserted § 16b, including the heading reads:

" § 16b
Common provisions


(1) A legal person for an administrative delict if it proves that
made every effort that could be required to breach
legal obligations prevented.

(2) In assessing the fine legal person takes into account the seriousness
administrative offense, especially the manner of its commission and its consequences
and the circumstances under which it was committed.

(3) The liability of a legal person for an administrative tort shall expire if
administrative authority has initiated proceedings within 1 year of the date when it became
but no later than 3 years after the date on which it was committed .

(4) Administrative offenses under § 16a as the first instance
municipal authorities of municipalities with extended powers and the capital city of Prague authorities
boroughs defined by the Statute of Prague.
Offenses under paragraph 1. c) may discuss the Police of the Czech Republic
spot.

(5) The territorial jurisdiction of the administrative authority to hear administrative offenses
according to § 16 and 16a are governed permanent resident natural person or legal entity headquartered
suspected of committing an administrative offense.

(6) Penalties are levied by the authority which imposed them. Revenue from fines is
income to the budget of which is paid by the body which imposed a fine
. Fines imposed in ticket proceedings Czech police are
state budget revenue. ".

4. In § 18 par. 3 and 4 and § 20 para. 1 in both places the word
" Ministry "is replaced by" Czech national Bank ".


Fifth In § 18 par. 7, the word "Ministry" is replaced by "
Czech National Bank."

6th In § 20 par. 3 point. g) and § 25 par. 2, the word "ministry"
replaced by "the Czech National Bank."

7th In § 22 paragraph. 4 the word "ministry" is replaced by "
Czech National Bank."

8th In the heading of § 25, § 25 par. 1 in both places and § 29 para. 5
at both places the words "state supervision" is replaced by "supervision".

9th In § 25 par. 1, "government supervision" is replaced by "supervisors"
and the word "ministry" is replaced by "Czech National Bank".

10th In § 25 par. 2 the words "state supervision, ministry entitled"
replaced by "supervision, the Czech National Bank" and "the ministry
entitled" are replaced by "the Czech National Bank."


Čl.XX Transitional provisions


First Administrative decisions issued by the Ministry before the date of entry into force of this Act
according to the existing legislation are considered
decisions issued by the Czech National Bank if
under this Act to the jurisdiction of such decisions is transferred from the Ministry
the Czech national bank. The rights and obligations arising under
such decisions are not affected. If such a decision was fined
which has not been paid in its collection and
enforcement pursuant to Act no. 168/1999 Coll., On insurance for
MTPL and amending certain related | || laws are effective from the date of entry into force of this Act.
If a decision of the Ministry before the effective date of this Act
canceled and the case was returned for reconsideration, it is appropriate
Czech National Bank, which follows the previous legislation.

Second Proceedings conducted by the Ministry and commenced prior to the effective date of this Act
in matters where substantive jurisdiction under this Act
transferred from the Ministry to the Czech National Bank, completes the Czech National Bank
under the previous legislation. If in such proceedings imposed
fine in its collection and enforcement pursuant to Law no.
168/1999 Coll., On insurance for damage caused by vehicles and
amending certain related laws, as amended, effective
date of entry into force of this Act.

Third If it was before the effective date of this Act issued in the case
where the substantive jurisdiction under this Act transferred from the ministry to
Czech National Bank, the Ministry's decision, against which it was filed
decomposition decided by the bank The Czech national Bank pursuant
previous legislation. If the Board cancels this decision and
thing back for reconsideration, the reconsideration of this relevant
Czech National Bank, which decides according to current legislation. About
retrial and the review proceedings concerning those decisions decides
effective date of this Act, the Czech National Bank
under the previous legislation.

Fourth Effective date of this Act, the Czech National Bank becomes
instead ministry party in cases where the
substantive jurisdiction under this Act transferred from the Ministry to the Czech National Bank
. Financial liabilities that such proceedings arise
Czech National Bank will pay the state. This also applies to commitments
by the Czech National Bank incurs as a result of proceedings initiated
date of entry into force of this Act and relating to activities
ministry under the previous legislation.

Fifth Deadlines which commenced before the effective date of this Act
by existing legislation, are not affected by this Act.
PART TEN


Changing the law on insurance intermediaries and independent loss adjusters



Čl.XXI
Law no. 38/2004 Coll., On Insurance Intermediaries and
independent loss adjusters and amending the Trade
Act, is amended as follows:

First In § 1 point. d) and § 23 para. 1, "state surveillance"
replace the word "supervision".

Second In § 2, letter a) reads:

"A) intermediary activity pursued by an insurance or reinsurance
and the activities of employees of insurance and reinsurance;
domestic insurance company, insurance company from a third country and domestic reinsurance
are required to ensure compliance with the conditions of credibility (§ 19) and professional

Eligibility for at least the basic level (§ 18)
stipulated by this law for their employees who are directly involved in closing
insurance or reinsurance contracts, or to run them
brokering activities ". | ||
third in § 3. h) the words "Office Office" is replaced by "body
supervisory authority" and the word "supervision" shall be replaced with the word "supervision".

fourth In § 4 para. 1 after letter c) the following point d) shall be added:

"d) exclusive insurance agent (§ 6a)."

existing letters d) and e ) shall be designated as letters e) and f).

5th § 6 para. 1 first sentence reads: "Subordinated insurance Intermediary
working with an insurance agent or exclusive
insurance agent or insurance broker for
basis of a written contract, collect premiums and does not convey
settlements of insurance or reinsurance contracts. ".

6. Under § 6 the following § 6a is added:

" § 6a

Exclusive Insurance Agent

(1) Exclusive Insurance Agent carries out mediation activities in
insurance on the basis of a written contract for and on behalf of one
insurance.

(2) Exclusive Insurance Agent is bound in his activity
internal regulations of the insurance company, whose name and on whose behalf he is acting; if it was so agreed
, is entitled to collect premiums or to mediate
performance of insurance contracts. The insurance agent is remunerated by the insurance company,
whose name and on whose behalf it acts.

(3) Exclusive Insurance Agent must be registered,
meet the conditions of credibility and conditions provided in this Act
basic qualification level of professional competence. A person registered in the register
as exclusive insurance agent and as a tied insurance intermediary
subordinated insurance intermediary
insurance agent or insurance broker can mediate
conclusion of insurance contracts falling within the insurance industry, which is || | subject of the contract pursuant to paragraph 1, only
exclusive insurance agent.

(4) The insurance company, whose name and on whose account
exclusive insurance agent is responsible for damage caused by this activity.

(5) If a sole insurance agent authorized to collect from policyholder premiums or to mediate
indemnification is obliged

A) permanently maintained financial liquidity principal amount of 4% of the annual volume
him recoveries of insurance, at least in an amount corresponding
worth 15 000 euro or

B) use for transfers of premiums and benefits exclusively
separately to set up his own business and from separate bank accounts.
This account can be a bank account insurance, if it is evident that
exclusive insurance agent and what amount of premiums on this bank account
put.

(6) For the sole activity of an insurance agent or have equivalent
adjustment related to the tied insurance intermediary
provided for in this Act and in specific legislation. ".

7. In § 7 paragraph 3, including footnote no. 3 shall be deleted.

former paragraphs 4 to 6 shall be renumbered 3 to 5

eighth in § 11 para. 2 the words "Ministry of Finance (
hereinafter the "Ministry") "is replaced by" Czech national Bank. "

ninth in § 12 para. 1 in both locations paragraph. 4, § 13 para. 1, § 14.
1, § 15 para. 1, § 16 para. 1 in both places, para. 2 in both places
paragraph. 3 and 4, § 22 paragraph. 1 in both places, par. 2 and 3 , § 23 para. 1
paragraph. 6 in both places, and § 27 para. 3 in both places
word "ministry" is replaced by "Czech national Bank."

10th in § 12 para. 2, § 14 para. 1 and 4, § 16 para. 2, § 17 para. 1 and 4, §
18 paragraph. 10, § 22 paragraph. 3 and 4 and § 23 . 2, the word "Ministry"
replaced by "Czech national Bank".

11th In § 12 para. 2, after letter b) the following point c) is added:

"C) exclusive insurance agent."

Existing letters c) to e) shall become letters d) to f).

12th In § 12 para. 3 point. j), § 14 para. 2, § 17 para. 1 point. c)
§ 22 paragraph. 1 and § 23 para. 2 point. a) the word "ministry" is replaced
words "Czech National Bank".

13th In § 12 para. 4 second sentence, the word "him" is replaced by "her".

14th In § 12 para. 4 at both places, and § 14 para. 5, the word "Authority"
replaced by "supervisory authority".


15th In § 12 paragraph 7 reads:

"(7) The Czech National Bank publishes in the form of official communication
lists of registered insurance intermediaries and independent loss adjusters
in the Bulletin of the Czech National Bank (
as" Bulletin "). This obligation can be fulfilled publication
manner allowing for remote access. Those lists Czech national Bank
updated at least every two weeks. ".

16th In § 13 para. 8, § 14 para. 2 and 5, § 15 para. 7, § 16 para. 2, § 17 paragraph
. 3, § 19 para. 3, § 20 par. 3, § 22 paragraph. 2, § 23 para. 4, § 24 paragraph
. 2 and § 27 para. 4 the word "ministry" is replaced by "
Czech National Bank."

17th In § 14 para. 1, first sentence, the word "ministry" is replaced
"Czech National Bank".

18th In § 14 para. 1, second sentence, the word "received"
replaced by the word "received".

19th In § 14 para. 1 in both locations paragraph. 4 and § 20 para. 4
word "office" is replaced by "supervisor".

20th In § 14 para. 2 and 3 and § 22 paragraph. 1, the word "office" is replaced
"supervisor".

21st In § 16 para. 4 the word "mandatory" is replaced by the word 'must' and
word "learned" are replaced by "learned".

22nd In § 17 para. 3, § 18 par. 3, § 22 paragraph. 2 and § 23 para. 4 and Article.
6 in both places the word "ministry" is replaced by "Czech National Bank
" .

23rd In § 17 para. 4, the words "Financial Bulletin"
replaced by the word "Bulletin" and the words "the Ministry is obliged to inform"
are replaced by the words "inform the Czech National Bank."

24th In § 17 para. 4 at both places, and in § 22 paragraph. 3 at both places
word "authority" is replaced by "supervisors".

25th In § 18 par. 4, first sentence, the words "finance minister"
be replaced by the words "the Bank Board of the Czech National Bank (the" Bank Board "),"
third sentence, the words "finance minister" is replaced "
bank Board" and the word "chairman" with the word "test" in a sentence
last words "finance minister" is replaced by "bank Board" and
word "bound" by the word 'must' .

26th In the heading of § 22 and § 22 paragraph. 1 in both places, the words "State
supervision" is replaced by "Supervision".

27th In § 22 paragraph. 1, the word "supervision" is replaced by "supervision".

28th In § 22 paragraph. 3 and 4, the word 'mandatory' is replaced by 'must'.

29th In § 22 paragraph. 4 the word "authorities" is replaced by "bodies
supervision."

30th Under § 22 the following § 22a, including the heading reads:

"§ 22a Disciplinary penalties



(1) an insurance intermediary or independent loss
claims that prevents or seriously impedes the exercise of oversight
especially by not providing the necessary interaction or does not comply with the invitation
given under this Act, the Czech national Bank
impose a disciplinary fine of up to 5,000,000 CZK.

(2) the procedural fine pursuant to paragraph 1 may be imposed repeatedly. Total
imposed penalties may not exceed 20 million CZK.

(3) the fine may be imposed within 6 months from the date when the infringement occurred
.

(4) fines imposed by the Czech national Bank under paragraphs 1 and 2 shall be collected and enforced
local tax authority. Revenue from fines is income
state budget. ".

31st In § 23 para. 6 of the last sentence, the word "ordained"
replaced by the word "ordered".

32nd § 25 and 26, including titles added:

"Administrative offenses

§ 25



Offences (1) A person who commits an offense that

a) the application for registration to register or change data in the register shall
incorrect data,

b) as an insurance agent or insurance broker specified in the annual statement
activities pursuant to § 22 paragraph. 2 incorrect data, or

c) specified in the written statement, according to § 13 para. 6 of incorrect data.

(2) An offense under paragraph 1 may be fined up to 1 million CZK.

§ 26 | ||
administrative offenses of legal persons

(1) a legal person commits an administrative offense by

a) the application for entry in the register or change data in the register according to § | || 13 paragraph. 4, 5, 7 and 8 and § 15 para. 4, 5, 6 and 7 providing incorrect data,

b) as an insurance agent or insurance broker shall indicate in the annual activity
according to § 22 paragraph. 2 incorrect data, or

c) specified in the written statement pursuant to § 13 par. 6 incorrect data.

(2) a legal or natural person as an insurance

Intermediary or independent loss adjuster
commits an administrative offense by

A) carries on insurance mediation activity or activity
independent loss adjuster contrary to the information given in the register
according to § 12

B) within the prescribed period fails to remedy imposed by her
Czech National Bank in the supervision according to § 23

C) requires a person to be involved in mediating
insurance activities, the composition of the entry fee as a condition
next payment of remuneration for this activity, or

D) the remuneration of the person to be involved in the mediation activity
insurance, derives from getting others to this activity, which thus gained
.

(3) For an administrative offense under paragraph 1 shall be fined up to CZK 1 000 000
for an administrative offense under paragraph 2 fine of up to CZK 10 million. ".

33rd after § 26 the following new § 26a, including the heading and footnotes
fn. 12 reads:

"§ 26a
Common provisions


(1) A legal person for an administrative delict if it proves that
made every effort that could be required to breach
legal obligations prevented.

(2) In assessing the fine legal person takes into account the seriousness
administrative offense, especially the manner of its commission and its consequences
and the circumstances under which it was committed.

(3) The liability of a legal person for an administrative tort shall expire if
Czech National Bank fails to open proceedings within 1 year of the date when it became aware of
, but not later than 3 years after the date on which it was committed.

(4) Administrative offenses under § 25 and 26 by the Czech National Bank.

(5) The liability for conduct that occurred in the business of a natural person
^ 12) or in direct connection therewith, shall be subject to the provisions of the Act
on liability and sanctions to legal persons.

(6) fines for administrative offenses imposed by the Czech National Bank pursuant to this Act
levied by the locally competent financial authority;
fines are public revenue.

12) § 2 para. 2 of the Commercial Code. ".

34th In § 27 after paragraph 2 the following paragraph 3 is added:

" (3) Condition Insurance liability for damage caused by the performance
activity of insurance intermediary who carries
intermediary activity at the same time as an insurance agent and insurance broker
as determined in accordance with this Act, is satisfied if
insurance policy covers liability for damage caused
performance of both operations with a total limit of indemnity of at least EUR
equivalent value of € 1 million for each insured event, in the case of overlapping
more claims in one year at least in the amount equivalent to the value
1500 000.. "

Former paragraphs 3-8 become paragraphs 4 to 9

35th in § 27 para. 4, the words" Ministry is obliged to announce "replace
the words "shall notify the Czech national Bank". Čl.XXII





Transitional provisions of the first decrees issued by the Ministry pursuant to Act No. 38/2004 Coll., on || | insurance Brokers and independent Loss adjusters and on
amending the Trade Act, as amended effective
until the effective date of this Act, shall be deemed
decree issued by the Czech national Bank pursuant to Law no. 38/2004. about
insurance intermediaries and independent loss adjusters and
on amending the Trade Act, as amended, effective from the date of entry into force of this Act
that where these decrees talk about
ministry means with the Czech national Bank and where these
decree speaks about supervision or state supervision, it means the surveillance.

Second The lists kept by the Ministry under the previous legislation leads
date of entry into force of this Act, the Czech National Bank.

Third Administrative decisions issued by the Ministry
before the effective date of this Act shall be considered as decisions issued by the Czech National Bank
rights and obligations arising under these decisions are not affected
. If such a decision was fined
which has not yet been paid, during its collection and enforcement pursuant
Act no. 38/2004 Coll., On Insurance Intermediaries and
independent loss adjusters and amending the Trade

Act, as amended, effective from the date of entry into force of this Act.
If a decision of the Ministry before the effective date of this Act
canceled and the case was returned for reconsideration, it is appropriate
Czech National Bank, which follows the previous legislation.

Fourth Registration certificate issued by the Ministry
before the effective date of this Act shall be deemed as issued by the Czech National Bank
rights and obligations arising thereunder are not affected.

Fifth Proceedings conducted by the Ministry and commenced prior to the effective date of this Act
completes the Czech National Bank in accordance with the existing legal
adjustments. If in such proceedings fined in its collection and
enforcement pursuant to Act no. 38/2004 Coll., On
insurance intermediaries and independent loss adjusters and
on amending the Trade Act, as amended effective from the date of entry into force of this Act
.

6th If it was before the effective date of this Act, the Ministry issued a decision
against which the appeal was filed, decided by the
Bank Board of the Czech National Bank under previous legislation. If the bank
council canceled this decision and referred the case back for reconsideration is
this reconsideration relevant Czech National Bank, which decides
under the previous legislation. A retrial and the review proceedings concerning those decisions
decide the effective date of this Act
Czech National Bank under the previous legislation.

7th Effective date of this Act, the Czech National Bank becomes
instead of the Ministry or the State party, in which it acts as a participant
ministry in connection with the exercise of state supervision over
pursuit of insurance and reinsurance business, and management, in which
ministry in connection with the exercise of state supervision over the operation
insurance and reinsurance activity has come for the state. Financial liabilities
that on the basis of such proceedings arise Czech National Bank will pay
state. This also applies to obligations that the Czech National Bank incurs as a result
proceedings commenced after the effective date of this Act and
relating to the activities of the Ministry under the previous legislation.

8th Deadlines which commenced before the effective date of this Act
by existing legislation, are not affected by this Act.

9th Until the Bank Board of the Czech National Bank appoints the chairman and members of the Commission
to pursue the professional examinations of insurance agents and insurance brokers
according to § 18 par. 4 of the Act no. 38/2004 Coll., On Insurance Intermediaries

and independent Loss adjusters and on amending the Trade Act, as amended, effective
effective date of this Act, the current chairman and members of the examination committee
deemed appointed under the Act no. 38/2004 Coll.
insurance intermediaries and independent Loss adjusters and on
amending the Trade Act, as amended, effective
effective date of this Act.


Čl.XXIII

Authorization
Prime Minister is authorized to make in the Collection of Laws the full wording
Act no. 38/2004 Coll., On Insurance Intermediaries and
independent loss adjusters and amending the Trade
Act, as set out later laws.
PART ELEVEN



Canceled

Čl.XXIV

Canceled PART TWELVE


Amendment to Act on certain conditions of business in the tourism industry



Čl.XXV
In § 8. 1, second sentence of Act no. 159/1999 Coll., On certain conditions
business in tourism and amending Act no. 40/1964 Coll.,
Civil Code, as amended amended, and Act no. 455/1991
Coll., on Trades (Trade Act), as amended
amended, as amended by Act no. 37/2004 Coll. and Law no. 39/2004
Coll., the words "Ministry of Finance on its" replaced by "
Czech National Bank at its" and the third sentence, the words "Ministry of Finance"
replaced by "Czech National Bank".
PART THIRTEEN


Amendment to the Act on Offences


Čl.XXVI
Act no. 200/1990 Coll., On misdemeanors, as amended by Act no. 337/1992 Coll.
Act no. 344/1992 Coll., Act no. 359/1992 Coll., Act. 67/1993 Coll.

Act no. 290/1993 Coll., Act no. 134/1994 Coll., Act no. 82/1995 Coll.
Act no. 279/1995 Coll., Act no. 237/1995 Coll. Act no. 89/1995 Coll.
Act no. 112/1998 Coll., Act no. 168/1999 Coll., Act no. 360/1999 Coll.
Act no. 29/2000 Coll ., Act no. 151/2000 Coll., Act no. 121/2000 Coll.
Act no. 132/2000 Coll., Act no. 258/2000 Coll., Act no. 361/2000 Coll.
Act no. 370/2000 Coll., Act no. 164/2001 Coll., Act no. 273/2001 Coll.
Act no. 254/2001 Coll., Act no. 265/2001 Coll. Act no. 274/2001 Coll.
Act no. 312/2001 Coll., Act no. 52/2001 Coll., Act no. 6/2002 Coll.
Act no. 62/2002 Coll ., Act no. 78/2002 Coll., Act no. 259/2002 Sb.
Act no. 285/2002 Sb., Act no. 216/2002 Sb., Act no. 311/2002 Sb.
Act no. 320/2002 Coll., Act no. 218/2003 Coll., Act no. 274/2003 Coll.
Act no. 362/2003 Coll., Act no. 47/2004 Coll. Act no. 436/2004 Coll.
Act no. 501/2004 Coll., Act no. 559/2004 Coll., Act no. 586/2004 Coll.
Law no. 95/2005 ., Act no. 379/2005 Coll., Act no. 392/2005 Coll. and
Act no. 411/2005 Coll., is amended as follows:

First § 27 is repealed.

Second In § 52 letter b) reads:

"B) the Police of the Czech Republic (hereinafter" police authorities "), if
misdemeanors on protection from alcoholism and other addictions
according to § 30 paragraph. 1 point. J) or down if a special legal regulation
".
PART FOURTEEN


Amendment to the Act on the Financial Arbiter


Čl.XXVII
Act no. 229/2002 Coll., On the Financial Arbiter, as amended by Act no. 558/2004 Coll
., Is amended as follows:

First In § 1 para. 1 point. a) 1 after the word "prescription ^ 1)" shall be inserted
"including transfers were made without the client's instructions."

Second In § 1 para. 1 point. a) at the end of the text of point 2, the words "and
credit unions ^ 1b)."

Footnote. 1b reads:

"1b) Act no. 87/1995 Coll., On Credit Unions and
some related measures and supplementing Act
Czech National Council no. 586/1992 Coll., On Income Taxes , as amended
regulations. ".

Third In § 1 para. 1 point. a) the last sentence the words "EUR 50000" is replaced
dot and comma sentence "For cross-border transfers
carried out under a special legal regulation 1) a set limit
relates to the effective date of the transfer order ".

Fourth In § 1 para. 1 final part of the word "jurisdiction" shall be inserted
"Czech" and the words "(hereinafter referred to as" arbitrator ")," the words ", which is
conciliatory body deciding disputes under this Act. ".

Fifth Footnote. 1 reads:

"1) Act no. 124/2002 Coll., On transfers of funds,
electronic payment instruments and payment systems (the Act on Payment Systems
), as amended.

Council Regulation (EC) 2560/2001 on cross-border payments in euro. ".

6th In § 4 para. 1 last sentence is deleted and replaced by "The Choice is
held no later than two months before the regular end of the term
Arbiter or Deputy Arbiter [§ 6 par. 3 point. A)]. In other cases [§
paragraph 6. 3 point. b), c), d)] the elections are held, so that the period from the date of termination of office
Arbiter or deputy Arbiter to election day
new Arbiter or deputy Arbiter not exceed two months. ".

7th In § 5, at the end of paragraph 3 the sentence "The report also contains information about
pending disputes without identification data
plaintiffs. Institutions and the identification data in the report is not
violated secrecy under § 22.".

8th In § 7 para. 2, the words "his office" the words "
serious manner."

9th In § 8 the existing text becomes paragraph 1 and the following
paragraph 2, which reads:

"(2) Submission of a proposal on limitation has the same legal effect as if they were
in the same matter brought before the court.".

10th In § 9, paragraph 2 shall be deleted and whilst repealing the designation of paragraph
first

11th In § 10 paragraph. 4, the word "set" is deleted and the words "within"
the words "within 15 days".

12th In § 10 paragraph 4 at the end of the sentence "In justified cases, the arbitrator
deadline at the request of the petitioner and before the expiry of the deadline
15 days lengthen, even repeatedly.".

13th In § 12 para. 6 after the words "shall", the words "within 15 days".

14th In § 12, at the end of paragraph 6 the sentence "In justified

Cases, the arbitrator deadline to request the institution and before the expiry of 15 days
extended, even repeatedly.. "

15. In § 14 after the word" stop "the words" Resolution also "a word
" petitioner "shall be deleted.

16th in § 14 letter a) reads:

" a) arbitrator subsequently discovered that the application is inadmissible under § 9, . "

17th in § 14 point. b) and c) are inserted at the beginning of the word" petitioner ".

18th in § 15 para. 1, the first sentence inserted the sentence" the Arbitrator
decide the matter within 30 days from the date of initiation of proceedings; in particularly complicated cases
decide no later than 60 days; If, due to the nature of things to decide
even within this deadline, it can reasonably extend arbitrator. Deadline to build
during the time period runs according to § 10 paragraph. 4, § 11 and § 12 para. 6. ".

19th in § 16 para. 2, the following sentence added after the first sentence "the arbitrator will decide on
objections within 30 days of their receipt of the arbitrator;
in particularly complex cases, decide no later than 60 days; If, due to the nature of the case
decide even within this deadline may be extended
arbitrator appropriately. ".

20th Under § 17 the following § 17a including footnote No. .
3 reads:

"§ 17a

The finding, which the Arbitrator meets, even partially, the petitioner's petition,
stores simultaneously institution must pay a penalty equal to 10% of
amount that the institution is obliged to pay the judgment by the petitioner, at least
However CZK 10 000. Payment of 10 000 CZK will be imposed even in cases where the
issue is not a monetary amount. Penalties's income
Czech National Bank, which it collected and enforced, and proceed in accordance with a special legislative
^ 3).

3) Act no. 337/1992 Coll., On administration of taxes and fees, as amended
regulations. ".

21st in § 19 para. 1 and 2, after the word" institutions ", the words" in writing ".

22nd in § 19 para. 1, after the word" arbitrator "the word" later ".

23rd In § 19 at the end of paragraph 1 supplement the phrases "Information
obligation can be fulfilled also a form issued by the Arbiter.
Pattern forms for meeting the information obligation with the explanation arbitrator also publishes
manner allowing remote access. ".

24th In § 21 at the end of paragraph 1 the sentence" With the identification data of the institution
in the annual report is not breached
secrecy under § 22. ".

25th in § 21 para. 3, after the word" help "the words" in connection with
commencement of the proceedings, namely " and the word "draft" the words "and
any time during the proceedings."

26th in § 21 para. 4 the word "inform" the words "in the exercise of their
function "and the words" this Act "the words" and
present cases without identification data plaintiffs.
By publishing pending disputes with the identification data
institution is violated secrecy under § 22. ".

27th in § 23, paragraph 2 deleted.

Former paragraphs 3 to 10 as paragraphs 2 to 9

28th in § 23 at the end of the text of paragraph 5, the words "without undue delay
. The arbitrator will decide on the objections within 30 days of their receipt;
In particularly complex cases, decide no later than 60 days; If you can not
due to the nature of the case or decide within this period, it can reasonably extend the arbitrator
.. "

29th In § 24, after the word" proceeds ", the word" reasonably ".



PART FIFTEEN Amendment to Act on capital market



Čl.XXVIII Act no. 256/2004 Coll., on capital market as amended by Act
no. 635/2004 Coll., Act no. 179/2005 Coll., and Act no. 377/2005 Coll., is amended as follows
:

first in § 5, paragraph. 1, "securities and Exchange Commission (the" Commission ")"
replaced by "the Czech national Bank."

2. § 6 para. 1 and 2, § 8 . 1, § 10 paragraph. 2, § 11 para. 3, 5 and 6, §
14 paragraph. 2, 3 and 8, § 21 par. 3, 5 and 7, § 22 paragraph. 3 and 6, § 23, § 24 paragraph
. 1-3, § 25 par. 1 and 2, § 26 par. 1 through 4, § 27 para. 1 to 10
§ 28 paragraph. 2 and 5, § 30 paragraph. 5, 6, par. 8 in both locations paragraph. 9, § 33 paragraph
. 4, § 35 par. 3 point. a) to both places and points. b) at both locations
, § 36c paragraph. 1-3, 5, par. 7 in both places, para. 8 and 9
paragraph. 10 in both locations paragraph. 11 at both locations, 36d.1§ 36d paragraph.
1, § 36e, § 36 g paragraph. 1, 2, 3 first sentence, para. 4 and 5, § 36j paragraph. 1 , §
36 liters in both places, § 37 para. 1 point. f) § 44 para. 4 point. c)
both places and points. d) in both places, § 45 para. 1 and 3, § 49 para.

2, § 57 par. 1 in the introductory part of the provision, § 57 par. 1 point. h)
§ 57 paragraph. 3 and 5, § 74 para. 1, 3 and 5, § 75 para. 4, § 83 paragraph. 3, 5 and 8, §
89 para. 1-3, § 103. 2 and 4, § 104, paragraph. 2, § 104a paragraph. 3, 5 and 6
, § 105 para. 2, § 113 par. 11, § 116 paragraph. 4, § 117 paragraph. 1, § 118, paragraph
. 6, § 119 para. 3, § 122 paragraph. 6, § 122 paragraph. 10 point. c)
§ 122 paragraph. 11, 13 and 14, § 23 para. 2, § 125 paragraph. 5, § 126 par. 3, para. 7
in both places, par. 8 in the introductory part of both places,
paragraph. 8 point. b), para. 10, para. 11 in both locations paragraph. 12, § 129a paragraph
. 2 sentence of the first, second and third part of the sentence before the semicolon, § 130, paragraph
. 1 and 11, § 132 paragraph. 5, § 134, paragraph. 2, § 135 paragraph. 1, 138.3-43 and
4, § 136 paragraph. 1-3, § 137 paragraph. 1 to 4 and 6, § 138, § 139 para. 4 and
8, § 140 paragraph. 3 and 5, § 144 paragraph. 1 and 2, § 145 para. 1, 2 and 5-7,
§ 146 par. 1 3, para. 4 first and second sentences, para. 5 and 6, § 147, § 148, paragraph
. 1 and 3, § 149, § 151, paragraph. 2, § 152 paragraph. 1 and 4, § 153 paragraph.
2 and 3, § 156 paragraph. 1 and 2, § 191, paragraph. 2, § 192 paragraph. 3 and 4, § 193 paragraph.
2 to 4, § 196 paragraph. 1, § 198 paragraph. 1, 2 and 4, § 199 paragraph.
2, the word "Commission" is replaced by "Czech national Bank ".

Third § 6 para. 1 point. h) in both places, § 11 para. 3-5, § 27 paragraph
. 1, § 28 para. 2 point. l), § 37 para. 1 point. e) § 74 para. 1
point. h), § 104a paragraph. 3-5, § 117 paragraph. 1, § 126 par. 6 point. c) §
135 paragraph. 1 and 3, § 150, paragraph. 2, § 151 paragraph. 1 point. d) and e), § 152, paragraph
. 2 in the introductory part of the provision, § 152 paragraph. 2 point. c), § 152 paragraph.
4, § 154 paragraph. 1 and 3, § 155 para. 1, § 162 paragraph. 1 point. d) § 176
point. a), § 199 paragraph. 2 point. b) ap), the word "supervision" shall
word "oversight".

Fourth In the first part of § 8. 1, § 11 para. 3, § 21 para. 4, 7 and 8, § 22 paragraph
. 4, 6 and 7, § 23, § 25 par. 2, § 27 para. 6 and 10, § 36c paragraph.
4 and 10, § 36f paragraph. 1 and 2, paragraph § 36 g. 2-4, § 104a paragraph. 3, § 135 paragraph.
3 point. a), § 146 par. 2 and 5, § 147, § 191, paragraph. 2, "
supervisory authority" is replaced by "supervisory authority".

Fifth In § 8. 1 point. a) paragraphs 1 and 3, § 11 par. 3, § 24 para. 1
introductory part of the provision, § 24 para. 1 point. a) and b), § 24 para. 2, § 25 paragraph
. 1 and 2, § 27 para. 2, 7 and 8, § 28 para. 2 point. b) § 36c paragraph.
11, § 37 para. 1 point. e) § 104a paragraph. 3, § 135 paragraph. 3 point. b) §
135 paragraph. 4 point. a) and b), the title of the ninth Title I, Part 3, § 146, paragraph
. 3, § 147, § 191 paragraph. 1, "supervisory authority" shall be
words "supervisor".

6th In § 8 paragraph 2 deleted.

7th In § 10 paragraph 1 reads:

"(1) The director of an investment firm must have to perform their functions
prior consent of the Czech National Bank; u
brokerage firm that is a bank, requiring consent only to the exercise || | function of a director responsible for the bank's work as a trader
securities. ".

8th In § 10 paragraph. 3 point. b) § 11 para. 1 and 11, § 14 para. 1, § 19 para.
1, § 21 para. 4, § 22 paragraph. 4, § 28 para. 1 and 4, § 29 para. 2, § 32 paragraph
. 3, § 36 g paragraph. 3, second sentence, § 56 par. 2, § 58 para. 4, § 61 paragraph
. 1, § 62 paragraph. 1, § 64 para. 1, § 73 para. 2, § 75 par. 7, § 78 paragraph
. 1, § 79 para. 1, § 83 paragraph. 2, § 85 para. 1, § 86 par. 2 point.
B) the title of § 89, § 103. 1, § 104. 4, § 104a paragraph. 1 and 11
§ 104b paragraph. 1 point. b) and paragraph. 2, § 105 para. 1, § 106 para. 1, § 107, paragraph
. 1, § 125 paragraph. 6, § 127, § 130 paragraph. 8 and 9, § 135 paragraph. 1, § 141
point. a), § 148 paragraph. 2 and 4, § 154 paragraph. 1, § 157 paragraph. 1 point. b) §
189 paragraph. 1 point. b), § 190 paragraph. 1 point. e), § 199 paragraph. 2 point. q)
word "Commission" is replaced by "Czech National Bank".

9th In § 10 paragraph. 3, subparagraph c) shall be deleted.

Existing letters d) to f) are referred to as c) to e).

10th In the heading of § 11, § 11 para. 1 point. a) to c) and § 11 para. 9 point.
) And c) the words "that is not a bank" shall be canceled.

11th In § 11 para. 4 in both locations paragraph. Místech11.9.e 5 on both, §
11 paragraph. 9 point. b) § 16 para. 5, § 19 para. 1 at all locations and
paragraph. 3, § 20 par. 2 and par. 3 in both places, and § 138, the words "
is not a bank," are deleted.

12th In § 11, paragraph 11 and paragraph 12, which including
footnote. 1a reads:

"(12) The provisions of paragraphs 1 to 11 shall not apply in
brokerage firm that is a bank. In his case, a special
legislation, which regulates banks ^ 1). || |

1) § 20 of Act no. 21/1992 Coll., On Banks, as amended
regulations. ".

13th in § 11 para. 8 and 9, § 16 para. 1 in both places, para. 5 and 6, § 18 paragraph
. 1 and 3, § 19 para. 4, § 20 par. 3, § 21 para. 1 and 6, § 22 paragraph. 1
and 5, § 24 para. 4, § 25 par. 3 point. b), § 28 para. 6, § 32 par. 3, §
33 paragraph. 5, § 35 par. 3 point.) to d) § 36a paragraph. 3, § 36c par. 11, § 36d, paragraph
. 2, § 36f paragraph. 1, § 36j paragraph. 1, § 41, § 44 para. 4 point.
c ) to f), § 47 para. 1 point. a), § 47 para. 2 and § 47 para. 4, § 58 paragraph
. 3 and 5, § 60 par. 1 and 3, § 61 paragraph. 4, § 62 paragraph. 3, § 75 para.
2, § 77 par. 1 and 3, § 78 para. 4, § 79 par. 3, § 80 paragraph. 7 and 8, § 84
paragraph. 1 and 3, § 85 para. 3, § 87, § 88 para. 1, § 88 para. 4 point. b) a
c), § 93 paragraph. 6, § 103, paragraph. 7, § 104a paragraph. 8 and 9, § 105 para. 3, §
106 para. 3, § 107 par. 3, § 108 paragraph. 1, § 108 paragraph. 2 point. a), §
118 . 1 in both places, para. 4 and 7, § 119 para. 1 in both places and
paragraph. 4, § 120 para. 2 point. a) § 120 para. 3 and 6, § 122 paragraph. 1, §
122, paragraph. 10 point. b), § 123 paragraph. 1, § 125 paragraph. 1, 2, 4 and 5, § 125, paragraph
. 7 point. a), f) and h), § 127, § 135 paragraph. 1 point. w) ay), § 140, paragraph
. 2, § 148 paragraph. 5, § 154 paragraph. 2 and 4, § 155 para. 2, § 157 paragraph. 1
point. a) and c), § 158 point. f), § 160 paragraph. 1 point. c), § 161 paragraph. 1
point. c) § 163 point. a), § 164 paragraph. 1 point. c) § 171 point. a), b) and
d), § 175 paragraph. 1 point. a), § 199 paragraph. 2 point. l) am)
word "Commission" shall read "Czech National Bank".

14th In § 16 para. 2, § 28 par. 2 point. i), § 30. 9, § 36c paragraph. 3,
§ 104 paragraph. 2, § 108 paragraph. 2 point. b), § 116 paragraph. 1-3, § 118.
5, § 124 paragraph. 5, § 126 par. 5, § 128 paragraph. 2 point. b) § 129a paragraph.
1, § 135 paragraph. 1 point. x), § 136 paragraph. 2, § 137 paragraph. 4, § 161 paragraph. 1
point. f), § 162 paragraph. 1 point. a), § 164 paragraph. 1 point. a), § 193 paragraph. 1
word "Commission" shall read "Czech National Bank".

15th In § 16 paragraph 4 reads:

"(4) An investment firm that is committed to maintaining its own
capital according to § 6 para. 3, notify the Czech National Bank within 20 days after
end of each calendar month on compliance with the rules of capital
proportionality. Other securities traders fulfilling this obligation
within one month after the end of the calendar quarter. ".

16th In § 16 after paragraph 7 the following paragraph 8 is added:

"(8) The provisions of paragraphs 1, 4 and 5 are not applied
brokerage firm that is a bank. In his case, a special
legislation, which regulates banks.".

17th In § 19 paragraph 2 reads:

"(2) An application for permission for a merger securities trader with another
securities dealer, an application for a permit division of an
securities, an application for permission to transfer assets of an investment
papers on its shareholder or an application for permission to transfer
business assets of another person on a securities trader
contain details and documents necessary for assessing the reasons for the merger, division or transfer of business assets
. particulars of the application and its attachments states | || implementing legislation. ".

18th In § 19, after paragraph 4 the following paragraph 5 is added:

"(5) The provisions of paragraphs 1 to 4 are not applied
brokerage firm that is a bank. In his case, a special
legislation, which regulates banks.".

19th In § 20 paragraph 1 reads:

"(1) A contract on the transfer of a business or part of a business merchant
securities agreement on cessation of business or part of a business
securities broker or chartering a business or part of the trader's
securities require permission of the Czech national Bank
. ".

20th In § 20, after paragraph 3 the following paragraph 4 is added:

"(4) The provisions of paragraphs 1 to 3 shall not apply in
brokerage firm that is a bank. In his case, a special
legislation, which regulates banks.".

21st In § 21 para. 3, 5 and 6, § 22 paragraph. 3 and 5, § 26 par. 4 point. a) §
27 paragraph. 1 and 5, § 36c paragraph. 10, § 135 paragraph. 4 point. b), § 157 paragraph. 1
point. b), and c) the word "supervisory authority" is replaced by "
authority supervision."

22nd In § 21 para. 8, the words "in which case" the words
"Czech National Bank". The words "Czech National Bank" at the end of a sentence
deleted.

23rd In § 22 paragraph. 7, the words "in which case" the words

"Czech National Bank". The words "Czech National Bank" at the end of a sentence
deleted.

24th In the heading of § 27, § 36 liters in the title and in § 146.
4, the words "supervisory authorities" are replaced by "supervisors".

25th In § 32 par. 2, in the heading § 135, § 136 paragraph. 1 in the introductory part
provision, § 136 paragraph. 1 point. c) and d) the words "state supervision"
replaced by the word "supervision".

26th In § 34 par. 2 point. d) point 3, the word "supervision or" are deleted.

27th In § 34 par. 2 point. d) paragraphs 6 and 7, § 35 para. 1, § 36 par. 3 and
paragraph. 7 in both places, § 44 par. 2 point. o), points 1 and 2, § 75 para.
3, § 83 paragraph. 7, § 126 par. 9, § 130, paragraph. 3, § 143, § 154, paragraph. 2, § 193, paragraph
. 1, § 198 paragraph. 4 point. a) and b) the word "Commission" shall
words "Czech National Bank".

28th In § 34 par. 2 point. d) paragraphs 6 and 7, § 35 para. 1, § 123, paragraph. 2
§ 146 par. 3, the words "supervisory authority" is replaced by "organ
supervision."

29th In § 36c paragraph. 9 point. b) the words "laid down in international organizations
Securities Commission" is replaced by "set
international organizations competent supervisory authorities".

30th In § 36f paragraph. 1, "has supplied" is replaced by "body
provided".

31st In § 41, § 57 par. 1 point. g), § 87, § 93 paragraph. 6, § 108 paragraph. 1, §
148, paragraph. 3, the words "state supervision" is replaced by "supervision".

32nd In § 97 para. 1 point. b) the words "state body" is replaced
"administrative authority".

33rd In § 97 para. 4, the words "State authority" is replaced by "
Administration Office."

34th In § 104b paragraph 1, point c) deleted.

Existing letters d) and e) shall become letters c) and d).

35th In § 115 paragraph. 1 letter e) reads:

"E) of the Czech National Bank for the purposes

first financial market supervision,

second banking information system under a special law, which regulates the activities
Czech National Bank;

3rd balance of payments of the Czech Republic under the Foreign exchange Act
".

36th In § 115 paragraph. 1 point f) shall be deleted and letters g) to j)
are renumbered f) to i).

37th In § 117 par. 2 letter e) reads:

"E) financial market supervision".

38th In § 117 paragraph. 2 letter i) shall be deleted.

Existing letters j) to m) are renumbered i) to l).

39th In § 126 par. 7, the words "supervisory authorities" are replaced
"supervisor".

40th In § 128 paragraph. 5 fourth sentence reads: "At least one member shall be appointed from among the employees
Czech National Bank, on the proposal of the Board
Czech National Bank.".

41st In § 129a paragraph. 2 in the third sentence after the semicolon shall be deleted and the semicolon shall be replaced
dot.

42nd In § 130 paragraph 2 deleted.

Former paragraphs 3 to 12 are renumbered 2 to 11

43rd In § 130 introductory part of paragraph 2 reads: 'Guarantee Fund in agreement with
Czech National Bank shall publish a notice in an appropriate manner, which includes
".

44th The title of the ninth, the ninth title of Title I, § 135 paragraph.
1, the title of the ninth, Title I, parts 3-5 and § 148 paragraph. 1
words "state supervision" is replaced by " Surveillance".

45th In § 135 paragraph. 1, the word "supervision" is replaced by "Supervision".

46th In § 135 paragraph. 2, the words "government supervision" is replaced
"supervision".

47th In § 137 paragraph. 1 at the end of the provisions of the following sentence is added:
"An appeal filed against this decision has no suspensive effect.".

48th In § 138 shall be marked as paragraph 1 and the following paragraph 2
, added:

"(2) The forced administration of an investment firm that is a bank or
settlement system operator that is a bank
apply the provisions of a special law that regulates the activities of banks.".

49th In § 139 para. 3, at the end of the provisions of the following sentence is added:
"An appeal filed against this decision has no suspensive effect.".

50th In § 145 after paragraph 5 the following paragraph 6 is added:

"(6) An appeal filed against the decision to revoke a license, permission or registration
granted under this Act shall not have suspensive effect, unless
regards withdrawal of the authorization, approval or registration at his own request.".

51st In § 146 par. 4, the words "supervisory authorities" are replaced by "authorities
supervision" and the words "The Commission is hereby" is replaced by "
Czech National Bank is this."

52nd In § 148 paragraph. 2, "state supervision" is replaced by "Supervision".


53rd The heading of Part Nine of Title II reads: "SUPERVISION ON A CONSOLIDATED BASIS
".

54th In § 150, paragraph 1 reads:

"(1) to consolidated supervision under this Act shall mean
monitoring and regulation of risks in consolidated groups, which include
securities trader who is not a bank, in order to limit the risks
which is the brokerage firm is exposed based on its
participation in consolidation. ".

55th In § 150 paragraph. 2 and § 152 paragraph. 1, the word "supervision" is replaced by
"Supervision".

56th In § 150 paragraph. 2, the word "supervision" is replaced by "supervision"
words "bank" and "supervision or" are deleted. The word "over" is inserted
words "banks and".

57th In § 150, paragraph 3 is deleted.

'58. In § 151 paragraph. 1 point. a) the words "parent bank"
deleted.

59th In § 151 paragraph. 1 point. a) in both places point. h) and points. i), §
153, paragraph. 3 in the preamble and § 156 paragraph. 2 point. a) and b)
word "society" is replaced by "persons".

60th In § 151 paragraph. 1 point. b), § 153 paragraph. 3 point. a) and b)
word "corporation" is replaced by "person".

61st In § 151 paragraph. 1, letter c), g) and k) shall be deleted.

Letters d) to f) are renumbered c) to e) letters h) to j)
as letters f) to h) and the letter l) as the letter i).

62nd In § 151 paragraph. 1 point. c) after the word "insurance" the words
"or reinsurance."

63rd In § 151 paragraph. 1 point. c) d) f) and g) the word "company"
replaced by the word "person."

64th In § 151 paragraph. 1 point. e), f) and g) the words "
subsidiaries and associated companies" are replaced by "controlled and associated entities
".

65th In § 151 paragraph. 2, the words "under subsection 1. B) to e)"
replaced by the words "under subsection 1. B) to d)" and the words "
domestic or foreign supervisory authorities' words "foreign supervisory authority" and
words "securities dealers" by "persons authorized to provide investment services
".

66th In § 151, paragraph 3 is deleted.

67th The heading of § 152 reads: "The power of supervision on a consolidated basis."

68th In § 152 paragraph. 1, "and supplementary supervision" shall be deleted and the word
"if" the words "this Act or".

69th In § 152 paragraph 3 reads:

"(3) In exercising supervision on a consolidated basis the Czech National Bank
cooperate with foreign authorities supervising banks, with
persons licensed to provide investment services or financial institutions
and exchange information with those authorities . '.

70th In § 152 paragraph. 4, introductory part, the words "and supplementary supervision"
deleted.

71st In § 152 paragraph. 4 point. a) to d), the words "or financial conglomerate
" are deleted.

72nd In § 152 paragraph. 4 point. b) after the semicolon added: "The terms of
foreign person subject to the supervision of the commencement, purpose and results
spot checks notify the competent foreign supervisory authority".

73rd In § 152 paragraph. 4 point. c) the words "supervisory authority, including foreign
" is replaced by "foreign supervisory authority".

74th In § 152 paragraph. 4 point. d) the word "supervisory authority, including foreign
" is replaced by "foreign supervisory authority" and the words
"supervisory authority" is replaced by "foreign supervisory authority".

75th In § 153, paragraph 1 is deleted.

Paragraphs 2 and 3 shall be renumbered 1 and 2

76th In § 153 paragraph. 1, the first sentence reads: "The Czech National Bank may waive
of supervision on a consolidated basis of a consolidated group
under this Act, which is subject to banking supervision on a consolidated basis
or other comparable supervision; if this oversight
performed abroad will do so by mutual agreement with the competent
foreign supervisors. ".

77th In § 153 paragraph. 1, second sentence, the word "supervision" is replaced by
"supervision".

78th In § 153 paragraph. 2, the words "supervisory authority" shall be replaced
"foreign supervisory authority" and the word "supervision" is replaced by
"supervision".

79th The heading of § 154 and 155 reads: "Duties of persons subject to supervision on a consolidated basis
".

80th In § 154 paragraph. 1, the words "financial holding company" shall be
words "financial holding entity" and "financial holding company
" are replaced by "financial holding company".

81st In § 154 paragraph. 4 the words "or financial conglomerate" shall be deleted.

82nd In § 156 paragraph. 2, first sentence, the words "financial holding

Company "are replaced by" financial holding people "and
words" financial holding company store, "the words" financial holding entity
store. "

83rd in the title of § 176 and in the opening of § 176, the words "subject to the supervision
" is replaced by "supervised" and "supervision and supplementary
" is deleted.

84th in § 192 paragraph. 6, the first sentence reads: " fines for administrative offenses under this Act
imposed by the Czech national Bank levied by the locally
competent financial authority. ". In the second sentence after the word" papers "and
words" other fines, "the words" by this Act. "

85th in § 192, paragraph 7 is repealed. Čl.XXIX





Transitional provisions of the first decrees issued by the Commission under Act no. 256/2004 Coll., on
business on the capital market, as amended effective on the effective date
this Act, shall be deemed a decree issued by the Czech national Bank on the basis
Act no. 256/2004 Coll., on capital market, as amended
effective from the date of entry into force of this Act. Where these
decree speaks of the Commission shall mean the Czech National Bank and where
these decrees talk about supervision or state supervision shall mean
supervision.

Second Certificate of registration issued by the Commission before the effectivity of this Act
according to the existing legislation shall be deemed as issued
Czech National Bank and the rights and obligations arising thereunder
not affected.

Third Board member of the Guarantee Fund of Securities
appointed on the proposal of the Presidium of the Commission pursuant to Act no. 256/2004 Coll., On
Business on the Capital Market, as amended effective on the effective date
this Act, deemed to be appointed on a proposal from the Board
Czech national Bank pursuant to § 128 para. 5 Act no. 256/2004 Coll., on business
on the capital market, as amended, effective from the date of entry into force of this Act
.

Fourth The Czech National Bank may propose
Deprivation of the trustee in bankruptcy and bankruptcy procedure Securities Dealers
commenced prior to the effective date of this Act.


Čl.XXX

Authorization
Prime Minister is authorized to make in the Collection of Laws the full wording
Act no. 256/2004 Coll., On Capital Market, as set out
amended.
PART SIXTEEN


Amendment to the Act on Bonds


Čl.XXXI
Act no. 190/2004 Coll., On Bonds, as amended by Act no. 378/2005 Coll., Is amended as follows
:

First In § 3 para. 2, "the Securities Commission (the" Commission ")"
replaced by "Czech National Bank".

Second In § 3 para. 3 first sentence and § 38 par. 3, the word "Commission" shall
words "Czech National Bank".

Third In § 3 para. 3 second sentence deleted.

Fourth In § 8. 1, first sentence and second, § 8 par. 3, § 8 par. 4 sentence
first and second, § 8 par. 5 of the first sentence, § 9. 1, first sentence and second, || | § 12 paragraph. 2 first and second sentences, § 12 para. 3 sentence first and second
§ 13 paragraph. 5, § 14 para. 1 sentence first and third, § 14 para. 2 first sentence and second
, § 37 para. 1, § 38 par. 1 to 3, § 40 par. 3 and 4 the word || | "The Commission" is replaced by "Czech national Bank".

Fifth In § 8. 5 second sentence and § 11 para. 3 first sentence, the word "Commission"
replaced by "the Czech National Bank."

6th In § 9 par. 2, first and third sentence, § 9 par. 4, § 10 paragraph. 1 sentence
first § 12 para. 4 of the first and third sentence, § 12 para. 5, second sentence, § 14 || | paragraph. 3 first sentence, § 14 para. 4 of the first sentence, the word "Commission" shall
words "Czech National Bank".

7th In § 9 par. 2 first sentence, § 12 para. 4 and the first sentence of § 14 para. 3
first sentence, the words "to the Presidium of the Commission" shall be deleted.

8th In § 9. 2 second sentence, § 12 para. 4 second sentence and § 14 para. 3
second sentence, the words "The presidium of the Commission is obliged" is replaced
"The Bank Board of the Czech National Bank is required."

9th In § 9 par. 2, third sentence, § 12 para. 4, third sentence, and § 14 para. 3
third sentence the words "Presidium of the Commission" is replaced by "
Bank Board of the Czech National Bank."

10th In § 9, paragraph 3 reads:

"(3) Information on the approval of issue conditions of the Czech National Bank
published in the Bulletin of the Czech National Bank.".

11th In § 12 para. 1, § 12 para. 6 and § 12 para. 7, the word "Commission"
replaced by "the Czech National Bank."

12th § 14 par. 3, the word "decision" shall be replaced
"the decision of the Czech National Bank."


13th The heading of Part III reads: "CARE CZECH NATIONAL BANK".

14th In § 37 para. 1, "State supervision" is replaced by "Supervision" and
words "unless provided otherwise by this Act" are deleted.

15th In § 37 paragraph 2 is deleted, whilst repealing the designation of paragraph
first

16th In § 38 par. 1, "government supervision" is replaced by "
her supervision."

17th In § 38 par. 3, the word "Commission" shall read "
Czech National Bank."

18th In § 38 paragraph 4 reads:

"(4) Violation of the obligations laid down by issuers of mortgage
sheets in § 28 para. 3-5, § 29-32, and violation of the Czech National Bank
issued pursuant to § 32 par. 2 and § 45 paragraph. 2 is a deficiency in
bank's activities, for which the Czech national Bank imposes on the issuer
mortgage remedial measures and fines pursuant
special law regulating the activities of banks. ".

19th In § 40 par. 5, the word "Commission" is replaced by "
locally competent financial authority".

20th In § 40, paragraph 6 is repealed.


Čl.XXXII

Authorization
Prime Minister is authorized to make in the Collection of Laws the full wording
Act no. 190/2004 Coll., On Bonds, as is clear from later laws.
PART SEVENTEEN



Canceled

Čl.XXXIII

Canceled

Čl.XXXIV

Canceled

Čl.XXXV

Canceled PART EIGHTEEN


Amendment to the security of the President of the Republic after the function


Čl.XXXVI
In § 5 para. 1 of Law no. 48/2004 Coll., On the security of the President of the Republic
after leaving office, the words "the Chairman or a member of the Presidium of the Securities
" is replaced by "member of the Board
Czech national Bank. "
Nineteen



Canceled

Čl.XXXVII

Canceled PART TWENTY


Amendment to the Office of the Government Representation in Property Affairs


Čl.XXXVIII
In § 11 par. 2 of Act no. 201/2002 Coll., On the Office of the Government Representation in Property Affairs
, the words "Securities Commission" shall be replaced
"Czech National Bank".
TWENTY ONE PART


Amendment to the Act on Banks


Čl.XXXIX
Law no. 21/1992 Coll., The Banking Act, as amended by Act no. 292/1993 Coll.
Act no. 83/1995 Coll., Act no. 84/1995 Coll., Act. 61/1996 Coll.
Act no. 306/1997 Coll., Act no. 127/1998 Coll., Act no. 165/1998 Coll.
Act no. 120/2001 Coll., Act No. . 319/2001 Coll., Act no. 126/2002 Coll.
Act no. 453/2003 Coll., Act no. 257/2004 Coll., Act no. 439/2004 Coll., Act
no. 377/2005 Coll. and Act no. 413/2005 Coll., is amended as follows:

First In § 4 para. 2, second and third sentences are deleted.

Second In § 4 para. 4, the words "paragraphs 2 and 3" is replaced by "paragraph 3
".

Third In § 5 para. 3, "that before deciding
seek the opinion of the Ministry of Finance" shall be deleted.

Fourth In § 16 para. 1 sentence "The decision on granting prior approval
referred to in subparagraphs b) and c) the Czech National Bank before deciding to seek
opinion of the Ministry of Finance." deleted.

Fifth In § 16a par. 2, the last sentence is deleted.

6th In § 20 para. 6 the words "2-4" is replaced by "3 and 4".

7th In § 25a paragraph. 3, the word "supervision" is replaced by "supervisors",
words "supervisory authority over financial institutions or financial markets in
domestically or" shall be deleted and the end of the provision, the words including
footnote. 6e "and provide information to the Ministry of Finance
for the purposes of state control compliance with the conditions for
state aid under a special legal regulation 6e)."

Footnote. 6e reads:

"6e) Act no. 96/1993 Coll., On building savings and state aid
savings, as amended.".

8th In § 26c paragraph. 2 and § 26e paragraph. 3, the word "supervision" is replaced by
"supervision".

9th In § 26c paragraph. 3, the words "with the authorities supervising financial institutions
in the Czech Republic" are deleted.

10th In § 26c paragraph. 4 at both places the word "supervisory authority" shall be
words "foreign supervisory authority".

11th In § 26d paragraph. 2, after the word "appropriate" shall be inserted
"foreign".

12th In § 26e paragraph. 1, first sentence, the word "supervision" is replaced by
"supervision" and the words "supervisory authority or supervision" shall be deleted. In the second sentence
words "this body" is replaced by "competent foreign
supervisory authority".

13th In § 29 par. 3, "which seeks the opinion of the Ministry

Finances "are deleted.

14th in § 30. 1, the second sentence deleted.

15th in § 34 para. 1," which seeks the opinion of the Ministry
finances "are deleted.

16th in § 38 par. 3 letter d) including footnote no. 9c reads:

" d) financial arbitrator deciding the special legal | || ^ regulation 9c) in disputes between a petitioner and an institution

9c) Act no. 229/2002 Coll., On the Financial Arbiter, as amended by Act no. 558/2004 Coll
.. "

17th in § 38 par. 3 point. E ) "special law ^ 10)" are replaced
words "special legislation on measures against the legalization
proceeds of crime ^ 10), and for the purposes of state control
compliance with the conditions for state
aid under a special legal regulation 6e). "

18th in § 38 par. 3, comma at the end of letter i) is replaced by a dot, and
letter j) shall be deleted.

19th in § 38b, the words "or supervision" shall be deleted and the words "supplementary supervision"
be replaced by "supplementary supervision".

20th in § 40 para. 2 the words " which will seek the opinion of the Ministry of Finance
"are deleted.

21st in § 40, paragraph 8 shall be added:

" (8) the Czech national Bank shall inform the Ministry of Finance on its | || final decisions under § 4 para. 2, § 5 para. 3, § 16 para. 1
point. b) and c), § 27 para. 1, § 29 para. 3, § 34 para. 1 and § 40 para.
second. "

22nd in § 41 paragraph. 1, sentence Two shall be repealed. Čl.XL





authorization Prime Minister is authorized to make in the Collection of laws the full wording
Act no. 21/1992 Coll. banks, as is clear from later laws.

PART TWENTY TWO

Change in accounting Act Čl.XLI



In § 21a par. 4 Act No. . 563/1991 Coll., on accounting, as amended by Act No.
. 492/2000 Coll., on both places the words' securities and Exchange Commission "
replaced by" Czech national Bank "and the words" Commission securities "
be replaced by" the Czech national Bank. "

PART TWENTY THREE canceled





Čl.XLII canceled
PART TWENTY FOUR


Amendment to the Act on bankruptcy and settlement



Čl.XLIII Act no. 328/1991 Coll., on bankruptcy and settlement, as amended by Act no.
122/1993 Coll., Act no. 42/1994 Coll., Act no. 74/1994 Coll., Act no. 117/1994
., Act no. 156/1994 Coll. Act no. 224/1994 Coll., Act no.
84/1995 Coll., Act no. 94/1996 Coll., Act no. 151/1997 Coll., Act no. 12/1998 Coll
. Act no. 27/2000 Coll., Act no. 30/2000 Coll., Act no. 105/2000 Coll
., Act no. 214/2000 Coll., Act no. 368/2000 Coll., Act no.
370/2000 Coll., Act no. 120/2001 Coll., Act no. 125/2002 Coll., Act no. 403/2002 Coll
., Act no. 101/2003 Coll. Act no. 210/2003 Coll., Act no. 257/2004 Coll
., Act no. 499/2004 Coll., Act no. 179/2005 Coll. and Act No.
. 377/2005 Coll., Is amended as follows:

First In § 13 para. 9, the words "Securities and Exchange Commission, ^ 1f)" are replaced
words "Czech National Bank ^ 1f)," and the words "Securities Commission" shall be replaced
"Czech National Bank ".

In footnote. 1f, the words "no. 308/2002 Coll."
words "and Law no. 57/2006 Coll.".

Second In § 66e words "supervision or" shall be deleted and the words "(hereinafter" the Authority
supervision ")" is replaced by "(hereinafter the" supervisor ")".

Third In the heading of § 66 grams, 66 grams of § paragraph. 1 in both places, § 66 g paragraph. 4 and 5 and §
66 liters words "supervision or" are deleted.

Fourth In § 66q in both places, the title § 66s, the 66s § paragraph.
1 at both locations, in paragraph § 66s. 4 at all three sites, in paragraph § 66s. 5 and 66 tons paragraph §
. 2 both places the word "supervision" is replaced by
"oversight".
TWENTY-FIVE PART


Changing the Rules of Civil Procedure


Čl.XLIV
Law no. 99/1963 Coll., Civil Procedure Code, as amended by Law no. 36/1967
Coll., Act no. 158/1969 Coll., Act no. 49/1973 Coll., Act No. .
20/1975 Coll., Act no. 133/1982 Coll., Act no. 180/1990 Coll., Act no. 328/1991
Coll., Act no. 519/1991 Coll., Act no. 263/1992 Coll., Act no. 24/1993
Coll., Act no. 171/1993 Coll., Act no. 283/1993 Coll., Act no. 117/1994
Coll. Act no. 152/1994 Coll., Act no. 216/1994 Coll., Act no. 84/1995
Coll., Act no. 118/1995 Coll., Act no. 160/1995 Coll., Act No. .
238/1995 Coll., Act no. 247/1995 Coll., the Constitutional court ruling promulgated under no.
31/1996 Coll., Act no. 142/1996 Coll., the Constitutional court announced || | under no. 269/1996 Coll., Act no. 202/1997 Coll., Act no. 227/1997 Coll.

Law no. 15/1998 Coll., Act no. 91/1998 Coll., Act no. 165/1998 Coll.
Act no. 326/1999 Coll., Act no. 360/1999 Coll. , the Constitutional court ruling promulgated under
no. 2/2000 Coll., Act no. 27/2000 Coll., Act no. 30/2000
Coll., Act no. 46/2000 Coll., Act. 105/2000 Coll., Act no. 130/2000
Coll., Act no. 155/2000 Coll., Act no. 204/2000 Coll., Act no. 220/2000
Coll., Act No. . 227/2000 Coll., Act no. 367/2000 Coll., Act no. 370/2000
Coll., Act no. 120/2001 Coll., Act 137/2001 Coll., Act no. 231/2001
Coll., Act no. 271/2001 Coll., the Constitutional court ruling promulgated under no.
276/2001 Coll., Act no. 317/2001 Coll., Act no. 451/2001 Coll., Act no.
491/2001 Coll., Act no. 501/2001 Coll., Act no. 151/2002 Coll., Act no. 202/2002 Coll
., Act no. 226/2002 Coll. Act no. 309/2002 Coll., Act no.
320/2002 Coll., the Constitutional court ruling promulgated under no. 476/2002 Coll.
Act no. 88/2003 Coll., Law no. 120 / 2004 Coll., Act no. 153/2004 Coll.
Act no. 237/2004 Coll., Act no. 257/2004 Coll., Act no. 340/2004 Coll., Act No.
. 436/2004 Coll., Act no. 501/2004 Coll., Act no. 554/2004 Coll.
Act no. 555/2004 Coll., Act no. 628/2004 Coll., Act no. 59 / 2005 Sb.,
Act no. 170/2005 Coll., Act no. 205/2005 Coll., Act no. 216/2005 Coll.
Act no. 342/2005 Coll., Act no. 377 / 2005 Coll., Act no. 383/2005 Coll.
And Act no. 413/2005 Coll., Is amended as follows:

First In § 200f paragraph. 1, "the Securities Commission (hereinafter
" Commission ")" is replaced by "Czech National Bank".

Second In § 200f paragraph. 2, "the Commission" is replaced by "
Czech National Bank."

Third In footnote no. 74, the words "and Law no. 57/2006 Coll
.".
PART TWENTY-SIX



Canceled

Čl.XLV

Canceled PART TWENTY-SEVEN



Canceled

Čl.XLVI

Canceled PART TWENTY-EIGHT


Amendment to the Act on Local Financial Authorities


Čl.XLVII
Act no. 531/1990 Coll., On territorial financial authorities, as amended by Act No.
. 337/1992 Coll., Act no. 35/1993 Coll., Act no. 325/1993 Coll., Act No.
. 85/1994 Coll., Act no. 311/1999 Coll., Act no. 132/2000 Coll., Act No.
. 218/2000 Coll., Act no. 253/2000 Coll., Act no. 58/2001 Coll., Act No.
. 309/2002 Coll., Act no. 320/2002 Coll., Act no. 501/2004 Coll. and
Act no. 444/2005 Coll., is amended as follows:

First In § 1 para. 1 point. e) the words "government" the words
"or the Czech National Bank" and the word "units" the words "
Guarantee Fund of Securities".

Second § 6 para. 2 point. c) after the word "units" the words "
Guarantee Fund of Securities".
SECTION TWENTY-NINE


Amendment to the Act on Administrative Fees


Čl.XLVIII
Act no. 634/2004 Coll., On administrative fees, as amended by Act no. 217/2005 Coll
., Act no. 228/2005 Coll., Act no. 357/2005 Coll. and Act No.
. 361/2005 Coll., Is amended as follows:

First § 6 para. 8 first sentence, the words "autonomous units" word "and"
replaced by a comma and the words "Czech border crossings" are inserted
words "and charges levied and collected by the Czech National Bank."

Second Under 66 Annex, point b), first indent, at the end of the text
words "or exclusive insurance agent."
SECTION THIRTY


Changing the law on amendments to laws related to adoption of the Act on the service
state employees in administrative authorities and remuneration of these
employees and other employees in administrative offices (business
Act)


Čl.XLIX
In Act no. 309/2002 Coll., On amendment to laws related to adoption
law on service of state employees in administrative offices and
remuneration of these employees and other employees in administrative offices
(Service Act) as amended by Act no. 123/2003 Coll., Act no. 281/2003 Coll
., Act no. 274/2003 Coll., Act no. 362/2003 Coll., Act.
424 / 2003 Coll., Act no. 186/2004 Coll., Act no. 326/2004 Coll., Act no. 436/2004 Coll
., Act no. 501/2004 Coll., Act no. 626/2004 Coll . and Act No.
. 127/2005 Coll., Is part of the eighteenth deleted.
THIRTY-ONE PART


Amendment to the Act on Financial Conglomerates


Čl.L
Act no. 377/2005 Coll., On Supplementary Supervision of Banks, Credit Unions
, electronic money institutions, insurance companies and
Securities Dealers in Financial Conglomerates and on Amendments

Other laws (Act on Financial Conglomerates), is amended as follows:

First The title of the Act and the title of Part One of the Act, the word "supervision"
replaced by the word "supervision".

Second In § 1, § 2. k) al), § 5 para. 5 and 6, § 6 para. 1, 2 and 3, § 8 paragraph
. 1 and 2, § 9. 1-7, § 10 paragraph. 1 through 4, § 11 para. 1, 2 and 4
§ 12, in the title of Title IV, § 13 para. 1-7, § 14 paragraph. 1 point. a) a
e), § 14 para. 2, § 15 para. 1 and 2, § 15 para. 2 point. h), § 15 para.
3, § 16 para. 1 and 2, § 17 para. 1-4, § 18 par. 1 and 2, § 19, § 20
paragraph. 3, 5 and 6, § 21 par. 3 point. a) to c), § 21 para. 4, § 22 paragraph.
5, § 23 para. 1, 2 and 3, § 23 para. 1 point. b) § 25 par. 1 through 4, § 26 paragraph
. 1 and 3, § 27 para. 1 point. a) and b), § 27 para. 2 point. a) § 28
29 and 33, the word "supervision" is replaced by "supervision".

Third In § 2. j) the words "supervision or control 'is replaced by
" supervision ".

Fourth In § 2. k), § 2. l) Section 1, § 9. 1, in the heading of Title III
, the title § 10 to § 10 paragraph. 2, the title of § 11, § 11 par. 3 and 4
§ 13 paragraph. 7, § 15 para. 2 point. a) § 18 par. 2 and § 25 par. 4
word "supervision" is replaced by "Supervision".

Fifth In § 10 paragraph. 1 and 2, § 11 para. 1 and 3, the word "supervision" shall
word "supervision".

6th In § 17 para. 5 deleting 'on cooperation between the competent supervisory authorities
in the Czech Republic and also "and" surveillance of the third "
is replaced by" Supervision of the third. "

7th Title V, the following new § 19a, including the heading reads:

"§ 19a

obligation prudent conduct of business

People in a financial conglomerate are obliged to perform their activities
prudently so that their actions or as a result

a) do not jeopardize the security and stability of the regulated entities in a financial conglomerate
or meet its obligations to its clients

b) did not cause a breach of legislation governing the operation of her
permitted activities regulated entity in the financial conglomerate, or || |
c) did not cause a breach of supplementary prudential rules
under this Act regulated entity in the financial conglomerate.

people in a financial conglomerate, in particular, must not act in a manner in which
result of the regulated entity in the financial
conglomerate originated commitment to performance, which is not commensurate with the consideration or provided collateral, or other
economically unjustified performance. ".

8th In § 30 paragraph. 1, after letter b) the following point c) is added:

"C) a mixed financial holding entity or other person in a financial conglomerate
which is controlled by a person, his conduct or the result of his


first threaten the security and stability of regulated persons
financial conglomerate or meet its obligations to its clients

second cause a breach of legal regulations governing her
permitted activities regulated entity in the financial conglomerate

third violation will cause additional rules prudential
by this Act, the regulated entity in the financial conglomerate or

fourth causes the regulated entity in the financial conglomerate commitment to performance, which is not commensurate
provided consideration or collateral, or other
economically unjustified performance ".

Existing letter c) shall become point d).

9th In § 30 paragraph. 2 at the end of subparagraph b) is replaced by a comma and
following point c) is added:

"C) a mixed financial holding entity or other person in a financial conglomerate
which is controlled by a person, his conduct or the result of his


first threaten the security and stability of regulated persons
financial conglomerate or meet its obligations to its clients

second cause a breach of legal regulations governing her
permitted activities regulated entity in the financial conglomerate

third violation will cause additional rules prudential
by this Act, the regulated entity in the financial conglomerate or

fourth causes the regulated entity in the financial conglomerate commitment to performance, which is not commensurate
provided consideration or collateral, or other
economically unjustified performance. ".

10th In § 33, the words "Ministry of Finance" are replaced by "
Czech National Bank."

11th In § 34, the words "Ministry of Finance in cooperation with the Czech
National Bank and Securities Commission" is replaced by "
Czech National Bank."

Čl.LI

Transitional provisions


First The decree issued by the Ministry on the basis of § 34 of the Act no. 377/2005
Coll., On Supplementary Supervision of Banks, Credit Unions,
electronic money institutions, insurance undertakings and investment firms in
financial conglomerates and amending other laws (Act on financial Conglomerates
), as amended effective on the effective date
this Act shall be deemed to be a decree issued by the Czech national Bank
on the basis of § 34 of the Act no. 377/2005 Coll. financial Conglomerates,
in the wording effective from the effective date of this Act provided that where
this decree speaks of surveillance, it means the surveillance.

Second Proceedings conducted by the Ministry or by the Commission pursuant to § 9. 2 and 7 of Act No.
. 377/2005 Coll., On Financial Conglomerates, as
effective on the effective date of this Act, completes the Czech National Bank.
THIRTY-TWO PART


Change Enforcement Regulations


Čl.LII
Act no. 120/2001 Coll., On Court Executors and Execution
(Enforcement Procedure) and amending other laws, as amended by Act no. 6/2002 Coll.
Act no. 279/2003 Coll., Act no. 360/2003 Coll., Act no. 53/2004 Coll.
Act no. 257/2004 Coll., Act no. 284/2004 Coll., Act no. 499/2004 Coll. ,
Act no. 501/2004 Coll. and Act no. 377/2005 Coll., is amended as follows:

Under § 33a is inserted § 33b and 33c, which including footnotes
no. 7f to 7j added:

"§ 33b

in electronic form in a manner enabling remote access
provide for the needs of the enforcement bailiffs through the Chamber
Ministry of Finance data would 7f ^) o
a
) citizens of the Czech Republic ^ 7b) in the range

first name or names and surnames,

second personal identification number,

third contract number,

fourth identification number of building societies

b) aliens in the range of 7 g ^)

first name or names and surnames,

second personal identification number,

third contract number,

fourth identification number of building societies.

§ 33c

in electronic form in a manner enabling remote access to provide
needs to perform execution executors through the Chamber
Ministry of Finance data would-7h) of participants ^ 7i) in the range


first name or names and surnames,

2 . birth certificate number, and if not allocated, the number of the insured kept in the registry of insured
General health insurance ^ 7j)

Third number of supplementary pension insurance contract,

Fourth the identification number of the pension fund.

7f) § 9a of Act no. 96/1993 Coll., On building savings and state aid
savings, as amended.

7 g) § 1 para. 1 point. b) and c) of Act no. 133/2000 Coll., on records
population and birth certificate numbers and on amendments to some laws (Act on registration
inhabitants), as amended.

7h) § 42 par. 3 of Law no. 42/1994 Coll., On Private Pension Insurance
state contribution and on amendments to some acts related to its introduction
, as amended.

7i) § 2 of the Act no. 42/1994 Coll., On pension insurance with state contribution
on amendments to some acts related to its introduction,
amended.

7j) § 27 para. 1 of Act no. 592/1992 Coll., On premiums for general
health insurance, as amended. ".

SECTION THIRTY-THREE
|| | Čl.LIII canceled





canceled PART THIRTY-FOUR EFFECT





This Čl.LIV Act comes into force on 1 April 2006.

Zaorálek vr



Klaus mp Paroubek mp