The Amendment To The Act. About Insurance And Financing Export With State Support

Original Language Title: Novela zák. o pojišťování a financování vývozu se státní podporou

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Read the untranslated law here: https://portal.gov.cz/app/zakony/download?idBiblio=47964&nr=188~2F1999~20Sb.&ft=txt

188/1999 Coll.



LAW



of 28 June. July 1999,



amending the Act No. 58/1995 Coll., on insuring and financing exports

with State support and supplement of Act No. 166/1993 Coll., on the highest

Audit Office, as amended by later regulations, as amended by Act No.

60/1998 Coll.



Parliament has passed the following Act of the United States:



Article. (I)



Act No. 58/1995 Coll., on insuring and financing export with State

support and supplement of Act No. 166/1993 Coll. on the Supreme Audit

the Office, in the wording of later regulations, as amended by law No 60/1998 Coll.,

be amended as follows:



1. § 1, including title and footnote No. 1):



"§ 1



The subject of the edit



This law regulates State aid



and export credit risks) insurance, which means



1. short-term export credit insurance against non-payment resulting

from political or combined political and market

unsecured commercial risks,



2. the insurance long term export credits against non-payment resulting

from political or combined political and market

unsecured commercial risks, whether or not as a result of market

unsecured commercial risks,



3. the insurance investment of Czech legal entities abroad against the risk of

avoiding the transfer of proceeds of investments, expropriation or politically

motivated violent damage,



4. the insurance exporters against losses associated with the preparation and implementation of

commercial activities,



5. credit insurance provided by the manufacturer or exporter for financing

production intended for export against the risk of default of the loan as a result of

the inability of the manufacturer or exporter to meet the conditions of the Treaty of



6. insurance of bank guarantees or other services provided by the Bank

the foreign exporter to a person in the exporter against the risk of non-compliance with contractual

the obligations of the contract of exportation, the exporter,



7. the insurance risk exchange rate losses of the Czech koruna against the foreign currencies arising from

in the case of claims due to the difference in exchange rate applied when

conclusion of the insurance contract and the rate applicable in the payment of insurance premiums

performance, or



8. ^ 1) reinsurance business to foreign credit insurance companies in

relation to the insurance coverage provided under points 1 to 3 in the context of the

the participation of exporters to supply goods or services to the importer

carried out by a foreign person, to the extent of the share of the exporter on the

These deliveries,



(b)) in the form of export financing



1. export credit financing and the provision of financial services

export related, including the financing of local costs necessary

for exportation in the country of residence or the residence of the importer,

conditions of beneficiary compared to the market conditions, especially in terms of

the liabilities of the debtor or the exporter or producer and the obligations of the

point of interest rates (hereinafter referred to as "preferential funding"), or



2. subsidise part of the interest-rate differences resulting from lower exporters

interest income provided export credit to

maturity of over two years compared with the interest costs of exporters

related to the financing of these loans (hereinafter referred to as the "payment of interest

differences ").



1) § 6 and § 7 (2). 2 of law No 185/1991 Coll., on insurance. ".



Former footnote No. 1) and no. 1a) are known as notes

footnote No. 1a) and 1b), and including references to footnotes.



2. in paragraph 2 of the letter u) is added:



"u) lock commitment summary of values insured export

credit risks from insurance contracts in the nominal amount including interest and

of the fees and of the reinsurance business, decreased by the value of the risk,

that has already disappeared, and the values of the contracts for the promise of insurance in the amount of 50% of the

their nominal values ".



3. § 2, letter v) following the letter w) that read as follows:



"w) foreign credit insurer foreign legal person

providing persons exporting from the country of its location similar kinds of

insurance as the export guarantee and insurance company, a. s., (hereinafter referred to

"the export insurance company"), ".



4. In section 2, at the end of the letter z) dot replaced with a comma and the following

Letter aa) is added:



"aa) local costs, expenditure on goods and services that need to be

spend in accordance with the Treaty or agreement between the importer and

a foreign person for either the export performance, or for completing the

project or work in the country of residence or the residence of the importer, the

where the exporter involved in relation to the contract and which

will not be financed under more favourable conditions than such conditions under

which will be financed by the export credit, while not

exceed the amount of cash payment paid by the importer to the exporter in accordance with the

export agreement. ".



5. In section 3, paragraph 1 shall be deleted.



Paragraphs 2 and 3 shall become paragraphs 1 and 2.



6. In section 3, paragraph 3. 2 the first sentence, the words "export guarantee and insurance

the company, a. s., (hereinafter referred to as the "export insurance company") ' shall be replaced by

the "export".



7. In footnote No 5a) is at the end the following text:

"Measures of Česká národní banka no 193/1998 Coll., laying down the principles

the classification of receivables from loans and provisioning to these

claims. ".



8. In section 6 (1). 1 at the end of the fifth sentence, the following words shall be added including

footnote No. 9a): "with the exception of the provisions on the composition of the

statutory authority ^ 9a)



§ 8 paragraph 9A). 2 and 3 of Act No. 21/1992 Coll., as amended by Act No. 16/1998

Coll. and Act No. 166/1998 Coll. ".



9. In section 8 paragraph 1. 5 the second sentence, the words "the following criteria" are replaced by

words "at least one of the following criteria".



Article II



The effectiveness of the



This Act shall take effect on the date of publication.



Klaus r.



Havel, v. r.



Zeman in r.