60/1998 Coll.



LAW



of 5 April 2004. on 31 March 1998,



amending and supplementing 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 Office, as amended



Parliament has passed the following Act of the United States:



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

authority, as amended, shall be amended and supplemented as follows:



1. the title of part one:



"INSURANCE AND FUNDING EXPORT WITH STATE SUPPORT".



2. § 1, including the title reads as follows:



"§ 1



The subject of the edit



The Act regulates State aid



and export credit risks) insurance, which means the insurance:



1. short-term export credits against non-payment resulting

from political or combined political and market

unsecured commercial risks, or



2. long-term export credits against non-payment resulting

from political or combined political and market

unsecured commercial risks, whether or not as a result of market

unsecured commercial risks, or



3. the investments of Czech legal entities abroad against the risk of avoidance

the transfer of the proceeds of investments, expropriation or politically motivated

violent damage, or



4. exporters against losses associated with the preparation and implementation of business

activities, or



5. loans to producers or exporters to finance the production of a specified

for the export against the risk of default of the loan as a result of the inability of the manufacturer

or the exporter to meet the conditions of the export contract or



6. bank guarantees or other services provided by the Bank to the exporter

foreign person for the exporter against the risk of non-fulfilment of contractual obligations

the exporter of the contract of exportation, or



7. the risks of exchange rate losses of the Czech koruna against the foreign currencies arising in the case

the indemnification as a result of the exchange rate applied when taking out the difference

the insurance contract and the exchange rate applied in the payment of the indemnity



(b)) in the form of export financing



1. export credit financing and the provision of financial services

export related under the conditions of the beneficiary compared to market conditions,

particularly in terms of the maturity of the debtor's obligations or commitments

the exporter or producer and in terms of the level of interest rates (hereinafter referred to as

"preferential funding"), or



2. subsidise part of the interest-rate differences resulting from lower exporters

interest income provided export credit to

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

related to the financing of these loans (hereinafter referred to as the "payment of interest

differences ").".



3. § 2, including notes # 1a) is inserted:



"§ 2



Definition of terms



For the purposes of this Act, means the



and exporter of natural person) with permanent residency or a legal person

based on the territory of the Czech Republic, which is podnikatelem1) and takes place

exports,



(b)) by the manufacturer natural person resident or a legal person

based on the territory of the Czech Republic, which is podnikatelem1) and which produces

or providing services or who manufactures the goods or

provision of services intended for export,



(c) the manufacturer's Bank, Bank) that provides producers credit related to

the production of goods or the provision of services intended for export,



(d) the exporter's Bank, Bank) which provides exporters or foreign person

loan related to exports,



e) export credit funding granted to a natural person with

permanent residents or to a legal person located outside the territory of the United

Republic (hereinafter referred to as "foreign person") under contract or export

supplier credit,



(f) a contract for the export of the Treaty) between the exporter and the importer,



g) investment abroad of funds or other money

assessable value or property rights made by a legal person,

that is an entrepreneur "^ 1") with its registered office on the territory of the Czech Republic, for the purpose of

establishing or acquiring or extending their financial participation in business outside

the territory of the Czech Republic, for a period of at least three years,



(h) the risk of non-payment risk) the territorial claims of the 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,



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

a foreign person because of its insolvency or payment

ill-will,



j) the host State of the territory of a foreign State, to which it seeks investment

abroad, which is to be the subject of insurance, respectively, privileged

financing,



k) financial services related to export activities carried out

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

authorization by a special law, "^ 1a) that are related to the export,



l) financial resources financial resources acquired in particular sales

bonds, and on the basis of credit agreements,



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



n) capital markets and foreign markets with a maturity

provided by the financial resources of more than one year,



about) other operations related to the acquisition of financial operations

resources to secure the liquidity of banks, including hedge

operations,



p) securing the operations of the operation designed to limit foreign exchange and

interest rate risk,



r) inter-bank payments, transfer of funds between banks



export supplier loan with) the exporter provided by contract time

the distance between the obligation of the exporter and importer obligations to pay

exporters for its implementation,



t) market nezajistitelnými commercial risks commercial risks, which

the private market cannot be guaranteed commercial credit protection for

common conditions in international markets,



the sum of values insured exposures) insured loans from closed

in the face amount of insurance contracts, including interest and contractual fees

less the instalments paid on these loans properly and the values of the contracts for the promise

insurance in the amount of 50% of their nominal value,



in a positive rating of the acceptability of reach) of investment grade

for obtaining long-term financial resources,



x) specialized institutions of the foreign person who, in accordance with its

permission to review the credibility of the Bank and the Bank of the manufacturer, exporter



s) export delivery of goods or services under a contract of importers

export for use outside the territory of the Czech Republic,



from the importer of a foreign person) that imports from the United

of the Republic.



1A) Act No. 21/1992 Coll., on banks, as amended. ".



4. In the heading of section 3, the words "and the provision of privileged financing"

replaced by the words "the grant of preferential financing and reimbursement

interest-rate differences ".



5. § 3 (1). 1 reads as follows:



"(1) condition of insurance of export credit risks, the provision of

favourable financing and payment of interest differences is that the share of

the export value generated in the Czech Republic will make up at least 60%

the export value. The evidence of the proportion of export values down

The Ministry of finance legislation. The value of exports, the price is negotiated

between the exporter and the importer. ".



6. section 3 (2). 2 is added:



"(2) when insuring export credit risks pursuant to § 1 (b). a) and

advantageous financing pursuant to § 1 (b). (b) point 1 shall be assessed) point of view

export credit risk with respect to the ability to pay

foreign persons in the position of the debtor and the country from which the remuneration is to be

the claims made or to which it has directed investment abroad; u

loans to exporters, manufacturers, exporter or manufacturer's Bank to the Bank

shall be assessed the risk of return, in particular the aspect of the ability to pay

the Bank, the exporter, manufacturer and exporter of the ability of the Bank to meet the conditions

the export contract. ".



7. § 3 (1). 3 read as follows:



"(3) the provision of favourable financing and reimbursement of interest differences

are subject to insurance export credit risks insurable

Export guarantee and insurance company, a. s., (hereinafter referred to as the "export

insurance company ") pursuant to § 1 (b). a). The risks associated with the beneficiary

financing is not covered by export credit insurance

the risks under this Act, provides the exporter, the exporter, the manufacturer and the Bank

the manufacturer ensure the Bank directly export Bank, except as specified in section 8

paragraph. 5. ".



8. In the heading of section 4, the word "Insurance" is replaced by "insurance".



9. section 4, paragraph 4. 1 the first sentence reads as follows:



"The operation of insurance of export credit risks is authorised to export

the insurance company. ".



10. section 4, paragraph 4. 1 the second sentence including note No. ^ 2a) reads as follows:



"A condition for the operation of insurance of export credit risks is that

the sole shareholder of export insurance is a State that its shareholder

the rights exercised by Central Government authorities. ^ 2a)



2A) Act No. 2/1969 Coll., on establishment of ministries and other Central

Government of the Czech Republic, as amended. ".



11. in section 4, paragraph 4. 1, the second sentence shall be inserted the following sentence:




"Central State administration bodies exercising shareholder rights State

will be entrusted with the performance of the functions of the Board and the Supervisory Board of export

insurance companies of at least two thirds of the members of these bodies. ".



12. in section 4, paragraph 4. 2 the words "Czech Export Bank" shall be replaced by

"the export Bank". Dot at the end of the sentence is deleted and connect this

words:



"with the exception of the temporary acquisition of shares in the assets of the debtor in order to

ensure the vymáhatelnosti of the claims against the debtor. The temporary acquisition

the shares shall be subject to the consent of the Ministry of finance. ".



13. section 4, paragraph 4. 3 including note No. 5a):



"(3) ^ 5) Funds for insuring export credit risks are made up of

allocation of profit distribution, export insurance and subsidies from the State

the budget designated for the creation of these funds. Subsidies from the State budget

they are granted depending on the development of insurance commitment and

become a permanent part of these funds. The reserves are formed in

accordance with the specific legislation. ^ 5a) with these funds and reserves

they farm export insurance company separately from other reserves and funds.



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

income, as amended.



The Ministry of finance Decree No. 53/1994 Coll., which provides for the creation,

use of the location of the resources of the technical provisions of an insurance undertaking. ".



14. in section 4, paragraph 4 the following new paragraphs 5 to 7 shall be inserted:



"(5) the export insurance company may not take to the export credit insurance

risks in excess of its insurance capacity. Insurance capacity is

means the upper limit of the insurance commitment from closed contracts

and the promise of insurance contracts, which, for the period up to the end of the

the calendar year can export insurance company contractually bind. In the State

the budget for a given year shall be the amount of the premium export capacity

insurance companies and also the amount of the subsidy from the resources of the State budget for

supplement insurance funds. The method for calculating the capacity premiums down

The Ministry of finance law, taking as a basis of the summary

values of export credit risks contained in the applicable and the

insurance contracts and the promise of insurance contracts, the anticipated

supplement insurance funds from profit distribution, from a change in technical provisions

export insurance and to the allocation of applicable and insurance

contracts and contracts for the promise of insurance according to the degree of risk.



(6) the export insurance can insure the individual export credit risks

up to 20% of the capacity established for the year in which it is to this

the risk of an insurance coverage arranged. With the approval of the Minister of finance and the Minister of

industry and trade is entitled to insure the individual export insurance company

the export credit risk of up to 40% of insurance capacity. Individual

credit risks in excess of 40% of the premiums can export capacity

the insurance company to insure, with the consent of the Government.



(7) the Ministry of Finance shall lay down by law or regulation method of creating funds

referred to in paragraph 3, the ratio between the amount of reserves and the Fund referred to in

paragraph 3, and the volume of premiums written commitment and share of export insurance

insurance with the use of these reserves and funds. "



The present paragraph 5 shall become paragraph 8.



15. in section 4, paragraph 4. 8, the words "twice a year" shall be replaced by

"half a year". The letter a) is added:



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

Fortune, changes in the composition of the central authorities, which shall carry out

shareholder rights, changes in the composition of the Board and of the Supervisory Board, and

Furthermore, the balance of the insurance company, ".



16. in § 5 para. 2 (a). (c)) the words "the share of export value that you created in

The Czech Republic "shall be replaced by the words" the expected share of export value,

that will be created in the Czech Republic ".



17. in § 5 para. 3, the last sentence shall be deleted and paragraph 4,

which reads as follows:



"(4) for the insurance of export credit risks is not a legal claim.".



18. the heading of section 6 reads: "Preferential funding and payment of interest

the differences ".



19. section 6 (1). 1 the first sentence reads as follows:



"The provision of favourable financing is authorised to export Bank.".



20. In paragraph 6 (1). 1 the second sentence, the words "and shareholders representing State

are represented in the Board of Directors and the Supervisory Board at least

a two-thirds majority "in the second sentence are deleted and the following

the sentence:



"The State exercises its shareholder rights through the appropriate

Central Government authorities. ^ 2a) the central authorities of State administration

the executing State will be entrusted with the exercise of shareholder rights in the function

the Board of Directors and the Supervisory Board at least two-thirds of the export Bank

members of these bodies. ".



21. in section 6 (1). 1, point (b)) deleted.



Subparagraph (c)) shall become point (b)).



22. section 6 (1). 2 is added:



"(2) the Mission of the export Bank is the operation of the favourable financing and

the implementation of the related activities in accordance with a permit issued pursuant to

Special Act. ^ 10) export Bank operates a preferential financing

providing loans to the Bank, the exporter (hereinafter referred to as "refinancing loans"),

providing loans directly to exporters, manufacturers or foreign person (hereinafter

"direct loans"), providing loans to the Bank of the manufacturer and the provision of

export-related financial services, particularly in the form of loans

provided by the export Bank to finance the production for export, and

export financing and guarantees for liabilities of the Bank, the exporter, manufacturer, exporter

and the banks of the manufacturer. Export Bank operates a preferential financing for

conditions common in international markets for officially supported export

loans and financial services to export-related. Ways of operating

favourable financing Treasury Department legal

Regulation; When the issue of legal regulation of the Ministry of finance

the needs of efficient spending. Source for discounted

gets the export Bank financing in the financial markets. ".



23. in section 6 (1). 3 at the end of the sentence period deleted and connects this

text: ", with the exception of legal persons whose business is

provision and transfer of the interchange of payments and information transfer, and

shares in the persons who temporarily export Bank

gets and holds up to a maximum of one year from their acquisition in the context of

application of reinsurance in accordance with § 8 para. 5. To temporarily

acquisition of shares requires the consent of the Ministry of finance. "



24. In paragraph 6 shall be inserted after paragraph 3 a new paragraph 4 to 11 shall be added:



"(4) the payment of interest is provided to exporters by the Ministry of differences

finance through export Bank.



(5) the request for reimbursement of interest differences related to individual export

the exporter shall submit to the Ministry of finance through banks,

to further proceed in the manner prescribed pursuant to paragraph 9.



(6) in the request, the exporter is required to provide



and its identification data) 6)



(b) participation of foreign people) where applicable to its business,



(c) the subject of export and characteristics), its volume,



(d)) the share of export value created in the Czech Republic,



(e) the terms of payment and time) the layout of the repayment of the loan granted

the Bank, the exporter,



f) terms of payment specified in the contract of



g) information about the foreign person is an export supplier credit

provided, in particular identification data, 6)



(h) the amount of payment of interest) the differences



I) other information needed for the assessment of remuneration interest differences.



(7) The claims for reimbursement of interest differences presented by the exporter



and according to the insurance contract) § 5 para. 3,



(b) confirmation by the Bank) a loan to an individual export,



(c)) on the Declaration that the export was not provided to the beneficiary

the funding applied for him.



(8) the amount of the payment of interest differences does not exceed 50% of the exporters interest

the differences referred to in § 1 (b). (b)), point 2. In fixing the amount of the remuneration

the interest-rate difference exporters is based on the total amount of the payments of interest

the differences provided by exporters in the calendar year a

the budget and the share of participation of the State budget on the disbursement of interest

the differences. In the case of payment of interest differences exporters in one

calendar year, the remuneration will be at the same percentage to be provided

the entire duration of an export supplier loan.



(9) the terms and determine the amount of reimbursement of interest differences, as well as how

Export Bank in the provision of payments of interest differences provides

The Ministry of finance legislation.



(10) at the request of the Ministry of finance or the export Bank, the exporter is

required to substantiate the accuracy of the information provided in the request for reimbursement of interest

differences according to § 6 paragraph 1. 5.



(11) on the payment of interest differences is not a legal claim. ".



Paragraphs 4 through 10 shall be renumbered 12 to 18.



25. section 6 (1). 12 reads as follows:



"(12) the export Bank Losses that arise from the operation of the favourable

financing, are subsidized by the State budget. The losses are made up of

the differences between the posted interest cost of obtaining financial resources

for discounted financing and posted interest revenues associated with


by providing favourable financing and the temporary use of these

sources, the charges in writing agreed between creditor and export Bank

associated with obtaining the financial resources, the costs of production

provisions and adjustments based on a special law, ^ 5a) differences

between expenses and income from operations with financial derivatives, currency differences

courses and other costs that were demonstrably export Bank

incurred in obtaining financial resources. Request to subsidize the losses

Export Bank shall submit to the Ministry of finance. The details of determining

losses, the method of presentation of applications for subsidizing losses and how they

the endowment of the Ministry of Finance shall lay down by law or regulation. ".



26. in section 6 (1). 13 is deleted at the end of the sentence period and connect this

the words: "with the exception of deposits from manufacturers and exporters."



27. in section 6 (1). 14, after the words "Bank" the following note # 11)

added:



"11) section 24 of Act No. 6/1993 Coll. on Česká národní banka, as amended by

amended. ".



28. section 6 (1). 15:



(15) when the beneficiary bank according to the financing of export proceeds

General terms and conditions, which must at least include the adjustment of the

competence of the Bank, the exporter and manufacturer catering to the Bank's long-term

financial resources in international financial markets. Where

the provision of refinancing loans and the loans the Bank manufacturer, the General

terms and conditions also include the maximum amount of interest surcharges

banks, exporters and banks with interest costs, for which they have received

refinancing loans and loans from the banks. "



29. in section 6 (1). 16 is the numeral "7" is replaced by "15".



30. In paragraph 6 (1). 17, the words "twice a year" shall be replaced by

"half a year".



31. section 6 (1). 17 (a). a) is added:



"the export data bank), primarily on the amount of its share capital,

changes in the composition of the central authorities, which shall carry out the shareholder

rights, changes in the composition of the Board and of the Supervisory Board, and the balance of

Export Bank, ".



32. section 7 (1). 1 reads as follows:



"(1) a request for preferential export financing associated with the individual

the applicant shall present an export Bank. The applicant may be the exporter or Bank

the Bank, a foreign person, the manufacturer, the exporter or producer. The request for

preferential financing contains the elements referred to in § 5 para. 2

accompanied by identifying information about the Bank ^ 6) the exporter or producer, Bank

If they are not the applicant, which is to be provided to the beneficiary

financing. To inquire about discounted financing, the applicant shall submit

export insurance company application for insurance of export credit risks (§ 5

paragraph. 1) with the exception of cases, when the applicant for insurance of export

credit risk is the export Bank. ".



33. section 7 (1). 2 is added:



"(2) the exporter or producer to which the Bank should be granted

preferential financing, are required to provide details of the export Bank

your equity, balance and other data to assess their

the ability to secure rate of return provided by the beneficiary

funding. ".



34. In article 7 (2). 3, in the first sentence after the word "requests", the words "of the

preferential financing "and the words" with the applicant to conclude a contract of

the provision of credit, and if no export contract has not yet negotiated a contract

about the promise of loan ^ 8) "shall be replaced by the words" with the Bank, the exporter or Bank

the manufacturer, a foreign person, the manufacturer or exporter to conclude a contract of

the provision of credit or to provide other financial services related to the

export, and in the absence of the contract negotiated the treaty promise

loan or a treaty promise to grant financial services

export related. ^ 8). " The last sentence is deleted.



35. section 7, the following paragraph 4 is added:



"(4) The preferential financing is not a legal claim.".



36. section 8 including notes # 12a):



"section 8



(1) the State shall be liable for the obligations of



and export insurance companies from insurance) export credit risks pursuant to § 1

(a). and)



b) export Bank of the repayment of financial resources obtained export

for the obligations of the Bank and other banks in financial operations

markets.



(2) the relationships that are formed between the State and a foreign person, in whose

the benefit is a guarantee referred to in paragraph 1 (b). (b)) is provided, shall be governed by

the provisions of the Special Act. ^ 12a)



(3) if it is not contrary to the law of another State, the State is liable under paragraph 1

(a). b) unconditionally and irrevocably. The Ministry of finance is

authorised to commit the Government guarantee in writing.



(4) to obtain the financial resources of the export Bank in capital markets

requires the consent of the Ministry of finance, Ministry of finance

granted in the agreement with the Czech National Bank, unless a special law of ^ 13)

provides otherwise.



(5) to ensure the repayment of loans provided by the direct exporters and producers,

refinancing loans Bank loans the Bank of the exporter and of the manufacturer and the provision of

other ways of financing these persons agreed favourable export

Bank security. Export Bank has no obligation to negotiate to ensure

repayment of loans granted by the Bank refinancing and credit, exporter's Bank

the manufacturer and providing other ways favourable financing these

banks, if the Bank, the exporter or producer, the Bank meets the following

the criteria for the evaluation of its acceptability as a borrower:



and evaluation of the acceptability of) positive for the acquisition of long-term

financial resources from one of the specialized institutions whose

evaluation is recognized as critical to the financial markets,



(b) to acquire long-term) the eligibility of financial resources on the

international financial markets, according to the general terms and conditions

referred to in section 6 (1). 15.



(6) in the case of the performance of the State from the State guarantee provided is the responsibility of

export insurance and export Bank to pay the amounts owed to the State resulting from the

from this performance by subrogation of claims accepted in the context of

insurance of export credit risks or favourable financing

The Ministry of finance, and to the extent corresponding to the proportion of the State at the

payment obligations of the granted State guarantees export Bank

has negotiated security.



12A) section 11 of Act No 97/1963 on private international law and

procedural, as amended. ".



37. section 9, including the title shall be deleted.



Article II



The concepts of Czech Export Bank, joint stock company, Prague, and Export

guarantee and Insurance Corporation, joint stock company, Prague, used

in the existing legislation, the effective date of this Act,

means the Czech Export Bank, a. s., and export guarantee and insurance

the company, a. s.



Article. (III)



The President of the Chamber of Deputies shall be empowered, in the collection of laws promulgated

the full text of 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 is apparent from the

amended.



Article IV



This Act shall take effect on the date of publication.



Zeman in r.



Havel, v. r.



Tošovský in r.