Amendment Of The Act On Payment Systems And To Amend Certain Other Acts

Original Language Title: změna zákona o platebním styku a změna některých dalších zákonů

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now

Read the untranslated law here: https://portal.gov.cz/app/zakony/download?idBiblio=74310&nr=139~2F2011~20Sb.&ft=txt

139/2011 Sb.



LAW



of 27 June. April 2011,



amending the law no 284/2009 Coll., on payments, as

Act No. 156/2010 Coll., and some other laws



Change: 89/2009 Sb.



Parliament has passed the following Act of the United States:



PART THE FIRST



Amendment of the Act on payment systems



Article. (I)



Law no 284/2009 Coll. on payment systems, as amended by Act No 156/2010

Coll., is amended as follows:



1. in article 1, the words ' European Communities ' ^ 1 ') "shall be replaced by

"The European Union" ^ 1 ")".



Footnote 1:



"1) European Parliament and Council Directive 98/26/EC of 19 June 2000. may

1998 on settlement finality in payment systems and in systems

settlement of trades in securities, as amended by the directive of the European

Parliament and Council directive 2009/44/EC.



European Parliament and Council Directive 2007/64/EC of 13 April 2004. November

2007 on payment services in the internal market amending Directive

97/7/EC, 2002/65/EC, 2005/60/EC and 2006/48/EC and repealing Directive

97/5/EC, as amended by European Parliament and Council directive 2009/111/EC.



European Parliament and Council directive 2009/44/EC of 6 May 1999. in May 2009,

amending Directive 98/26/EC on settlement finality in

payment and settlement systems, securities

and Directive 2002/47/EC on financial collateral arrangements as regards

linked systems and credit claims.



European Parliament and Council directive 2009/110/EC of 16 December 2002. September 2009

about the business of electronic money institutions, pursuit and

the prudential supervision of this activity, amending directives 2005/60/EC

and 2006/48/EC and repealing Directive 2000/46/EC ".



2. In section 1 and section 133 paragraph 2. 1, the words ' European Community ' shall be replaced by

the words "European Union".



3. In paragraph 1 (b). (d)), after the words "issuers of electronic money"

the words "(hereinafter referred to as" the Publisher ")" and the text at the end of subparagraph (d))

the words "(hereinafter referred to as ' the holder ')".



4. In article 2 (2). 1 at the end of subparagraph (a)), the words "unless the

not a payment service (section 3, paragraph 3), ".



5. In article 2 (2). 1 (b). e), the words "which is carried out by non-cash

transfer of funds from a payment account or on the account of payment "

replaced by the words "If the funds are received from a user

or made available to the user via bank ".



6. In paragraph 2, at the end of paragraph 1, the period is replaced by a comma and the following

subparagraph (f)), which read as follows:



"(f)) direct debit transfer of funds from a payment account,

which gives the payment order on the basis of the consent of the recipient, that the payer

granted to the recipient, the recipient or the provider provider. ".



7. In article 2 (2). 2 (a). (c)) and in section 2 (2). 3 (b). (c)), the words

"electronic money" shall be deleted.



8. In article 2 (2). 2 letter d) is added:



"(d)) the host Member State, the Member State that is not a home

the Member State of the provider or Publisher, and in which the

provider or publisher of a branch sales representative or in which

temporarily otherwise provides services ".



9. in section 2 (2). 2 (a). h) item 1:



"1. in the case of a legal person, its statutory authority, a member of its

statutory authority, its Director, proxy or any other person who

Another way to effectively direct its activities, in the case of a payment institution

(section 7) and the payment service provider of a minor nature (section 36)

the person that actually controls their activities in the field of the provision of

payment services, and in the case of an electronic money institution (section 46), and

small e-money issuer (section 53), also a person who

effectively direct their activities in the area of issuing of electronic money

or the provision of payment services; If the statutory body or its

a member of a legal person, the head of the person, a natural person who

on behalf of the legal person, function of the statutory body or its Member

exercises, ".



10. In section 2 (2). 2 (a). (h)) at the end of the text of paragraph 2, the words "and in the

If the payment service provider of a minor nature (section 36)

the person that actually controls its activity in the field of the provision of

payment services ".



11. In paragraph 2 (2). 2 the letter j) is added:



"(j)) the commercial agent the person who, under a contract with the provider

This is when the contract on payment services or the provision of

on behalf of the provider of the payment service, or whoever, on the basis

the contract with the Publisher to distribute it or reverse exchange

electronic money in the name of the Publisher; a sales representative is not

employee or representative of the provider or Publisher. "



12. in section 3, paragraph 3. 1 c) and (d)):



"(c)) the transfer of funds from a payment account, on which the

gives the payment order



1. the payer,



2. the recipient, or



3. the payer via the payee, if the supplier does not provide

funds to be transferred to the user as a loan,



(d)) perform the transfer of funds from a payment account, on which the

gives the payment order



1. the payer,



2. the recipient, or



3. the payer through the recipient if the supplier provides

funds to be transferred to the user as a loan ".



13. in section 3, paragraph 3. 1 (b). e), the words ", except where the payment

transaction in accordance with subparagraph (g)) "shall be deleted.



14. in section 3, paragraph 3. 1 (b). (f)), after the words "service provider of the payer shall

the words "(money remittance)" and the word "or" shall be deleted.



15. in section 4, paragraph 4. 1 (b). and for) the words "by the Publisher of the electronic

money "shall be replaced by" to the person who issued it. "



16. in section 4, paragraph 4. 1 (b). (c)), the words "with a value of not less than the value of the

issued by the electronic money "shall be replaced by the words" for the purpose of the implementation of the

payment transactions ".



17. in section 4, paragraph 4. 1 (b). (d)), the words "as a means of payment" shall be deleted;

and the words "electronic money issuer" shall be replaced by the words "by the person

it delivered ".



18. in section 4 paragraph 2 reads as follows:



"(2) the electronic money is not a monetary value that cannot be

used to make other payment transactions other than payment transactions

referred to in § 3 (1). 3 (b). (c)), paragraph 4 or in section 3 (2). 3 (b). (d))

7. ".



19. the heading of part two shall read: "the PERSON the PAYMENT SERVICE OPRÁVNĚNÉPOSKYTOVAT

AND TO ISSUE ELECTRONIC MONEY ".



20. in paragraph 5 of the introductory part of the provision, the word "services" the words

"as a business".



21. in paragraph 6 of the introductory part of the provisions for the word "money" the words

"as a business".



22. in section 8 paragraph 3 reads:



"(3) the provision of the loan is an activity referred to in paragraph 1 (b). (b)), if



and by providing a payment) is related to the services listed in section 3 (2). 1 (b).

d), (e)), or (g)) and this service is listed in the payment authorization

payment institutions



(b) the loan is not granted from) of the funds, which have been paying

the institution entrusted with the execution of a payment transaction,



c) capital of the payment institution is a reasonable total amount supplied by the

loans and



d) loan is a contract concluded between credit institutions and

the borrower repaid no later than one year; This does not apply in the case that

the loan is provided in the Czech Republic. ".



23. in § 9 para. 1 (b). I) after the word "participation" is inserted after the word "only", and

the words "in terms of the needs" are deleted.



24. in § 9 para. 1 at the end of the letter l) is replaced by a period and a comma

the letter m) is repealed.



25. in § 9 para. 2 the first sentence, the words "was approved by the Parliament,

ratified and promulgated, and which the Czech Republic is bound "are replaced by

the words "is part of the legal order", the words "persons" shall be replaced by

the words "enable" and at the end of the text of the first sentence, the words

"and if the legislation of the State in which the applicant has its registered office, shall not prevent the effective

the protection of funds that have been entrusted to the credit institution

execution of a payment transaction ".



26. in § 9 para. 2 the second sentence, the words "such persons" shall be replaced by

"payment institution based in the State, which is not the Member State".



27. in section 10, paragraph 1. 1, the second sentence shall be deleted.



28. in section 10, paragraph 3 shall be deleted.



29. in paragraph 11, the word "each" is deleted.



30. in paragraph 11 of the present text shall become paragraph 1 and the following

paragraph 2, which reads as follows:



"(2) the notification referred to in paragraph 1 may be made only on the prescribed

form, to which the notifier shall be accompanied by documents certifying the change

the data referred to in the application for authorisation to the activity or its annexes,

on the basis of authorizations granted. Forms and

the content of the annexes thereto lays down implementing legislation. ".



31. In the title above, paragraph 12, the word "Withdrawal" shall be replaced by

"The disappearance and withdrawal".



32. In paragraph 12, insert a new paragraph 1, which reads as follows:



"(1) the authorised payment institutions shall lapse on the date of



and the cancellation of a payment institution)



(b)) the acquisition of the decision of the bankruptcy of the payment institution or

the acquisition of the legal force of the decision rejecting the insolvency petition for

lack of assets, payment institutions



(c)) the acquisition of the decision, which awarded the Czech National Bank

enabling the business of electronic money institutions (§ 46), or on the date on

that is the decision, listed as the date of the authorization, or




(d) payment institutions to write) register of providers of payment

small scale services (§ 36). ".



Paragraphs 1 to 3 shall become paragraphs 2 to 4.



33. In § 12 para. 3 (b). and when) the words "the provision of payment services

or the "and the words" or the conditions laid down in the permit "shall be deleted.



34. In § 12 para. 3 at the beginning of subparagraph (b)), the words "payment

institutions ".



35. In section 12 paragraph 4 is added:



"(4) the Czech National Bank shall inform the public in a manner allowing

remote access to the effect that there was a dissolution or withdrawal of the authorisation to

the activities of the payment institution. ".



36. In paragraph 13 of the first sentence, after the words "the date of dissolution of" the words "or", and

After the word "the" with the words "whose authorization has been terminated or".



37. In paragraph 13 of the second sentence, the word "reliably" be deleted and the word "day"

the words "or demise."



38. In section 13 of the last sentence, after the words "the", the words "whose

authorised payment institution or disappear ".



39. In paragraph 13 of the present text shall become paragraph 1 and the following

paragraph 2, which reads as follows:



"(2) paragraph 1 shall not apply to activities which is the one whose authorisation

the activities of the payment institution has been terminated or who has been withdrawn, shall be entitled to

continue to exercise on the basis of another permission. ".



40. in paragraph 14, the word "apply" shall be replaced by the words "shall apply".



41. In article 15, paragraph 2. 2 (a). and the words "or) the conditions laid down in

permit ' shall be deleted.



42. In article 15, paragraph 2. 2 (a). (c)), the words "payment institutions" shall be replaced by

the word "applicant".



43. In article 15, paragraph 2. 3 the words "shall apply" shall be replaced by the words "shall apply", and

the number "3" shall be replaced by the number "4".



44. In article 19, paragraph 2 shall be deleted and shall be deleted at the same time, paragraph

1.



45. In section 20 (2). 1 (b). (b)), the words "the end" are replaced by the words "after the

the expiry of the ", the words" embedded or converted to a separate account "

replaced by the words "stored on a separate account," and the words "in this time"

shall be deleted.



46. In paragraph 22 of the paragraph. 3 of the introductory part of the provisions of the number ' 6 ' is replaced by

the number "7".



47. In section 22, the following paragraph 7 is added:



"(7) if the insolvency petition was rejected for lack of assets

or if the bankruptcy was canceled because of the debtor's assets is for

satisfaction of the creditors is totally inadequate, the liquidator shall proceed mutatis mutandis

in accordance with paragraphs 4 and 5. ".



48. In paragraph 2 of article 23. 3, the word "applicant" shall be replaced by "notifier".



49. In the first sentence of § 24, § 44 para. 1 and in section 45, the word "valid" is replaced by

the words "shall apply".



50. in section 26 para. 2, after the word "significant" is inserted after the word "operational".



51. In section 26 para. 3, after the word "Significant" is inserted after the word "operational".



52. In section 26 para. 4, the word "applicant" shall be replaced by "notifier".



53. In paragraph 28, the end of the text of paragraph 2, the words "or who has been

withdrawn ".



54. In section 29 para. 1, the words "to provide payment services or" shall be deleted.



55. In section 29 para. 2, the word "applicant" shall be replaced by "notifier".



56. In § 31 para. 1, the words "to provide payment services listed in the

authorised payment institutions "shall be replaced by the words" exercise

activities referred to in section 8, to which it is entitled to on the basis of performance

enable the "and the words", and to pursue the activities referred to in § 8 para. 1 (b).

(b)), and (c)) "shall be deleted.



57. In part two, title II, part 5, including the title.



58. In § 36 odst. 1 the second sentence, the words "§ 8 shall apply" shall be replaced by

"The provisions of section 8 shall apply".



59. In § 36 odst. 2, the words "European economic area"

replaced by the words "in the Czech Republic".



60. In § 37 para. 1 (b). and at the end of the text) (a)) the following words

", and a branch in the Czech Republic".



61. In article 37, paragraph 3 shall be deleted.



Paragraph 4 becomes paragraph 3.



62. In paragraph 39, the word "each" is deleted.



63. In paragraph 39, the current text shall become paragraph 1 and the following

paragraph 2, which reads as follows:



"(2) the notification referred to in paragraph 1 may be made only on the prescribed

form, to which the notifier shall be accompanied by documents certifying the change

the data referred to in the application for registration in the register of providers of payment

the services of a minor nature or its annexes on the basis of was to

This register is written. Patterns of the forms and content of the annexes thereto lay down

implementing legislation. ".



64. In the introductory part of section 40 of the provisions, the word "If" is replaced by

the word "day".



65. In section 40 para. 1 (b). and), the word "provider" shall be replaced by

"death of the provider", the word "die" is deleted, and the words "lapses, or"

are replaced by the words "its cancellation,".



66. In section 40 para. 1 (b). (b)), the words "it was issued" shall be replaced by

"legal force" and the words "If the insolvency petition rejected

because its assets are not sufficient to cover the costs of the insolvency

control "shall be replaced by the words" acquisition of the decision rejecting the

insolvency petition for lack of assets, payment provider

small scale services ".



67. In paragraph 40, the dot at the end of paragraph 1 is replaced by a comma and the following

subparagraph (c)), and (d)), which read as follows:



"(c)) the acquisition of the decision, which awarded the Czech National Bank

the payment service provider of a minor nature of authorizations

payment institution or authorised institution of electronic

money (§ 46), or on the date on which the decision is given as the date of

the authorization, or



(d) the payment service provider enrollment) small scale to the registry

issuers of electronic money is small (§ 53).



68. In section 40 para. 4, the word "that" is replaced by "30 days from the

the date "and after the word" institutions "shall be inserted the words" or a request for

enabling the business of electronic money institutions ".



69. In paragraph 41 of the second sentence, the word "reliable" is deleted.



70. In paragraph 41, the existing text shall become paragraph 1 and the following

paragraph 2, which reads as follows:



"(2) paragraph 1 shall not apply to activities which is the one whose

registration payment service providers small lapse or

has been cancelled shall be entitled to continue to exercise on the basis of another permission. ".



71. In paragraph 42, the words "shall apply" shall be replaced by the words "shall apply", the word

"the provisions" shall be deleted and the words "(a). (b)), "with the words" and

paragraph. 3. "



72. In § 43 para. 2 (a). (b)), the words "payment service provider

small scale "shall be replaced by" applicant ".



73. In § 43 para. 3 the words "shall apply" shall be replaced by the words "shall apply".



74. In article 44, paragraph 2 reads as follows:



"(2) the payment service provider shall not small scale users

provide interest or other benefits depend on the length of time after which the

the funds are entrusted to carry out payment transactions. ".



75. In Title IV of part two, including the title reads as follows:



' TITLE IV



ELECTRONIC MONEY INSTITUTIONS



Part 1



Basic provisions



§ 46



(1) an electronic money institution is a legal entity that is

authorised to issue electronic money on the basis of authorizations

electronic money institutions, which granted her the Czech National Bank.



(2) on the basis of the existing authorisation for the operation of the institution of electronic

money is an electronic money institution shall be entitled to



and) to issue electronic money,



(b)) to provide payment services relating to electronic money,



(c)) to provide payment services that are not related to electronic money,

referred to in the authorization of the business of electronic money institutions,



(d)) to carry out activities related to the activities referred to in (a))

(c)), including the provision of loans, and



e) operate a payment system with the exception of the payment system with

finality of settlement.



(3) the granting of a loan is the activities referred to in paragraph 2. (d)), if



and by providing a payment) is related to the services listed in section 3 (2). 1 (b).

d), (e)), or (g)) and this service is listed in the payment authorization

electronic money institutions,



(b) the loan is not granted from) in cash, against the adoption

have been issued by the electronic money institution concerned or which have been

electronic money entrusted to the execution of a payment transaction,



c) electronic money institutions ' capital is a reasonable total amount

loans and



d) loan is a contract concluded between the institution of electronic

money and paid by the debtor within one year; This does not apply in

If the loan has been granted in the Czech Republic.



Part 2



Enabling the business of electronic money institutions



§ 47



(1) the Czech National Bank has granted permission to the activities of the institutions

of electronic money to the applicant,



and) which is a legal person,



(b)) which has its registered office and head office in Czech Republic



(c)) that has an initial capital of at least the amount prescribed by this Act

(§ 52a paragraph 1),



(d)) whose business plan including a forecast budget on the first 3

the accounting period is aided by the real economic calculations,



e) whose substantive, technical, personnel and organizational preconditions are

appropriate in terms of sound and prudent issuance of electronic money and

the provision of payment services,



f) management and control system which meets the requirements laid down in this

the law (§ 52c)




g) which provides the protection of funds against which

the adoption of electronic money have been issued or entrusted to it by the users

to the execution of a payment transaction,



h) whose inherent in any business activities other than on the issue of

electronic money and in the provision of payment services shall not constitute a

a substantial threat to the financial stability of electronic money institutions

nor can it prevent the effective exercise of supervision over the activities of the institutions

electronic money,



I) which have a qualifying holding by persons who are

trusted and competent to ensure the sound and prudent management of the institution

electronic money,



j) whose close links with another person do not prevent the effective exercise of supervision

over the activities of electronic money institutions; While close links with

a person shall be governed by the laws of the State which is not a Member State,

not this law nor the manner of its application to hamper effective

exercising supervision over the activities of electronic money institutions,



to senior management) whose trust in terms of sound and

the prudent issuance of electronic money and the provision of payment

services,



l) whose head of the persons who effectively conduct the business in the field of extradition

electronic money and the provision of payment services are professionally

eligible and have sufficient experience in terms of sound and prudent

the issuance of electronic money and the provision of payment services.



(2) paragraph 1 (b). (b)) shall not apply if the international treaty,

that is part of the rule of law, the obligation to allow the applicant to

located in a State which is not a Member State, the issue in the Czech Republic

electronic money under similar conditions as to persons located in the United

Republic and the legal order of the State in which the applicant has its registered office, shall not prevent the

effective protection of funds against adoption were released

electronic money or which have been entrusted to the applicant to perform the

the payment transaction. For the electronic money institution based in the

State which is not a Member State, § 52 and 52n shall not apply.



(3) a request for authorisation to the activities of an electronic money institution may be

made only on the prescribed form, to which the applicant must be accompanied by a

documents certifying that the conditions referred to in paragraph 1. Patterns

the forms and content of the annexes thereto lay down the detailed legislation.



§ 48



(1) the decision on the application for a permit for the operation of the institution of electronic

the Czech National Bank issues money within 3 months from the date of initiation of the proceeding.



(2) in the decision to grant an authorisation for the operation of the institution of electronic

money Czech National Bank which payment services that are

not related to electronic money, electronic money institutions

may provide.



(3) electronic money institutions shall, without undue delay, the United

the National Bank change of information contained in applications for authorisations

or its annexes, on the basis of authorizations

granted.



(4) the notice referred to in paragraph 3 may be made only on the prescribed form,

to which the notifier shall be accompanied by documents certifying the change of information

referred to in the application for authorisation to the activity or its annexes,

the basis of authorizations granted. Forms and

the content of the annexes thereto lay down the detailed legislation.



Death and the withdrawal of authorisations for the activities of electronic money institutions



§ 49



(1) the activities of an electronic money institution shall lapse on the date of



and) cancellation of electronic money institutions,



(b)) the acquisition of the decision about the decline of the institution of electronic

money or the acquisition of the legal force of the decision rejecting the insolvency

petition for lack of assets of electronic money institutions,



(c)) the acquisition of the decision, which awarded the Czech National Bank

electronic money institution authorised payment institution

or on the date that is listed in the decision, as the date of the authorization, or



(d) electronic money institutions) notation in the register of providers of

small-scale or payment service to the registry of issuers

small-scale electronic money (§ 53).



(2) the authorization shall be withdrawn by the Czech National Bank to the operation of the institution

electronic money, if the electronic money institutions

so requests.



(3) the Czech National Bank may withdraw the authorisation for the operation of the institution

electronic money, if



and) an electronic money institution has repeatedly or seriously

infringed the obligation laid down in this law or another legal

Regulation governing the procedure for the exercise of activities in accordance with § 46 para. 2,



(b) electronic money institutions) does not meet the conditions for the grant of

enabling the business of electronic money institutions,



c) an electronic money institution has not begun within 12 months from the date of grant

the authorisation to issue electronic money or provide payment services

related to electronic money,



(d) electronic money institutions) made electronic money or

did not provide payment services related to electronic money for

longer than 6 months, or



(e)) the authorisation was granted on the basis of false or incomplete information

or as a result of another illegal procedure e

money.



(4) the Czech National Bank shall inform the public in a manner allowing

remote access to the effect that there was a dissolution or withdrawal of the authorisation to

the activities of electronic money institutions.



§ 50



(1) from the date of dissolution or withdrawal of the authorisation for the operation of the institution

electronic money must not be one whose authorization has been terminated or who has been

withdrawn, to carry out activities pursuant to § 46 para. 2. Financial resources

entrusted to the execution of a payment transaction, must be issued

users. Money, whose adoption were released

electronic money, must be issued to the holders. If you cannot determine

What part of funds passed by the holder or by the user

electronic money institution is intended for payment transactions, you must

be in possession of or returned to the user such a portion of the funds, about

within 1 year from the date of termination of or withdrawal of authorisations

an electronic money institution shall request. The settlement of liabilities to

holders and users with the permission to the activities of the institutions

electronic money has been terminated or who has been authorized to practice

an electronic money institution is withdrawn, still considered the institution of

electronic money.



(2) paragraph 1 shall not apply to activities which is the one whose authorisation

the activities of an electronic money institution has been terminated or who has been

withdrawn, shall be entitled to continue to exercise on the basis of different permissions.



Change in the scope of the authorisation to the activities of electronic money institutions



§ 51



Where an electronic money institution a request for the extension of the scope

payment services, which do not apply to electronic money and that has

listed on your permit activity shall apply mutatis mutandis to § 47 para. 1

(a). d) to (j)), and l), § 47 para. 3 and § 48.



§ 52



(1) the Czech National Bank will narrow the range of payment services, which are

they do not apply to electronic money and electronic money institutions

listed on your permit to the activities of the institution

electronic money is requested.



(2) the Czech National Bank could narrow the range of payment services, which are

they do not apply to electronic money and electronic money institutions

listed on your permit activity, if



and) an electronic money institution has repeatedly or seriously

infringed the obligation laid down in this law or another legal

Regulation governing the procedure for the exercise of activities in accordance with § 46 para. 2,



(b) electronic money institutions) does not meet the conditions for the grant of

permission to provide some payment services, or



(c)) the authorisation was granted on the basis of false or incomplete information

or as a result of another illegal procedure the applicant.



(3) For reducing the range of payment services which are not related to

electronic money and electronic money institutions listed

in its authorization, shall apply by analogy to § 49 paragraph 1. 4 and § 50.



Part 3



Some of the conditions the exercise of the activities of electronic money institutions



§ 52a



Capital



(1) the initial capital of an electronic money institution shall be at least

the amount corresponding to 350 000 euros.



(2) an electronic money institution continuously maintains a capital

adequacy. Capital of an electronic money institution shall not at the same time

fall below the minimum amount of initial capital prescribed in paragraph

1.



(3) the request for authorisation to the activities of electronic money institutions

the applicant shall indicate the approach that will be an electronic money institution

apply when calculating the capital requirement for covering the risks associated

with the provision of payment services, which do not relate to electronic

money. The Czech National Bank in the decision to permit operation of the institution

This approach of electronic money shall be approved if it is suitable of

in terms of the proper provision of payment services which are not related to

electronic money, or due to the circumstances of the applicant; otherwise provides

other appropriate access. Set by the Czech National Bank can access later


change when circumstances change or the conditions under which access was

established.



(4) the Czech National Bank may, on the basis of the evaluation of the management and

control system of electronic money institutions may decide that

an electronic money institution is required to continuously maintain a capital

the adequacy of up to 20% higher, or up to 20% lower than the

provided for in paragraph 2, first sentence.



(5) Implementing law provides rules for the calculation of the amount of capital

electronic money institutions, and the rules for the calculation of capital

adequacy, including individual approaches that of the institution

electronic money may apply when calculating the capital requirement

to cover the risks associated with the provision of payment services, which are

not related to electronic money.



§ 52b



The acquisition, disposal, increase and decrease of qualifying holding on

electronic money institution and its mastery of the



(1) the person or persons acting in concert shall notify in advance the Czech national

the Bank of its intention to



and) acquire a qualifying holding on the electronic money institution,



(b) cease to be a qualified participation) of the electronic money institution,



(c) increase a qualifying holding on) electronic money institution,

that reach or exceed 20%, 30% or 50%,



(d)) to reduce the qualified participation in the electronic money institution,

It drops below 50%, 30% or 20%,



e) become the person controlling the electronic money institution, or



f) stop to control the electronic money institution.



(2) If a person or persons acting in concert, they have made

the notification under paragraph 1 (b). and), c), or (e)) are not trusted or

eligible in terms of the need to ensure sound and prudent management

electronic money institutions, expresses disapproval of the Czech National Bank

the acquisition or increase of qualifying holding or controlling institution

electronic money. This applies mutatis mutandis in the event that the notification was not

contrary to paragraph 1 (b). and), c), or (e)) done. The procedure for

voicing disagreement may be initiated within 60 working days from the date on which the

The Czech National Bank a notification pursuant to paragraph 1. and), c), or (e))

occurred or where the Czech National Bank became aware that the notification was not in

contrary to paragraph 1 (b). and), c), or (e)) done. If the Court finds the Czech

the National Bank before the expiry of the time limit for instituting proceedings for the vote

disagreement, that the person or persons acting in concert, they have made

the notification under paragraph 1 (b). and), c), or (e)) are trusted or

eligible in terms of the need to ensure sound and prudent management

electronic money institutions shall communicate this fact to them.



(3) if the Czech National Bank said disagreement referred to in paragraph 2,

a person that has made a notification under paragraph 1 (b). and), c), or (e))

or that notification, in breach of paragraph 1 (b). and), c), or (e))

failed to do so, shall not exercise the voting rights attaching to holdings of

electronic money institution to the extent in which the participation is acquired or

increased.



(4) the notice referred to in paragraph 1 may be made only on the prescribed form.

In the case of a notification referred to in paragraph 1 (b). and), c), or (e)) the notifier to

the form shall be accompanied by documents certifying its properties in terms of

the need to ensure the sound and prudent management of the institution of electronic

money. Forms and contents of its annexes laying down detailed legal

prescription.



§ 52c



Management and control system



(1) an electronic money institution shall establish and maintain command and control

the system, which is suitable in terms of sound and prudent issuance

electronic money and the provision of payment services and in terms of

compliance with the obligations related to the fight against money laundering

crime and the financing of terrorism. Management and control system

must be comprehensive and proportionate to the nature, scale and complexity of the activities

an electronic money institution and must ensure the proper and smooth

the issuance of electronic money and the provision of payment services.



(2) the management and control system includes the



and organizational prerequisites and assumptions) the proper management and control of

the company, always



1. the principles and procedures



2. organisational arrangements with sound, transparent and comprehensive definition of

activities and related competencies and decision-making powers, within the

which is at the same time lays down the procedures to prevent the possible occurrence of conflicts of

interests and define functions whose performance is inconsistent, and



3. sound administrative and accounting procedures,



(b)) risk management system, which always includes the



1. the rules on access to electronic money institutions risks

an electronic money institution is or may be exposed, including risks

resulting from the external environment and liquidity risks,



2. the procedures of recognition, evaluation, measurement, monitoring and reporting

risks and



3. the procedures for the adoption of measures to limit the risks,



c) internal control, which is always



1. internal audit



2. follow-up to the compliance with the obligations of the institution of electronic

the money arising from this Act and other legislation.



(3) a part of the organizational assumptions referred to in paragraph 2 (a). and) are

always



and record keeping rules) of the funds, the

the adoption of electronic money have been released or that were the institution of

electronic money entrusted to the execution of a payment transaction,



(b)) the rules for the handling of complaints and claims of the holders and users and



(c)) the internal communication.



(4) the rules of internal control in accordance with paragraph 2 (a). (c)) also include



and) control and safety measures when handling and registration

information, and taking account of their nature and



(b) the activities of the control rules) sales representative whose

by means of an electronic money institution provides payment

the service.



(5) an electronic money institution is required to continuously authenticate and

periodically assess the adequacy and effectiveness of the management and control

the system.



(6) the method of fulfilling the requirements of the management and control system of the institution

electronic money institutions shall adopt detailed legislation.



Protection of funds



section 52d



(1) funds, against whose adoption had been issued electronic

money or which have been entrusted to the electronic money institution

execution of payment transactions are not deposit under the law governing

the activities of the bank.



(2) an electronic money institution shall issue electronic money shall immediately

After having accepted cash, against the adoption of which should be

electronic money issued.



section 52e



(1) funds, against whose adoption had been issued electronic

money or which have been entrusted to the electronic money institution

execution of a payment transaction must be



and) kept separate from the own funds of the institution

of electronic money and from the funds of other persons, with the exception of

other funds, against whose adoption were released

e-money or electronic money institution

entrusted with the execution of a payment transaction, and



(b)) after the expiry of the working day following the date on which the institution of the

electronic money received, stored on a separate account of the institution

electronic money at a Bank, savings and credit cooperatives,

foreign banks established in the Member State or foreign banks

based in a non-Member State which is subject to supervision comparable

with the supervision of the Czech National Bank, or must be invested in liquid

assets with a low risk, if it is an electronic money institution does not pass

the recipient or another provider.



(2) paragraph 1 shall not apply where an electronic money institution

has entered into an insurance contract, or were given the other comparable

the guarantee on the basis of the holders and users have the right to supply in

the amount of the corresponding law on the release of funds, the

the adoption of electronic money have been released or that were the institution of

electronic money entrusted to the execution of a payment transaction, in the case

that the electronic money institution is unable to satisfy this right

itself, in particular in the case of a decision on the bankruptcy of the institution

electronic money.



(3) take out the insurance policy referred to in paragraph 2 as the insurer may

only the insurance company or a foreign person with similar business

established in a Member State or in another Member State than the

which is subject to supervision comparable with the supervision of the Czech National Bank,

If these persons are not members of the same group as an institution

electronic money. Provide some other comparable guarantee according to the

paragraph 2, only the Bank, savings and loan cooperative, foreign

Bank or a foreign person with similar business based in

another Member State or are nationals of another Member State than that

subject to supervision comparable with the supervision of the Czech National Bank, if

These persons are not members of the same group as an institution of electronic

money.



(4) Implementing legislation sets out the assets in which the institution

electronic money to invest the funds referred to in paragraph 1

(a). (b)).




(5) for reasons of particular interest of the Czech National Bank

measures of a general nature to temporarily disable the electronic money institutions

to invest the funds referred to in paragraph 1 (b). (b)), against which the

have been issued electronic money, the rules laid down in the implementing

legislation referred to in paragraph 4, the kind of this measure

at the same time. In doing so, the Czech National Bank will take into account the safety,

maturity and the value of those assets.



(6) the measures of a general nature referred to in paragraph 5 may take effect before

performing the procedure on this measure according to the code of administrative procedure, and before the

discussing his proposal on the date of posting of a public decree

measures of a general nature. If there is a risk of default, it may

Time limits set by the Czech National Bank code of Administration for publication

the design of the measures of a general nature, for consultation and notification

to submit comments or objections to the measures of a general nature be shortened

for 3 days.



§ 52f



(1) if it cannot be determined what part of the cash passed to

the holder or user of the electronic money institution is intended for

a payment transaction is an electronic money institution shall be obliged to protect

under section 52e a portion of these funds, which corresponds to the

the estimate, based on data from previous periods.



(2) If an electronic money institution receives from the holder of the money

resources, against the adoption of electronic money have been issued,

the form of the adoption of the payment instrument, the funds have been

accepted at the time when the means of payment given to a payment order.

In this case, it protects the electronic money institutions these cash

resources by section 52e only after payment has been credited to its

account or made available to her, but at the latest after 5 working

days from the date of issuance of electronic money.



§ 52 g



(1) if the decision on the bankruptcy of electronic money institutions,

is a special insolvency administrator must give the funds against

the adoption of electronic money have been issued or which have been

electronic money institution entrusted with the execution of a payment transaction,

holders and users. If you cannot reliably determine what portion of

funds transmitted by the holder or by the institution of the

electronic money is intended for the payment transaction, is a special

the insolvency administrator must give the funds which have been

electronic money institution entrusted to it and can be used to perform

the payment transaction.



(2) the special insolvency practitioner shall publish within 15 days from the date of their

provisions at least in 2 nationally distributed newspapers in each

the State on whose territory the electronic money institution does business or

business challenge to holders of electronic money institutions, which

has released an electronic money institution and to users who

of electronic money have entrusted funds to make a payment

transactions of the funds themselves, including deadlines and

lessons about the consequences of their fruitless expiry.



(3) the special insolvency practitioner shall issue within 7 months from the date of publication of the

referred to in paragraph 2, the funds, against whose adoption were released

e-money or electronic money institution

attributed to the execution of a payment transaction, the holders and users who

of these funds to



and) 3 months from the date of publication referred to in paragraph 2 and prove their right to

they are released, or



(b)) 6 months from the date of publication referred to in paragraph 2, and whose right to

their release follows from the record of an electronic money institution.



(4) the special insolvency practitioner cashing in assets referred to in section 52e para. 1

(a). b). Indemnity or warranty under section 52e para. 2 and 3

paid the required person special insolvency practitioner.



(5) if the funds referred to in section 52e para. 1, mining

monetized asset referred to in paragraph 4 and indemnity or performance of

a guarantee under section 52e para. 2 and 3 are not sufficient to fully satisfy all

holders and users referred to in paragraph 3, will satisfy the rights of these

holders and users fairly.



(6) the extent to which the right to release the funds under

paragraph 1 has not been satisfied with the procedure laid down in paragraphs 2 to 5,

the appropriate claim considered on time and properly lodged within the meaning of

the law governing insolvency.



(7) if the insolvency petition was rejected for lack of assets or

If the bankruptcy was canceled because of the debtor's assets is for

satisfaction of the creditors is totally inadequate, the liquidator shall proceed mutatis mutandis

in accordance with paragraphs 4 and 5.



The issuance and distribution of electronic money and the provision of payment

services through the institution's electronic sales representative

money



§ 52 h



(1) an electronic money institution shall not issue electronic money

by means of the person in the issuance of electronic money is

on its behalf; It does not apply to an employee or representative of an institution

electronic money.



(2) an electronic money institution may provide payment services

through the if sales representative



and the management and control system) the commercial agent is suitable in terms of

compliance with the obligations related to the fight against money laundering

crime and the financing of terrorism and



(b)) a sales representative who is a natural person, and senior management

trade representative who is a legal person, they are trusted,

competent and have sufficient experience in terms of sound and

a prudent provision of payment services.



(3) an electronic money institution which intends to provide

payment services through a commercial agent shall notify the United

the National Bank.



(4) the notice referred to in paragraph 3 may be made only on the prescribed form,

to which the notifier shall be accompanied by documents certifying that the conditions

referred to in paragraph 2. Patterns of the forms and content of the annexes thereto lay down

the implementing legislation.



§ 52i



(1) when you distribute electronic money or the provision of payment

services through the business of electronic money institutions

the representative of the host Member State shall apply by analogy to § 52. Before

registration commercial agent to the list of electronic money institutions

the Czech National Bank shall request the opinion of the supervisory authority of the host

Member State and to this opinion into account.



(2) the distribution of electronic money or the provision of payment

the services of foreign electronic money institutions established in another

Member State through a commercial agent in the Czech Republic

the Czech National Bank shall notify the supervision authority of the home Member State

This electronic money institution at its request its opinion on

This fact.



(3) where the Czech National Bank has reason to suspect that, in connection with the

distribution of electronic money or to the provision of payment services

foreign electronic money institution with headquarters in another Member

State through a commercial agent in the Czech Republic may occur

to increase the danger of the legalization of proceeds of crime, or

terrorist financing, shall communicate this fact without undue delay

the home Member State supervisory authority of this institution of electronic

money.



The performance of some operational activities through another person



§ 52j



(1) an electronic money institution which intends to entrust the performance of the

some operational activities relating to the issuance of electronic

money or to provide payment services to another person, it shall notify the United

the National Bank.



(2) performance, relevant operational activities related to the issuance of

electronic money, or to the provision of payment services payment

institution to entrust to another person only if there is no substantial

deterioration in the functioning of the management and control system of the institution

electronic money, reduce considerably the possibilities of the Czech National Bank

to exercise supervision over the activities of electronic money institutions, or

the devolution of responsibilities of persons carrying out business management

electronic money to another person.



(3) a significant operational activities referred to in paragraph 2 is the operational activity,

the non-execution or incorrect execution would substantially impair the

systematic fulfilment of the obligations laid down by the electronic money institution

This Act.



(4) the notice referred to in paragraph 1 may be made only on the prescribed form,

to which the notifier shall be accompanied by documents certifying that the conditions

referred to in paragraphs 2 and 3. Forms and contents of its annexes

down detailed legislation.



Information obligation



§ 52k



(1) an electronic money institution provides the Czech National Bank

information about its financial situation, the results of the economic,

compliance with the performance of his tasks and the information about your business

representatives, which distributes electronic money in

another Member State or provides payment services.



(2) an electronic money institution shall inform the Czech National Bank with


well in advance of any significant change in measures relating to

protection of funds against adoption were released

electronic money.



(3) the content, form, and manner of providing the information referred to in paragraph 1

down detailed legislation.



Retention of documents and records



section 52 l



(1) an electronic money institution shall keep the documents and records that

regarding electronic money institutions fulfilling the obligations under this

head, at least for a period of 5 years from the date on which such documents or records

arose. The obligation to keep documents under other legislation

This does not affect.



(2) the obligation provided for in paragraph 1 is a legal successor of the institution

electronic money and the one whose authorised institutions

electronic money has been terminated or who has been withdrawn.



Part 4



The performance of the activities of electronic money institutions and foreign institutions

electronic money in the host Member State



§ 52 m



The performance of the activities of an electronic money institution in the host Member

State



(1) an electronic money institution which intends to start exercising

the activities referred to in § 46 para. 2 in the host Member State, it

notify the Czech National Bank. If the electronic money institutions

intend to carry out the activities referred to in § 46 para. 2 through

the branch shall indicate in the notice details of the organizational structure and the way

management of the branch.



(2) the Czech National Bank shall inform the supervisory authority of the host Member

State within 1 month of the date on which the notification referred to in paragraph 1,

business name of an electronic money institution, its head office and other data

contained in the notification.



(3) the notification referred to in paragraph 1 may be made only on the prescribed form,

to which the notifier shall be accompanied by documents certifying the information referred to in

the notification.



Patterns of the forms and content of the annexes thereto lay down the detailed legislation.



§ 52n



The performance of the activities of foreign electronic money institutions established in

another Member State in the Czech Republic



(1) foreign electronic money institutions established in another

a Member State may, in the Czech Republic to carry out the activities referred to in section 46

paragraph. 2, to whose performance is entitled to on the basis of authorisation

It was granted to the supervisory authority of its home Member State.



(2) where the Czech National Bank has reason to suspect that, in connection with the

the performance of the activities of foreign electronic money institutions established in

another Member State through a branch in the Czech Republic can

may increase the risk of the legalization of proceeds of crime, or

terrorist financing, shall communicate this fact without undue delay

the home Member State supervisory authority of this institution of electronic

money. ".



76. The title of title V, the following text



"Part 1



Basic provisions ".



77. In § 53 para. 1 the words "the person who is entitled to" shall be replaced by

"the legal person who is entitled to".



78. In paragraph 53, at the end of paragraph 1, the following sentence "the provisions of § 46 para.

2 shall apply accordingly. ".



79. In § 53 paragraph 2 reads as follows:



"(2) small-scale electronic money Issuer is entitled to issue

electronic money and to provide payment services that relate to the

electronic money, only if the average it issues

electronic money in circulation in the Czech Republic does not exceed the amount

corresponding to eur 5 000 000. If you cannot determine what portion of the cash

resources transmitted by the holder of the electronic money issuers of small

the range is specified for payment transactions that relate to the

electronic money, based on the average of the electronic

money in circulation of such part of such funds, which

corresponds to the estimate based on data from previous periods. If

the Publisher of the electronic money issued by the electronic small scale

money for less than 6 months, based on the average of his

outstanding electronic money in circulation from its business plan. "



80. in paragraph 53, the following paragraphs 3 and 4 are added:



"(3) small-scale electronic money Issuer is entitled to

provide payment services that are not related to electronic money,

only if the monthly average of the amounts it executed payment

transactions that do not apply to electronic money in the Czech Republic,

including payment transactions executed through its business

representatives for the past 12 months does not exceed an amount corresponding to 3 000

000. If the Publisher small-scale electronic money

provides payment services that are not related to electronic money,

for less than 12 months, is based on the amount it made

payment transactions from its business plan.



(4) average of electronic money in circulation shall, for the purposes of this Act,

means the arithmetical average of the above commitments, the Publisher arising from the

electronic money at the end of the calendar day for the last 6

calendar months. ".



81. in paragraph 53, the following text



"Part 2



Registration of small-scale electronic money issuer ".



82. In § 54 paragraph 1 reads:



"(1) the Czech National Bank writes to the registry of issuers of electronic

money small scale of the applicant,



and) which is a legal person,



(b)) which has its registered office in the Member State in which it actually operates, and

a branch in the Czech Republic,



(c)) whose business plan is based on realistic economic calculations and is

in accordance with the conditions laid down in § 53 para. 2 and 3,



(d)) that provides the protection of funds against which

the adoption of electronic money have been issued or entrusted to the

execution of a payment transaction,



e) If none of the heads of the people has not been convicted for the crime

offence against property, economic offence or of an offence

committed in connection with the financing of terrorism and



(f)) which was not caused by the fact that bases an obstacle to the operation of the

trades under the law governing business. ".



83. In § 54 para. 2 the words "the conditions referred to in paragraph 1 (b). (b)), and

c) are satisfied shall be replaced by the condition referred to in paragraph 1 (b).

(f)) is true. "



84. In paragraph 56, the word "each" is deleted.



85. In paragraph 56, the existing text shall become paragraph 1 and the following

paragraph 2, which reads as follows:



"(2) the notification referred to in paragraph 1 may be made only on the prescribed

form, to which the notifier shall be accompanied by documents certifying the change

the data referred to in the application for registration in the register of electronic publishers

the money is small or its annexes on the basis of was to

This register is written. Patterns of the forms and content of the annexes thereto lay down

implementing legislation. ".



86. In paragraph 57 of the introductory part of the provisions, the word "If" is replaced by

the word "day".



87. In § 57 para. 1 a) and (b)):



"and the Publisher of electronic money) the cancellation of a minor nature,



(b)) the acquisition of the decision about the bankruptcy of the Publisher of the electronic

the money is small or the acquisition of the legal force of the decision rejecting the

insolvency petition for lack of assets the Publisher of electronic

a small-scale money ".



88. In paragraph 57, at the end of paragraph 1, the period is replaced by a comma and the following

subparagraph (c)), and (d)), which read as follows:



"(c)) the acquisition of the decision, which awarded the Czech National Bank

small-scale electronic money issuers authorized to practice

electronic money institutions, or on the date that is specified in the decision

as the date of the authorization, or



(d) electronic money issuer) notation in the register of providers of

small-scale payment service. ".



89. In § 57 para. 3 of the introductory part of the provisions, the words "provider

the payment service "are replaced by the words" electronic money issuer ".



90. in § 57 para. 3 (b). a), the words "the issuance of electronic money"

replaced by the words "exercise of activities in accordance with § 46 para. 2. "



91. In paragraph 57, paragraph 4 reads:



"(4) If a small-scale electronic money issuer within 30 days

the date on which he ceased to satisfy the conditions laid down in § 53 para. 2, give

application for authorisation to the activities of the payment institution, an application for authorisation to

the activities of an electronic money institution or a request for entry in the register

the payment service provider of a minor nature, the Czech national

Bank in the decision referred to in paragraph 3 (b). (b)) provide that shall not take

effect before the decision takes effect on the application. ".



92. the heading of section 58 is repealed.



93. section 58 reads as follows:



"§ 58



(1) from the date of dissolution or cancellation of the registration of the Publisher of the electronic

a small-scale money not the one whose registration ceased to exist or was

cancelled, to undertake activities pursuant to § 46 para. 2. Financial resources

entrusted to the execution of a payment transaction, must be issued

users. Money, whose adoption were released

electronic money, must be issued to the holders. If you cannot determine

What part of funds passed by the holder or by the user

electronic money issuers small scale is intended for the payment

the transaction must be the holder or returned to the user such a part

of the funds, of which 1 year from the date of termination of or withdrawal of


enabling the business of electronic money institutions. To the date of

settlement of obligations towards the holders and the users, whose registration

ceased or was cancelled, continues to be considered the Publisher

small-scale electronic money.



(2) paragraph 1 shall not apply to activities which is the one whose

small e-money issuer registration range to lapse or

has been cancelled shall be entitled to continue to exercise on the basis of another permission. ".



94. in paragraph 58, the following new section 58a and 58b are added:



' paragraph 58a



If a small-scale electronic money issuer request for

extension of the scope of payment services which are not related to electronic

money and covered by the authorisation shall apply mutatis mutandis to section 54

paragraph. 1 (b). (c)), § 55 and 56.



section 58b



(1) the Czech National Bank will narrow the range of payment services, which are

not qualify for electronic cash and which are subject to registration

small-scale electronic money issuer, if the Publisher

electronic money is requested.



(2) the Czech National Bank could narrow the range of payment services, which are

not qualify for electronic cash and which are subject to registration

small-scale electronic money issuer, if



and electronic money issuer) small scale does not meet the conditions

provided for in § 53 para. 3,



b) small-scale electronic money issuer repeatedly or

serious breach the obligation laid down in this Act or other

legislation governing the procedure for the exercise of activities in accordance with § 46

paragraph. 2, or



(c)) registration was carried out on the basis of false or incomplete

data or as a result of another illegal procedure, Publisher

small-scale electronic money.



(3) For reducing the range of payment services which are not related to

electronic money and covered by the authorisation of the Publisher

small-scale electronic money, § 58 shall apply mutatis mutandis. ";"



95. under section 58b, the following text



"Part 3



Some of the conditions for the exercise of the activity of a small e-money issuer

the range ".



96. the heading above paragraph 59 is repealed.



97. section 59:



"section 59



(1) For small-scale electronic money issuer shall apply

Similarly, section 52d-52 g, 52k and 52 l.



(2) the Issuer of electronic money is small not the user

provide interest and other benefits depend on the length of time after which the

the funds are entrusted to carry out payment transactions. ".



98. in part three, title II, including title and footnotes # 10 and

11 shall be added:



"TITLE II



PAYMENT SYSTEM WITH THE FINALITY OF SETTLEMENT



Part 1



Basic provisions



§ 62



(1) payment system with the finality of settlement is a system



and) that has at least 3 participants referred to in § 64 para. 1 (b). a) to (h)),



(b)) that performs clearing [§ 63)] on the basis of specified

the rules,



(c)), whose participants at least one of which has its registered office and head office in

The Czech Republic, will agree that the legal relations between them in the

the implementation of the settlement governed by Czech law, and



(d)) whose existence of the Czech National Bank has announced the European Commission pursuant to §

73f para. 1 or 2.



(2) the foreign payment system with the finality of settlement is

payment system, whose existence the European Commission announced

authority of another Member State under the legislation of the European Union relating to the

settlement finality in payment systems ^ 10).



(3) payment system with the finality of settlement and participation in this

the system is based in the Treaty.



§ 63



The definition of some terms



For the purposes of this Act, means the



and clearing)



1. set-off mutual claims, or



2. fulfilment of the reciprocal transfer of funds financial debts,



(b)) by the clearing instruction by a participant of the payment system with

finality of settlement or participant or system operator

linked in accordance with § 69, based on which it is to be in accordance with the rules

payment system with the finality of settlement (hereinafter referred to as "the rules of the

the system "), done in clearing,



(c)) a central counterparty, one who when entering between the participants

payment system with the finality of settlement referred to in § 64 para. 1

(a). a) to (h)) as their exclusive counterparty,



d) settlement agent he who leads to the participants of the payment system with

finality of settlement referred to in § 64 para. 1 (b). a) to (h)), or

j) account, to which the clearing,



e) collateral person who performs settlement netting set

mutual claims with the finality of payment system participants

the clearing referred to in § 64 para. 1 (b). a) to (h)), j), or k),



(f) the operating rules of the system date) set out, regularly recurring

the period during which the payment system with the finality of settlement and accepts

performs commands to clearing and other operations with this clearing

related.



§ 64



Participant of the payment system with the finality of settlement



(1) a participant in a payment system with the finality of settlement can be

only



and) the Bank,



(b)) a foreign bank,



c) savings and credit cooperative,



d) a securities dealer,



(e) a person authorised to provide) foreign main investment services



(f)) a legal person under public law or a legal person, the

all the obligations of the person is guaranteed by public law,



(g)) the Czech National Bank, foreign central bank or the European

the Central Bank,



h) a legal person with a special status, which is excluded from the

the scope of the regulation the European Union governing access to the activity

credit institutions and its performance ^ 11),



I) payment system operator with the finality of settlement (section 70),



j) a central counterparty



k) a settlement agent,



l) a clearing house and



m) a person who carries out a similar activity as one of the persons referred to in

(i) to (l))) in a securities settlement system with the finality of

the settlement, in the foreign payment system with the finality of

Clearing or foreign securities settlement system with the finality of

the settlement.



(2) the activities of a central counterparty, settlement agent or clearing house

the institution may be exercised even more participants of the payment system with

finality of settlement.



Part 2



The operation of the payment system with the finality of settlement Rules

System



§ 65



(1) the operator of a payment system with the finality of settlement

lays down the rules of the system.



(2) the rules governing the system of at least



and the business name or name), registered office and identification number, if

granted, with the finality of payment system operator

clearing,



b) conditions for participation in a payment system with the finality of settlement,

which must be transparent and must contain objective criteria for

access to the payment system with the finality of settlement,



(c)) the rights and obligations of the payment system with the finality of

settlement resulting from their participation in this system,



(d)) the manner and the detention conditions of the obligations arising from participation in the

payment system with the finality of settlement,



(e) the manner and terms of the settlement), including the establishment of a procedure for fixing bugs

incurred during the reckoning,



(f)) the details command to clearing the way and the conditions of its entry into

payment system with the finality of settlement,



g) information that the participant with the finality of payment system

clearing provides the operator with the finality of payment system

Clearing for the performance of its duties, and the way they are provided,



h) measures that the operator may payment system with

finality of settlement against participant of the payment system

with the finality of settlement, and the procedure for their implementation,



I) a timetable for implementation of the settlement, including the schedule of individual

the stages in which the settlement takes place,



j) definition of the operating day,



to) the time to which the command to be considered adopted

payment system with the finality of settlement,



l) the time to which the command to the specified in the payment

system with the finality of settlement considered unilaterally

irrevocable, and the technical conditions for the security of its

finality,



m) currency in which clearing is performed, and



n) access rules to the risks, which include at least



1. the risks to which payment system with the finality of settlement or

may be exposed, including systemic risk, operational risk, risk

liquidity and credit risk



2. the procedures of recognition, evaluation, measurement, monitoring and reporting

risks and



3. the procedures for the adoption of measures to reduce risks, including

the determination of the appropriate conditions for participation in a payment system with the

finality of settlement.



§ 66



(1) the operator and the participants of the payment system with the finality of

obey the rules of posting.



(2) the operator of a payment system with the finality of settlement

published rules of the system in a manner allowing remote access. In

the headquarters and at the premises of the operator's payment system with


finality of settlement may each be regarded.



§ 67



Changing the rules of the system



(1) change the rules of the system becomes effective at the moment of publication,

unless otherwise provided in a payment system operator with the finality of

a moment later the efficiency of clearing. Change the rules of the system cannot be

publish, as long as the Czech National Bank has given its approval to the change.



(2) a participant in the procedure for granting consent to change the rules of the system is

only the operator of a payment system with the finality of settlement.

Unless the Czech National Bank decision on the request for consent

to change the rules of the system within one month from the date of receipt of the application,

rule, that consent has been granted.



The irrevocability of settlement order



§ 68



(1) from the date provided for in the rules of the system cannot command to

clearing unilaterally revoke.



(2) the bankruptcy decision or decision or other action of a public

can be introduced to stop or limit the clearing, to the exclusion or

restrictions on use of funds on the account to which the

the reckoning, or the exclusion or limitation of application of law to meet

provision shall not affect the



and, effectiveness) the validity or enforceability of a command to a clearing, where the

This statement was adopted by the payment system with the finality of settlement

before the release of this decision or before performing this action,



(b)) the ability to use the funds on the account of a participant of the payment

system with the finality of settlement, on which the clearing, to the

fulfilment of the obligations incurred in the payment system

finality of settlement or in a system of interconnected according to § 69,

If the funds are used during the operating day, in

during which there was a release of this decision or to perform this

the intervention, and



(c)), the effectiveness or enforceability of the right to the satisfaction of securing

provided by the participant or the payment system operators with

finality of settlement or a linked system, pursuant to section 69.



(3) to exclude the effects of the bankruptcy decision or decision or other

intervention by the public authority referred to in paragraph 2 (a). and) occurs even if,

that was the order for the settlement accepted by the payment system with the finality of

clearing after the release of this decision or after you perform this action,

If



and) settlement is performed during the operational day, during which there was a

the release of this decision, or for the implementation of this intervention, and



(b) payment system with the operator) the finality of settlement was not

to the time when the command to become irrevocable under

paragraph 1, the date of this decision or the implementation of this intervention

notified and was not otherwise be known; the fact that the

the bankruptcy decision was published in the insolvency register itself

each other does not mean that this decision was the operator of a payment

with the finality of settlement system known or should be known.



(4) the bankruptcy decision or decision or other action of a public

power referred to in paragraph 2 does not have retroactive effects on the rights and obligations that

incurred in the payment system with the finality of settlement or in the system

linked in accordance with § 69 prior to the release of this decision or before

You can perform this action.



System link



§ 69



(1) if the operator of a payment system with the finality of

the clearing of the Treaty link with other payment systems

with the finality of settlement system, settlement system with

finality of settlement, foreign payment system

finality of settlement or the foreign securities settlement system with

finality of settlement allowing the mutual execution of commands to

the settlement does not constitute a new payment system with the finality of

the showdown.



(2) if it is possible, with a payment system operator

finality of settlement shall ensure that the rules of the system and rules

a linked system referred to in paragraph 1 was coordinated as regards

moment to which the command to be considered unilaterally

irrevocable, and the instant, to which such an order it considers

adopted by the system. Unless otherwise agreed by the parties in the contract referred to in paragraph 1

otherwise, the rules of connected systems with regard to these

moments, independently of each other.



Part 3



The operator of a payment system with the finality of settlement



section 70



(1) the operator of a payment system with the finality of settlement is

a legal entity that is authorized to operate a payment system with

finality of settlement on the basis of the authorisation for the operation of the payment

with the finality of settlement system, which has granted her Czech national

the Bank.



(2) the operator of a payment system with the finality of settlement is

required to operate a payment system with the finality of settlement with

professional care.



Authorisation for the operation of the payment system with the finality of settlement



§ 71



(1) the Czech National Bank has granted authorisation for the operation of the payment system

with the finality of settlement to the applicant,



and) which is a joint-stock companies or limited liability companies,



(b)) which has its registered office and head office in Czech Republic



(c)) that has an initial capital of at least the amount corresponding to the amount of 730

000 eur,



(d)) whose business plan including a forecast budget on the first 3

the accounting period is aided by the real economic calculations,



e) whose substantive, technical, personnel and organizational preconditions are

appropriate in terms of the sound and prudent operation of the payment system

with the finality of settlement,



(f)) which any business consisting in activities other than in

the operation of the payment system with the finality of settlement

It does not represent a significant threat to the financial stability of the operator

payment system with the finality of settlement or cannot defend

the effective exercise of supervision over the activities of the operator's payment system with

finality of settlement,



g) which have a qualifying holding by persons who are

trusted and competent to ensure the sound and prudent management of the operator

payment system with the finality of settlement,



h) whose close links with another person do not prevent the effective exercise of supervision

over the activities of the operator with the finality of payment system

clearing; When the close links with the party, which is governed by the laws of the

State which is not a Member State, not the legal order or the way

its application to hamper effective supervision over the activities of

the operator's payment system with the finality of settlement,



even the head of the person) are trusted,



j) whose leading persons who effectively conduct the business in the area

the operation of the payment system with the finality of settlement, are

competent and have sufficient experience in terms of sound and

prudent operation of the payment system with the finality of settlement

and



to the rules established by the system) that are appropriate in terms of

the sound and prudent operation of the payment system with the finality of

clearing and in terms of systemic risk.



(2) the Czech National Bank has granted authorisation for the operation of the payment system

with the finality of settlement and an applicant who



a) is a legal entity,



(b)) has its registered office and head office in another Member State,



(c)) is authorized to operate a system similar to the payment system

finality of settlement, in which the legal relations between the parties to the

When carrying out clearing system governed by the law of another Member State, and



(d)) has established rules that are appropriate in terms of sound and

prudent operation of the payment system, with the finality of settlement

and in terms of systemic risk.



(3) an application for authorization to operate a payment system with

finality of settlement can be made only on the prescribed form, to the

which the applicant shall be accompanied by documents certifying compliance with the conditions referred to

in paragraph 1 or 2. The pattern of the form and content of the annexes thereto lay down

the implementing legislation.



§ 72



(1) the decision on the application for authorization to operate a payment system

The Czech National Bank shall issue within 6 months from the date of initiation of the proceeding.



(2) the decision to grant a permit to operate a payment system with

finality of settlement rules shall be approved by the Czech National Bank

the system.



(3) the operator of a payment system with the finality of settlement shall notify the

without undue delay, the Czech National Bank change of information contained in the

application for a permit to operate a payment system with the finality of

Clearing or its annexes on the basis of the authorisation to

the operation has been granted.



(4) the notice referred to in paragraph 3 may be made only on the prescribed form,

to which the notifier shall be accompanied by documents certifying the change data. Pattern

the form and the content of its annexes laying down detailed legislation.



The disappearance and withdrawal of authorisation for the operation of the payment system with

finality of settlement



section 73



(1) a permit to operate a payment system with the finality of

clearing shall lapse on the date of




and the cancellation of the payment system operators) with the finality of

clearing, or



(b)) the acquisition of the decision of the bankruptcy of the operator of the payment

system with the finality of settlement or the acquisition of the decision

rejecting the insolvency petition for lack of assets of the operator

payment system with the finality of settlement.



(2) the Czech National Bank shall withdraw the authorisation for the operation of the payment

system with the finality of settlement, if



and it's the operator) on the payment system with the finality of settlement

requested, or



(b)) with the finality of clearing payment system does not meet the conditions

referred to in § 62 para. 1 (b). a), b) or (c)).



(3) the Czech National Bank may withdraw the authorisation for the operation of the payment

system with the finality of settlement, if



and payment system with the operator) the finality of settlement

repeatedly or seriously violated the obligation laid down in this

by law or other legislation relating to the operation of

payment system with the finality of settlement,



(b)) the operator of a payment system with the finality of settlement

does not meet the conditions for the grant of authorisation for the operation of the payment

with the finality of settlement system



(c)) the operator of a payment system with the finality of settlement did not start

within 12 months from the date of the granting of authorization to operate a payment system with

finality of settlement,



(d)) the operator of a payment system with the finality of settlement

operates a payment system with the finality of settlement for longer

than 6 months, or



(e)) the authorisation was granted on the basis of false or incomplete information

or as a result of another illegal procedure, the operator of the payment

system with the finality of settlement.



(4) the Czech National Bank shall inform the public in a manner allowing

remote access to the effect that there was a dissolution or withdrawal of the authorisation to

the operation of the payment system with the finality of settlement.



section 73a



The authorisation for the operation of the payment system with the finality of

the showdown has been terminated or who has been withdrawn without undue delay

shall notify the participants in the payment system with the finality of

the showdown. To complete the clearing based on the settlement of orders

received prior to the date of termination of or withdrawal of authorization shall continue to be considered

for the operator's payment system with the finality of settlement.



Part 4



Information obligations of the operator and the Subscriber's payment system with

finality of settlement



section 73b



(1) the operator of a payment system with the finality of settlement

the Czech National Bank shall inform without delay the



and company or business name) or the name and surname of the participant

payment system with the finality of settlement, their residence, place of

business or residence, their identification number, if

and in the case of natural persons, their date of birth and hometown

number, if assigned, and about the change of these data and



(b)) of the draft decision on its liquidation or without liquidation

or a change in its business; just inform the adoption of

such a decision by the competent authority of the operator of the payment system

with the finality of settlement.



(2) participants of the payment system with the finality of settlement without

undue delay informs the operator's payment system with

finality of settlement about the information in the scope of paragraph 1 (b). and).



(3) the operator of a payment system with the finality of settlement

immediately inform the participants of the payment system with the finality of

clearing and linked system operator pursuant to section 69 of the notification

According to § 73f para. 4.



(4) the operator of a payment system with the finality of settlement

the Czech National Bank provides information about your financial situation

the results of its management and the fulfilment of the conditions of performance of its activities.



(5) the content, form, and manner of providing the information referred to in paragraph 4

down detailed legislation.



section 73 c



Participant of the payment system with the finality of settlement at the request of

informs who about a legitimate interest, the payment system with

finality of settlement, which involved, and about its rules.



section 73d



Participant of the foreign payment system with the finality of settlement,

which has its registered office or place of business in the Czech Republic,



and, on request, inform them), who on a legitimate concern about this

the system and its rules and



(b)) shall inform without delay the Czech National Bank on its participation in the

This system, a Member State, that the existence of this system announced

The European Commission, about the address of its registered office or place of business and amending

These facts.



Part 5



Notification obligation of the public authorities



section 73e



The obligation of notification to the Court or other public authority



On the issue of the bankruptcy decision or decision or other intervention

a public authority pursuant to § 68 para. 2 against the party paying

system with the finality of settlement shall notify without undue delay

Court or other public authority, which carried out the action, the Czech national

the pot. Court or other public authority shall inform the Czech National Bank

also in the case if the decision issued or similar authority interventions

the public authority has made against the party of foreign payment system

finality of settlement, which has its registered office or place of business in the United

Republic.



§ 73f



The notification requirements of the Czech National Bank



(1) the Czech National Bank shall, without undue delay, the European Commission

the existence of a payment system with the finality of settlement, which

the operators granted a permit to operate a payment system with

finality of settlement. The notification shall indicate the Czech National Bank

the operator's payment system with the finality of settlement. If there is a

the changes referred to in the notification, it shall inform the Czech national

the Bank without undue delay, the European Commission. If the authorization to

the operation of the payment system with the finality of settlement has been terminated

or has been withdrawn, the Czech National Bank shall notify to the European Commission's demise

This payment system with the finality of settlement without undue

delay after clearance has been completed on the basis of orders received

before the date of withdrawal or termination of the permit.



(2) the Czech National Bank may notify the European Commission of the existence of

the payment system, which operates under the law governing the position of

and the scope of the Czech National Bank, if the system satisfies the conditions

referred to in § 62 para. 1 (b). a) to (c)). In the notice, Czech National Bank

stating that the operator of this system. For this system, and for

The Czech National Bank in the performance of the activities of its operators in § 67

paragraph. 1 the second sentence and paragraph. 2, § 71, 72, section 73b paragraph 1(a). 1 and paragraph 4

do not apply. The Czech National Bank notification under the first sentence without undue

delay withdrawn if the system no longer meets the conditions referred to in §

62 para. 1 (b). a), b) or (c)).



(3) if the Czech National Bank has received a notification under section 73e, which

refers to a participant of foreign payment system with the finality of

the clearing house which has its registered office or place of business in the Czech Republic,

shall notify without delay the competent authority of the Member State which

the existence of this system reported to the European Commission.



(4) if the Czech National Bank has received a notification under section 73e or

a similar notice from the authority of another Member State, which applies to

participant of the payment system with the finality of settlement, it shall notify the

the operator immediately of this payment system with the finality of

the showdown.



10) Article. 10 European Parliament and Council Directive 98/26/EC.



11) Article. 2 of European Parliament and Council Directive 2006/48/EC of 14 July 1999.

June 2006 concerning the access to the activity of credit institutions and on its performance,

in the texts of Commission directives 2007/18/EC and 2010/16/EU ".



99. In paragraph 75, the following new paragraph 1, which reads as follows:



"(1) the provider and the user may not derogate from the provisions

of this title, to the disadvantage of the user, unless this Act provides otherwise. ".



Paragraphs 1 to 3 shall become paragraphs 2 to 4.



100. In section 75 para. 2 introductory provisions read as follows:



"In the case of a payment transaction that the payer or provider

the recipient's provider performs in a non-Member State or, in the

the case of the payment transaction in the currency is not the currency of the Member State,

provider and the user agreement can derogate ".



101. In paragraph 76, paragraph 4 reads:



"(4) means of payment for small payments, for the purposes of this Act,

means the payment instrument,



and that can be used by) framework agreement to give the command to



1. the payment transaction in the amount not exceeding EUR 30,



2. national payment transaction in the amount not exceeding 60

invention or



3. payment transaction, which applies to electronic money, in the amount of

not exceeding 500 euros, or



(b)) that under a framework contract has a spending limit or keeps cash

resources in the amount not exceeding



1.150 EUR,




2.300 EUR, if this means of payment according to the framework

the Treaty give the command to only domestic payment transaction, or



3.500 euros, if this means of payment according to the framework

the Treaty put command only to the payment transaction that relates to the

electronic money. ".



102. In paragraph 84, at the end of paragraph (e)) the comma is replaced by a dot and the letter f)

is hereby repealed.



103. In paragraph 85 (a). f), the words "made on the initiative of the recipient" shall be replaced by

the words "in accordance with section 103".



104. In paragraph 89, the provisions of the introductory part, the words "initiated by the payer of the adjusted

framework contract "shall be replaced by" which is regulated by a framework

contract and which gives the payment order, the payer's ".



105. In section 93 para. 1, after the words "small payments", the words "§ 80

up to 85 and section 89 shall not apply; in this case ".



106. In paragraph 93, the following paragraph 3 is added:



"(3) paragraph 2 the second and third sentences shall not apply in the case of anonymous

the use of a means of payment for small payments and, if

provision of the information is not technically possible. In this case, however,

the provider allows the user to verify the amount of funds with which

You can make the overall payment transactions based on the payment order

the means of payment. ".



107. In article 94, paragraph 1, the second sentence is replaced by the phrase "in the case of payment

resources for small payments, the provider and the user may, in the framework

the Treaty agree that the provider is not obliged to propose to the user

the change of the framework contract on a durable data medium in the manner specified in § 80

paragraph. 1. ".



108. In § 94 paragraph. 2 the words "change in the information referred to in section 81, § 83

(a). (d)) and section 84 (a). (e)), which are not content "shall be replaced by

"If this is not a change" and after the word "report" with the words "change

the information referred to in section 81 to 85 ".



109. In paragraph 94 is at the end of paragraph 2 the following sentence "paragraph 1 second sentence

shall apply accordingly. ".



110. In the title of § 101, the words "the holder of the payment instrument"

shall be replaced by the word "user".



111. In paragraph 101 of the introductory part of the provisions, the words "(hereinafter referred to as" the holder of the

payment instrument ") ' shall be deleted.



112. In the heading of section 102, the words "Publisher payment instrument"

shall be replaced by the word "provider".



113. In section 102 paragraph. 1 the introductory part, the words "provisions (hereinafter referred to as

"Publisher payment instrument") ' shall be deleted.



114. In section 102 paragraph. 1 (b). a), the words "persons other than the holder,"

replaced by the words "persons other than the user" and the words "the holder of the

payment instrument "shall be replaced by the word" user ".



115. In section 102 paragraph. 1 (b). (b)) after the word "for", the words "previously

issued "and" issued to the holder of the payment instrument has previously "shall be deleted.



116. In section 102 paragraph. 1 (b). (c)) the introductory part of the provisions of the words

"the holder of the payment instrument" shall be replaced by the word "user".



117. In section 102 paragraph. 1 (b). (d)), the words "the holder of the payment instrument"

shall be replaced by the word "user".



118. In section 102 paragraph. 2 the words "Publisher payment instrument"

replaced by the word "provider" and the words "the holder of the payment

resource "shall be replaced by the word" user ".



119. In § 103 para. 1 introductory part of the provisions, the words "of the payer's"

replaced by the words "in the case of a payment transaction to which gives the payment

the recipient command or through a payee, the payer, the payer "and

the words "carried out on the initiative of the recipient" shall be deleted.



120. In paragraph 103, paragraph 5 shall be deleted.



121. In § 104 paragraph. 2 the word "initiative" is replaced by "gives

payment order ", the word" agreed "shall be replaced by the word" agree "and

the words "for the purposes of section 106 paragraph. 4, section 109 and section 111 to 113 "shall be deleted.



122. In § 105 para. 1 the term "adoption" is replaced by "design".



123. In § 105 para. 1, the last sentence shall be deleted.



124. In § 106 paragraph. 3 the first sentence, the words "on the initiative of the recipient" shall be replaced by

the words "to which gives the payment order to the beneficiary or the payer

by means of the recipient ".



125. In § 106 paragraph. 3, the last sentence shall be deleted.



126. In § 107 para. 2 the words "initiated by the payer" shall be replaced by "to the

which gives the payment order to the payer "and the words" on the initiative of the beneficiary "

replaced by the words ", which gives the payment order to the beneficiary or the payer

by means of the recipient ".



127. section 109 including title:



"§ 109



The deadline for the crediting of funds to the account of the recipient's provider



(1) the provider of the payer shall ensure that the funds have been credited

on the account of the provider of the recipient no later than the end of the following

working day following the point in time of acceptance of the payment order.



(2) the payer and provider can agree on working time limit 1

the day is longer than the period referred to in paragraph 1, in the case of payment

transaction in the



and the pound sterling), which is given by the paper payment order and

does not include currency conversion,



(b)) to the euro currency, which is given by the paper payment order and that includes

currency conversion between the euro and the currency of the Member State in whose territory the

currency exchange occurs, or



(c)) the Czech currency, which is carried out exclusively within the territory of the Czech Republic and

includes a different currency conversion than the shift between the Czech currency and the euro currency.



(3) the payer and provider can agree a deadline of 3 working

days longer than the period referred to in paragraph 1, in the case of payment

transaction in the



and the pound sterling), which includes currency conversion between the euro and another currency

than the currency of the Member State on whose territory the currency exchange occurs



(b)) the Czech currency, which is not carried out exclusively within the territory of the Czech Republic,

or



(c)) the currency of another Member State with the exception of the euro currency.



128. In paragraph 110 of the final part of the provision, the words "or for a payment account

denominated in a currency other than the Member State "shall be deleted.



129. In paragraph 111, the words "and 110 shall not apply" shall be replaced by "

does not apply ".



130. In the heading of section 113, the words "on the initiative of the recipient" shall be replaced by ",

to which gives the payment order to the beneficiary or the payer through

the recipient ".



131. In section 113 para. 1 the words "on the initiative of the beneficiary, to which was given to

consent for use of the payment instrument "shall be replaced by the words" to which

gives the payment order to the payer by the payee or beneficiary ".



132. In § 117 paragraph 1. 6, the words "on the initiative of the recipient" shall be replaced by ",

to which gives the payment order to the beneficiary or the payer through

the recipient ".



133. In § 118 paragraph. 1 the words "initiated by the payer" shall be replaced by "to the

which gives the payment order, the payer's ".



134. In § 118 paragraph. 2, the words "on the initiative of the recipient" shall be replaced by ",

to which gives the payment order to the beneficiary or the payer through

the recipient ".



135. In article 119, paragraph 3 shall be deleted.



136. In paragraph 120, paragraph 3 shall be deleted.



137. In paragraph 123, the second sentence shall be deleted.



138. In part four, title II, including the title reads as follows:



"TITLE II



RIGHTS AND OBLIGATIONS IN THE ISSUANCE OF ELECTRONIC MONEY



§ 124



Agreement on the issue of electronic money



(1) the Publisher publishes the electronic money on the basis of the Treaty on the issue of

electronic money, concluded with the holder. The rights and obligations

the Publisher and the holder in the execution of payment transactions, which are

related to outstanding electronic money shall be governed by the provisions governing the

the contract on payment services.



(2) the Publisher is issuing electronic money against the acceptance of

funds in the amount corresponding to the nominal value of the issued

electronic money.



(3) the Publisher shall provide the holder of the interest or other benefits depend

on the length of time during which the holder of the electronic money held.



Redeemability of electronic money



section 124a



(1) the return in Exchange for the purposes of this Act, the exchange of

electronic money for banknotes, coins or non-cash money

resources in the amount corresponding to the nominal value of the

electronic money, carried out by the Publisher on request of the holder. The holder of the

may ask the Publisher for redemption at any time.



(2) if so requested by the holder of a redemption prior to the date of termination of the legal

the relationship of the Treaty on the issue of electronic money, does the Publisher

redemption in the extent to which the holder requests it.



(3) if so requested by the holder of the redemption on the day of termination of the legal relationship of

the Treaty on the issue of electronic money, or within 1 year after that date,

does the Publisher of redemption in its entirety. If you cannot determine

What part of funds received by electronic money institutions

or the issuer of electronic money is intended for small scale

payment transactions that pertain to electronic money, the

the right of redemption to all received funds, and the

to the extent in which the holder of the redemption requests.



(4) the right of redemption will not be limited, as long as the legal relationship of

agreement on the issue of electronic money.



section 124b



(1) the Issuer shall inform the holder definitely and clearly on the conditions

the reverse exchange in sufficient time before the holder is

agreement on the issue of electronic money is bound to.



(2) the holder is not bound by its proposal on conclusion of the contract for the issue


electronic money, if it did before it was in accordance with the

paragraph 1 shall be informed about the terms of the reverse exchange.



(3) if the agreed consideration for the right Publisher to perform reverse

Exchange, belongs to the Publisher of this remuneration only if the holder of the

ask for redemption prior to the date of termination of the legal relationship of the Treaty on the

the issue of electronic money, or more than 1 year after that date, or

If the holder of the contract on the issue of electronic money, which

was concluded for a fixed term. Remuneration shall be proportionate and shall

correspond to the real cost of the Publisher.



section 124 c



If the person receiving the redemption of electronic money, which

is not a consumer, section 124a of paragraph 1. 2 and 3 and section 124b of paragraph 1. 3 shall not apply. In

this case is governed by the terms of the reverse exchange on the issue of

electronic money. ".



139. In paragraph 125 of paragraph 1. 1 (b). a), the words "or 3" shall be deleted.



140. In paragraph 125 of paragraph 1. 1 (b). (g)), the word "breach" is replaced by

"fail".



141. In paragraph 125 of paragraph 1. 1 (b). (h)), the words "violates the prohibition to entrust" shall be replaced by

the word "entrust" and the words "in accordance with § 25" shall be replaced by the words "in violation of §

26. "



142. In paragraph 125 of paragraph 1. 2 (a). (b)), the number "40" is replaced by "37".



143. In paragraph 125 of paragraph 1. 2 at the end of subparagraph (c)) the following the word "or".



144. In paragraph 125 of paragraph 1. 2 letter d) is added:



"d) contrary to section 44 para. 2 will provide the user interest or other benefit

dependent on the length of time that the funds entrusted to him to

execution of a payment transaction. ".



145. In paragraph 125 of paragraph 1. 2, letter e) repealed.



146. In paragraph 125 of paragraph 1. 3 (b). and) the words "for the purpose" shall be replaced by

the "k".



147. In paragraph 125 of paragraph 1. 3 (d)) shall be deleted.



Subparagraph (e)), and (f)) shall become points (d) and (e)).)



148. In paragraph 125 of paragraph 1. 4 (b). and) the words "or e)" shall be deleted and the words "e)

or (f)) "shall be replaced by" d) or (e)) ".



149. In paragraph 125 of paragraph 1. 4 (b). (c)), the words "or (d))" shall be deleted.



150. section 126 including the title reads as follows:



"§ 126



Administrative offenses electronic money institutions and publishers

small-scale electronic money



(1) an electronic money institution has committed misconduct by



and notifies the data change) according to § 48 para. 3 or 4,



b) contrary to section 50 shall not issue funds to the holders or

users,



c) fails to comply with any of the requirements of capital pursuant to § 52a,



d) breach of an obligation relating to the management and control system under section

52c,



e) contrary to section 52 h of paragraph 1. be issued by the electronic money through

any other person in the issuance of electronic money, acting on behalf of



f) provides payment services through a commercial agent, which

does not meet the conditions laid down in § 52 h of paragraph 1. 2,



g) fails to comply with the obligation of notification according to § 52 h of paragraph 1. 3 or § 52j para. 1,



h) entrusts significant performance operational activities relating to the issuance of

electronic money or to provide payment services to another person in

contrary to section 52j para. 2, or



I) fails to comply with the obligation of notification according to § 52 para. 1.



(2) the Issuer of electronic money small scale is committed by the administrative

tort by



and issuing electronic money) or provides payment services that are

apply to electronic money in violation of § 53 para. 2,



(b)) provides payment services that do not apply to electronic money in

violation of § 53 para. 3,



(c) to notify the change data by) section 56,



d) contrary to section 58 shall not issue funds to the holders or

users, or



e) contrary to section 59 paragraph 1. 2 will provide the user interest or other benefit

dependent on the length of time that the funds entrusted to him to

execution of a payment transaction.



(3) an electronic money institution or publisher of electronic money

small scale is committed by the administrative offense by



and fails to comply with any of the requirements) of the funds, the

the adoption of electronic money have been issued or entrusted to them to

execution of the payment transaction under section 52e,



(b) fails to comply with information requirements) under section 52k, or



(c)) does not retain the documents or records under section 52 l.



(4) an administrative offense shall be fined in the



and $ 10 000 000), in the case of an administrative offence referred to in paragraph 2 (a). (c))

or (e) or paragraph 3 (b)). b) or c)



(b) 20 000 000 Czk), in the case of an administrative offence referred to in paragraph 1 (b). a), (c))

to (i)),



(c)) $ 50 000 000 in the case of an administrative offence referred to in paragraph 1 (b). (b)),

paragraph 2 (a). a), b) or (d) or paragraph 3 (b)). a).“.



151. section 127, including the title shall be deleted.



152. § 129 including title:



"§ 129



Administrative offenses of the operator and participant of the payment system with

finality of settlement



(1) the operator of a payment system with the finality of settlement is

committing an administrative offense, by



and) contrary to section 67 para. 1 publish a rule change the system without

the consent of the Czech National Bank,



(b) fails to notify the change to the data) pursuant to § 72 para. 3, or



(c) fails to comply with information requirements) under section 73b paragraph 1(a). 1.



(2) the operator of a payment system with the finality of settlement is

based in the Czech Republic has committed the administrative offence by



and with the payment system) operates the finality of settlement in breach of

§ 70 para. 2,



(b) fails to comply with the notification requirement) section 73a, or



(c) fails to comply with information requirements) under section 73b paragraph 1(a). 3.



(3) the participant payment system with the finality of settlement commits

the administrative offense by breach of information duties under section 73b paragraph 1(a).

2 or § 73 c.



(4) the participant of foreign payment system with the finality of

clearing is guilty of an administrative offense by information breaches

the obligation under § 73d.



(5) an administrative offense shall be fined in the



and $ 10 000 000), in the case of an administrative offence referred to in paragraph 1 (b). (c)),

paragraph 2, 3 or 4,



(b) 20 000 000 Czk), in the case of an administrative offence referred to in paragraph 1 (b). and)

or (b)). ".



153. In article 130, paragraph 1 reads:



"(1) the provider is guilty of an administrative offense by consistently



and) violates the obligation under section 79, 80, 88, § 92 para. 3, §

93, or § 94 paragraph. 2,



(b)) violates the obligations relating to the changes to the framework of the contract pursuant to § 94

paragraph. 1 or 5,



c) speaks volumes of a framework contract concluded for an indefinite period in violation of §

96,



d) blocks the payment instruments in violation of § 100,



e) violates the obligations relating to the refusal of a payment order under section

paragraph 105. 1 or 2,



(f) does not comply with the time limits for implementation) payment transactions under section 109 to

113, or



g) contrary to section 114 para. 3 does not make funds available

recipient. ".



154. In paragraph 130 paragraph 1. 2 the words "does not provide or make available to the payer

information pursuant to § 86 para. 1, 89 or 91 "shall be replaced by the words" violates the

information obligations pursuant to § 86 para. 1, § 89 or 90 ".



155. In paragraph 130 paragraph 1. 3 the words "does not provide or make available to the recipient

information pursuant to § 87 para. 1 "shall be replaced by the words" breach information

obligations pursuant to § 87 para. 1 or section 91 ".



156. In paragraph 130 paragraph 1. 4, the words "Publisher payment instrument"

replaced by the words "the provider which issues means of payment," and

the words "violates any of the obligations" shall be replaced by the words "violates the

the obligations ".



157. In paragraph 130 paragraph 1. 5, the words "reduction" is replaced by "done

collision ".



158. In the title of § 131, the words "electronic money" shall be deleted.



159. In paragraph 131, paragraph 1 reads:



"(1) the Publisher committing an administrative offense, by



and issuing electronic money) contrary to section 124 para. 2,



(b)) provides the holder of the interest or other benefits contrary to section 124 para. 3,



(c)) does not make a redemption under section 124a of paragraph 1. 2 or 3, or



d) violates the obligations under section 124b of paragraph 1. 1. ".



160. In § 132 paragraph. 1 (b). and provide) the words "payment service, or

issues a "are replaced by the words" provides payment services or issues "and the word

"or" is deleted.



161. In § 132 paragraph. 1 (b). (b)), the word "indicates" shall be replaced by

"conceal".



162. In section 132, the dot at the end of paragraph 1 shall be replaced by "or", and

the following point (c)), which read as follows:



"c) fails to comply with the obligation of notification according to § 51 para. 1. ".



163. In article 132, paragraph 1, the following paragraph 2 is added:



"(2) a legal or natural person conducting business under the supervision of the United

the National Bank has committed the administrative offence by



and) fails to provide the Czech National Bank supervisory information needed

or the explanation under section 135a of paragraph 1. 3, or



(b)) does not perform within the period prescribed some of the corrective measures under section

135d paragraph 1. 1 (b). (b)) to (i)). ".



The former paragraph 2 becomes paragraph 3.



164. In § 132 paragraph. 3 of the introductory part of the provisions, the words "referred to in paragraph

1 "shall be deleted.



165. In § 132 paragraph. 3 the following letter a), which reads as follows:



"and $ 10 000 000), in the case of an administrative offence referred to in paragraph 1 (b). c),“.



Subparagraph a) and b) shall become point (b)), and (c)).



166. In § 132 paragraph. 3 (b). (b)), the words "(a), (b))" shall be replaced by

"paragraph 1 (b). (b)), or to paragraph 2 ".



167. In § 132 paragraph. 3 (b). (c)), the words "(a))" shall be replaced by

"paragraph 1 (b). and) ".



168. In § 133 paragraph 2. 1 introductory part of the provisions, the words "in the


Community ^ 2) "is replaced by" in the European Union ^ 2) ".



169. In § 134 para. 1 (b). and provide) the words "payment service, or

issues a "are replaced by the words" provides payment services or issues "and the word

"or" is deleted.



170. In paragraph 134, the dot at the end of paragraph 1 shall be replaced by "or", and

the following point (c)), which read as follows:



"c) fails to comply with the obligation of notification according to § 33 para. 1. ".



171. In § 134 para. 2, the following new subparagraph (a)), which read as follows:



"and $ 5 000 000), if the offence referred to in subparagraph (c))".



Subparagraph a) and b) shall become point (b)), and (c)).



172. In paragraph 135 para. 4, the second sentence shall be deleted.



173. As part of the fifth part six shall be inserted, which including the title reads as follows:



"PART SIX



SUPERVISION



section 135a



(1) the Czech National Bank shall exercise supervision over the compliance with the obligations



and payment institutions) the payment service provider of a minor nature,

electronic money institutions, and the Publisher of a small electronic money

extent provided for in this Act or other legislation

governing the procedure for the exercise of activities, that these persons are entitled to

may exercise under this Act,



(b) the operator's payment system with) the finality of settlement is

based in the Czech Republic and a participant of the payment system with

finality of settlement provided for in this Act or other legal

Regulation governing the procedure for the operation of the payment system with

finality of settlement and



c) provider and Publisher established by this Act or similar

the provisions of the legislation of other Member States, the Governing

the legal relationship of the payment service contract or the contract of Edition

electronic money, or directly applicable European Union law

governing the cross-border payments in the EU ^ 2).



(2) supervision over compliance with the obligations referred to in paragraph 1 (b). (c))

the Czech National Bank carries out if relate to the activities, which

provider or Publisher with headquarters or place of business in



and the Czech Republic) performs in the Czech Republic,



(b)) in the Czech Republic shall be exercised by foreign countries through a branch or in the

the other permanent presence, or



(c)) the Czech Republic is exercised in a Member State other than

through a branch or otherwise than in the context of other permanent presence.



(3) a person under the supervision of the Czech National Bank are required to

to provide the Czech National Bank in exercising supervision required information

and the necessary explanations; This applies to the operators of the payment

system with the finality of settlement established in another Member State

When considering the fulfilment of the conditions of performance of its operations.



§ 135b



(1) for the duty of confidentiality in the exercise of supervision pursuant to this Act

shall apply mutatis mutandis to the provisions of the law governing the activity of the bank

obligations of confidentiality in the performance of banking supervision.



(2) the Czech National Bank cooperates with the authorities of other Member States

supervising persons authorized to provide payment

service or to issue electronic money, with central banks of other

Member States, where appropriate, with the European Central Bank.



(3) the Czech National Bank passes the authorities of other Member States

executing the supervision of foreign credit institutions or

foreign electronic money institutions all significant

information, in particular information about the fact that a person under the supervision of the

authorities had infringed the obligation relating to the exercise of activities which are

the person entitled to exercise under this Act.



section 135 c



Check on the spot



(1) the Czech National Bank may undertake on-site inspection in person

subject to its supervision, with its sales representative or for other

of the person through which the person carries out the operational activities of

relating to the activities, that it is entitled to exercise under this

the law.



(2) the Czech National Bank in another Member State may carry out checks on the

place for persons subject to its supervision, with its sales representative

or for another person, through which the person carries out operational

activities related to the activities that it is entitled to exercise pursuant to

This law, if it shall notify the supervisory authority of that other

of a Member State. At the request of the Czech National Bank can control the

the place also this supervisory authority of another Member State.



(3) the supervisory authority of another Member State may perform in the Czech Republic

monitoring in place for persons subject to its supervision, for its business

representative or other persons through which the person carries on

the operational activities related to the activities that it is entitled to

may exercise under this Act, if it notifies the Czech National Bank.

At the request of the supervisory authority of another Member State can monitor

ground the Czech National Bank.



(4) in the case of the person who is reasonably suspected that illegally provides payment

services or e-money, issued by the Czech national

the Bank shall carry out checks on the spot, to the extent that is necessary to

establish the facts concerning the actions that this suspect

is based.



§ 135d



Measures to remedy the



(1) If a person subject to supervision by the Czech National Bank breach

the obligation laid down by this Act or other legislation

governing the procedure for the exercise of activities which is this person authorised to

may exercise under this Act, the Czech National Bank according to the nature of the

the observed lack of save that person to



and within the prescribed period) jumped into the axle,



(b)) did not perform the activities that it is entitled to exercise under this

Act, or some of them, as long as they do not redress,



(c)) at its own expense make an extraordinary audit



(d) replaced its auditor) are subject to the conditions for unilateral

termination of the contract of statutory audit under the Act

relating to the Auditors,



e) replaced its leading person



f) did not perform the activities that it is entitled to exercise under this

law, through a commercial agent,



g) did not perform the activities that it is entitled to exercise under this

law, through a branch in the host Member State,



h) limited the performance of some operational activities relating to the

activities, that it is entitled to exercise under this Act,

through another person, or that these activities through other

the person did not perform, or



I) handling of funds, entrusted to implementation

the payment transaction or the receipt issued electronic

the money, the only manner.



(2) measures to remedy pursuant to paragraph 1. f) or (g)), the Czech

National Bank save a payment institution or to the institution of electronic

money even if it has reasonable grounds to suspect that, in connection with the

the performance of the activities that these persons are entitled to exercise pursuant to

This Act, through a branch or sales representative in

the host Member State may increase the risk of legalization

the proceeds of crime or financing of terrorism.



(3) a person under the supervision of the Czech National Bank, the Czech national

the Bank imposed a remedy pursuant to paragraph 1, it shall inform the Czech

National Bank without undue delay to correct the deficiency and

How to rectify the situation.



section 135e



Accept input



Acceptance by the Czech National Bank proceedings ex officio ^ 7)

in the matter of a violation of the obligations of the provider or Publisher specified

This Act or similar provisions of the legislation of another

the Member State which govern the legal relationship of the Treaty on the payment

services, or from the Treaty on the issue of electronic money, or directly

the applicable law of the European Union governing the cross-border payments in

The European Union ^ 2), responds to him within 60 days from the date when the complaint was

even if the person who filed the complaint, did not apply. If appropriate,

account, inform the Czech National Bank at the same time about the possibility of

out-of-court settlement of disputes between or among users and providers of

the holder and issuer under other legislation ^ 8).



section 135f



Fine won



(1) the Czech National Bank may, in the exercise of supervision pursuant to this Act for

conditions laid down in the administrative regulations, or the law governing the performance of the

State control, impose a fine up to Czk 500 000.



(2) you can save fined repeatedly. The sum of the fines imposed as follows

for the same deed shall not exceed the amount of Eur 2 500 000.



(3) income from fines by the State budget revenue. ".



The existing part six shall be renumbered as part seven.



174. In paragraph 136, the dot at the end of paragraph 1 is replaced by a comma and the following

the letters e) and (f)), which read as follows:



"e) a list of the payment systems with the finality of settlement and



(f)) list of participants of the foreign payment system with the finality of

clearing, who have their head office or place of business in the Czech Republic. ".



175. In § 136 paragraph 2 and 3 shall be added:



"(2) in the lists and registers referred to in paragraph 1 (b). a) to (d)) shall be entered


also information on payment services provide is registered

a person shall be entitled to, and the branch offices, by means of which it is registered

person authorised to provide payment services or supply electronic

money. In the lists and registers referred to in paragraph 1 (b). and) to d)

also written details of the business representatives, through which it is

registered person authorised to provide payment services.



(3) to the list referred to in paragraph 1 (b). (e)) is also written data on the

operators and participants in a payment system with the finality of

the showdown. In the list referred to in paragraph 1 (b). (f)) is written also an indication of

the system operator, which is a registered person to the participant, and on the legal

regulations governing the legal relationship between the participants in that system when you

the implementation of the settlement. ".



176. In § 136 paragraph 3, the following paragraph 4 is added:



"(4) in the lists and registers referred to in paragraph 1 shall be entered at least



and legal persons) in the business name or the name, registered office and identification

number of the person, if any, and



(b) the natural person) in the business name or name and surname, address

place of residence or place of business, and the identification number of the person if

allocated. ".



Paragraphs 4 and 5 shall be renumbered as paragraphs 5 and 6.



177. § 136a-§ 138 and 140, including the headings are deleted.



178. § 142 including title:



"§ 142



A mandate



The Czech National Bank issues a decree in accordance with § 9 para. 3, § 11 (1) 2, section 17

paragraph. 4, § 18 para. 6, section 20 (2). 4, § 23 para. 3, § 26 para. 4, section 27

paragraph. 2, § 29 para. 2, § 37 para. 3, § 39 para. 2, § 47 para. 3, § 48

paragraph. 4, § 52a para. 5, § 33 para. 4, § 52c para. 6, section 52e para. 4, §

52 h of paragraph 1. 4, § 52j para. 4, § 52k para. 3, § 52 para. 2, § 54 para. 3,

§ 56 para. 2, § 71 para. 3, § 72 para. 4 and section 73b paragraph 1(a). 5. ".



179. section 145 reads as follows:



"§ 145



(1) to 1. January 2012, a payer and his can provider agree

the deadline of 2 working days longer than the period provided for in § 109 paragraph. 1,

in the case of the payment transaction in the currency of the euro; § 109 paragraph. 3 (b). and)

This is not affected.



(2) to 1. January 2012 § 109 paragraph. 2 Accordingly, if it is about

the payment transaction in the Czech currency, which is carried out exclusively in the territory of

The United States and includes a currency conversion between the Czech currency and the euro currency.



(3) in the case of a payment transaction, which is given by the paper payment

command, the period referred to in paragraph 1, on the next working day. ".



Article. (II)



Transitional provisions



1. electronic money institutions or foreign institutions

of electronic money, which was at the date of entry into force of this Act

authorised to issue electronic money in accordance with the existing laws,

regulations, the date of entry into force of this Act, to 30. October 2011

issuing of electronic money based on their authorization to

the activities of electronic money institutions. In doing so, it shall follow the

the existing legislation; This is without prejudice to point 5.



2. the Issuer of electronic money is small, which was, at the date

entry into force of this Act shall be entitled to issue electronic money

According to the existing legislation, the date of entry into force of

This Act 30. April 2012 to issue electronic money on the basis of

their previous registration of the Publisher of a small electronic money

the range. In doing so, it shall follow the existing legislation; section 5

This is not affected.



3. the application for authorisation to the activities of electronic money institutions from the

before the date of entry into force of this law, which has not been decided to

the effective date of this Act, the date of entry into force of this

the law considers the application for a permit for the operation of the institution

electronic money pursuant to section 47 of Act No. 284/2009 Coll. on the payment

contact, in the version in force from the date of entry into force of this Act; section 4

This is not affected. Application for entry in the registry of issuers of electronic

money from the small scale before the date of entry into force of this Act,

that was not decided until the date of entry into force of this Act,

the effective date of this Act shall be deemed to be an application for entry in the

the registry of issuers of electronic money is small according to § 54

Act No. 284/2009 Coll., on the system of payments, in the version in force from the date of

entry into force of this Act.



4. the application for authorisation to the activities of electronic money institutions from the

before the date of entry into force of this Act shall be considered a request for

enabling the business of electronic money institutions, pursuant to section 47 of law No.

284/2009 Coll., on the system of payments, in the version in force from the date of acquisition

of this Act, if the applicant before issuing a decision on the

This application requests it. The legal effect of the decision on grant of authorisation to

the activities of the electronic money issued by the institution on the basis of this request, the

will occur soon as the effective date of this Act.



5. The legal relationship between the issuer and the holder of the electronic money

electronic money is the effective date of this Act, be governed by the

by law no 284/2009 Coll., on the system of payments, in the version in force from the date of

entry into force of this Act, even if it arose prior to the date of application

the effectiveness of this Act. The emergence of these relations, as well as

individual claims, which of these legal relations arose before the date

entry into force of this Act, shall, however, be assessed in accordance with the existing

legislation.



6. Authorisation for the operation of the payment system with the finality of

clearance granted in accordance with the existing legislation on the acquisition of

the effectiveness of this Act be deemed to permit the operation of a payment

system with the finality of settlement pursuant to section 71 of the Act No. 284/2009 Coll.,

on payment systems in the version in force from the date of entry into force of this

the law. The operator of a payment system with the finality of settlement on the

the basis of an authorisation granted in accordance with the existing legislation, a day

entry into force of this Act, be deemed payment provider

system with the finality of settlement pursuant to section 70 of Act No. 284/2009 Coll.,

on payment systems in the version in force from the date of entry into force of this

the law.



7. the operator of a payment system with the finality of settlement on the

the basis of an authorisation granted in accordance with the existing legislation shall indicate the

their ratios in accordance with part three of the law no 284/2009 Coll. on the payment

contact, in the version in force from the date of entry into force of this Act,

not later than 3 months from the date of entry into force of this Act. Until that

the period of activity set out in adheres to the rules of section 65 of Act No. 284/2009

Coll. on the payment system, in the version in force from the date of entry into force of

This law, mutatis mutandis.



8. Payment System with the finality of settlement operated on the basis of

the authorisation granted in accordance with the existing legislation on the acquisition of

the effectiveness of this Act be deemed payment system with the finality of

clearing pursuant to section 62 of Act No. 284/2009 Coll., on payment systems in the

the version in force from the date of entry into force of this Act.



9. an application for authorization to operate a payment system with

finality of settlement made before the date of entry into force of this

the law, which was not decided until the date of entry into force of this

the law, the effective date of this Act, the application shall be

authorisation for the operation of the payment system with the finality of settlement

pursuant to section 71 of the Act No. 284/2009 Coll., on the system of payments, in the version in force

from the date of entry into force of this Act.



10. Legal relationships arising in connection with the operation of the payment

system with the finality of settlement or the participation in it is the date of application

the effectiveness of this law governed by Act No. 284/2009 Coll. on the payment

contact, in the version in force from the date of entry into force of this Act, even if the

arose prior to the effective date of this Act. The emergence of these

legal relations, as well as claims arising from them before the day of acquisition

the effectiveness of this law, shall, however, be assessed in accordance with the existing laws,

regulations.



Article. (III)



The publication of the full text of the Act



The Prime Minister shall be empowered, in the collection of laws promulgated the full text

Act No. 284/2009 Coll., on payments, as derived from the laws of the

changing.



PART TWO



Amendment of the Act on capital market



Article. (IV)



Act No. 256/2004 Coll., on the capital market, as amended by law

No 635/2004 Coll., Act No. 179/2005 Coll., Act No. 377/2005 Coll., Act

No 56/2006 Coll., Act No. 57/2006 Coll., Act No. 62/2006 Coll., Act No.

70/2006 Coll., Act No. 159/2006 Coll., Act No. 120/2007 Coll., Act No.

296/2007 Coll., Act No. 29/2008 Coll., Act No. 104/2008 Coll., Act No.

126/2008 Coll., Act No. 216/2008 Coll., Act No. 230/2008 Coll., Act No.

7/2009 Coll., Act No. 223/2009 Coll., Act No. 227/2009 Coll., Act No.

230/2009 Coll., Act No. 281/2009 Coll., Act No. 420/2009 Coll., Act No.

156/2010 Coll., Act No. 160/2010 Coll., Act No. 409/2010 Coll. and act

No. 41/2006, is amended as follows:



1. in footnote 1 at the end of a second separate line

the words ", as amended by the directive of the European Parliament and of the Council

2009/44/EC '.



2. At the end of footnote 1, the following shall be added to a separate line

the words "European Parliament and Council Directive 2009/44/EC of 6 May 1999.


May 2009 amending Directive 98/26/EC of finality

in payment systems and settlement systems

Securities and Directive 2002/47/EC on financial collateral agreements,

as regards linked systems and credit claims. ".



3. In Article 2a, paragraph 2. 1 (b). a), the words "and electronic money institutions"

shall be deleted.



4. In section 8, section 124 para. 5, and in section 126 paragraph. 5, the words ' the institution of the

electronic money ' shall be deleted.



5. In section 10 d of paragraph 1. 3 (b). (b)), the words "institutions, electronic

money, ' shall be deleted.



6. Part seven including title and footnotes # 30 and 31:



"PART SEVEN



SECURITIES SETTLEMENT SYSTEM WITH THE FINALITY OF SETTLEMENT



TITLE I OF THE



BASIC PROVISIONS



§ 82



Securities settlement system with the finality of settlement



(1) the securities settlement system with the finality of settlement is a system



and) that has at least 3 participants referred to in § 84 paragraph. 1 (b). a) to (g)),



(b)) that performs the settlement [section 83 (a))] on the basis of specified

the rules,



(c)), whose participants at least one of which has its registered office or Central Administration in the United

Republic, agreed that the legal relationship between them in the implementation of

the settlement governed by Czech law, and



(d)) whose existence of the Czech National Bank has announced the European Commission pursuant to §

90 g of paragraph 1. 1 or 2.



(2) the Foreign securities settlement system with the finality of settlement is the

securities settlement system, whose existence the European Commission announced

authority of another Member State under the legislation of the European Union relating to the

finality of settlement systems ssss

papers ^ 30).



(3) the securities settlement system with the finality of settlement and participation in this

the system is based in the Treaty.



section 83



The definition of some terms



For the purposes of this Act, means the



and) settlement



1. set-offs of investment instruments,

or



2. compliance with the mutual debt of the investment instruments transfer shops

investment instruments or funds,



(b)) by the settlement instruction by a participant with a securities settlement system

finality of settlement or entrant's or system operator

linked under section 89, based on which it is to be in accordance with the rules

the securities settlement system with the finality of settlement (hereinafter referred to as "the rules of the

system ") carried out the settlement,



(c)) a central counterparty, the person who enters the settlement between

the participants of a securities settlement system with the finality of settlement referred to in

§ 84 paragraph. 1 (b). a) to (g)), or m) as their exclusive counterparty,



d) settlement agent, the person who leads to the participants of a securities settlement system with

finality of settlement referred to in § 84 paragraph. 1 (b). a) to (g)), and)

or m) account, on which the settlement,



e) collateral person who performs settlement netting set

the mutual claims of the participants with the finality of a securities settlement system

the settlement referred to in § 84 paragraph. 1 (b). a) to (g)), i), (j)) or m),



(f) the operating rules of the system date) set out, regularly recurring

the period during which securities settlement system with the finality of settlement accepts

and carries out the commands to the settlement and other tasks with this settlement

related.



§ 84



Participant of the securities settlement system with the finality of settlement



(1) a participant in the securities settlement system with the finality of settlement may

only be



and) the Bank,



(b)), savings and credit cooperative,



c) a securities dealer,



(d)) a foreign person, whose business corresponds to the activity of some

of the persons referred to in points (a) to (c)))



e) a legal person under public law or a legal person, the

all the obligations of the person is guaranteed by public law,



(f)), Czech National Bank, foreign central bank or the European

the Central Bank,



g) a legal person with a special status, which is excluded from the

the scope of the regulation the European Union governing access to the activity

credit institutions and its performance ^ 31),



(h) the operator of a securities settlement system) with the finality of settlement (section

90),



I) a central counterparty



j) a settlement agent,



k) clearing house,



l) a person who performs similar activities as one of the persons referred to

in subparagraphs (h)) to) in a payment system with the finality of settlement,

in the foreign securities settlement system with the finality of settlement or in

foreign payment system with the finality of settlement, or



m) a person not listed in points (a) to (l))), that it is appropriate in light of

on the degree of systemic risk arising from the scope of its activities.



(2) the activities of a central counterparty, settlement agent or clearing house

institutions can be carried out by several participants in the securities settlement system

with the finality of settlement.



TITLE II



OPERATING A SECURITIES SETTLEMENT SYSTEM WITH THE FINALITY OF SETTLEMENT



Rules of the system



§ 85



(1) the operator of a securities settlement system with the finality of settlement

lays down the rules of the system.



(2) the rules governing the system of at least



and the business name or name), registered office and identification number, if

granted, the operator of a securities settlement system with the finality of

settlement,



(b) conditions for participation in a securities settlement) system with the finality of

the settlement, which must be transparent and must include the objective

the criteria for access to the system with the finality of settlement

the settlement; the person with a registered office or place of business in another Member

State of the European Union must not be a disadvantage of other than economic

reasons,



(c) the rights and obligations of the parties) the securities settlement system with the finality of

the settlement resulting from their participation in this system,



(d)) the manner and the detention conditions of the obligations arising from participation in

securities settlement system with the finality of settlement,



(e) the manner and terms of the settlement), including the establishment of a procedure for repair

errors arising during the settlement,



(f)) the details of the settlement, how to order and the conditions of its entry into

the securities settlement system with the finality of settlement,



g) information that the participant with the finality of a securities settlement system

the settlement provides the operator of a securities settlement system with

the finality of settlement for the performance of its duties, and the way they

the provision,



h) measures that the operator of a securities settlement system with can

finality of settlement of a claim against a participant in the settlement

system with the finality of settlement, and the procedure for their implementation,



I) a timetable for the implementation of the settlement, including the schedule of individual

the stages in which the settlement takes place,



j) definition of the operating day,



to) the time that the order for the settlement be considered adopted

securities settlement system with the finality of settlement,



l) the time that the order for the settlement entered into settlement

system with the finality of settlement considered unilaterally

irrevocable, and the technical conditions for the security of its

finality,



m) investment tools and the currency in which the settlement is carried out and



n) access rules to the risks, which include at least



1. the risks to which the securities settlement system with the finality of settlement is the

or may be exposed, including systemic risk, operational risk,

liquidity risk and credit risk,



2. the procedures of recognition, evaluation, measurement, monitoring and reporting

risks and



3. the procedures for the adoption of measures to reduce risks, including

the determination of the appropriate conditions for participation in a securities settlement system

finality of settlement.



§ 86



(1) the operator of a securities settlement system and the other participants with

finality of settlement shall comply with the rules of the system.



(2) the rules of the system, as amended shall be published in the manner

allowing remote access and must be open to inspection by the public at the registered office

the operator of a securities settlement system with the finality of settlement in its

Office hours. If the operator of a securities settlement system with

finality of settlement will establish a place of business shall be rules of the system

for consultation by the public in this establishment.



§ 87



Changing the rules of the system



(1) change the rules of the system becomes effective at the moment of publication,

unless otherwise provided by the operator of a securities settlement system with the finality of

a moment later the settlement efficiency. Change the rules of the system cannot be

publish, as long as the Czech National Bank has given its approval to the change.



(2) a participant in the procedure for granting consent to change the rules of the system is

only the operator of a securities settlement system with the finality of settlement.

Unless the Czech National Bank decision on the request for consent

to change the rules of the system within one month from the date of receipt of the application,

rule, that consent has been granted.



The finality of the order for the settlement



§ 88



(1) from the date provided for in the rules of the system cannot command to

the settlement unilaterally revoke.



(2) the bankruptcy decision or decision or other action of a public

can be introduced to stop or limit settlement, to the exclusion or


restrictions on the use of financial instruments or funds to

the account to which the settlement, or the exclusion or limitation of

exercising the right to satisfaction of the secure do not affect the



and, effectiveness) the validity or enforceability of the settlement if the

This statement was adopted by the settlement system with the finality of

settlement prior to the release of this decision or before performing this

intervention,



(b)) the ability to use tools or investment funds on account

participant in the securities settlement system with the finality of settlement, on which

settlement is carried out, to the fulfilment of the obligations incurred in the

securities settlement system with the finality of settlement or in the system

linked under section 89, if an investment instrument or cash

resources are used during the operating day during which

There was a release of this decision, or for the implementation of this intervention, and



(c)), the effectiveness or enforceability of the right to the satisfaction of securing

provided by the participant or the operator of a securities settlement system with

finality of settlement or a linked system, pursuant to section 89.



(3) to exclude the effects of the bankruptcy decision or decision or other

intervention by the public authority referred to in paragraph 2 (a). and) occurs even if,

that was the order for the settlement received a securities settlement system with

finality of settlement after the release of this decision or after

implementation of this intervention, if



and) settlement is carried out during the operational day, during which there has been

to the date of this decision or to implement this intervention, and



(b) the operator of a securities settlement system) with the finality of settlement

It was not, at the time when the order for the settlement became irrevocable by

paragraph 1, the date of this decision or the implementation of this intervention

notified and was not otherwise be known; the fact that the

the bankruptcy decision was published in the insolvency register itself

each other does not mean that this decision was the operator of a securities settlement

system with the finality of settlement known or should be known.



(4) the bankruptcy decision or decision or other action of a public

power referred to in paragraph 2 does not have retroactive effects on the rights and obligations that

in the securities settlement system with the finality of settlement or in

the system of interconnected according to § 89 before the release of this decision or before

You can perform this action.



System link



§ 89



(1) if the operator of a securities settlement system with the finality of

the settlement of treaty system link with another operator

with the finality of settlement of a securities settlement system, payment system

with the finality of settlement, the foreign securities settlement system with

finality of settlement or the foreign payment system

finality of settlement allowing the mutual execution of commands to

the settlement will not constitute the new settlement system with the finality of

the settlement.



(2) if possible, the operator of a securities settlement system with

finality of settlement shall ensure that the rules of the system and rules

a linked system referred to in paragraph 1 was coordinated as regards

moment to which the order for the settlement considered unilaterally

irrevocable, and the instant, to which such an order it considers

adopted by the system. Unless otherwise agreed by the parties in the contract referred to in paragraph 1

otherwise, the rules of connected systems when it comes to these moments,

independently of each other.



TITLE III



THE OPERATOR OF A SECURITIES SETTLEMENT SYSTEM WITH THE FINALITY OF SETTLEMENT



§ 90



(1) the operator of a securities settlement system with the finality of settlement is the

a legal entity that is authorized to operate a settlement system with

finality of settlement on the basis of a permit to operate a

the securities settlement system with the finality of settlement, which awarded her the

The Czech National Bank.



(2) the operator of a securities settlement system with the finality of settlement

It may also, if it is stated in the permit to operate securities settlement

system with the finality of settlement and to provide for their participants

investment service as referred to in section 4, paragraph 4. 3 (b). and).



(3) the operator of a securities settlement system with the finality of settlement is the

required to operate a settlement system with the finality of settlement with

professional care.



(4) funds or investment vehicles that have been

the operator of a securities settlement system with the finality of settlement

entrusted to the administration or as collateral security arising from the

vypořádávaného trade in investment instruments, are not included in the assets of

the operator of a securities settlement system. The operator of a securities settlement system

charges on property of third parties, that is in their power, separate from their

asset.



Permit to operate a settlement system with the finality of

settlement



§ 90a



(1) the Czech National Bank will grant a permit to operate securities settlement

system with the finality of settlement to the applicant,



and) which is a joint-stock companies or limited liability companies,



(b)) which has its registered office and head office within the territory of the Czech Republic,



(c)) that has an initial capital of at least the amount corresponding to the amount of 730

000 EUR,



(d)) whose initial capital has a transparent and safe origins,



(e)) which shall submit a business plan based on real

economic calculations,



f) whose substantive, technical, personnel and organizational preconditions are

appropriate in terms of the sound and prudent operation of securities settlement

system with the finality of settlement,



g) whose inherent in any business activities other than in

operating a securities settlement system with the finality of settlement

It does not represent a significant threat to the financial stability of the operator

the securities settlement system with the finality of settlement or cannot defend

the effective exercise of supervision over the activities of the operator of a securities settlement system

with the finality of settlement,



h) which have a qualifying holding the person in terms of proper and suitable

prudent management of the operator of a securities settlement system with

finality of settlement,



I) whose close links with another person do not prevent the effective exercise of supervision

over the activities of the operator of a securities settlement system with the finality of

the settlement; When the close links with the party, which is governed by the laws of the

State which is not a Member State, not the legal order or the way

its application to hamper effective supervision over the activities of

the operator of a securities settlement system with the finality of settlement,



j) whose leaders are trusted,



to the Manager of the person) that actually controls the activities in the area

operating a securities settlement system with the finality of settlement, are

competent and have sufficient experience in terms of sound and

prudent operation of a securities settlement system with the finality of

settlement and



l) by system rules that are appropriate in terms of

the sound and prudent operation of a securities settlement system with

finality of settlement and in terms of systemic risk.



(2) the Czech National Bank will grant a permit to operate securities settlement

system with the finality of settlement and an applicant who



a) is a legal entity,



(b)) has its registered office and head office in another Member State of the European Union,



(c)) is authorized to operate a settlement system with system similar

finality of settlement, in which the legal relations between the parties to the

in the implementation of the settlement system governed by the law of another Member State

The European Union, and



(d) the rules of the system) that are appropriate in terms of sound and

prudent operation of a securities settlement system, with the finality of

settlement and systemic risk.



(3) an application for authorization to operate a settlement system with

finality of settlement can be made only on the prescribed form,

to which the applicant shall be accompanied by documents certifying that the conditions

referred to in paragraph 1 or 2. The pattern of the form and the content of its annexes

down detailed legislation.



section 90b



(1) on the application for authorization to operate a settlement system with

finality of settlement of the Czech National Bank will decide within 6 months

from the date of its delivery.



(2) the decision to grant a permit to operate a settlement system

with the finality of settlement rules shall be approved by the Czech National Bank

the system.



(3) the decision to grant a permit to operate a settlement system

with the finality of settlement of the Czech National Bank may provide

the conditions that must be met before a securities settlement system

the start of the activity, or to comply with in the performance of its activities.



(4) the operator of a securities settlement system with the finality of settlement

shall, without undue delay, the Czech National Bank change of information contained

in the application for authorization to operate a settlement system with

finality of settlement or its annexes on the basis of

It was an authorization to operate is granted.



TITLE IV



INFORMATION OBLIGATIONS OF THE OPERATOR AND THE SUBSCRIBER WITH A SECURITIES SETTLEMENT SYSTEM


FINALITY OF SETTLEMENT



§ 90c



(1) the operator of a securities settlement system with the finality of settlement

the Czech National Bank shall inform without delay the



and company or business name) or the name and surname of the participant

the securities settlement system with the finality of settlement, their headquarters,

place of business or residence, their identification number, if

and in the case of natural persons, their date of birth and hometown

number, if assigned, and about the change of these data and



(b)) of the draft decision on its liquidation or without liquidation

or a change in its business; just inform the adoption of

such a decision by the competent authority of the operator of a securities settlement

system with the finality of settlement.



(2) the securities settlement system with the finality of settlement without

undue delay informs the operator of a securities settlement system with

finality of settlement about the information in the scope of paragraph 1 (b). and).



(3) the operator of a securities settlement system with the finality of settlement

It shall forthwith inform the participants of a securities settlement system with the finality of

the settlement and the operator of a linked under section 89 of the notification

pursuant to § 90 g of paragraph 1. 4.



(4) the operator of a securities settlement system with the finality of settlement

be sent to the Czech National Bank information and documents necessary for the performance of

supervision of its financial position, the results of the economic and

fulfilment of the conditions of performance of its activities. The deadline for sending information and

documents, details about their content, form and manner of the sending of lays down

the implementing legislation.



(5) the operator of a securities settlement system with the finality of settlement

established in another Member State of the European Union shall, for the purposes

an assessment of the fulfilment of the conditions for the pursuit of its activities to provide the Czech national

Bank information required and necessary explanations.



§ 90 d



Participant of the securities settlement system with the finality of settlement at the request of

informs who about a legitimate interest, the securities settlement system

with the finality of settlement, which involved, and about its rules.



sec. 90e



Participant of the foreign securities settlement system with the finality of

the settlement, which has its registered office or place of business in the territory of the United

Republic,



and, on request, inform them), who on a legitimate concern about this

the system and its rules and



(b)) shall inform without delay the Czech National Bank on its participation in the

This system, a Member State of the European Union, that the existence of this

the system reported to the European Commission about the address of its registered office or place of

business and amending these facts.



TITLE V OF THE



NOTIFICATION OBLIGATION OF THE PUBLIC AUTHORITIES



§ 90f



The obligation of notification to the Court or other public authority



On the issue of the bankruptcy decision or decision or other intervention

a public authority under section 88 para. 2 against the party in a securities settlement

system with the finality of settlement shall notify without undue delay

Court or other public authority, which carried out the action, the Czech national

the pot. Court or other public authority shall inform the Czech National Bank

also in the case if the decision issued or similar interventions carried out

against the party of the foreign securities settlement system with the finality of

the settlement, which has its registered office or place of business in the territory of the United

of the Republic.



§ 90 g



The notification requirements of the Czech National Bank



(1) the Czech National Bank shall, without undue delay, the European Commission

the existence of a securities settlement system with the finality of settlement, which

the operators granted a permit to operate a settlement system with

finality of settlement. The notification shall indicate the Czech National Bank

the operator of a securities settlement system with the finality of settlement.

If there is a change referred to in the notification, it shall inform the Czech

the National Bank shall without undue delay, the European Commission. If it was

permit to operate a settlement system with the finality of

the settlement is withdrawn, the Czech National Bank shall notify to the European Commission's demise

This settlement system with the finality of settlement without

undue delay after the settlement has been completed on the basis of

orders received before the date of the withdrawal.



(2) the Czech National Bank may notify the European Commission of the existence of the system

settlement of trades in securities, which operates according to the law

governing the status and the scope of the Czech National Bank, if this

the system meets the conditions referred to in section 82 para. 1 (b). a) to (c)). In

notification of the Czech National Bank stating that the operator of this

the system. For this system, and for the Czech National Bank in the performance of

the activities of its operators in § 87 para. 1 the second sentence and paragraph. 2, §

90a, 90b, § 90c para. 1 and paragraph 4 shall not apply. The Czech National Bank

the notification under the first sentence appeals without undue delay if the

the system no longer meets the conditions referred to in section 82 para. 1 (b). a), (b))

or (c)).



(3) if the Czech National Bank receives notification pursuant to § 90f, which

refers to a participant of the foreign securities settlement system with the finality of

the settlement, which has its registered office or place of business in the territory of the United

States, it shall notify without delay the competent authority of the Member State

The European Union, which announced the existence of this system to the European Commission.



(4) if the Czech National Bank receives notification pursuant to § 90f or

a similar announcement from the authority of the Member State of the European Union, which refers to

participant in the securities settlement system with the finality of settlement, it shall notify the

immediately to the operator of a securities settlement system with the finality of

the settlement.



30) Article. 10 European Parliament and Council Directive 98/26/EC.



31) Article. 2 of European Parliament and Council Directive 2006/48/EC, as amended by

Commission directives 2007/18/EC and 2010/16/EU ".



7. In § 100 para. 1 (b). (c)), the words ", and it is subject

Similarly, the provisions of § 82 para. 4 to 8, § 83 para. 7 to 14, § 86 to 88 "

replaced by the words "; If the CSD securities settlement system

with the finality of settlement shall be considered the operator's

the securities settlement system with the finality of settlement ".



8. In article 135 paragraph. the letter j) up to l) are added:



"(j) the operator of a securities settlement system) with the finality of settlement (section

90), which has its registered office in the Czech Republic,



to) participant securities settlement system with the finality of settlement (section 84),

that is not the operator of this system,



l) participant of the foreign securities settlement system with the finality of

the settlement, which has its registered office or place of business in the Czech Republic (§

90e) ".



9. In § 138 para. 1, after the word "of", the words "with the

finality of settlement established in the Czech Republic ".



10. In § 138 para. 2, after the word "of", the words "with the

finality of settlement established in the Czech Republic ".



11. In article 145, paragraph 3, the following paragraph 4 is added:



"(4) a person who has been withdrawn permission to operate a securities settlement system

with the finality of settlement, without undue delay, notify the

the participants in the securities settlement system with the finality of settlement.

The completion of the settlement on the basis of the settlement of orders received prior to the

the date of withdrawal of authorization shall continue to be considered as the operator of a securities settlement

system with the finality of settlement. "



Paragraphs 4 to 8 shall be renumbered as paragraphs 5 to 9.



12. in section 158 paragraph 2. 1 (b). (c)), the word "or" is deleted.



13. in paragraph 158, at the end of paragraph 1, the period is replaced by a comma and the following

letters e) to (i)), which read as follows:



"e) violate the organisational requirements under section 48, or any of them,



f) fail to comply with information obligations pursuant to § 50,



g) will not allow the participants of the regulated market to choose another securities settlement system

pursuant to § 51 para. 1,



h) violates the restriction or prohibition of the Czech National Bank pursuant to § 52, or



I) fails to comply with any of the requirements under section 67 or 68. ".



14. section 160, including the title reads as follows:



"§ 160



Administrative offenses of the operator and the Subscriber with a securities settlement system

finality of settlement



(1) the operator of a securities settlement system with the finality of settlement

committing an administrative offense, by



and) contrary to § 87 para. 1 publish a rule change the system without

the consent of the Czech National Bank,



(b) fails to notify the change to the data) in accordance with § 90b para. 4, or



(c) fails to comply with information requirements) according to § 90c para. 1.



(2) the operator of a securities settlement system with the finality of settlement

based in the Czech Republic has committed the administrative offence by



and) operates a securities settlement system with the finality of settlement in breach of

with article 90 paragraph 2. 3,



(b) fails to comply with information requirements) according to § 90c para. 3, or



(c) fails to comply with the notification requirement) section 145 paragraph. 4.



(3) the securities settlement system with the finality of settlement

committing an administrative offense that fails to comply with information requirements under section

90c paragraph 1. 2 or § 90 d.



(4) an administrative offense shall be fined in the



and $ 10 000 000), in the case of an administrative offence referred to in paragraph 1 (b). (c)),

paragraph 2 or 3,



(b) 20 000 000 Czk), in the case of an administrative offence referred to in paragraph 1 (b). and)

or (b)). ".




15. in section 165 paragraph. 2, the words "electronic money institution"

shall be deleted.



16. in § 199 para. 2 the words "§ 83 para. 4, § 85 para. 2, § 87 "

replaced by the words "§ 90a para. 3, § 90c para. 4. "



Article. In



Transitional provisions



1. Authorization to operate granted by the securities settlement system

the existing legislation on the date of acquisition, the effectiveness of this law

considered an authorization to operate a securities settlement system with

finality of settlement pursuant to section 90a of the Act No. 256/2004 Coll., on

the capital market, in the version in force from the date of acquisition

the effectiveness of this Act. The operator of a securities settlement system on the basis of

the authorisation granted in accordance with the existing legislation, with the date of application

the effectiveness of this Act be deemed securities settlement system operator

with the finality of settlement pursuant to section 90 of the Act No. 256/2004 Coll., on

the capital market, in the version in force from the date of acquisition

the effectiveness of this Act.



2. the operator of a securities settlement system on the basis of authorisation granted by the

According to the existing legislation shall indicate their ratios in accordance with part

the seventh Act No. 256/2004 Coll., on the capital market, in

the version in force from the date of entry into force of this Act, not later than 3

months from the date of entry into force of this Act.



3. the securities settlement system operated on the basis of an authorisation granted in accordance with

the existing legislation on the date of acquisition, the effectiveness of this law

considered a securities settlement system with the finality of settlement pursuant to § 82

Act No. 256/2004 Coll., on the capital market, as amended by

effective from the date of entry into force of this Act.



4. an application for authorization to operate a settlement system brought before the

the effective date of this Act, which was not decided until the day

entry into force of this law, shall be the effective date of this Act,

considered a request for a permit to operate a settlement system with

finality of settlement pursuant to section 90a of the Act No. 256/2004 Coll., on

the capital market, in the version in force from the date of acquisition

the effectiveness of this Act.



5. The provisions of the existing legislation governing the legal relations

incurred before the date of entry into force of this Act; the emergence of these

legal relations, as well as claims arising from them before the day of acquisition

the effectiveness of this law, shall, however, be judged according to Act No. 256/2004 Coll.,

on capital market, in the version in force prior to the date of acquisition

the effectiveness of this Act.



PART THREE



To change insolvency law



Article. (VI)



Law No. 182/2006 Coll., on bankruptcy and the ways of its solution (insolvency

Act), as amended by Act No. 309/2006 Coll., Act No. 108/2007 Coll., Act

No 296/2007 Coll., Act No. 362/2007 Coll., Act No. 301/2008 Coll., Act

No 458/2008 Coll., Act No. 7/2009 Coll., Constitutional Court

declared under the No 163/2009 Coll., Act No. 217/2009 Coll., Act No.

228/2009 Coll., Act No. 285/2009 Coll., Constitutional Court

the declared under no. 241/2010 Coll. and Act No. 409/2010 Coll., shall be amended

as follows:



1. In paragraph 2 (a). k), the words ' electronic money institutions ' ^ 1 '), ' including

footnote 1 shall be deleted.



2. In section 35 para. 3, the word "services" the words "or of the holders of

electronic money ".



3. In paragraph 82, the following paragraph 6 is added:



"(6) if the debtor Is the operator or a participant in a payment system with

finality of settlement of foreign payment system

finality of settlement, with the finality of a securities settlement system

settlement or foreign securities settlement system with the finality of

the settlement, the insolvency court for interim measures

referred to in paragraph 3 together with his publication of the insolvency register

The Czech National Bank.



4. In section 102 paragraph. 1 (b). g), the words "referred to in the list of the Czech national

banks under the law governing payment ^ 1), or a participant in the

the securities settlement system under the law governing business in the capital

market ^ 18) "shall be replaced by the words" with the finality of settlement, foreign

payment system with the finality of the clearing settlement system with

finality of settlement or the foreign securities settlement system with

finality of settlement ".



5. In section 113 at the end of paragraph 3 the following sentence "If the debtor

the operator or a participant in a payment system with the finality of

clearing, foreign payment system with the finality of

the clearing settlement system with the finality of settlement or

the foreign securities settlement system with the finality of settlement,

inform the insolvency court for interim measures at the same time with his

publication in the insolvency register of the Czech National Bank.



6. In paragraph 118, the following paragraph 3 is added:



"(3) if the debtor Is the operator or a participant in a payment system with

finality of settlement of foreign payment system

finality of settlement, with the finality of a securities settlement system

settlement or foreign securities settlement system with the finality of

settlement, inform the Court about the moratorium at the same time

the publication of the resolution in the insolvency register of the Czech National Bank.



7. In § 139 paragraph 2. 1 (b). g), the words "referred to in the list of the Czech national

the Bank under a special legal regulation ^ 1), "are replaced by the words" with the

finality of settlement of foreign payment system

finality of settlement, with the finality of a securities settlement system

settlement or foreign securities settlement system with the finality of

settlement, ".



8. In § 139 paragraph 2. 1, letter h) repealed.



The present letter i) is renumbered as paragraph (h)).



9. section 247:



"§ 247



If the debtor is a party to the payment system with the finality of

clearing, foreign payment system with the finality of

the clearing settlement system with the finality of settlement or

the foreign securities settlement system with the finality of settlement,

inform the insolvency court to bankruptcy proceedings at the same time with the publication

resolution in the insolvency register of the Czech National Bank.



10. section 365:



"§ 365



(1) the provisions of this Act do not affect the validity, effectiveness or

the enforceability of obligations of a debtor who is a participant in a payment system

with the finality of settlement or a participant in the foreign payment

system with the finality of settlement, under the conditions laid down by law

the adaptation of the system of payment.



(2) the provisions of this Act do not affect the validity, effectiveness or

the enforceability of obligations of a debtor who is a participant in the settlement

system with the finality of settlement or a participant in the foreign

the securities settlement system with the finality of settlement, under the conditions

laid down by law governing the capital market. "



11. in section 366 para. 1 points and) and (b)) shall be deleted.



Subparagraph (c)) and (d)) shall become letters and) and (b)).



12. in the heading of title IV of part two of the piece: "the decline of the bank,

savings and credit cooperatives and some foreign banks ".



13. in paragraph 367 of paragraph 1. 1 (b). and the comma after the word) "Bank" is replaced by

the word "and" and the words "or electronic money institutions ' ^ 1 '), '

shall be deleted.



14. in paragraph 367 of paragraph 1. 1 (b). (b)), the words "or of the institution of electronic

money ' shall be deleted.



15. In paragraph 367 of paragraph 1. 1, letter c) to (e)) shall be deleted.



Subparagraph (f)) is renumbered as paragraph (c)).



16. in paragraph 367 of paragraph 1. 2 the initial part of the provision, the words "and (d))" shall be deleted.



17. in paragraph 367 of paragraph 1. 3, the word "f)" is replaced by "(c))".



18. In paragraph 367, paragraph 4 shall be deleted.



19. in part two, title IV, part 1, section 2, title: "the decline of the Bank,

savings and credit cooperatives after the withdrawal of the licence or permit and

the decline of the branch of a foreign bank specified in § 367 paragraph. 1 (b). (c)) ".



20. In paragraph 368 paragraph 2. 3, the words "or an electronic money institution"

(f) shall be deleted and the word ")" is replaced by "(c))".



21. in § 370 para. 1 the first sentence, the comma after the word "Bank" is replaced by

the word "or" and the words "or an electronic money institution" shall be deleted.



22. in § 370 para. 2 (a). (d)), the number "374" is replaced by "373".



23. § 370 para. 2, letter e) repealed.



Subparagraph (f)), and (g)) are known as the letters e) and (f)).



24. In paragraph 370, paragraphs 4 to 6 shall be deleted.



Paragraphs 7 to 10 shall be renumbered as paragraphs 4 to 7.



25. In § 370 para. 4, the first sentence is "6" is replaced by "3".



26. in § 370 para. 4, second and third sentences deleted.



27. in paragraph 370, paragraph 5 is added:



"(5) the insolvency court which issued the decision about bankruptcy and Declaration

bankruptcy of a branch of a foreign bank specified in § 367 paragraph. 1

(a). (c)), through the competent supervisory authority or

supervision of such decision, the supervisory authorities or supervision in the Member

States of the European Union and other countries that make up the European economic

the space in which the debtor has an organizational folder before

the publication of the decision in the insolvency register, and if it is not


possible, immediately thereafter; This information includes (i) a warning message on the

the possible consequences of the decision taken. ".



28. in paragraph 373 paragraph. 1, the words ", if it is a bank or savings and

credit cooperative or a branch of a foreign bank under section 367 of paragraph 1. 1

(a). (f)), "be deleted.



29. section 374 is hereby repealed.



30. In § 376 the comma after the word "Bank" shall be replaced by "or", and the words

"electronic money institution or a person with a registered office or place of

business on the territory of the United States authorized to issue electronic

the money on the basis of an authorisation pursuant to special legal regulation "

shall be deleted.



31. in part two, title IV, part 1, section 3: "the decline of

foreign banks doing business in the territory of the Czech Republic on the basis of

single license ".



32. In section 377 the first sentence, the words "or an electronic money institution" and

the words "or in whose territory the registered office or place of business of the person

authorized to issue electronic money on the basis of an authorisation pursuant to

special legal regulation "shall be deleted.



PART FOUR



Amendment of the Act on banks



Article. (VII)



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., Act No. 320/2001 Coll.

Act No. 126/2002 Coll., Act No. 461/2003 Coll., Act No. 256/2004 Coll.,

Act No. 435/2004 Coll., Act No. 377/2005 Coll., Act No. 413/2005 Coll.

Act No 56/2006 Coll., Act No. 57/2006 Coll., Act No. 62/2006 Coll.

Act No. 70/2006 Coll., Act No. 159/2006 Coll., Act No. 189/2006 Coll.

Law No 443/2006 Coll., Act No. 37/2007 Coll., Act No. 120/2007 Coll.

Act No. 296/2007 Coll., Act No. 126/2008 Coll., Act No. 216/2008 Coll.,

Act No. 230/2008 Coll., Act No. 254/2008 Coll., Act No. 433/2008 Coll.,

Act No. 215/2009 Coll., Act No. 227/2009 Coll., Act No. 230/2009 Coll.,

Act No. 285/2009 Coll., Act No. 287/2009 Coll., Act No. 156/2010 Coll.,

Act No. 160/2010 Coll., Act No. 409/2010 Coll. and Act No. 41/2007 Coll.

is amended as follows:



1. In section 20 (2). 5, the words ' electronic money institutions ' shall be deleted.



2. In section 20 (2). 6 (a). (b)), the words "electronic money institutions,"

shall be deleted.



3. in the section 20 c of paragraph 4 is deleted.



The present paragraph 5 shall become paragraph 4.



4. in the section 20 c of paragraph 1. 4 is the numeral "4" is replaced by "3".



5. In section 41f para. 7 the first sentence, the word "or" is replaced by a comma, for

the word "extent" with the words "electronic money institutions or

small e-money issuer, "and after the word

^ "transactions 13)" shall be inserted the words "or against whose adoption were

issued electronic money ".



6. in paragraph 2 of section 41f. 7, the first sentence shall be inserted after the phrase "For the purposes of calculating

compensation from the Fund is the beneficial owner of such funds

consider the payment service users or holders of electronic

money. The refund shall be the payment institution, the payment

small-scale services, electronic money institution or Publisher

small-scale electronic money. ".



7. in paragraph 2 of section 41f. 7 sentence of the fourth, the word "or" is replaced by a comma and

the word "scope" with the words "electronic money institutions

or small-scale electronic money issuer ".



8. in paragraph 2 of section 41f. 7 sentence of last, the words "payment institutions or

the payment service provider of a minor nature are required to "be replaced by

the words "these persons are obliged to".



9. in section 41f, the following paragraph 10 is added:



"(10) a payment institution, the payment service provider of the small

range, electronic money institutions, and the Publisher of the electronic

a small-scale money are required to communicate to the payment service user

or the electronic money holder, at his request, with information

which banks, savings and credit cooperatives, or a foreign bank is

kept in a separate account, on which are in accordance with the law governing the

payments stored funds entrusted to them to

execution of the payment transaction or the receipt issued

electronic money. ".



PART FIVE



Amendment of the Act on savings and credit cooperatives



Article. (VIII)



Act No 87/1995 Coll., on savings and credit cooperatives and some

measures related to it and the law of the Czech National Council

No. 586/1992 Coll., on income taxes, as amended in

amended by Act No. 100/2000 Coll., Act No. 406/2001 Coll., Act No.

212/2002 Coll., Act No. 256/2004 Coll., Act No. 283/2004 Coll., Act No.

377/2005 Coll., Act No. 413/2005 Coll., Act No. 56/2006 Coll., Act No.

57/2006 Coll., Act No. 70/2006 Coll., Act No. 120/2007 Coll., Act No.

296/2007 Coll., Act No. 126/2008 Coll., Act No. 254/2008 Coll., Act No.

230/2009 Coll., Act No. 281/2009 Coll., Act No. 285/2009 Coll., Act No.

156/2010 Coll., Act No. 160/2010 Coll., Act No. 409/2010 Coll. and act

No. 41/2006, is amended as follows:



1. In Article 1a(1). 1 (b). a), the words "and also the person whose activity or

the business consists in the issuance of electronic money, all this "are deleted.



2. In section 2b, paragraph 1. 5, the words ' electronic money institutions ' shall be deleted.



3. In section 2b, paragraph 1. 6 (a). (b)), the words "electronic money institutions,"

shall be deleted.



4. In section 13b, paragraph 4 shall be deleted.



PART SIX



Amendment of the Act on certain measures against the legalization of proceeds of crime

the activities and financing of terrorism



Article. (IX)



Act No. 253/2008 Coll., on certain measures against the legalization of proceeds from

crime and the financing of terrorism, as amended by Act No 227/2009

Coll., Act No. 281/2009 Coll., Act No. 285/2009 Coll. and Act No.

199/2010 Coll., shall be amended as follows:



1. In article 2 (2). 1 (b). and) points 3 and 4 shall be deleted.



2. In article 2 (2). 1 (b). (b) point 5) the word "extent of ^ 3)" is replaced by

"the range, electronic money institutions, and the Publisher of the electronic

a small-scale money ^ 3) ".



3. In paragraph 5 (b). a) after the word "birth," is inserted after the word "further".



4. In § 13 para. 2 (a). and), the word "regular" is deleted.



5. In § 13 para. 2 (c)):



"c) electronic money, if the maximum amount stored electronically

on the media, which cannot be recharged, do not exceed the amount of € 250, or 500 euros

in the case of electronic money that can be used only to perform the

domestic payment transactions, or if the media can be recharged, is for

calendar year set an overall limit of EUR 2 500, with the exception of

in cases where at the request of the holder of the electronic money in the same

calendar year retroactively replaced total amount of EUR 1 000 or more, ".



6. In § 13 para. 2, letter c) the following point (d)), which read as follows:



"(d)) payment services provided through public mobile

the phone networks other than with the use of electronic money, if the value of

each transaction does not exceed EUR 250 and at the same time, for the calendar

year established total limit transactions from one

a telephone number in the amount of EUR 2 500 or ".



Subparagraph (d)) is renumbered as paragraph (e)).



7. in section 21 para. 6, the first sentence is replaced by the phrase "a credit institution,

credit institutions, electronic money institutions, financial institutions

referred to in § 2 (2). 1 (b). (b)) and paragraph 11 required the person referred to in section 2 of the

paragraph. 1 (b). (c)) a system of internal Ministry delivers a policy within 60 days

the date when the person became liable; notifications of changes in system

internal policy delivers to the Ministry within 30 days from the date of their adoption. ".



8. In paragraph 48, paragraphs 1 and 2 shall be added:



"(1) a person who is Required in § 21 para. 2 to

draw up a written system of internal policy, and does not apply to exempt

pursuant to § 21 para. 3 or 4, is committed by the administrative offense by system

internal policy has failed to the extent pursuant to § 21 para. 5 no later than

a period of 60 days from the date on which the person became liable.



(2) a person who is Required in § 21 para. 6 to deliver the

the Ministry or the Czech National Bank's internal policy and notification system

about his changes, committing an administrative offense by a system of internal

policy or a notice of the changes won't be delivered pursuant to § 21 para. 6 or

the absence of the written information on how to correct any identified deficiencies

pursuant to § 21 para. 8. ".



9. In § 48 para. 3, the word "regular" is deleted.



PART SEVEN



Amendment of the Act on Česká národní banka



Article. X



Act No. 6/1993 Coll. on Česká národní banka, as amended by Act No. 61/1993

Coll., Act No. 15/1998 Coll., Act No. 442/2000 Coll., constitutional

the Court declared under no. 276/2001 Coll., Act No. 483/2001 Coll., Act

No 127/2002 Coll., Act No. 256/2004 Coll., Act No. 377/2005 Coll., Act

No 57/2006 Coll., Act No. 62/2006 Coll., Act No. 230/2006 Coll., Act

No 160/2007 Coll., Act No. 36/2008 Coll., Act No. 124/2008 Coll., Act

No 254/2008 Coll., Act No. 281/2009 Coll., Act No. 285/2009 Coll., Act

No 295/2009 Coll., Act No. 145/2010 Coll., Act No. 156/2010 Coll. and

Act No. 41/2006, is amended as follows:



1. section 24 is repealed.



2. section 38 reads as follows:



"§ 38




(1) the Czech National Bank is authorised to operate payment systems.

The conditions of operation of the payment systems and the participation in them down

the law governing payment transactions.



(2) the Czech National Bank will allocate payments to the provider code

of payment services it intends to use for accounts that leads, account numbers

in accordance with the rules of international standardization (IBAN).



(3) the Czech National Bank shall issue a decree rules making the account number in the

accordance with the rules of international standardization (IBAN).



(4) the Czech National Bank leads the list of payments and

payment service providers, which has allocated these codes; for a list of

published in a manner allowing remote access. ".



3. In § 41 para. 2 (a). and) the words "electronic money institution" ^ 1a)

and branches of foreign electronic money institutions operating

the territory of the Czech Republic on the basis of a single licence, ' shall be deleted.



4. In § 44a para. 1 at the end of the text of the first sentence, the words "when

the performance of the tasks those persons perform on the basis of the authorisation,

license or registration of the Czech National Bank ".



5. § 44a para. 1 the second sentence reads "the Czech National Bank, in the performance

supervision shall be entitled to require from these people the necessary information and

supporting documentation. ".



6. § 46, including the title.



7. in section 46b of paragraph 1. 1, the number "41," the words "and paragraph 44a. 1. "



8. In § 49b paragraph 1. 1 comma after the second sentence, the word "bank" is replaced by

the word "and" and the words "electronic money institution" ^ 1a) and branches

of foreign electronic money institution "shall be deleted.



PART EIGHT



Changing the law on supervision in the field of capital market



Article. XI



Law No. 15/1998 Coll., on surveillance in the capital market and amending and

additional laws, as amended by Act No. 30/2000 Coll., Act No.

362/2000 Coll., Act No. 366/2000 Coll., Act No. 312/2002 Coll., Act No.

309/2002 Coll., Act No. 256/2004 Coll., Act No. 626/2004 Coll., Act No.

381/2005 Coll., Act No. 56/2006 Coll., Act No. 57/2006 Coll., Act No.

70/2006 Coll., Act No. 224/2006 Coll., Act No. 324/2006 Coll., Act No.

296/2007 Coll., Act No. 104/2008 Coll., Act No. 230/2008 Coll., Act No.

250/2008 Coll., Act No. 254/2008 Coll., Act No. 227/2009 Coll., Act No.

230/2009 Coll., Act No. 281/2009 Coll. and Act No. 160/2010 Coll., shall be amended

as follows:



1. In section 13(2). 1 letter c) is added:



"(c)) of the operators with the finality of settlement systems, settlement".



2. In § 13 para. the letter m) and (n)) shall be added:



"m) the securities settlement systems with the finality of settlement and their

of the participants,



n) participants of foreign securities settlement systems with the finality of

the settlement who have their head office or place of business in the Czech Republic ".



3. In § 13 para. 2 (b)):



"(b)), the list of foreign securities settlement systems with the finality of

the settlement ".



4. In article 13, paragraph 2, the following paragraph 3 is added:



"(3) The lists referred to in paragraph 1 shall be entered at least



and legal persons) in the business name or the name, registered office and identification

number of the person, if any, and



(b) the natural person) in the business name or name and surname, address

place of residence or place of business, and the identification number of the person if

allocated. ".



The former paragraph 3 shall become paragraph 4.



PART NINE



Amendment of the Act on the financial conglomerates directive



Article. (XII)



Act No. 377/2005 Coll., on the supplementary supervision of banks, spořitelními and

úvěrními associations, electronic money institutions, insurance undertakings and

traders in securities in the financial conglomerates directive and amending

some other laws (the law on the financial conglomerates directive), as amended by

Act No. 57/2006 Coll., Act No. 137/2006 Coll., Act No. 230/2006 Coll.

Law No. 278/2009 Coll. and Act No. 281/2009 Coll., is amended as follows:



1. in the title of the Act, the words "electronic money institutions ' shall be deleted.



2. In the title of part one, the words ' electronic money institutions '

shall be deleted.



3. In paragraph 2 (a). (d)), point 2 is deleted.



Points 3 to 5 shall be renumbered 2 to 4.



4. In article 3, paragraph 3. 2, the words ' electronic money institutions ' shall be deleted.



PART TEN



Amendment of the Act on the limitation of cash payments



Article. XIII



Act No. 256/2004 Coll., on the limitation of cash payments and on the amendment of Act No.

337/1992 Coll., on administration of taxes and fees, as amended by Act No. 303/2008 Sb.

and Act No. 281/2009 Coll., is amended as follows:



1. In paragraph 1, the words "the Bank or branch of a foreign bank, or

savings and credit cooperatives, "shall be replaced by" a person authorized

provide payment services "and the words" on account of the Bank "shall be deleted.



2. in article 4, paragraph 1 reads:



"(1) the provider of the payment, the amount of which exceeds the amount of 350 000 CZK (

"the limit") is required to make a payment via bank; This does not apply,

in the case of a payment that must be under special legislation ^ 2)

made in cash. ".



PART ELEVEN



cancelled



Article. XIV



cancelled



PART TWELVE



To change the code of civil procedure



Article. XV



In Act No 99/1963 Coll., the code of civil procedure § 267b including notes

footnote # 79a is inserted:



"§ 267b



Enforcement of a decision on the assets of the payment institution, foreign payment

the payment service provider of a minor nature, foreign

the payment service provider of a minor nature, the institution

electronic money, electronic money institutions, foreign

small e-money issuer or foreign

the Publisher of electronic money are not subject to small scale cash

the resources that the users of payment services to these persons entrusted

execution of a payment transaction, or cash, the

the adoption of electronic money have been released, or assets, that such persons under the

These funds acquired ^ 79a).



79A) § 19 and 52d of law no 284/2009 Coll., on payments, as

Act No. 139/2011 Sb. ".



PART THIRTEEN



Amendment of the Act on private and procedural international law



Article. XVI



Act No. 97/1963 Coll. on international private and procedural law in

amended by law No 158/1969 Coll., Act No. 234/1992 Coll., Act No.

264/1992 Coll., Act No. 126/2002 Coll., Act No. 37/2004 Coll., Act No.

257/2004 Coll., Act No. 365/2004 Coll., Act No. 377/2005 Coll., Act No.

57/2006 Coll., Act No. 70/2006 Coll., Act No. 233/2006 Coll., Act No.

296/2007 Coll., Act No. 123/2008 Coll., Act No. 7/2009 Coll., Act No.

409/2010 Coll. and Act No. 28/2010 Coll., shall be amended as follows:



1. section 11a and 11b shall be added:



"§ 11a



Whether the securities validly issued, whether it contains rights that are with him

due to its nature of linked in such a way that it is for his

force cannot be without a security exercise, and what rights and what legal

the effects are associated with it, shall be governed according to the nature of the securities



and the law) shall be governed by the eligibility to rights and internal affairs

legal entity that issued the security,



(b)), the law governing the legal relationship, the issue of the adjustment of the security

the paper is based,



(c) the law in force in the place), in which the security was issued,



(d)) law of the State in which it has its registered office or usual residence the person that valuable

paper issues, does not correspond to the nature of the security the use of another right,

or



(e)) law, which is intended in the quote, if the nature of the security

the paper admits.



section 11b



(1) where the law requires otherwise, the transfer of rights to valuable

the paper is governed by the laws in force in the place in which the securities at the time of

dealing with him.



(2) a lien on securities shall be governed by the law applicable at the place of

habitual residence or seat of the mortgage lender at the material time,

If the parties have not chosen the law of another; the choice has no effect against a third person,

unless it is proven that a third party was the choice of law known previously.

If it is a security, which must be produced in order to release things and

dealing with her, the law applicable in the place in which it is valuable

the paper at the time.



(3) the management of securities is governed by the law of the State in which it is conducted

the register in which with the benefit of the recipient of such actions carried out

write the founding legal effects of the ownership of the securities. The choice of the

other rights is permitted only if it is a law of the State in which the person

Head of the register at the time of the choice of another right to the head office or branch, and

record keeping is among the usual activities of that person.



(4) if the intended investment tools, including the rights attaching thereto,

ensure the rights



and the participant's or operator) of the payment system with the finality of

clearing, foreign payment system with the finality of

the clearing settlement system with the finality of settlement or

the foreign securities settlement system with the finality of settlement,

If these rights arose from its participation in a system or operation

the system, or



(b)) of the Central Bank of a Member State of the European Union or

The European Central Bank, governed by the rights of these persons or persons

acting on behalf of the legal order of the State in which it is

guided by evidence of investment instruments, which is burning


establishing the legal effects of such meetings; the choice of another right is

excluded.



(5) the Czech law is governed by the takeover offer owners

the securities issued by joint-stock companies based in

The Czech Republic, whose securities are admitted to

trading on a regulated market in the Czech Republic, and legal issues

associated with the take-over bid with an international element under the conditions

laid down by law governing takeover bids.



(6) if the decision of the bankruptcy of the Subscriber payment

system with the finality of settlement of foreign payment system

finality of settlement, with the finality of a securities settlement system

settlement or foreign securities settlement system with the finality of

the settlement, or if it has been issued in relation to that participant, other

decision or another public authority intervention with similar

the effects of, the rights and obligations of that participant arising from its

participation in the system by the same law, which governs the legal relations between the

participants in the system in the implementation of clearing or settlement. Choosing a different

rights is excluded. ".



2. In section 11 c of paragraph 1. 1 the words "person established on the territory of the Czech Republic

authorized to issue electronic money on the basis of an authorisation pursuant to

special legal regulation ^ 1), ", the words" foreign institutions

electronic money, who has received a license or permit from the authority

the Member State of the European Union or the European economic area, "

and the words "or of foreign electronic money institutions ' shall be deleted.



Footnote 1 shall be deleted.



PART OF THE FOURTEENTH



Amendment of the Act on consumer protection



Article. XVII



In § 23 para. 9 of Act No. 634/1992 Coll. on consumer protection, as amended by

Act No. 36/2008 Coll. and Act No. 285/2009 Coll., in the first sentence, the words

"If this is about the person, over which it exercises supervision pursuant to section 44 para. 1

Act No. 6/1993 Coll. on Česká národní banka, as amended

regulations "are replaced by the words" in persons subject to its supervision by

the law governing the status and the scope of the Czech National Bank

the performance of the tasks those persons perform on the basis of the authorisation,

license or registration of the Czech National Bank "and the second and the third

shall be deleted.



PART FIFTEEN



Amendment of the Act on Auditors



Article. XVIII



Act No. 93/2009 Coll. on Auditors and on amendments to certain acts (the Act on

Auditors), as amended by Act No 227/2009 Coll., is amended as follows:



1. In paragraph 2 (a). m), the words "operator of a securities settlement system,"

deleted, the comma after the words "investment companies" shall be replaced by the word

"and" and the words "and electronic money institutions ' shall be deleted.



2. In section 44 para. 6 of the introductory part, the words ' the provisions of the operator

the securities settlement system, "shall be deleted, the comma after the word" company ",

replaced by the word "and" and the words "and electronic money institutions '

shall be deleted.



Article. XIX



Transitional provision



The auditor carrying out statutory audits of the operator of a securities settlement system

or an electronic money institution as subjects of public interest under

section 2 (a). m) Act No. 93/2009 Coll. on Auditors, in the version in force

before the date of entry into force of this Act, is not considered by the auditor

carrying out the statutory audits of public-interest entity from the time of

the completion of the statutory audit relating to the financial year in which the

the operator of a securities settlement system or an electronic money institution

cease to be public-interest entity, does not do this, the auditor

even the statutory audit of another subject of public interest. This does not affect

the auditor's duty to publish an annual report on transparency in accordance with § 43

the law on Auditors.



PART OF THE SIXTEENTH



Amendment of the Act on the implementation of international sanctions



Article. XX



In article 15, paragraph 2. 2 of Act No. 69/2006 Coll., on the implementation of international sanctions,

the words "banks, branches of foreign banks and the people to whom grants

a banking licence; When you detect the deficiencies referred to in paragraph 1 shall act

the second sentence shall be replaced by "persons subject to its supervision, and in

the range of activities over which such persons shall exercise the supervision ".



PART SEVENTEEN:



The EFFECTIVENESS of the



Article. XXI



This Act shall take effect on the date of its publication.



Němcová in r.



Klaus r.



Nečas in r.