56/2006 Sb.
LAW
on 2 December. in February 2006,
amending Act No. 256/2004 Coll., on the capital market,
as amended, and other related laws
Change: 254/2008 Sb.
Change: 93/2009 Sb.
Change: 281/2009 Sb.
Change: 89/2009 Sb.
Parliament has passed the following Act of the United States:
PART THE FIRST
Amendment of the Act No. 256/2004 Coll., on capital market
Article. (I)
Act No. 256/2004 Coll., on the capital market, as amended by law
No 635/2004 Coll., Act No. 179/2005 Coll. and Act No. 377/2005 Coll.,
be amended as follows:
1. § 1, including footnote No 1 is added:
"§ 1
This law incorporates the relevant provisions of the European Communities ' ^ 1 ') and
regulates the provision of services in the field of capital market and the public
offering of securities.
1) Council Directive 93/6/EEC of 15 October 1968. March 1993 on the capital
adequacy of investment firms and credit institutions, as amended by
directives 98/31/EC and 98/33/EC.
Council Directive 93/22/EEC of 10 September 1984. May 1993 on investment services
in the field of securities, as amended by directives 95/26/EC, 97/9/EC and
2000/64/EC.
European Parliament and Council Directive 97/9/EC of 3 June 2003. March 1997 on
investor compensation systems.
European Parliament and Council Directive 98/26/EC of 19 June 2000. May 1998 on
settlement finality in payment systems and in systems
the settlement of securities transactions.
European Parliament and Council Directive 2000/12/EC of 20 May 1999. March
2000, relating to access to the activity of credit institutions and
the performance, under the provisions referred to in article 2 (2). 2.
European Parliament and Council Directive 2001/34/EC of 28 June 1999. May 2001
on the admission of securities to listing on the stock exchange and the
the information to be disclosed to them, as amended by Directive
2003/6/EC.
Directive of the European Parliament and of the Council 2003/6/EC of 28 June 1999. January 2003 on the
insider dealing and market manipulation (market abuse).
Directive of the European Parliament and of the Council 2003/71/EC of 4 April 2003. November
2003 on the prospectus to be published when the public or
the admission of securities to trading, and amending Directive 2001/34/EC ".
2. In paragraph 2 (a). (c)), the words "the power of some of these
persons delegated or "shall be deleted.
3. In paragraph 2, at the end of subparagraph (g)) the dot replaces the comma and the following
letter h) including footnote No. 1a is added:
"(h)), the customer's property funds and investment vehicles entrusted to
Merchant securities in order to provide investment services and
cash and investment tools for those values obtained for
customer. The property of the customer are not deposits under the law governing
banks ^ 1a), which charges a brokerage house that is
a bank or a branch of a foreign bank.
"1a) Act No. 21/1992 Coll., on banks, as amended.".
4. In article 3, paragraph 3. 1 (b). (b)), the words ' issued by the Fund "shall be deleted.
5. In section 3, the dot at the end of paragraph 2 is replaced by a comma and the following
the letter d), which read as follows:
"(d)) other securities which are normally dealt in on the capital
the market, which give a right to cash settlement, with the exception of
payment instruments ".
6. in paragraph 3 of the text at the end of paragraph 4, the words "securities
("CSD") ".
7. In paragraph 3, the following paragraph 5 is added:
"(5) the collective investment securities shall mean the units of the
the mutual fund, investment fund shares and similar securities
issued abroad. ".
8. In section 4, paragraph 4. 4, the words "if it has a securities dealer (section
5) stated in the authorization for its activities "shall be deleted.
9. in section 4, paragraph 4. 6 of the introductory part, the words ' the provisions of the business
dealer of securities "shall be replaced by the words" or registration ".
10. In section 4, paragraph 4. 6 (a). and), after the words "a person providing investment
the service, "the words" are controlled by a person providing investment
the service ".
11. In paragraph 6 of paragraphs 3 and 4 are added:
"(3) equity brokerage house, which is not a Bank and the
does not have the provision of investment services limited pursuant to paragraph 4, it shall
Czech koruna to make at least the amount corresponding to the 730 000 euros.
(4) equity brokerage house, which is not a Bank and the
is not authorised to provide any of the investment services listed in section 4 of the
paragraph. 2 (a). (c)), and (e)), it must be at least in the amount of CZK
corresponding to EUR 125 000. ".
12. in section 9 is at the end of paragraph 1, the following sentence "the stock Trader
the papers, which is a Bank, adheres to the capital adequacy under the Act
relating to the bank ^ 1a). ".
13. in § 9 para. 2, the words "for the calculation of ' shall be deleted.
14. in section 11 (1) 1 (b)):
"(b)) to achieve or exceed the qualified participation 20%, 33% or 50
% on the securities trader, which is not a Bank, unless the
reaching or exceeding the participation of transition of property rights to valuable
paper, or ".
15. in article 11 paragraph 2 reads as follows:
"(2) for the purposes of calculating the participation referred to in paragraph 1 on the merchant with the
securities shall be counted and the voting rights of the securities
and on account of the person) that referred to in paragraph 1 holds in his name the other
person,
(b)) the disposal of the body controlled by a person referred to in paragraph 1,
(c)) at the disposal of another person that has entered into a contract with a person referred to
in paragraph 1 or with the controlled entity, in which each undertook to
in the long term to promote a common policy on the management of the trader
securities that are in compliance exercise voting rights of
securities held,
(d)) which, under a contract with a person referred to in paragraph 1 or with her
the controlled person holds another person, provided this agreement assumes
the temporary abandonment of the disposition of the voting interest of person referred to in
paragraph 1, or the controlled person in return for payment,
e) that were referred to in paragraph 1 is provided as security; It
does not apply if the disposition of voting rights was entrusted to a person
that has these securities in the custody, management, or on your property and
that in at least one nationally distributed journal publishes information on
that it will exercise such voting rights; in this case,
the voting rights of such securities is counted as a person who is
is in the custody, management, or their assets,
(f)) which are in the possession of another person if that person performs
the voting rights of those securities on your behalf according to the instructions of the person
referred to in paragraph 1 on the basis of the Treaty on the exercise of voting rights ".
16. in article 11, paragraph 3 is added:
"(3) if the person, persons acting in concert or a person referred to in
paragraph 2 are established in the Member State of the European Union, shall be subject to surveillance
supervisory authority of that Member State and intending to acquire the participation by
paragraph 1, the Commission shall request the opinion before taking a decision on this
supervisory authority. ".
17. in section 11 paragraph 6 is added:
"(6) if the Commission has not sent to the applicant within three months from the date of receipt of
the request for approval referred to in paragraph 1 of the decision on such application, against
You can submit a decomposition, the approval was granted. If there is a
proceedings on the application is interrupted, the time limit is not running. ".
18. in § 12 para. 3, the letter "a") the following new subparagraph (b)), which read as follows:
"(b)) of book-entry securities, which the owner has signed a contract
about the custody and investment instruments that are kept in a separate
the registration of securities, led by the Czech National Bank on the account of customers;
This evidence is leading in the register following the separate registers
securities conducted by the Czech National Bank (section 93). "
Subparagraph (b)) to (d)) shall be renumbered as paragraphs (c) to (e)).)
19. in § 12 para. 3, letter e) is added:
"e) of investment instruments, which he entrusted to customers
the provision of investment services and that are not listed in (a)) to
(d)) and the nature of which it allows; This register is kept in a separate
Register of investment instruments (section 93). ".
20. in § 12 para. 4, the number "2" is replaced by "3".
21. In article 12, paragraph 5 shall be deleted.
Paragraphs 6 to 10 shall be renumbered as paragraphs 5 to 9.
22. in § 12 para. 5 letter a) is added:
"and separately) leads its own cash and cash
entrusted to it by the customer and accounts for the assets of the customer separately from their
assets ".
23. in section 13 is at the end of paragraph 3 the following sentence "the stock Trader
papers for the purpose of keeping the securities dealer shall be entitled to
lead the social security numbers of the participants the transaction. ".
24. in § 14 para. 2, after the word "test", the words "a person who is
referred to in section 10, paragraph 1. 3. "
25. in article 14, paragraph 3 reads:
"(3) the Commission may waive the composition of brokerage test person
and the composition of similar tests proves) before domestic professional organizations,
which brings together participants in the capital market, if such test
examines the knowledge necessary for the exercise of the activities of the broker's comparably with the
the broker's exam, or
(b) the composition of similar tests proves) abroad, if such test
examines the knowledge necessary for the exercise of the activities of the broker's comparably with the
the broker's exam, and proves knowledge of the laws governing the
the capital market in the Czech Republic. ".
26. in article 15, paragraph 2. 1 letter e) is added:
"e) is obliged to inform the customer within the time limit agreed with him,
However, at the latest, within the time limits laid down in the implementing regulation, the
stores that closed for him, ".
27. in article 15, paragraph 2. 1 at the end of paragraph (i)) the comma is replaced by a dot and the
the letter j) shall be deleted.
28. in § 16 para. 1 the second sentence, after the words "access" shall be replaced
"also".
29. in § 16 para. 2 (a). (d)), the words "through regulated markets
or other persons "shall be replaced by" to the extent pursuant to § 13 para.
2. "
30. In article 16(1). 3, the words "within 1 month after the expiry of the calendar
quarter ' are replaced by ' within the time limit set by the implementing
Regulation ".
31. in section 16 paragraph 4 is added:
"(4) a securities dealer that is not a Bank and that has the obligation to
maintain equity pursuant to § 6 paragraph 1. 3, it shall inform the Commission within 20 days
from the end of each calendar month on compliance with the rules of the capital
of proportionality. Other securities brokers, who are not the Bank,
It has this obligation within one month after the end of the calendar
quarter. ".
32. In article 16(1). 7, the word "and" is replaced by a comma and the word "performance"
the words "and of the time limit referred to in paragraph 3".
33. In paragraph 17 (a). (b)), the words "three years" is replaced by "5 years".
34. In article 18, the following paragraph 4 is added:
"(4) in the case of changes to the business, which occurred as a result of
changes to the scope of authorisation (§ 144v), the provisions of paragraphs 1 to 3
not apply. ".
35. In section 19 para. 3 at the end of the paragraph, the following sentence is added: "
does not apply to the merger of the brokerage house, which has permission only to
the provision of investment services pursuant to § 4 paragraph 2. 1 (b). (d)), with the investment
the company, which has a permit for the purpose of the customer's assets
by a special Act; the provisions of paragraphs 1 and 2 shall apply
accordingly. ".
36. In § 25 para. 3 letter a) is added:
") adheres to the information obligations pursuant to § 16 para. 2 (a). b) to (e)),
as regards the investment services provided in the territory of the United States, ".
37. In paragraph 26, at the end of paragraph 2 the following sentence "the information referred to in
paragraph 1, the Commission shall send the note at the same time the Ministry of Finance (hereinafter
' the Ministry '). ".
38. In section 26 para. 3, after the word "inform" the words
"through the Ministry of".
39. In § 26 para. 4 introductory part of the provision, the word "reports"
the words "through the Ministry of".
40. In section 27 para. 4 (b). (b)) after the word "concerned" the words "and in the
respect of persons against whom the proceedings are conducted, ".
41. In section 27, the following paragraph 10 is added:
"(10) the denial of the request referred to in paragraph 4 or 9, the Commission is required to
inform the supervisory authority referred to in paragraph 2 of the grounds for refusing a request,
including all available information on the ongoing proceedings, or on the
decision. ".
42. In § 28 para. 7 (b). (d)), the words "section 16" are replaced by the words "§ 24 para.
7 (b). and) ".
43. In section 29 para. 1 the introductory part, the words ' the provisions of the securities
issued by a collective investment fund "are replaced by the words" securities
collective investment securities ".
44. In paragraph 8 of section 30 reads:
"(8) the Commission within 30 days from the date of receipt of the request the applicant registers and
shall issue him a certificate. If the applicant submits that the conditions referred to in
paragraph 5 or 6, within that period, the Commission will initiate administrative proceedings and
Decides that the application for registration is rejected, if the applicant submits the fulfilment of
the terms set out in this procedure. ".
45. In article 30, the following paragraph 9 is added:
"(9) the Commission cancels the registration, if the investment provider
in writing of its withdrawal to the Commission so requests. ".
46. In § 32 para. 1 at the end of subparagraph (a)), the words "; investment
the provider for the purpose of keeping this evidence, to conduct social security
the numbers of participants in the transaction ".
47. In § 32 para. 1 at the end of the text of the letter b), the words "and
provides investment services with professional care ".
48. In paragraph 32, the following paragraph 5 is added:
"(5) the investment intermediary holds the records of incoming and
passed the instructions referred to in paragraph 1 (b). and) at least 10 years from the end of
the calendar year in which the service was rendered. ".
49. In § 33 para. 2, after the words "shall apply" shall be replaced by "appropriately".
50. in § 33 para. 2, the words "or where the nature of the use of the security
This legislation does not exclude "are deleted.
51. In § 33 para. 4 the last sentence, the words "period referred to in the first sentence"
replaced by the words "this period".
52. In article 33, paragraph 5 is added:
"(5) when an involuntary public auction is for investment securities
the findings of the price of the subject of the auction must process the expert opinion pursuant to
special legal rules relating to the performance of expert activities;
If the submission does not exceed the lowest amount of 100 EUR, you can obtain an expert opinion
the price of the lot to replace the institution of the estimate of the price of the subject of the auction
under special legislation governing public auctions.
The auctioneer shall publish an expert opinion or estimate the price way
allowing remote access for at least one year. Auctioneer
the auction house will send a notice containing the price of the article of the auction within the time limits
set out under a special legal rules relating to the public
the auction, to the Commission. ".
53. In § 33 para. 6 the first sentence, the words "CSD" is replaced by
the words "person the head of securities".
54. In article 33, paragraph 6, the following paragraph 7 is added:
"(7) if the subject of the public sale of securities in documentary
sounding of the bearer securities and the securities does not know the auctioneer
the owners of these securities, the auctioneer is not required to send
the owners of the auction notice and other documents. ".
The present paragraph 7 shall become paragraph 8.
55. Part four, including headings and footnotes # 1b and 1 c is inserted:
"PART FOUR
PUBLIC OFFER OF INVESTMENT SECURITIES AND PROSPECTUS
TITLE I OF THE
PUBLIC OFFER OF INVESTMENT SECURITIES
§ 34
Basic provisions
(1) public offer of investment securities (hereinafter referred to as "public
menu ") means any communication from a wider range of people containing the
information about the offered investment securities and conditions for
their acquisition, which are sufficient to ensure that the investor has made
the decision to buy or to subscribe to these investment securities.
(2) for the purposes of the provisions of this Act on the public offering, the prospectus
Security and the conditions for the admission of a security to trading
on the official market means
a) equity securities investment securities pursuant to § 3 (2).
2 (a). and) and transferable securities giving the right to acquire these
investment securities, if such transferable securities
issued by the same issuer or issuer group belonging to the controlled
the same controlling entity (hereinafter referred to as "the same group") as the issuer
investment securities, which are to be obtained, transfer
(b)) debt securities investment securities that are not
equity securities,
c) offering programme plan to emit a continuous or repeated
fungible debt securities including warrants and
securities of these debt securities at a specified
issuing period,
d) qualified investor
1. the Bank, a foreign person with similar business, savings and
credit cooperative or a foreign person with similar business,
2. Securities and foreign person with similar
business,
3. a financial institution subject to supervision or supervision (§ 151),
4. the person referred to in paragraph 2 (a). and) points 12, 16 to 18,
5. legal persons who, according to the most recent annual report or
consolidated annual report meets at least two of the three criteria,
the total amount of assets which are equivalent to the amount in Czech Crowns
higher than EUR 43 0000 0000, corresponding to the net annual turnover in the crowns
Czech amount higher than EUR 50 0000 0000 and the average number of employees in the
250 or more of the marketing year,
6. other legal entity which is registered by the Commission at its request or
supervisory authority of another Member State of the European Union to a list
qualified investors,
7. an individual who meets at least two of the three established criteria
and that is written at his request by the Commission or by the authority of another
the Member State of the European Union to a list of qualified investors;
the criteria are carrying out transactions of a significant size on regulated
securities markets in the last 4 calendar quarters with
the average frequency of 10 per quarter, the size of the
of Fund assets in investment vehicles greater than the amount
corresponding to 500 000 euros and work experience in the financial sector in the
professional position which requires knowledge of investing into investment instruments
of at least one year.
(3) the provisions of this Act on public offering of securities and prospectus
the paper, with the exception referred to in paragraph 4 shall not apply to
and) debt securities issued
1. the Member State of the European Union,
2. the Member State of the Federation, which is a Member State of the European Union,
3. the territorial Government of a Member State of the European Union,
4. The Czech National Bank, the Central Bank of the Member State
The European Union or of the European Central Bank,
5. international organizations, is a member of at least one Member State
The European Union,
(b) capital shares) of the Central Bank of the Member State of the European Union,
c) securities unconditionally and irrevocably guaranteed by a Member State
The European Union or its territorial Government,
d) securities issued by a nonprofit organization to obtain funds
needed to achieve its nonprofit purpose,
(e)) debt securities issued in a continuous or repeated manner by the Bank,
a foreign person with similar business, savings and úvěrním
cooperative or a foreign person with similar business that
1. a child or are not removable,
2. not eligible for acquisition of another kind of securities with the exception of the coupon
3. are not associated with the derivative,
4. are entitled to a refund of the deposit received by the Bank,
5. are covered by a deposit guarantee scheme according to the law of the European
Community ^ 1b),
(f)) debt securities issued in a continuous or repeated manner by the Bank,
a foreign person with similar business, savings and úvěrním
cooperative or a foreign person with similar business that
1. a child or are not removable,
2. are not eligible for the acquisition of other kinds of securities,
3. are not associated with the derivative,
4. have a total sales price or the emission rate lower than the amount
corresponding to EUR 50 0000 0000; This amount is calculated for securities
offered in the course of 12 months,
(g)), the total securities offered the sales price or the emission
the rate shall not exceed an amount corresponding to 200 000 euros; This amount is
calculated for the securities offered in the course of 12 months,
h) non-fungible shares of capital whose main purpose is to ensure
the holder of the right to occupy an apartment, or other form of immovable property, for which you cannot
shares to sell, without waiver of this right,
I) bonds issued repeatedly by credit institutions in Swedish
the Kingdom, whose main purpose is to grant mortgage loans,
provided that these bonds are of the same emissions are emitted to the
unlimited sales during a specified issuing period, their terms and conditions
is not changed during the issuing period and the amounts derived from the issue of these
the bonds are in accordance with the agreement of the issuer placed
in assets which provide sufficient coverage for the liability deriving from securities
of papers.
(4) in the case of securities referred to in paragraph 3 (b). and), c), (f) and (g))) can
the issuer or the person who intends to offer securities to the public or which
asking for admission to trading on the official market,
decide that the prospectus shall be drawn up and shall publish it in accordance with this
by law.
§ 35
Obligation to publish a prospectus
(1) Public offer investment securities may only be a person who
no later than at the beginning of the public offer shall publish a prospectus
(the "prospectus") approved by the Commission (section 36 c) or foreign
supervisory authority (section 36f).
(2) the obligation to publish a prospectus shall not apply to the offering of securities
and) intended solely to qualified investors,
(b) limited categories of persons), which no Member State
The European Union is less than the number of 100, not qualified
investors,
(c)) if the lowest possible investment for an investor is equal to
or higher than the amount equal to EUR 50 000, or
(d)) whose nominal value or price for 1 piece at least equal to the amount of
corresponding to EUR 50 000.
(3) the obligation to publish a prospectus shall not apply to the public offer
and the securities offered) in connection with a take-over bid in Exchange
for other securities, if it is delivered to the Commission and is available at the registered office
the issuer of the document, which the Commission will decide that contains data
equivalent to that of the prospectus; If the Commission does not send the issuer to
15 working days from the date of delivery of the decision on this document
the document, the data is considered to be equivalent to that of the prospectus;
If the document management is broken, this time limit is not running,
(b) securities offered) in connection with the transformation of the company,
If it is delivered to the Commission and is available at the registered office of the issuer of the document
where the Commission decides that contains data equivalent to that in the
the prospectus; If the Commission does not send to the issuer within 15 working days from the
the date of delivery of the document of the decision on this document, the data
considered to be equivalent to that of the prospectus; If the document management
broken, this time limit is not running,
(c)) the shares offered free of charge to existing shareholders and shares
as a form of distributed dividends, if shares of the same type as
shares, of which there are such non-cash dividends are paid, if it is
delivered to the Commission and is available at the registered office of the issuer of the document containing the
data on the number and nature of the shares and the reasons for and details of the offer,
(d) securities issued by the employer), whose securities are already
admitted to trading on a regulated market, or by his
controlled or controlling or controlled by the same
person as an employer, and offered to current or former
staff or senior management of the employer, in the case of securities
of the same class as the securities admitted to trading on a regulated
the market and if it is delivered to the Commission and is available at the registered office of the issuer
a document containing information on the number and nature of the Securities and the reasons and
details of the offer, or
e) shares issued by in Exchange for other shares of the same class already issued,
If this does not occur to increase the capital.
(4) the subsequent sale of securities which have been the subject of a bid by
paragraph 2, shall be regarded as a separate offer. If the subsequent offering
the public offer shall be subject to the obligation to publish a prospectus of this offer,
unless this Act provides otherwise.
TITLE II
PROSPECTUS
section 36
The contents of the prospectus
(1) a prospectus must contain all the data, which are due to the
the particular nature of the issuer and the securities offered to the public
or in respect of which application is made for the admission to trading on the official
market, necessary for investors to assess the offered valuable consecrated
the paper and the rights associated with it, the assets and liabilities, financial position,
profit and loss account, the future development of business and the financial situation of the issuer and
where appropriate, a third party guaranteeing the repayment of the securities (hereinafter referred to as
"the guarantor"). The prospectus must be worded clearly, in a way
allowing for easy analysis.
(2) the prospectus shall contain information concerning the issuer and the instrument that is to be
publicly offered or admitted to trading on the official market, and summary
the prospectus. The prospectus may not contain a summary of the prospectus, if the
admission of debt securities whose nominal value or
price per 1 piece is equal to the amount corresponding to at least EUR 50 000, the
trading on the official market.
(3) the information ^ 1 c) may be included in the prospectus by reference to one or
more documents previously or currently published and approved by the Commission
or to the document referred to in § 120 paragraph 1. 6. the prospectus refers only to
the most up-to-date documents, which shall be publicly available all the time
the publication of the prospectus, and contains a list of links.
(4) the Summary of the prospectus contains a clearly worded brief
the basic characteristics and risks of the issuer and of any
the guarantor in the language in which the prospectus is drawn up. For a summary of the
the prospectus, you cannot use the procedure referred to in paragraph 3. Summary prospectus
provides notification that the
and) is an introduction to the prospectus,
(b)) decision to invest in the securities should be based on
that the investor will consider the prospectus as a whole,
(c)), when it is brought before the Court, concerning the data
referred to in the prospectus, may be the complaining investor to bear the costs
on the translation of the prospectus before the legal proceedings incurred,
If it is not in accordance with the legislation provides otherwise,
(d)) made by the person summary prospectus including its translation,
responsible for the accuracy of the information in the summary of the prospectus only if the
the summary of the prospectus is misleading or inaccurate in the common interpretation with
other parts of the prospectus.
(5) a prospectus shall be made out by the issuer, or the person who intends to publicly
offering securities or applying for admission to the
trading on the official market. If the plan to publicly offer valuable
papers or asking about the admission of a security to trading on the official
market more people together, be drawn up the prospectus, these persons together; If
However, one of those persons by the issuer, the issuer is made by the prospectus.
(6) the prospectus shall be drawn up as a single document or as a composite of
separate documents. A prospectus composed of separate documents
divided into registration document, proof of the quote and summary
the prospectus. Registration document contains information relating to the issuer.
Document quote contains the details of the quote, which is publicly
offered or to be admitted to trading on the official market.
(7) an issuer which already has a registration document approved by the Commission before
can offer to the public or for admission to trading
on the official market to draw up only a proof quote and summary
the prospectus. Document quote in this case contains information that
otherwise the content of the registration document, if since the last
the approval of the prospectus or supplement registration document there was a
significant change that could affect the evaluation of the investors. Proof of
quote and summary prospectus, require separate approval by the Commission.
§ 36a
The base prospectus
(1) a prospectus may be prepared as a base prospectus that may not
include the final terms applicable to each of the emissions per
paper, if it is a
and) debt securities issued under an offering programme, or
(b) debt securities issued by) continuous or repeated by the Bank,
a foreign person with similar business, savings and úvěrním
cooperative or a foreign person with similar business in
the case that
1. income from the issue of the said securities, are placed in assets
which provide sufficient coverage for the liability deriving from securities
until the date of maturity, and
2. when the insolvency of the Bank, foreign persons with
similar business, savings and credit cooperatives, or
foreign persons with similar business are listed in revenue
first and foremost intended to repay the capital and interest payable.
(2) if in the course of an offering programme or during
continuous or repeated issuing of securities in significant changes
the data referred to in the basic prospectus, the person who made
the prospectus, in the supplement a prospectus in accordance with section 36j.
(3) If the final terms of the offer are not included in the basic
the prospectus or supplement a prospectus, final terms will be disclosed, and
communicated to the Commission as soon as possible, at the latest at the beginning of the offer to the public,
If it is possible. In each such case, the provisions of § 36 d
paragraph. 1 (b). and) apply mutatis mutandis.
section 36b
Responsibility for the content of the prospectus
(1) for the accuracy or completeness of the information referred to in the prospectus corresponding to the person
that pursuant to § 36 odst. 5 is made by prospectus, and the guarantor, if it is
listed in the prospectus, and vouched for the accuracy of the data. If vyhotovilo
prospectus more people together, each of these persons is responsible for the content of
the prospectus. The prospectus must be given on the persons responsible for the
correct copies of the prospectus and its statement that, according to their
knowledge, the information contained in the prospectus are correct and that there
contains no omissions likely facts that might change the meaning of the
the prospectus.
(2) the accuracy of the information included in the summary of the prospectus corresponding to the person
referred to in paragraph 1 only if the summary prospectus
misleading or inaccurate in the common interpretation with other parts
the prospectus.
section 36 c
The approval of the prospectus
(1) the Commission approved the request of the person, which was produced by a prospectus (§ 36
paragraph. 5), prospectus issued by the issuer is established in the United
with the exception of the Republic referred to in paragraph 4.
(2) the Commission approved the request of the person, which was produced by a prospectus (§ 36
paragraph. 5), prospectus issued by an issuer established in
a State which is not a European Union Member State, except as provided in
paragraph 4, if the Czech Republic is the first Member State of the European
Union, where such securities are to be offered to the public or to the issuer
admitted to trading on a regulated market.
(3) the Commission approved prospectus of the debt securities issued by the
by an issuer established in another Member State of the European Union or in a State
that is not a Member State of the European Union, asked if the approval
The Commission, the person who has been made by prospectus, this paper has been or is
in the Czech Republic be admitted to trading on the official market or
publicly offered and this debt securities
and the nominal value or has) the price for 1 piece equal to at least the amount of the
corresponding to EUR 1 000, or
(b) the right to obtain) transferable securities or to obtain
the amounts in cash as a result of the conversion or exercise of the rights associated with it,
provided that the issuer of the debt securities is not at the same time
by the issuer of the underlying securities or a person who is part of the
in the same group as the issuer of the underlying securities.
(4) a person who has been made by prospectus issued by the issuer
based in the Czech Republic or by the issuer referred to in paragraph 2, the
ask for the approval of the prospectus by the supervisory authority of another Member State
The European Union, where the securities are to be admitted to trading on a
regulated market or offered to the public, if it is a debt
the security referred to in paragraph 3 (b). a) or (b)).
(5) the Commission shall decide on the application at first instance, in accordance with paragraphs 1, 2, or
3 to 10 working days from the date of receipt of the application, if they are
part of the application documents that the issuer of the securities mentioned in
the prospectus has been securities admitted to trading on a regulated market
or have publicly offered securities. This time limit shall be extended to 20
working days, if the issuer of the securities referred to in the prospectus does not
any securities admitted to trading on a regulated market and has not yet
publicly offered securities.
(6) the annex to the approval of the prospectus request form
and 2 copies of the draft prospectus),
(b)) in the case of documentary securities whether or not a sample copy of the valuable
the paper and the information about the printer, print it,
(c)) the documents referred to in paragraph 5.
(7) the Commission requests the addition of the prospectus, if the documents submitted
incomplete, or you need additional information. The deadline for the release of
the decision shall start to run again from the date when the Commission receives the required
additional information.
(8) the Commission will authorise the prospectus that contains all of the elements
arising from this Act.
(9) the Commission may approve the prospectus issued by the issuer with the
located in a State which is a Member State of the European Union, which is
drawn up in accordance with the legislation of that State, if the
and the requirements of that State) on the contents of the prospectus, equivalent
the requirements provided by law, and
(b)) the prospectus has been drawn up in accordance with international standards
established by international organisations of securities.
(10) the Commission may refer the request to the approval of the prospectus by the supervisory
authority of another Member State of the European Union, provided that this
foreign supervisory authority gave its assent. Shall notify the
The Commission, to a person who has been made by prospectus, within 3 working days from the date of
submission of the request. The time limit referred to in paragraph 5 shall run again from the date
submission of the request.
(11) the Commission may decide that it agrees with the proposal of supervisory
authority of another Member State of the European Union, on the referral of the request for
approval of the prospectus to the Commission. When approving listing particulars, the Commission shall
under this Act.
section 36 d
The final price and number of securities
(1) If on the date of approval of the prospectus is aware of the final price and the number of
securities which will be offered to the public, the Commission, the prospectus
approved, if
a) is disclosed in the prospectus the maximum price, or the criteria or conditions
under which will be the final price and number of securities is intended, or
(b)) it is possible to acceptances of the purchase or subscription of securities for at least
2 business days after the public disclosure of the final price and amount of securities which
will be offered to the public.
(2) the final price and number of securities must be notified to the Commission and
available in the manner referred to in section 36 h.
§ 36e
Narrowing of the prospectus
The Commission may authorise a narrowing of the prospectus of certain information where this is
This prospectus does not become misleading, and if it will be narrowed down to only about Essentials
and non-essential) for the purposes of public offerings and for the adoption of the
market and for the assessment of the assets and financial situation of the issuer,
the applicant or guarantor and their future development, or for the assessment of
the securities issued by the issuer,
(b)) whose publication would be contrary to the public interest, or
(c)) whose publication could significantly harm the issuer and the
neuveřejnění does not mislead the public with regard to facts relevant to the
assessment of the security and the rights associated with it, the issuer and the
of the offeror.
section 36f
Securities of issuers located in another Member State of the European Union
(1) for the purposes of public offerings of securities of an issuer established in another
Member State of the European Union or for the purposes of the application for the adoption of such
of securities to trading on the official market is a valid prospectus,
approved by the supervisory authority of the State of the registered office of the issuer, provided that this Office
provide to the Commission a certificate of approval, certifying that the prospectus has been
drawn up in accordance with the law of the European communities, and a copy of that
prospectus in English language or in the English language.
(2) the procedure referred to in paragraph 1 shall apply mutatis mutandis for the purposes of public
the offer of the securities of the issuer with its registered office in the Czech Republic, or
the issuer is established in the State which is not a Member State of the European Union,
or for the purposes of an application for admission of such securities to trading
on the official market, if the securities prospectus approved
supervisory authority of another Member State of the European Union.
§ 36 g
The language of the prospectus
(1) if the Commission approves the prospectus for the purposes of a public bid or
admission of a security to trading on a regulated market only in the United
Republic, must be written in the English language.
(2) if the Commission approves the prospectus for the purposes of a public bid or
admission of a security to trading on a regulated market in the United
Republic and at the same time and in one or more other Member States
The European Union, the prospectus shall be drawn up in the English language and also based on
the decision of the person vyhotovující the prospectus either in a language that accepts
the competent supervisory authority of that other Member State, or in English
language.
(3) if the Commission approves the prospectus for the purposes of a public bid or
admission of a security to trading on a regulated market in one or
more of the other Member States of the European Union with the exception of the Czech Republic,
the prospectus must be drawn up in accordance with the decision of the person vyhotovující
prospectus in either language that accepts the supervisory authority of the
another Member State, or in the English language. For control purposes,
The Commission shall be drawn up in accordance with the decision of the prospectus people
vyhotovující prospekt, either in English, or in English.
(4) if the Commission approves the prospectus of the debt securities, which
nominal value or price for 1 piece at least equal to the amount of
corresponding to EUR 50 000, for the purposes of admission to trading on a regulated
the market of one or more Member States of the European Union, must be a prospectus
drawn up in accordance with the decision of the person vyhotovující the prospectus either in Czech
language and in the language that accepts the competent supervisory authority of another
Member State, or in the English language.
(5) in cases where the law requires that the prospectus has been drawn up in
Czech language, may, at the request of the person applying for the approval of the prospectus,
The Commission, after an assessment of the specific circumstances authorise the listing
drawn up in the English language only, if it is in the interest of investors. A summary of the
the prospectus, however, must always be drawn up in the English language.
section 36 h
The publication of the prospectus
(1) a prospectus shall be published without undue delay after the approval in accordance with §
36 c or after delivery of the certificate of approval in accordance with § 36f in full
one or more references
and) manner allowing remote access to the website
the issuer and on the website of the securities dealer,
If the securities of the places or sold,
(b)) in full in at least one nationally distributed journal and
at the same time in the manner described in (a)),
(c)) in the form of a booklet, which is available free of charge to the public at the registered office and
the establishment of the regulated market on which the securities are to be
securities admitted to trading, or at the registered office of the issuer and in the headquarters and
the premises of securities dealers, the securities are placed
or sold, and at the same time in the manner described in (a)),
(d)) in a way allowing remote access to the website
of the regulated market where the admission of the
trading, or
(e)) in a way allowing remote access to the website
the applicant, if the securities are publicly offered by a person other than the issuer.
(2) If a prospectus is composed of several documents or integrates
information by reference, the documents and information making up the prospectus shall disclose and
to spread itself when the procedure referred to in paragraph 1 for all
separate documents and links. Each document States, where can I get
the other constituent documents of the full prospectus.
(3) if the prospectus is published only in a manner allowing
remote access, the issuer, the offeror, the person asking
for admission to trading on the official market or trader in securities
the papers, which places or sells securities, upon request
the investor free of charge to deliver a physical copy of the prospectus.
(4) for the purposes of public offerings in the territory of the Czech Republic must be
prospectus published in the English language or in the English language; a summary of the
the prospectus shall be published in the Czech language.
(5) If a prospectus is to be published in a manner allowing remote
access, publish it to the issuer, the securities dealer or
regulated market on its website in a manner
which typically post information about their activities. While ensuring the
at least, that
and the Internet address of the public) easily accessible through
the data of the internet and that it can be easily in the usual way
Search by business name of the issuer and to the contents of Internet addresses
has been provided free of charge, by the issuer,
(b)) that published the prospectus should take the form of a data file suitable for
Download, commonly used format,
(c)) that published the prospectus has been made available in this manner continuously
for 5 years, in the case of the admission of a security to trading on a
a regulated market, or for a period of 12 months in the case of a public bid
the security.
section 36i
The validity of a prospectus
(1) a prospectus is valid for the purposes of public offers and admission
a security to trading on the official market for a period of 12 months from the first
publication. In the cases referred to in section 36j, this time limit applies only if the
prospectus is supplemented by the approved and published prospectus supplements.
(2) a base prospectus for the purposes of an offering programme valid for
not more than 12 months after publication.
(3) in the case of debt securities specified in § 36a para. 1 (b).
(b)) is valid until the prospectus of the securities concerned cease to be
continuous or repeated emitted.
(4) previously approved and publicized the registration document in accordance with § 36 odst.
6 is valid for a period not exceeding 12 months, if it has been updated in the
accordance with section 36j. If this registration document accompanied by the approved and
a document published by the quote, and a summary of the prospectus, they are
documents considered as a valid prospectus.
section 36j
The prospectus supplement
(1) If, after the approval of the prospectus but before the end of the public
menu or the start of trading on the official market, a substantial
a change in any of the facts referred to in the prospectus or has been detected
significantly inaccurate data, and this change or inaccuracy may influence the
reviews of the security, the person who has produced a prospectus,
submit to the Commission for approval after approval of the prospectus and supplement it
publish in the same manner as the published prospectus. On the approval of
the appendix to the prospectus, the Commission shall within 7 working days of delivery
request for approval of Appendix a prospectus.
(2) if necessary, the person who made the prospectus supplement summary
the prospectus and all its translations, in accordance with the approved amendment
the prospectus.
(3) an Investor who before the publication of the supplement prospectus agreed with
purchase or subscribe for securities, is entitled within 2 working
days after the publication of the supplement from the purchase or subscription of withdraw.
§ 36 k
Promotional and other communications
(1) Each promotional communication relating to a public offer or admission
of securities to trading on a regulated market, in which
required to produce a prospectus must contain the information about the fact that
the prospectus has been or will be published and where it is, or can be a prospectus
get. Promotion messages disseminated together with another notice must be
clearly identifiable and appropriately separated from the rest of the communication.
(2) any promotional communications and other notification in written or oral form,
relating to a public offer or admission to trading
on a regulated market, which is an obligation to draw up a prospectus,
must be in accordance with the information contained in the prospectus and must not contain
data that is inconsistent with its contents or which is misleading.
(3) in the case of a public offer or admission to trading
on the official market, which are required to produce a prospectus
is required, material information provided by an issuer or an offeror
menu tells you and addressed to qualified investors or special
categories of investors (article 35, paragraph 2, and 3), communicated to all qualified
investors or special categories of investors to whom the offer is
intended.
§ 36 l
Cooperation between the supervisory authorities of the Member States of the European Union
The Commission, at the request of the issuer or the person responsible for a copy of the prospectus
the competent authority of another Member State of the European Union
a certificate of approval attesting that the prospectus has been drawn up
in accordance with the law of the European communities, and provide a copy of the
to that of the prospectus, and this within 3 working days from the date of receipt of the
application or, if the application is submitted together with the draft prospectus, within
one working day after the approval of the prospectus. The same procedure applies
for any supplement to the prospectus. The Commission attaches to the certificate translation
the summary of the prospectus, drawn up by a person who has been made by prospectus, if
of the issuer or the person responsible for the copy of the prospectus.
1B) directive of the European Parliament and of the Council 94/19/EC of 30 March 2004. may
1994 on deposit guarantee schemes.
1 c) Commission Regulation (EC) no 809/2004 of 29 April 2004. April 2004 laying
performed by European Parliament and Council Directive 2003/71/EC as regards the
the information contained in prospectuses as well as the format, incorporation, placing the data in the form of
reference, publication of such prospectuses and dissemination of advertisements. ".
56. In § 39 para. 2 the words "§ 44.0" are deleted.
57. In section 40 para. 2 the term "closer" is deleted.
58. In § 44 para. 2 (a). (b)), the words "and its head office" be deleted.
59. In article 44, paragraph 4, including the footnotes # 1 d and 1e:
"(4) the obligation to publish a prospectus referred to in paragraph 2 (a). and)
does not apply to
and securities) pursuant to § 34 paragraph 1. 3,
(b)) shares, which for a period of 12 months are less than 10% of the total
the number of shares of the same class already admitted to trading on the same
the official market,
c) securities offered in connection with a take-over bid in Exchange for
other securities, if it is delivered to the Commission and is available at the registered office
the issuer of the document, which the Commission will decide that contains data
equivalent to that of the prospectus; If the Commission does not send the issuer to
15 working days from the date of delivery of the decision on this document
the document, the data is considered to be equivalent to that of the prospectus;
If the document management is broken, this time limit is not running,
d) securities offered in connection with the transformation of the company, if it is
delivered to the Commission and is available at the registered office of the issuer of the document which
the Commission shall decide that contains data equivalent to that of the prospectus;
If the Commission does not send to the issuer within 15 working days from the date of
document delivery decision about this document, the data
considered to be equivalent to that of the prospectus; If the document management
broken, this time limit is not running,
e) shares offered free of charge to existing shareholders and the shares distributed
as a form of dividend, if the shares of the same class as the shares, of which
such non-cash dividends are paid, if it is delivered to the Commission and
is available at the registered office of the issuer of the document containing information on the number and
nature of the shares and the reasons for and details of the offer,
f) securities issued by the employer, whose securities are admitted
to trading on a regulated market, or companies controlled by him or
its controlling shareholder or a company controlled by the same person as
employer and offered to current or former employees or
senior management of the employer, in the case of securities of the same kind
as the securities admitted to trading on a regulated market, and if it is
delivered to the Commission and is available at the registered office of the issuer of the document containing the
data on the number and nature of the Securities and the reasons for and details of the offer,
g) shares issued in Exchange for other shares of the same class already admitted to
trading on the same official market, provided that this does not increase the
the subscribed capital,
h) shares acquired in Exchange for another security or performance rights from the
other securities, provided that the shares are of the same
kind as the shares already admitted to trading on the same official market,
I) securities already admitted to trading on another regulated market in
Member State of the European Union
1. these or fungible securities are admitted to trading on a
other regulated market for more than 18 months,
2. for securities first admitted to trading on a regulated market
after 31 December 2006. December 2003, admission to trading associated with the approval
prospectus and publication in accordance with the requirements of the law of the European
Community ^ 1 d)
3. in the case of securities which have been admitted to trading on a
regulated market after 30. June 1983, and do not meet the conditions laid down in point 2,
meet the requirements of Community law for the adoption of
securities on the official market (quote) ^ 1e)
4. continue to meet the conditions for securities for trading on that other
a regulated market,
5. the person asking for admission to trading on a
the official market, shall draw up a summary document in the English language containing the
the summary of the prospectus in accordance with § 36 odst. 4, and information about where you can obtain
final prospectus and where are the available financial information published
by the issuer; This document will be made public in the manner referred to in section 36 h.
1 d) directive of the European Parliament and of the Council 2003/71/EC of 4 April 2003.
November 2003 on the prospectus to be published when a tender offer
or admission of transferable securities to trading, and amending
Directive 2001/34/EC.
1E) European Parliament and Council Directive 2001/34/EC of 28 June 1999. may
2001 on the admission of securities to listing on the stock exchange and the
the information to be disclosed to them, as amended by Directive
2003/6/EC.
Council Directive 80/390/EEC of 17 May. March 1980 coordinating the requirements of the
at the Assembly, control and distribution of the prospectus of securities that have
be disclosed during the admission of securities to listing on stock exchange
papers. ".
60. In § 45 para. 1 the term "printer" is replaced by "operators
the printer ".
61. In § 45 para. 3 the words "printer that has a" shall be replaced by
"sanction, which has its registered office in the Czech Republic and who has".
62. section 47včetně of the title:
"§ 47
The disposal of securities from trading on the official market
(1) an issuer which decided to dispose of the securities of the
trading on the official market pursuant to § 186a of the commercial code, or
shareholder or persons acting in concert who have involvement in the
the company at least 95% of the voting rights, if you decide to make
the offer to purchase with the expectation that after fulfilling commitments to repurchase deals
will decommission of securities from trading on
the official market pursuant to section 183h paragraph. 3 of the commercial code, this
immediately
and) notify to the Commission and to the organizer of the regulated market on which the security is
the paper admitted to trading, and
(b)) shall publish in a way allowing remote access.
(2) the persons referred to in paragraph 1 shall be sent to the organizer of the regulated market
application for the disposal of securities from trading on the official market without
undue delay after the fulfilment of any obligation arising under § 183h and
186A of the commercial code to such persons. The obligatory public design
contracts for the purchase of securities pursuant to § 186a
the commercial code, for the fulfilment of the obligations shall be deemed completed
to the stockholders, who would not vote for the disposal or of the General Assembly
did not vote; does not require the fulfilment of the obligations of the shareholders, who
voted for the exclusion of securities from trading on
the official market pursuant to § 186a para. 7 of the commercial code. An attachment
application form document proving that the issuer or other person entitled
to decide on the disposal of securities from trading on the official market in the
accordance with the commercial code, and that this fact has been notified
The Commission, and proof of compliance with all the obligations arising under § 183h and
186A of the commercial code. In the case of bonds shall be treated in accordance with the
special legislation governing the bonds.
(3) regulated market excludes securities from trading on
the official market without undue delay after receipt of the request referred to in
paragraph 2 with all the attachments.
(4) regulated market shall immediately notify the disposal of valuable
paper from trading on the regulated market and the CSD
To the Commission.
(5) the regulated market shall be reflected in the appropriate lists
exclusion of securities from trading on the official market
According to § 183n commercial code without undue delay after receipt of the
written notice to the issuer. ".
63. In the heading of section 49, the words "on the suspension of trading with a valuable
paper ' shall be deleted.
64. In § 49 paragraph 1. 1 the words "on the suspension of trading with a valuable
paper on the official market "are deleted.
65. In paragraph 49, paragraph 4 shall be deleted.
66. section 50 to 55, including the headings are deleted.
67. In § 57 para. 5 after the word "inform" the words
"through the Ministry of".
68. In section 66 paragraph 1. 1 at the end of paragraph (e) is replaced by a comma and dot)
the following point (f)), which read as follows:
"(f)) decide on the imposition of measures against the persons authorized to enter into
trading and issuers, whose securities are admitted to
trading on the stock exchange regulated market; the Stock Exchange Chamber may
deciding on the application of the measures on Stock Exchange Committee delegate. ".
69. In article 66, the following paragraph 3 is added:
"(3) The procedure for the imposition of measures pursuant to paragraph 1. (f))
not apply the administrative code. Obligations, the violations of the may stock market
the Chamber measures referred to in paragraph 1 (b). (f)), types of
measures and steps for their implementation modifies the stock rules. ".
70. In article 67, paragraph 1 reads:
"(1) the Stock Exchange Chamber may set up to pursue the activities associated with the
the organisation of the market in a stock market investment vehicles, which are committees
the stock exchange authority. ".
71. in the § 70 para. 1 (b). (c)), the words "of the Ministry of Finance (hereinafter referred to as
"the Ministry") "shall be replaced by" Ministry ".
72. in the § 70 para. 3 of the introductory part of the provisions read as follows: "a person authorised
to conclude the stock trades, with the exception of the persons referred to in paragraph 1 (b).
(e)) ".
73. in the § 70 para. 3 at the end of subparagraph (a)), with the words "
The Czech National Bank is required to comply with stock exchange rules, to the extent
which are without prejudice to the obligations arising from membership of the European
system of central banks and of the obligations arising from the execution of the main
objectives under a special legal regulation governing the activities of the Czech
the National Bank ".
74. In section 74 para. 5 sentences first and third after the word "inform"
the words "through the Ministry of".
75. section 80 reads:
"§ 80
(1) the organizer shall establish the OTC market
and) control and safety measures when handling and registration data
(b)) a system of internal control and
(c)) the rules for closing its staff on its own behalf and on
account of persons close to them.
(2) the organizer of the OTC market adjusts its internal regulation
internal organization (the Organization) and the matters referred to in paragraph
1.
(3) rules for trading on the over the counter market must ensure
and the proper functioning of the market)
(b)) limit the possibility of a conflict of interest between the customers and the
c) honest, qualified and fair waste customer instructions
the transactions on an organised market by investment
tool.
(4) cash and investment tools entrusted to the Organizer
the OTC market for the purpose of effecting transactions on it
an organised market and earned for these values to the customer are not
the property of the organizer of the OTC market, nor part of his bankruptcy
essence. In the case of the bankruptcy insolvency administrator is obliged to
to issue the asset without undue delay to customers; for the issue of
This property applies to section 132, mutatis mutandis.
(5) the organizer of the OTC market in the management of the property referred to in
paragraph 4
and separately) leads its own cash and cash
entrusted to it by the customer and accounts for the assets of the customer separately from their
assets,
(b)) does not use this property to trade on behalf of persons other than the customer,
These assets are entrusted to him, or for which it was obtained, and
(c)) shall ensure unique identification of assets so that cash
client funds leads to a special bank account, and internal
Regulation adjusts the separate handling of funds from customer
dealing with their own funds.
(6) the organizer of the OTC market
and) organizes the OTC market with professional care in accordance with the rules
trading on the over the counter market,
b) informs the customer completely, truthfully and clearly of the essential
the facts related to the implementation of the it transactions
an organised market, in particular, it shall draw attention to the fact that the Organizer
the OTC market does not consider whether the investment tools
which the customer intends to pursue on the OTC market transactions,
or services provided or offered by the organizer of the OTC market
suitable for the customer, that the implementation of these transactions on the
market and on the provision of those services are not covered by the rules negotiations
customers as the brokerage house, and that investing in the
the capital market can be risky; the organizer of the OTC market
This warning may be provided in a standardised format,
(c) informs the customer about transactions) carried out on over the counter
the market on the basis of the instructions of the customer, in the manner and within the time limits
laid down in the rules of the trading on the over the counter market, and
d) used when promoting their services truthful information.
(7) the OTC market Organizer shall submit
and) no later than 4 months after the end of the accounting period, its annual
the report and the consolidated annual report, according to a special legal
the rules relating to accounting, if under such regulation shall
to prepare this report, which includes the financial statements certified
the Auditor,
(b)) no later than 1 month after the end of the calendar quarter results
their management during the past quarter, and
c) once a year, not later than 1 month after the convening of the ordinary general meeting,
list of people who should be on it as of the date of the general meeting, or
the date of the previous filing date list, qualifying holdings and that
with him were closely linked to this date, if known.
(8) the organizer of the OTC market reports and publishes information referred to in
paragraph 7 (b). a) and b) without undue delay after their submission
The Commission in a manner allowing remote access. ".
76. In section 82 para. 2 (a). a), the words ' in paragraph 4 "the words"
, not counting the investment company ".
77. In section 82 para. 4 the provisions of the introductory part, the words "can be"
Inserts the word "only".
78. In section 82 para. 4 (d)):
"(d)) investment company for the purpose of settlement of investment
tools that worked as customer assets ".
79. In paragraph 82, at the end of paragraph 6 the following sentence "operator
the securities settlement system is a participant in the securities settlement system, which
operates. ".
80. in § 83 para. 3 (b)):
"(b)) which may be a participant in the securities settlement system (§ 82 para. 4 and
5),".
81. In paragraph 83 of section 83.3 3 at the end of subparagraph (f)), the comma is replaced by a dot and the
the letter g) shall be deleted.
82. In § 86 para. 2 (a). (b)), the words "§ 83 para. 5 "shall be replaced by the words" §
paragraph 82. 5. "
83. In § 86 para. 3 of the introductory part of the provisions, the word "delivery"
shall be replaced by "saving".
84. In § 88 para. 4 at the end of subparagraph (b)) is replaced by a comma and dot
the following point (c)), which read as follows:
"(c)) shall notify the Commission without delay the emergence of and their participation in the
each of these securities settlement systems. ".
85. In § 89 paragraph 1. 1, after the word "inform" the words
"through the Ministry of".
86. In section 93 para. 4, after the words "register of investment instruments"
the words "persons referred to in paragraphs 2 and 3."
87. In § 94 paragraph. 1 (b)):
"(b)) for a person who is not the owner of investment instruments that registered
on this account, which keeps records of building on the central register
the depositary or on separate registers (hereinafter referred to as "customer account"). ".
88. In § 94 paragraph 2 reads as follows:
"(2) the securities account must contain information about the person for whom it is conducted,
and for natural persons, whether or not your social security number. On the securities account is maintained
at least the investment tools separately transferable rights associated with
investment instruments, liens on investment tools and
the suspension of the exercise of the right of the owner to dispose of the book-entry
investment instruments. Furthermore, the details of the person authorized to register this
rights and details about the person that is secured by the lender. U
natural persons authorized to exercise these rights and the natural person
is a mortgage lender, is also a social security number. If a natural person
has not been assigned a social security number, the date of her birth records. U
securities on records the limitation of the right to dispose a valuable
the paper set out by the issuer. The rules of operation of the CSD (§
104) in the central register and the implementing legislation (article 93 (4)) for
a separate register sets out what information the closer are recorded on
each type of property accounts. ".
89. In § 94 paragraph. 3, the words "for which the owner of the account is set up, if
the final decision of the Court of law, or otherwise show no evidence "shall be replaced by
"for which it is the owner of the account has been established, unless proof to the contrary".
90. in § 94 paragraph 4 is added:
"(4) on the customer account, you can register only investment vehicles that
their owners have entrusted to the owner of the account. ".
91. In § 94 paragraph 5 is added:
"(5) the CSD shall keep a central register of securities
the owners of accounts or accounts of customers. ".
92. In § 94 paragraph. 6, after the words "the follow-up to" the following Word
"Central".
93. In § 94 paragraph 9 is added:
"(9) Central Register of securities, led by CSD
separate records of dematerialized investment securities of open
mutual fund and a separate register of securities, led by Czech
the National Bank shall be also in the records. In the register of emissions
details about the person of the issuer and of the securities
in accordance with paragraph 2. Issue with leads on the basis of a contract with the
by the issuer. The legal relationship between the issuer and the person who keeps records of
emissions shall be governed by the commercial code, unless this Act provides otherwise.
The Czech National Bank establishes the rules of keeping records of emissions in the production
regulations published pursuant to § 93 para. 5. ".
94. In § 95 para. 1 the words "[§ 104 paragraph. 1 (b). j)] "shall be replaced by
"specified operational regulations of the CSD (section 104), implementing
legal regulation on separate evidence (§ 93 (4)) or a production
regulations for keeping of securities of the Czech National Bank (§ 93
paragraph. 5) ".
95. In paragraph 95, at the end of paragraph 1, the following sentence "this does not affect
the provisions of § 99 paragraph 2. 3. ".
96. In § 95 para. 2 the first sentence, the words ", which contains all the
the data to be entered in the register "shall be deleted.
97. In § 99 paragraph 2. 2, the words "[§ 104 paragraph. 1 (b). j)] "shall be replaced by
"specified operational regulations of the CSD (section 104), implementing
legal regulation on separate evidence (§ 93 (4)) or a production
regulations for keeping of securities of the Czech National Bank (§ 93
paragraph. 5) ".
98. in paragraph 99, the following new sections 99a, which reads as follows:
"§ 99a
(1) a person who keeps records of investment instruments, it shall
keep this register and all documents relating to the information entered
in these records for a period of 12 years from the end of the calendar year in which the
the information in the register has been written.
(2) a person who keeps records of investment instruments, is entitled to
provide details of the evidence and documents stored in accordance with
paragraph 1 without the consent of the person for whom he was a securities account is established,
only if provided for by this Act or special legislation, and
in cases where the complaint is served. ".
99. In paragraph 100, the following paragraph 4 is added:
"(4) the CSD is responsible for damage suffered by individuals, for which leads
securities accounts or records of emissions caused as a result of errors or
incompleteness in such accounts or in this register. For damage caused by
error or incompleteness in the information received from the Central Depositary
the owner of the customer's account pursuant to § 111 paragraph. 3-5, corresponds to the account holder
customers. ".
100. In § 103 para. 2 (a). and), after the words "joint-stock company"
the words "established in the Czech Republic".
101. In § 103 para. 2 (a). (b)), the word "shall" be replaced by
"shall".
102. In § 103 para. 2 (a). (b)), the words "under a special legal
the rules relating to archives, "shall be replaced by" pursuant to section 99a, ".
103. In article 104, paragraph 4 reads:
"(4) the rules of operation of the CSD or its change shall become
effective immediately upon publication, unless the CSD date
later. Change in operational instructions cannot publish previously takes
the legal force of the decision of the Commission on its approval in accordance with paragraph 2. ".
104. in paragraph 104, the following new Section 104a, 104b and including headings
shall be added:
' paragraph 104a
Acquisition and loss of participation in CSD
(1) the person or persons acting in concert must have the prior consent of the
The Commission
and the acquisition of a qualifying participation) in the Central Depositary, unless the
the acquisition of the transition of ownership rights to securities,
(b)) to achieve or exceed the qualified participation 20%, 33% or 50%
on the Central Depositary, unless it is a reaching or exceeding the participation
the transition of ownership rights to securities, or
(c)) to have become the persons controlling the CSD
If they do not become the transition of ownership rights to securities.
(2) in calculating the participation of the persons referred to in paragraph 1 on the Central
the depositary shall be counted and the voting rights of the securities
and on account of the person) that referred to in paragraph 1 holds in his name the other
person,
(b)) the disposal of the body controlled by a person referred to in paragraph 1,
(c)) at the disposal of another person that has entered into a contract with a person referred to
in paragraph 1 or with the controlled entity, in which each undertook to
in the long term to promote a common policy on management of the
the depositary that they will exercise voting rights in the conformity of
papers in their possession,
(d)) which, under a contract with a person referred to in paragraph 1 or with her
the controlled person holds another person, provided this agreement assumes
the temporary abandonment of the disposition of the voting interest of person referred to in
paragraph 1, or the controlled person in return for payment,
e) that were referred to in paragraph 1 is provided as security; It
does not apply if the disposition of voting rights was entrusted to a person
that has these securities in the custody, management, or on your property and
publicly stated that it will exercise such voting rights; in such a
the case of the voting rights of those securities added person
that is has in the custody, management, or their assets,
(f)) which are in the possession of another person if that person performs
the voting rights of those securities on your behalf according to the instructions of the person
referred to in paragraph 1 on the basis of the Treaty on the exercise of the voting rights.
(3) if the person, persons acting in concert or a person referred to in paragraph
2 are located in the Member State of the European Union, shall be subject to surveillance
supervisory authority of that Member State and intending to acquire the participation by
paragraph 1, the Commission shall request the opinion before taking a decision on this
supervisory authority.
(4) the request for approval referred to in paragraph 1 shall contain the information referred to in
paragraph 1 and the attached documents shall prove the facts
necessary to assess the suitability of the applicant in terms of healthy and
prudent management of the CSD, and to assess whether the narrow
the link of the applicant with the CSD do not prevent the effective exercise of
supervision of the CSD. Particulars of the application and its
Annex lays down detailed legislation.
(5) the Commission shall give a consent referred to in paragraph 1, if the applicant is a person
appropriate in terms of sound and prudent management of the CSD
and if its close links with the CSD shall not prevent
the efficient performance of supervision over the CSD.
(6) if the Commission has not sent to the applicant within three months from the date of receipt of
the request for approval referred to in paragraph 1 of the decision on such application, against
You can submit a decomposition, the approval was granted. If there is a
proceedings on the application is interrupted, this time limit is not running.
(7) the consent referred to in paragraph 1 may be granted subsequently.
(8) a person who acquires or increase a qualifying holding referred to in paragraph
1 the transition of ownership rights to securities is required to this
notify the Commission without delay.
(9) the person, persons acting in concert or a person referred to in paragraph 2
shall notify the Commission that the
and cease to operate the CSD),
(b) reduce their qualifying holding) to CSD under 50%,
33%, 20%, or it shall cease, or
c) transferred to another person by a qualified participation on the Central
to the depositary.
(10) the notification referred to in paragraph 9 containing the information about the notifier, details of
CSD and the level of participation of the notifiers on the Central
the depositary after the reduction; in the notice referred to in paragraph 9 (a). (c)) shall
also the data of the person to which a qualified participation by the converts.
(11) the acquisition or increase of holding referred to in paragraph 1 at the Central Depositary
without the consent of the Commission does not result in nullity of the document, but
the voting rights associated with such participation shall not be exercised until the
obtaining consent.
(12) the provisions of paragraphs 1 to 11 shall not apply in the case of the acquisition of holdings
a person specified in § 101 paragraph. 4 (b). e) to (h)), or (j)).
section 104b
The head of the person of the CSD
(1) the head of the person of the CSD shall not be
and the Deputy or Senator) Parliament of the Czech Republic,
(b) an employee of the Commission,)
(c) Bank Board) member of the Czech National Bank,
(d) the person or an employee), leading another CSD, or
foreign central depository; This does not apply if the Central
the depositary and other CSD or foreign central
the depositary are part of one group,
(e) the person or an employee), another operator of a securities settlement
system or foreign persons with similar business; It
does not apply if the CSD and another operator of a securities settlement
system or a foreign person with similar business are
part of one of the group.
(2) the condition of the performance of the senior management of the CSD is
the prior consent of the Commission. The provisions of section 10 shall apply mutatis mutandis. ";"
105. In § 105 para. 2, the words "its records including archival"
replaced by the words "registers and documents that the central depository
maintains under section 99a ".
106. In paragraph 105 paragraph 4 is added:
"(4) the business of the CSD may only be
the activities referred to in § 100. ".
107. In the title of § 107, "rent" is inserted after the word "enterprise".
108. in paragraph 107, the following new section 107a, including title and notes
footnote 1f:
"section 107a
The decline of the CSD
(1) If a permit has been withdrawn to CSD activities in
due to the Declaration of bankruptcy on its property, the receiver is
the substance of the duty to ensure the pursuit of the activity of the CSD, until
the performance of this activity is not assured another CSD, or
State and until another CSD, or State does not assume any
the register and the documents held by a CSD under section 99a. To
the exercise of that activity is not to be authorized to practice Central
the depositary.
(2) the liquidator shall without undue delay after the
the withdrawal of authorisation for the activities of the CSD to make a proposal to
conclusion of the contract for the sale of goods, rights and other assets,
that serve the operation of an undertaking of the CSD ^ 1f), including
records and documents kept by the CSD in accordance with § 99a.
(3) proposal for the conclusion of the contract referred to in paragraph 2 shall be made to the person,
that is the activity of the CSD. If there is no such
person or if there is no contract within 3 months from the date of
the proposal, the proposal shall be made at the conclusion of the contract referred to in paragraph 2
made on behalf of the State of which it is a Ministry.
(4) if the proposal on conclusion of the contract referred to in paragraph 2 of the State
does not include the purchase price. The purchase price shall be determined on the basis of expert opinion.
Unless the administrator in bankruptcy and the State on the person of an expert to
15 days from the date when the State made a proposal to conclude a contract in accordance with
paragraph 2, shall appoint the experts on a proposal from one of them to justice. If
2 have been submitted proposals for the appointment of an expert, the Court, the two things come together to
common control.
(5) the Court is not bound by expert design. Appointed by the Court-
expert seriously its obligations, on a proposal from the Court of the State or
the receiver shall withdraw and appoint another.
(6) the proceedings for the appointment of an expert or an appeal are the State,
the receiver and the expert. The competent court is the District Court,
the area in which the ordinary court of the CSD. On the proposal of the
the appointment or revocation of an expert, the Court must decide within 15 days from the date of
receiving the proposal. Decisions by the resolution.
(7) a reward for the report shall be borne by the State and its amount shall be determined
by the agreement. Unless the State of the receiver, and an expert on the
the amount of remuneration shall be determined by it, on the request of one of them, the Court that expert
his name was. About the experts reduces the purchase price by the State
CSD will pay.
(8) If a proposal to conclude a contract made pursuant to paragraph 2 of the State is
the State shall be obliged to accept it within 30 days from the date on which the opinion was drawn up
the experts referred to in paragraph 4.
(9) to the conclusion of the contract referred to in paragraph 8, the State does not need administrator
bankruptcy court approval or representation of the creditor committee.
(10) if the contract referred to in paragraph 8 is exercised by the State
the activity of the CSD is not secured until the performance of this
the activities of the other CSD and until another CSD
assume all evidence and documents held by the State under section 99a.
To perform this activity, does not need a State permit for the activity of the Central
the depositary.
(11) the State on behalf of which this Ministry, converts the securities
papers that leads according to paragraph 10, the person who has the authorization to
the activities of the CSD. The provisions of § 202 paragraph. 2 and 3 are
shall apply mutatis mutandis.
1F) § 27a of the Act No. 328/1991 Coll., on bankruptcy and settlement, as amended by
Act No. 74/1994 Coll., Act No. 94/1996 Coll. and Act No 105/2000 Coll. ".
109. In § 109 paragraph 1, the following paragraph 2 is added:
"(2) without the participant performs a write to a CSD
registration of securities only
and the issuer) for the command, which has concluded a contract with the Central
the depositary pursuant to § 111 paragraph. 1 if it is related to the entry in the register
emissions,
(b)) command to the person pursuant to § 115 paragraph. 1 if it is authorized to do so by
special legislation. ".
Paragraphs 2 to 8 shall become paragraphs 3 to 9.
110. In § 111 paragraph. 2 the first sentence after the word "extract" the words "of the
the evidence ".
111. In § 111 paragraph 3 reads:
"(3) for the purposes of the statement of the issue is the account holder customers
obliged to inform the CSD through the participant
the CSD data about the owner the owner of the account and other information
set the operational regulations. ".
112. In § 111 paragraph. 4 the first sentence, after the words "extract from Word
"evidence".
113. In § 111 paragraph. 4 the second sentence after the word "statement", the words "of the
the evidence ".
114. In § 111 paragraph. 5, in the first sentence after the word "extract" shall be replaced
"from the evidence".
115. In § 111 paragraph. 5 in the second sentence after the word "extract" shall be replaced
"from the evidence".
116. section 112 to 114 is referred to as title III.
117. The heading of title III is added: "the TRANSFORMATION of the FORM of the SECURITY."
118. In section 114 para. 1 the second sentence, the words ' the date of the decision on conversion "
replaced by the words "on the date of cancellation of registration of book-entry securities '.
119. In the seventh, the current title III, known as title IV.
120. in the heading of title IV, part seven: "the PROVISION of DATA by the PERSON
HEAD OF THE REGISTER OF INVESTMENT INSTRUMENTS ".
121. In article 115 paragraph. 1 introductory part of the provisions, the words "owner
investment instruments denominated in their recording "shall be replaced by" of the
records and documents that are required to be kept under section 99a para.
1. "
122. In paragraph 115 paragraph. 1 (b). and) the words "which is the owner of the
investment tools, "shall be deleted.
123. In paragraph 115 paragraph. 1 (b). (c)), the words "which is the owner of the
investment tools, "shall be deleted.
124. In paragraph 115 paragraph. 1 (b). (d)), the words "which is
the owner "shall be replaced by the" owner ".
125. In paragraph 115 paragraph. 1 the letter i) deleted.
Letter j) is referred to as the letter i).
126. In paragraph 115 paragraph. 2 the words "the owner of securities registered in the
her recording "shall be replaced by" of the evidence and documents, which is
required to be kept under section 99a para. 1. "
127. In paragraph 115 paragraph. 3, the words "at its request and" are deleted.
128. In paragraph 115 paragraph. 4, the words "the owner of securities registered in the
her recording "shall be replaced by" of the evidence and documents, which is
required to be kept under section 99a para. 1. "
129. In paragraph 115, paragraph 5 is added:
"(5) the CSD and the person who leads a separate register, has
When providing information to the persons referred to in paragraph 1 shall be entitled to such
persons on the reimbursement of costs incurred. The method of determining the amount of the
incurred costs in kind and method of remuneration lays down detailed
legislation. ".
130. In paragraph 116 of paragraph 1. 3, after the words "regulated market", the words ",
the deadline for reporting these transactions ".
131. In paragraph 118, at the end of paragraph 1, the words "in the Czech language;
issuer headquartered abroad can, and the consolidated annual report
publish an annual report in a manner allowing remote access and send
The Commission only in the English language ".
132. In section 119 paragraph 1. 1 at the end of the first sentence, the words "in Czech
language; issuer headquartered abroad can publish a half-yearly report
manner allowing remote access and send to the Commission only in English
the language ".
133. In paragraph 120, the following paragraph 6, including footnotes.
1 g:
"(6) the issuer of the securities quoted at least once a year without
undue delay after publication of the final accounts shall publish and forward to the Commission
in electronic form of a document that contains or refers to all
information which the issuer for the previous 12 months in the United
Republic in the fulfilment of the obligations under this Act, the business
the Penal Code and the law governing accounting or in one or more
other Member States of the European Union or in another State, in discharging
their obligations arising from the law of the European Communities ^ 1 g) and
national legislation regulating business in the capital
the market. In the event that the document only refers to the published information, the
the issuer, where such data can be obtained. This obligation shall not apply to
issuers of only debt securities whose nominal value or
price per 1 piece is equal to the amount corresponding to at least EUR 50 000. For this
the provisions of § 34 paragraph 2 shall apply mutatis mutandis. 2.
1 g) European Parliament and Council Regulation (EC) No 1606/2002 of 19 November 2002.
July 2002 on the application of international accounting standards.
European Parliament and Council Directive 2001/34/EC of 28 June 1999. May 2001
on the admission of securities to listing on the stock exchange and the
the information to be disclosed to them, as amended by Directive
2003/6/EC.
Fourth Council directive of 25 June. July 1978, based on article. paragraph 54.
3 (b). g) of the Treaty on the annual accounts of certain forms of
companies (78/660/EEC), as amended by Council directives 83/349/EEC, 84/569/EEC,
89/662/EEC, 90/604/EEC, 90/605/EEC, 94/8/EC, 1999/60/EC and directive
European Parliament and Council Directive 2001/65/EC.
Seventh Council directive of 13 December. June 1983 based on the article. paragraph 54. 3
(a). g) of the Treaty on consolidated accounts (83/349/EEC),
the texts of Council Directives 89/662/EEC, 90/604/EEC, 90/605/EEC and directive
European Parliament and Council Directive 2001/65/EC ".
134. In § 122 para. 2 the initial part of the provision, the words "and voting
rights under section 11 (1) 2 voting rights "shall be replaced by the words" mutatis mutandis
voting rights referred to in section 11 (1) 2 and the voting rights of
papers ".
135. In § 122 para. 2 (a). and) the words "the person referred to in subparagraphs) up to
(f)) "shall be replaced by the words" any other person similar to the person referred to in section 11 (1) 2. "
136. In § 122 para. 2 (a). (b)), the word "which" shall be replaced by "that"
and the words "securities dealer" shall be replaced by the word
"the issuer".
137. In § 122 para. 12 is the number "12" is replaced by "11".
138. In paragraph 123, at the end of paragraph 1, the words "in Czech or
the English language ".
139. In paragraph 124, paragraph 1 reads:
"(1) for the internal information, for the purposes of this Act, shall be considered accurate
information that directly or indirectly refers to the investment facility or
another tool, which has been admitted to trading on a regulated market
the Member State of the European Union or the admission to trading on
regulated market of a Member State of the European Union has been requested (hereinafter referred to as
"financial instrument"), another tool that has not been admitted to trading
on a regulated market of a Member State of the European Union and whose value is
derived from the financial instrument, the issuer of such financial instruments
or other facts relevant for the development of a course or other prices such
financial instrument or its yield, if this information is not publicly
known and if they then what would become a publicly disclosed, could significantly
affect the rate or yield of the financial instrument or other
instruments whose value derives from this financial instrument. ".
140. In section 124 para. 4 (b). and), the word "investment" is replaced by
"financial".
141. In section 124 para. 4 (b). (b)), the word "investment" is replaced by
"financial".
142. In section 124 para. 4 (b). (c)), the words "its obligations or
of employment "shall be replaced by" its normal activities, obligations or
job ".
143. In paragraph 124, paragraph 5 is added:
"(5) a securities dealer, Bank, electronic money institutions,
savings and credit cooperative and institutional investor that has
reasonable suspicion on the use of inside information at the conclusion of the trade,
shall inform the Commission without undue delay. These persons are obliged to
keep confidential this notice. ".
144. In paragraph 124, the following paragraph 7, including footnotes.
1 h:
"(7) the provisions of paragraphs 1 to 4 shall not apply to the proceedings of the
buy-back of own investment instruments or price stabilisation
the investment facility under the terms of a directly applicable legal
Regulation of the European communities, implementing directive
The European Parliament and of the Council on market abuse ^ 1 h).
1 h) Article. 8 European Parliament and Council Directive 2003/6/EC.
Commission Regulation (EC) no 2273/2003 of 22 July 2003. December 2003 laying
performed by European Parliament and Council Directive 2003/6/EC as regards the
exemptions for buy-back programmes and stabilisation of financial
instruments. ".
145. In paragraph 125, paragraph 1 reads:
"(1) the issuer of a financial instrument shall publish without delay in a manner
allowing remote access and to the Commission in electronic form each
internal information that directly affects him; the published information shall
be clear and must not be biased. The obligation in the first sentence
does not apply to the issuer of the financial instrument, the adoption of the financial
tools to a regulated market or didn't ask the adoption disagree. ".
146. In paragraph 125 of paragraph 1. 2 the second sentence after the word "reasons" the words
"the postponement and the content of this inside information."
147. In paragraph 125, at the end of paragraph 4, the following sentence "the obligation pursuant to sentence
the first does not apply to the issuer of the financial instrument on the adoption
regulated market or didn't ask the adoption disagree. ".
148. In paragraph 125, paragraph 5 is added:
"(5) the head of the person of the issuer and a person who is a member of the supervisory body
the issuer, her husband, and her dependent children, other relatives, who with
live in the same household for at least one year, and
other persons who are to head to the person of the issuer or member of the supervisory
the authority of the issuer of the proportion of the family or the equivalent, they live with her in the common
the home for at least one year, and the injuries they suffered, one would
of them, the other would reasonably have felt it as detrimental to their own, or legal
persons, in which these persons are senior management or members of the
the supervisory authority, which is controlled by such persons or whose
economic interests are to a significant degree consistent with the economic interests of the
such persons shall send the Commission a notice about the transaction in securities
certificated by the issuer or financial instruments, derived from the
These securities that you have made on their own account, within five days
from the date of implementation of the transaction. The Commission, by this notice, without undue
delay publish a manner allowing remote access. ".
149. In paragraph 125, paragraph 6 is added:
"(6) persons who, in connection with the exercise of their profession or business
make up or extend the investment recommendations, or persons linked to them
must make all reasonable care to ensure that the information provided has been
honestly expressed and presented, and at the request of the Commission to be able to demonstrate
the merits of an investment recommendation. It must include or disclose
their interests or conflicts of interest concerning the financial instruments that are
the subject of the investment recommendation. Investment advice for the purposes of
This Act, the
and information from the merchant) in securities, banks, other persons whose
main business is making investment recommendations, or
a natural person working for them under a contract of employment or
otherwise, that, directly or indirectly recommends a particular
investment decisions relating to a financial instrument or an issuer of
of the financial instrument,
(b)) information by persons other than the persons referred to in point (a)), which
directly recommends a particular investment decision concerning the financial
Tools,
including the opinion about the present or future value or price
such financial instruments, if it is intended for the public, or can be
its publication reasonably assume. ".
150. In paragraph 125 of paragraph 1. 7 (c)):
"(c)) fair representation and presentation of investment recommendations by
paragraph 6 ".
151. In paragraph 126, paragraph 1 reads:
"(1) market manipulation is for the purposes of this Act, a hearing
persons who may
and distort the picture of the participants) the capital market with a value menu
or demand a financial instrument, or
(b) another way to skew the course) financial instrument. ".
152. In paragraph 126 of paragraph 1. 2 (a). a), the words "practices generally" shall be replaced by
"market-based procedures".
153. In paragraph 126 of paragraph 1. 2 (a). (b)), the words "do not know or" shall be deleted.
154. In paragraph 126 of paragraph 1. 2 (a). (e)), the word "investment" is replaced by
"financial" and the word "investment" is replaced by "financial".
155. In paragraph 126 of paragraph 1. 2 (a). (e)), after the word "instruments", the words "for the
the conditions laid down by law directly applicable
EV 126.2. eropských implementing the Community directive of the European
Parliament and of the Council on market abuse ^ 1 h) ".
156. In paragraph 126 of paragraph 1. 3, after the word "communicate" the words
"through the Ministry of".
157. In paragraph 126, paragraph 5 is added:
"(5) a securities dealer, Bank, electronic money institutions,
savings and credit cooperative and institutional investor that has
reasonable grounds for believing that a trade may be market manipulation
inform the suspect without undue delay to the Commission. These persons
they are required to maintain the confidentiality of this notice. ".
158. In § 126 paragraph 6 is added:
"(6) the implementing legislation shall, in accordance with the law of the European
(3) the rules for the examination of) more detailed handling
2004. ".
159. In paragraph 126, the following paragraph 7 to 13, including the notes below
line # 1i:
"(7) the Commission acknowledges the market practices referred to in paragraph 2 (a). and emits)
that opinion. The Commission has before it shall give its opinion on the recognition of
the market practice concerned, consult its opinion with representatives of issuers,
investment services providers, investors, Ministry, supervisory
authorities and the organisers of regulated markets ^ 1i).
(8) the procedure for the recognition of the market referred to in paragraph 7, the Commission shall take into account the
the structural characteristics of the relevant market, in particular whether it is appropriate
a regulated market or not, what kinds of financial instruments are
the market traded and what is the type of participant and the relevant market,
including taking account of retail investors participation in the relevant market. When
recognition of market practice referred to in paragraph 7, the Commission shall take into account, in particular, further
as to whether
and market practice under consideration) is sufficiently transparent to the entire market,
(b) the market under consideration procedure) does not jeopardise the functioning of market forces,
in particular, that will not be threatened by the forces of supply and demand; The Commission analyses the
above all, the impact of the market under consideration of the procedure on the main market parameters,
such as the specific market conditions before the
market practice under consideration, weighted average prices of the relevant financial
tools within one business day, or the day the final price,
(c) market practice under consideration does not compromise) with liquidity and efficiency of the relevant
market,
(d)) under consideration market practice respects trade mechanisms common to
the relevant market and enables market participants to react properly and in a timely manner to
the market situation of the market caused by the procedure,
e) market practice under consideration does not compromise the integrity of all directly or indirectly
the interconnected markets of Member States of the European Union, on which it is traded
with the relevant financial instrument, regardless of whether these markets
regulated,
f) has already been under consideration market practice considered competent authorities of another
the Member State of the European Union, and with what result, in particular, whether this
market practice does not violate rules or regulations against market abuse or
other rules of conduct, whether in the relevant market or in other markets in the
the Member States of the European Union, which are the relevant market directly or
indirectly linked.
(9) the use of the new market practices cannot be regarded as tampering with
the market just because these market practices have not been recognized by the Commission in advance.
(10) the Commission shall revise the accepted market practices, especially when
significant changes in the market environment, such as changing the
business rules or to market infrastructure.
(11) the Commission will publish the manner allowing remote access views
concerning the recognition of market practices, including a description of the market
processes and factors referred to in paragraph 8, which has taken in its
decision making into account. The Commission shall address an opinion concerning the recognition of
market practice without undue delay to the European Committee of regulators
securities markets.
(12) If a initiated administrative proceedings concerning the market practice,
the Commission may suspend the consultation procedure under paragraph 7 on
This market procedure, until the final completion of this
control.
(13) a market practice which was accepted in accordance with paragraphs 7 to 12, shall not
be changed otherwise than under the procedure set out in paragraphs 7 to 12.
1I) Article. 2 and 3 of Commission Directive 2004/72/EC of 29 April 2004. April 2004, which
implementing European Parliament and Council Directive 2003/6/EC as regards the
accepted market practices, the definition of inside information in relation to
derivatives on commodities, the drawing up of lists of insiders, the notification of
managers ' transactions and the notification of suspicious transactions ".
160. In section 128 paragraph 1. 2 letter a) is added:
"a) accepts contributions from securities dealers,".
161. In section 128 paragraph 1. 8 (b)):
"(b)) in the case of negligence up to a total amount of 100 000 Eur for the whole period
performance of their duties. "
162. In section 128 paragraph 1. 10 the second sentence reads: "the guarantee fund can also accept
loan or repayable financial assistance. ".
163. In section 128 paragraph 1. 11 (b)):
"(b)) loan repayments or returnable financial assistance,".
164. section 129:
"§ 129
Payment of the contributions to the guarantee fund
(1) a securities dealer shall apply to the guarantee fund annual
a contribution of 2% of the amount of fees and commissions received for
investment services provided over the last year.
(2) the annual contribution of at least $ 10,000, and regardless of the number of
the months in which a securities dealer carries out its activities.
(3) the contribution to the guarantee fund is payable each year to 31. March,
and for the previous calendar year. ".
165. in paragraph 129, the following § 129a including title, which reads as follows:
"§ 129a
Review of contribution payment
(1) without delay after the expiry of the period referred to in section 129 para. 3 inform the guarantee
the Fund to the Commission on the amount of contributions paid by each individual merchant
securities for the previous period.
(2) the Commission will compare the amount of the actually paid contributions referred to in paragraph 1
with the volume of received commissions for provided investment services
for the last year identified on the basis of the data verified by an auditor
received from the dealer of securities pursuant to section 16 para. 1 multiplied by a
the appropriate percentage rate pursuant to § 129 para. 1. in the case of detection of
the difference the Commission shall adopt appropriate measures to remedy. The Commission shall inform
the identified differences and the measures taken to remedy the guarantee fund;
If this is a Merchant Bank, the Commission shall inform also the Czech national
Bank. ".
166. In section 130 is at the end of paragraph 4, the following sentence "the fact that this
period has expired, cannot be invoked to deny paying the refund of
The guarantee fund ".
167. In paragraph 130 paragraph 1. 5 points), and (c)) shall be deleted.
Subparagraph (b)) is referred to as the letter a) and subparagraph (d))
to (h)) shall be renumbered as subparagraph (b)) to (f)).
168. In § 130 paragraph 8 reads as follows:
"(8) compensation from the guarantee fund is provided for the assets of the customer,
He could not be released for reasons directly related to the financial
situations, the brokerage house. For the calculation of the refund on the date on
to which the guarantee fund received a notification, the Commission referred to in paragraph 1,
the values of all components of the customer's assets which could not be released from the
for reasons directly related to the investment firm's financial circumstances
the papers, including his co-ownership share of the assets in the
joint ownership with other customers, with the exception of cash values
funds entrusted to the securities trader, which is a bank
or a branch of a foreign bank, and held it in the accounts of the insured
under a special law regulating the activities of banks ^ 1a). From the resulting
the amount to be subtracted from the value of the obligations by the customer to the merchant with the securities
papers are due on the date to which the guarantee fund received notification
The Commission referred to in paragraph 1. ".
169. In paragraph 130 paragraph 1. 9, the second sentence is replaced by the phrase "in the calculation of the refund
the guarantee fund may take account of the contractual arrangements between the merchant
Securities and the customer, if the usual, especially to a truly
funds to interest or other revenues, on which the customer is entitled
on the date the guarantee fund received a notification, the Commission referred to in paragraph 1. ".
170. In paragraph 130 paragraphs 11 and 12 are added:
"(11) compensation from the guarantee fund must be paid within 3 months from the date of
verification of entitlement and of calculating the amount of logged-in compensation. The Commission may, in
exceptional cases at the request of the guarantee fund of this deadline
a maximum of 3 months.
(12) a securities dealer shall provide the guarantee fund on its
request within the time limit set by the guarantee fund documents required for
calculation of compensation in accordance with paragraphs 8 and 9. If the trader
papers introduced the receivership, has the duty of fiduciary, if
the assets of the brokerage house declared bankruptcy, has this
the obligation of the trustee in bankruptcy of the investment firm's
the papers. The same requirement is, unless the guarantee fund will invite other
person, if these documents to each other. ".
171. In paragraph 130, the following paragraph 13, which read as follows:
"(1) the supporting documents referred to in paragraph 12 shall contain for each customer, in particular,
the following information:
and) currency and the amount of cash and the type, number, and a unique
identification of investment instruments that make up the assets of the customer, and
that could not be issued according to § 132,
(b) the amount of the claims of the customer for) as a dealer in securities, incurred
on the basis of contractual provisions, in particular actually credited interest or
other earnings, on which the customer be entitled to
(c) the amount of the eligible claims) a securities dealer to
customer. ".
172. In paragraph 131, the following shall be added at the end of paragraph 1, the sentence "If the
the receivable has already opted in to the bankruptcy of the investment firm's assets
the papers, the guarantee fund in the same moment and in the same range
bankruptcy creditor brokerage house in bankruptcy instead of
customer. At the request of the guarantee fund shall be marked by the insolvency administrator
the essence of this change without undue delay in the list of subscribed
Receivables ^ 4). ".
Footnote 4:
"4) section 20(1). 5 of the Act No. 328/1991 Coll., on bankruptcy and settlement in
as amended. ".
173. In paragraph 131 of paragraph 1. 2 the words "the commencement of payment of compensation" shall be replaced by
"due the customer on payment of compensation".
174. In paragraph 131 of paragraph 1. 3 third, the following sentence is added: "If the guarantee
Fund a loan under the first sentence may, at his request, provide
become repayable financial assistance in needed amount. ".
175. In paragraph 131, paragraph 4 shall be deleted.
The present paragraph 5 shall become paragraph 4.
176. In section 132 is at the end of paragraph 5, the following sentence "the Commission may
to propose to the competent court to absolve the administrator in bankruptcy
function. In this case, the Court shall proceed by analogy with the provisions of
acquittal on a proposal from the administrator in bankruptcy of the Subscriber of the bankruptcy
proceedings under the law governing bankruptcy and settlement ^ 5). ".
Footnote # 5 reads as follows:
"5) § 8 para. 6 of Act No. 328/1991 Coll., as amended by Act No 105/2000
Coll. ".
177. In § 133 paragraph 2. 1 the words "If the standard compensation of
the guarantee system, of which it is a party, is the same as or higher than the
the standard of compensation from the guarantee fund and, if the rules of the
the guarantee system allow the payment of refunds when providing investment
services in the Czech Republic. Participation in the international guarantee system and the amount of
provided by the foreign person must prove to the Compensation Commission, which
decides on the participation of the person in the guarantee system zabezpečovaném
guarantee fund. ' shall be deleted.
178. In § 133 paragraph 2. 2, the words ", or is a party to such a guarantee
system, but the compensation provided by this guarantee system
do not apply to the assets of customers entrusted to that person in the Czech Republic "
shall be deleted.
179. In paragraph 133, at the end of paragraph 2 the following sentence "to the guarantee fund
contribution and is paid shall be paid compensation for the assets given to the customer
foreign person when providing investment services in the United
Republic. ".
180. In § 133 paragraph 2. 3, the word "připojistí" shall be replaced by "may
arrange additional insurance ".
181. In paragraph 133, paragraph 4 shall be deleted.
182. In paragraph 135 para. 1 at the end of the letter y) dot is replaced by a comma and
the following letter from), which read as follows:
"from) the person asking for admission to trading on a
the official market. ".
183. In § 136 paragraph. 1 at the end of the letter h) dot is replaced by a comma and
the following letter i) and j) are added:
"i) prohibit or suspend for a maximum period of 10 working days the public
the offering of securities or the admission of a security to trading on a
the official market,
j) prohibit or suspend the promotion or announcement relating to the public
offer or admission to trading on a regulated
market ".
184. In paragraph 145, the following paragraphs 6 and 7 are added:
"(6) the Commission cancels the registration made under this Act to any person,
and on whose property was) bankrupt, rejected a proposal for a declaration of
bankruptcy for lack of assets or settlement has been enabled, or
(b)) which the Court or administrative authority has banned the activity.
(7) the Commission may revoke the registration made under this Act,
If
and) a person who has been registered, has not begun within 12 months from the date of
a registration is made to carry out the activity for which it was registered,
(b)) a person who has been registered, does not longer than 6 months
the activity for which it was registered,
(c)) registration was carried out on the basis of false or incomplete
data,
(d)) a person who has been registered, repeatedly or seriously
violates the obligations laid down in this Act,
e) there has been a serious change the facts on the basis of which has been made
registration. ".
185. In § 146 paragraph. 4 the second sentence, the words "Commission of the European
the community and "shall be deleted and the end of the second sentence, the words" and
through the Department of the European Commission ".
186. In paragraph 154 para. 1 the second sentence, the words "for the calculation of ' shall be deleted.
187. In paragraph 155, at the end of paragraph 1, the following sentence "the scope and details of
the internal control mechanisms shall adopt detailed legislation. ".
188. In § 157 paragraph. 1 points and) and (b)) shall be deleted.
Subparagraph (c)) to (p)) are known as letters and) to (n)).
189. In § 157 paragraph. 1 letter e) including footnote No. 6 reads as follows:
"e) violates the obligations laid down by special legislation ^ 6) for
the conclusion of contracts on financial services negotiated at a distance,
6) civil code. ".
190. In § 157 paragraph. 2 (a)) shall be deleted.
Subparagraph (b)), and (c)) shall become letters and) and (b)).
191. In § 157 paragraph. 2 (a). and) the words "c) to (h))" shall be replaced by "and)
to (f)) ".
192. In § 157 paragraph. 2 (a). (b)), the words ' i) to p) "shall be replaced by" g)
up to n) ".
193. In paragraph 158 of the letter g) is added:
"g) violates any of the obligations laid down by special legislation ^ 6) for
the conclusion of contracts for financial services at a distance ".
194. In § 160 paragraph. 1, point (b)) shall be deleted.
Subparagraph (c)) to) shall become point (b)) to (j)).
195. In § 160 paragraph. 1 (b). e), the words "(§ 42)" is replaced by "(§
43) ".
196. In § 160 paragraph. 2 (a). and the words ' and)) to (d)) "shall be replaced by" and)
(c)) ".
197. In § 160 paragraph. 2 (a). (b)), the words "e) to)" are replaced by the words "d)
to j) ".
198. In § 161 para. 1, point (b)) shall be deleted.
Subparagraph (c)) and m) shall become point (b)) to (l)).
199. In § 161 para. 2 (a). and the words ' and)) to (f)) "shall be replaced by" and)
to (d)) ".
200. In § 161 para. 2 (a). (b)), the words "g) and m)" shall be replaced by the words "f)
to l) ".
201. In § 161 para. 1 (b). e), the words "(§ 42)" is replaced by "(§
43) ".
202. In section 162 para. 1, point (c)) shall be deleted.
Subparagraph (d)) to (g)) shall become point (c)) to (f)).
203. In section 162 para. 2 (a). and the words ' and)) to (d)) "shall be replaced by" and)
(c)) ".
204. In section 162 para. 2 (a). (b)), the words "e) to (g))" shall be replaced by "d)
to (f)) ".
205. In paragraph 164 of paragraph 1. 1, letter a) is added:
"and does not inform the Commission of the amendment) Regulations (§ 104 paragraph. 2),".
206. In paragraph 164 of paragraph 1. 1 letter c) is added:
"(c)) without undue delay, notify the Commission of any change in
the facts on the basis of which he was granted a permit to the activities
Central Depository (§ 103 (7)), ".
207. In paragraph 164 of paragraph 1. 1 (b). (d)), the words "(103 para. 1 and 7) "are replaced by
the words "(§ 103 para. 1 and 6) ".
208. In paragraph 164 of paragraph 1. 1 at the end of subparagraph (f)) is replaced by a comma and dot
the following point (g)), which read as follows:
"g) violates the obligation to keep the register of investment instruments and
documents concerning the data entered in the register (section 99a). ".
209. In paragraph 164 of paragraph 1. 2 (a). (b)), the word "f)" shall be replaced by "g").
210. In section 166 of the introductory part of the provisions, the word "Person" is replaced by
"Legal or physical person-entrepreneur".
211. In paragraph 166 (b)) shall be deleted.
Subparagraph (c)) and (d)) shall become point (b)), and (c)).
212. In paragraph 166 (a). (b)), the word "(section 115)" is replaced by "(section 93 para. 6
and § 115) "and the word" or "shall be deleted.
213. In paragraph 166, at the end of subparagraph (c)) the following the word "or".
214. In paragraph 166, the following point (d)), which read as follows:
"(d)) breaks the obligation to keep the register of investment instruments and
documents concerning the data entered in the register (section 99a). ".
215. In paragraph 167 of the introductory part of the provisions, the word "Person" is replaced by
"Legal or physical person-entrepreneur".
216. In paragraph 167, subparagraph (b)) shall be deleted.
Subparagraph (c)) and (d)) shall become point (b)), and (c)).
217. In paragraph 167 (a). (b)), the word "or" is deleted.
218. In paragraph 167, at the end of subparagraph (c)) the following the word "or".
219. In paragraph 167, the following point (d)), which read as follows:
"(d)) breaks the obligation to keep the register of investment instruments and
documents concerning the data entered in the register (section 99a). ".
220. In paragraph 168 of the introductory part of the provisions, the word "Person" is replaced by
"Legal or physical person-entrepreneur".
221. In paragraph 168, point b) repealed.
Subparagraph (c)) and (d)) shall become point (b)), and (c)).
222. In section 168 (a). (b)), the word "or" is deleted.
223. In paragraph 168, at the end of subparagraph (c)) the following the word "or".
224. In paragraph 168, the following point (d)), which read as follows:
"(d)) breaks the obligation to keep the register of investment instruments and
documents concerning the data entered in the register (section 99a). ".
225. § 170 including title:
"§ 170
Administrative offence printer operator
The operators of the printer, which prints the quoted securities without permission
(section 45 (1)), is fined $ 10 0000 0000 to. ".
226. In paragraph 171, the letter a) and b) shall be deleted.
Subparagraph (c)) to (h)) are known as a) to (f)).
227. In paragraph 171 (a). (d)), the word ' Commission ' shall be replaced by "the Commission".
228. section 172 and 173, including the title as follows:
"Administrative offences in the public offering of securities and investment
admission of securities to trading on the official market
§ 172
Legal or entrepreneurial natural person
and) publicly offers the securities without prior publication of a prospectus (§ 35),
(b) fails to comply with the rules for the promotion), and other communications relating to the public
offer or admission to trading on the official market
under § 36 k,
(c) fails to comply with the conditions for publication) of the prospectus and prospectus supplement pursuant to
section 36 h, or
(d)) does not make the corrective actions within the required period (section 136),
saves the fine to Eur 10 0000 0000.
§ 173
(1) a natural person has committed the offence by
and) publicly offers the securities without prior publication of a prospectus (§ 35),
(b) fails to comply with the rules for the promotion), and other communications relating to the public
offer or admission to trading on the official market
under § 36 k,
(c) fails to comply with the conditions for publication) of the prospectus and prospectus supplement pursuant to
section 36 h, or
(d)) does not make the corrective actions within the required period (section 136).
(2) for the offence referred to in paragraph 1 may be fine to 10 0000 0000 CZK. ".
229. in paragraph 173, the following new section 173a, 173b, and shall be inserted:
"§ 173a
Legal or natural person-entrepreneur, which was produced by a prospectus in
contrary to the rules for a copy of the prospectus (§ 36, § 36 g-36b, 36j) and
such a prospectus is published, is imposed to 10 0000 0000 CZK.
§ 173b
(1) a natural person is guilty of an offence that was produced by a prospectus in
contrary to the rules for a copy of the prospectus (§ 36, § 36 g-36b, 36j) and
such a prospectus is published.
(2) for the offence referred to in paragraph 1 may be fine to 10 0000 0000 CZK. ".
230. In paragraph 175 paragraph. 1, point (c)) shall be deleted.
Subparagraph (d)) to) shall become point (c)) to (j)).
231. In paragraph 175 paragraph. 2 (a). and the words ' and)) to (d)) "shall be replaced by" and)
(c)) ".
232. In article 175 paragraph 1. 2 (a). (b)), the words "e) to)" are replaced by the words "d)
to j) ".
233. In paragraph 176 of the introductory part of the provisions, the word "Person" is replaced by
"Legal or physical person-entrepreneur".
234. In paragraph 176, at the end of subparagraph (c)) the following the word "or".
235. In paragraph 176, the letter d) repealed.
Letter e) is renumbered as paragraph (d)).
236. In paragraph 177, the word "Person" is replaced by "legal or
entrepreneurial natural person ".
237. In paragraph 179, the word "Person" is replaced by "legal or
entrepreneurial natural person ".
238. section 181 and 182, including heading shall be added:
"Administrative offences of the person who fails to notify the market manipulation
§ 181
Legal or entrepreneurial natural person
and breach of the obligation to notify) of suspected market manipulation (article 126 of paragraph 1.
5), or
(b)) does not preserve the confidentiality of notifications of suspected market manipulation (§
paragraph 126. 5),
the amount of the fine will be saved to 20 0000 0000 CZK.
§ 182
(1) a natural person has committed the offence by
and notify suspected market) handling (section 126 (5)), or
(b)) does not preserve the confidentiality of notifications of suspected market manipulation (§
paragraph 126. 5).
(2) for the offence referred to in paragraph 1 may be to impose a fine up to Czk 20 0000 0000 '.
239. In paragraph 183, the word "Person" is replaced by "legal or
entrepreneurial natural person ".
240. section 185 and 186, including heading shall be added:
"Administrative offences of the person who fails to notify the use of inside information
§ 185
Legal or entrepreneurial natural person
and the obligation to notify) use of inside information (section 124 para.
5), or
(b)) does not preserve the confidentiality of notifications of suspected use of internal
information (article 124, paragraph 5),
the above is fined 10 0000 0000 CZK.
§ 186
(1) a natural person has committed the offence by
and does not notify the suspected use of) insider information (§ 124 (5)),
or
(b)) does not preserve the confidentiality of notifications of suspected use of internal
information (article 124, paragraph 5).
(2) for the offence referred to in paragraph 1 may be fine to 10 0000 0000 CZK. ".
241. in paragraph 186, the following new section 186a, which including the title reads as follows:
"§ 186a
Breach of confidentiality
(1) a natural person referred to in section 117 is guilty of an offence by
does not preserve the confidentiality of any information which would be relevant for the assessment of
the development of the capital market, or may significantly harm the person
using the services provided on the capital market and which has not been
published.
(2) for the offence referred to in paragraph 1 can be used to impose a fine of up to 500 000 CZK. ".
242. In paragraph 187 of the introductory part of the provisions, the word "Person" is replaced by
"Legal or physical person-entrepreneur".
243. In paragraph 187 at the end of subparagraph (b)), the words "or on the Central
Depositary (Article 104a (1)) ".
244. In paragraph 187 at the end of subparagraph (c)), the words "or on the Central
Depositary (Article 104a, para. 8 and 9) ".
245. In paragraph 187 (a). (e)), the word "or" is deleted.
246. In paragraph 187, the following points g) and (h)), which read as follows:
"g) make up or expands the investment recommendations contrary to the rules for
their fair representation and presentation rules for proof of their
the merits or the rules for disclosure of interests and conflicts of interest (section
paragraph 125. 6),
(h) fails to comply with the obligation to provide supporting documents) necessary for the calculation of the refund of
The guarantee fund pursuant to § 130 paragraph 1. 12. ".
247. In paragraph 189, after paragraph 1, insert a new paragraph 2 is added:
"(2) the insolvency administrator commits infraction by business
steps towards the issue of customer assets (section 80, paragraph 4, and section
132). ".
The former paragraph 2 becomes paragraph 3.
248. In § 189 para. 3, the words ' paragraph 1 ' shall be replaced by ' paragraphs 1
and 2 ".
249. In paragraph 190 paragraph. 1 (b). e), the words "and 76 ' is replaced by ' 76 and
section 104b paragraph. 1 ", the words" and section 75 para. 7 "is replaced by" paragraph 75.
7 and section 104b paragraph. 2 "and the word" or "shall be deleted.
250. In article 190 paragraph 1. 1, the following points (g) and (h))) are added:
"g) make up or expands the investment recommendations contrary to the rules for
their fair representation and presentation rules for proof of their
the merits or the rules for disclosure of interests and conflicts of interest (section
paragraph 125. 6),
(h) fails to comply with the obligation to provide supporting documents) necessary for the calculation of the refund of
The guarantee fund pursuant to § 130 paragraph 1. 12. ".
251. In paragraph 192, paragraph 4 shall be deleted.
Paragraphs 5 to 8 shall become paragraphs 4 to 7.
252. § 196 reads as follows:
"§ 196
(1) where this Act requires the disclosure of information in the territory of the United
Republic, published this information in the English language, unless
This law provides otherwise. The Commission may, after considering the particular circumstances of the
allow certain information to be available in the English language, if
It is in the interest of the investors.
(2) when disclosure of the information in a manner allowing remote access
This information must be disclosed in this way for at least three years, if the
unless otherwise provided in this Act. ".
253. In paragraph 199, paragraph 1 reads:
"(1) the Ministry shall issue a decree the method of determining the amount of incurred
material and method of payment of costs when providing the data Central
the depositary and the person who leads a separate register (§ 115 paragraph.
5).".
254. In § 199 para. 2 (a). a), the words ' § 103 para. 3.0 "
the words "section 104a of the paragraph. 4. "
255. In § 199 para. 2 (b)):
"(b)) the capital adequacy rules dealer of securities, which
There is no Bank (§ 9 (2)), on an individual and a consolidated basis,
capital adequacy rules the financial holding company on the
a consolidated basis (section 154 (1)), the scope and details of the internal
control mechanisms (section 155 (1)) and the scope of the information transmitted
a person included in the supervision on a consolidated basis, including the method and
the time limits for their transfer (article 154, paragraph 3), ".
256. In § 199 para. 2 i) deleted.
Subparagraph (j)) up with) are known as letters i) to r).
257. In § 199 para. 2 (a). l) after the word "way", the words "and
time limits ".
258. In § 199 para. 2 p) is added:
"p) rules for the assessment of market manipulation (article 126 of paragraph 1. 6),".
259. In § 199 para. 2 at the end of the letter r) dot is replaced by a comma and
the following letter s) is added:
"with) the rules for a fair presentation of the information pursuant to § 125 paragraph. 6 and
the rules for disclosure of interests and conflicts of interest (§ 125 (7)). ".
260. In § 202 of paragraph 1. 3, after the word "papers", the words ", with the exception of
records of decision issued by the Commission and registration notification
the obligations ".
261. In paragraph 202, at the end of paragraph 4, the following sentence "the communication on this day
the Ministry will announce in the statute book. ".
262. In § 202 of paragraph 1. 7 and 8, the words "§ 111 paragraph. 1 "shall be replaced by the words" § 94
paragraph. 9. "
263. In paragraph 202, the following paragraphs 9 and 10 are added:
"(9) the issuer of dematerialized investment securities of open mutual fund
registered in the register of the securities Centre held on the basis of
enable other legal person, the Commission may, with the consent of the
legal persons to notify the Center of securities and the Commission that these
the units will continue to be recorded in a separate register
investment instruments, which lead a person, which has led
the relevant part of the register of the securities Centre. The date of receipt
the notification to the issuer of dematerialized investment securities securities Centre
or a later date referred to in the relevant part of this notice
registration of the securities Centre is transformed into a separate registers
investment vehicles led by a person who has not yet led to the appropriate part of the
registration of the securities Centre. An issuer may make the notification referred to in
This provision, by the transfer of registration of securities Centre
papers on CSD.
(10) the issuer of dematerialized investment securities of mutual
the Fund, which are recorded directly in the Centre of securities, the
Centre of securities and notify to the Commission, that these units will be
continue to be recorded in a separate register of investment instruments, which
will the person designated by the issuer of the share certificates, which is referred to in
This law authorized to conduct separate evidence. Center for securities
paper passes to the person designated by the issuer pursuant to section similarly listing 113 para. 2.
Issue of an extract from the securities Centre must not do this in your
registration no registration relating to investment securities referred to in this
the statement. On the date of receipt of the statement shall cancel the securities Centre
registration of the securities in its records and registration of investment certificates
becomes a separate register under this Act. On the day following
After taking the excerpt securities shall be entered on the securities accounts and to
issue in a separate register. An issuer may make the notification
under this provision, no later than the date of the transfer of registration Centres
securities at CSD. ".
264. in paragraph 202, the following new section 202a, which reads as follows:
"§ 202a
For owners of investment instruments, whose accounts held in the register
Securities Centre Central Depositary, pursuant to section 202 and
who have not signed a contract with the central depository participant,
ensure that CSD these services:
and) keeping records of securities account of investment instruments in the range
provided for under this Act,
(b) the registration of the alteration in the register) emissions on the basis of the request of the issuer. ".
Article II
Transitional provisions
1. The date of commencement of the activities of the central depository Center
securities subject to the provisions of § 115 of paragraph 1. 5 of 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. Listing particulars and the closer the listing particulars approved by the
before the date of entry into force of this Act, is deemed to be a prospectus
securities approved pursuant to Act No. 256/2004 Coll., on business
capital market, in the version in force from the date of entry into force of this
the Act and its amendment, the provisions of Act No. 256/2004 Coll., on
the capital market, in the version in force from the date of acquisition
the effectiveness of this Act.
3. the prospectus of the bond program, approved before the date of the acquisition of
the effectiveness of this law, shall be considered the base prospectus approved by the
pursuant to Act No. 256/2004 Coll., on the capital market, as amended by
effective from the date of entry into force of this Act.
4. Listing particulars and the closer the prospectus, published
before the date of entry into force of this Act, is deemed to be a prospectus
the security posted pursuant to Act No. 256/2004 Coll., on business
capital market, in the version in force from the date of entry into force of this
the law.
5. Listing particulars and the closer the listing particulars approved by the
before the date of entry into force of this Act, and not neuveřejněný,
shall publish pursuant to Act No. 256/2004 Coll., on the capital market,
in the version in force from the date of entry into force of this Act.
6. the procedure for the approval of the prospectus, the narrower the prospectus
securities or their appendix, which began before the date of the acquisition of
the effectiveness of this law, shall be completed pursuant to Act No. 256/2004 Coll., on
the capital market, in the version in force from the date of acquisition
the effectiveness of this Act.
7. the contributions to the guarantee fund traders in securities (hereinafter referred to as
"Guarantee fund") for the year 2006 shall be calculated pursuant to § 129 para. 1 of the law
No. 256/2004 Coll., on the capital market, in the version in force from
the effective date of this Act; contributions to the guarantee fund for the
the year 2005 will be calculated according to the existing legislation.
8. time limits for the payment of compensation from the guarantee fund for claims that are logged on
before the effective date of this Act shall be governed by existing laws.
9. modification of the provision of a basis for the calculation of the compensation from the guarantee fund in the
the version in force from the date of entry into force of this law shall also apply to
claims that have logged on before the effective date of this Act, for which there has been
payment of all compensation.
10. the Securities and Exchange Commission may propose to the waiving of the administrator features
bankruptcy and the bankruptcy of securities dealers
initiated before the date of entry into force of this Act.
11. If the limitation period for the right of the customer to the payment of compensation from the
The guarantee fund began to run before the date of entry into force of this
the law, the beginning and the running of this period, the existing legislation.
12. If the customer before the effective date of this Act, signed on his
claim for securities trader into bankruptcy proceedings on
assets of the brokerage house, the guarantee fund on the date of
the effectiveness of this act instead of the customer's insolvency creditor
brokerage house in decline in the extent to which by this time
has paid compensation to the customer. At the request of the guarantee fund shall
the trustee in bankruptcy this change without undue delay in the list
registered claims.
Article. (III)
Regulation (EEC)
Decree No 263/2004 Coll., on the minimum requirements of a prospectus for a security
paper and short prospectus, is hereby repealed.
Article IV
The publication of the full text
The Prime Minister shall be empowered, in the collection of laws promulgated the full text
Act No. 256/2004 Coll., on the capital market, as is clear from
the laws of it changing.
PART TWO
cancelled
Article. In
cancelled
PART THREE
Amendment of the Act on public auctions
Čl.VI
In paragraph 5 of the law No. 26/2000 Coll., on public auctions, paragraph 2 reads as follows:
"(2) when the auction of securities shall apply mutatis mutandis the provisions of this
law, unless a special law governing the
the capital market does not provide otherwise. ".
PART FOUR
cancelled
Article. (VII)
cancelled
Article. (VIII)
cancelled
PART FIVE
Amendment of the Act on banks
Article. (IX)
In section 26 of Act No. 21/1992 Coll., on banks, as amended by Act No. 16/1998
Coll., Act No. 126/2002 Coll. and Act No. 256/2004 Coll., on the end of the
paragraph 3 dot replaced with a comma and the following letter h)
including footnote # 6a:
"h) violation of the obligations stipulated by special legislation ^ 6a) for
the conclusion of contracts on financial services negotiated at a distance.
6a) in the civil code. ".
Former footnote No. 6a to 6 c are referred to as comments below
line 6b to 6 d, and including references to footnotes.
PART SIX
Amendment of the Act on savings and credit cooperatives
Article. X
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 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. and Act No. 413/2005
Coll., is amended as follows:
1. In section 27b is a dot at the end of paragraph 1 is replaced by a comma and the following
the letter n) including footnote # 18a is inserted:
"n) violate the obligations laid down specific legislation for ^ 18a)
the conclusion of contracts on financial services negotiated at a distance.
18A) the civil code. ".
Footnote # 18a is referred to as a footnote
No. 18b, and including a reference to a footnote.
2. In section 27b para. 3, after the words "referred to in paragraph 1 (b). (c)) "
the words "and the n)".
PART SEVEN
Amendment of the Act on supplementary pension insurance with State contribution
Article. XI
In section 43b of the Act No. 42/1994 Coll. on supplementary pension insurance with State
contribution and on changes of some acts related to its introduction,
as amended by law No 377/2005 Coll., the dot at the end of paragraph 2 is replaced by
the comma and the following letter w) including footnote No. 13f
added:
"w) violates the obligations laid down special legal regulation 13f) ^ ^
the conclusion of contracts on financial services negotiated at a distance.
13F) civil code. ".
Former footnote No. 13f 13 g and are referred to as comments below
line # 13 g and 13 h, including references to footnotes.
PART EIGHT
cancelled
Article. (XII)
cancelled
PART NINE
Amendment of the Act on the Securities and Exchange Commission
Article. XIII
Law No. 15/1998 Coll., on the Securities and Exchange Commission, and amending and supplementing
other laws, as amended by Act No. 30/2000 Coll., Act No. 367/2000 Coll.
Act No. 366/2000 Coll., Act No. 312/2002 Coll., Act No. 256/2004 Coll.
and Act No. 626/2004 is amended as follows:
1. In section 6 is at the end of paragraph 1, the following sentence including notes
footnote 7a is inserted: "the provisions of the administrative procedure on the possible way
termination of decomposition ^ 7a) shall not apply.
7A) § 152 paragraph 1. 5 administrative procedure. ".
2. In paragraph 8, the dot at the end of paragraph 1 is replaced by a comma and the following
the letter d), which read as follows:
"(d)) when deciding on the request for the approval of the prospectus
to request such information and documentation from the heads of the people or of the auditor
issuer, a person who has produced a prospectus, or
brokerage house that securities places. ".
3. In paragraph 9a(1). 1 (b). (b)), the word "or" is deleted.
4. In section 9a, paragraph 2. 1, point (b)) the following new point (c)), which read as follows:
"(c)) as the head of the person of the issuer, of the person who made
prospectus or a dealer in securities who securities
places, does not provide the information and documents which the Commission is entitled to
request under section 8 (2). 1 (b). (g)), or ".
Letter c) is renumbered as paragraph (d)).
5. In paragraph 9a(1). 2, the words "and (b))" shall be replaced by "to (c))" and the words
"(b). (c)) "shall be replaced by the words" (a). (d)) ".
6. In section 9b paragraph 1. 1 (b). (b)), the word "or" is deleted.
7. In article 9b paragraph 1. 1, point (b)) the following new point (c)), which read as follows:
"(c)) as the auditor of the issuer of the securities, the person who made
prospectus or a dealer in securities who securities
places, does not provide the information and documents which the Commission is entitled to
request under section 8 (2). 1 (b). (g)), or ".
Letter c) is renumbered as paragraph (d)).
8. In section 9b paragraph 1. 2, the words "and (b))" shall be replaced by "to (c))" and the words
"(b). (c)) "shall be replaced by the words" (a). (d)) ".
9. In paragraph 13, the dot at the end of paragraph 1 is replaced by a comma and the following
letters w) to y) are added:
"w) the securities prospectus approved by the Commission, including electronic
a link to the prospectus, published in a manner allowing
remote access on the website of the issuer, or
of the regulated market, at least for a period of 12 months from the approval
x) trading companies and natural persons that are, at their request
registered as qualified investors under the law governing
the capital market,
s) financial holding companies; These lists shall be sent by the Commission
through the Department of the European Commission and
the competent authorities of the Member States of the European Union. ".
PART TEN
cancelled
Article. XIV
cancelled
PART ELEVEN
To change the code of civil procedure
Article. XV
Act No. 99/1963 Coll., the code of civil procedure as amended by Act No. 36/1967
Coll., Act No. 158/1969 Coll., Act No. 50/1973 Coll., Act No. 20/1975
Coll., Act No. 135/1982 Coll., Act No. 180/1990 Coll., Act No. 328/1991
Coll., Act No. 519/1991 Coll., Act No. 263/1992 Coll., Act No. 24/1993
Coll., Act No. 171/1993 Coll., Act No. 283/1993 Coll., Act No. 116/1994
Coll., Act No. 152/1994 Coll., Act No. 216/1994, Coll., Act No. 84/1995
Coll., Act No. 118/1995 Coll., Act No. 160/1995 Coll., Act No. 237/1995
Coll., Act No. 247/1995 Coll., Constitutional Court declared under no.
31/1996 Coll., Act No. 142/1996 Coll., the Constitutional Court declared
under Act No. 269/1996 Coll., Act No. 202/1997 Coll., Act No. 227/1997 Coll.
Law No. 15/1998 Coll., Act No. 91/1998 Coll., Act No. 167/1998 Coll.,
Act No. 326/1999 Coll., Act No. 360/1999 Coll., Constitutional Court
declared under the No 2/2000 Coll., Act No. 27/2000 Coll., Act No. 30/2000
Coll., Act No. 46/2000 Coll., Act No. 105/2000 Coll., Act No. 130/2000
Coll., Act No. 155/2000 Coll., Act No. 204/2000 Coll., Act No. 220/2000
Coll., Act No. 227/2000 Coll., 367/2000 Coll., Act No. 366/2000 Coll.,
Act No 120/2001 Coll., Act No. 137/2001 Coll., Act No. 231/2001 Coll.
Act No. 273/2001 Coll., the Constitutional Court declared under no.
276/2001 Coll., Act No. 311/2001 Coll., Act No. 451/2001 Coll., Act No.
491/2001 Coll., Act No. 501/2001 Coll., Act No. 151/2002 Coll., Act No.
202/2002 Coll., Act No. 227/2002 Coll., Act No. 309/2002 Coll., Act No.
320/2002 Coll., Constitutional Court declared under no. 476/2002 Coll.
Act No. 88/2003 Coll., Act No. 120/2004 Coll., Constitutional Court
the declared under no. 153/2004 Coll., Act No. 235/2004 Coll., Act No.
257/2004 Coll., Act No. 340/2004 Coll., Act No. 435/2004 Coll., Act No.
501/2004 Coll., Act No. 554/2004 Coll., Act No. 561/2004 Coll., Act No.
628/2004 Coll., Act No. 59/2005 Coll., Act No. 170/2005 Coll., Act No.
205/2005 Coll., Act No. 216/2005 Coll., Act No. 377/2005 Coll., Act No.
383/2005 Coll. and Act No. 413/2005 is amended as follows:
1. In article 322 paragraph following paragraph 4, including
footnotes # 86a 86b and reads as follows:
"(4) are excluded from enforcement of technical resources, on which
According to a special legal regulation ^ 86a), registration of investment
instruments or documents shall be kept concerning the data in this
the registration of, and the technical means used to provide data on
Owning investment instruments according to a special legal
prescription ^ 86b).
86A) § 92, 93 and 99a of Act No. 256/2004 Coll., on capital
the market.
86B) § 115 of Act No. 256/2004 Coll., as amended by Act No 56/2006 Sb. ".
The current paragraph 4 shall become paragraph 5.
2. In article 322 paragraph. 5 is the number "3" by "4".
PART TWELVE
cancelled
Article. XVI
cancelled
PART THIRTEEN
Amendment of the Act on the bonds
Article. XVII
Act No. 190/2004 Coll. on bonds, as amended by law No 378/2005 Coll.
is amended as follows:
1. In article 3, paragraph 3. 1 the first sentence, the words "its creation have expired
at least 2 years and which has been approved and audited at least the last two
consecutive financial statements, unless otherwise provided by this Act (section 25 to
27) "are deleted.
2. In article 6 (1). 1 (b). (b)), the words ", and in a special type of bond
the designation of its kind "are replaced by the words" or the designation of a special kind
the bond ".
3. In article 7 (2). 1, point j) repealed.
Letters k) to (n)) shall become letters (j)) and m).
4. In article 7, paragraph 2, the following paragraph 3, including notes
footnote 1:
"(3) the prospectus of the bonds of" ^ 1 ") (the" prospectus ") and the terms and conditions
can be a single document, and may be approved together.
1) Act No. 256/2004 Coll., on the capital market, as amended by
amended. ".
The former paragraph 3 shall become paragraph 4.
The existing footnote 1 to 3 shall become footnote
line # 2 to 4, including references to footnotes, so far
footnote No 4 shall be deleted and the reference to the footnote # 4
is replaced by the reference to the footnote # 1.
5. In section 8 shall at the end of paragraph 1, the following sentence "in the case of a procedure under
§ 7 para. 3 shall not apply the provisions of § 8 para. 5 and § 9 para. 1 and 2, and
The Commission shall proceed in the manner prescribed by the approval of the special law
regulating the capital market prospectus approval. ".
6. In section 10, the following paragraph 4 is added:
"(4) if the conditions approved together with the prospectus, paragraph
1 to 3 shall not apply and the terms and conditions shall be published together with the prospectus
in a way that provides for a special law governing business on
the capital market for the publication of a prospectus. ".
7. In paragraph 12, at the end of paragraph 2 the following sentence "in the case that they are
terms and conditions, together with the approved prospectus shall not apply to
the provisions of § 12 para. 3 and 4 and the Commission when approving progresses
in a way that provides for a special law governing business on
the capital market for the approval of the prospectus Appendix. ".
8. in article 13, paragraph 5 is added:
"(5) The approval of the bond program, and the add-in is adequately
They shall apply the provisions of paragraphs 8 and 9. Bond program and the base prospectus ^ 1)
can be a single document, and may be approved together. If
bond program is approved, together with the base prospectus,
mutatis mutandis, the provisions of sections 8 and 9, with the exception of § 8 para. 5 and § 9
paragraph. 1 and 2, the Commission shall proceed, in approving the bond program
the manner prescribed by the law regulating business in the capital
"^ 1") for market approval of the base prospectus. In the case of approval
the new base prospectus is not the validity of the bond program
prejudice. ".
9. In section 14 is at the end of paragraph 1, the following sentence "If the
bond program approved together with the base prospectus, the
for approval for apply the provisions of § 8 and 9 with the exception of section 8
paragraph. 5 and § 9 para. 1 and 2, and for approval of an amendment for section 12 except
§ 12 para. 3 and 4, the Commission shall proceed when approving for
the bond program, or any change in a way that lays down the law
regulating the capital market "^ 1") for approval of Appendix
prospectus. ".
10. In § 25 para. 4, the words "in the framework of the Government bond program"
replaced by the words "on the basis of a special law in accordance with paragraph 2."
11. in section 25 is at the end of paragraph 6 the following sentence "the bonds of the United
the National Bank issued under a special legal regulation 4a) ^ ^
known as the Czech National Bank vouchers. ".
Footnote 4a is added:
"4a) of section 33 of Act No. 6/1993 Coll. on Česká národní banka.".
12. In § 25 para. 8, the words "(a). l) "are replaced by the words" (a). k) and (l)) ".
13. in section 26, paragraphs 1 and 2 shall be added:
"(1) the Ministry issued Government bonds to the extent
a special law and determines their conditions. The Ministry may
issue of the common conditions that are the same for an unspecified
number of issues of Treasury bills. The Ministry announces the
the issue of government bonds and common terms and conditions of State
Treasury bills in the collection of laws, unless the conditions
Government bond issued by abroad. Common conditions
Treasury bills are completed for each emission
information according to § 6 paragraph 1. 1 (b). (c)), d), (g)), and k) and pursuant to § 7 para. 1 (b).
(e)), which is in the collection of laws, but are disclosed by the Ministry of
published in a manner allowing remote access.
(2) the terms and conditions of the bonds issued by the Czech National Bank,
published in the journal of the Czech National Bank and in a manner allowing
remote access. The Czech National Bank may issue common emission
conditions that are the same for an unspecified number of the emission of bills
The Czech National Bank. Common terms and conditions shall be published by the phrase
the first, and are completed with data for each emissions under section 6 (1). 1
(a). (c)), d), (g)), and k) and pursuant to § 7 para. 1 (b). (e)), which in
Journal of the Czech National Bank not be made public, but they are the Czech national
the Bank published in a manner allowing remote access. ".
14. in section 26 para. 4 the first sentence, the word "issue" is replaced by
"sold".
15. in section 26 para. 4 the second sentence, the word "issue" is replaced by
"place" and the word "release" shall be replaced by the word "location".
16. in section 27, the following paragraph 6 is added:
"(6) the provisions of paragraphs 2 to 4 shall also apply to municipal bonds
issued abroad. ".
PART OF THE FOURTEENTH
Amendment of the Act on administrative fees
Article. XVIII
Act No 634/2004 Coll., on administrative fees, as amended by Act No.
217/2005 Coll., Act No. 228/2005 Coll., Act No. 361/2005 Coll. and act
No 361/2005 Coll., is amended as follows:
1. in annex v, part of the fourth item 65 (b). (b)), the words "shortlist
prospectus or "shall be deleted.
2. in annex v, part of the fourth item 65 (b). (c)), the words "or narrower
prospectus "shall be deleted.
3. in annex v, part of the fourth item 65 (d)) shall be deleted.
Subparagraph e) to (h)) shall become points (d) to (g))).
Article. XIX
Transitional provision
If the subject of the proceedings initiated before the date of the acquisition fee
of this Act, a fee according to the existing legal
regulations, even in cases where the fee becomes due after the date of
entry into force of this Act.
PART FIFTEEN
Amendment of the Act on income taxes
Article. XX
Act No. 586/1992 Coll., on income taxes, as amended by Act No. 35/1993
Coll., Act No. 96/1993 Coll., Act No. 156/1993 Coll., Act No. 196/1993
Coll., Act No. 323/1993 Coll., Act No. 42/1994 Coll., Act No. 85/1994
Coll., Act No. 114/1994 Coll., Act No. 266/1994 Coll., Act No. 32/1995
Coll., Act No. 87/1995 Coll., Act No. 118/1995 Coll., Act No. 149/1995
Coll., Act No. 247/1995 Coll., Act No. 314/1996 Coll., Act No. 18/1997
Coll., Act No. 151/1997 Coll., Act No. 209/1997 Coll., Act No. 209/1997
Coll., Act No. 227/1997 Coll., Act No. 111/1998 Coll., Act No. 148/1998
Coll., Act No. 167/1998 Coll., Act No. 333/1998 Coll., Act No. 63/1999
Coll., Act No. 129/1999 Coll., Act No. 144/1999 Coll., Act No. 169/1999
Coll., Act No. 222/1999 Coll., the Constitutional Court declared under no.
3/2000 Coll., Act No. 17/2000 Coll., Act No. 27/2000 Coll., Act No.
72/2000 Coll., Act No. 100/2000 Coll., Act No. 101/2000 Coll., Act No.
121/2000 Coll., Act No. 132/2000 Coll., Act No. 242/2000 Coll., Act No.
340/2000 Coll., Act No. 492/2000 Coll., Act No. 115/2001 Coll., Act No.
120/2001 Coll., Act No. 239/2001 Coll., Act No. 452/2001 Coll., Act No.
483/2001 Coll., Act No. 50/2002 Coll., Act No. 128/2002 Coll., Act No.
198/2002 Coll., Act No. 210/2002 Coll., Act No. 260/2002 Coll., Act No.
309/2002 Coll., Act No. 575/2002 Coll., Act No. 161/2003 Coll., Act No.
362/2003 Coll., Act No. 441/2003 Coll., Act No. 19/2004 Coll., Act No.
47/2004 Coll., Act No. 49/2004 Coll., Act No. 256/2004 Coll., Act No.
280/2004 Coll., Act No. 359/2004 Coll., Act No. 360/2004 Coll., Act No.
436/2004 Coll., Act No. 561/2004 Coll., Act No. 628/2004 Coll., Act No.
669/2004 Coll., Act No. 676/2004 Coll., Act No. 179/2005 Coll., Act No.
217/2005 Coll., Act No. 340/2005 Coll., Act No. 361/2005 Coll., Act No.
441/2005 Coll. and Act No. 545/2005 Coll., is amended as follows:
1. In section 4, paragraph 4. 1 (b). (h)), ' 162 ' 000 ' is replaced by ' 198
000 ".
2. In section 13a of the paragraph. 2 the first and second sentences are replaced by the phrases "the common
the taxable amount for the purposes of this Act, the sum of the partial foundations
tax under section 6 to 10 for both spouses. Partial tax bases under § 6-10
each of the spouses shall be adjusted in accordance with § 5 and 23. The common tax base is
reduced by the non-taxable portion of the tax base under section 15 for both spouses.
The non-taxable portion of the tax base under section 15 may apply because of
the spouses, who, prior to the common tax did not have taxable income in addition to the
income tax exempt income and tax rate, zdaňovaných special
If otherwise meets the conditions for their application. ".
3. In article 13a of para. 4 (b). (c)), the words "in accordance with § 13 and 14" are replaced by the words
"pursuant to section 13 or section 14".
4. In article 13a is added at the end of paragraph 5, the phrase "Backup does not apply husband
(wife), who, prior to the common tax did not have taxable income in addition to the
income tax exempt income and zdaňovaných special rate
taxes. ".
5. In section 13a of the paragraph. 6 a third sentence is added: "in the annex to each tax return
of the spouses shall be the data needed for the calculation of tax on a common base
taxes of the spouses referred to in paragraph 2 for both spouses and each of them must be brought to
your tax return half of the common tax base reduced by
half of the non-taxable part of the tax base for both spouses, from which
calculates tax. ".
6. In article 13a, the following paragraph 8 is added:
"(8) if requested at the same time with the filing of the tax return of one of the spouses
convert vratitelného overpayment that arose as a result of paid
advances on application of joint taxation and tax on the personal account of the second
the spouses, this conversion will take place of the tax by the due date of the tax
of the other spouse. ".
7. in section 19 is at the end of paragraph 1, the period is replaced by a comma and the following
Letter zo) including footnote # 121:
"zo) revenue from third-party contributions according to a special legal
prescription ^ 121) operators of collective system to ensure the take-back
the collection, processing, recovery and disposal of electrical and electronic equipment or separate
the collection, treatment, recovery and disposal of waste electrical and, if they are
registered under a special legal regulation ^ 121).
121) section 37 h of paragraph 1. 1 (b). (c)), § 37o 37n and Act No. 185/2001 Coll., on the
waste and amending certain other acts, as amended
regulations. ".
8. in section 24 para. 2 (a). (b)) at the end of point 3 shall be replaced by the dot and comma
the following sentence: "this provision shall not apply for the net price
sold the car, whose entry price is referred to in this
the law limited (§ 29 para. 10), when the amount of revenue from sales by
§ 23 para. 4 (b). l) does not include in the tax base, ".
9. in section 24 para. 2 (a). h) item 1:
"1. the rent, with the exception of hiring of financial lease
buying a lease and the rent referred to in § 25 para. 1 (b). for), and it
under special legislation ^ 20); in doing so, the tenant who has
hired by the undertaking or part of the company, forming a separate organizational unit,
on the basis of the contract on the lease of the undertaking or part of an undertaking under the Special
^ Law 70) (hereinafter referred to as "the lease contract of enterprise") is the cost of the
(cargo) is only part of the rent which exceeds depreciation fixed according to
special legal regulation ^ 20) ".
10. In section 34 para. 4 in the last sentence, after the word "service" the words
"license fees (section 19 para. 7) ".
11. in section 38b is at the end of the second sentence, the words "or of the spouses
apply the common taxation according to § 13a ".
12. In article 38 paragraph 2. 5 (b). f) point 3, the number "150 000 ' is replaced by
"300 000".
13. in annex No 3 point 1, second and third sentences deleted.
Article. XXI
Transitional provisions
1. The provisions of article. XX points 2 to 11 can also be used for the tax period
that began in 2005.
2. The provisions of § 19 para. 1 (b). l) Act No. 586/1992 Coll., as amended by
Act No. 545/2005 Coll., for the first time apply for the tax period, which
began in 2006.
3. the movable and immovable property of the tenant at the same time, the depreciation
the taxable amount in accordance with article II, paragraph 3 of Act No. 492/2000 Coll., which
amended Act No. 586/1992 Coll., on income taxes, as amended
regulations, and some other laws, the procedure in the tax year that
began in 2005, according to § 24 para. 2 (a). h) point 1 of law No.
586/1992 Coll., as amended by this Act.
4. If the taxpayer used the provisions of § 23 para. 17 of Act No. 586/1992
Coll., as amended by Act No. 545/2005 Coll., for the tax period, which
began in 2005, is unable to use the provisions of § 24 para. 2 (a). Zg)
Act No. 586/1992 Coll., as amended by Act No. 441/2003 Coll.
5. the provisions of section 32a para. 2 of the Act No. 586/1992 Coll., as amended by Act No.
545/2005 Coll., shall apply for the tax period, which began in the
2005.
6. The provisions of § 34 paragraph 1. 7 and 8 of Act No. 586/1992 Coll., as amended by law
No. 545/2005 Coll., can also be used for the tax period, which began in the
2005.
7. the provisions of section 37b of the Act No. 586/1992 Coll., as amended by Act No. 545/2005
Coll., shall apply to the relocation of the registered office of a European company ^ 35f)
or European teams from the Czech Republic to another Member
State of the European Union or of one of the States that make up the European
economic area that is effective after 31 December 2006. December 2005.
8. The provisions of article. XX, point 12 shall also apply for the tax year that
started in 2006, and it also applies to credit agreements on
financing residential needs closed 1. January 2006.
PART OF THE SIXTEENTH
cancelled
Article. XXII
cancelled
Article. XXIII
cancelled
PART SEVENTEEN:
The EFFECTIVENESS of the
Article. XXIV
This Act shall take effect on the date of its publication.
Fort Worth Star Telegram in r.
Klaus r.
Paroubek in r.
