282/2002 Sb.



LAW



of 30 March 2004. May 2002,



amending the Act No. 58/1995 Coll., on insuring and financing exports

with State support and supplement of Act No. 166/1993 Coll., on the highest

Audit Office, as amended, as amended

regulations, and Act No. 166/1993 Coll. on the Supreme Audit Office, in

as amended



Parliament has passed the following Act of the United States:



PART THE FIRST



Amendment of the Act on insurance and funding export with State support



Article. (I)



Act No. 58/1995 Coll., on insuring and financing export with State

support and supplement of Act No. 166/1993 Coll. on the Supreme Audit

the Office, in the wording of later regulations, as amended by law No 60/1998 Coll. and

Act No. 188/1999 is amended as follows:



1. sections 1 to 3, including headings and footnotes # 1) and (2)) shall be added:



"§ 1



(1) this Act regulates in accordance with the law of the European Communities ^ 1)

and obligations arising from the Czech Republic's membership in the world trade

Organization of the ^ 1) State aid granted in the form of export insurance

export credit risks, supported by funding and payment of interest

the differences.



(2) the insurance of export credit risks for the purposes of this Act,

means the



and) short-term export credit insurance against non-payment resulting

from political or combined political and market

unsecured commercial risks,



(b) long-term export credit) insurance against non-payment resulting

from political or combined political and market

unsecured commercial risks, or non-payment as a result of market

unsecured commercial risks,



(c) investment insurance) Czech legal entities abroad against

the territorial risks, mainly against the risk of preventing the transfer of the proceeds of

investment, expropriation or politically motivated violent

damage,



d) insurance against losses exporters associated with preparation and realization of

commercial activities,



e) credit insurance provided by the manufacturer or exporter for financing

production intended for export against the risk of default of the loan as a result of

the inability of the manufacturer or exporter to meet the conditions of the Treaty of



f) insurance of bank guarantees or other services provided by the Bank

the foreign exporter to a person in the exporter against the risk of non-compliance with contractual

the obligations of the contract of exportation, the exporter,



g) risk insurance of the Czech Crown exchange rate losses against foreign currencies arising from

in the case of claims due to the difference in exchange rate applied when

conclusion of the insurance contract and the rate applicable in the payment of insurance premiums

the performance,



h) ^ 2) reinsurance business to foreign credit insurance companies in

relation to the insurance coverage provided under subparagraphs), b) and (f)) in the context of

with the participation of exporters to supply goods or services to the importer

carried out by a foreign person, to the extent of the share of the exporter on the

these shipments.



(3) for the purposes of financing backed by this Act, the

short-term and long-term financing and the granting of export credits,

loans to finance production for exports, investments and loans

project financing and short-term and long-term financial

services related to export under the terms of this Act in the form of



and refinancing credits to the Bank, the exporter) on export financing, the Bank

exporter and manufacturer of the Bank on the financing of the production for export, the Bank

the investor to finance investments, Bank exporter on the project

financing and direct loans to exporters or foreign person

export financing, the exporters and producers to finance the production for export,

the investor to finance investment and exporters on the project

financing,



(b)) to export-related financial services, which include primarily



1. bank guarantee



2. the opening of letters of credit and payment systems and clearing,



3. the reinsurance operations,



4. the financing of local costs in the country of residence or permanent residence

the importer.



(4) the payment of the interest-rate difference for the purposes of this Act, the

the provision of subsidies to cover part of the interest-rate differences resulting exporters

from lower interest income provided supplier credits,

maturity of over two years compared with the interest costs of exporters,

related to the financing of these loans.



§ 2



Definition of terms



For the purposes of this Act, means the



and the investor's Bank, Bank) branch of foreign bank or financial

institutions, ^ 1b) that provides the investor or foreign person loan

related to the investment,



(b) the manufacturer's Bank, Bank) branch of foreign bank or financial

institutions, ^ 1b) that provides manufacturers the loan associated with the production of goods

or to the provision of services for export,



(c) the exporter's Bank, Bank) branch of foreign bank or financial

institutions, ^ 1b) that provides to the exporter or foreign person loan

export-related,



(d) supply a loan grant) interval between completing the

the obligation of the exporter and the importer to pay the exporter obligations for the implementation of

provided by the importer exporter export according to the Treaty,



e) importer foreign person who carries out the importation from the United

Republic,



(f) financing production for export) finance the production of goods and services before

making their exports,



g) financial services related to export activities carried out

Czech Export Bank, a. s., (hereinafter referred to as the "Export Bank") on the basis of

banking licence pursuant to a special Act, ^ 1b) that are related to

export,



h) financial markets domestic and foreign money and capital markets,



I) financial resources financial resources obtained primarily by issuing

bonds, the sale of bonds, or on the basis of credit agreements,



(j)) value of export price agreed in the contract of



to investment funds) or other valuable money values

or property rights for a period spent at least three years legal

by a person established in the territory of the Czech Republic, which is an entrepreneur, according to

the commercial code, for the purpose of establishing, the acquisition or increase of holding in

a legal person located outside the territory of the Czech Republic or in order to

extension of the business of the legal person,



l) investor legal person established on the territory of the Czech Republic, which

is an entrepreneur, according to the commercial code, and that investment spending,



m) capital markets and foreign markets with a maturity

provided by the financial resources of more than one year,



n) commercial risk the risk of non-payment of receivables from export credit

foreign private borrower because of its payment

the inability or refusal of payment,



the cost of spending on local) services and goods which are to be made

in the country of final destination of exports in accordance with the Treaty or

an agreement between the importer and the foreign person, either for exportation

or for the completion of the project or work, on which the exporter involved in the

connection with the Treaty on exports, and that will not be funded under the

more favourable conditions than are the conditions under which will be financed by the

export credit, while the amount may not exceed the amount of cash

payments paid by the importer to the exporter in accordance with the Treaty of



p) loan loan provided by the customer on the financing of the Treaty on

exports, according to the credit agreement concluded between the Bank, a branch of the foreign

Bank or financial institution ^ 1b) as a lender and a borrower,



r) other operations related to the acquisition of financial operations

resources to secure the liquidity of banks, including hedge

operations,



with the commitment of the insurance sum of values) of insured export

credit risks from insurance contracts concluded in the nominal amount, including

interest and charges, and terms of the reinsurance business, decreased by

the value of risk that has already disappeared, and the values of the contracts for the promise of insurance

in the amount of 50% of their nominal value,



t) project financing, a loan that is repaid and revenue

revenue from the activity of foreign persons established for the purpose of realization of

the project,



for direct loan) loan provided by the Bank, the exporter's export manufacturers,

investor or foreign person,



in re-financing loan) loan provided by the Bank's export Bank, the manufacturer,

the Bank, the exporter or Bank Investor



w) a contract for the export of the contract between the exporter and the importer concerning the export

goods or services, or the export of goods and services,



x the risk of non-payment risk through the territorial) receivables from export

the loan due to extraordinary and incidents in the country in which it is

exported, or in the country from which the payment of the claim is to be made, or

in a third country, such as the payment of public disapproval of the debtor,

decision of the third country, the prohibition of payments (the moratorium), impossibility or

the delay of the transfer of funds, the decision of the authorities in the country of

of the debtor, the decision of the authorities in the country of the insurer or the insured person and

the circumstances constituting force majeure,



s) market nezajistitelnými commercial risks commercial risks, which

the private market cannot be guaranteed commercial credit protection for

common conditions in international markets,




of the person in charge of a public debtor) the exercise of State authority or

public administration, that cannot be legally declared unable to meet their

liabilities, other persons are considered as private borrowers,



AA) manufacturer of natural person resident or a legal person

located on the territory of the Czech Republic, which is an entrepreneur by business

code and producing goods or providing services or producing goods and

provides services for subsequent export,



BB) exporter of natural person resident or a legal person

located on the territory of the Czech Republic, which is an entrepreneur by business

code and exporting,



CC) the export of goods or the provision of services or the supply of goods and

the provision of services to the importer according to the contract concerning the export for use outside

the territory of the Czech Republic,



DD) export credit supplier credit and consumer loan,



EE) a foreign person natural person resident or legal

person established outside the territory of the Czech Republic,



FF) foreign credit insurance company foreign person who provides

credit insurance with the support of the Member State of the Organisation for economic

cooperation and development,



Gg) securing the operations of the operation towards the limitation of in particular

currency, interest rate and other risks.



§ 3



Conditions of insurance of export credit risks, the provision of official

financing and payment of interest differences



(1) when insuring export credit risks and endorsed

the financing aspect of the risk shall be assessed by an export credit with

regard to ability to pay foreign persons in the position of the debtor and the

the country from which payment is to be made or claims to which it has

aim investments; for granted loans and bank guarantees,

assessing the risk of return, in particular the aspect of the ability to pay

the debtor and the ability of exporters to meet the terms of the contract.



(2) the provision of official financing, with the exception of financial services

related to export pursuant to § 1 (1). 3 (b). b) points 2 and 3, and payment

differences of interest are subject to the insurance of export credit risks

insurable export guarantee and insurance company, a. s.,

(hereinafter referred to as the "export insurance company") pursuant to § 1 (1). 2 if it is not

The Ministry of finance in agreement with the Ministry of industry and trade

consent with other security risks listed in § 1 (1). 2.



1) Council Directive 98/29/EC of 7 September 2004. May 1998 on harmonisation of the main

the conditions relating to export credit insurance for transactions with

medium and long-term insurance. Council decision 2001/76/EC of

on 22 November. December 2000 replacing the decision of 4 April 2003. April 1978 on

the use of certain policies in the context of officially supported export credits-

Arrangement on guidelines for officially supported export credits. The agreement on the

subsidies and countervailing measures published in the communication

Ministry of Foreign Affairs published in the collection of laws under no.

191/1995 Sb.



section 2 (b) 2). d) of Act No. 363/1999 Coll., on insurance and amending

some related laws (Act on insurance). ".



2. In section 4, paragraph 4. 1 the second sentence, the words "of the central authorities of the State

^ 2a) management "shall be replaced by the word" ministries "and in the third sentence, the words

"Central Government authorities" shall be replaced by the word "Ministry".



Footnote No. 2a), including links to this note

repealed.



3. In section 4, paragraph 4. 1 the fourth sentence, the words "special law ^ 3)" is replaced by

the words "the special law governing the insurance industry ^ 3)".



Footnote # 3):



"3) Act No. 363/1999 Coll., on insurance and amending certain

related acts (the Insurance Act), as amended

regulations. ".



4. In section 4, paragraph 4. 1 the last sentence, the words "excluding the elements referred to in

a special law ^ 4) "are replaced by the words" in addition to the requirements laid down in

commercial code ".



Footnote # 4), including links to this comment deleted.



5. § 4 paragraph 2 reads as follows:



"(2) the export insurance company may not constitute legal entities, or acquire

interests in legal entities, with the exception of



and export Bank),



(b) the acquisition of shares in legal) person who is the debtor, for

necessary to ensure the enforceability of claims against the debtor,



(c)) of a legal person in which the export insurance company by a majority

a partner whose business is insurance and reinsurance

in respect of credit insurance and insurance-related activities

or reinsurance activities, according to a special law governing

insurance, ^ 3) with the exception of insurance pursuant to this Act; to the establishment of

such legal persons should be the prior consent of the Ministry of

finances. On the legal person not covered by the State export support

under this Act. ".



6. In section 4, paragraph 4. 3 the first sentence, the word "Funds" ^ 5) ' is replaced by

"Funds" and footnote 5) is repealed.



7. in section 4, paragraph 4. 3 the third sentence, the word "regulations ^ 5a)" shall be replaced by

"the law governing the creation of reserves for insurance companies and for

the purposes of determining the tax base from income, 5a) and ^ equalization reserve

for the insurance of export credit risks pursuant to § 1 (1). 2 make up

export insurance company separately ".



Footnote No. 5a):



"5a) Act No. 593/1992 Coll., on reserves for the determination of the tax base of the

income, as amended.



Decree No. 75/2000 Coll., implementing Act No. 363/1999 Coll., on the

insurance and amending certain related laws (the law on the

insurance). ".



8. In section 4, paragraph 4 reads:



"(4) for insurance of export credit risks in export insurance company

the Ministry of Finance shall submit for the approval of basic economic

parameters of the newly introduced types of insurance of export

the credit risks, in particular, their business plan; in doing so secures the

rational use of subsidies from the State budget and State guarantees. "



9. in section 4, paragraph 4. 8 letter a) is added:



"and the details of the export insurance company), primarily on the amount of its basic

capital, changes in the composition of the ministries, which undertake the shareholder

rights of the State, changes in the composition of the Board and of the Supervisory Board, and further

balance of export insurance company ".



10. in paragraph 5 of the title is: "the elements of the application for insurance of export

credit risks ".



11. in § 5 para. 1, after the words "submitted by the exporter", the words ",

the manufacturer, the investor, the Bank manufacturer, export Bank ".



12. in § 5 para. 2 the introductory sentence, the words "referred to in paragraph 1" shall be replaced by

the words "on insurance of export credit risks" and after the words "shall be obliged to

"the following words" at least ".



13. in § 5 para. 2 (a). (b)), the words "assets and the possible participation of

foreign persons on his business ' are replaced by the words "commercial

property and structure of its members ".



14. in § 5 para. 2 (a). (c)), the word "subject" shall be deleted and the end of the text

subparagraph (c)), the following words "and the range of a bank guarantee or other

banking services provided in connection with export ".



15. in section 5, the dot for the letter d) is replaced by a comma and the following

the letter e), which reads as follows:



"(e)) the particulars referred to in the insurance terms and conditions of export insurance company.".



16. in § 5 para. 3, after the words "requests", the words "of the insurance

export credit risks ".



17. In paragraph 6, in the heading the word "Beneficiary" shall be replaced by "Supported".



18. in section 6 (1). 1 the first and second sentences with the word "privileged"

replaced by the word "supported".



19. in section 6 (1). 1 third sentence, the words "of the central authorities of the State

^ 2a) management "shall be replaced by the word" ministries "and in the fourth sentence, the words

"Central Government authorities" shall be replaced by the word "Ministry".



20. In paragraph 6 (1). 1 the fifth sentence, the words "special laws ^ 9)" are replaced by

the words "special laws governing banking ^ 9)".



21. in section 6 (1). 1 the sixth sentence, the words "excluding the elements referred to in

a special law ^ 4) "are replaced by the words" in addition to the requirements laid down in

commercial code ".



22. in section 6 paragraph 2, including footnote No. 8a):



"(2) the export Bank has supported by funding under section 1 (1). 3 and

performs related activities in accordance with the banking license issued in accordance with

Special Act. ^ 1b) export Bank has supported the financing of the

under the conditions of normal on the international markets for officially supported

export credits and export-related financial services. ^ 8a) resources

for supported funding gets the export Bank primarily on

financial markets.



8A), for example, Council decision 2001/77/EC of 22 December 2004. December 2000 on the

application of principles of a framework agreement on project finance in the field of

officially supported export credits. Council decision 2001/76/EC of 22.

December 2000 replacing the decision of 4 April 2003. April 1978 on the application of

certain principles in the context of officially supported export credits-arrangement on

guidelines for officially supported export credits ".



Footnote 10) is repealed.



23. in section 6 paragraph 3 reads:



"(3) the export Bank may not have an interest in legal entities, with the exception of



and) legal entities whose main activity is the provision and transfer of


interbank payments and transfer of the interchange of information,



(b)) shares in the persons who export Bank gets and holds

not more than one year after their acquisition in connection with the application of

reinsurance in accordance with § 8 para. 5,



(c)) legal persons for a specified period for the purpose of the security

the provision of official financing and obtaining financial resources, where is the

or to be export Bank in time of the acquisition of the majority

Companion; to the acquisition of a share in such a legal entity must be

the prior approval of the Ministry of finance. "



24. in section 6 (1). 6 the first sentence, after the words "requests", the words "of the

payment of interest differences ".



25. In section 6 (1). 6 (b)):



"(b)) the amount of their net assets and the structure of their

shareholders ".



26. in section 6 (1). 6 (a). (c)), the word "subject" is deleted.



27. in section 6 (1). 6 (a). (g)), the word "export" is deleted.



28. in section 6 (1). 7 (b). (c)), the word "beneficiary" shall be replaced by

"supported".



29. in section 6 (1). 8 the first sentence, the words "(a). (b)) point 2 shall be replaced by

"paragraph. 5 "and in the third sentence, the word" export "is deleted.



30. In paragraph 6 (1). 10, the words "paragraph. 5 "shall be replaced by" paragraph. 6. "



31. in section 6 paragraph 12 reads as follows:



"(12) to offset losses resulting from the operation of the export Bank

supported by financing, for the grant of which has been the subject of insurance

security or repayment in accordance with § 3 (1). 2, are provided

subsidies from the State budget. The losses are made up of differences between

posted interest revenues associated with the provision of official

the financing and the temporary use of the financial resources which are supported by

financing and posted interest costs on these sources,

the fees in writing agreed between creditor and export Bank, the United

in obtaining the financial resources, the creation of reserves and costs

adjustments pursuant to specific legislation governing

the creation of reserves and adjustments for banks, the differences between the proceeds from the

operations with financial derivatives and the costs associated with these operations,

the differences in exchange rates and other costs that were export Bank

demonstrably incurred in obtaining financial resources. The request for

the provision of subsidies to cover the loss presents the export Bank

The Ministry of finance. The method and procedure for the submission of applications for

the provision of subsidies to cover the loss and the method of payment of the subsidy

the Ministry of Finance shall lay down by Decree. "



32. In paragraph 6, paragraph 13 be deleted.



Paragraphs 14 to 18 become paragraphs 13 to 17.



33. In § 6 paragraph 13 reads:



"(13) If, exceptionally, the export Bank exceeds the limits of the credit

commitment provided for under special laws governing

banking ^ 9) and shall notify without delay the Czech national

the Bank, the Czech National Bank may, where justified, provide

Export Bank a deadline to comply with these limits. ".



Footnote 11) is repealed.



34. In section 6 (1). 14 the first sentence reads: "when you endorsed funding

advancing export Bank, according to the general terms and conditions. ".



35. In section 6 (1). 14 the second sentence, the words "and credits the Bank manufacturer" shall be deleted;

and the words "of exporters and manufacturers banks" are replaced by the words "which are

refinancing loans provided ".



36. In paragraph 6 (1). 15, the words "referred to in paragraph 3 shall be replaced by" referred to in

paragraph 14 of the "and the words" in agreement with the Czech National Bank "shall be deleted.



37. In section 6 (1). 16, first sentence, the word "special" is replaced by

"endorsed".



38. In section 6 (1). 16 (a). and), the word "property" is replaced by

"capital", the words "central authorities" with the words "ministries,

"and after the word" rights "shall be inserted after the word" State ".



39. In paragraph 6 (1). 16 (a). (b)), the word "beneficiary" shall be replaced by

"supported" and the word "soft" with the word "endorsed".



40. In paragraph 6 of paragraph 17 reads:



"(17) the application of the exceptions referred to in paragraph 3 is without prejudice to the provisions of

a special law on the restriction of banks in the acquisition and possession of shares in

legal entities. ^ 1b) ".



Footnote 12) shall be deleted.



41. section 7, including the title reads as follows:



"section 7 of the



Requirements for an application supported by funding



(1) an application for funding, supported by associated with individual export,

the applicant shall present an export Bank. Applicants for funding, supported by

the Bank, the exporter may be only, Bank, Bank, investor, producer

a foreign person, the exporter, the investor or manufacturer.



(2) in the application for funding, supported by the applicant is obliged to provide



and) elements listed in § 5 para. 2 (a). a) to (d)),



(b)) the particulars referred to in the terms and conditions of export

the Bank,



(c)) ^ 6) identification data of the Bank, a bank investor or exporter about the Bank

the manufacturer, unless the applicant for which are supported by funding, which is to be

supported by funding provided.



(3) an applicant for a supported by financing, which is to be this funding

granted, the Bank is obliged to provide data on its export base

capital, on its balance sheet, and other data relevant to the assessment of its

the ability to secure a return on a project supported by funding provided.



(4) on the basis of the submitted application for funding can export supported

the Bank shall conclude a contract for the provision of the loan, the contract for the provision of other

financial services related to exports or a contract on the promise of a loan

or the treaty promise of provision of financial services related to the

^ 8).



(5) The financing is not backed up by a legal claim. ".



42. In § 8 para. 1 (b). and the words "(a)). a) "is replaced by" paragraph.

2. "



43. In § 8 para. 4, the words "that the Ministry of finance grants in the agreement

with the Czech National Bank, ' shall be deleted.



44. In section 8, paragraph 5 is added:



"(5) to ensure the repayment of the subsidized financing provided with

excluding the refinancing of loans is obliged to arrange export Bank

ensure. ".



45. In § 8 para. 6, the word "beneficiary" shall be replaced by the words "with the

supported by ".



46. in section 8 shall be added to § 9, including footnote No 14):



"section 9



The provision of State aid under this Act must be in accordance with the

a special law governing the public support. ^ 14)



14) Act No. 59/2000 Coll., on public support, as amended by Act No.

130/2002 Coll. ".



Article II



The publication of the full text of the Act



The Prime Minister shall be empowered, in the collection of laws promulgated the full text

Act No. 58/1995 Coll., on insuring and financing export with State

support and supplement of Act No. 166/1993 Coll. on the Supreme Audit

authority, as amended, as is apparent from later laws.



PART TWO



Amendment of the Act on the Supreme Audit Office



Article. (III)



In section 3, paragraph 3. 5 of law No 166/1993 Coll. on the Supreme Audit Office, in

amended by law No 224/1994 Coll., Act No. 58/1995 Coll. and Act No.

239/2001 Coll., the word "privileged" is replaced by "supported".



PART THREE



The EFFECTIVENESS of the



Article IV



This Act shall take effect on the date of publication.



Klaus r.



Havel, v. r.



in the financial times in the r..