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.
