230/2009 Sb.
LAW
of 17 May. June 2009,
amending Act No. 256/2004 Coll., on the capital market,
as amended, and other related laws
Change: 89/2009 Sb.
Parliament has passed the following Act of the United States:
PART THE FIRST
Amendment of the Act 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., Act No. 377/2005 Coll., Act
No 56/2006 Coll., Act No. 57/2006 Coll., Act No. 62/2006 Coll., Act No.
70/2006 Coll., Act No. 159/2006 Coll., Act No. 120/2007 Coll., Act No.
296/2007 Coll., Act No. 29/2008 Coll., Act No. 104/2008 Coll., Act No.
126/2008 Coll., Act No. 216/2008 Coll., Act No. 230/2008 Coll. and act
No 7/2009 Coll., is amended as follows:
1. footnotes 1 and 2 shall be added:
"1) European Parliament and Council Directive 97/9/EC of 3 June 2003. March 1997
on investor-compensation schemes.
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 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
The European Parliament and of the Council 2003/6/EC, 2003/71/EC, 2004/109/EC and
2005/1/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.
European Parliament and Council Directive 2004/39/EC of 21 June 1999. April 2004
on markets in financial instruments, as amended by the directive of the European Parliament and of the
Council 2006/31/EC and 2007/44/EC.
Commission Directive 2004/72/EC of 29 April 2004. April 2004 implementing
Directive of the European Parliament and of the Council 2003/6/EC as regards accepted
market practices, the definition of inside information in relation to derivatives
derivatives, the establishment of lists of insiders, the notification of transactions
the responsible Directors and the reporting of suspicious transactions.
European Parliament and Council Directive 2004/109/EC of 15 December 1999. December
2004 on the harmonisation of transparency requirements in relation to information about
issuers whose securities are admitted to trading on a
a regulated market and amending Directive 2001/34/EC as amended by Directive
The European Parliament and of the Council 2008/22/EC.
European Parliament and Council Directive 2006/48/EC of 14 July 1999. June 2006
about the access to the activity of credit institutions and on its performance
(recast), as amended by the directive of the European Parliament and of the Council
2007/44/EC.
European Parliament and Council Directive 2006/49/EC of 14 July 1999. June 2006
on the capital adequacy of investment firms and credit institutions
(recast).
Commission Directive 2006/73/EC of 10 June 1999. August 2006 implementing
European Parliament and Council Directive 2004/39/EC, as regards the
organisational requirements and operating conditions for investment firms and
defined terms for the purposes of that directive.
Commission Directive 2007/14/EC of 8 June 2004. in March 2007, which establishes the
the detailed rules for implementing certain provisions of Directive 2004/109/EC on the
harmonisation of transparency requirements in relation to information about
issuers whose securities are admitted to trading on a
a regulated market.
European Parliament and Council Directive 2007/44/EC of 5 July 2004. September 2007,
amending Council Directive 92/49/EEC and directives 2002/83/EC,
2004/39/EC, 2005/68/EC and 2006/48/EC as regards procedural rules and
the evaluation criteria for the prudential assessment of acquisitions and increase of
participation in the financial sector.
2) Commission Regulation (EC) No 1725/2003 of 29 September 2003. September 2003 laying
adopting certain international accounting standards in accordance with regulation
The European Parliament and of the Council (EC) No 1606/2002, as amended.
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.
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, as amended by regulation
Commission Regulation (EC) no 1787/2006 and no 211/2007.
Commission Regulation (EC) no 1287/2006 of 10 March 2006. August 2006
performed by European Parliament and Council Directive 2004/39/EC, as regards the
record-keeping obligations for investment firms, transaction reporting,
market transparency, admission of financial instruments to trading, and about
defined terms for the purposes of that directive. ".
2. In article 2 (2). 1 (b). l) the words "investment instruments (hereinafter referred to as
"regulated market") "is replaced by" (section 55). "
3. In paragraph 2, at the end of paragraph 3, the dot is replaced by a comma and the following
subparagraph (c)), including footnote No 2 c is inserted:
"(c)) related party related party by the directly applicable
Regulation of the European communities, adopting certain
international accounting standards ^ 2 c).
2 c) point 3 of the international accounting standard IAS 24-Publication
related parties annexed to Commission Regulation (EC) No.
1725/2003. ".
Former footnote No. 2 c through 2f are referred to as comments below
line no 2d to 2 g, and including references to footnotes.
4. In section 2b, paragraph 1. 6 the first sentence after the word "customer" shall be inserted after.
5. In article 6 (1). 1 (b). g), the words "suitable in terms of sound and
prudent management of the brokerage house "shall be replaced by
"meeting the criteria set out in section 10 d of paragraph 1. 6. "
6. In section 6a is inserted after paragraph 2, a new paragraph 3 is added:
"(3) a securities dealer referred to in section 8a of the paragraph. 1 to 3 may
operate a business activity consisting in activities directly
to manage their own assets. ".
Paragraphs 3 to 5 shall become paragraphs 4 to 6.
7. In Article 6a shall be inserted after paragraph 5 a new paragraph 6 is added:
"(6) in the case of making a decision on the registration of the other activities referred to in
paragraph 3, provided for the registration of this other business activities
There are reasons worthy of special consideration by the Czech National Bank
will assess, in particular, with regard to whether this additional registration
the activities will contribute to improving the quality of investment
the service, refusal of registration would cause the trader in securities
major damage, or, what is the scope, complexity and nature of this
For more activities, the Czech National Bank shall refuse registration. In the decision
registration of the other activities referred to in paragraph 3, the Czech National Bank
limit the scope of registered activities, where appropriate, to establish the conditions
securities dealer must meet before the start of each of the
registered activities, where appropriate, to be followed by its
performance. ".
The present paragraph 6 is renumbered as paragraph 7.
8. In article 7 (2). 2, the number "4" is replaced by "5".
9. section 8 reads as follows:
"section 8
The Czech National Bank asks for the opinion of the supervisory authority of another Member
State of the European Union before authorisation is given to activities
securities, or after receiving a request for consent in the cases
referred to in section 10b, para. 1 if the person with a qualifying holding on
a person who for permission or consent is sought, is a person who has
the authorization of the supervisory authority of the Member State to act as a Bank,
an electronic money institution, insurance undertaking, reinsurance undertaking, investment
company or provider of investment services, or is the controlling
a person of such a person. ".
10. In section 8a of the paragraph. 7, after the word "intermediaries ^ 2 g)" shall be inserted after.
11. in § 9 para. 5 and 6 and in article 130 paragraph 1. 7, the word "special" is deleted.
12. in § 9 para. 8, the words "special legislation" shall be replaced by
the word "law".
13. in § 9 para. 8 and 9, section 9A(1). 1, § 16 para. 1, § 33 para. 5 and 8
(a). (b)), section 65 paragraph 1. 1 (b). (e)), section 91, § 92 para. 1 (b). (b)), § 93
paragraph. 5, § 97 para. 1 (b). (d)), § 100 para. 3 (b). (g)), § 102, section 111
paragraph. 5, § 115 paragraph. 1 (b). (e)), (b), point 2. g) and (h)), § 117 paragraph 1. 2
(a). (f)), g) and (l)) and in § 139 paragraph 2. 5 (b). and the words "special)
legal regulation "shall be replaced by the word" Act "in section 33 para. 2, the words
"special legislation" shall be replaced by the word "Act".
14. in part two, title II, part 2, the title of section 4 reads: "the acquisition,
increase of a qualifying holding and loss the trader in securities
papers and his domination ".
15. in part two, title II, part 2, section 4, the following new section 10b to
10E, by including the following titles:
"§ 10b
The determination and calculation of qualifying holdings
(1) the person or persons acting in concert, must have the permission of the United
the National Bank of
and for the acquisition of a qualifying holding) the trader in securities
(b)) to increase qualifying holdings in the securities trader
so that reach or exceed 20%, 30% or 50% or so
(c)) to have become the persons controlling the investment firm's
papers,
even in the case that these persons voting rights attaching to the shares, as follows
the participation of the trader in securities are not exercised; nevykonáváním
voting rights there is no change in the share of voting rights
These or other people.
(2) for the purposes of calculating the participation referred to in paragraph 1 shall be construed as voting
rights arising from participation in the securities trader, which is
joint-stock company, the voting rights referred to in § 122 para. 2; § 122
paragraph. 10 to 15 shall apply mutatis mutandis.
(3) in the calculation of the participation referred to in paragraph 1 shall not be counted voting rights
of the securities, which are related to securities,
that is a securities dealer, or a person who is authorised by the
another European Union Member State to provide investment services,
in their power in direct connection with the underwriting, or placement of securities
When does not carry voting rights or otherwise does not interfere with the management of
the issuer of the securities, and if these securities disposes, within 1 year after the
the date of their acquisition.
(4) The brokerage house, which is a company with limited liability
limited, paragraphs 2 and 3 shall apply mutatis mutandis.
section 10 c
Consent to the acquisition or increase of qualifying holding or controlling and
their notification
(1) the consent under section 10b of the paragraph. 1 is subject to the person or persons acting in
conformity to obtain before the acquisition or increase of qualifying holding on
securities trader or his dominating.
(2) a person who without the prior consent of the Czech National Bank will take
or increase a qualifying holding in the investment firm or trader
It will control, is obliged to inform about this fact immediately to the Czech
National Bank and without undue delay, to ask her to consent under section 10b
paragraph. 1.
(3) the acquisition or increase of a qualifying holding in the stock trader
papers or its domination without the prior consent of the Czech National Bank
does not result in the invalidity of the legal act, on the basis of which these
changes in the holdings of the trader in securities occurred, but
the voting rights associated with such participation shall not be exercised by the acquired,
until the granting of such consent.
§ 10 d
Assessment of qualifying holding
(1) the Czech National Bank not later than 2 business days from the date of receipt of the
requests for consent under section 10b of the paragraph. 1 the applicant in writing confirms its
adoption and shall inform it of the date on the end of the time limit for
examination of the application provided for in paragraph 2. The request contains information about a person
or persons intending to acquire or increase a qualifying holding on
securities trader or dealer in securities
control, details of securities trader, which has to be
participation is acquired or increased or that is to be controlled, the total
the amount of the stake, which the applicant on this trader in securities
the acquisition or increase of qualifying holding or controlling
gets information about a person, and that the applicant's share of converts. To the application
the applicant shall be accompanied by the documents necessary for the assessment of the application in terms of
compliance with the conditions referred to in paragraph 6.
(2) the Czech National Bank will issue a decision on the application within 60
working days from the date of dispatch of the written acknowledgement of receipt of the application
referred to in paragraph 1. If the Czech National Bank decision within this period
unless otherwise instructed, the approval was granted. This does not apply in the case of a request for
consent filed pursuant to § 10 para. 3.
(3) If a submitted application is incomplete, or if you suffer from other disabilities, Czech
the National Bank shall without undue delay, but not later than 50. the day of the run time
the time limits laid down in paragraph 2, shall in writing ask the applicant to delete
the shortcomings of the application, where appropriate, to submit further information necessary
for the examination of the application, with the receipt of the information requested by United
the National Bank shall confirm in writing to the applicant within the time limit referred to in paragraph 1.
The date of dispatch of the call, the time limit laid down in paragraph 2 shall interrupt,
for a maximum period of 20 working days. The time limit laid down in paragraph
2 up to 30 working days if the applicant
a) has a domicile or place of business in a State which is not
the Member State of the European Union, or
(b)) is not subject to supervision by the Member State of the European Union
executing the supervision of banks, electronic money institutions,
insurance undertakings, reinsurance undertakings, investment services providers,
investment companies or funds in accordance with the law, standard
regulating collective investment.
(4) an application for the granting of the consent referred to in paragraph 1 may be made only on the
the prescribed form, to which the applicant shall be accompanied by documents certifying
compliance with the conditions referred to in paragraph 6. Forms and contents of their
Annexes laying down detailed legislation.
(5) the Czech National Bank in assessing the application examines only the fulfilment of the
the conditions referred to in paragraph 6 and disregard for economic
the needs of the market.
(6) the Czech National Bank request if, in terms of the potential impact
on the performance of the activities of the dealer of securities are subject to the following
terms and conditions:
and) persons asking to grant consent, are trusted,
(b)) of the person, which are designed for the senior management, the investment firm's
papers, without any apparent doubt fulfil the conditions laid down in section 10
paragraph. 2,
c) sufficient volume, transparency of origin and lack of financial resources
the applicant, in relation to activities carried on by or scheduled for
brokerage house,
(d) a securities dealer) will continue to be able to comply with the rules
a prudent business on an individual and a consolidated basis,
(e) the structure of the consolidated Group), to which the trader
securities included,
1. do not prevent the effective supervision of the trader in securities
2. does not prevent the efficient exchange of information between the Czech National Bank and the authority
supervision of another Member State of the European Union, which exercises supervision over the
financial market, or
3. neznesnadňuje performance of individual institutions, supervision of the
consolidation and total over those included in this consolidation
the whole,
(f)) in connection with the proposed acquisition or increase of qualifying
the participation of the trader in securities or its controlling do not arise
reasonable grounds for concern that it could violate the law governing
measures against the legalization of proceeds from crime and the financing of
terrorism, or that such infringement has occurred, and
g) it is a case worthy of special consideration, in respect of a request under
§ 10 para. 3.
(7) the decision on the request for the Czech National Bank
and) may specify a time for the acquisition of the participation of the trader in securities
under section 10b of the paragraph. 1,
b) conclusions of the resulting from opinions, who received the procedure
According to § 8 before issuing a decision.
(8) the Czech National Bank may claim that the Court had pronounced the nullity of
General Assembly resolution brokerage house, on which the
acquired or increased its participation or a qualified person or
persons acting in concert without the prior consent of the Czech national
of the Bank. Does not apply if the Czech National Bank that right in court within
3 months from the date of the general meeting or, if the General Assembly
duly convened, within 3 months from the date of the Czech National Bank
could learn that should be convened, at the latest within a period of up to 1 year
from the date of the general meeting or the date on which the Czech National Bank
could learn that the General Assembly should be convened, this right shall cease to exist.
The provisions of the commercial code to declare invalid the decision of the General
meeting shall apply mutatis mutandis.
(9) paragraph 8 shall also apply to decisions taken by decision of the shareholders
limited liability company outside the general meeting.
§ 10e
The loss or reduction of qualifying holdings
(1) the person or persons acting in concert, without undue delay, notify the
The Czech National Bank,
and lower their qualifying holdings) the trader in securities
so that it drops below 50%, 30% or 20%, or completely cease, or
(b)) lower their qualifying holdings the trader in securities
so that it ceases to operate.
(2) the notification referred to in paragraph 1 containing the information about the person or persons
reduce or pozbývajících your qualified participation in
trader in securities or of the person or persons přestávajících
to control it, details of the trader in securities, on which this
the participation of reduced or pozbyta or which ceases to be controlled, the indication of the
the total amount of this share trader in securities after its
reductions and details of the person or persons who share the trader with
securities gain or increase. ".
16. section 11 is added:
"section 11
The provisions of § 10b-10e will apply for a brokerage house,
which is the Bank. In his case, it shall proceed according to the law governing
the activities of the bank. ".
17. in paragraph 12 (a). (b)) points 1 and 2, the word "potential" is replaced by
the word "potential".
18. in section 12a paragraph 1. 1 (b). and (2) the words of) "under which" shall be replaced by
the words "which".
19. in section 12b of paragraph 1. 1 (b). (d)), after the word "customer" shall be inserted after.
20. in part two, title II, part 3, in the heading of section 4, Word
"performs" replaced by the word "done".
21. in § 14 para. 5, the word "undertaken" shall be replaced by
"carried out".
22. In § 15a paragraph 1. 1 the second sentence after the word "provide" shall be inserted after.
23. in paragraph 15 d of paragraph 1. 1 (b). (d)), after the word "instrument" shall be inserted after.
24. in section 15 g, the words "paragraphs 1 and 2.0" is inserted after "(a)".
25. In section 15 k of paragraph 1. 2 (a). (f)), the word "course" is replaced by the word "course".
26. in section 15 l of paragraph 1. 3 (b). (b)), after the words "carried out" following the comma.
27. in section 15n first sentence after the word "customer" shall be inserted after.
28. in section 15 para. 1, after the word "instruments" ^ 3 c) "shall be inserted after.
29. in § 16 para. 1, the word "specific" shall be replaced by "other".
30. In article 16a, paragraph 2 reads as follows:
"(2) a securities dealer also publishes data on the implementation of the rules
Prudential, on an individual basis; This does not apply if the
and the more the trader) in securities [section 151 (1) (b) (c))],
(b)) a securities trader responsible in the Group of the European financial
the holding of the person [section 151 (1) (a).)]
c) responsible trader in securities in the Group of foreign
the controlling of the trader in securities [section 151 (1) (a). t)],
d) responsible trader in securities in a foreign group
the controlling Bank [§ 151 (1) (a). u)], or
(e)) the controlled person in the Group of the European controlling merchant
securities [section 151 (1) (a), p)] in the Group of the European controlling
banks under the law governing the activity of the banks in the Group of the European
the financial holding of the person [section 151 (1) (a). r)] or in a group
foreign controlling Bank [§ 151 (1) (a). m)] and it shall be
When the disclosure of information on the implementation of prudent business data
consolidated basis. ".
31. in section 19 para. 3, the words "special Act" are replaced by the words "another
the legislation ".
32. In § 19 para. 4 and § 24 para. 5 of the introductory part of the provisions of the words
"a special legal regulation, which regulates the activity of the bank" shall be replaced by
the words "the law governing the activity of the bank".
33. In paragraph 21 of the paragraph. 1, the words "or residence" shall be replaced by ",
residents or place of business ".
34. In section 30 paragraph 2. 3 (b). (b)) the introductory part of provision, the comma after the word
"person" shall be deleted.
35. In section 31 (a). (b)), the words "2 and 3 ' shall be replaced by" 1 and 2 ".
36. In § 32 para. 5 after the word "instruments", the words "and the register
contracts relating to investment services provided ".
37. In § 32 para. 7 (b). (b)), the words "stores that closed or
He has provided "shall be replaced by" of all received and transmitted by the instructions ".
38. In § 32 para. 7 the letter e) repealed.
Subparagraph (f)) is renumbered as paragraph (e)).
39. In paragraph section 32a. 5, the words "the provision of investment services"
replaced by the words "the performance of the activities referred to in paragraph 1".
40. In Section 32b of the paragraph. 2, letter b) the following new subparagraph (c)), and (d)),
are added:
"(c)) has its registered office, residence or place of business in the territory of the United States or
on the territory of a Member State of the European Union, whose legal system does not allow
to undertake activities similar to those listed in section 32a para. 1 using the
bound representative,
(d)) has completed secondary education, ".
Letter c) is renumbered as paragraph (e)).
41. In Section 32b of the paragraph. 2 (a). e), the words "functions referred to in paragraph 4"
shall be replaced by "referred to in paragraph 5".
42. In Section 32b of the paragraph, the following paragraph 4 is added:
"(4)-representative who is a legal person, may only be
a person who has a transparent and safe, if the origin of the capital
This is a trade company or cooperative, or comparable
variable, if it is a foreign legal person. ".
The current paragraph 4 shall become paragraph 5.
43. In section 32 c of paragraph 1. 1, the second sentence is replaced by the phrase "the Czech National Bank
keep a list of the representatives of the represented. "-bound.
44. In section 32 c of paragraph 1. 6 (a). (c)), the comma after the word "representative" shall be deleted.
45. In § 33 para. 2, the words "special legislation" shall be replaced by
"the law".
46. In § 33 para. 4, the words "against which can be given to dithering"
shall be deleted.
47. In section 36 shall be inserted after paragraph 2 paragraph 3, including the
footnote # 8 reads as follows:
"(3) in exceptional cases where some compulsory reported data ^ 8)
are not excessive in relation to the issuer's sphere of activity, legal form
the issuer or to the securities to which the prospectus relates, includes
the prospectus information equivalent to compulsory reported data, unless such data
are not available. This is without prejudice to paragraph 1.
8) Commission Regulation (EC) no 809/2004. ";
Paragraphs 3 to 7 shall become paragraphs 4 through 8
48. In § 36 odst. 4 is the number "6" is replaced by "7" and a reference to
footnote 8 is deleted.
49. In § 36 odst. 5 is the number "3" by "4".
50. in § 36 odst. 6 the first sentence, after the word "issuer" comma be deleted and for the
the word "Union" shall be added after the comma.
51. In paragraph 36b para. 1 with the number "5" shall be replaced by the number "6".
52. In section 36 c of paragraph 1. 1 and 2, the number "5" shall be replaced by the number "6".
53. In § 36 g of paragraph 1. 1, after the word "menu", the words "in the United
Republic "and the words" only "in the Czech Republic are deleted.
54. In § 36 g of paragraphs 2 and 3 shall be added:
"(2) the prospectus shall be drawn up in the English language, and, according to
the decision of the person vyhotovující prospekt, either in a language, in which you can
to submit documents to the competent supervisory authority of the Member State
The European Union, or in the English language,
and) if the Czech National Bank approves the prospectus for the purposes of public
deals in the Czech Republic and at the same time and in one or more other
the Member States of the European Union, or
(b)) for the purposes of admission of a security to trading on a regulated market
(section 55) for admission to trading on one or more
regulated markets established in the Member State of the European Union, which is not
Czech Republic.
(3) the prospectus shall be drawn up, in accordance with the decision of the person vyhotovující
prospectus, either in a language that you can use to submit documents to the supervisory authority
of the Member State of the European Union, or in the English language,
and) if the Czech National Bank approves the prospectus for the purposes of public
the menu in one or more of the other Member States of the European Union, or
(b)) for the purposes of admission of a security to trading on a regulated market
established in a Member State of the European Union with the exception of the regulated market
(section 55). ".
55. In section 36 g for paragraph 3, the following paragraph 4 is added:
"(4) for the purposes of the Czech National Bank supervision within the meaning of paragraph
3 a prospectus must be drawn up, in accordance with the decision of the person vyhotovující
prospectus, either in English, or in the English language. ".
Paragraphs 4 and 5 shall be renumbered as paragraphs 5 and 6.
56. In § 36 g of paragraph 1. 5, the words "a regulated market in one or more
the Member States ' shall be replaced by the words "one or more regulated markets
established in a Member State "and the words" the competent authority "which accepts the
replaced by the words "in which the documents can be presented to the competent authority".
57. In section 36 h of paragraph 1. 1 (b). a) after the word "issuer" shall be replaced
"or the person who has requested the admission of securities to the investment
trading without the issuer's consent, ".
58. In section 36 h of paragraph 1. 1 (b). (c)), after the word "issuer" shall be replaced
"or at the registered office of the person who requested the adoption of investment securities
paper trading without the issuer's consent, ".
59. In paragraph 2 of section 36 h. 1 at the end of subparagraph (d)) the following words "who alone
accepts investment securities to trading, or ".
60. In section 36 h of paragraph 1. 3, after the word "market", the words "securities
(hereinafter referred to as the "official market") ".
61. In article 39, paragraph 2, the following paragraph 3 is added:
"(3) the regulated market can continue to operate the business
activity consisting in activities directly related to managing your own
assets. ".
Paragraphs 3 to 6 shall become paragraphs 4 to 7.
62. In article 39, paragraph 6, the following paragraph 7 is added:
"(7) in the case of making a decision on the registration of the other activities referred to in
paragraph 3, provided for the registration of this other business activities
There are reasons worthy of special consideration by the Czech National Bank
will assess, in particular, with regard to whether this additional registration
the activities will contribute to improving the quality of investment
the service, refusal of registration would cause the regulated
major damage to the market, or, what is the scope, complexity and nature of this
For more activities, the Czech National Bank shall refuse registration. In the decision
registration of the other activities referred to in paragraph 3, the Czech National Bank
limit the scope of registered activities, where appropriate, to establish the conditions
regulated market must meet before the start of each of the
registered activities, where appropriate, to be followed by its
performance. ".
The present paragraph 7 shall become paragraph 8.
63. In the heading of section 47, the words "participation of the organizer of the regulated market"
replaced by the words "increasing and loss of qualifying holding on
regulated market and its mastering ".
64. In § 47 para. 1 the word "previous" be deleted, the word "section 11"
replaced by the words ' paragraph 10b-10 d "and at the end of the paragraph, the following sentence
"The request for consent shall contain the information referred to in section 10 d of paragraph 1. 1
and can be made only on the prescribed form, to which the applicant
shall be accompanied by documents certifying that the conditions set out in section 10 d of paragraph 1. 6.
Patterns of the forms and content of the annexes thereto lay down the detailed legal
prescription. ".
65. In § 47 para. 2 the words "§ 11 (1) 9 and 10 ' are replaced by the words "§
10E ".
66. In § 50 paragraph 7 is added:
"(7) the implementing legislation shall define the content of the information obligations
laid down in paragraphs 1 and 4, and the time limit, the form and method of filling them. ".
67. In article 56, paragraph 8 shall be deleted.
68. In article 57, the following paragraph 3 is added:
"(3) the obligation to publish a prospectus referred to in paragraph 1 shall not apply
the securities offered in connection with a take-over bid as
consideration or with a merger, if the Czech National Bank served with the document,
issue the Czech National Bank decides that contains information equivalent to
the information contained in the prospectus. If the Czech National Bank will not send
the issuer, within 15 working days from the date of delivery of the decision on the document
This 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. ".
69. In paragraph 64, the words "securities (hereinafter referred to as the" official market ")"
shall be deleted.
70. In article 65 paragraph 1. 1 (b). (h)), § 96 para. 3, § 97 para. 1 (b). (b)), section 99a
paragraph. 2, § 112 para. 1, § 112 para. 5 after the semicolon in a sentence and in § 152
paragraph. 1, the word "special" is replaced by "different".
71. the following section is inserted after section 65 65a is inserted:
"§ 65a
The issuer of shares admitted to trading on the official market for shares,
that newly issued and that are of the same kind as it issued shares
admitted to trading on the official market, he shall within 1 year from the date of their
the issue of the request for admission to trading on such a market, if there is no
their adoption without request. ".
72. In paragraph 83, the following paragraph 3 is added:
"(3) the operator of a securities settlement system may also, if it is stated in the
permit to operate a settlement system and to provide for their
the participants of the investment service specified in § 4, paragraph 4. 3 (b). a).“.
73. In paragraph 90, para. 1, § 109 paragraph. 2 (a). (b)), § 110 paragraph 2. 7, § 145 paragraph.
6 (a). (c)), § 150 of paragraph 1. 2 and in section 197 (f). (b)), the word "special"
replaced by the word "other".
74. In § 94 paragraph. 10, the words "investing apply" shall be replaced by
"investment".
75. In § 99 paragraph 2. 2, after the word "released" is added to the comma.
76. In paragraph 100, at the end of the text of paragraph 2, the words "or to carry out
other business activity registered by the Czech National Bank
section 103a ".
77. In paragraph 101, paragraph 4 shall be deleted.
The present paragraph 5 shall become paragraph 4.
78. In § 103 para. 2 (a). (c)), the words "3-5" shall be replaced by "3 and 4".
79. in paragraph 103, the following new section 103a, which reads as follows:
"section 103a
(1) other business activities in accordance with § 100 para. 2 the Central
the depositary shall exercise only after it has been registered, the Czech National Bank.
(2) other business activities of the CSD may consist of:
only the activities directly related to managing their own assets.
(3) in the event that additional business registration are not
reasons worthy of special consideration, that the Czech National Bank will assess the
in particular, taking into account the fact that the registration of this additional work
It will contribute to improving the quality of services provided, refusal of registration
It would cause major damage to the CSD, or, what is the
the scope, complexity and nature of this additional work, Czech National Bank
registration shall be refused; other business activities of the applicant
registers and shall issue to the applicant a certificate of registration.
(4) the decision on registration of the other business activities may Czech
the National Bank to limit the scope of the registered activities, where appropriate, provide for
the conditions that must be met before the start of the central depository of each of
registered activities, where appropriate, to be followed by its
performance.
(5) the Czech National Bank will cancel the registration if the CSD
in writing of the cancellation of the Czech National Bank asks. ".
80. Section 104a including title:
' paragraph 104a
The acquisition, improvement and loss of qualifying holding in the Central
the depositary and its mastery of the
(1) to acquire or increase qualifying holdings in the Central Depositary
or to dominate the central depository is required the consent of the Czech national
of the Bank. For the granting of such consent shall apply, mutatis mutandis, to section 10b 10 d; the time limit
the decision is 90 working days. Request for consent
must contain the information specified in § 10 d of paragraph 1. 1 and can be made only on the
the prescribed form, to which the applicant shall be accompanied by documents certifying
compliance with the conditions referred to in section 10 d of paragraph 1. 6. the forms and contents of
its annexes laying down detailed legislation.
(2) For the loss or reduction of qualifying holdings in the Central
the depositary shall apply mutatis mutandis to section 10e. ".
81. In paragraph 115 paragraph. 1 at the end of the letter h) dot is replaced by a comma and
the following letter i) including footnote No. 12a is inserted:
"i) Ministry for the compilation of government finance statistics and the
fulfilment of the requirements relating to the notification of the government deficit by
directly applicable legislation of the European communities ^ 12a).
12A) Council Regulation (EC) No 3605/93 of 22 July. November 1993 on the application of
The Protocol on the excessive deficit procedure annexed to the Treaty on the
establishing the European Community. ".
Footnote No. 12a shall be deleted.
82. in the heading of title I, part eight: "DUTY of CONFIDENTIALITY".
83. In paragraph 117, the title shall be deleted.
84. In the eighth for sections 117 added a new title II,
including the title reads as follows:
"TITLE II
INFORMATION OBLIGATION OF AN ISSUER OF CERTAIN INVESTMENT SECURITIES AND
OTHER PEOPLE ".
Title II becomes title VI.
85. In the eighth, title II, the following section shall be added:
"section 117a
For removable IOU, priority or similar valuable bond
paper issued abroad, which, after transfer or a right out of him
resulting entitles him to the acquisition of shares or similar securities
that represents the share of a company or other legal entity for
the purpose of this part of the Act applies the legislation for stock, or the like
a security that represents a proportion of the issuer [section 118 (1) (a).
a)].“.
86. section 118 and 119, including headings and footnotes # 12b-12e
shall be added:
"§ 118
Annual report of the issuer
(1) the annual report and the consolidated annual report is not later than 4
months after the end of the accounting period shall be obliged to disclose the issuer
and) shares or similar securities representing the share of the
the issuer of admitted to trading on a regulated market established in
Member State of the European Union, which has its registered office
1. on the territory of the Czech Republic, or
2. in the territory of a State which is a Member State of the European Union, if it was
the securities prospectus approved in the Czech Republic, with the fact that
the exceptions referred to in § 120 paragraph 1. 8 shall apply mutatis mutandis,
(b)) of the bond, like the securities representing the right to
the repayment of the amount owed or investment securities, whose value
is determined by the amount owed and the repayment of the nominal value of the
1. the date of the issue is almost equal to or greater than the amount corresponding to 1
€ 10,000, admitted to trading on a regulated market established in
Member State of the European Union, which has its registered office in the territory of the Czech Republic
or in the territory of a State which is not a European Union Member State, if
the securities prospectus was approved in the Czech Republic,
that the exceptions referred to in § 120 paragraph 1. 8 shall apply mutatis mutandis,
2. the date of the issue is almost equal to or greater than the amount corresponding to 1 000
EUR, admitted to trading on a regulated market if this
chosen by the issuer pursuant to section 123 of the Czech Republic for the Member State of the European
the Union, in which it carries out the obligations laid down in this title and title in this
part of the Act, or
3. the date of the issue is almost equal to or greater than the amount corresponding to 1 000
EUR, admitted to trading on a regulated market in a Member
State of the European Union, which is not the Czech Republic, which has its registered office in the territory
The United States and the Czech Republic have chosen under section 123 per Member
State of the European Union, in which it carries out the obligations laid down in this title and
the head of this section of the Act, or
(c) investment securities not mentioned) in (a)), and (b)), which
1. is admitted to trading on a regulated market and is not accepted by the
trading on a regulated market in a Member State of the European
the Union, which is not the Czech Republic, which has its registered office in the territory of the Czech Republic
or of a State which is a Member State of the European Union,
2. is admitted to trading on a regulated market and at the same time on a regulated
the market established in the Member State of the European Union, which is not the United
Republic, if the issuer has elected under section 123 of the Czech Republic
for the Member State of the European Union, in which it carries out the obligations laid down in
This title and title in this part of the Act,
3. is admitted to trading on a regulated market and is not accepted by the
trading on a regulated market in a Member State of the European
the Union, which the Czech Republic is not, if the issuer has its registered office in
Member State of the European Union, which the Czech Republic is not, and he chose
under section 123 of the Czech Republic as a Member State of the European Union, in which
fulfils the obligations laid down in this title and title in this part of the Act,
or
4. you are not admitted to trading on a regulated market and is accepted by the
trading on a regulated market in a Member State of the European
the Union, which is not the Czech Republic, where the issuer of the registered office on the territory of
The United States, and he chose the Czech Republic according to the § 123 per Member
State of the European Union, in which it carries out the obligations laid down in this title and
Title V of this part.
(2) the issuer shall ensure that published the annual report and the consolidated
the annual report have been publicly available for at least 5 years.
(3) the annual report shall contain financial statements certified by the auditor.
The consolidated annual report must include financial statements and
consolidated financial statements certified by the auditor. The auditor's report shall
be published in full.
(4) the annual report or the consolidated annual report must provide
investors with a true and fair view of the financial situation, business
the activities and results of the management of the issuer and its consolidated Group
for the past financial year and on the prospects of future development of the financial
the situation, the business activities and the results of the management of the issuer and its
the consolidated Group ^ 12b). The annual report and the consolidated annual
the message shall contain
and) the figures and information about the financial situation, business activities
and the results of the management of the issuer and its consolidated Group for
the past financial year to the extent of the figures and information
in the prospectus, indicating the important factors, risks and uncertainties that
influenced the financial situation, business activity, or the results of the
the management of the issuer and its consolidated Group, and their impact,
b) information about the conventions and procedures of internal control and the rules
access to the issuer and its consolidated Group to risks the issuer
and its consolidation unit is or may be exposed to in relation to the process of
financial reporting; This information includes the issuer in the annual
the message or the consolidated annual report as part of a separate section, the
which incorporates the information referred to in subparagraph (j)),
c) description of procedures of decision-making and the composition of the Board, the supervisory
authority or other Executive or supervisory body of the issuer and, if they are
set up, their committees,
d) description of the rights and obligations associated with the kind of shares or
similar securities representing the share of the issuer,
at least by reference to the commercial code and articles of Association of the issuer, if this is
the kind of stocks, or to a comparable foreign legislation and statutes
a similar document evidencing the issuer, if this is kind of like a security
of paper representing the share of the issuer,
e) description of the procedures and the basic scope of the decisions of the General
meeting of the issuer or of a similar gathering of owners of securities
shares representing the issuer,
(f)) the figures and information about all of the cash and in-kind
income, which they have adopted for the accounting period a person with management powers from the
the issuer and from entities controlled by the issuer, and collectively for all the members of the
statutory authority, collectively for all the members of the supervisory body and the
collectively for all other persons with managerial competence; This does not apply
the persons referred to in section 2 (2). 1 (b). (b)), paragraph 4,
(g)) the figures and information about the number of shares or similar securities
representing the share of the issuer that are owned
people with the management powers of the issuer, including loved ones, these persons
the figures and information about investment options and comparable
instruments whose value is related to the shares or similar valuable
securities shares representing the issuer and the Contracting
the said persons are parties, or which are closed in favour of the
These persons; the figures and information are given collectively for
all members of the Board, collectively for all the members of the supervisory
authority, collectively for all other persons with management powers and collectively
for people in or near these persons; the said persons shall notify the issuer necessary
the figures and information
h) remuneration of persons with control of the powers of the issuer identification
such persons and a description of their activities and related competencies and
decision-making powers; This does not apply to the persons referred to in § 2 paragraph 1.
1 (b). (b)), paragraph 4,
(I) a statement of the issuer authorized persons) that by their
knowledge serves the annual report and the consolidated annual report
true and fair view of the financial situation, business activities and
the results of the management of the issuer and its consolidated Group for the past
accounting period and about the prospects of the future development of the financial situation,
business activities and results management,
j) information about the codes of the management and administration of the company, which it
binding, or that voluntarily adheres to, and information about where it is
the code insight; where appropriate, the information about the fact that some
the provisions of such code does not comply with, or that any code
does not comply with, including a justification of why this provision or no code
does not follow; This information includes the issuer or in the annual report
consolidated annual report as a separate part and
for information about the posted reward) for the financial year, broken down by the Auditors
for different types of services, particularly for the issuer and separately for
the consolidated whole.
(5) the annual report and the consolidated annual report in the case of an issuer
referred to in paragraph 1 (b). and they must also contain a numeric) data and
for information about the
and the equity structure of the issuer), including securities
admitted to trading on a regulated market in a Member State
The European Union and possible destination of the various classes of shares or similar
Securities and the issuer of the shares representing the share of the
the capital of each type of shares or securities of the
shares representing the issuer,
b) transferability of the securities
c) significant direct and indirect shares of voting rights
the issuer, the
(d)) owning securities with special rights, including a description of these
rights,
e) restrictions on voting rights,
f) contracts between the shareholders or equivalent securities owners
shares representing the issuer, which can result in
worsening of the transferability of shares or securities of the
shares representing the issuer or of the voting rights, if they are
known to the issuer,
g) special rules that determine the selection and removal of members of the statutory
authority and amendment of the statutes or similar document to the issuer,
(h) the powers of the members) of the special statutory authority, in particular about the credentials of the
under section 161a and 210 of the commercial code,
I) major contracts in which the issuer is a party and which
will become effective, change or cease to exist in the case of a change of control
of the issuer as a result of a takeover bid, and the effects of them
resulting, with the exception of such contracts, whose publication would be
seriously detrimental to the issuer; This is not limited to other duty
disclose such information pursuant to this Act or other legal
regulations,
j) contracts between the issuer and the members of its statutory authority or
employees that the issuer is obliged to carry out, in case the end of the
their office or employment in connection with a take-over bid,
to) any programmes on the basis of the staff and members
the statutory body of the company allowed to acquire valuable participating
the company's securities, options to such securities or other rights to them for
favorable conditions, and about the way in which the rights of these
securities are exercised,
l) disbursement paid the State for mining law, if decisive action
the issuer is in the mining industry ^ 12 c).
(6) the annual report or the consolidated annual report of the issuer in accordance with
paragraph 1, which is not obliged to follow the law governing
accounting ^ 12d), must contain information equivalent to the information that
contains the annual report under the law governing accounting.
(7) If the general meeting or similar gathering of owners of securities
representing the share of the financial statements of the issuer or
consolidated financial statements does not approve or if the judicial authority
decides on the invalidity of the general meeting or similar gathering
owners of securities representing the share of the issuer that
approve the accounts or the consolidated accounts, the issuer
without undue delay, publish these facts; the information shall indicate
also a way to deal with the comments of the general meeting or similar gathering
owners of securities representing the share of the issuer.
(8) the statutory body of the issuer referred to in paragraph 1 (b). and the proper)
the general meeting or other similar proper Assembly of the owners of securities
shares representing the issuer shall submit to the shareholders or equivalent
the owners of the shares representing the securities issuer summary
explanatory report on the issues referred to in paragraph 5 (b). and)
to).
§ 119
Half-year report of the issuer
(1) the issuer in accordance with § 118 paragraph. 1 (b). a) or b) within 2 months after
end of the first 6 months of the financial period shall publish its half-yearly
the consolidated half-yearly report or, if the message has a duty to
to prepare consolidated financial statements, and shall ensure that the published
half-yearly report or consolidated half-yearly report has been publicly
accessible for at least 5 years. Half-yearly report or consolidated
half-yearly report must provide investors with a true and fair view of the
financial condition, business operations and results management
the issuer and its consolidated Group for the past half-year and
prospects of future development of the financial situation, business activities and
the results of the management of the issuer and its consolidated Group.
(2) the half-yearly report and the consolidated half-yearly report must include
and numeric data and information) to the extent specified in paragraphs 3 and 4,
(b)) to each of the figures and information referred to in subparagraph (a)) the data for
the corresponding period of the previous year,
c) auditor's report or a report on the review in full, if the data
According to subparagraph (a)) validates the auditor; If the auditor does not validate this information,
then the information that the auditor does not validate this information,
(d)), the descriptive part, that to the extent necessary for the accurate and correct
assessment of the development of business activities and the results of the management of the issuer
and its consolidated group contains
1. the information on the business activities and the results of the management of the issuer
and its consolidated Group in the first 6 months, which is a half-yearly
message or consolidated half-year report covers, with an indication of
the important factors that affect the business activities and results
the management of the issuer and its consolidated Group, and their impacts, and
further indication of important factors, risks and uncertainties, which may accompany
business and results of operations of the issuer and its
the consolidation unit in the next 6 months of the financial period,
2. in the case of an issuer referred to in § 118 paragraph. 1 (b). and) also an inventory of
related party transactions ^ 2 c), which occurred in the period to which
the half-yearly report or consolidated half-yearly report and
that significantly influenced the economic results of the issuer, as well as
any changes to the related party transactions that were listed
in the previous annual report or annual report
the issuer, if these changes can significantly affect the results
the management of the issuer and its consolidated Group in the period covered by the
half-year report covers,
3. comparison with the corresponding period of the previous year, and
(e) a statement of the issuer authorized persons) that by their
knowledge serves the consolidated half-yearly or half-yearly report
the message true and fair view of the financial situation, business activities
and the results of the management of the issuer and its consolidated Group for
the past half-year, and about the prospects of the future development of the financial situation,
the business activities and the results of the management of the issuer and its
the consolidated Group.
(3) the half-yearly report must contain numeric data and information in the range
condensed balance sheet, income statement, and selected the short explanatory
notes that for the abridged balance sheets, income statements and selected a shortened
the explanatory notes, stems from the directly applicable European legislation
the community adopting certain international accounting
^ 12e) standards. Abridged balance sheet and abridged income statement always includes
the items, including subtotals, equivalent to the items contained in the annual
report of the issuer for the period of the previous year; in the event that the omission of
the relevant entry in the half-yearly report has been eligible for investors throw
a false idea of property or other assets, liabilities, or other
liabilities, financial position or the profit or loss of the issuer,
the issuer or the abridged abridged balance sheets income statements for additional
explanation to the invocation of fantasies.
(4) Consolidated half-yearly report must contain numeric data, and
the information in the scope of the interim financial statements for interim
financial statements the results of the directly applicable European legislation
the community adopting certain international accounting
^ 12e) standards.
12B) 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 companies.
12 c), for example, section 32a of the Act No. 44/1988 Coll., on the protection and use of
mineral wealth (the top Act), as amended.
12d) § 21 para. 1, para. 2 (a). a), b) and d) (a). 4 of law No.
563/1991 Coll., on accounting, as amended.
12E) international accounting standard IAS 34-Interim financial reporting,
annexed to Commission Regulation (EC) No 1725/2003. ".
87. in paragraph 119, the following new section 119a to 119c, including the headings
shall be added:
"section 119a
Report of the statutory authority of the issuer
(1) the issuer referred to in § 118 paragraph. 1 (b). and) publish, for the period from
the beginning of the corresponding half of the reporting period to the time of publication,
While the first half of the financial year means always 6 months report
statutory authority (hereinafter referred to as the "interim report"), which contains the
at least
and an explanation of the important events) and the transactions and their impact on
the financial position or results of operations of the issuer and its controlled
people and
(b)) a description of the business activities and the results of the management of the issuer and its
controlled by the people.
(2) the interim management report, you can publish after the expiry of the first 10 weeks
the half of the reporting period, but not later than 6 weeks prior to its
the end.
(3) the information referred to in the interim management report shall provide investors
true and fair view of the financial situation, business activities and
the results of the issuer and its controlled management people.
(4) the issuer is not obliged to publish an interim report in accordance with
the rules of the regulated market established in that Member State
The European Union, on which the investment securities referred to in section 118
paragraph. 1 (b). a) admitted to trading, or on its own initiative
published on a quarterly basis the information equivalent to the information referred to in
paragraph 1 (b). a) and b), the following information shall comply with the
the requirement set out in paragraph 3.
section 119b
Disclosure of additional information
(1) the issuer referred to in § 118 paragraph. 1 (b). and) without undue delay
shall publish a notice of any change in the rights attaching to a specific kind of shares or
similar securities representing a right to share in the issuer.
The same requirement is even in the event of changes in the rights attaching to investment
a tool that the issuer has issued and which carry the right to acquire
It issued shares or similar securities representing right
the issuer of the share admitted to trading on a regulated market
established in the Member State of the European Union.
(2) the issuer referred to in § 118 paragraph. 1 (b). b) or c) without undue
delay publish a notice of any change in the rights attaching to investment a valuable
the paper referred to in § 118 paragraph. 1 (b). (b)), and (c)), in particular
publish information about the change of issue conditions or similar document
the emission conditions.
(3) the issuer referred to in § 118 paragraph. 1 without undue delay shall publish
any information about the new issue of investment securities specified in §
paragraph 118. 1 (b). a) to (c)), received a loan or a loan or a similar
the commitment, as well as about the potential liability of the issuer or a third party
relating to these investment securities.
§ 119c
Exemptions from the obligation to publish information
(1) the obligations provided for in § 118-119a shall not apply to
and the issuer, that is)
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 Central Bank of a Member State of the European Union or the European
the Central Bank,
5. international organizations, is a member of at least one Member State
The European Union, or
(b)) of the issuer, that is issued by one of the sole investment instruments
referred to in § 118 paragraph. 1 (b). (b)), where the nominal value of such
the investment facility is responsible to the date of the issue to the amount of at least EUR 50 000.
(2) the obligation provided for in § 119 does not apply to the issuer that
and) is a person referred to in section 34 para. 2 (a). (d)), whose shares
are not admitted to trading on a regulated market and which issues
continuous or repeated exclusively investment instruments referred to in § 118 paragraph.
1 (b). (b)), provided that their total value does not exceed the nominal amount of
corresponding to EUR 100 0000 0000 and the issuer of these tools neuveřejnil
a prospectus in accordance with this Act or comparable legislation
the Member State of the European Union, or
(b)), from 1. January 2004 and publishes exclusively investment tools
referred to in § 118 paragraph. 1 (b). b) unconditionally and irrevocably guaranteed by
The Czech Republic or the territorial Government of the Czech Republic.
(3) the obligation provided for in § 119b para. 3 does not apply to the issuer, the
which is an international treaty-based organizations, which
at least one party is a Member State of the European Union. ".
88. section 120 including title and footnotes # 12f and 13 is:
"Other obligations of the issuer
§ 120
(1) the issuer referred to in § 118 paragraph. 1 shall submit to the Organizer
of the regulated market established in a Member State of the European Union, on which the
It issued by the investment securities admitted to trading, and Czech national
Bank draft of each change its articles of association or similar document or
any decision on the proposal to increase or decrease the share capital, and
without undue delay, and in the case of a draft amendment to its articles of association or
like the document not later than on the day of publication of the notice of the meeting
meeting or similar gathering of owners of securities
shares representing the issuer or the sending of invitations to General meetings
the pile or a similar gathering of owners of securities
shares representing the issuer on which it is to be on this proposal
votes.
(2) the issuer referred to in § 118 paragraph. 1 (b). and) or (b))
and) shall ensure equal treatment for all holders of investment securities
securities issued, which stems from the ownership of such securities
the same status; violation of this obligation is, if an investment
securities of the same type associated with a different number of voting rights
(b) the payment of the proceeds of) investment securities or other
monetary transactions related to investment securities that issued;
the issuer pays the income or other financial transactions through
the designated person referred to in § 34 paragraph 1. 2 (a). d) point 1 or 2.
(3) the issuer referred to in § 118 paragraph. 1 (b). a) or b) no later than on the day of
the publication of the notice of the meeting or similar gathering
owners of securities or shares representing the issuer
the bond holders ' meeting or similar gathering of owners of securities
representing the right to repayment of the amount owed, or on the day of
the sending of invitations to such a gathering of owners of securities
make available in documentary form to anyone at its headquarters until the date of the
such a gathering of owners of securities or, in the case of the issuer,
which provides information to electronic means in accordance with
paragraph 5, it shall send the electronic means a proxy form to the
behalf of the owner of the securities at the gathering of owners of securities
of papers. At the same time, the issuer shall publish this form in a manner allowing
remote access.
(4) everyone has the right to request the sending of a form of Attorney pursuant to
paragraph 3 at their own expense and the danger in paper form or
electronic means. Disclosure form power of Attorney according to the
paragraph 3 of the paper in the offices of the issuer, its publication in a manner
allowing remote access and the right to request it to be sent in
paper form or electronic means at his/her cost and
the danger must be the owner of the securities issued by the issuer is notified
in the invitation to the Assembly referred to in paragraph 3 or in the notice of general meeting
the Assembly referred to in paragraph 3.
(5) if the articles of association or statutes similar to the issuer of the document referred to in section
paragraph 118. 1 (b). and conditions) or a bond or document
a similar emission conditions of a bond issuer in accordance with § 118 paragraph. 1 (b).
(b)) does not contain this option, then the general meeting, or similar
Assembly of the owners of securities representing the share of the
the issuer, if the issuer in accordance with § 118 paragraph. 1 (b). and)
or bond holders ' meeting or similar gathering of owners of
securities representing the right to repayment of the amount owed, if
This is about the issuer in accordance with § 118 paragraph. 1 (b). (b)), it may decide to
provision of information relating to the exercise of the rights of the owner of a security
the paper, issued by the issuer of the electronic means that
allows the transfer of data over the leadership, radio, optical or other
electromagnetic means, data processing including digital
compression and storage of data only if that issuer
and) does not provide information relating to the exercise of the rights of the owner
Security electronic means on the domicile or registered office
the owner of a security, an agent authorized to represent or
the persons mentioned in § 122 para. 2 (a). a) to (h)),
(b) efficient management of data) for the owner of the securities, or about
for him, the person authorized to exercise the voting rights and provides technical
the conditions for the protection of the processed, stored and transmitted data,
(c)) shall inform the way in which such a gathering convened by the owners
securities, without undue delay, the owner of the securities issued by him
paper or the person entitled to exercise voting rights for it on
decision of the Assembly of the owners of securities to provide information
concerning the exercise of the rights of the owner of the security of electronic
a means of requesting consent within a reasonable time,
that does not respond within this period if their objections shall be deemed its consent
for the and
(d)) provides any information concerning the exercise of the rights of the owner of a security
paper electronic means it issues to each owner
securities, and any person referred to in § 122 para. 2 (a). a) to (e)); It
does not apply to the person who asked about sending in writing to the issuer
information at his/her cost and danger in documentary form.
(6) the conditions set out in paragraph 5 the issuer referred to in
paragraph 5 also for the case where statutes or similar document
statutes or conditions, or a similar document issuance conditions
include the capability to provide information relating to the exercise of the rights of the owner
the securities electronic means.
(7) the issuer of the securities prospectus which has been approved in the United
Republic, at least once a year, within the time limit set by the directly applicable
Regulation of the European communities, implementing directive
The European Parliament and of the Council governing prospectus ^ 12f) after the publication of the
the financial statements shall publish a document that contains or refers to the
all information which the issuer published over the preceding 12 months in
The Czech Republic, in the performance of duties 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 ^ 13) 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.
(8) the obligation referred to in paragraph 7 shall not apply to the issuer referred to in §
119c paragraph 1. 1 (b). (b)) and issuer whose prospectus
The Czech Republic approved from 1. July 2005 to 7. March 2006.
An issuer whose application for the approval of the prospectus by the Czech National Bank
Advanced supervisory authority of another Member State of the European Union, the
the obligation referred to in paragraph 7. An issuer whose application for approval of the prospectus
forward the supervisory authority of another Member State of the European Union of the Czech
the National Bank does not comply with the obligation referred to in paragraph 7.
12F) Article. 27 para. 2 Commission Regulation (EC) no 809/2004.
13) Commission Regulation (EC) No 1725/2003.
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.
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 ".
Footnote # 13 is repealed.
89. in paragraph 120, the following new paragraph 120a and 120b are added:
' paragraph 120a
(1) in addition to the requirements laid down in the commercial code or comparable
the requirements of the foreign law provides, in the case of the issuer
According to § 118 paragraph. 1 (b). and) general meeting or similar
Assembly of the owners of securities representing the share of the
issuer or the notice of the meeting or of the like
Assembly of the owners of securities representing the share of the
the issuer further warnings to the rights of the owner of the securities
related to the participation in a gathering of owners of securities and
an indication of the total number of securities and voting rights
United.
(2) if it is to be on the agenda of the general meeting of the issuer of
in § 118 paragraph. 1 (b). and the like), or the Assembly of the owners of securities
representing the share of the issuer's decision on the payment of the proceeds
of securities or other monetary transactions associated with a valuable
paper, this issuer shall publish, together with the notice of the holding of such a
Assembly of the owners of securities or securities owners shall send
paper along with an invitation to such a gathering of owners of securities
the proposed schedule for the payment of the proceeds or other monetary transactions and information
on the financial institution, through which revenues or other financial
performance pays off. In the same way, the issuer shall inform the owner of the valuable
paper or his agent without undue delay of the outcome of the negotiations
General meeting or similar gathering of owners of securities.
(3) if it is to be on the agenda of the general meeting of the issuer of
in § 118 paragraph. 1 (b). and the like), or the Assembly of the owners of securities
shares representing the issuer of the securities referred to in § 118 paragraph. 1
(a). and) the decision to increase or reduction of share capital,
the fracturing of the securities, joining multiple securities to one or
change the form or type of securities, shall publish, together with the notice of
the holding of such a gathering of owners or sent to the owner of a security
the paper, along with an invitation to such a gathering of owners of information about
the impact of such a decision on the rights of the owner. In the same way
informs the issuer of the securities owner or his agent without
undue delay about the results of the general meeting or of the like
Assembly of the owners of securities representing the share of the
the issuer of the negotiations at this point.
(4) If an increase or decrease of the registered capital shall be decided by
the statutory body under a mandate from the General Assembly or the like
Assembly of the owners of securities, it shall apply mutatis mutandis.
section 120b
(1) the manner in which the issuer referred to in § 118 paragraph. 1 (b). (b))
publishes a notice of meeting of owners shall be convened by the bond or
a similar gathering of owners of securities representing a right to
the repayment of the amount owed, shall publish or addressed to the issuer, without undue
delay information on the exercise of the rights arising out of the ownership of such
securities, the payment of revenue, subscription, cancellation or repayment of
such a security. This is without prejudice to the requirements laid down in any other
legal regulation or comparable requirements of foreign legislation on the
the document, which shall be convened by the Assembly of the owners of securities
representing the right to repayment of the amount owed.
(2) if the bond holders ' meeting or similar gathering
the owners of the securities representing the right to repayment of debt
the amount the owners only want to participate in the investment securities
referred to in § 118 paragraph. 1 (b). (b)), whose nominal value as of the date
emissions equivalent to at least EUR 50 000, such meetings may be
owners take place in any Member State of the European Union
provided that in the Member State of the European Union are secured
the necessary information and conditions to enable the owner to exercise
their rights. "
90. in paragraph 121, the "Issuer", the words "referred to in § 118 paragraph.
1. "
91. in paragraph 121, the following new section 121a and 121b are added:
"section 121a
If the investment securities as referred to in § 3 (1). 2 (a). (c))
admitted to trading on a regulated market in a Member State
The European Union carries out the obligations laid down in paragraph 118, section 119b of paragraph 1. 2, § 120
paragraph. 1 and 5, and in section 121, the issuer of the investment securities, which is
securities referred to in § 3 (1). 2 (a). (c)) being replaced by.
section 121b
If the investment securities admitted to trading on
a regulated market without the issuer's consent, the obligation to disclose information
under this title and title IV of this part of the Act, if the issuer is subject to
information obligations under this Act, or comparable
the information, if the issuer is subject to the information obligations under the rule of
the order of another Member State of the European Union, holds the place of the issuer, a person
that for admission to trading on a regulated market, or
regulated market, which itself has received investment securities
to trading on a regulated market without the issuer's consent. This obligation
is satisfied where an obliged entity shall publish the information referred to in title V of this
part of the Act without undue delay after its publication
by the issuer; If they complied with the requirements of the method and the language of the publication,
meet the mandatory person this obligation even just by posting a link to the site,
where the issuer of the published information available. ".
92. In the eighth section 121b added a new title III
including the title reads as follows:
"TITLE III
THE OBLIGATION OF NOTIFICATION OF SHAREHOLDERS AND OTHER PERSONS ".
93. section 122 including title and footnotes # 13a is inserted:
"§ 122
Notification of voting rights
(1) a person who reaches or exceeds the share of all voting
the rights of the issuer referred to in § 118 paragraph. 1 (b). and 3%), if the
the capital of the issuer more than 100 0000 0000 Czk or the equivalent
the amount in foreign currency, 5%, 10%, 15%, 20%, 25%, 30%, 40%, 50% or
75%, or reduced their share of all the voting rights under these
boundaries, shall notify this fact to the issuer and the Czech National Bank. This
the notification may be made in the English language.
(2) for the purposes of the performance of the notification obligation referred to in paragraph 1 to the
the proportion of the voting rights of the issuer on all counts and voting
law on securities,
and at the disposal of another person) which, acting in concert with the person referred to
in paragraph 1,
(b)) that has a person referred to in paragraph 1, the possibility of temporarily to perform the
the basis of the contracts for pecuniary interest,
(c)) that were the person referred to in paragraph 1 provided as collateral
If such person shall publish a statement that the voting rights of the
exercise,
(d)) that the person referred to in paragraph 1, the lifetime right of use,
e) that a person referred to in paragraph 1, the farmer or manages are
stored there, if it were the owner of the given special instructions
on voting,
(f)) that has the option in its own name on behalf of the person referred to in paragraph 1
carry out the other person,
g) that are exercised by a person referred to in paragraph 1 on the basis of
authority, where such rights can exercise at its discretion, and if it
were not the principal granted any special instructions on how to vote,
or
h) which is authorized to recover the person referred to in paragraph 1, unilateral
a manifestation of will.
(3) the person referred to in paragraph 1 shall notify the reaching, exceeding or reduction
the proportion referred to in paragraph 1 within 4 working days after he learns or
could learn about the fact, that bases the creation of notification
referred to in paragraph 1. Is true that the person referred to in paragraph 1 of this
the fact she knew no later than 2 working days after the date on which this
event occurred. Where the obligation under paragraph 1 a more
persons, such persons may meet common obligation of notification
the announcement. The notification obligation is met, if within the prescribed period
written notice duly dispatched.
(4) If a power of Attorney within the meaning of paragraph 2 (a). g) granted only for
the purpose of a general meeting or similar gathering of owners of securities
representing the share of the issuer, may be a notification under
paragraph 1, the principal and the agent made a single
the announcement, which contains information on the proportion of the voting rights in the
during the general meeting or of a similar gathering of owners of securities
shares representing the securities to the issuer, indication of the share of the
voting rights at the time when the agent cannot
exercise the voting rights at its discretion, and further information, when
the moment occurs.
(5) failure to comply with the notification obligation provided for in paragraph 1 shall not
result in the annulment of a legal act, on the basis of which the acquisition has occurred
or increase of holding on to the issuer, but the voting rights attaching to
thus acquired shall not be exercised by the participation, to the time of fulfilment
the notification requirement.
(6) the Czech National Bank publishes the facts which have been notified to the
referred to in paragraph 1, with information on the amount of the share of the voting
rights shall publish, not later than within 3 working days from the date of
service of the notice or the date on which this information finds itself.
(7) the notification obligation referred to in paragraph 1, a person has to increase or
reduce the proportion of the voting rights as a result of an increase or decrease
the share capital.
(8) the obligation referred to in paragraph 1 arises, regardless of the person
voting rights for any reason does not. Due to the fact
that the person does not carry voting rights, there is no change in the share of the
voting rights referred to in paragraph 1 of this person or other people.
(9) the person referred to in section 34 para. 2 (a). d) point 1 or 2 to share
voting rights referred to in paragraph 1 shall not be counted in the voting shares of the
rights that are related to the assets which it holds in accordance with
the implementing legislation, which governs the rules of prudent
the capital market ^ 13a), if they do not exceed 5% of the share of
on all of the voting rights of the issuer, and that does not exercise or otherwise
does not interfere with the management of the issuer.
(10) the person controlling a person who is authorised to provide investment
the services referred to in section 4, paragraph 4. 2 (a). (d)), or a foreign person who has
the authorization of another Member State of the European Union to provide investment
services like investment services referred to in section 4, paragraph 4. 2 (a). (d)), to
holding of voting rights referred to in paragraph 1 does not count the shares on the
voting rights that relate to assets that manages
controlled entity, if
and) controlled the voting rights exercised only in accordance with written
the customer, or
(b)) a controlling person does not intervene in any way in the exercise of those
of the voting rights.
(11) a person controlling an investment company or foreign investment
company to the holding of voting rights referred to in paragraph 1
not including the voting rights that are associated with the assets in funds
a collective investment undertaking which manages the controlled person,
If a controlling person does not intervene in any way in the exercise of those
of the voting rights.
(12) the conditions for controlling person set out in paragraphs 10 and 11 shall apply
for the controlling person of the person in accordance with the laws of the State,
that is not a Member State of the European Union, provides in this State
a service comparable to the investment service specified in § 4, paragraph 4. 2 (a).
(d)), if
and the rule of law of such a State) the controlling party shall require that voting
rights, which relate to securities that are part of
of Fund assets, this person only in accordance with written
the customer, or to ensure that the procedures to reduce the potential for conflicts of
interest between the persons responsible for management of the assets and other
persons,
(b)) a controlling person does not intervene in any way in the exercise of the voting
rights, which relate to securities that are part of
of Fund assets, and
(c) in the case of the controlled entity) a conflict of interest between her and the controlling entity is
obliged to give priority to their interests before the interests of the controlling entity.
(13) the conditions referred to in paragraphs 10 to 12 applies to the controlling person
only if shall send without delay the Czech National Bank
and) details of the controlled entity referred to in paragraphs 10 to 12 and on the institutions whose
shall be subject to surveillance,
(b)) Declaration of compliance with the conditions laid down in paragraphs 10 to 12;
the Declaration may not be sent if it applies exclusively to investment
tools that allow you to acquire the securities within the meaning of paragraph 2 (a).
(h)), and
(c) the particulars or) changes in the Declaration referred to in subparagraph (a)), or (b)).
(14) the controlling person pursuant to paragraphs 10 to 12, at the request of the Czech national
the Bank without undue delay shall demonstrate that
a) controlling entity and the controlled entity has an organizational arrangement
allowing that the voting rights are exercised in accordance with paragraph
10 (a). (b)) or with paragraph 11,
(b)), when a controlling person is controlled by persons or by the customer
has participation in the assets that are managed in an controlled person from
written documentation shows that their relationship is usually in contact with the
other customers.
(15) the issuer referred to in § 118 paragraph. 1 (b). and), which took or lost
its own shares, either himself or through another person acting on behalf of
the issuer shall publish the information that has reached or exceeded the proportion of the
all voting rights in the amount of 3% If the share capital of the issuer
greater than $ 100 0000 0000 or equivalent amount in a foreign currency, 5% or
10%, or decreased their share of voting rights under these
the boundaries. The issuer shall publish this information within 4 working days after
occurs, the fact that bases the creation of this obligation.
(16) the issuer referred to in § 118 paragraph. 1 (b). and) publish the total number of
voting rights and the amount of capital in a calendar month in
where to change them.
(17) the contents of the notification referred to in paragraph 1, the form and manner of the sending of
down detailed legislation.
13A) Decree No. 123/2007 Coll., on rules of prudent business bank,
savings and credit unions, and securities dealers. ".
94. in paragraph 122, the following new section 122a, which including the title reads as follows:
"§ 122a
Exemptions from notification
(1) the obligation of notification according to § 122 para. 1 shall not apply to
and the person for whom) has fulfilled the obligation of notification, the person who controls it,
(b)) a person who acquires or zcizuje investment securities specified in §
paragraph 118. 1 (b). a) for the purpose of settlement of trades with those investment
instruments, if the time limit for their settlement shall not exceed 3 working
days ago,
(c)) a person who has in his power investment securities specified in § 118
paragraph. 1 (b). and) and voting rights attached to those investment
the tool performs exclusively according to a written statement by the owner, or
d) market maker that is a securities dealer, or a person
to enable the supervisory authority of another Member State of the European Union to
provision of investment services, if reaches or exceeds the share of
voting rights at the rate of 5%, or reduce its stake below this threshold,
provided that it does not exercise influence over the management of the issuer and, if within the time limit
referred to in § 122 para. 3 notify the supervisory authority of the issuer, that carries out
or intends to carry on business as a securities market maker of the issuer;
This person shall also notify the termination of the activities of the market maker.
(2) the notification obligation pursuant to § 122 para. 1 shall not apply to Member
The European system of central banks, if in the performance of tasks of the European
system of central banks reaches or exceeds the proportion of the voting
the rights referred to in § 122 para. 1, or if its share of the voting
rights under these boundaries shall be reduced, unless this does not carry voting rights and
If these thresholds for a short time in accordance with the provisions
governing the activities of the European Central Bank and the central banks.
The notification obligation shall also not apply in these cases to another
party to this transaction. ".
95. section 123, including the title reads as follows:
"§ 123
The choice of the Member State of the European Union by the issuer
(1) the issuer referred to in § 118 paragraph. 1 (b). (b) point 2 or 3), or (b).
(c)), paragraph 2, 3 or 4 shall elect one Member State of the European Union, in
which will fulfil the obligations under Title II and title V of this part of the Act
or comparable obligations under the law of another Member
State of the European Union. The following elected State may be the only Member State
The European Union, in which it has its registered office or the issuer in which it
issued securities are admitted to trading on a regulated market
in the Member State of the European Union. This option is for him to be binding at least
for a period of 3 years, unless the investment securities issued by the issuer
will no longer be traded on all regulated markets, based in
Member State of the European Union.
(2) the issuer referred to in paragraph 1 shall publish information about what the Member
State of the European Union. ".
96. In the eighth for sections 123 added a new title IV,
including the title reads as follows:
' TITLE IV
PROTECTION AGAINST UNAUTHORISED USE OF THE MARKET ".
97. In section 124 para. 3 the first sentence after the word "issuer" shall be replaced
"financial instrument".
98. In section 124 para. 4 (b). and take advantage of) the words "internal information by
the "and the words"; This does not apply if a dedicated person meets its obligation to
of contracts concluded prior to obtaining inside information ' shall be deleted, the words
"acquires or disposes," shall be replaced by the words "acquire or dispose" and the word
"attempts" is replaced by "try".
99. In paragraph 124, paragraph 6, including footnote No. 14a is inserted:
"(6) the provisions of paragraphs 1 to 4 shall not apply to
and operation by the Central Bank) of the Member State of the European
Union, the European Central Bank or other authorised person when
the implementation of the monetary or foreign exchange policy or in the management of public
debt,
b) Act under repurchase of own investment instruments or
price stabilisation of the investment facility under the terms directly
the applicable legislation of the European communities, which
performs a directive of the European Parliament and of the Council on market abuse ^ 14a),
or
(c) the discharge of an obligation from the Treaty) closed before getting inside information.
14A) Commission Regulation (EC) no 2273/2003 ".
Footnote No. 14a is referred to as a footnote
# 14, including links to a footnote.
100. In paragraph 124, paragraph 7 shall be deleted.
101. In paragraph 125 of paragraph 1. 1, the words ' without delay in a manner allowing remote
access and send the Czech National Bank in electronic form "be deleted.
102. In paragraph 125 of paragraph 1. 2 to 4 after the word "issuer" shall be replaced
"financial instrument".
103. In paragraph 125 of paragraph 1. 3 the first sentence, the word ' publish ' is deleted, and the words
"in a way allowing remote access" shall be replaced by the word "publish".
104. In paragraph 125 of paragraph 1. 3 the second sentence after the word "issuer" shall be replaced
"financial instrument".
105. In paragraph 125 of paragraph 1. 4, after the word "issuer", the words "of the financial
Tools ".
106. In paragraph 125 of paragraph 1. 4 the first sentence, the words "internal information"
replaced by the words "inside information" and the words "shall ensure, at the request of its
the provision "shall be replaced by" send it ".
107. In paragraph 125 of paragraph 1. 5 the first sentence after the word "issuer" shall be replaced
"financial instrument", after the word "partner" ^ 14b) "are the words
"dependent children ^ 14 c) and" and the words "you have made on your own"
replaced by the words "which was made on their".
108. the footnote No 14 c is inserted:
"14 c) Act No. 117/1995 Coll., on State aid, as amended
regulations. ".
109. In paragraph 125 of paragraph 1. 5 the second sentence shall be replaced by the phrase "the Czech National Bank
This notification is publicly available. ".
110. In paragraph 125 of paragraph 1. 6 (a). and the comma after the word) "directly" is deleted.
111. In paragraph 125 of paragraph 1. 7, letter a) is repealed.
Subparagraph (b)) to (h)) are known as letters a) to (g)).
112. In paragraph 125 of paragraph 1. 7 (b). (d)), the words "internal information ' shall be replaced by
the words "inside information" and at the end of the text of subparagraph (d)), the following words
"and the structure, form and manner of the sending of the list of the Czech national
the Bank ".
113. In paragraph 126 of paragraph 1. 11 the first sentence, the words "in a manner allowing remote
access ' shall be deleted.
114. In the eighth for sections 126 added a new title in which
including the title reads as follows:
"HEAD IN THE
MAKING COMPULSORY PUBLISHED INFORMATION ".
115. section 127, including the title reads as follows:
"§ 127
Basic provisions
(1) the Compulsory uveřejňovanou of information for the purposes of this Act, the
the information which the issuer or any other person who has applied for admission
investment securities to trading on a regulated market without the
the issuer's consent, or regulated market, which itself received
investment securities to trading without the issuer's consent, be required to
publish under titles II to IV of this part of the Act. For the compulsory
uveřejňovanou information shall be treated as information pursuant to § 120a para. 2 and
paragraph 3 and section 120b. 1. the following information shall not be considered a compulsory uveřejňovanou
form power of Attorney pursuant to § 120 paragraph 1. 3.
(2) Compulsory uveřejňovanou information the person referred to in paragraph 1
publish without delay so as to ensure an easy and neupřednostňující
gratuitous access; at the same time sends this information to the Czech National Bank.
This person is also required to retain material information related to the
compulsory uveřejňovanou of information, in particular information about a natural person
that the person referred to in paragraph 1 has sent a compulsorily released
information for publication, details of the sending of the mandatory security
materials information for publication, and the date and time when the compulsory
uveřejňovaná information sent for publication.
(3) Implementing law provides a range of relevant data according to
paragraph 2, the form and manner of publication of compulsory published
information and structure, form and manner of the sending of the Czech national
Bank. ".
116. in paragraph 127, the following new section 127a-127d, including headings and
footnote # 17b:
"section 127a
Way of making compulsory published information
(1) the Czech National Bank will make available to the public the information sent by her
pursuant to § 127 paragraph. 2 in a way that
a) meets the requirements for the security and reliability of the origin of the information,
(b)) contains a time record of inserting information materials that will be mandatory,
c) meets the requirements for easy availability of compulsory published
information for the end user and
(d)) enables you to through the electronic transmission of information resource
between the comparable system of other Member States of the European Union and
The Committee of European securities regulators.
(2) the Czech National Bank, without delay, in the manner referred to in paragraph 1
also available to the public, which will publish pursuant to § 122 para.
6, § 125 paragraph. 5 and § 126 paragraph. 11, and the information published in the State
that is not a European Union Member State, under the law of this
the State, which is in connection with the performance of the financial market supervision
know if disclosure of that information to the public may have in
The importance of the European Union.
section 127b
The Czech National Bank may conclude with the European Committee with the regulators
securities agreement on compulsory link published information
by means of electronic communications networks and on the administration of the network.
§ 127c
The language of publication of the
(1) the issuer referred to in § 118 paragraph. 1, whose investment securities is
admitted to trading on a regulated market shall publish the compulsory
uveřejňovanou information in English or in the language in which you can
to submit documents to the Czech National Bank.
(2) the issuer referred to in § 118 paragraph. 1, whose investment securities is
admitted to trading on a regulated market and at the same time a regulated market
established in a Member State of the European Union, which is not the Czech Republic,
compulsory uveřejňovanou shall publish the information in the English language or in a language
in which documents can be presented as the Czech National Bank, and later in English
language or in the language in which documents can be presented to the competent
supervisory authorities of the other Member States of the European Union.
(3) the issuer referred to in § 118 paragraph. 1, whose investment securities is not
admitted to trading on a regulated market shall publish the compulsory
uveřejňovanou information
and the) in the English language or the language in which documents can be presented as
supervisory authorities of the Member States, acting in the exercise of
supervision of the financial market, in which this investment securities
admitted to trading on a regulated market and
(b)) in Czech, English or in the language in which you can submit
documents of the Czech National Bank.
(4) the issuer referred to in § 118 paragraph. 1 if this is a valuable investment
the paper, whose nominal value is equivalent to at least EUR 50 000, or
If this is about investment securities specified in § 118 paragraph. 1 (b).
(b)) and its nominal value is equivalent to at least EUR 50 000 at the date of
emissions, on condition that such investment securities is admitted to
trading on a regulated market in one or more Member
States of the European Union, the Commission shall publish the information in a compulsory uveřejňovanou
the English language or in the language in which documents can be presented as the United
the National Bank, and in the language in which documents can be presented to the competent
supervisory authorities of the other Member States of the European Union, or in the
the English language.
§ 127d
Permit exemptions from the obligations to the issuer, which has its registered office in
a State which is a Member State of the European Union
(1) the Czech National Bank will allow an exception to the fulfilment of the obligations laid down
in section 118 to 120 to 119b, section 120b or in § 122 para. 15 or 16
the issuer, which has its registered office in a State which is not a Member State
The European Union and that under the law of that State shall carry out a comparable
obligations, if the obligor of the Czech National Bank shows that
an obligation from which the performance is to be enabled, the exception is comparable with
the obligation laid down in section 118 to 120 to 119b, section 120b or in § 122 para.
15 or 16.
(2) the Czech National Bank in accordance with a directly applicable regulation
Of the European communities, implementing directive of the European
Parliament and of the Council governing the prospectus and the directive of the European Parliament
and of the Council governing transparency requirements concerning information on
issuers ^ 17b), issues opinions on the comparability of the obligations
laid down by the laws of the State in which the issuer has referred to in
paragraph 1 of the registered office, with the obligations laid down in section 118 to 119b, § 120 up
120b or in § 122 para. 15 or 16.
(3) the issuer to whom the Czech National Bank has authorized, in accordance with paragraph
1 an exception is required for information published in accordance with the
the obligation laid down by the laws of the State in which it is situated, and that is
comparable with the obligations which the exception, Czech National Bank
allow, proceed similarly as the person the employer mandatorily
uveřejňovanou information pursuant to § 127 paragraph. 2 and § 127c.
17B) Commission Regulation (EC) no 1569/2007 of 21 December. December 2007
establishing a mechanism for the determination of equivalence of accounting standards
used by issuers of securities from third countries in accordance with the
European Parliament and Council directives 2003/71/EC and 2004/109/EC ".
117. In section 128 paragraph 1. 4, the words "specific legislation on
insurance "are replaced by the words" legislation
the insurance industry ".
118. In paragraph 130 paragraph 1. 4 (b). (d)), the words ' paragraph 1 ' shall be inserted after.
119. In § 132 paragraph. 1 and 4, the words "special legislation"
replaced by the words "the law governing bankruptcy and ways of its solution."
120. the heading of part of the ninth added: "the supervision and administrative PUNISHMENT".
121. In article 135 paragraph. 1 (b). (h)), the number "5" shall be replaced by the number "6".
122. In paragraph 135 para. 1 the letter q):
"q) the issuer referred to in § 118 paragraph. 1 in the performance of duties under this
the law ".
123. In section 135a para. 6, after the word "Republic" shall be inserted after.
124. In § 136 paragraph. 1 (b). I) after the word "papers", the words ",
trading in investment securities on a regulated market or in a
multilateral trading system ".
125. In § 136 paragraph. 1 at the end of the letter k) dot is replaced by a comma and
the following point l) is added:
"l) require the publication of materials that will be mandatory information or it
publicly available. ".
126. In § 138 para. 2 the words "the Special Act, which regulates the
banks "are replaced by the words" the law governing the activity of the bank ".
127. In paragraph 145, paragraph 5 is added:
"(5) the Czech National Bank may withdraw the consent given under this
the law, if there is a serious change in the facts on which the
the basis of the consent was granted. ".
128. In paragraph 151 paragraph 1. 1 (b). (d) point 3 (a)). e) point 1, the words
"special legal regulation concerning the supplementary supervision of financial
conglomerates "are replaced by the words" the law governing the supplementary supervision of
financial conglomerates. "
129. In paragraph 151 paragraph 1. 1 (b). j), the words "special legislation" shall be replaced by
the words "other legislation".
130. In paragraph 151 paragraph 1. 1 (b). t) of point 2, the comma after the word "Union" is deleted.
131. In § 152 paragraph 1. 1, the word "special" is replaced by "different".
132. In § 152 paragraph 1. 5 (b). (d)), the comma after the word "supervision" is deleted.
133. in the section basic equipment of paragraph 1. 1 the first sentence reads: "the head of the person of the financial
the holding of a person or a natural person, which controls the person or persons
referred to in § 151 paragraph 1. 1 (b). d) point 1 or 2 and not mixed
holding a person must have the prior approval of the performance of his duties
The Czech National Bank.
134. in the section basic equipment of paragraph 1. fourth sentence: "the consent of the relevant person must
request within 2 months from the date on which the person becomes a financial holding
or controlling individual. ".
135. In the ninth is in the title of title III, the word ' offences ' shall be
the words "OFFENCES".
136. In section 158 paragraph 2. 1 (b). (b)), the word "or" is deleted.
137. In section 158 paragraph 2. 1 (b). (c)), shall be replaced by "or", and
the following point (d)), which read as follows:
"d) fails to comply with the obligation of notification according to § 49 paragraph 1. 1 or information
the obligation pursuant to § 50 para. 1 to 6. ".
138. section 162, including the title reads as follows:
"§ 162
Administrative offences, to the issuer of certain investment securities and
other people meeting the obligations of the issuer
(1) the issuer or other legal or natural person-entrepreneur
asked about the adoption of the investment securities to trading on a
a regulated market without the issuer's consent, or regulated
the market, which itself has received investment securities to trading without
the issuer's consent, is guilty of an administrative offense by that, contrary to section
paragraph 127. 2
and does not compulsorily uveřejňovanou information),
(b)) has not sent the Czech National Bank obligatory uveřejňovanou information or
(c)) will not keep material information related to the compulsory uveřejňovanou
information.
(2) the issuer referred to in § 118 paragraph. 1 legal person or doing business
a natural person who is the issuer referred to in §§ 121a, commits
the administrative offense by
and does not submit to the organizer of the regulated market) located in a Member
State of the European Union, on which it is issued by the investment securities
admitted to trading, or the Czech National Bank the proposal referred to in § 120
paragraph. 1, or
(b)) in carrying out information obligations violates the prohibition in § 121.
(3) the issuer referred to in § 118 paragraph. 1 (b). a) or b) is guilty of an
the administrative offense by
and does not ensure equal treatment) pursuant to § 120 paragraph 1. 2 (a). and)
(b) does not guarantee the payment of the proceeds through) by the designated person under section
paragraph 120. 2 (a). (b)), or
(c)), or does not send a proxy form pursuant to § 120
paragraph. 3 or 4.
(4) the issuer of a financial instrument is guilty of an administrative offense to the fact that
contrary to section 125 paragraph. 4
and does not provide a list of people management) that have access to the internal
information of the issuer, or
(b)) list of people who have access to inside information of the issuer,
does the Czech National Bank.
(5) the issuer referred to in § 118 paragraph. 1 (b). a) or (b)), decided to
provision of information relating to the exercise of the rights of the owner issued by him
Security electronic means, is guilty of an administrative offense
by
and) contrary to § 120 paragraph 1. 5 (b). and binds the provision referred to)
electronic means of information on the residence or seat of the owner
a security agent authorized to represent it or persons referred to
in § 122 para. 2 (a). a) to (h)),
(b)) in violation of § 120 paragraph 1. 5 (b). (b) to secure the effective administration of the data)
or does not provide the technical conditions for data protection,
(c)) in violation of § 120 paragraph 1. 5 (b). (c)) does not inform the manner of
your decision to provide information to electronic means, or
(d)) in violation of § 120 paragraph 1. 5 (b). d) does not provide information related to the
exercise of the rights of the owner of the securities electronic means each
the owner of the securities issued by him or any person referred to in section
paragraph 122. 2 (a). a) to (e)).
(6) the issuer referred to in § 118 paragraph. 1 (b). and) is guilty of an administrative
tort by
and) does the invitation to the general meeting or similar gathering
owners of securities or shares representing the issuer
notice of the holding of such a gathering of owners of securities
It also contained the elements under section 120a para. 1,
b) contrary to section 120a para. 2 does or does not send the schedule of payment
the yield or other monetary transactions, details of the financial institution or
information on the outcome of the negotiations at this point in the hearing, or
(c) does or does not send the information) about the impact of the decision under section 120a
paragraph. 3 on the rights of the owner of a security, or information about the outcome of
the negotiations at this point is an infringement of § 120a para. 3 or 4.
(7) the issuer referred to in § 118 paragraph. 1 (b). (b)) is guilty of an administrative
offense that does not ensure that the notice of meeting of owners
bonds or similar gathering of owners of securities
representing the right to repayment of the amount owed if the requirements contained
under section 120b para. 1.
(8) For administrative offence is imposed in the
1 0000 0000 Czk), in the case of an administrative offence under paragraph 3 (b). (c)),
paragraph 5, paragraph 6 and paragraph 7,
(b)) 10 0000 0000 CZK in the case of an administrative offence referred to in paragraph 1, paragraph 2,
paragraph 3 (b). and) or (b)) or paragraph 4. ".
139. In paragraph 164 of paragraph 1. 1 (b). (c)), the words "article 11" shall be replaced by ' paragraph 10b ".
140. In paragraph 164 of paragraph 1. 1 (b). (d)), the words "§ 11 (1) 8 or 9 "shall be replaced by
the words "§ 10e para. 1 "and the words" section 104a of the paragraph. 8 or 9 "shall be replaced by
the words "section 104a of the paragraph. 2. "
141. In article 165, paragraph 2 shall be deleted.
Paragraphs 3 to 7 shall become paragraphs 2 to 6.
142. In § 165 paragraph. 3 the comma after the words "paragraph. 5 "is deleted.
143. In § 165 paragraph. 4 letter a) is added:
"and acquires or disposes of) financial instrument contrary to section 124 para. 4 (b).
and) or try, ".
144. In § 165 paragraph. 6 (a). and), the words "paragraph 2, paragraph 3 (b). and)
or (b)), paragraph 4, paragraph 5, or paragraph 6.0 "shall be replaced by
"paragraph 2 (a). and) or (b)), paragraph 3, paragraph 4 or paragraph 5 ".
145. In § 165 paragraph. 6 (a). (b)), the number "3" is replaced by "2".
146. In § 166 paragraph. 1 letter b), the words "or the head of the organizational
the folder "are replaced by the words", the head of the organizational folder or
the controlling entity referred to in § the basic equipment of paragraph 1. 1. "
147. In § 166 paragraph. 1 (b). (d)), the words "article 11" shall be replaced by ' paragraph 10b ".
148. In § 166 paragraph. 1 (b). e), the words "§ 11 (1) 8 or 9 "shall be replaced by
the words "§ 10e para. 1 "and the words" section 104a of the paragraph. 8 or 9 "shall be replaced by
the words "section 104a of the paragraph. 2. "
149. In paragraph 167 paragraph. 1, after the words "person" the words "or
the controlling person referred to in section the basic equipment of paragraph 1. 1. "
150. In section 167, paragraph 6 is added:
"(6) means a natural person who has applied for admission of investment securities
to trading on a regulated market without the issuer's consent, the
commits an offence, contrary to section 127 paragraph. 2
and does not compulsorily uveřejňovanou information),
(b)) has not sent the Czech National Bank obligatory uveřejňovanou information or
(c)) will not keep material information related to the compulsory uveřejňovanou
information. ".
151. In paragraph 167 paragraph. 7 letter a) is added:
"and acquires or disposes of) financial instrument contrary to section 124 para. 4 (b).
and) or try, ".
152. In section 167, paragraph 8, the following paragraph 9 is added:
"(9) a natural person who is the issuer referred to in section 121a commits
violation by
and does not submit to the organizer of the regulated market) located in a Member
State of the European Union, on which it is issued by the investment securities
admitted to trading, or the Czech National Bank the proposal referred to in § 120
paragraph. 1, or
(b)) in carrying out information obligations violates the prohibition in § 121. ".
The former paragraph 9 shall become paragraph 10.
153. In paragraph 167 paragraph. 10 (a). (c)), the words "paragraph 7 or paragraph 8"
replaced by the words "paragraph 7, paragraph 8 or paragraph 9".
154. In paragraph 167, the following paragraph 11, which read:
"(11) for the offence referred to in paragraph 1 can be used to save a ban in the 5
years. ".
155. In paragraph 196, at the end of paragraph 1, the following sentence "the language in which you can
to submit documents for the purposes of section 127c, establishes the Czech National Bank
The Czech National Bank in the form of official notice in the Gazette of the Czech national
Bank. ".
156. In section 197 (f). (c)), the comma after the word "settlement" is deleted.
157. In § 198a para. 1 (b). and) the words "specific legislation on
the way the promulgation of legislation "shall be replaced by" law
adjusting the way the promulgation of legislation ".
158. In § 199 para. 2, after the words "§ 10 para. 4.0 "the words" § 10 d
paragraph. 4, ", the words" § 39 para. 4 "shall be replaced by the words" § 39 para. 5 ",
the words "§ 46 para. 2.0 "with the words" § 47 para. 1, ", the words" paragraph 104a
paragraph. 4 "shall be replaced by" section 104a of the paragraph. 1 ", the words" § 122 para. 15 "
replaced by the words "§ 122 para. 17 "and the words" § 126 paragraph. 6.0 "
the words "§ 127 paragraph. 3. "
Article. (II)
Transitional provisions
1. consent to the acquisition, reaching or exceeding the qualifying holding
the trader in securities or with his dominating granted pursuant to
Act No. 256/2004 Coll., on the capital market, as amended by
effective until the date of entry into force of this Act shall be deemed to consent to the
the acquisition or increase of a qualifying holding in the stock trader
papers or its controlling pursuant to Act No. 256/2004 Coll., on business
on the capital market, in the version in force from the date of entry into force of this
the law.
2. Write a bound representative conducted pursuant to Act No. 256/2004 Coll., on
the capital market, in the version in force until the date of entry into force of
This Act shall be deemed registration under 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 operator of a securities settlement system, which on the date of entry into force of
This law carries out activities to which the permit is required under section 83
paragraph. 15 of Act No. 256/2004 Coll., on the capital market, in
the version in force from the date of entry into force of this law, may, in this
activities continue without a permit for a maximum period of 6 months from the date of
entry into force of this Act.
4. Permission to publish only the accounts or the consolidated only
financial statements in accordance with § 118 paragraph. 6 of Act No. 256/2004 Coll., on business
on the capital market, in the version in force until the date of entry into force of this
the law, the effective date of this Act.
5. the provisions of Act No. 256/2004 Coll., on the capital market,
in the version in force from the date of entry into force of this Act, the Governing
the annual report, consolidated annual report, semi-annual report
the consolidated half-yearly report and the interim management report shall apply for the first time in
accounting period closest to following the accounting period in which the
the law becomes effective.
6. after the period of one year from the date of entry into force of this law may not
The Czech National Bank to proceed under section 127a 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. The way in which the Czech National Bank will make available
compulsorily released the information sent to him under section 127 paragraph. 2 of law No.
256/2004 Coll., on the capital market, in the version in force from the date of
entry into force of this law, may not up to 30. September 2011 permit
through the electronic transmission of information resource under section 127a
paragraph. 1 (b). d) of Act No. 256/2004 Coll., on capital
the market, in the version in force from the date of entry into force of this Act.
7. the procedure for the imposition of corrective measures or sanctions, launched
to the date of entry into force of this law shall be completed in accordance with existing
legislation. Measures to remedy or penalty is saved by
the existing legislation.
8. the discussions which have taken place until the date of entry into force of this Act,
be assessed according to Act No. 256/2004 Coll., on the capital market,
in the version in force until the date of entry into force of this Act. Measures to
remedy or sanctions for breaches of Act No. 256/2004 Coll., on business
capital market, in the version in force until the date of entry into force of this
law, are saved according to the existing legislation.
9. the procedure for giving consent to the acquisition, reaching or exceeding the
qualifying holdings in the securities trader or with his
dominating the initiated into the effective date of this Act shall be completed
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; period, which
started by Act No. 256/2004 Coll., on the capital market,
in the version in force until the date of entry into force of this Act, running from the date of
entry into force of this Act again.
Article. (III)
Regulation (EEC)
Shall be deleted:
1. Decree No 264/2004 Coll., on the form and manner of the sending of the annual report
and half-yearly reports of the issuer and of the securities quoted on the way
the performance of the obligation to notify of the voting rights.
2. Decree No. 458/2004 Coll., amending Decree No 264/2004 Coll., on
the form and manner of the sending of the annual report and half-yearly reports of the issuer
global security and how compliance with the obligation to notify the share
of the voting rights.
3. Decree No. 536/2004 Coll., which implements certain provisions of
the law on the capital market in the area of protection against
market abuse.
4. Decree No. 92/2007 Coll., amending Decree No 536/2004 Coll.
implementing some of the provisions of the law on business
the capital market in the area of protection against market abuse.
5. Decree No. 240/2007 Coll., amending Decree No 264/2004 Coll., on
the form and manner of the sending of the annual report and half-yearly reports of the issuer
global security and how compliance with the obligation to notify the share
of the voting rights, as amended by Decree No. 458/2004 Sb.
PART TWO
Changing the law on supervision in the field of capital market
Article. (IV)
Law No. 15/1998 Coll., on surveillance in the capital market and amending and
additional laws, as amended by Act No. 30/2000 Coll., Act No.
362/2000 Coll., Act No. 366/2000 Coll., Act No. 312/2002 Coll., Act No.
309/2002 Coll., Act No. 256/2004 Coll., Act No. 626/2004 Coll., Act No.
381/2005 Coll., Act No. 56/2006 Coll., Act No. 57/2006 Coll., Act No.
70/2006 Coll., Act No. 224/2006 Coll., Act No. 324/2006 Coll., Act No.
296/2007 Coll., Act No. 104/2008 Coll., Act No. 230/2008 Coll., Act No.
250/2008 Coll. and Act No. 254/2008 Coll., is amended as follows:
1. In section 8 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) require the publication of a mandatory published) information according to law
regulating the capital market ^ 5); This information to the United
the National Bank shall make available to the public, to do so required the person. ".
2. In § 13 para. 1 (b). x) the words "securities traders and
foreign persons that have their registered office in a State which is not a Member
State of the European Union, and who provide investment services in the United
Republic through an organizational folder ' are replaced by the words "persons
other than those referred to in subparagraphs y) and z) ".
3. In section 14 is at the end of paragraph 2 the following sentence "the final decision,
which does not grant consent to the acquisition or increase of qualifying
the participation of the person who is subject to supervision of the Czech National Bank, or with
its dominating, the Czech National Bank may disclose the manner by
paragraph 1 shall apply if the person to whom this agreement the Czech national
the Bank has not granted you. ".
PART THREE
Amendment of the Act on the bonds
Article. In
Act No. 190/2004 Coll. on bonds, as amended by law No 378/2005 Coll.
Act No 56/2006 Coll., Act No. 57/2006 Coll., Act No. 296/2007 Coll. and
Act No. 230/2008 Coll., is amended as follows:
1. In paragraph 12, at the end of paragraph 6 the following sentence "the approval of the Czech
the National Bank is not required to change of issue conditions due to
the adoption of the decision of the meeting of the owners for the provision of information on
the exercise of the rights of the owners of these bonds electronic means
under special legislation. ".
2. In paragraph 19 of the text at the end of paragraph 6, the words ", subject to the
special legislation provides otherwise ".
PART FOUR
Amendment of the Act on banks
Article. (VI)
Act No. 21/1992 Coll., on banks, as amended by Act No. 265/1992 Coll.,
Act No. 293/1993 Coll., Act No. 154/1994 Coll., Act No. 83/1995 Coll.
Law No. 84/1995 Coll., Act No. 61/1996 Coll., Act No. 306/1997 Coll.
Act No. 16/1998 Coll., Act No. 125/1998 Coll., Act No. 167/1998 Coll.,
Act No 120/2001 Coll., Act No. 239/2001 Coll., Act No. 320/2001 Coll.
Act No. 126/2002 Coll., Act No. 461/2003 Coll., Act No. 256/2004 Coll.,
Act No. 435/2004 Coll., Act No. 377/2005 Coll., Act No. 413/2005 Coll.
Act No 56/2006 Coll., Act No. 57/2006 Coll., Act No. 62/2006 Coll.
Act No. 70/2006 Coll., Act No. 159/2006 Coll., Act No. 189/2006 Coll.
Law No 443/2006 Coll., Act No. 120/2007 Coll., Act No. 296/2007 Coll.
Act No. 126/2008 Coll., Act No. 216/2008 Coll., Act No. 230/2008 Coll.,
Act No. 254/2008 Coll. and Act No. 433/2008 Coll., is amended as follows:
1. Footnote 1 is added:
"1) European Parliament and Council Directive 94/19/EC of 30 March 2004. may
1994 on deposit guarantee schemes.
European Parliament and Council Directive 2001/24/EC of 4 April 2003. April 2001 on the
reorganisation and winding up of credit institutions.
European Parliament and Council Directive 2006/48/EC of 14 July 1999. June 2006
about the access to the activity of credit institutions and on its performance
(recast), as amended by Directive of the European Parliament and of the Council
2007/44/EC.
European Parliament and Council Directive 2006/49/EC of 14 July 1999. June 2006
on the capital adequacy of investment firms and credit institutions
(recast).
European Parliament and Council Directive 2004/109/EC of 15 December 1999. December
2004 on the harmonisation of transparency requirements in relation to information about
issuers whose securities are admitted to trading on a
a regulated market and amending Directive 2001/34/EC, as amended by Directive
The European Parliament and of the Council 2008/22/EC.
Commission Directive 2007/14/EC of 8 June 2004. in March 2007, which establishes the
the detailed rules for implementing certain provisions of Directive 2004/109/EC on the
harmonisation of transparency requirements in relation to information about
issuers whose securities are admitted to trading on a
a regulated market.
European Parliament and Council Directive 2007/44/EC of 5 July 2004. September 2007,
amending Council Directive 92/49/EEC and directives 2002/83/EC,
2004/39/EC, 2005/68/EC and 2006/48/EC as regards procedural rules and
the evaluation criteria for the prudential assessment of acquisitions and increase of
participation in the financial sector. "
2. In article 1 (1). 4 the second sentence, after the words "its operation and the operation"
the words "controlled" and the word "Bank" and the words ", above
which the Bank carries out inspection "shall be deleted.
3. In section 4, paragraph 4. 5 (b). (c)), the word "competence" is replaced by
"the credibility and competence".
4. In section 4, paragraph 4. 5 (b). (c)), the words "(§ 17a. 4) "are replaced by the words
"(§ 17a. 3) ".
5. In section 4, paragraph 4. 5 (b). (d)), the words "the competence, credibility"
replaced by the words "credibility, competence" and the words ", which
are based on work or other agreement proposed in the Bank "
shall be replaced by the word "proposed".
6. In article 8, paragraph 1, including a reference to footnote # 1a
repealed.
Paragraphs 2 to 5 shall be renumbered 1 to 4.
7. In § 8 para. 1, after the word "authority" is inserted after the word "Bank".
8. In section 8 paragraph 2 reads as follows:
"(2) a member of the Board of the Bank and the employee of the Bank shall not be
at the same time the statutory authority, a statutory body or a member of the
the supervisory authority of another legal person, who is an entrepreneur. It
does not apply for membership
and statutory authority) or supervisory authority for the performance of functions
statutory body of another bank, a foreign bank or financial
institutions that are part of the same consolidation unit as the Bank
(§ ^ 26 d),
(b)) in the Supervisory Board of another legal entity controlled by the Bank,
(c)) in the statutory body, the supervisory authority or for the performance of functions
of the statutory authority of the regulated market with investment
Tools,
(d)) in statutory body, the supervisory authority or for the performance of functions
statutory authority for undertaking ancillary services or
(e)) in statutory body, the supervisory authority or for the performance of functions
the statutory body of housing cooperatives or similar foreign person. ".
9. In § 11a paragraph 2 reads as follows:
"(2) the Bank and the branch of a foreign bank that does not enjoy the benefits of the single
license under the law of the European communities, publishes details of the
the performance of prudential rules on an individual basis; It
does not apply, if the
and controlling Bank) [section 26 d, paragraph 1 (b))],
(b) a responsible Bank in the Group) European financial holding of the person [section
26 d of paragraph 1. 1 (b). o)],
(c) the responsible Bank in the Group) foreign controlling Bank [section 26 d
paragraph. 1 (b). p)], or
(d) the controlled person in the Group) European controlling Bank [section 26 d (1)
(a). l)] in the Group of the European financial holding of the person [section 26 d (1)
(a). n)] or in the Group of foreign controlling Bank [section 26 d (1)
(a). I)], and it shall be, when the publication of data on a consolidated
basis. ".
10. in § 12 para. 1, the second sentence shall be deleted.
11. in section 17 paragraph 1 reads:
"(1) the Bank may acquire a stake in another legal person, establish a different
a legal person or to participate in its formation, if
and) does not become a member having unlimited liability,
(b)) it's not about a person who has a qualifying holding in a Bank, unless the
of the securities held by that person in the short term in order to
trading and the Bank shall comply with the rules for the acquisition, financing and
the assessment of the Czech National Bank assets of a specified pursuant to section 14 (a). (c)),
(c)) are not legal or other obstacles to providing information to this
the person of the Bank and for the provision of information by the Bank for the purposes of
supervision over the activities of the Bank and the transparency is preserved of the consolidation
a whole, the Bank is a member of, and a close link in the consolidation
unit does not prevent the exercise of supervision over the activities of the Bank, or
(d)) the investment is in line with the overall strategy of the Bank and the Bank shall be governed by the
the risks associated with this investment, in particular in terms of potential liabilities
the Bank arising out of it. ".
12. in section 17 paragraph 5 is added:
"(5) the restrictions provided for in paragraph 2 does not apply to qualified participation banks
a person in respect of the claim resulting from the Bank for that person, if the Bank
hold a qualifying holding for rescue operations or financial
the reconstruction of this person or his undertaking within a maximum of 3 years from the date of
its acquisition. ".
13. in § 17 paragraph 7 is added:
"(7) the Bank shall without undue delay notify the Czech national
Bank acquisition of qualifying holding referred to in paragraph 2. At the request of the United
the National Bank is required to demonstrate compliance with the conditions referred to in paragraphs 1 and
2. ".
14. In article 17, the following paragraph 8 is added:
"(8) a share" means the share (§ 17a. 1) or the sum of the
indirect shares. ".
15. In Article 17a, paragraph 1 shall be deleted.
Paragraphs 2 to 5 shall be renumbered 1 to 4.
16. In Article 17a. 1 the words "vicariously," shall be deleted and the words
"above you, or over which they exercised control" shall be replaced by
"that are controlled by".
17. In Article 17a. 3, the words "or their sum, which represents
at least 10% of the capital of a legal entity or of voting
the rights in the legal entity or the possibility of the application of the relevant influence on
business management of another person "shall be replaced by the words" or of the capital
voting rights of the person or their sum, which represents at least
10%, or exercise significant influence over its management ".
18. In Article 17a shall be inserted after paragraph 3 a new paragraph 4 to 10, which
including footnote # 4b:
"(4) for the purposes of calculating the qualified participation in the Bank will be included and
shares in the capital or of the voting rights,
and at the disposal of another person) which, acting in concert with the person referred to
in section 20 (2). 3,
(b)) that a person referred to in section 20 (2). 3 the possibility of temporarily
have for consideration,
(c)) that were the person referred to in section 20 (2). 3 provided as collateral
If such person shall publish a statement that the voting rights of the
exercise,
(d)) that the person referred to in section 20 (2). 3 lifetime usufruct,
e) held within the meaning of letter a) to (d)) a person controlled by a person
referred to in section 20 (2). 3,
(f)) that a person referred to in section 20 (2). 3 manages worked or are
stored, if it was not the owner of the given special instructions
on voting,
(g)) that has the option in its own name on behalf of a person referred to in section 20 (2). 3
carry out the other person, or
h) that are exercised by a person referred to in section 20 (2). 3 on the basis of
authority, where such rights can exercise at its discretion, and if it
were not the principal granted any special instructions on how to vote.
(5) in calculating the share of the voting rights arising from participation in the
the Bank shall not be counted from the voting rights of the securities,
relating to the securities that the Bank or the person who has
the permissions of another Member State to act as a Bank, in their able to
direct connection with underwriting, or placement of securities ^ 4b),
If it does not exercise the voting rights or otherwise does not interfere with
the management of the issuer of such securities, and if these securities
disposes of 1 year from the date of their acquisition.
(6) the market maker under the law governing the capital market
the share of voting rights resulting from participation in the Bank
not including the voting rights which do not exceed the proportion of 5% of the
all voting rights of the Bank, if not exercising the voting rights
or in any other way does not interfere with the management of the Bank.
(7) the person controlling person authorised for the purpose of asset
customers under the law governing the capital market, or
a foreign person who is authorised by another Member State to
the provision of investment services, similar to the proportion of the voting rights
resulting from participation in the Bank's voting shares shall not be counted
the rights that apply to the property that manages the controlled
person, if
and) controlled the voting rights exercised only in accordance with written
the customer, or
(b)) a controlling person does not intervene in any way in the exercise of those
of the voting rights.
(8) a controlling person of the investment company or foreign investment
company to the holding of voting rights resulting from participation in the
the Bank does not count the voting rights that are associated with the property in the
collective investment funds, which manages the controlled
person if the controlling person does not intervene in any way in the exercise of
such voting rights.
(9) the conditions referred to in paragraph 7 or 8 applies to the controlling person
only if shall send without delay the Czech National Bank
and) details of the controlled entity referred to in paragraph 7 or 8 in the range
provided for in section 20 (2). 16, under whose supervision authorities
they are subject,
(b)) Declaration of compliance with the conditions laid down in paragraph 7 or 8 and
c) changes in the details referred to in point (a)), or changes in the Declaration
referred to in point (b)).
(10) the controlling person referred to in paragraph 7 or 8 at the request of the Czech national
the Bank without undue delay shall demonstrate that
a) controlling entity and the controlled entity has an organizational arrangement
allowing that the voting rights are exercised in accordance with paragraph 7 of the
(a). (b)) or paragraph 8,
(b)), when a controlling person is a customer controlled person from
written documentation shows that their relationship is usually in contact with the
other customers.
4B) section 4 (4). 2 (a). g) and (h)) and section 4, paragraph 4. 3 (b). f) of Act No. 256/2004
Coll. on the capital market, as amended by Act No. 230/2008 Coll. ".
The current paragraph 4 shall become paragraph 11.
Former footnote No. 4b and 4 c are referred to as comments below
line no 4 c and 4 d, including links to a footnote.
19. in paragraph 19 (b). (c)), the words "having control over the Bank" shall be replaced by
the words "controlling a bank."
20. In paragraph 19 (b). (d)), the words "having control over the Bank" shall be replaced by
the words "controlling the Bank."
21. in paragraph 19 (b). f), the words "under their control" shall be replaced by
"they operated".
22. in paragraph 19 (b). (h)), the words "over which he has control of the Bank" shall be replaced by
the words "which the Bank controls".
23. section 20 reads as follows:
"section 20
(1) the Bank may issue shares to which voting rights, is only
as book-entry shares.
(2) in addition to the shares, which carry the right to vote, they can be the Bank
issued preferred shares. With those shares, however, not voting
the right, even in cases where the commercial code provides otherwise.
(3) the person or persons acting in concert, must have the permission of the United
the National Bank of
and the acquisition of a qualifying participation) in the Bank;
(b)) to increase a qualifying holding in the Bank so that it reaches or
more than 20%, 30% or 50% or so
(c)) to have become the persons controlling the Bank, even in the case
that these persons voting rights attaching to the following acquired interest in the Bank
do not exercise; nevykonáváním voting rights, there is no change in the share
the voting rights of those or other people.
(4) the Czech National Bank not later than 2 business days from the date of receipt of the
the request for approval referred to in paragraph 3 shall confirm to the applicant in writing of its
adoption and shall inform it of the date on the end of the time limit for
examination of the application provided for in paragraph 6. The request contains information about a person
or persons intending to acquire or increase a qualifying holding on
the Bank or the Bank to dominate, bank details, you want to be this participation
acquired, increased or that has to be mastered, an indication of the total amount of
the proportion of the applicant on this bank acquisition or increase of qualifying
participation reaches or gets control of the data of the person, and that the share of the
the applicant is transferred. To the application, the applicant shall be accompanied by the documents necessary for
examination of the application in terms of compliance with the conditions referred to in paragraph 9.
Request for consent can be made only on the prescribed form, to the
which the applicant shall be accompanied by documents certifying compliance with the conditions referred to
in paragraph 9. Patterns of the forms and content of the annexes thereto lay down South
National Bank by Decree.
(5) the Czech National Bank asks for the opinion of the supervisory authority of another
the Member State of the European Union after the adoption of the request for consent in
the cases referred to in paragraph 3, if a person with a qualified
the participation of the person who is asking to grant consent, is a person who has
the authorization of the supervisory authority of the Member State to act as a Bank,
an electronic money institution, insurance undertaking, reinsurance undertaking, investment
company or provider of investment services, or is the controlling
a person of such a person.
(6) If a submitted application is incomplete, or if you suffer from other disabilities, Czech
National Bank by 50. the day of the time limit laid down in paragraph 7
in writing, shall invite the applicant to remedy the deficiencies of the application, where appropriate, to
the submission of further information necessary for the examination of the application, and
receipt of the information requested by the applicant, in writing, the Czech National Bank
will confirm within the time limit referred to in paragraph 4. The date of dispatch of the invitation to run
the time limits laid down in paragraph 7 be interrupted, for a maximum period of 20
working days. The time limit laid down in paragraph 7 shall be suspended until the
a period of 30 working days, provided the applicant has his domicile, and) its registered office or place of
doing business in a State which is not a Member State, or (b)) is not subject to
the supervisory authority of the Member State of the European Union of the executing the supervision of
banks, electronic money institutions, insurance undertakings, reinsurance undertakings,
provider of investment services, investment companies or
standard funds under the law governing collective investment.
(7) the Czech National Bank will issue a decision on the application within 60
working days from the date of dispatch of the written acknowledgement of receipt of the application
in accordance with paragraph 3. If the Czech National Bank decision within this period
unless otherwise instructed, the approval was granted. This does not apply in the case of a request for
consent submitted in accordance with paragraph 11.
(8) the Czech National Bank in assessing the application examines only the fulfilment of the
the conditions referred to in paragraph 9 and not take into consideration the economic
the needs of the market.
(9) the Czech National Bank request if, in terms of the potential impact
on the performance of the activities of the Bank are subject to the following conditions:
and) persons asking to grant consent, are trusted,
(b)) of the person, which are designed for senior staff of the Bank, meet the
without any apparent doubt the condition of trust, competence
and experience,
c) sufficient volume, transparency of origin and lack of financial resources
of the applicant in relation to the activities carried out and planned in the Bank,
(d)) the Bank will continue to be able to fulfil prudential rules on the
individual and consolidated basis,
(e) the structure of the consolidated Group), to which the Bank is to be included,
do not prevent the effective supervision of the Bank, effective exchange of information between
The Czech National Bank and the supervisory authority of another Member State, that
exercises supervision over the financial market, or neznesnadňuje performance
the scope of individual institutions, supervision of the consolidation and total
persons included in the consolidated Group, and
(f)) in connection with the proposed acquisition or increase of qualifying
participation in the Bank do not arise reasonable grounds for concern that it could violate the
the law governing the measures against the legalization of proceeds of crime
and the financing of terrorism, or that such infringement has occurred.
(10) a person who without the prior consent of the Czech National Bank will take
or increase a qualifying holding in a bank or it will dominate, is required to
to inform about this fact immediately to the Czech National Bank and without
undue delay, it may ask for your consent in accordance with paragraph 3.
(11) the consent referred to in paragraph 10 in cases of particular interest
of grant.
(12) the acquisition or increase of a qualifying holding in a bank or its
domination without the prior consent of the Czech National Bank does not result in
an invalid legal act, on the basis of which these changes in the holdings of the
the Bank, however, the voting rights attaching to holdings acquired in this way
may be exercised, and that by the time of the grant of such consent.
(13) the decision on the request for the Czech National Bank
and may limit the period for) the acquisition of the participation referred to in paragraph 3,
b) conclusions of the resulting from opinions, who received the procedure
in accordance with paragraph 5 before issuing a decision.
(14) the person, or persons acting in concert, without undue delay, notify the
The Czech National Bank,
and lower their qualifying holdings) to the Bank so that it drops below 50%,
30% or 20% or completely cease, or
(b)) down a qualifying holding in the Bank, so that it ceases to
control.
(3) the notification referred to in paragraph 2 containing the information about the person or persons
reduce or pozbývajících your qualified participation in the Bank or
about a person or persons přestávajících to control it, bank details, on which
This participation is reduced or pozbyta or which ceases to be controlled,
the total amount of the share of the Bank after its reduction and data on
the person or persons who share the Bank acquire or increase.
(16) for the purposes of an application referred to in paragraph 4 and the notification referred to in paragraph 14, the
information about the person means:
and legal persons) in the business name or the name, registered office and identification
number, if assigned,
(b)) in natural persons first and last name, date of birth, social security number,
If it was allocated, the address of the residence; for business to
commercial register business name, or place of business, and
the identification number, if assigned.
(17) the Bank shall be obliged to inform the Czech National Bank about all
the changes, if these changes shall be subject to the procedure referred to in paragraph 3 or 14, and
immediately after discovery of the facts. "
24. in section 20a para. 1 the words "on the Bank's share was acquired" shall be replaced by
"participation in the Bank was acquired", number "9" shall be replaced by the number "13", the words
"section 20 (2). 7 "shall be replaced by the words" § 20 para. 11 "and after the words" later in
cases where "shall be inserted after the words" person does not fulfil the obligation of notification
under section 20 (2). 10 or ".
25. in section 20a para. 1 at the end of subparagraph (b)) a comma is replaced by a dot and the
subparagraph (c)) shall be deleted.
26. in section 20a para. 2, the words "as a result of concluded contracts and control
This contract was concluded without the consent pursuant to section 20 (2). 3 or
the time limit under section 20 (2). 9 and has not been granted consent pursuant to section 20 (2). 7 "
replaced by the words "pursuant to section 20 (2). 3 (b). (c)) without the prior consent
The Czech National Bank or after the time limit under section 20 (2). 10 and has not been granted
consent pursuant to section 20 (2). 11. "
27. In article 20a, paragraph 7 is added:
"(7) as a result of the fact that the owner of the shares, the shareholder has been suspended
the rights referred to in paragraph 1, there is no change in the share of the voting
the rights of shareholders or other persons. ".
28. in section 26 para. 1 (b). and at the end of the text), paragraph 9, the word "or"
deleted, at the end of the text of point 10 shall be supplemented with the word "or" and the following
point 11 is added:
"11. reduce the amount of their share in the other person or transfers his share in
that person to another person, or otherwise limit the risks arising from the share
the Bank in this person, ".
29. in section 26 para. 9, the words "persons who have infringed" shall be replaced by
"the person who violated" and at the end of paragraph 9, the words "
, section 20 (2). 3 or section 20 (2). 10. "
30. In section 38d (c)) shall be deleted.
Subparagraph (d)) to (h)) shall become point (c)) to (g)).
31. in section 41 at the end of paragraph 1, the following sentence "the provisions of the administrative
order on the possible termination of the decay of ^ 10) does not apply. ".
32. the footnote # 10 reads as follows:
"10) § 152 paragraph 1. 5 of the Act No. 500/2004 Coll., the administrative procedure code. ".
Article. (VII)
Transitional provisions
1. consent to the acquisition or increase of a qualifying holding in a bank or
the conclusion of the contract with the Bank granted pursuant to Act No. 21/1992
Coll., on banks, in the version in force until the date of entry into force of this Act,
shall be deemed to consent to the acquisition or increase of qualifying holding on
Bank or its controlling granted pursuant to Act No. 21/1992 Coll., on the
banks, in the version in force from the date of entry into force of this Act.
2. the procedure for the imposition of corrective measures or sanctions, launched
to the date of entry into force of this law shall be completed in accordance with existing
legislation. Measures to remedy or penalty is saved by
the existing legislation.
3. the discussions which have taken place until the date of entry into force of this Act,
assessed pursuant to Act No. 21/1992 Coll., on banks, in the version in force in
the effective date of this Act. Corrective measures or sanctions for
violation of Act No. 21/1992 Coll., on banks, in the version in force until the date of
entry into force of this law, are saved according to the existing legal
regulations.
4. the procedure for giving consent to the acquisition or increase of qualifying
participation in the Bank or to the conclusion of a contract with the Bank, launched in
the effective date of this Act shall be completed pursuant to Act No. 21/1992
Coll., on banks, in the version in force from the date of entry into force of this
the law; period, which began under Act No. 21/1992 Coll., on the
banks, in the version in force until the date of entry into force of this Act, running
from the date of entry into force of this Act again.
PART FIVE
Amendment of the Act on collective investments
Article. (VIII)
Law No. 189/2004 Coll., on collective investment, as amended by Act No.
377/2005 Coll., Act No. 57/2006 Coll., Act No. 70/2006 Coll., Act No.
224/2006 Coll., Act No. 296/2007 Coll., Act No. 126/2008 Coll. and act
No. 230/2008 Coll., is amended as follows:
1. Footnote 1 is added:
1) Council Directive 85/611/EEC of 20 December. December 1985 on the coordination of
laws, regulations and administrative provisions relating to collective
investment in transferable securities (UCITS), as amended by
Council Directive 88/220/EEC, the directive of the European Parliament and of the Council
95/26/EC, 2000/64/EC, 2001/107/EC and 2001/108/EC, 2004/39/EC, 2005/1/EC and
2008/18/EC.
Commission Directive 2007/16/EC of 19 June 2000. March 2007 implementing
Council Directive 85/611/EEC on the coordination of laws, regulations and administrative provisions
relating to undertakings for collective investment in transferable
Securities (UCITS) as regards the clarification of certain definitions. ".
2. In article 2 (2). 3, the words "that are typically used" shall be replaced by
"that usually trades".
3. In section 4, paragraph 4. 5, the words "is based" shall be replaced by "unless the
Fund of qualified investors only "may be set up, and at the end of the text
paragraph the words "for a maximum of 10 years".
4. in section 17(2). 2, after the words "time is" the word "minimum" and on the
the end of the paragraph, the following sentence "in the case that investment fund requests
the change of the Statute by section 101b, the notice period ends before the date of the acquisition of
the decision of the Czech National Bank on this request. ".
5. in section 18 at the end of the text of paragraph 2, the words "or the cost of
promotion and distribution of securities of the Fund for collective investment ".
6. In paragraph 20, paragraph 11 shall be deleted.
7. in section 21 para. 1 (b). (d)), the words "with the fact that this obligation shall
does not apply to the Fund for qualified investors, if the Statute does not provide for
otherwise, ' shall be deleted.
8. in article 21, the following paragraph 4 is added:
"(4) the Fund for qualified investors can be agreed upon in the contract depozitářské
reduction or elimination of checks referred to in paragraph 1 (b). d), (e)), g), (h)), and
(I)), if the details of these derogations listed in the Statute Fund. ".
9. in section 26 para. 1 at the end of the introductory part of the text of the provisions of the following
the word "liquid".
10. in section 26 para. 1 (b). g) point 3, the words "market value"
replaced by the words "the amount that can be achieved between informed
parties under current market conditions ".
11. in section 26 para. 1 (b). (h)), paragraph 4, the words ' assigned based people "
replaced by the words "company, contractual or similar structures
established for the purpose of securitization "and the words" credit "shall be replaced by
the words "service or product secured by a financial institution that is a person
set out in paragraph 3 ".
12. in section 26 para. 2, the word "or" is replaced by a comma and at the end of the text
the words "or commodity derivatives".
13. In article 26, the following paragraph 3 is added:
"(3) the requirements for qualitative criteria of investment securities and the
money market instruments in which the Fund may invest in standard
referred to in paragraph 1 shall lay down detailed legislation. ".
14. in section 27, paragraph 8 is added:
"(8) Implementing law provides
and species limits) use and requirements for qualitative criteria
the techniques and tools that can be used to effectively Fund standard
asset management,
(b)) the procedure for assessment of risk associated with investing and
the fulfillment method information obligations on the
1. types of derivative financial instruments not admitted to trading on the markets
referred to in § 26 para. 1 (b). and), which has a standard Fund in assets,
and risks associated with them
2. the quantitative limits and the methods which have been selected for
assessment of the risks associated with using these financial
derivatives,
c) requirements for the quality criteria of the investment securities or
money market instruments containing the derivative, which can
the standard fund invest. ".
15. In article 28, the following paragraph 11, which read:
"(11) the requirements for qualitative criteria the conditions under which
the standard composition of the Index Fund replicates the shares or bonds of a recognised
The Czech National Bank pursuant to paragraph 9, lays down the legal
prescription. ".
16. section 33 is added:
"§ 33
The standard Fund can accept credit or loan with a maturity of not more than 6
months. The sum of all loans and loans must not exceed 10% of the
the value of the Fund's assets. This is without prejudice to the limit under § 27 para. 4. ".
17. in paragraph 45, at the end of paragraph 2 the following sentence "the information referred to in
paragraph 1 (b). a) and b) shall be published in a manner allowing remote
access. ".
18. in § 45 para. 3 the first sentence, the words "and shall send them to the Czech National Bank
in electronic form "be deleted.
19. in § 49a para. 2 the words "§ 56 para. 6 "shall be replaced by the words" § 49b
paragraph. 3. "
20. In paragraph 49, paragraph 3 reads:
"(3) the Special Fund may accept credit or loan with a maturity of
not more than 6 months, with a summary of all loans and loans must not
exceed 30% of the value of the Fund's assets, unless the law provides otherwise
(section 53i para. 4 and 5). This is without prejudice to the limit under § 49b paragraph 1. 6. ".
21. in § 51 para. 2, after the words "10%" is inserted after the word "total" and
After the words "by the issuer and 10%" shall be inserted after the word "total".
22. in § 53d para. 1 (f)) repealed.
Letter g) is renumbered as paragraph (f)).
23. in section 53d after paragraph 1 the following paragraph 2 is added:
"(2) the condition referred to in paragraph 1 (b). (f)) may not be met if
as to the participation in other real estate companies, if
a) meets the requirements referred to in paragraph 1 (b). a) to (e)),
(b)) does not have the participation in other companies
(c) meets the requirements of by analogy) in accordance with paragraph 3,
d) acquisition of participation in this real estate company is not exceeded
limit referred to in paragraph 5,
e) statutory bodies of the participating companies shall decide no later than 3
months from the effective date of participation on this real estate company on the preparation
the merger of these companies with reference date laid down by the
the first day of the following accounting period, these companies and
f) such mergers will take place within 18 months of the effective date of participation;
for the acquisition of real estate companies, and participation on the other real estate
the company applies the provisions of paragraphs 7 to 9 ".
Paragraphs 2 to 8 shall become paragraphs 3 to 9.
24. In § 53d para. 3 at the end of the text of subparagraph (c)), the words "and
Once a year the financial statements certified by the auditor. "
25. In § 53d para. 4, the number "2" is replaced by "3".
26. in section 53i paragraph 5 is added:
"(5) a loan provided by the right of lien to real estate may special
Real Estate Fund received only for the purpose of acquisition of the real estate to their
assets or maintain or improve the condition. The total amount of the loan may not
exceed 70% of the value of the acquired real estate. ".
27. in § 56 para. 5, the last sentence shall be deleted.
28. in paragraph 57, at the end of the text of paragraph 1, the words ", however, if
holds the information obligation against the Czech National Bank under this Act,
sends information in the form and manner specified for the annual and half-yearly
report of the investment company or the Fund for collective investment
laid down in the implementing regulation referred to ".
29. Footnote 4 is added:
4) Decree No. 603/2006 Coll., on collective pool of information obligations
investing and investment companies.
30. In paragraph 60, the text at the end of paragraph 6, the words "or
the Czech National Bank registered pursuant to paragraphs 7 to 10 ".
31. in section 60, the following paragraph 7 to 10 are added:
"(7) for more business investment company may engage in
only after it has been registered, the Czech National Bank. For more business
the activity of the investment companies may only involve the activities directly
related to the Administration's own assets.
(8) the Czech National Bank for more business activities of the applicant
registers and shall issue to the applicant a certificate of registration. In the case that for
registration of additional business activities are not given the reasons for the Special
sight worthy that the Czech National Bank will assess, in particular, taking into account
as to whether the registration of this additional work will contribute to improving the quality of
the activity of investment companies, refusal of registration would cause
the investment company, major damage, or, what is the scope,
the complexity and nature of this additional work, the Czech National Bank registration
will be rejected.
(9) in the decision about the registration of additional business activities may Czech
the National Bank to limit the scope of the registered activities, where appropriate, provide for
the conditions which must comply with the investment company before the start of each
of the registered activities, where appropriate, to be followed by its
performance.
(10) the Czech National Bank cancels the registration, if the investment
company in writing of the cancellation of the Czech National Bank asks. ".
32. In § 64 para. 1 introductory part of the provisions for the word "Fund"
the words "whose assets will be maintained on the basis of the Treaty on the
management, "and after the word" application "with the words" founder
or ".
33. In § 64 para. 1 (b). (e)), the word "founders" is deleted.
34. In § 64 para. 1 at the end of the text of the letter g), the words ";
the ban does not apply to non-monetary contributions fund of qualified investors ".
35. In § 64 para. 2, the part of the sentence after the semicolon including semicolon shall be deleted.
36. In § 64 para. 3, the second sentence shall be deleted.
37. in paragraph 64, the following new section 64a, which including the title reads as follows:
"§ 64a
Granting of an authorisation to an investment fund, whose assets will be managed in an
investment company
(1) the Czech National Bank has granted permission to the activities of the investment fund,
that will have concluded a contract for the management, at the request of
the founder or founders of joint-stock company prior to the date of its
entry in the commercial register, if
and) conditions are met according to § 64 para. 1, in addition to the conditions referred to in
(d)), e), (h) and (i)))
(b) the application is accompanied by) the contract for the management of, the business plan
investment company and investment fund business plan describing the
the intentions of the founder or founders,
c) investment company, which will be the assets of the investment fund
managed, confirming that the proposed senior management have the knowledge,
experience and the credibility needed for the management of such investment
the Fund,
d) investment company, which will be the assets of the investment fund
to manage, has material, personnel and organizational prerequisites for
management of the assets in the investment pool.
(2) § 64 para. 2, 3 and 5 shall apply mutatis mutandis.
(3) a participant in the administrative procedures for granting authorisations
Investment Fund under this provision is also the investment
the company, which will be the assets of the investment fund to manage. ".
38. In paragraph 71, the following paragraph 12, which reads as follows:
(12) paragraphs 1 to 11 shall not apply in the case of participation in the investment
the Fund, which has concluded a contract of management. ".
39. In § 72 para. 3 (f)):
"(f)) that he has sufficient experience of collective investments,
by investing in the asset that is focused investment policy
Investment Fund or mutual fund investment companies, or with
the performance of the functions in relation to the activities referred to in article 15, paragraph 2. 3
and 4; Meanwhile, sufficient experience with collective investments
meets at least 1 person and sufficient experience with investing
to the asset that is focused investment policy of investment fund
or mutual fund investment companies, meet at least 2 of the head
the person ".
40. In paragraph 72, the following paragraph 4 is added:
"(4) the head of the person of mutual fund that has concluded a contract of
management may not have to perform their function of the consent referred to in paragraph
1 if the performance of its functions in favour of the written prior consent of the
the administrating investment company; provided such consent is
that the person concerned has the knowledge, experience and credibility required
for the management of such investment fund. In the event of a major change in the
the facts on the basis of which consent was granted, the investment
the company in writing. Granting and withdrawal of consent shall be sent by
investment company note to Česká národní banka. ".
41. In the title of § 74, the words "and the internal rules of operation" shall be deleted.
42. In section 74 para. 1 at the end of the text of the letter b), the words "and
the risk management system. "
43. In section 74 para. 3 the words "and the Organization's internal rules of operation"
shall be deleted.
44. In paragraph 77, at the end of the text of paragraph 1, the words ", or the participation of
on the investment of the Fund held no later than one year from the date of grant
authorised investment fund ".
45. In § 84a of paragraph 1. 2 (a). (b)), the words "shares or" shall be deleted.
46. In § 84a of paragraph 1. 2 (a). e), the words "or of the investment company"
shall be deleted.
47. In § 84a to the end of the text of paragraph 4, the words "or of the shareholders
This Fund ".
48. In § 88 para. 1 (b). a), the words "the deadline set" are replaced by
the words "at least one day prior to the date".
49. In section 88 para. 2, the words "States and" are deleted.
50. in paragraph 88, paragraph 4 reads:
"(4) the information referred to in paragraphs 1 and 2 of the investment company, or
Investment Fund shall publish and forward of the Czech National Bank, without undue
delay. Information about the facts referred to in paragraph 1 (b). a) and
paragraph 2 shall be sent by an investment company or investment fund once
on a monthly basis the information contains data relating to the final
day of the relevant month. ".
51. In paragraph 89 (c)):
"(c)) the data which contains information in accordance with § 88 para. 1 and 2 ".
52. In paragraph 91, at the end of the text of paragraph 2, the words ", in
form and manner laid down for sending annual and half-yearly reports
the investment company or the Fund for collective investment ".
53. In section 91 paragraph 2. 4, the word "property" is replaced by "custom
capital ".
54. In § 96 para. 3 at the end of the text of subparagraph (c)), the words ",
If the investment fund has lapsed as a result of the merger. "
55. the following section is inserted after Section 101a 101b, which reads as follows:
"§ 101b
The Czech National Bank will approve the change of the Statute of the investment fund, in
the context of the existing Treaty that ends the management only,
If an investment fund to provide evidence that the assumptions
and according to § 64 paragraph 1). 1 (b). d), (e)), h) and (i)), does not conclude a new contract
about management with another investment company, or
(b)) pursuant to § 64a para. 1 (b). (b)), and (c)), concluded a new Treaty
management with a different investment company. ".
56. In paragraph 119, the dot at the end of paragraph 1 is replaced by a comma and the following
the letter a), which reads as follows:
"for leading the charge) confirms the eligibility of the investment fund, which has
VLA management without prior to granting consent
review the compliance with the conditions for the grant of consent, or the consent of the
withdrawn it, although she had learned of the facts that the appeal
justify. ".
57. In section 119 paragraph 1. 2 (a). and) the words "or y)" shall be replaced by the words ", y)
or for) ".
58. In paragraph 127 paragraph. 1 at the end of the text of the letter e), the words "or
without the prior consent of the administrating investment company (§ 72
paragraph. 4) ".
59. In paragraph 131, the following paragraph 3 is added: "(3) in this Act
It talks about real estate, this means the property including its
accessories. ".
60. In section 139 (a). e), the words "standard or pool ' and the words ' paragraph 27
paragraph. 8 "shall be deleted and the word" United "is replaced by" connected ".
61. In section 139 (a). f), the words "on the structure of assets of the Fund of collective
investments "shall be deleted, the words" § 88 para. 1 (b). (c)) and paragraph 2. 2 "
replaced by the words "§ 88 para. 1 (a). 2 "and the words" and the information provided for in §
88 para. 1 (b). a) and b) "shall be deleted.
62. In paragraph 139 letters to) and l) are added:
"to) the species, limits, and qualitative requirements
the criteria of the techniques and tools that can be used to fund standard
the effective management of the property, the procedure for assessment
the risks associated with investing and the way of fulfilment of the reporting obligations of the
types of derivative financial instruments not admitted to trading on the markets
referred to in § 26 para. 1 (b). and), which has a standard Fund in assets,
about the risks associated with them, the quantitative limits and the methods
that have been chosen for the evaluation of the risks associated with the operations of the
using these financial derivatives, and qualitative requirements
the criteria of the investment securities or money market instruments
containing the derivative, in which the Fund may invest, in accordance with the standard
section 27 para. 8,
l) requirements for qualitative criteria of investment securities and the
money market instruments in which the Fund may invest in standard
pursuant to section 26 paragraph 1. 3. ".
63. In paragraph 139 at the end of the letter l) dot is replaced by a comma and the following
the letter m) is added:
"m) requirements for qualitative criteria the conditions under which the standard
the Fund follows the composition of the index of shares or bonds of a recognised the Czech
National Bank pursuant to § 28 para. 11. ".
Article. (IX)
Transitional provision
The investment company's investment policy it shall be managed
investment funds in accordance with the law No. 189/2004 Coll., on
collective investment, in the version in force from the date of entry into force of
This Act, not later than 6 months from the date of entry into force of this
the law.
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., Act No. 413/2005 Coll.
Act No 56/2006 Coll., Act No. 57/2006 Coll., Act No. 70/2006 Coll.
Act No. 120/2007 Coll., Act No. 296/2007 Coll., Act No. 126/2008.
and Act No. 254/2008 Coll., is amended as follows:
1. Footnote 1 is added:
1) European Parliament and Council Directive 94/19/EC of 30 March 2004. may
1994 on deposit guarantee schemes.
European Parliament and Council Directive 2001/24/EC of 4 April 2003. April 2001 on the
reorganisation and winding up of credit institutions.
European Parliament and Council Directive 2004/109/EC of 15 December 1999. December
2004 on the harmonisation of transparency requirements in relation to information about
issuers whose securities are admitted to trading on a
a regulated market and amending Directive 2001/34/EC, as amended by Directive
The European Parliament and of the Council 2008/22/EC.
European Parliament and Council Directive 2006/48/EC of 14 July 1999. June 2006
about the access to the activity of credit institutions and on its performance
(recast), as amended by Directive of the European Parliament and of the Council
2007/44/EC.
European Parliament and Council Directive 2006/49/EC of 14 July 1999. June 2006
on the capital adequacy of investment firms and credit institutions
(recast).
European Parliament and Council Directive 2007/44/EC of 5 July 2004. September 2007,
amending Council Directive 92/49/EEC and directives 2002/83/EC,
2004/39/EC, 2005/68/EC and 2006/48/EC as regards procedural rules and
the evaluation criteria for the prudential assessment of acquisitions and increase of
participation in the financial sector. "
2. In Article 1a(1). 1 (b). (f)), point 1, the words "(hereinafter referred to as" Member State ")"
shall be deleted.
3. In section 1a is at the end of paragraph 1, the period is replaced by a comma and the following
the letter q) is added:
"q) by the Member State, the Member State of the European Union or other State forming
The European economic area. "
4. In Article 2a, paragraph 2. 1 the second sentence, the word "Board" shall be deleted.
5. In Article 2a, the following shall be added at the end of paragraph 1, the phrase "a request for the grant of
consent can be made only on the prescribed form, to which the applicant
shall be accompanied by documents certifying that the conditions referred to in paragraph 4.
Patterns of the forms and content of the annexes thereto lay down the detailed legal
prescription. ".
6. In Article 2a, paragraphs 2 and 3 shall be deleted.
Paragraphs 4 through 13 shall become paragraphs 2 to 11.
7. In Article 2a, paragraph 2. 4, in the introductory part of the text, the words "the conditions for granting
permits are "are replaced by the words" to grant a permit must be met
the following conditions: ".
8. In Article 2a, paragraph 2. 4 (b). (b)), the word "material" shall be replaced by
"technical" and the word "factual" shall be replaced by the word "technical".
9. in section 2a paragraph 2. 4 (b). (d)), the word "competence" is replaced by
"the credibility and competence".
10. In section 2a paragraph 2. 6 and 7, the number "7" is replaced by "5".
11. in section 2a paragraph 2. 9 (a). and the number "6)" is replaced by "4".
12. in section 2a paragraph 2. 9 (a). (b)), the word "competence" is replaced by
"the credibility and professional competence".
13. in section 2a paragraph 2. 9 and 10, the number "6" is replaced by "4".
14. paragraph 2b is inserted:
"§ 2b
(1) a qualified interest for the purposes of this Act, a direct or
indirect share of the capital or of the voting rights of the person or
their sum, which represents at least 10% or to apply
a significant influence on its management. Indirect proportion for the purposes of this
the law means the share held by other persons or groups of
persons acting in concert.
(2) for the purposes of calculating the qualified participation in the cooperative savings bank in accordance with
paragraph 1 shall be counted and the shares in the capital or on the
the voting rights are exercised by a representative of the persons referred to in
paragraph 3, on the basis of power of attorney.
(3) the person or persons acting in concert, must have the permission of the United
the National Bank of
and the acquisition of a qualifying participation) on cooperative savings bank,
(b)) to increase qualifying holdings in the Credit Union they so that
reach or exceed 20%, 30% or 50% or so
(c)) to have become the persons controlling the Credit Union,
even in the case that these persons voting rights attaching to the shares, as follows
participation in the cooperative savings bank engaged; nevykonáváním voting
There is no change in the share rights of voting rights to these or any other
persons.
(4) the Czech National Bank not later than 2 business days from the date of receipt of the
the request for approval referred to in paragraph 3 shall confirm to the applicant in writing of its
adoption and shall inform it of the date on the end of the time limit for
examination of the application provided for in paragraph 6. The request contains information about a person
or persons intending to acquire or increase a qualifying holding on
cooperative savings bank or Credit Union to dominate, information about
cooperative savings bank, which is supposed to be such a participation is acquired, increased or
that has to be mastered, the total amount of the market share of the applicant on the
This cooperative savings bank acquisition or increase of qualifying holding
reaches or gets control of the data of the person, and that the applicant's share of the
Converts. To the application, the applicant shall be accompanied by the documents necessary for the assessment of
the application in terms of compliance with the conditions referred to in paragraph 9. The request for
consent can be made only on the prescribed form, to which
the applicant shall be accompanied by documents certifying compliance with the conditions referred to in
paragraph 9. Patterns of the forms and content of the annexes thereto lay down the Czech national
Bank by Decree.
(5) the Czech National Bank asks for the opinion of the supervisory authority of another
the Member State of the European Union after the adoption of the request for consent in
the cases referred to in paragraph 3, if a person with a qualified
the participation of the person who is asking to grant consent, is a person who has
the authorization of the supervisory authority of the Member State to act as a Bank,
an electronic money institution, insurance undertaking, reinsurance undertaking, investment
company or provider of investment services, or is the controlling
a person of such a person.
(6) If a submitted application is incomplete, or if you suffer from other disabilities, Czech
National Bank by 50. the day of the time limit laid down in paragraph 7
in writing, shall invite the applicant to remedy the deficiencies of the application, where appropriate, to
the submission of further information necessary for the examination of the application, and
receipt of the information requested by the applicant, in writing, the Czech National Bank
will confirm within the time limit referred to in paragraph 4. The date of dispatch of the invitation to run
the time limits laid down in paragraph 7 be interrupted, for a maximum period of 20
working days. The time limit laid down in paragraph 7 shall be suspended until the
a period of 30 working days if the applicant
a) has a domicile or place of business in a State which is not
Member State, or
(b)) is not subject to supervision by the Member State of the European Union
executing the supervision of banks, electronic money institutions,
insurance undertakings, reinsurance undertakings, investment services providers,
investment companies or funds in accordance with the law, standard
regulating collective investment.
(7) the Czech National Bank will issue a decision on the application within 60
working days from the date of dispatch of the written acknowledgement of receipt of the application
in accordance with paragraph 3. If the Czech National Bank decision within this period
unless otherwise instructed, the approval was granted. This does not apply in the case of a request for
consent submitted pursuant to paragraph 14.
(8) the Czech National Bank in assessing the application examines only the fulfilment of the
the conditions referred to in paragraph 9 and disregard for economic
the needs of the market.
(9) the Czech National Bank request if, in terms of the potential impact
on the performance of the activities of credit unions are subject to the following conditions:
and) persons asking to grant consent, are trusted,
(b)) of the person, which are designed for the control of the person and the Executive Management
function in a cooperative savings bank, without any apparent doubt fulfil the condition
trust, professional competence and experience,
c) sufficient volume, transparency of origin and lack of financial resources
the applicant, in relation to the activities carried out and planned in a cooperative
the savings bank,
(d)), the Credit Union will continue to be able to carry out the prudent rules
business to the individual and consolidated basis,
(e) the structure of the consolidated Group), to which the Credit Union
included, do not prevent the effective supervision of cooperative záložnou, effective
the exchange of information between the Czech National Bank and the supervisory authority of another
the Member State which exercises supervision over the financial market, or
neznesnadňuje performance of the individual institutions, supervision of the
consolidation and total over those included in this consolidation
a whole, and
(f)) in connection with the proposed acquisition or increase of qualifying
participation in the cooperative savings bank do not arise reasonable grounds for concern that could
be a violation of the law governing the measures against money laundering
crime and the financing of terrorism, or that such
violation has occurred.
(10) the decision on the request for the Czech National Bank
and may limit the period for) the acquisition of the participation referred to in paragraph 3,
b) conclusions of the resulting from opinions, who received the procedure
in accordance with paragraph 5 before issuing a decision.
(11) the person, or persons acting in concert, without undue delay, notify the
The Czech National Bank,
and lower their qualifying holdings) on cooperative savings bank so that
drops below 50%, 30% or 20%, or completely cease, or
(b)) lower their qualifying holdings in the Credit Union they so that it
cease to operate.
(12) the notification referred to in paragraph 11 contains the details of the person or persons
reduce or pozbývajících your qualified participation in cooperative
the savings bank or a person or persons přestávajících to control it, details of the
Cooperative Savings Bank and an indication of the level of participation in the cooperative savings bank after
reduction.
(13) for the purposes of an application referred to in paragraph 4 and the notice in paragraph 11 shall
information about the person means:
and legal persons) in the business name or the name, registered office and identification
number, if assigned,
(b)) in natural persons first and last name, date of birth, social security number,
If it was allocated, the address of the residence; for business to
commercial register business name, or place of business, and
the identification number, if assigned.
(2) the consent referred to in paragraph 3 can be used in cases of particular interest
of grant.
(15) the acquisition or increase of a qualifying holding in the cooperative savings bank
or her domination without the prior consent of the Czech National Bank has no
annulment of the legal act, on the basis of which these
changes in the holdings of the cooperative savings bank has, however, voting rights
associated with such participation shall not be exercised by the acquired, until
the grant of this consent.
(16) the consent referred to in paragraph 3 or the notice referred to in paragraph 11, the
not required if the acquisition of a qualifying holding or to increase
qualifying holding so that reach or exceed 20%, 30% or 50%
or to reduce the qualifying holdings below 50%, 30%, 20%, 10%, or
her loss otherwise than on the basis of the conduct of the person, or persons acting
in concert.
(17) consent to the acquisition of a qualifying holding in the cooperative savings bank is
and shall be deemed to consent to the acquisition of a direct or indirect share or
their sum, which represents less than 10% of the capital
the credit unions or of the voting rights in the Credit Union they.
Consent to the increase of a qualifying holding in the cooperative savings bank so that
reach or exceed 20%, 30% or 50% for a cooperative savings bank,
and for agreeing to increase such participation so that it reaches or
exceeds the direct or indirect interest, or their sum, which represents
less than the share of the capital credit unions or
voting rights in the Credit Union they. ".
15. the following paragraph shall be inserted after paragraph 2b 2 c is inserted:
"§ 2 c
(1) if the Czech National Bank, that of the person with a qualified
participation in the cooperative savings bank is contrary to section 1 (1). 5 (b). (b)), or
person became a qualifying holding or to increase a qualifying holding on
cooperative savings bank without the prior consent of the limits referred to in § 2b
paragraph. 3, shall decide on the suspension of rights of a person with a qualifying holding
to participate in the meeting and to vote on it, and the right to require that a
the meeting of members. You can only suspend the exercise of all of the above rights.
A participant in the proceedings is the only person with a qualifying holding and cooperative
a Credit Union. Brought by a decomposition does not have suspensory effect.
(2) the Credit Union will not allow the participation of the person to whom the Czech national
the Bank suspended the rights referred to in paragraph 1, the membership meeting. When
the eligibility assessment meeting of members of credit unions and
in the vote on the membership meeting is not taken into account the votes of the members whose
the right to participate in the meeting and the vote has been suspended.
The suspension of the rights referred to in paragraph 1, the Czech National Bank cancels, if-
the reason for his release.
(3) the Credit Union is required to inform the Czech national
Bank on the acquisition of or changes in qualifying holding people for a cooperative
the savings bank, if these changes, as well as the conduct of other members are
exceeded or reduced the limits referred to in section 2b of paragraph 1. 3 and 11, and up to 5
working days after discovery of the facts.
(4) as a result of the fact that a person with a qualified interest in the cooperative
the savings bank was suspended rights pursuant to paragraph 1, there is no change
share of the voting rights of that person or any other person. ".
16. in paragraph 3, at the end of paragraph 3, the following sentence including notes
footnote No. 3f and 3 g added: "this time limit does not apply to property acquired
on the basis of the precautionary práv3f conversion) under the civil code or
on the basis of the conversion of the hedging financial instrument ^ 3 g) according to the
the commercial code.
3F) § 553 of Act No. 40/1964 Coll., the civil code, as amended
regulations.
3 g) § 323f of Act No. 513/1991 Coll., the commercial code, as amended by
amended.
17. in section 4 paragraph 2 reads as follows:
"(2) the membership rights and obligations (hereinafter referred to as" members ")
the legal successor of a member who died or disappeared. If it is not legal
the successor of a person eligible for membership in the cooperative savings bank, membership
the legal successor of the transition of rights does not arise. "
18. in section 4, paragraph 2, the following paragraphs 3 to 5 shall be added:
"(3) the allocation of rights of a member who died or disappeared, while
their transition to the successor is not permitted.
(4) the Member is entitled to membership rights to any other person. If they are
the subject of the transfer of membership rights of the only other Member of the deposit, you can
This convertible only to member credit unions. Agreement on the transfer of
membership rights to the transferee shall be subject to the consent of the Board of Directors of the cooperative
unions. If in the agreement on the transfer of rights is not the date
later, the transferee shall become the membership rights transferred by decision of the
the Board of Directors for the approval of the transfer of rights. If
transfer of membership rights subject to the granting of prior consent of the United
National Bank referred to in paragraph 5, the purchaser may acquire the transferred Member
rights at the earliest on consent to the Czech National Bank.
(5) if the transfer of membership rights should result in that the transfer
acquiring the membership rights acquired, a qualifying holding in the cooperative
the savings bank or the qualifying holding so that it reaches the limits of the
laid down in § 2a para. 3, the transfer of membership rights subject to the
prior approval of the meeting of members of credit unions and the granting of an
the prior consent of the Czech National Bank. Request for consent
must be made within 30 days by a cooperative záložnou from the date of approval of the agreement
on the transfer of membership rights membership meeting. Annexed to the application form
membership meeting approved the agreement on the transfer of rights, writing
the meeting, which approved the agreement on the transfer of membership rights and
the documents necessary for the assessment of the criteria referred to in § 2a para.
9. For management and decision making of the Czech National Bank on the request for the grant of
the consent to the provisions of § 2a para. 4 through 10 shall apply mutatis mutandis. ";"
Paragraphs 3 to 5 shall be renumbered 6 to 8.
19. Section 4a is deleted.
20. in section 4b of paragraph 1. 2, the words "paragraph 3" shall be replaced by ' paragraph 2b, paragraph 1.
3. "
21. in section 4b, paragraphs 3 and 4 shall be deleted.
Paragraphs 5 to 7 shall become paragraphs 3 to 5.
22. In article 4b, the following paragraph 6 is added:
"(6) determine if the statutes, a person is leaving the Member contribution after the occurrence of
credit unions have to pay along with the basic member contribution
or other Member contribution and premium. Method of determining the premium determined
the statutes. Paid premium is part of the cooperative venture fund
unions. ".
23. in paragraph 5 of the letter m) is repealed.
Letters n) and o) are referred to as letters m) and (n)).
24. in section 6 (1). 6 the last sentence, the word "sent" is replaced by
"granted" and at the end of the sentence the words "manner according to the statutes".
25. In section 7 (2). 7, the number "5" shall be replaced by the words "10 working" and the number
"30" is replaced by the number "60".
26. in Section 7a of the paragraph. 1 at the end of subparagraph (a)) the following paragraph 3 is added:
"3. the sound administrative and accounting procedures".
27. in section 7b of the paragraph. 1 the words "the deposit under section 4b of paragraph 1. 3 "are replaced by
the words "Member contribution".
28. in section 7b, paragraph 2 reads as follows:
"(2) the Credit Union also publishes data on the implementation of the rules
a prudent business and risk management on an individual basis; It
does not apply, if the
and the responsible cooperative záložnou) in the Group of the European financial
the holding of the person
b) responsible záložnou in the group controlling cooperative credit
institution, or
(c) the controlled person in the Group) that controls a credit institution or in the
a group of European financial holding persons and it shall be when
publication of data on a consolidated basis. ".
29. in § 9 para. 2, the second sentence shall be deleted.
30. in article 9, paragraph 3 shall be deleted.
Paragraph 4 becomes paragraph 3.
31. in section 27a, paragraph 5 shall be deleted.
Paragraphs 6 to 8 shall be renumbered as paragraphs 5 to 7.
32. In section 27a para. 7, the number "6" is replaced by "5" and "1, 2, 3,
5 and 7 ' shall be replaced by "1, 2, 3, and 6".
33. In paragraph 2 of section 27b. 1 (b). e), the words "§ 2b, paragraph 1. 5 "shall be replaced by the words" §
2 c of paragraph 1. 1. "
34. In section 27b para. 1 (b). f), the words "§ 2b, paragraph 1. 7 "shall be replaced by the words" §
2 c of paragraph 1. 3. "
35. In section 27b para. 1 the letter m) be deleted.
Letter n) is referred to as the letter m).
36. In section 27b para. 2 (a). (d)), the number "5" shall be replaced by ' 10
working ".
37. In section 27b para. 2 (f)) repealed.
Subparagraph (g)) and m) are known as the letters f) to (l)).
38. In paragraph 2 of section 27b. 3, the words "paragraphs 2 (a). g) and (j)) "shall be replaced by
"paragraph 2 (a). (f)) and i) ", the words" paragraph 1 (b). a) and b), (c). (d))
-m) "shall be replaced by" paragraph 1 (b). a) and b), (c). (d) to (l))) "
the words "paragraphs 2 (a). (b)), d), (e)), f), (h)), i), k), (l) and (m))) "
replaced by the words "paragraphs 2 (a). (b)), d), (e)), g), (h)), j), k) and (l)) ".
39. In paragraph 28 is at the end of paragraph 8, the following sentence "the provisions of the administrative
order on the possible termination of the decay of ^ 18e) shall not apply. ".
Article. XI
Transitional provisions
1. consent to the acquisition or increase of a qualifying holding in the cooperative
the savings bank or with its dominating granted pursuant to Act No. 87/1995 Coll., on
savings and credit cooperatives and some measures with the
related and the addition of the Czech National Council Act No. 586/1992 Coll., on the
income tax Act, as amended, (hereinafter referred to as "the law of
savings and credit cooperatives "), in the version in force before the date of application
the effectiveness of this law, shall be deemed to consent to the acquisition or increase of
qualified participation in the cooperative savings bank or its mastering by
the Act on savings and credit cooperatives, in the version in force from the date of
entry into force of this Act.
2. consent to the acquisition or increase of a qualifying holding so that it reaches the
or exceeds 20%, but does not reach or exceed 33% of the cooperative
the savings bank granted under the law on savings and credit cooperatives, in
the version in force until the date of entry into force of this Act shall be deemed to
consent to increase a qualifying holding so that it reaches or exceeds
20% under the Act on savings and credit cooperatives, as amended by
effective from the date of entry into force of this Act, if the person or persons
acting in concert does not increase before the date of entry into force of this Act
on the basis of this consent the qualified participation in cooperative savings bank
so it reached or exceeded 30%. If this person or these persons
acting in concert were increased prior to the effective date of this Act to the
the basis of the consent granted before the date of entry into force of this Act
qualified participation in cooperative savings bank, that has or
exceeded 30%, shall be deemed to consent to an increase in qualified
participation in a way that reaches or exceeds 30% according to the law on savings and
credit cooperatives, in the version in force from the date of entry into force of this
the law.
3. the procedure for the imposition of corrective measures or sanctions, launched
to the date of entry into force of this law shall be completed in accordance with existing
legislation. Measures to remedy or penalty is saved by
the existing legislation.
4. The negotiations which have taken place until the date of entry into force of this Act,
be assessed according to the existing legislation. Measures to remedy or
penalties for violations of the existing legislation is saved under the Act
the savings and credit cooperatives, in the version in force before the date of application
the effectiveness of this Act.
5. the procedure for giving consent to the acquisition or increase of qualifying
participation in the cooperative savings bank or with its dominating initiated to date
entry into force of this law shall be completed in accordance with the Act on savings and
credit cooperatives, in the version in force from the date of entry into force of this
the law; period, which began before the date of entry into force of this
the law, running from the date of entry into force of this Act again.
6. the procedure for giving consent to insertion of another Member of the deposit according to the
§ 4 b paragraph 1. 3 of the Act on savings and credit cooperatives, as amended by
effective until the date of entry into force of this Act, initiated by the date of acquisition
the effectiveness of this law, shall be completed pursuant to the Act on savings and
credit cooperatives, in the version in force until the date of entry into force of this
the law; period, which began under the Act on savings and
credit cooperatives, in the version in force until the date of entry into force of this
the law, running from the date of entry into force of this Act again. In the case of
that the deposit by inserting another Member will take a qualifying holding
on the cooperative savings bank or increase your qualified participation in
cooperative savings bank so that it reaches the shares set out in § 2b, paragraph 1. 3
the Act on savings and credit cooperatives, in the version in force from the date of
entry into force of this Act, the consent of the Czech National Bank
awarded in this proceeding also for consent under section 2b, paragraph 1. 3 of the law on
savings and credit cooperatives, in the version in force from the date of acquisition
the effectiveness of this Act.
7. Claim credit unions against the debtor due to reimburse
obligations arising before the effective date of this Act is a cooperative
a credit union shall be entitled to unilaterally against the interest of the deposit, the deposits
and the debtor's share of the settlement.
PART SEVEN
cancelled
Article. (XII)
cancelled
PART EIGHT
Amendment of the Act on supplementary pension insurance with State contribution and changes
Some laws related to its introduction
Article. XIII
Act No. 42/1994 Coll. on supplementary pension insurance with State contribution and
about changes to certain laws related to its introduction, as amended by
Act No. 61/1996 Coll., Act No. 15/1998 Coll., Act No. 169/1999 Coll.
the Act No. 353/2001 Coll., Act No. 309/2002 Coll., Act No. 37/2004 Coll.,
Act No. 235/2004 Coll., Act No. 256/2004 Coll., Act No. 377/2005 Coll.
Act No 444/2005 Coll., Act No. 56/2006 Coll., Act No. 57/2006 Coll.
Act No. 70/2006 Coll., Act No. 342/2006 Coll., Act No. 296/2007 Coll.
Act No. 124/2008 Coll., Act No. 126/2008 Coll., Act No. 254/2008 Sb.
and Act No. 306/2008 Coll., is amended as follows:
1. in section 12, the following paragraphs 4 to 6 shall be added:
"(4) in connection with the conclusion, amendment and termination of the contract
Pension Fund or broker shall act in a competent manner, with integrity and
fairly and in the best interests of those interested in the conclusion of the contract (hereinafter referred to as
"candidate") or a participant.
(5) the pension fund or broker
and provide leads or not) to the employer in accordance with section 27 para. 5
remuneration, reward or advantage (hereinafter referred to as "incentive"), which may
lead to a breach of the duty to act competently, honestly and fairly, and
in the best interest of the lead,
(b)) when concluding the contract or its mediation is a candidate with a
professional care, in particular, must not indicate false, unsupported, incomplete,
inaccurate, unclear or ambiguous data and information, or concealing
data on the nature and characteristics of the services provided,
c) in written form shall inform the candidates about the essential facts
relating to the Pension Fund, its people as the provider of the
essential elements of the supplementary pension insurance, fees
charged to the participant, the amount of the commissions for the mediation and the other
the related costs of the Pension Fund.
(6) an incentive shall mean (i) unusual consideration for service or
any granting of undue advantages of financial, material or
intangible nature. ".
2. in section 24, the following paragraphs 4 to 6 shall be added:
"(4) a pension fund can provide the surrender value pursuant to § 23 para. 1 (b).
transfer of funds) and referred to in paragraph 1 dependent upon the
participant fee. The fee must not exceed $ 800. If it is not
fee has been paid within the time limit referred to in paragraph 2 or within the time limit under paragraph 23 of
paragraph. 3, will provide a pension fund surrender or transfer funds to a 5
days after the payment.
(5) the Fee referred to in paragraph 4 shall not be required after the expiry of 5 years from the date of
the emergence of supplementary pension schemes.
(6) Pension Fund shall inform the participant in writing of the amount of the fee referred to in
paragraph 4, and at the latest within 5 days from the date of receipt of the request of the participant
to grant the surrender or the transfer of funds ".
3. in section 27, paragraph 5, the following paragraph 6 is added:
"(6) the employer does not affect employees in the selection of the Pension Fund.
The employer may not take the incentive in connection with the provision
contribution to pension plans to their employees. ".
The present paragraph 6 is renumbered as paragraph 7.
4. in section 30 paragraph 2. 1, after the words "in accordance with section 29 of the" the words ", and it
electronic remote access ".
5. in section 30 paragraph 2. 1, the second sentence shall be deleted.
6. in section 30, paragraph 5 is added:
"(5) the pension fund passes to the Ministry a report on the return of the amounts
State contribution, and no later than the 10th day of each
calendar month in the manner referred to in paragraph 1. The Ministry handles
This information for the use of their information system. ".
7. in section 30 paragraph 2. 7, the words "Administration and" and the words "and administration"
be deleted and the words "Protocol on the return of the State" shall be replaced by
the word "messages".
8. In § 33 para. 5, after the words "collective investment ^ 11 c) ' shall be
the words ", with the exception of bonds held to maturity, and maximum
up to 30% of the assets of the Pension Fund, of which the issuer is a Member
State of the Organisation for economic cooperation and development and whose reviews
at least two internationally recognized credit rating agencies
fixed at the level of the Czech Republic or higher ".
9. in section 34 para. 4, in the first sentence the number "70" is replaced by "50".
10. In section 43a is inserted after paragraph 2 paragraph 3 and 4 are added:
"(3) a natural person pursuant to § 12 para. 3 committed by offense, by the
connection with the conclusion of the contract, its modification or termination, or
connection with the provision of the contract, amendments or
their acts in violation of § 12 para. 4 to 6.
(4) a natural person pursuant to § 27 para. 6 is guilty of an offence by limiting the
the right of their employees in the choice of pension fund, or by the fact that in
connection with the provision of the contribution to its pension schemes
employees shall adopt an incentive. ".
The former paragraph 3 shall become paragraph 5.
11. in section 43a paragraph. 5, the words "and 2" shall be replaced by "up to 4" and the number "100
000 ' is replaced by ' 1 000 000 ".
12. In paragraph 43b para. 2 letter d) is added:
"(d)) in connection with the conclusion of the contract, its modification or termination
This is contrary to section 12 paragraph 1. 4 to 6 ".
13. in paragraph 43b, paragraph 3 shall be inserted after paragraph 4 and 5 are added:
"(4) a legal person as a provider of supplementary pension insurance,
committing an administrative offense by that, in connection with the provision of
the conclusion of the agreement, its amendments or termination is contrary to section 12 paragraph 1.
4 to 6.
(5) a legal person pursuant to § 27 para. 6 committing an administrative offense
by limiting the right of employees in the choice of pension fund, or by
in connection with the provision of a contribution to their pension schemes
employees shall adopt an incentive. ".
The current paragraph 4 shall become paragraph 6.
14. in paragraph 43b para. 6, the words "and 3" shall be replaced by the words "to 5".
15. In paragraph 43c paragraph 3 the following paragraph 4 is added:
"(4) The liability for the acts, which took place in the business
person or in direct connection with it shall be subject to the provisions of this
the law on liability of legal persons and sanctions. "
Paragraphs 4 to 7 shall become paragraphs 5 through 8.
16. in paragraph 43c paragraph. 5, after the words "offence shall cease to exist", the words "and
the offense of physical persons cannot be discussed "and" 3 "are replaced by the
the words "to 5".
Article. XIV
Transitional provisions
1. Pension Fund may charge a fee pursuant to § 24 para. 4 for contracts
entered into before the effective date of this Act, only if the
claim under § 23 para. 1 (b). and) or according to § 24 para. 1 after
the effective date of this Act and if it is within 5 years from the date of
conclusion of the contract.
2. The provisions of § 33 para. 5 of Act No. 42/1994 Coll., on pension
insurance with State contribution, in the version in force from the date of acquisition
the effectiveness of this law shall apply to the financial period started 1. January
2009 and later.
PART NINE
Amendment of the Act on accounting
Article. XV
In § 27 para. 1 (b). c) of Act No. 563/1991 Coll., on accounting, as amended by
Act No. 114/1994 Coll., Act No. 227/1997 Coll., Act No. 492/2000 Coll.
the Act No. 353/2001 Coll., Act No. 575/2002 Coll., Act No. 441/2003 Coll.
Act No. 257/2004 Coll., Act No. 669/2004 Coll., Act No. 179/2005 Coll.
Act No. 495/2005 Coll., Act No. 57/2006 Coll., Act No. 81/2006 Coll.
Act No. 230//2006 Coll., Act No. 262/2006 Coll., Act No. 69/2007
Coll., Act No. 261/2007 Coll., Act No. 296/2007 Coll., Act No. 348/2007
Coll., Act No. 126/2008 Coll. and Act No 304/2008 Coll., the words
"financial investments" the words ", with the exception of bonds held-to-
maturity, the issuer is a Member State of the Organisation for
economic cooperation and development and the evaluation of at least two
internationally recognized credit rating agencies, determined at the level of the Czech
Republic or higher, unless it is about financial position relating to the
liabilities from life insurance, if investment risk
the policyholders ".
Article. XVI
Transitional provision
The provisions of § 27 para. 1 (b). c) of Act No. 563/1991 Coll., on accounting,
in the version in force from the effective date of this Act, shall apply to the accounting
the period started 1. January 2009 and later.
PART TEN
The EFFECTIVENESS of the
Article. XVII
This Act shall take effect on the first day of the first calendar month
following the date of its publication.
Vaidya in the r.
Klaus r.
Fischer v. r.
