The Constituent Statute Of The Twisted And The Pension Fund Of

Original Language Title: o min. náležitostech statutu účastnického a důchodového fondu

Read the untranslated law here: https://portal.gov.cz/app/zakony/download?idBiblio=77008&nr=57~2F2012~20Sb.&ft=txt

57/2012 Sb.



DECREE



of 16 December 2002. February 2012



on the minimum requirements of the Statute and the Statute of the Fund's local

the Pension Fund



The Czech National Bank establishes, pursuant to § 170 para. 1 of law No 427/2007 Coll.

on the supplementary pension savings, for the implementation of § 97 para. 8 (a). a) and b)

the Act on supplementary pension savings and, pursuant to section 110 of paragraph 1. 1 of law No.

426/2007 Coll., on pension savings, for the implementation of § 45 para. 8 (a). a) and

(b)) of the Act on pension savings:



§ 1



The subject of the edit



This Decree lays down the minimum requirements of the Statute of a participating fund

and status of the Pension Fund and their changes under the law on

the supplementary pension savings and pension savings Act are not subject to

prior approval by the Czech National Bank.



§ 2



The structure of the Statute of the local fund



(1) the Statute of the local pool is broken down, at least on the part of the relevant section

4 to 13.



(2) the details of the Fund required by local statute in section 13 may be put

in other parts of the Statute, if their substance-related. With regard to the

the information referred to in paragraph 4 (b). (c)), and (d)), section 5 (b). e), (f)) and i), section 7 (2). 1 and

in § 13 para. 3 (b). (c)), can be used in the appropriate section of the Statute of the local

the Fund, to refer to the annex to this Statute, in which there is such an indication

listed.



(3) if the nature of the case, some of the elements of the Statute precludes putting

Local Fund, the indication that its content closely matches the

the required formalities.



§ 3



The elements of the Statute of a participating fund



The necessities of the Statute of the Fund are local



and basic information about the participant's) Fund (§ 4),



(b) information about the pension company) (section 5),



c) investment objectives and how to fund local investments (section 6),



(d)) the risk profile of the twisted Fund (section 7),



e) information about the historical performance of a participating Fund (§ 8),



(f) asset management) policies in the directory of the Fund (para. 9),



g) information about the charge payable to the pension company and other charges (§ 10),



(h) information on the depositary) Participation Fund (§ 11),



I) information on the activities carried out through another person (section 12) and



j) for more information (section 13).



§ 4



Basic information about the participant pool



Basic information about the participating fund are



and the name of the local Fund) ^ 1)



b) details of the decision that has been granted permission to create a

Local Fund ^ 2), including the designation of the authority that the decision

issued, issue date, reference number and date of acquisition of legal power

the decision,



(c) details of the person) of the auditor ^ 3),



(d) the exact designation of the address) of the website, through

which the participation Fund publishes information required by law, and



e) historical data on tier matters, in particular information about a merger or a

other transformations translates into higher.



§ 5



Information about pension company



Information about pension companies are



and the identification data of the person) of the pension company ^ 4),



(b)), the amount of capital and the repayment of capital,



(c)) date of occurrence,



d) details of the decision on the authorisation for activities involving the designation of the authority

that issued the decision, release date, reference number and date of

the decision and its subsequent amendments,



(e) a list of the heads of the people) with an indication of their functions,



f) data on main activities of the heads of the people, who carry out

pension company, if they have a meaning in relation to the activities of the pension

the company or the local obhospodařovanému pension fund

companies,



g) data on the subject of business and services



h) information about the consolidation, which is the pension company

part of, and



and a list of participating funds) and pension funds whose assets

pension company manages.



§ 6



Investment objectives and how to fund local investment



(1) information on the investment objectives of the Fund include the local

concise description of the objectives, the participation Fund monitors and, where

applicable, in particular the specification of the guarantees provided by third

persons for the purpose of protection of the participants and the limitations of those guarantees.



(2) information about how to fund local investments include



and a more detailed indication of a participating Fund) by type of asset

which invests ^ 1), for example, the participation Fund, stock or participation

Bond Fund,



(b) the detailed definition of the species) of the assets in which the Fund invests, the participation

including the investment limits, if they are determined,



(c)) according to the nature of the relevant assets, to which the participation Fund

invests,



1. the most widely used types of financial derivatives ^ 5), their

economic characteristics, the purpose of their use and the placing of the conversion

where the derivatives are admitted to trading; Fund

notifies the individual risks associated with these investments are

described in the risk profile of the Fund;



2. indication whether the Fund shall repurchase transactions or securities borrowing

the conditions for the selection of counterparties to these transactions and characteristics of securities

securities may be subject to these shops,



3. the maximum limit of open positions related to the financial

derivatives ^ 6)



4. the maximum limit for investments in investment securities ^ 7) and

money market instruments ^ 8) under § 103 para. 5 to 7 of the law on the supplementary

pension savings, issued by one person and the identification of their issuers,



5. the authorisation of the Czech National Bank to invest in investment securities

Securities and money market instruments under the conditions laid down in section 104

the Act on supplementary pension savings and a description of the conditions of the

laid down in section 104 of the Act on supplementary pension savings,



6. the maximum limit of the investment securities of a new issue ^ 9),



d) kinds of bonds or similar securities representing right

the repayment of the amounts due according to the category of their issuer, for example,

Government bonds, municipal bonds, bonds issued by the business

companies, the maximum weighted average maturity of the bond

portfolio and requirements for the evaluation of quality held by bonds (rating),



(e)) for more details on how to invest, according to which participation

the Fund concentrates its investments in a particular industry, State or

the region, other parts of the market or a specific type of asset,



(f)) detailed information on the collateral in the event that the return on invested

resources, parts thereof or the yield therefrom, shall be secured

(guaranteed funds), and an indication of how it will be achieved, the collateral



(g) an indication of the responsibilities of a participating) Fund to invest in investment

securities issued by the company that it pension manages,

or a person belonging to the same group as the pension company,



(h) the obligations of the participant) indication of the Fund not to use assets in the Fund to

the provision of credit, loan, donation and ensure the commitment of the third party or

payment commitment, which is unrelated to the management of the participation Fund

pursuant to § 108 paragraph. 2 of the Act on supplementary pension savings,



even) an indication of the obligations of the local fund not exposed sales

pursuant to § 108 paragraph. 3 of the Act on supplementary pension savings and



j) the conditions under which the participation Fund accepts loans or loans,

If the Fund intends to receive loans or loans pursuant to § 108 paragraph. 1 of the law

on the supplementary pension savings, including the arrangements for their security.



(3) investment objectives and investment of the Fund include the local method

on the characteristics of a typical participant for whom it is intended, and

especially in terms of the participant's relationship to the risks associated with the way

Investment Fund and the level of his experience with trading

investment instruments.



§ 7



The risk profile of the Fund's local



(1) information on the risk profile of the participation Fund is based on the ratio

risks and yields, depending on how the investment of the Fund and provides

warning of the risks involved. It also contains information

Notice that the value of the participating units may fluctuate and that

It is not always guaranteed return on invested funds.



(2) the risk profile of the participation Fund is expressed above all

a synthetic indicator, which is based on historical volatility

the performance of the Fund. On the basis of the calculation of a synthetic indicator is Fund

classified to the appropriate category expressing the risk fund to the number

a scale consisting of the integers in ascending order of volatility

Fund from 1 to 7 from left to right.



(3) the method of calculation of synthetic indicators of a participating fund classification

Fund on a scale for the synthetic indicator to the appropriate category, change the

the inclusion of the Fund and the method for calculating the synthetic indicators of the Fund

the lack of data on its historical performance is given in the annex to this

the Decree.



(4) depending on the investment objectives and the way of investing

Fund risk profile contains a description of all the significant risks

in particular, the risk of



and currency, associated with) the movement of the currency exchange rate, including a description of how and

degree of protection against the currency risk,



(b)), namely credit that an issuer or counterparty fails to comply with

their commitment,



c) settlement, associated with the fact that the settlement of the transaction is unsuccessful,


as expected, for the reason that the counterparty does not pay or deliver the

investment vehicles within the prescribed period,



d) market, resulting from the effects of changes in the development of the overall market prices and

the value of individual assets in the assets of the Fund,



e) operating at a loss of influence, namely the shortcomings or failures

internal processes or human error or due to external events

and the risk of loss of assets held in custody or other custody

that may be caused by, in particular, insolventností, negligent or

willful act a person who is in the custody or other care

assets in the Fund,



(f)) related to the Fund's investment focus on certain economic

or part of the industry, a particular geographical region, a different part of the market, or

certain types of assets and



g) associated with the possibility that from the reasons stipulated by law may be

the participation Fund cancelled, mainly due to



1. the withdrawal of authorisation to create local fund ^ 10), the request for withdrawal

enable local Fund ^ 11),



2. cancellation of the pension company with liquidation ^ 12) or by decision of the

the Court of ^ 13).



§ 8



Information about the historical performance of a participating fund



(1) information on the historical performance of a participating fund are listed in

the form of a bar chart showing annual income after tax for the

last at least 10 consecutive years.



(2) the calculation of the value of the historical performance of the funded its own

equity after deduction of the remuneration for the management and assessment of remuneration for

the assets of the Fund in a directory.



(3) information about historical performance does not include performance data

Local Fund for the year in which the notice published or has

publicly available.



(4) in the case that the participation Fund is there for less than 10 years,

However, for longer than 1 year, the annual revenue for all years

its existence. If for some period, data are not available,

shall be in the appropriate section of a bar diagram without a record date

performance.



(5) since the inception of the Fund has passed local or create a less than

1 year, give notice of a lack of data, which would be a participant in

they can provide information about the historical performance of a participating fund.



(6) If, during the period of the display in a bar diagram based on the

paragraph 1 or pursuant to paragraph 4, there has been a material change in investment

the objectives of the investment fund or the manner of the twisted, which affected his

performance, in a column chart and the period preceding this

change. Information relating to this period make up explanations that

the performance was achieved in other circumstances.



(7) the bar diagram is accompanied by a warning that the data used

refer to the past and that past performance is not a reliable indicator of

future returns.



§ 9



Principles of the management of the property of the participant pool



Policy management of the assets in the Fund participant shall in particular include



and) the definition of the accounting period,



(b)) the rules and deadlines for the valuation of assets and liabilities ^ 14)



(c)), the rules for calculating the current value of the pension of the unit and



(d) the crediting and) rules for the depreciation of pension units.



§ 10



Information about the charge payable to the pension company and other fees



Information about the charge payable to the pension company and other fees are



and) determining the cost of pension and of the company for management

the assets in the Fund, including details of the limit under section 60(1). 3 of the law on

the supplementary pension savings,



(b)) way to determine and amount of remuneration for the company's pension

the assets in the Fund, details of the limit under section 60(1). 4 of the law on the supplementary

pension savings and details on other conditions for entitlement pension

company on the consideration for the appreciation of the assets in the Fund pursuant to § 60 para. 5

and 6 of the Act on supplementary pension savings and



(c) information on one-off charges) from a participant that can

pension company claim pursuant to section 61 of the Act on supplementary pension

savings.



§ 11



Information on the depositary of a participating fund



Information on the depositary of a participating fund are



and the identification data of the person) of the depositary ^ 4),



(b) a description of the basic characteristics of the activities) of the CSD, including the definition of

in particular, its responsibility for the custody and control of the assets in the Fund,

even if the depositary has entrusted the performance of the activities of another person, and

a description of the extent of the conferral of this activity to another person and



(c)) the data on persons who have entrusted with the custody or control of the depositary

the assets in the Fund.



§ 12



Information about activities carried out by other persons



If the pension company entrusts another person power management

the assets of the Fund in a directory, or part of the assets of the Fund, to provide the following

information



and what part of the data) of the assets in the Fund shall be entrusted to the management of other

person, and further indication of the relevant parts of the assets in the Fund,



(b)) this identifying information about another person, and



c) indication of the principal activities such person performs.



section 13 of the



For more information



(1) additional information is information about the status of local Fund and

additional information about participating in the Fund.



(2) information on the status of participation of the Fund are



and adoption and) rules for the amendment of the Statute and the manner of the Statute

and its amendments,



b) warning that next to the Statute of the participation Fund also publishes communication

key information ^ 15) and that the information referred to therein shall be in accordance with the

the information contained in the Statute,



(c) the designation of the authority or person) in the framework of the pension company, to whose

the scope of the approval of the Statute and its belongs changes, and



(d) the date of the signature of the current version of) of the Statute, a statutory body or a member of the

statutory authority, under his name, surname and function which in

pension company performs.



(3) additional information on the participant of the Fund are



a) information about the conditions under which it may be decided on the abolition of

Participation Fund, upon request or ex officio, or merge

a participating fund or the conversion of a participating fund, including the time limit, in

What will participants be informed of the procedure for canceling, merging Fund

or the transfer of the Fund,



(b) notification of rights of the participants), pursuant to section 135 of the Act on supplementary

pension savings,



(c)) the contact point, where it is possible, if necessary, to obtain the

additional information (address, phone, email address, address

the website),



d) basic information about the tax regime that applies to the participation

the Fund,



(e) the method and frequency of publication) reports on the management of the Fund,



f) data on the Czech National Bank as the supervisory authority pursuant to § 141 para. 1

the Act on supplementary pension savings and



g) warning participants that enable the creation of a Fund, the exercise of supervision

and the approval of the Statute of the Czech National Bank is not a guarantee of return

an embedded resource or the performance of the Fund, they could not exclude the possibility of

violations of the legal obligations or the Statute of pension companies,

by the depositary or another person, and do not guarantee that any damage caused by

such a breach will be replaced.



§ 14



Amendment of the Statute not subject to prior approval by the Czech National Bank



Changes the Statute of local fund not subject to previous

the approval of the Czech National Bank, the changes are



and) basic information about the Fund under section 4 (b). b) to (e)),



(b) information on the pension company) pursuant to section 5 (b). (b)) to (i)),



(c)) and the way the investment goals of investing according to § 6 paragraph 1. 2 (a). (h)), and

I),



(d)) of the synthetic indicators under section 7,



(e)) of a bar diagram in accordance with § 8,



f) information about the depository under section 11 (b). a) and (c)),



g) information on the activities carried out through another person under section

12 (a). (c)),



h) other information pursuant to § 13 para. 2 (a). (c)), and (d)) and § 13 para. 3

(a). (c)), d) and (f)),



I) references to legislation invoked their changes under the conditions

referred to in § 97 para. 6 (a). (c) the Act on supplementary pension)

savings, and incremental changes to the data on persons referred to in the Statute, in particular

change of registered office, business, the official change of name or last name, and



j) other information and data that are not minimal necessities

the Statute laid down by this Decree.



§ 15



The elements of the Statute of the Pension Fund



(1) the provisions of § 2 and § 6 para. 1 and 3 and § 7 to 14, in the case of

the Pension Fund shall apply mutatis mutandis.



(2) if the provisions of this Decree States



and the law on supplementary pensions) savings, this means in relation to the

Pension Fund Act on pension savings,



(b) the participant's supplementary pension savings), means, in relation to

Pension Fund participant in the pension plan.



c) unit, this means in relation to the retirement pension fund

unit.



(3) information on how the investment of the Pension Fund of contain

the nature of the relevant assets in which pension fund invests,



and) indicate that this is a pension fund of government bonds

conservative Pension Fund, balanced pension fund or dynamic

the Pension Fund,



(b) the most used types) enumeration of financial derivatives ^ 16), their

economic characteristics and purpose of their use; the Fund notifies the


individual risks associated with these investments are described in

the risk profile of the Fund;



c) indication of whether the Fund shall repurchase transactions or securities borrowing

the conditions for the selection of counterparties to these transactions and characteristics of securities

securities may be subject to these shops,



(d)) the maximum limit of open positions related to the financial

derivatives ^ 17),



(e)) the maximum level of investment in investment securities and instruments

money market instruments pursuant to § 53 para. 5 to 7 of the Act on pension savings,

issued by one person and the identification of their issuers,



(f)) the maximum level of investment in securities for collective investment,



g) types of bonds or similar securities representing right

the repayment of the amounts due according to the category of their issuer, for example,

Government bonds, municipal bonds, bonds issued by commercial

companies, the weighted average maturity of the bond portfolio and the

requirements for the evaluation of quality held by bonds (rating),



(h)) for more details on how to invest, according to which the Fund will

concentrate its investments in a particular industry, State or

the region, other parts of the market or a specific type of asset,



even) the obligations of the Pension Fund to invest in investment

securities issued by companies or belong to a pension

a person belonging to the same group as the pension company,



j) indication of the obligation not to use the pension fund assets in the Fund to

the provision of credit, loan, donation and ensure the commitment of the third party or

payment commitment, which is unrelated to the management of the Pension Fund of the

pursuant to § 57 para. 2 of the Act on pension savings,



to) an indication of the obligations of the Pension Fund do not uncovered sales by

§ 57 para. 3 of the Act on pension savings and



l) the conditions under which the Pension Fund accepts loans or loan, if

the Fund intends to receive loans or loans pursuant to § 57 para. 1 of the law on

retirement savings, including the arrangements for their security.



section 16 of the



The effectiveness of the



This Decree shall take effect on the date of publication with the exception of the provisions of §

15, which shall take effect on 1 January 2000. January 1, 2013.



Governor:



Ing. Singer, Ph.d., v. r.



Annex



The method of calculation of the synthetic indicators and related rules



[To section 8, paragraph 2]



1. calculation of synthetic indicators of a participating fund is based on the

the following criteria



and) synthetic indicator is based on the historical volatility of performance

the Fund,



(b) the historical performance) is calculated on a weekly or monthly

intervals for at least the last 5 years of the existence of the Fund,



c) volatility Fund is calculated and allocated on an annual basis by using this

the standard methods:



2. on the basis of the calculation of synthetic indicators of the participation Fund is included

on the scale for a synthetic indicator to the appropriate category, which

It expresses the level of risk of the Fund:



+--------------------+---------------------------------------+

| Risk fund | Intervals of volatility |

| +-------------------+-------------------+

| | equal to/over | less than |

+--------------------+-------------------+-------------------+

| 1 | 0% | 0.5% |

| 2 | 0.5% | 2% |

| 3 | 2% | 5% |

| 4 | 5% | 10% |

| 5 | 10% | 15% |

| 6 | 15% | 25% |

| 7 | 25% | |

+--------------------+-------------------+-------------------+



3. change in classification of a participating Fund on a scale for synthetic

the pointer is performed when



and the Fund's volatility interval) was out of the category of expressing

risk of the Fund on the basis of each weekly or monthly

a reference calculation of volatility over the last 4 months,



(b) risk Fund) the change is the result of the decision of the pension company

about changing the investment objectives and how the investment of the Fund or local

the risk profile of a participating fund.



4. If a participating Fund's volatility over the past 4 months

matches on a scale more risk groups, the appropriate

the category that corresponds most weekly, or monthly

reference calculations during the last 4 months of volatility.



5. The participation Fund that for the calculation of a synthetic indicator does not

enough data about their historical performance,



and relevant data available) is used on its historical performance,



(b) ") indicates the characteristic reference portfolio based on its

investment objectives and how investment,



(c) the historical performance of the characteristic) counts the model portfolio from

beginning of the period required by point 1(a). and) until the date of the

which the Fund has its historical performance data and connects all

This data, in order to fulfil the requirement of the volume of data for at least the last 5

years of the existence of the Fund and the Fund's annual volatility estimates using the standard

methods referred to in point 1 (b). (c)).



1) section 95 of the Act No 427/2007 Coll. on supplementary pension savings.



2) § 96 para. 1 of law No 427/2007 Sb.



3) § 2 (b). e) of Act No. 93/2009 Coll. on Auditors and amendment to certain

laws (the law on Auditors), as amended by Act No 227/2009 Coll. and act

No 139/2011 Sb.



4) § 3 (b). (f)) Law No 427/2007 Sb.



5) § 100 para. 2 (a). f) and (g)) of law No 427/2011 Sb.



6) § 102 paragraph. 2 of law No 427/2007 Sb.



7) § 100 para. 2 (a). and) Act No 427/2007 Sb.



8) § 100 para. 2 (a). h) Law No 427/2007 Sb.



9) § 100 para. 2 (a). (b)) Law No 427/2007 Sb.



10) § 153 of the Act No 427/2007 Sb.



11) § 111 of the Act No 427/2007 Sb.



12) § 69 para. 1 of law No 427/2007 Sb.



13) § 69 para. 2 of law No 427/2007 Sb.



14) § 115 of Act No. 427/2011 Sb.



15) § 134 and 135 of the Act No 427/2007 Sb.



16) § 48 para. 2 (a). (c)) and § 49 paragraph 1. 2 (a). c) of Act No. 426/2011

Coll., on pension savings.



17) 52 para. 2 Act No. 426/2011 Sb.