126/2002 Sb.
LAW
of 13 October. March 2002,
amending Act No. 21/1992 Coll., on banks, as amended
legislation, Act No. 219/1995 Coll., the Foreign Exchange Act, as amended
legislation, Act No. 593/1992 Coll., on reserves for the determination of the tax base
income, as amended, law No. 241/2001 Coll., on the Czech
the consolidation of the Agency and on amendments to certain acts (the Act on the Czech
consolidation agency), as amended by Act No. 15/2002 Coll., Act No.
513/1991 Coll., the commercial code, as amended, and the law
No 363/1999 Coll., on insurance and amending certain related
law (Insurance Act), as amended
Change: 278/2009 Sb.
Change: 89/2009 Sb.
Parliament has passed the following Act of the United States:
PART THE FIRST
Amendment of the Act on banks
Article. (I)
Act No. 21/1992 Coll., on banks, as amended by Act No. 265/1992 Coll.,
Act No. 293/1993 Coll., Act No. 154/1994 Coll., Act No. 83/1995 Coll.
Law No. 84/1995 Coll., Act No. 61/1996 Coll., Act No. 306/1997 Coll.
Act No. 16/1998 Coll., Act No. 125/1998 Coll., Act No. 167/1998 Coll.,
Act No 120/2001 Coll., Act No. 239/2001 Coll. and Act No. 318/2001
Coll., is amended as follows:
1. in article 1, paragraph 1, including footnote # 1):
"(1) this Act regulates some relations related to the creation,
business and the demise of banks established in the territory of the Czech Republic, including
their effect outside the territory of the United States, and on some of the relationships
related to the effect of foreign banks in the territory of the Czech Republic.
The banks, for the purposes of this Act shall mean the legal person established in the
The Czech Republic, founded as a joint stock company, "^ 1") that
and) receive deposits from the public, and
(b)) provide loans,
and that to pursue the activities referred to in points a and b)) have a banking license
(hereinafter referred to as the "license") (§ 4). The provisions of the commercial code on the stock
the company will not apply to them, unless this Act provides otherwise.
1) commercial code. ".
2. in article 1, paragraph 3, including footnote No. 1a) is inserted:
"(3) the Bank may, in addition to the activities referred to in paragraph 1 (b). and) and (b)),
to perform these additional activities, if it is allowed in the license granted by the
and) invest in securities on own account,
(b)) finance lease (finance lease)
(c) payments and clearing),
(d)) the issuance and management of means of payment, such as credit cards
and travellers cheques,
(e)), provision of guarantees,
(f) the opening of letters of credit),
g) procurement of direct debit,
(h)) to provide investment services ^ 1a)
I) issuance of mortgage bonds,
j) financial broking,
the performance of the functions of the depositary to),
l) foreign exchange cash operations (purchasing of foreign exchange resources),
m) provision of banking information,
n) trading for own account or for the account of the client with foreign exchange
values, and with gold,
about) car safety
p) activities directly related to the activities referred to in (a))
up to) and in paragraph 1.
1A) of section 8 of Act No. 586/1992 Coll., of the Securities Act, as amended
regulations. ".
3. in section 1, paragraph 4 reads:
"(4) the Bank shall engage in any other business than those that has
allowed in the license. It does not apply to activities carried out for another,
If ensuring of its operation and the operation of other banks
financial institutions and ancillary banking services undertakings over which the
the Bank carries out control. ".
4. In section 1 (1). 5, the words "and 4 ' shall be deleted and the following is added at the end of paragraph
This sentence:
"Unless a special law determines the performance of certain activities
granting of an authorisation, can allow such an activity licence until
will be granted a residence permit under special legislation. ".
5. In section 1 (1). 6, the word "permit" shall be replaced by the word "license".
6. in section 1, paragraph 7 is added:
"(7) a Licence contains a definition of the permitted activities and nominal can
contain a definition of the scope of the approved activities, but not in the sense of
limit the number of individual business cases, and it can also contain
the determination of the conditions to the Bank or branch of a foreign bank
meet before the start of any of the approved activities, where appropriate, is
exercise any of the permitted activities. ".
7. § 2 reads as follows:
"§ 2
(1) without a licence, no person shall
and receive deposits from the public),
(b)) to issue electronic money,
If a specific law provides otherwise.
(2) electronic money instrument "means a payment instrument,
that stores cash value in electronic form and that is
accepted as means of payment, as well as by persons other than its
by the Publisher.
(3) acceptance of deposits is considered also the continuing issue of bonds and
other comparable securities, if
and) is the only or one of the main activities of the issuer,
(b) the subject of the business activities of the issuer) is the provision of loans, or
(c) the subject of the business activities of the issuer) is one of the activities
referred to in § 1 (1). 3.
(4) acceptance of deposits from the public is not considered a continuing issue
of bonds and other comparable securities, will be offered
only institutional investors. "
8. In section 3, paragraph 3. 1 the words "on the basis of these words
occur, "shall be replaced by the words" derived from them ", the words" business name "
shall be replaced by "commercial company" and the words "permit was granted
Act as the Bank "shall be replaced by the words" the licence was granted ".
9. in section 3, paragraph 2 reads as follows:
"(2) the provisions of paragraph 1 shall not apply to persons whose business
company or name are introduced or recognised by law or on the basis of
the international treaty, which was approved by the Parliament, ratified and
published and which the Czech Republic is bound, or on the basis of a similar
the international treaty, which entered into force before 1. in January 1993,
(hereinafter referred to as "international agreement"). ".
10. In section 3, the following paragraph 3 is added:
"(3) the Czech National Bank may require
and the proposed change of trade firm) created the Bank in cases where the
There is a danger of confusion with the trade name of another already existing
legal persons or organizational units,
(b)) change of trade firm of the branch of the foreign bank of the Tween
the distinguishing addendum in cases where there is a likelihood of confusion with
the trade name of another already existing legal entity or its
organizational folder. ".
11. the title of part II:
"PART TWO
The licence ".
12. in section 4, paragraph 1 reads:
"(1) an application for a license shall be presented to the Czech National Bank. With the application for
the licence shall be submitted to the draft statutes. The minimum amount of share capital
the Bank shall be Eur 500 0000 0000 and at least in this amount must consist of
cash deposits. Requirements for an application for a license provides for the Czech national
the Bank notice. ".
13. in section 4, paragraph 4. 2, the words "permit to operate as a bank ' shall be replaced by
the word "license".
14. in paragraph 4, at the end of paragraph 2 the following sentence:
"Before issuing a decision on the application for a licence shall consult the Czech national
the Bank of its intention with the authority of the Bank or other supervision of the competent
State, if required by an international treaty ".
15. in section 4, paragraph 3 is added:
"(3) for the grant of a license shall be subject to the following conditions:
and transparent and safe) the origin of the capital and other financial
resources of the Bank, their sufficiency and matching song
b) capital in full,
c) eligibility with a qualified interest (Article 17a, paragraph 4) on the Bank to
exercise of the rights of a shareholder in the business of the Bank,
(d)) the competence, credibility and experience of the people that are on the
the basis of employment or another contract proposed in a bank to the Executive Management
function with which it is associated with power and responsibility as defined by statute,
(hereinafter referred to as "the head of the staff of the Bank"),
e) technical and organizational conditions for the performance of the proposed activities
banks, functional management and control system of the Bank including the management system
risks,
f) business plan based on the strategy proposed activities of the Bank
based on real economic calculations,
g) transparency groups with close links to which it belongs with the founder
qualified participation (Article 17a, paragraph 4) on the Bank,
h) close links within the groups referred to in subparagraph (g)) does not prevent the exercise of
banking supervision,
I) in the State on whose territory the group referred to in subparagraph (g)) close links,
they are not legal or de facto barriers to exercise banking supervision,
(j) the headquarters of the future of the Bank) must be within the territory of the United States. ".
16. in section 4, paragraph 3, the following paragraph 4 is added:
"(4) the close links, for the purposes of this Act, the
and) relationship between two or more parties, in which one of the people on the
the other person, directly or indirectly, at least 20% of the share capital
or of the voting rights,
(b)) the relationship between two or more persons, in which one of the people the other
a person controls
(c)) the relationship of two or more persons who are controlled by the same person. ".
The current paragraph 4 shall become paragraph 5.
17. section 5 is added:
"§ 5
(1) a foreign bank that proposes to establish a branch within the territory of the United
Republic, shall submit an application for a licence of the Czech National Bank.
(2) a foreign bank shall submit at the same time as the application for a license expression
the banking supervisory authority of the country of residence of the foreign bank to the intent
set up a branch in the Czech Republic and its statement that the above branch
banking supervision will be carried out.
(3) the licence referred to in paragraph 1 shall be decided by the Czech National Bank,
that's before the decision will require the opinion of the Ministry of finance.
(4) for the grant of a licence referred to in paragraph 1 shall be subject to the following
terms and conditions:
and a sufficient volume and transparency) the origin of the financial resources provided by the
foreign bank branch with regard to the scope and level of risk of
business affiliates
(b)) the credibility of the foreign bank and its sufficient financial strength with
given the scope of business of the branch
(c)) the competence, credibility and experience of the persons proposed to
management of the branch,
(d)) of the technical and organizational conditions for the performance of the proposed activities
Branch, functional management and control system including system branch
risk management,
e) business plan based on the strategy proposed activities of the branch
based on real economic calculations,
f) transparency groups with close links to which the foreign
the Bank,
g) close links within the groups referred to in subparagraph (f)) does not prevent the exercise of
banking supervision,
(h)) in the State on whose territory the group referred to in subparagraph (f)) close links,
they are not legal or de facto barriers to exercise banking supervision,
I) a foreign bank wishing to operate through its branch in
the Czech Republic must have a registered office and head office within the
the same State.
(5) the requirements referred to in paragraph 1, as well as the minimum amount of
provided financial resources, established by a decree of the Czech National Bank.
(6) the reason for the rejection of the application for the licence cannot be the fact that
the legal form of a foreign bank does not correspond to the legal form of the joint stock
the company.
(7) the procedure referred to in paragraphs 1 to 5 shall not apply to the cases referred to in §
5a. ".
18. in section 5, the following new paragraph 5a to 5 m, including a footnote
# 3) are added:
"§ 5a
(1) a bank located in the Member States of the European Union and persons authorized to
to the issuance of electronic money based in Member
States of the European Union may exercise, on the territory of the Czech Republic
through its branches of activity under this Act without a licence,
If permission to their performance they have been granted in the country of their location and
If the foreign person has complied with the procedure laid down by the law of the European
the community in accordance with § 5 c up to 5 m. Such branches are covered by the registration
the obligation of tax subjects under special legislation. ^ 3)
Banks based in the Member States of the European Union and of a person authorized to
the issuance of electronic money based in Member
States of the European Union under the same conditions are also entitled to
the pursuit of these activities without establishing a branch, if their
the operation does not have the character of permanent economic activity.
(2) the provisions of paragraph 1 shall not apply in the cases, when it comes to persons who
do not benefit from the advantages of the single licence according to the law of the European communities,
or about a person based in the State, which does not enjoy the benefits of a single license
According to the law of the European communities.
(3) the Czech National Bank may, in accordance with the international treaty by Decree
extend the range of States whose bank or a person authorized to issue
electronic funds enjoy, when business in the territory
The United States, the same facilities as banks and persons authorised to issue
electronic funds based in the Member States
Of the European Union.
(4) the branches of foreign banks, which according to paragraph 1, the territory of the
The United States to carry out activities under this Act without a licence
granted to them by the competent foreign bank, are not subject to this Act with the
exception of the provisions of § 11 (1) 5, the obligation to provide information under section
38 para. 2 to 6, the provisions concerning liquidity, implementation
monetary policy, amending the clearing bank (§ 20 c), and the provisions of § 41 m
paragraph. 1 and 2.
(5) If a branch of a foreign bank referred to in paragraph 1 shall decide
to participate in the payment system operated by the Czech National Bank (§
20b), subject to laws governing the operation of this
the system. If a branch of a foreign bank decides to use options
under section 38 (a) of paragraph 1. 1, subject to the provisions of § 38a.
(6) the provisions of this Act relating to the insurance of receivables from
deposits at these branches apply only when they exercise options
provided for in § 41 m. Procedure according to § 26 can be to branches of foreign
the banks referred to in paragraph 1 apply only on the condition that the branch fails to
on the challenge of the Czech National Bank remedy itself and, at the request of the Czech national
the Bank has not completed the remedy its prior informing or authority
banking supervision to the residence of the foreign banks, and
the conditions that the unlawful situation persists. This does not apply in case of breach
the provisions of § 11 (1) 5, provisions on the appeal and the clearing bank, in
the case of violation of the legislation governing the operation of payment
system operated by the Czech National Bank (§ 20b), if the branch is
a participant in such a system, in the case of violation of the provisions of § 38a and
the obligation to provide information under § 38 paragraph 1(a). 2 to 6, or just can't stand the
a matter of delay, and if it is necessary in the interests of depositors. Procedure according to § 26
applied on the grounds that the matter is urgent and if necessary in the interest of
depositors, the Czech National Bank must, without undue delay, or in
the time limit set by the Commission of the European communities to rethink, if
The Commission of the European communities so decides in accordance with § 5 para. 4.
(7) the Czech National Bank may in the branches of foreign banks, which according to the
paragraph 1, on the territory of the United States to pursue the activities referred to in
This Act without a licence granted in respect of the foreign bank,
or in the persons forming the consolidation unit is a member of foreign
the Bank referred to in paragraph 1, perform a check on the spot, if requested, a
supervisory authority to the country of residence of the foreign bank. The supervisory authority of the country of residence of
the Bank or the person entitled to the issuance of electronic money
the funds referred to in paragraph 1 may, after prior notification of the Czech national
the Bank carried out on the territory of the Czech Republic on the spot check at the Branch Office
foreign banks referred to in paragraph 1, the persons authorized to issue
electronic funds referred to in paragraph 1 or in the financial
institution that meets the conditions of § 5e para. 1.
section 5b
The license shall not be granted if it would be contrary to international
the Treaty.
The principle of single license
§ 5 c
(1) a bank located within the territory of a Member State of the European Union (hereinafter referred to as
"home State") may exercise, on the territory of another Member State
The European Union (hereinafter referred to as "the host State") through its branch
activities listed in § 5 d without a license, if the permission to
the performance of these banks issued in the home State. The same privileges with
the exception of the activities referred to in § 5 d (a). a) also applies to the financial
institutions meeting the conditions referred to in § 5e para. 1 (hereinafter referred to as
"authorized financial institution").
(2) a bank referred to in paragraph 1 shall be further entitled to the pursuit of activities
listed in § 5 d even without establishing a branch, if their operation
does not have the character of permanent economic activity. The same applies to eligible
financial institutions referred to in paragraph 1 with the exception of the activities referred to in § 5 d
(a). and).
(3) to exercise on the territory of the host State through its branch
activities without a licence cannot bank or financial institution that
It does not enjoy the benefits of the single licence according to the law of the European communities,
or a bank or financial institution established in a State that does not enjoy
the advantages of the single licence according to the law of the European communities.
§ 5 d
The Bank or authorized financial institutions may exercise, on the territory of the
of the host State, in compliance with the conditions laid down by the law of the European
community and referred to in this Act, the following activities:
and) acceptance of deposits from the public,
b) lending,
(c)) finance lease (finance lease)
d) payments and clearing,
e) issuing and managing means of payment,
(f)), provision of guarantees,
g) trading for own account or for the account of the client
1. money-market instruments,
2. with funds in foreign currencies,
3. in the area of futures (futures) and options (options) including
Exchange-rate and interest-rate deals,
4. transferable securities,
h) participation in the issuing of securities, and the provision of related services,
as well as advice in matters of) capital structure, industrial strategy and in
related questions and advice and services relating to mergers and the purchase of
enterprises,
j) money brokering,
k) securities management on behalf of the client, including the
advice (portfolio management),
l) storage and management of securities,
m) provision of banking information,
n) safekeeping valuables.
§ 5e
(1) a financial institution that intends to make use of the advantages referred to in § 5 c,
at the same time must meet the following conditions:
and the Bank or the Bank) in accordance with § 5 para. 1 must have at least 90%
voting rights and share capital in this financial
institution and must be governed by the law of the same State as this financial
institutions,
(b)) the activities that it intends to operate on the territory of the host Member State must
operated on the territory of their country of origin,
(c)) must be included in consolidated supervision exercised over the Bank
or banks pursuant to § 5 para. 1 in accordance with the provisions of the European
the community,
(d)) the Bank or Bank pursuant to § 5 para. 1 jointly and severally liable with
the approval of the supervisory authority is liable for its obligations,
(e)) the Bank or Bank pursuant to § 5 para. 1 meet the requirements of the home
supervisory authority regarding the prudent management of financial institutions.
(2) the conditions referred to in paragraph 1 shall be verified by the supervisor
Home State, who shall issue a confirmation.
(3) in the event that the authorized financial institution ceases to meet any
of the conditions referred to in paragraph 1, the home supervisory authority immediately
informs the host supervisory authority and financial institutions shall cease to be benefits
single license.
§ 5f
The Bank or authorized financial institution that intends to base its
a branch within the territory of the host Member State shall inform the supervisory authority
Home State and inform him in writing the following information:
and) on the territory of the Member State intends to set up a branch,
(b)) a business plan containing the particular enumeration of the activities envisaged,
(c)), the organisational structure of the branch
(d) the address in the host State), on which it will be possible to retrieve documents,
(e)) the names of persons responsible for the management of the branch,
f) in the case the legitimate financial institution whether or not the supporting documents for verification
the facts referred to in § 5e para. 1.
§ 5 g
(1) the supervisory authority of the home State if it has doubts as to the
organizational structure and financial position of the Bank or financial institution
in relation to the expected activities, it passes within 3 months of receipt of the
information in accordance with § 5f this information together with data on the amount of capital banks
or authorized financial institution, with details of its capital
adequacy, details about deposit insurance and passing the confirmation
in accordance with § 5e para. 2, the host supervisory authority, which will inform and
Bank or financial institution.
(2) in case there are doubts referred to in paragraph 1, the authority
oversight by the State within the time limit referred to in paragraph 1 a bank or
the financial institution informs you that its notification was sent to the
the host supervisory authority, and to justify. In this case, and
in the case where it is not within the time limit referred to in paragraph 1 of the Bank or financial
institutions by the supervisory authority of the home State informed, can
the Bank or financial institution to seek redress in court.
§ 5 h
(1) the supervisory authority of the host State shall within 2 months of the receipt of the
information pursuant to § 5 para. 1, to the supervision of the Bank or
financial institutions, and, if necessary, shall notify it of the provisions of its
the legislation, which will apply to its activities.
(2) following receipt of the information referred to in paragraph 1, or after the expiry of 2
months, the Bank or authorized financial institution to start a business on
the territory of the host State.
(3) Changes in the data referred to in § § 5 g 5f and para. 1 shall notify the Bank or
authorized financial institutions supervisory authority one month in advance
the home and the host State.
§ 5i
In the event that a bank or authorized financial institution intends to in the territory
of the host State to operate in accordance with § 5 d without establishing
the branch shall notify the intended activities before provision of the service
the home supervisory authority that this notification within one month it shall send the
the host supervisory authority.
section 5j
(1) supervision of a branch of the Bank or authorized financial institutions
carries out supervisory authority of the home State. Supervision of the liquidity of the branch
the Bank or authorized financial institution shall exercise supervisory authority
of the host State. Branch is subject to measures adopted by the host
State in the framework of its monetary policy; in the case of States that have adopted the
euro as their currency, measures taken by the European Central Bank.
Such measures must not be discriminatory.
(2) in exercising its jurisdiction under paragraph 1, and in the area of monitoring
risks arising from the open positions in the financial market on the territory of that
State, the host State from Bank branch or authorized financial
institutions requesting the same information from banks or financial
institutions with head offices in its territory. The host State may, from the Bank or
authorized financial institution having a branch on its territory
regular reports on its business activities in its territory in
the form of statistical data.
§ 5 k
(1) if the competent authority of the host Member State finds that a bank or
authorized financial institutions in the provision of services in its territory
violates the provisions of legislation in areas which fall within the
the scope of the host State shall request the Bank or authorized financial
the institution of the termination of the infringement.
(2) unless the Bank or authorized financial institution needed
measures, the competent authority of the host Member State supervisory authority
Home Member State, which shall immediately take the necessary measures to ensure
termination of the infringement and inform the competent authority of the
of the host State.
(3) If, despite the measures referred to in paragraph 2, the Bank or the beneficiary
financial institutions remains in a State of infringement
referred to in paragraph 1, the competent authority of the host State
the previous informing the supervisory authority of the home State to take
the necessary measures to end the illegal status, and, if necessary, to
termination of the activities of the Bank or authorized financial institution in the territory of the
of the host State.
(4) if the matter does not tolerate delay, the competent authority of the host State
take measures to protect the clients of the Bank. The adoption of such measures
the competent authority of the home State shall inform the Commission of the European
the community and the authorities of the States concerned. After consultation with the authorities of
supervision of the States concerned, the Commission of the European communities may order the
authority of the host State to revoke or amend the measures taken.
(5) the authorities of the host Member State may take the necessary measures to
prevent or punish the conduct in the territory of that State in violation
the legislation of the State in areas of public interest, including measures
to end the activities of the Bank or financial institution in the territory of that
State. The provisions of the preceding paragraphs shall not apply in this case.
§ 5 l
(1) in the event of the withdrawal of the licence to the Bank or authorized financial institution
the home supervisory authority informs the host supervisory authority without delay.
The host supervisory authority shall take the necessary measures to end the activities of the
the Bank or authorized financial institutions on their territory and to protect the interests of
depositors.
(2) supervisory authorities shall inform the Commission of the European communities on the number and
the nature of the cases, when they refused to cede the authority of the host State
information on the establishment of a branch or when they used their privileges to
their infringement pursuant to § 5 para. 1 to 3.
§ 5 m
Banks and authorized financial institutions are allowed to freely advertise your service
in the States of the European Union, while respecting the legislation on advertising
taken by the competent State.
3) section 33 of Act No. 337/1992 Coll., on administration of taxes and fees, as amended by
amended. ".
19. in section 6 (1). 1 the words "authorisation as a bank ' shall be replaced by
the word "license" and the word "transferable" shall be replaced by the word
"transferable".
20. In article 6, paragraph 2 shall be deleted and paragraph 1 shall be abolished.
21. in Section 7a of the paragraph. 1 the introductory sentence, the words "Permit to operate as a bank"
shall be replaced by the word "license".
22. in Section 7a of the paragraph. 1 (b). a) and (c)), § 26 para. 4, § 34 paragraph 1. 2 (a). a) and
(b)) § 35 para. 1 and 2, § 40 paragraph 2. 1 and 2 and § 41 para. 2, the words
"license to operate as a bank" shall be replaced by the word "license".
23. in Section 7a of the paragraph. 1 at the end of the text of the letter b), the words "If
shall be repealed with the liquidation, ".
24. in Section 7a of the paragraph. 1 at the end of the text of subparagraph (d)), the words ", if
ceases to exist without liquidation ".
25. In Section 7a of the paragraph. 2, the words "Permit to operate as a Bank granted"
replaced by the words "license granted".
26. in § 8 para. 3, in the second sentence, the words "the bank employee" is inserted
a comma and the words "which is not a member of the statutory body of the Bank".
27. in § 8 para. 3 (b). and), after the words "financial institutions"
the words "or banks or foreign banks" and the words "under the control of
the Bank "with the words" the financial institution or bank or
foreign banks that over the Bank carries out a check ".
28. in paragraph 8, the following paragraphs 6, 7 and 8 are added:
"(6) the Bank is required to establish an internal audit department that explores and
assesses in particular
functionality and efficiency) the management and control system of the Bank,
(b)) risk management system and compliance with the principles of prudent business bank.
(7) the head of internal audit shall not be member of the Board
Bank or of the Supervisory Board of the Bank.
(8) following the notification of the statutory body of the Bank is head of Department of the internal
audit findings must inform the Supervisory Board and in
the event, which may negatively affect the management of the Bank, is
obliged to give impetus to the special meeting of the Supervisory Board. ".
29. in § 9 para. 1 letter d) is added: "(d)) Organization ensure the internal
control system ".
30. In paragraph 11 (1) 1 at the end of the first sentence, the words "and of their
participation in payment systems ".
31. in paragraph 11 (1) 1, the first sentence, the following sentence is added: "on
request are required to provide information about the rules of the competent
the payment system ".
32. In section 11 paragraph 2 reads as follows:
"(2) in the information about the services that consist in taking over cash
resources from a client, or in providing these services must be
expressly and clearly shows this service for insurance claims
of the deposits, including limits for the payment of a single authorized person. The Bank and the
branch of a foreign bank is obliged to inform in writing in the official
the language or languages of the State in whose territory they are operating, how
payment of compensation from the deposit insurance fund (section 41a) or from another system
insurance that is involved, and how a claim with the Fund
deposit insurance or other similar insurance system, on which the
It is involved in. ".
33. In paragraph 11 (1) 3 the first sentence after the word "shareholders," the words
"on the structure of the consolidation unit [section 26 d of paragraph 1. 1 (b). and)], which is
part of it, "and at the end of the text of the first sentence, the words", published by the
in the journal of the Czech National Bank ".
34. In section 11 (1) 3 the second sentence after the word "Bank", the words ",
published in the journal of the Czech National Bank ".
35. In article 11, the following paragraph 5 is added:
"(5) the banks and branches of foreign banks are required to establish an effective
procedure for dealing with complaints and clients about this procedure,
in writing and in the official language or languages of the State in whose territory the
It acts, in their premises. ".
36. In paragraph 12, at the end of paragraph 1 the following sentence:
"The Bank should not be a partner of a limited partnership or a public
the business of the company. ".
37. In section 12 paragraph 3 reads:
"(3) banks are required to comply with capital adequacy to
individual and consolidated basis. ".
38. In section 12, the following paragraph 4 is added:
"(4) the Capital of the Bank shall not fall below the minimum amount of
capital provided for in section 4, paragraph 4. 1. ".
39. section 13 reads as follows:
"section 13
Banks are required to comply with the rules of the credit exposures to a
individual and consolidated basis. ".
40. in paragraph 14 of the text at the end of the first sentence, the words "on
individual and consolidated basis ".
41. section 15 reads as follows:
"§ 15
Rules under section 12 to 14 and the extent to which these rules are subject to
branches of foreign banks, as well as defining the notion of capital to
an individual and on a consolidated basis shall establish the Czech National Bank
the measure, published in the journal of the Czech National Bank. ".
42. In article 16(1). 1 letter c) is added:
"(c)) the merger of the Bank".
43. In article 16(1). 1 letter d) is added:
"(d)) to reduce the share capital of the Bank, unless it is for a reduction of
the share capital of the Bank to cover the loss, ".
44. In § 16 para. 2 at the end of subparagraph (b)), the words "including
submission of supporting documents necessary for the assessment of their professional
competence, integrity and experience. "
45. In article 16(1). 2 (c)) shall be deleted.
Subparagraph (d)) shall become point (c)).
46. in article 16, the following paragraph 16a is inserted:
"§ 16a
(1) the Bank shall be obliged to inform, in writing, of the intention of the Czech National Bank
Open a branch or representative office abroad, of the intention to provide services
abroad without the Foundation of a subsidiary and any discriminatory
measures of the State in whose territory the branch or representative office abroad
Act or to act or in whose territory they are or are to be
provision of services without establishing a branch.
(2) the Bank shall proceed in the event of intent to open a branch or provide
service without the Foundation of a subsidiary in a Member State of the European Union in accordance with
§ 5 c up to 5 m. The same applies in the case of intent to provide the services according to § 5 d
through financial institutions meeting the conditions under § 5e para.
1, which will provide services through their subsidiaries, or without
Foundation of a subsidiary. After receipt of the notification of the intention to open a branch of the Bank
or financial institutions abroad, the Czech National Bank will decide in
the administrative procedure, that the conditions laid down by the law of the European
the community for these cases in accordance with § 5 c up to 5 m.
(3) if the Czech National Bank in administrative proceedings, decides that the
the conditions laid down by the law of the European communities for these cases
According to § 5 c up to 5 m are not met, the decision is judicially reviewable. ".
47. In section 17(2). 2 at the end of the text of subparagraph (a)), and (b))
the words ", and that, on an individual and a consolidated basis".
48. In § 17 paragraph 3 reads:
"(3) the prohibition provided for in paragraph 1 and the restrictions referred to in paragraph 2 shall not apply for participation
banks in the legal entity resulting from the Bank's claims for this title
a legal person, if the Bank holds a participation for rescue operations
or the financial reconstruction of the legal person not more than 3 years from the
its acquisition. ".
49. In article 17, after paragraph 3, insert a new paragraph 4 is added:
"(4) the limits referred to in paragraph 2 does not apply to qualified participation of the Bank of
the title of the participation in the issuing of securities, and the provision of related
services, if the Bank holds a qualifying holding within a maximum of 12 months from the
its acquisition. ".
The current paragraph 4 shall become paragraph 5.
50. in paragraph 1 § 17a is inserted:
"(1) the control of the person, carries on the one who is in relation to this person
controlling person within the meaning of the commercial code. ".
51. In Article 17a. 2 the words "above which is exercised control"
replaced by the words "or above which, or over which they exercised
check ".
52. In section 17a. 3, after the word "that", the words "within the framework of their
business as a decisive or substantial activity is gaining market shares
other legal entities or ".
53. In section 17a shall at the end of the text of paragraph 3, the words ", all
including those based abroad and with similar activity ".
54. In Article 17a. 4, the words "more than" is replaced by "or their
a total that represents at least the ", the words" capital "
replaced by the words "capital" and after the words "person or" shall be inserted
the word "option".
55. In section 19 para. 1 (b). (c)), the words "their major shareholders"
replaced by the words "persons with a qualified interest in these persons ' and
the word "company" shall be replaced by the word "persons".
56. In § 19 para. 1 (b). (e)) the words "share of the capital
more than 10% "shall be replaced by" qualifying holdings ".
57. In § 19 para. 1 (b). f), the words "the principal shareholders of the Bank" shall be replaced by
the words "persons with a qualified interest in the Bank."
58. In article 19, paragraph 2 shall be deleted and paragraph 1 shall be abolished.
59. In paragraph 20, paragraphs 3 and 4, including footnote No. 5b) are added:
"(3) prior to the acquisition of a qualifying holding in a bank or before increasing
qualifying holding so that it reaches at least 20%, 33% or 50%
of the capital or of the voting rights, must have legal person
the natural person or persons acting in concert ^ 5b) consent of the Czech national
of the Bank. Consent of the Czech National Bank and the person must always have the closing with
the Bank, the contract as a person managing or carrying out other legal
the Act leading to the domination of the banks. Member of the Board, the management of the person
must meet the conditions laid down in this law for senior staff
of the Bank. Requirements for an application establishes the Czech National Bank by Decree. Czech
the National Bank does not grant consent if it was granted contrary to the
international agreement, to which Parliament gave its assent, which the Czech
Republic is bound and which was announced.
(4) before the intended reduction in qualifying holdings in the Bank, which
represented at least 50%, 33%, 20% or 10% of the capital
or voting rights, under these limits, or before the reduction
qualifying holdings in the Bank, as a result of the Bank ceases to be
the controlled person is a legal person, a natural person or persons
acting in shodě5b) is required to immediately report this fact to the United
the National Bank. The same obligation is in the case, if it intends to convert
the volume of shares or other rights, which itself represents
a qualifying holding in the Bank, or if it intends to lose or without
own volition has no longer the position of the controlling entity against the Bank. Essentials
notification shall determine by Decree of the Czech National Bank.
5B) joining the commercial code. ".
60. In section 20 (2). 6, the word "permit" shall be replaced by the words "the grant of
consent ".
61. In section 20 (2). 6, § 26 para. 1 (b). (b)), § 26 para. 3 (b). a) and section 34
paragraph. 1 and 3, the words "permit to operate as a bank ' shall be replaced by
"license".
62. In § 20 paragraph 8 reads as follows:
"(8) the implementation of the legal act contrary to the provisions of paragraph 3 does not have
result in its annulment. ".
63. In section 20, the following paragraph 9 to 12 shall be added:
"(9) legal action on the basis of the consent referred to in paragraph 3 can be done
not later than 1 year after the grant of consent.
(10) where the Czech National Bank within the period referred to in section 40 para. 5 shall not issue to
the request referred to in paragraph 3 of the decision, at least in the first instance, the
approval was granted.
(11) in the case that is not complied with the deadline for the submission of a complete application, it is
The Czech National Bank entitled to administrative procedure for granting consent
stop.
(12) the Bank shall be obliged to inform the Czech National Bank about all
the changes, if these changes are subject to the procedure referred to in paragraph 3
or 4, immediately after discovery of the facts. "
64. In section 20a para. 1 the introductory sentence as follows:
"In cases where the share of the Bank was acquired without the prior consent of the
The Czech National Bank pursuant to section 20 (2). 3 or after the time limit under section 20 (2). 9
and has not been granted consent pursuant to section 20 (2). 7, and in the cases where the
The Czech National Bank finds that the action of the person or persons
a qualified interest in the Bank is prejudicial to the proper and prudent
the business of the Bank, or can be reasonably expected of such an action, Czech
the National Bank shall suspend the administrative procedure to the holder of the shares, which has itself
or acting in concert with another person, a qualifying holding in the Bank;
the performance of these shareholder rights: ".
65. In section 20a, the following new paragraph 2 is added:
"(2) in cases where the Bank is operated as a result of a closed control
contract and this contract was concluded without the consent pursuant to section 20 (2). 3
or after the time limit under section 20 (2). 9 and has not been granted consent pursuant to section 20
paragraph. 7, and in the cases where the Czech National Bank finds that the
the action of the management person is prejudicial to the proper and prudent business bank,
where appropriate, such action can be reasonably expected, the Czech National Bank in
administrative proceedings shall suspend the effectiveness of the contract and the contract
expires at the earliest opportunity, who admits the commercial code.
The provisions of § 26 para. 6 and 8 shall apply mutatis mutandis. The decision to suspend
the effectiveness of the contract shall be published by the Czech National Bank in the commercial
journal. ".
Paragraphs 2 to 7 shall become paragraphs 3 to 8 and a reference to the
paragraph 2 in section 20a para. 4 in the first sentence shall be replaced by a reference to
paragraph (3).
66. In section 20a para. 3 the first and second sentence shall be added:
"The Bank is obliged to submit to the Czech National Bank listing of all shareholders and
administrators from the issuer's register of uncertificated shares, acquired at the date of that
about the 7 days preceding the date of the general meeting. This statement must be the Bank
delivered to the Czech National Bank not later than six days before the General
meeting. ".
67. In section 20a para. 6, after the words "" the words "under the conditions
stipulated by special legislation ".
68. section 20b is inserted:
"section 20b
(1) the banks on the territory of the United States transferred money to each other
resources in the Czech currency under individual items created on the
the basis of their statements and statements of their clients through the
payment systems operating in accordance with a special law or
through payment systems operated by the Czech national
the Bank.
(2) the Czech National Bank leads the Bank, which is a participant in a payment
system operated by the Czech National Bank, the interbank account
payments in Czech Crowns. Account of the interbank payment
contact cannot be subject to enforcement or interim measures.
(3) the provisions of paragraphs 1 and 2 shall also apply to branches of foreign
banks. ".
69. in section 20b is added to § 20 c, which reads as follows:
"§ 20 c
(1) if the Bank on the territory of the Czech Republic nezúčtovala amount in the Czech
currency or did not use the Bank connection in accordance with the client and
caused by an error in the settlement, Microsoft is required to correct the correction
clearing. This Bank is required to convert the account without delay
the authorized recipient of funds in the correct amounts and interest
arising from the contract during a period when he could not dispose of them. Interest is
does not convert, if the amount does not exceed $ 10, unless the return
an authorized recipient expressly requested. Repair clearing banker
the amount of the unauthorized recipient account can be made within 3 months from the date of
the error in the showdown. If the unauthorized recipient account incorrectly
cleared payments other Bank, is Bank, which caused the error, shall be entitled to
give this bank stimulus to the debiting of his account.
(2) the Bank that the account is unauthorized recipient of incorrectly cleared
payment is in compliance with the principles set out in paragraph 1 shall be entitled to
to write off the amount from his account of the amending of clearing and recalculate
interest on the funds so that the account was caught by the State, as
would incorrectly posted payment received; If the error was in the reckoning
caused by another bank, is required to write off the money from his
account on the initiative of the Bank, and issue is that Bank.
(3) the Provisions of settlement shall be payable by the tax administrator accounts is excluded; the Bank,
that caused an error in clearing, requests the reimbursement of the amount of the relevant
the tax administrator.
(4) the technical procedures for banks in the settlement provides for the appeal and the Czech national
Bank by Decree.
(5) the provisions of paragraphs 1 to 4 shall also apply to branches of foreign
banks. ".
70. in article 21, paragraph 2 shall be deleted.
The former paragraph 3 shall become paragraph 2.
71. section 22, including footnote # 6 c) is added:
"§ 22
(1) the Bank shall ensure that the legal or natural person, the executing
the audit function under special legislation ^ 6 c) (hereinafter referred to as
"the audit firm") has
and verification of the financial statements of the Bank),
(b)) the verification of the management and control system of the Bank including the management system
risks,
(c)) the development of authentication messages accounts and systems referred to in point (a)
(b) submission of these reports) and the Czech National Bank, within a specified
dates.
(2) the Czech National Bank may verify the systems referred to in paragraph 1 (b). (b))
waive or limit the requirement to only some of their components.
(3) the selected firm, the Bank is required to notify the United
the National Bank, which may, within 30 days after receipt of this notification
the audit company. The Bank is required to notify, within 30 days after
refusal of the Czech National Bank audit firm.
(4) verification of the facts referred to in paragraph 1 may not perform in the Bank
the audit firm, which has a special relationship to the Bank pursuant to § 7 para.
1. The same is true for natural persons carrying out on behalf of the audit
company audit work.
(5) the determination of the deficiencies must be in the reports referred to in paragraph 1.
(c)) expressed the effect that these shortcomings in the management and liquidity
the Bank and on the formation and distribution of profit.
(6) the obligations referred to in paragraphs 1 to 5 shall apply mutatis mutandis to branches
foreign banks.
6 c) section 15 of Act No. 254/2000 Coll. on Auditors and on the amendment of Act No.
165/1998 Coll. ".
72. In § 24 para. 2 the words "share capital" shall be replaced by
"share capital".
73. the heading of part six:
"BANKING SUPERVISION AND OBLIGATION OF SECRECY".
74. In the sixth, the designation "head FIRST" is deleted.
75. section 25 reads:
"§ 25
(1) the activities of banks and their branches operating in the territory of a foreign State
is subject to banking supervision by the Czech National Bank, including
checks on the spot. The activity of branches of foreign banks is subject to supervision
country of residence of foreign banks, and to the extent provided by law, the Bank
supervision by the Czech National Bank. The activities of the consolidation
entities [section 26 d, paragraph 1 (a))], which is part of the Bank, shall be subject to
banking supervision on a consolidated basis by the Czech
the National Bank, including spot checks, unless the law provides otherwise.
(2) the Czech National Bank may ask for a check on the spot for her
supervised persons outside the supervision of the competent authority of the Czech Republic
State. The Czech National Bank may grant the request of a supervisory authority of the country of
headquarters of the Bank or financial institution to perform spot checks on it
a supervised Bank or branch of a foreign bank. Carrying out checks on the spot
supervisory authority to the country of residence of the foreign bank or financial institution
The Czech National Bank will allow, on the basis of reciprocity. ".
76. under section 25 shall be added to § 25a is inserted:
"§ 25a
(1) all persons carrying out banking supervision or administration are
required to maintain the confidentiality of all information obtained in the context of
with the exercise of their profession, occupation or function. Can provide
to third parties only in aggregate form, which cannot be
identify the specific bank or person in question. The obligation to
secrecy continues after the end of the occupation, employment or functions.
(2) information obtained in the performance of their powers can a person referred to in
paragraph 1 shall apply only to the performance of the tasks of banking supervision, forced
Administration, or in the trial of an action against a decision taken in
connection with the performance of banking supervision, or similar proceedings before
international body.
(3) for the breach of confidentiality is in compliance with the legal
terms and conditions does not constitute the provision of information acquired in connection with
the banking supervisory authority, the power of supervision of financial institutions
or the financial markets in the Czech Republic or supervisory authority over banks,
financial institutions or financial markets in another State.
(4) for the breach of confidentiality is in compliance with the legal
terms and conditions does not constitute the provision of information acquired in connection with
performance of banking supervision for public authorities and other persons in the United
Republic, if the information provided for the performance of their functions,
and when disposing of the bodies) or bankruptcy at a bank or financial
institutions,
(b) the supervisory authority) according to point (a)),
c) auditor statutory financial statements of the Bank or financial
institutions,
d) supervision of an auditor of the accounts provided for bank or financial
institutions,
e) supervision of compliance with company law,
(f) to combat the legalization) of proceeds of crime,
g) oversight of payment systems,
(h) the operator's payment system)
I) Authority participating in criminal proceedings,
(j)) of the Central Bank is responsible for monetary policy,
to insurance claims from the systems) deposits and insurance investors.
The same is true in relation to public authorities and other persons in the States
Of the European Union.
(5) information obtained in connection with the performance of banking supervision may
also be provided to the institutions of the European Union, if it is needed to
the fulfillment of international agreements.
(6) the provision of the information referred to in paragraphs 3 and 4 is only possible for
condition that the institution is a scheme for the protection of
information at least to the extent of that law.
(7) the information obtained from the authorities of foreign States cannot be used to
any purpose other than that for which it was provided, and may not be without
consent of the provider made available to anyone else.
(8) information obtained in the course of supervision in place on the territory of another State
must not be without the consent of that State banking supervisor
made available to anyone else. ".
77. in section 25a, the following text:
"PART SEVEN
REMEDIAL MEASURES AND PENALTIES ".
78. In section 26 para. 1 (b). a), the words "share capital" shall be replaced by
"capital" and "equity" are replaced by the words
"share capital".
79. In § 26 para. 1 (b). (b)) after the word "activities", the words "in the
"and the words" in article 1 (1). 3 "shall be deleted.
80. in § 26 para. 1 (b). f), the words "share capital" shall be replaced by
"the capital".
81. In section 26 para. 1, letter f) dot replaced with a comma and the following
the letter g) is added:
"(g)) prohibit or restrict the execution of operations with persons that are linked
close links with the Bank, or that are part of the same
the consolidated Group as a bank or have a special relationship with the Bank (§
19). ".
82. In § 26 para. 2 the second sentence, after the words "paragraph 1 (b). (d)) "
the words "and (g))."
83. In section 26 para. 3 at the end of subparagraph (a)) the following words "or non-compliance with
the conditions under which the licence was granted under section 4 (4). 3 or § 5
paragraph. 4. "
84. In section 26 para. 3 (b). (b)) after the word "violation", the words "or
circumvention. "
85. In section 26 para. 3 (b). (c)), after the words "Bank", the words "or
a branch of a foreign bank "and the words" banking system "shall be replaced by
the words "the Bank or branch of a foreign bank".
86. In § 26 para. 3 (b). (d)), after the word "Bank", the words "or
a branch of a foreign bank "and the words" good citizen "shall be replaced by
the word "trusted".
87. In section 26 para. 3 (b). (e)) at the end of the dot is replaced by a comma and
the following points (f) and (g))) are added:
"(f)) violation of law State, in whose territory the Bank branch,
While business in the territory of that State,
(g) capital below the minimum) the decrease of the amount of the share capital (§ 12 para.
4).".
88. In § 26 para. 4, the word "and" shall be replaced by a comma and the words "the basic
the assets "are replaced by the words" of the capital, and the prohibition or restriction
the implementation of the operations ".
89. In section 26a para. 1 the words "the ratio of capital to risk-weighted assets
the Bank "shall be replaced by the words" capital adequacy ratio of the Bank on an individual
the basis ".
90. in section 26a para. 1 (b). a), the words "share capital" shall be replaced by
"core capital" and the words "the ratio of capital to risk-weighted assets
the Bank "shall be replaced by the words" the solvency ratio of the Bank on the
an individual basis ".
91. In section 26a para. 1 (b). (c)), the words "capital" shall be replaced by
"the capital".
92. In section 26b of the words "the ratio of capital to risk-weighted assets"
replaced by the words "capital adequacy of the Bank on an individual
the basis ".
93. under section 26b of the section 26 c shall be inserted up to within 26 h, they are referred to as part of the
the eighth, and including the following title:
"PART EIGHT
BANKING SUPERVISION ON A CONSOLIDATED BASIS
section 26 c
(1) the banking supervision on a consolidated basis shall mean the tracking and
the risk controls for the consolidation plant, the part of the Bank is, for
to reduce the risks to which the Bank is exposed in terms of its participation
in the consolidation.
(2) banking supervision on a consolidated basis is not the supervision of
each of the persons included in the consolidated Group and does not replace the
the performance of banking supervision over banks on an individual basis
under this Act, or under the supervision of financial institutions
special legislation.
(3) in the exercise of supervision on a consolidated basis of the Czech National Bank
cooperates with the authorities in the supervision of financial institutions in the United
Republic and with the authorities in the supervision of banks and financial institutions in the
abroad, and has the right to exchange information with these authorities. The provisions of the
§ 25a shall remain unaffected.
(4) the Czech National Bank may, for the purpose of banking supervision at the
consolidated basis, carry out checks on the spot in the persons covered
in the consolidated entity or request the competent authority of the
supervision. The Czech National Bank informs about the opening, of the purpose and results of the
the-spot checks, the competent authority of supervision of controlled person.
The provisions of § 25a shall remain unaffected.
section 26 d
(1) for the purposes of this Act, means the
and for the consolidation of the controlling group), units of the Bank or a group of financial
the holding company or a mixed-activity holding company, the Group
with the consolidated accounts for at least two persons,
(b)) the controlling Bank Bank, whose subsidiary or associated
companies are banks, financial institutions or undertakings offering ancillary
banking services,
(c)) financial holding company controlling person that is a financial
institutions other than the insurance company, which controlled entity are exclusively or
mostly banks or financial institutions, at least one
controlled entity must be a Bank,
d) mixed‐activity holding company controlling a person who is not
financial holding company or by the Bank, the person and its controlled
include at least one pot,
(e) controlling the Bank Group) group formed by the Bank, its controlled
entities and associated companies,
(f)) a group of financial holding companies group formed by the financial
the holding company and its controlled entities and associated
companies,
g) by a group of mixed-activity holding company made up of a mixed group
the holding company and its controlled entities and associated
companies,
h) an associated company legal person in which the other person
a direct or indirect share of at least 20% of the capital or
voting rights, if the legal person does not control.
(2) in the case where binding within the consolidated Group are such
character, it is not possible to conclusively determine the controlling person or his
type, the Czech National Bank is authorised to determine, in agreement with the competent
the supervisory authority of banks or financial institutions controlling
the person of the consolidated group or its type.
(3) the Czech National Bank may determine by Decree the criteria for removing the
people from the supervision of the consolidation unit.
section 26e
(1) the Czech National Bank may refrain from the exercise of banking supervision at the
a consolidated basis of consolidation in total, over which is practiced
banking supervision or comparable supervision on a consolidated basis
supervisory authority or supervision in the home country or in another State. Czech
the National Bank may agree the conditions of supervision on a consolidated basis
with that authority. However, the Czech National Bank always carries out banking supervision
on a consolidated basis over a group of controlling a bank located in the
The Czech Republic.
(2) the competent supervisory authority to the country of residence of the Bank or financial
institution, unless otherwise agreed, the Czech National Bank does not exercise supervision over
a group of financial holding companies established in another Member
State of the European Union where
and a member of this group) financial holding company is a bank
registered offices in that State, or
b) belong to this group is a bank based in another State of the European Union,
While the Bank is based in the Czech Republic, which is a member of the group, has
in comparison with this Bank, lower balance sheet total; they have both banks
the same high balance sheet total, if the Bank is based in the United
Republic has received the license later.
section 26f
(1) the controlling entity, whose consolidation units are subject to the Bank
supervision on a consolidated basis are required to comply with the rules
a prudent business persons on a consolidated basis. This
the rules and the extent to which these rules are subject to different types of
of persons, established by a decree of the Czech National Bank.
(2) the persons included in the consolidated Group are required to communicate to the United
the National Bank directly or through the controlling person or Bank,
that is part of the consolidated Group and the Czech
National Bank, all the information necessary for the implementation of the supervision on a
a consolidated basis. Way to pass information, scope, and
the periodicity shall lay down by Decree of the Czech National Bank.
section 26 g
(1) persons included in the consolidated group must create the corresponding
control mechanisms to ensure the accuracy of the information provided for
the purposes of supervision on a consolidated basis.
(2) the controlling person shall notify in advance the Czech National Bank Auditors and
the audit firm that will audit the people included in the
consolidation.
§ within 26 h
(1) the Czech National Bank in the administrative procedure may save a person included
in the consolidated entity, which is not a Bank, a fine up to 50 0000 0000
In cases where it does not provide the required information for the purposes of
banking supervision on a consolidated basis or provide information
incomplete, untrue or distorted, or fails to comply with the time limits for their
submission.
(2) if the Czech National Bank, shortcomings in the activities of the person included
in the consolidated entity, which is not a Bank, which may negatively
affect the management of the Bank, which is part of the consolidated Group, is
entitled to in relation to the controlling Bank or financial holding
the company according to the nature of the observed lack of
and) require that jumped into the correction within the time limit,
(b) ensure extraordinary audit) requires a person who is part of the
the consolidated Group, at the expense of the controlling entity,
(c) impose a fine of up to 50 0000 0000) $
d) prohibit or restrict the execution of operations with persons who are part of the
the same consolidated Group.
(3) a lack of in the activities of the person included in the consolidated Group,
that is not a Bank, means a
and) violation of this Act, or to circumvent the specific laws,
regulations issued by the Czech National Bank and the legislation under section 5 k,
(b)) the implementation of the stores within the consolidated group or externally
in a way that harms the interests of the depositors of the Bank, which is part of the
the consolidated Group, or threatens its security and stability.
(4) The procedure for the imposition of measures pursuant to paragraph 2 (a). (b)) to (d))
subject to the provisions of the administrative procedure, unless this Act provides otherwise.
The provisions of § 26 para. 6 to 9, 11 and 12 shall apply mutatis mutandis; a participant in the
control is the controlling entity concerned only. ".
94. under section within 26 h, the words "SECOND HEAD" is replaced by "PART NINE".
95. In section 27 para. 1 at the end of the text of the letter b), the words "and
name, last name and social security number, a representative of the administrator ".
96. In section 27, paragraph 2, the following paragraph 3 is added:
"(3) the representative shall represent the Manager administrator in his absence, in the
full. Provisions of this Act relating to the administrator applies
mutatis mutandis to the Deputy Administrator. ".
The former paragraph 3 shall become paragraph 4.
97. In section 29 para. 1 at the end of the first sentence, the words ", except for the
appeals against the administration. "
98. In section 29 para. 1 the second sentence, the words "this moment" are replaced by
the words "the time of delivery".
99. In section 29 para. 3, after the words "Ministry of finance" shall be inserted after.
100. In § 31 para. 2, after the word "management", the words "the end of the
the Administration ".
101. the words "HEAD" and the heading "the THIRD WITHDRAWAL of AUTHORISATION to ACT AS a
The BANK "shall be replaced by the designation" PART TEN "and the heading" WITHDRAWAL
The licence ".
102. In the introductory part of paragraph 34 paragraph 2, the words "Permit to act as a
the Bank "shall be replaced by the word" license "and the word" withdrawn "is replaced by
"withdrawn".
103. In § 34 paragraph 1. 2 (a). a) after the word "Bank", the words "or
branch of a foreign bank "and in the end, the words" or
does not provide loans. "
104. In § 34 paragraph 1. 2 (a). (b)), the words "obtained" is replaced by
"obtained".
105. In § 34 paragraph 1. 3 the words "the ratio of capital to risk-weighted assets
the Bank "shall be replaced by the words" capital adequacy ratio of the Bank on an individual
the basis ".
106. In § 35 para. 1 the word "permit" shall be replaced by the word "license".
107. In article 35, the following paragraphs 3 and 4 are added:
"(3) the decision to revoke the licence delivers the Czech National Bank
the statutory body of the Bank. At the same time inform the decision of the authority
banking supervision States in which the Bank has a branch.
(4) the decision to revoke the licence granted for a branch of a foreign bank
the Czech National Bank will deliver to the person responsible for the management of the branch. ".
108. the words "PART SEVEN" is replaced by "part of the ELEVENTH".
109. In § 36 odst. 1 the words "If the Bank withdrawn authorisation
as the Bank "shall be replaced by" If the Bank was deprived of license. "
110. In § 36 odst. 2, the second sentence shall be deleted, the words "or" shall be deleted;
and after the word "is" with the words "or in the last 5 years" and
at the end of the paragraph, the following sentence is added: "taking into account the
the scope of activities of the liquidator shall fix the amount of and the Czech National Bank
the maturity of its rewards. ".
111. In paragraph 36, at the end of the text of paragraph 4, the following words: ", and to
the written request, the Czech National Bank supporting documents necessary to
assessment of the activity of the liquidator and the liquidation ".
112. In § 36 paragraph 5 is added:
"(5) the liquidator is obliged to enforce the surrendering of the invalid law
(section 12 (2)). ".
113. the words "PART EIGHT" is replaced by "PART TWELVE".
114. In paragraph 37, the current text shall become paragraph 1 and the following
the new paragraphs 2 to 5, including the footnotes # 7b) to 7e)
shall be added:
"(2) the banks and branches of foreign banks are required for the purposes of
banking business to discover and handle the data on persons, including
sensitive data about individuals, ^ 7b) needed to make
possible banking business to take place without undue legal and factual
the risk for the Bank.
(3) the obligation to provide free of charge information about the personal data
processed by the data subject set out specific legal
Regulation 7 c) on ^ banks and branches of foreign banks.
(4) the banks and branches of foreign banks are required to make in their operating
the premises of the natural person, in writing, inform the Bank and branch
foreign banks are not subject to the obligation to inform the physical free of charge
persons on personal data processed about them, that the provision of personal
the data bank is voluntary, but it is the condition for the implementation of the Bank
trade, and on the right of individuals to seek redress under the Special
legislation, ^ 7 d) as well as about the possibility for banks to obtain data from the
third parties, in particular under section 38 (a) of paragraph 1. 1 and 2.
(5) the data referred to in paragraph 1, as well as the data obtained from other entities,
in particular, under section 38 (a) of paragraph 1. 1 and 2, for the branches of foreign banks
provide for processing to the Head Office of the foreign bank, if it has its registered office in
State law guarantees that it will respect the confidential nature of the
data in accordance with the law of the European communities. If it is necessary to
the conclusion or performance of a contract between the Bank and the client, the Bank and the
branches of foreign banks provide such data for processing in the
State law guarantees that it will respect the confidential nature of the
data in accordance with the law of the European communities. The consent of the Office for
protection of personal data under a special legal regulation ^ 7e) in
the cases referred to in this paragraph requires only before the first
by providing information to the State.
7B) section 9 of Act No. 101/2000 Coll., on the protection of personal data and on amendments
Some laws.
7 c) § 12 para. 2 of the Act No. 101/2000 Sb.
7 d) § 21 of Act No. 101/2000 Sb.
7E) section 27 of Act No. 101/2000 Sb. ".
115. In § 38 paragraph 1(a). 3 (c)):
"(c)) to the tax authorities in accordance with a special law on administration of taxes and
the fees ".
116. In § 38 paragraph 1(a). 3 (f)):
"(f)), the social security authorities in case of any insurance on the
social security contributions to the State employment policy,
that the client owes the social security authorities or district offices
in the matter of the overpayment proceedings on the social security contributions and the State
social support, that the client is obliged to return; This also applies to
enforcement of this insurance, allowance and overpaid, ".
117. In § 38 paragraph 4 is added:
"(4) the Bank shall be obliged to communicate without the agreement of the client on written request
the social security institutions or the district offices in the case of proceedings for
return a batch to the account credited after the death of the beneficiary, including the
the recovery of identifiable information about his client, which is the account owner,
and persons authorized to dispose of the funds in that account and
information on matters relating to this account. The Bank is also
After the death of the client shall be obliged to communicate these data to the written request of the authority
work. ".
118. In § 38 paragraph 1(a). 6, after the words "enforcement", the words
"or tax enforcement."
119. In paragraph 38, paragraph 7 shall be deleted.
Paragraphs 8 and 9 shall be renumbered as paragraphs 7 and 8.
120. In § 38 paragraph 1(a). 8 sentence the third digit "8" is replaced by the figure "7".
121. In paragraph 38, the following paragraph 9 and 10 are added:
"(9) the provisions of paragraphs 1 to 8 shall also apply to branches of foreign
banks.
(10) a report on matters relating to the client, which are subject to
banking secrecy, shall report to the Bank in connection with its business on the
territory of another State without the consent of the client, if it is necessary to meet the
obligations imposed by the laws of the State on whose territory it is taking. "
122. In paragraph 38 (a) of paragraph 1. 1 the first sentence after the word "Bank", the words "and
branches of foreign banks. "
123. In paragraph 38 (a) of paragraph 1. 1 the last sentence, after the words "Bank", the words
"a branch of a foreign bank" and the words "other banks" are the words
"a branch of a foreign bank".
124. In § 38a is inserted after paragraph 1 paragraph 2, including the
footnote # 10a) is inserted:
"(2) the Czech National Bank produces from data obtained in the range according to the
paragraph 1 from banks, branches of foreign banks ^ 10a) and others
If provided for by a special law, information database. The information in this
the database have access to banks, branches of foreign banks and other persons
If provided for by a special law, under conditions laid down by Decree of the Czech
the National Bank. The provision of information in this database is not a violation of the
Bank secrecy. The Bank and the branch of a foreign bank, however, is required to
to the information about the clients of other banks or branches of foreign banks gained
from the information database access as if it were data on its
custom clients.
10A) § 41 para. 2 of law No 6/1993 Coll. on Česká národní banka, as amended by
amended. ".
Paragraphs 2, 3 and 4 shall become paragraphs 3, 4 and 5.
125. In section 38a, paragraph 5 shall be deleted.
126. under section 38a, the following new section 38b-38 h shall be inserted:
"section 38b
(1) data, which are subject to banking secrecy, the Bank may, on
which has a qualifying holding of a foreign legal person, above which is in
the country of its offices and supervised on a consolidated basis,
authorities in the execution of this supervision.
(2) data, which are subject to banking secrecy, may Bank, which
It is part of the consolidated Group, provide the controlling entity for the purpose of
preparation of reports on a consolidated basis.
section 38 c
The Czech National Bank carries out consultation and information duty to
the banking supervisory authorities of other States, the authorities of the international
organizations and other persons to the extent of the international treaty. Enumeration
basic facts notified and consulted is provided in § 38d
up to 38 h.
§ 38d
(1) the Czech National Bank shall inform the Commission of the European communities
in particular, the
and) number and nature of cases in which refused to allow the Bank or financial
institution that meets the conditions of § 5e para. 1 based on the territory of the
The United States establishment of a branch in another Member State of the European Union or when
apply to branch office listed in section 5a paragraph 2. 1 the procedure under section 26,
(b)) granted and withdrawn the licenses
(c) a bank controlled by the granting of a license) by the person governed by the law of the State which
It is not a member of the European Union, and on the structure of the consolidated Group, which is
This part of the Bank,
(d)) the fact that the Bank has become a person controlled entity governed by the
the law of the State which is not a member of the European Union, and on the structure of
the consolidated Group, which is part of the Bank,
e) discriminatory measures are applied to banks in
the establishment of branches in the States, which is not a member of the European Union,
f) financial holding companies,
g) agreements pursuant to section 26e,
(h)) use of the procedure under section 26 to the branch office listed in section 5a paragraph 2. 1 in the
When the matter is urgent and necessary in the interests of depositors.
(2) the Czech National Bank shall inform the Commission of the European communities on
her request for applications
and) persons controlled by person governed by the law of a State which is not a member of the
The European Union, for a license,
(b)) of the person governed by the law of a State which is not a member of the European Union, or
a person controlled by a person governed by the law of a State which is not a member of the
The European Union, on the acquisition of a holding in the Bank, which would
the applicant became a person controlling a bank.
§ 38e
(1) the Czech National Bank shall inform the competent authority of the Member
State of the European Union on the
and the consolidation of all entities) which includes Bank and at the same time
the Bank, based in the territory of a Member State of the European Union or a financial
institutions meeting the conditions under § 5e para. 1 based on the territory of the
the Member State of the European Union,
(b)) information to the Bank or financial institution which meets the requirements under section
paragraph 5e. 1, that intends on the territory of the Member State of the European Union to establish
a branch or provide services, and amending the data reported
(c)) the fact that a financial institution no longer fulfils the conditions referred to in
§ 5e para. 1,
(d)) the procedure under section 26 to the branch office listed in section 5a paragraph 2. 1 in the
When the matter is urgent and necessary in the interests of depositors,
e) consent pursuant to § 29 para. 3 in the event that the Bank in question has
establishment in the territory of that State; This information shall provide the competent
supervisory authority before granting consent or immediately after its
granted, if the thing does not tolerate delay.
(3) the Czech National Bank shall consult the supervisory authority
the Member State of the European Union grant
and) license the Bank, which is under the control of a bank located within the territory of
of this State or under the control of the same person as the Bank based on the
territory of that State,
(b)) the consent with the acquisition of qualified equity investments at the Bank, in which the
as a result, the Bank would become part of the consolidated Group, whose
There is a bank based in the territory of that State.
§ 38f
Before the decision on the amendment or withdrawal of the license of the Bank, which has a branch on the
territory of a Member State of the European Union, the Czech National Bank shall consult the
my intention with the banking supervisory authority of that Member State. If the case does not tolerate
delay, the Czech National Bank shall inform the supervisory authority of its intention
license change or remove. The Czech National Bank informs about changing or
the withdrawal of the licence without delay banking supervision authorities of the States in which it has
Bank branch. The same applies in the case of the intention to remove the license branch
foreign banks, which also has a branch in the territory of a Member State
Of the European Union.
§ 38 g
The Czech National Bank may carry out on-site inspection in the territory of the Member
State of the European Union informed the banking supervisory authority
of this State or of the implementation of this control request.
§ 38 h
(1) the Czech National Bank cooperates with the supervisory authorities of the other
States, in particular those on whose territory the Bank branch or on the
It has its seat, the foreign bank branch on the territory of the United
of the Republic.
(2) the Czech National Bank provides to the supervisory authorities referred to in paragraph 1
in particular, information
and bank shares) or a foreign bank,
(b)) on the management of the Bank or a foreign bank,
(c)) of the capital foreign bank controlled by a bank or financial
companies,
(d) the capital adequacy indicator) and a consolidated indicators
capital adequacy,
e) of the financial holding companies,
f) important for the supervision of these banks or foreign banks,
in particular in the areas of liquidity, solvency, deposit insurance,
capital adequacy, consolidated supervision, accounting, internal
control and monitoring of the risks arising from the open positions on the
financial markets in the Czech Republic or in the territory of the State, on the
whose territory the Bank underwent such risks. ".
127. In § 39 para. 1, the words "as well as" replace clutch "and", the words
"and the people performing banking supervision" shall be deleted and the number "3"
the following digit "4".
128. In section 40 para. 1, the word "its" is replaced with "her".
129. In § 40 paragraph 3 reads:
"(3) the Czech National Bank shall issue a decision on the granting of licences, amending
licence or to reject an application for a licence or for an amendment of the licence up to 6
months from the date of commencement of the administrative procedure and decision within this period, the
delivers. In the case that brought the request was incomplete and the Czech National Bank
sought her replenishment, the Czech National Bank shall issue a decision within 12
months from the date of commencement of the administrative procedure and decision within this period, the
delivers. ".
130. In § 40 paragraph 3 shall be inserted after paragraph 4 to 6, which
shall be added:
"(4) in the event that, after the completion of the application request on the part of the Czech national
the Bank is again submitted application is incomplete or is not complied with from
by the applicant, the period for the Czech National Bank for its
the tween, the Czech National Bank is entitled to the administrative procedure for granting
stop the license.
(5) on an application for consent under this Act shall be decided within 3
months from the date of commencement of the administrative procedure.
(6) the rejection of the application for the grant of a license, on its amendment or rejection
consent under this Act shall be duly justified. ".
The current paragraph 4 shall become paragraph 7.
131. In section 40 para. 8, the words "permit to operate as a bank ' shall be replaced by
the word "license".
132. the words "PART NINE" is replaced by "part of the THIRTEENTH".
133. In section 41a of paragraph 1. 3, in the last sentence, after the word "Provisions"
the words "section 5a paragraph 2. 4. "
134. In article 41 c of paragraphs 6 and 7 are added:
"(6) the annual contribution of the Bank to the Fund shall be 0.1% of the average volume of
insured receivables from deposits for the previous year, including interest.
The average volume of insured receivables from deposits, the Bank calculated in accordance with
the status of insured receivables from deposits on the last day of each
calendar month in the previous year, including interest on the
credited to the depositor was entitled on the same date. The calculation is carried out in
the Czech currency. Claims of deposits denominated in a foreign currency for conversion
the Czech currency foreign exchange market the rate announced by the Czech national
by the Bank on the date on which the calculation is performed.
(7) the annual contribution of building societies in the Fund is 0.05% of the average
the volume of insured receivables from deposits for the previous year, including interest,
on the crediting of building savings participant was entitled in the
the previous year. The average volume of insured receivables from deposit
building society calculates according to the quarterly insured status
Receivables from deposits in the preceding year, without counting the State
support. ".
135. In paragraph 41 d of paragraph 1 reads:
"(1) the compensation for the claim of an insured deposit with an authorized person of the
The Fund will provide after the Fund receives written notification of the Czech national
the Bank or, in the case of a branch of a foreign bank in accordance with § 5a,
připojištěnou pursuant to § 41 m, the banking supervisory authority of the home state of the
the inability of banks to live up to commitments to beneficiaries for legal
and terms and conditions. Such notice must be issued no later than 21
days from the date of the relevant facts and findings to the Bank or the former Bank
must be communicated in writing to. ".
136. In paragraph 41 d of paragraph 1. 2 in the first sentence, the word ' publish ' is replaced by
"publish".
137. In section 41e, the following paragraph 3 is added:
"(3) If, for the purpose of paying the refund from the Fund for a qualifying
person more advantageous to use the foreign exchange market the rate promulgated by the Czech national
by the Bank on the date of the initiation of the payment, the beneficiary shall be entitled to be paid
the relevant difference. ".
138. In section 41f para. 2 in the first sentence, the words "depositor" is replaced by
"account holder".
139. In section 41f para. 4, after the word "provide" the words "authorized
persons ".
140. In section 41f para. 5, in the first sentence the word "depositor" is replaced by
"account holder", and the second in the sentence, the word "Depositor" is replaced by
"Account holder".
141. In § 41 para. 3 (b). and at the end of the text), the words "with the
exception of those mentioned in § 19 para. 1 (b). (e)) ".
142. under § 41l § 41 m shall be inserted, as follows:
"§ 41 m
(1) the branches of foreign banks can deposit be reinsured claims on
under a contract with the Fund. Contribution to the Fund is equal to the contribution under section
41 c, multiplied by a fraction, the numerator of which is the difference between € 25 000 and
the limit for the maximum reimbursement under the insurance claims from the system
deposits of which it is a branch employee, expressed in euro and in the denominator
eur 25 000.
(2) supplementary insurance referred to in paragraph 1 shall cease on termination of the contract with the annual
period of notice, which shall start to run on the first day of the year following
then, when the notice was served. The Fund may cancel the contract only when the
a branch of a foreign bank obligations to the Fund, in the case of
a branch of a foreign bank in accordance with § 5a, however, only in the case where a
proceed in accordance with § 5a paragraph 2. 6. A branch of a foreign bank may
terminate the contract without giving reasons. On these facts is an affiliate
Foreign Bank required to notify clients in their operating
areas.
(3) the Bank shall not take advantage of the differences in advertising credit insurance from
deposits between the Member States of the European Union. ".
143. the words "PART TEN" is replaced by "part of the FOURTEENTH".
Article II
Common and transitional provisions
1. If the provisions of an international treaty, which was approved by the
Parliament, ratified and promulgated, and which the Czech Republic is bound,
provides otherwise than the provisions of Act No. 21/1992 Coll., on banks, as amended by
the existing legislation and this Act, the provisions of this
of the Treaty. The provisions of the preceding sentence shall also apply to similar international
the Treaty, which entered into force before 1 January 2005. before 1 January 1993.
2. the provisions of Act No. 21/1992 Coll., on banks, as amended by this Act,
(hereinafter referred to as "the Act") relating to the Member States of the European Union
also apply to other States of the European economic area, if
It is thus apparent from the international treaty, which was approved by the Parliament,
ratified and promulgated, and which the Czech Republic is bound, or from
similar to the international treaty, which entered into force before 1. January
1993.
3. Czech National Bank issues in the administrative proceedings initiated by her
the design of the initiative without all banks operating in accordance with existing legal
regulations on the territory of the United States banking license in accordance with this
the law; the Bank will also be issued licenses to foreign banks,
the offices operating on the territory of the Czech Republic according to present
legislation. The date on which the decision to issue banking licences
the judicial power, the authorisation as a Bank, where it has been granted
According to the existing legislation.
4. the banks are required to set up an internal audit service under § 8 para. 6
This law within 1 year from the date of its effectiveness.
5. the Bank shall be obliged to bring its statutes and its investments in
public companies and limited companies to
accordance with this Act within one year of the effective date of its effectiveness.
6. when calculating the amount of the additional refund interest on receivables from deposits
be calculated in the case of Pragobanka, a.s., Prague, now in bankruptcy, to
on 1 January 2007. 12.1998; in the case of the Universal Bank, a. s., Ústí nad Labem, now
in bankruptcy, on 17 March 1998. 5.1999; in the case of Moravia Banka, a. s.
Frýdek-Místek, now in bankruptcy, on the day 11. 10.1999.
7. the date of the initiation of the payment of additional compensation are transferred to the Fund
insurance claims from depositors ' claims for bank deposits in the amount of
rights of depositors insurance fund to meet the claims of the deposits.
8. with effect from the entry of the Treaty of accession of the Czech Republic
The European Union, in force on 41l in the section para. 1, the words "as a system
insurance of receivables from deposits under this Act "shall be replaced by
"what is required by the law of the European communities".
Article. (III)
Deposits recorded in the books of certificates to bearer
The system of credit insurance on deposits does not apply to deposits registered
in their books on the bearer. All deposit relations confirmed
vkladními books to bearer shall be abolished on the date of 31. December 2002.
The right of depositors to payment of the balance of the cancelled deposit shall be barred
the expiry of 10 years from the date of 31. December 2002.
Article IV
A mandate
The Prime Minister shall be empowered, in the collection of laws promulgated the full text
Act No. 21/1992 Coll., on banks, as is apparent from later laws.
PART TWO
To change the foreign exchange law
Article. In
Act No. 219/1995 Coll., the Foreign Exchange Act, as amended by Act No. 155/2000 Coll.
Act No. 366/2000 Coll. and Act No. 483/2001 Coll., is amended as follows:
1. In paragraph 1 (b). l), point 1, the words "permit to operate as a bank
granted "are replaced by the words" a banking license granted ".
2. In paragraph 1 (b). (l)), the following paragraph 4 is added:
"4. a person authorised to conduct foreign exchange values, or to
implementation of payments in relation to foreign countries on the basis of the principle of
the single license, 16) ".
3. In article 3, paragraph 3. 1, the words "which is not a bank under a special legal
předpisu16) "shall be replaced by the words" which does not carry out activities on the basis of
Bank or the single licence pursuant to a special Act ".
4. In article 3, paragraph 3. 6, the words "permit to operate as a bank ' shall be replaced by
"the Bank or the single license".
5. In article 7 (2). 1 the words "authorisation as a bank ' shall be replaced by
"the Bank or the single license".
6. § 9 para. 1 the words "authorisation as a bank ' shall be replaced by
"the Bank or the single license".
PART THREE
Amendment of the Act on reserves for the findings of the corporate tax base
Čl.VI
Act No. 593/1992 Coll., on reserves for the findings of the corporate tax base,
as amended by Act No 157/1993 Coll., Act No. 323/1993 Coll., Act No.
244/1994 Coll., Act No. 132/1995 Coll., Act No. 209/1997 Coll., Act No.
333/1998 Coll., Act No. 363/1999 Coll. and Act No. 492/2000 Coll., is amended
as follows:
section 5 is added:
"§ 5
Bank reserves and provisions
(1) as expenditure (cost to achieve secure and maintain příjmů1))
may banky4) create in the tax year
and) adjustments to receivables from loans, nepromlčeným
(b)) the provision for bank guarantees provided for loans provided by the banks.
(2) the total amount of creation for the tax period
and) adjustments referred to in paragraph 1 (b). and) shall not exceed 2
% from the base, which is the average state of the balance sheet values nepromlčených
Receivables from loans without accessories nesníženém appeal in valuations
provisions already created and less the part of the average State
the balance sheet value of receivables from credit nepromlčených that is secured
adopted by bank guarantees,
b) reserves referred to in paragraph 1 (b). (b)) shall not exceed 2%
the average State Bank guarantees provided for loans granted
banks.
Adjustments must always be assigned to individual claims,
reserves to individual guarantees. Average is calculated from the monthly
balances as of the last day of the month and the balance at 1. January
of the reporting period.
(3) the Claim of credit for the purposes of paragraph 1 (b). and) means the
claim arising from the loan provided to non-bank entity under section
497-507 of the commercial code and the claim resulting from the discharge of the Bank
the warranty.
(4) if the Bank proves that on the basis of business dokumentace5)
justification higher účetnictví6) creation of provisions and reserves, than
referred to in paragraph 2, the tax administrator may, at the request of the Bank
creation of provisions and reserves recognised in the following proven.
Decision on the application shall issue a tax under a special legal
prescription. ^ 16)
(5) a provision referred to in paragraph 1 (b). and) shall be lifted if no longer exist
the reasons for its existence, or if the claim to which it has been created,
was time barred. A corrective entry, the Bank will use to cover losses from depreciation
or the assignment of a receivable. Reserve referred to in paragraph 1 (b). (b)) is used to
cover losses related to the execution of bank guarantees provided for
loans.
16) Act No. 337/1992 Coll., on administration of taxes and fees, as amended by
amended. ".
Article. (VII)
Transitional provision
For the tax liability for the tax period until 31 December 2006. 12.2001
the existing legislation. The provisions of this Act shall be for the creation of
adjustments and provisions shall apply for the first time for the tax period
starting on 1 July. before 1 January 2002. Reserves to the effective date of this
the Act referred to in § 5 para. 1 (b). a) of Act No. 593/1992 Coll., on reserves
to determine the tax base from income, banks used to cover losses from
depreciation and the assignment of receivables from loans created community
goodwill to the effective date of this Act and reserves in accordance with section 5 of the
paragraph. 1 (b). (c)) to cover losses from guarantees provided that
do not match the definitions referred to in paragraph 1. (b)) of this Act.
Unused provisions, with the exception of provisions corresponding to the definition by
paragraph 1 (b). (b)) of this Act, the Bank will cancel in favor of revenue
to keep their balance for each tax period starting in 2002
reduce by at least 25% of the balance at 31. 12.2001, reaching their
the cancellation no later than 31 December 2007. 12.2005.
PART FOUR
Amendment of the Act on the Czech consolidation agency
Article. (VIII)
Act No. 241/2001 Coll., on the Czech Consolidation Agency and amending
to certain acts (the Act on the Czech Consolidation Agency), as amended by law
No 15/2002 is amended as follows:
In § 19 para. 6 including the footnotes # 16) and 17):
"(6) the Agency provides the information database of the Czech National Bank
by a special Act ^ 16) data about their clients (debtors) and
clients (debtors) people that controls on the basis of interest in them, and
whose principal activity is the management, sale and recovery
claims, to the extent provided by the law on banks. ^ 17) interested
controlled entity are required to communicate the relevant data to the Agency so as to
could be the obligation referred to in the first sentence. The Agency shall have access to
the information in this database, under the conditions laid down by Decree of the Czech
the National Bank. Information obtained from the database of the Agency is required to
keep confidential and protect against misuse.
16) § 41 para. 2 of law No 6/1993 Coll. on Česká národní banka, as amended by
amended. § 38a para. 2 of law No 21/1992 Coll., on banks, in
as amended.
17) § 38a para. 1 and 2 of Act No. 21/1992 Coll., on banks, as amended by
amended. ".
PART FIVE
cancelled
Article. (IX)
cancelled
PART SIX
cancelled
Article. X
cancelled
PART SEVEN
The EFFECTIVENESS of the
Article. XI
This Act shall take effect on 1 January 2000. in May 2002, with the exception of the provisions
§ 2 (2). 3, section 4, paragraph 4. 2 the second sentence of § 5a to 5 m, § 11 (1) 2 sentences
Second, section 11 (1) 5, section 16a para. 2, section 25a paragraph 1. 4 the last sentence, § 25a
paragraph. paragraph 5, section 26e. 2, section 38 c to 38 h and 41 m Act No. 21/1992 Coll., on the
banks, as amended by this Act, shall take effect on the date of entry
the Treaty of accession of the Czech Republic to the European Union enters into force.
Klaus r.
Havel, v. r.
in the financial times in the r..