The Amendment To The Act On Commodity Exchanges

Original Language Title: Novela zákona o komoditních burzách

Read the untranslated law here:

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105/1995 Sb.


of 24 July 2003. in May 1995,

amending and supplementing Act No. 229/1992 Coll., on the commodity exchanges,

as amended by the Act No. 216/1994, Coll.

Parliament has passed the following Act of the United States:

Article. (I)

Act No. 229/1992 Coll., on the commodity exchanges, as amended by Act No.

216/1994 Coll., shall be amended and supplemented as follows:

1. section 1 (1). 4 including note No. 1a) is inserted:

"(4) the persons other than the stock market established under this Act, may, in their

the business name, the name, the designation of the services rendered or in any

the context of his activities to use the designation of "change", "stock" or

other designations from these words derived or confused, just

If so provided by law of this or the special. 1) this does not affect

protection and use of the name of the natural person. ^ 1a)

1A) section 11 of the civil code. Act No. 55/1950 Coll. on use and modification

first and last names, as amended. ".

2. section 1, the following paragraph 5 is added:

"(5) the designation" stock "can be used

and in the context of the activities) of persons entitled to mediation

stock trades (the "dealers"),

(b)) to indicate that the products and services designed exclusively for technical

support the activities of the exchanges or in direct connection with it and to indicate to the

information, reports and publications on the activities of stock exchanges ".

3. section 4, paragraph 4. 1 (b). (f)):

"(f)) for detailed steps on the appointment and removal of stock conciliators,

their mode of remuneration, the conditions under which the private dealers

to operate on the stock market, and the conditions under which they are authorized dealers to enter into

the stock trades on its behalf ".

4. In article 6 (1). 1 delete the words "of the Czech Republic or the Slovak

Republic (hereinafter "the competent authority of the State administration") ".

At the end of the paragraph, the following note # 3a) to read as follows:

"3a) § 13 para. 2, and article 15, paragraph 2. 2 of the Act No. 2/1969 Coll., on establishment of the

ministries and other central bodies of State administration of the Czech Republic,

as amended. ".

5. section 6, the following paragraph 3 is added:

"(3) the competent authority of the State administration may permit to operate a stock exchange

decide that the Statute contains an adjustment is to depart from section 20 (2). 1, section 21

paragraph. 1 (b). (b)), § 23 para. 1 and section 27 para. 3 to 5 of the Act, if the

otherwise prevent or substantially impeded by the possibility of connecting to Exchange

international organizations makes the commodities exchanges, for which

the stock market is based; However, this adjustment cannot be enabled if the

limited by the performance of the State and oversee the activities of the conciliators. The founders of the

the proposal shall be on such derogation in the application for authorisation and

the circumstances relevant for the assessment demonstrates its use. On

the granting of a permit according to this provision is not a legal right. Enable

the competent authority may withdraw the State administration, if the change in the time limit

It laid down when issuing the permit does not become a member of those international

organization exchanges. ".

6. In article 11 (1) 2 words are deleted "Czech and Slovak Federal

Of the Republic, "and the words" and of the Slovak Republic ".

7. in paragraph 2 of article 23. 3 the second sentence shall be deleted.

8. in section 29 para. 2 the words "the Czech and Slovak Federative Republic"

replaced by the words "United States".

9. section 29 para. 3 read as follows:

"(3) the stock exchange dealers can perform other gainful activity

related to the trade, manufacture, processing or use of commodities that

are the subject of stock trades, only if the operation

other gainful activities of the conciliators agrees, the competent authority of the stock exchange

Government and the Stock Exchange Chamber, and if it is allowed to statute. ".

10. in section 29 shall be inserted after paragraph 3 of the new paragraphs 4, 5 and 6, which

shall be added:

"(4) the Stock Exchange Chamber or the competent authority of the State administration may be granted

consent to engage in other gainful activities stock conciliators

appeal in writing. The reason for the withdrawal of consent must be given in the decision about the

withdrawal of consent. The stock exchange of a conciliator is then obliged without undue

delay in gainful employment to terminate in a manner arising from relevant


(5) the Statute modifies the way the publication of the list of stock exchange

conciliators who also carry other gainful activity, and the range of data

related to this activity, which must include at least

for a full list of these activities and in what capacity the gainful activity


(6) the stock of a conciliator, who shall exercise other gainful activity under

paragraph 3, the Stock Exchange Chamber cannot be a member of the Committee of the stock exchange and neither

the arbitrator or other official trading session of the arbitral tribunal. ".

Paragraphs 4 and 5 shall be renumbered as paragraphs 7 and 8.

11. In paragraph 29 of the new paragraph 8, the words "in accordance with paragraph 4 (b). and) "

shall be replaced by "referred to in paragraph 7 (b). and) ".

12. In § 33 para. 2 are deleted, the words "the Czech National Council and the Slovak

National rady9) "including the footnotes.

13. in § 34 paragraph 3, the following paragraph 4 is added:

"(4) the stock exchange Commissioner revokes consent to engage in other gainful

the activities of the stock of a conciliator who contravenes the provisions of § 25 para. 3.

The consent recall is not limited to the Commissioner for a stock to save permissions

such conduct is sanctions. "

The current paragraph 4 shall become paragraph 5.

14. in § 36 odst. 1 (b). a), the words ' section 29 para. 3 "this

the words: ", 4 and 5".

15. In article 36, paragraph 2, the following paragraphs 3 and 4 are added:

"(3) if the competent authority of the State administration, that person, that has not been

granted, it uses the designation pursuant to § 1 (1). 4 first sentence, otherwise

than according to the provisions of § 1 (1). 5, invite her to the deficiencies found

the prescribed time limit.

(4) the competent authority of the State administration may persons who, after the expiry of

the deadlines laid down in the invitation under the previous paragraph on use

the markings referred to in § 1 (1). 4, impose a fine in the amount of 500 000 CZK.

Persons who, within three years after a final decision imposing fines

violates any of the provisions of § 1 (1). 4 again, the competent authority of the State

Administration to impose a fine of up to $ 2 000 000.

Paragraphs 3, 4, 5, 6 and 7 are renumbered as paragraphs 5, 6, 7, 8

and 9.

16. in paragraph 36 the new paragraph 5, the following sentence at the end of connecting:

"The fine provided for in paragraph 4 may be imposed within six months from the date on which the

unauthorized use of the indications referred to in § 1 (1). 4 the competent authority

the State Government, but no later than one year from the date on which the

such conduct has occurred. ".

17. § 36 paragraph 6 is added:

"(6) the fine imposed in accordance with paragraphs 2 and 4, is due within 30 days from the

the date on which the decision to save it has power. A copy of the decision

with an enforcement clause, the competent authority of the State administration

to the competent fiscal authority. ".

18. In paragraph 36 the new paragraph 8, the words "or deleted state budget

The Slovak Republic according to the location of the Exchange. "

Article II

Legal and natural persons to whom the authorisation has been granted and that the

the effective date of this Act, use the markings referred to in paragraph 1 of the

paragraph. 4 otherwise than under the provisions of § 1 (1). 5, they shall, within three

months from the date of entry into force of this Act, remove these markings and

stop using it.

Article. (III)

This Act shall take effect on 1 January 2000. July 1995.

Uhde in r.

Havel, v. r.

Klaus r.