And The Minimum Indemnity Limit And Minimum Standards

Original Language Title: a minimum indemnity limit and minimum standards

Read the untranslated law here: https://portal.gov.cz/app/zakony/download?idBiblio=65195&nr=314~2F2007~20Sb.&ft=txt

314/2007 Coll. DECREE of 22 November 2007 on the minimum indemnity limit and minimum standards for insurance contracts, insolvency administrators Change: 360/2013 Coll. The Ministry of Justice pursuant to section 39 of this Act no 312/2006 Coll., On insolvency trustees, (hereinafter the "Act") § 1 Subject This Decree stipulates a minimum indemnity limit and minimum standards for insurance contracts according to § 6 para. 1 point. (f)) and to section 8. 1 point. (c)) of the Act. § 2 The minimum limit of indemnity (1) The minimum limit of indemnification of liability insurance that could arise in connection with the duties of the insolvency administrator under the Insolvency Act or the activities of its employees (hereinafter referred to it as "insurance") establishes for individuals, the amount of CZK 1 0000 0000; for individuals who are entitled to act as insolvency administrator of the debtor mentioned in § 3 para. 2 of the Act, in determining the amount of CZK 10 0000 0000. (2) The minimum limit of indemnity insurance for public companies and foreign companies as the sum of the amounts that would be determined by the individual enterprise announced under paragraph 1. (3) The minimum limit of indemnity insurance is determined for one insured event. § 3 Minimum standards for insurance contracts, insurance covers the liability of the insolvency administrator for damage that is caused by the act or omission in the performance of functions of the insolvency administrator or in connection with, or act or omission of its employees in the exercise of his functions, unless the act or omission occurred during the insurance period. § 4 the Effectiveness of This Decree shall take effect on 1 January 2008. Minister: JUDr. Pospisil own hand Selected provisions of amendments Art. (II) decree No. 360/2013 Coll. Transitional provisions of the insurance contract that meets the conditions pursuant this Decree No. 314/2007 Coll., As amended effective prior to the effective date of this decree, after a period of 6 months from the effective date of this ordinance as insurance contracts meet the conditions pursuant this Decree No. 314/2007 Coll., as amended , effective after the effective date of this decree.