351/2007 Sb.



DECREE



of 17 May. December 2007,



amending Decree No 502/2002 Coll., which implements certain

the provisions of Act No. 563/1991 Coll., on accounting, as amended

regulations for business units, which are insurance undertakings, as amended by

amended



The Ministry of Finance shall determine under section 37b of the Act No. 563/1991 Coll., on the

accounting, in the wording of Act No. 441/2003 Coll., to implement section 4, paragraph 4. 8, §

24 paragraph 2. 4 and 5 and § 28 para. 1:



Article. (I)



Decree No 501/2002 Coll., which implements certain provisions of the Act

No. 563/1991 Coll., on accounting, as amended, for the accounting

units which are insurance undertakings, as amended by Decree No 474/2003 Coll.

Decree No. 561/2004 Coll. and Decree No. 396/2005 is amended as follows:



1. § 1, including footnote No 1 is added:



"§ 1



This Decree incorporates the relevant provisions of the European Communities ^ 1)

and provides for the



and organizing and labelling items) of the financial statements and the consolidated

financial statements and content of these statements, organizing, and

scope of explanatory and supplementary information in annex v

the financial statements and the consolidated financial statements, the consolidation method

accounts and the procedure for inclusion of the business units in the consolidation

the whole,



b) accounting methods and their use,



(c)) the target chart of accounts



for the business units referred to in § 2.



1) of the Council directive of 19 December. December 1991 on the annual accounts

accounts and consolidated accounts of insurance undertakings (91/674/EEC).



European Parliament and Council Directive 2003/51/EC of 18 June 2003. June

2003 amending Directive 78/660/EEC, 83/349/EEC, 86/635/EEC and

91/674/EEC on the annual accounts and consolidated

accounts of certain types of companies, banks and other financial

institutions and insurance companies.



European Parliament and Council Directive 2006/46/EC of 14 July 1999. June

2006 amending Council Directives 78/660/EEC on the annual accounts of

accounts of certain types of companies, 83/349/EEC on consolidated

accounts, 86/635/EEC on the annual accounts and

consolidated accounts of banks and other financial

institutions and 91/674/EEC on the annual accounts and consolidated

accounts of insurance undertakings. '.



Footnote No. 1 is referred to as a footnote

No 1a, including links to a footnote.



2. In article 3, paragraph 3. 1, after the word "and", the words "may include an overview of the

the cash flow statement and ".



3. In article 3, after paragraph 4, the following paragraph 5 is added:



"(5) the statement of cash flows is a breakdown of the selected items of the assets and

gives information on the increments and shortages of funds and

cash equivalents in terms of operating, investment and financial

activities during the reporting period, taking into account the specificities of the

operation of the insurance and reinsurance activities referred to in the Special

^ law 1a). ".



The present paragraph 5 shall become paragraph 6.



4. in section 3, paragraph 6 is added:



"(6) the statement of changes in equity includes in particular an increase or

reduction in equity during the reporting period, based on the value

the principles used in the financial statements, the differences from changes in accounting methods,

events associated with such relationships with partners, when

Act as owners, the payment of dividends or other shares of the

profit. ".



5. In section 4, paragraph 4. 1 the words "and labelling".



6. In paragraph 4, at the end of paragraph 1, the following sentence "the new items can be inserted

in the event that their content is not included in any of the items

required in the configuration, and that a more detailed

breakdown. ".



7. In paragraph 4, at the end of paragraph 2 the following sentence "a calculated item with

indicate the symbols "+" and "-". ".



8. in § 5 para. 1, after the words "c. financial placements (investments)"

the words "and the entries" d. financial placements of life insurance,

If the investment risk is borne by the policyholders, "".



9. in § 5 para. 2, after the word "commitments", the words "with the exception of

technical provisions in item "C" and "D." liabilities ".



10. in paragraph 5, the following paragraph 5 is added:



"(5) where an asset or liability relates to more than one

item in the layout and structure, their relationship to other items is

be given in the notes to the financial statements, if such information is necessary

to build a clear and transparent financial statements. Own shares and shares

affiliated undertakings may be shown only under the items prescribed for

this purpose. ".



11. In § 8 para. 1, after the word "compile" the words "an overview of the

cash flow and ".



12. In article 8 the following paragraph 13, which including the footnotes.

15A is inserted:



"(13) for the applied regresy to which he is entitled by virtue of the Office

indemnity paid ^ 15a), § 19 para. 5 (b). (b)),

that these regresy are given at the time and in the amount of the direct debit of cash

funds to the account of the Office. At the same time in the same amount of lists creation

The guarantee fund.



15A) § 24 para. 2 (a). (b)) or § 24 para. 8 of the Act No. 168/1999 Coll., on

as amended, the Ordinance. ".



13. in § 9 para. 2, the fourth sentence deleted.



14. in § 9 para. 2, the words "States only when the conversion of the accounting unit

or part thereof. Transfer of a business unit ' means, in particular,

the transfer "shall be replaced by" may arise from the transmission ".



15. In article 11 (1) 3 the words "reinsurance brokers. ^ 30a)" are replaced by

the words "insurance intermediaries ^ 30), if their activities

collateral. ".



Footnote # 30:



"30) Act No. 38/2004 Coll., on insurance intermediaries and

separate likvidátorech of claims and about the change of trade

law (law on insurance intermediaries and likvidátorech

insurance claims), as amended. ".



16. in § 14 para. 2, the last sentence, including footnote # 35a

repealed.



17. in article 16, paragraph 7 becomes paragraph 6.



The present paragraph 6 is renumbered as paragraph 7.



18. In article 16(1). 6, the words "c. 8. Other technical provisions "shall be replaced by

the words "c. 6. Other technical reserves "and the word" or "with the word

"(C) 6" shall be replaced by the word "C. 7.".



19. In article 16(1). 7, the word "c. 6" shall be replaced by the word "C. 7.".



20. In article 16, paragraph 7, insert a new paragraph 8, which including

footnote # 37b:



"(8)" (C). 9. Provision for liabilities of the Office "contains technical

reserves under special legislation ^ 37b). The provisions of paragraphs 2

and (3) shall apply mutatis mutandis.



"37b) § 15a of Act No. 363/1999 Coll., as amended by Act No. 377/2005 Coll.".



Paragraphs 8 and 9 shall be renumbered 9 and 10.



21. in section 17(2). 1 the words "E. other provisions" shall be replaced by "E".

The reserve ".



22. in section 18 para. 2 the words "reinsurance brokers" are replaced by the words

"independent liquidators claims ^ 30)."



23. in section 22 para. 1 (b). f), the words "c. 7. Other technical provisions "

shall be replaced by "(C). 6. Other technical reserves ".



24. in paragraph 22 of the paragraph. 2, letter g) the following points (h) and (i)))

that including the footnotes # 42a and 42b are inserted:



"(h) the nature and business purpose) transactions, the business units

are not included in the balance sheet, and the financial impact of the transaction on the financial

Unit, provided that the risks or benefits arising from these transactions are material and

If the disclosure of such risks or benefits is necessary to assess the

^ 42a) financial situation of the entity,



I) transactions that an entity has with the related party,

including the volume of such transactions, the nature of the related party relationship and

other information about these transactions that are necessary to

understanding of the financial situation of the entity, if such transactions are

significant and have not been concluded under normal conditions on a regulated

^ market 42b). Information about individual transactions may be aggregated

According to their nature except where separate

information necessary for the understanding of the effects of related party transactions

on the financial situation of the entity; expression of the related party has the same

meaning as in international accounting standards referred to in § 7 para.

9 of the Act,



42A) § 21 para. 3 of the Act on accounting.



42B) section 27 para. 5 of the Act on accounting. ".



Subparagraph (h)) to o) shall become letters (j)) to (p)).



25. in paragraph 22 of the dot at the end of paragraph 2 is replaced by a comma and the following

the letter r) shall be added:



"r) total cost of remuneration of statutory auditor or

audit of the company for the financial year, broken down for the statutory audit

financial statements other assurance services, tax advisory services and other

non-audit services. This information does not need to be placed where the financial

the unit is included in the consolidated accounts drawn up in accordance with

part five, if such information is given in annex v

the consolidated financial statements. ";"



26. in title V of part two, including the title.



27. in section 29 para. 9, the words "the decision of the Court on an application for

the registration of the conversion in the commercial register "are replaced by the words" sale

the property ".




28. in section 34 para. 1 the words "E. other provisions" shall be replaced by "E".

The reserve ".



29. in paragraph 43, at the end of the letter l) dot replaced with a comma and the following

letters m) up to), which read as follows:



"m) the nature and business purpose of the transactions, which are not listed in the

the consolidated balance sheet, and the financial impact of these transactions if they are

the risks or benefits arising from these transactions are material and where publication of the

of such risks or benefits is necessary to assess the financial situation of the ^ 42a)

the consolidated Group,



n) transactions, with the exception of transactions within the framework of the consolidated Group, which

the consolidating accounting unit or consolidated entities

included in the consolidated Group have entered into the related party, including

the volume of such transactions, the nature of the related party relationship and

other information about these transactions that are necessary to

understanding of the financial situation of the consolidated Group, if these

significant transactions and have not been concluded under normal

regulated market ^ 42b). Information about individual transactions may be

aggregated according to their nature except when they are

separate information is necessary for an understanding of the impact of the transactions with

a related party on the financial situation of the consolidated Group; the expression

related party has the same meaning as in international accounting

standards referred to in § 23a para. 1 of the Act,



o) information pursuant to § 22 para. 2 (a). r) ".



30. in annex No. 1 under liabilities "A.I.", the letter b) repealed.



31. In Appendix 1, item "liabilities 8. Other technical provisions "

referred to as "6. Other technical reserves ".



Current liabilities "item 6" and "7" are referred to as "7" and "8".



32. In Appendix 1, the following new item of liabilities:



"9. The reserve for obligations of the Office



and) gross. x



b) reinsurers ' share (-)........ ".



33. In Appendix 1, the designation of the liability item "other reserves E."

replaced by the words "e. reserves".



34. Annex 3 shall be deleted.



Annex No. 4 is renumbered as annex 3.



Article. (II)



Transitional provisions



1. the provisions of this order shall be used for the first time in the business unit accounting

periods beginning 1. January 2008 and later, if it is not in point 2

unless otherwise provided for.



2. The provisions of article. I, point 25 and article. I, point 29 (a) within the scope of section 43. about)

apply the accounting unit for the financial statements and the consolidated financial

statements drawn up to 29. June 2008 and later.



Article. (III)



The effectiveness of the



This Decree shall enter into force on 1 January 2000. January 1, 2008.



Minister:



Ing. Kalousek in r.