Law Of 27 July 2002 Foreign Exchange Law

Original Language Title: USTAWA z dnia 27 lipca 2002 r. Prawo dewizowe

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Chapter 1 General provisions Article. 1. [range] the Act provides for the rotation of foreign currency from abroad, and rotation values of currency in the country, and economic activity in the field of buying and selling foreign exchange value and brokering in their buying and selling.

Article. 2. [Definitions] 1. Within the meaning of the Act: 1) residents are: a) natural persons domiciled in the country and legal persons established in the country, as well as other entities established in the country, having the ability to bind and the acquisition of rights on their own behalf; residents are also located in the country of affiliates, subsidiaries and companies created by non-residents, b) Polish diplomatic, consular and other Polish delegations and special missions, benefiting from immunities and privileges of diplomatic or consular, 2) non-residents are: a) natural persons domiciled abroad, and legal persons established abroad, as well as other entities established abroad having the ability to bind and the acquisition of rights on their own behalf; non-residents are also located overseas affiliates, subsidiaries and companies created by residents, b) foreign diplomatic, consular and other foreign representative offices and special missions and international organizations that use diplomatic or consular immunities and privileges, 3) non-residents from third countries are natural or legal persons and the other entities, having the ability to bind and the acquisition of rights on their own behalf , resident or established in third countries; non-residents from third countries are also located in these countries, affiliates, subsidiaries and companies created by residents or non-residents from other countries;

4) country is the territory of the Republic of Poland;

5) third countries are non-Member States of the European Union, as well as their dependent territories, autonomous and associated and dependent territories, autonomous and associated member States of the European Union;

6) national means of payment are the currency of the United Kingdom, and securities and other documents, acting as tender, issued in the currency of the Polish;

7) Polish currency are signs cash (notes and coins) in the country's legal tender, and withdrawn from circulation, but exchanged;

8) foreign values are foreign means of payment and Exchange gold and Platinum foreign exchange;

9) foreign means of payment are foreign currencies and foreign exchange;

10) foreign exchange are signs cash (notes and coins) which are outside the country of legal tender, and withdrawn from circulation, but exchanged; on an equal footing with foreign exchange treats a replaceable settlement monetary units used in international payments, in particular, the unit of account of the International Monetary Fund (SDR);

11) currencies are foreign currencies States conforming to the requirements of article 5. VIII of the Statute of the International Monetary Fund;

12) Foreign Exchange securities and other documents, acting as tender, issued in foreign currencies;

13) foreign exchange gold and Platinum restrictions is gold and Platinum in the nieprzerobionym State, and in the form of bars, coins minted after 1850, as well as semi-finished products, with the exception of use in dental technology; the foreign exchange gold and Platinum restrictions are also objects of gold and Platinum typically produced in those bullion;

14) securities are securities representing shares, in particular, shares and subscription rights of the new shares and debt securities, particularly bonds, issued or made out on the basis of the provisions of the country in which the issuer or the issuer has its registered office or where their issue or issue;

15) units in collective investment fund are acquired by the participants of the Fund titles to share in its assets, which in accordance with special provisions, or at the request of a participant of the Fund are repurchased or redeemed by the Fund from its assets, on certain conditions;

the foreign exchange trading foreign exchange turnover is 16) with foreign countries and the turnover of foreign values in the country;

17) foreign exchange trading with foreign countries is: a) the conclusion of the contract or other legal action, resulting or likely to result in making your reservation between resident and non-resident accounts or transfer between resident and non-resident ownership of foreign exchange values or national means of payment, as well as the execution of such agreements or activities, (b)) a contract or other legal action, causing or likely to cause the transfer between residents of the thing or right which the acquisition took place in the course of foreign exchange with foreign countries, as well as the execution of such contracts, (c)) the export, transfer and send abroad foreign exchange values or national means of payment, as well as making their importation, transfer and send from abroad to the country, 18) the turnover of the foreign values in the country is the conclusion of a contract or other legal act causing or likely to cause in the country between residents or between non-residents in foreign currencies or transfer in the country between residents or between non-residents property values Foreign Exchange, as well as the execution of such agreements or activities;

19) kantorową activity is regulated economic activity involving the buying and selling of foreign exchange values and mediation in their buying and selling;

19a) economic activity, in the case of the exercise of its: (a)) in the country-is an economic activity within the meaning of the provisions of the Act of 2 July 2004, the freedom of economic activity (Journal of laws of 2010, # 220, 1447, as amended), b) abroad-is an economic activity within the meaning of the rules of the Member State in which it is performed, 20) authorized bank is: a) the bank established in the country that in accordance with the specified in the statutes of the object of which is entitled to perform banking activities referred to in article 1. 5. 2 section 10 of the Act of 29 August 1997 – banking law (Journal of laws of 2002 No. 72, item 665., as amended), (b)) created in the country branch of a foreign bank, which, in accordance with the specified in the permit for his creation of the object of which is entitled to perform banking activities referred to in article 1. 5. 2 section 10 of the Act referred to in point (a). and, (c)) created in the country branch of a credit institution that is entitled to perform in the native State actions covered by the Act the Bank referred to in article 1. 5. 2 section 10 of the Act referred to in point (a). and 1a. Resident who is a natural person, the executing State abroad business shall be treated in a range of activities related to these activities as a non-resident. A non-resident who is a natural person, the executing State in the country's economic activity, treats a range of activities related to this activity as a resident.

2. Third countries belonging to the European economic area or the Organisation for economic cooperation and development are treated on an equal footing with the Member States of the European Union.

2A. the overseas territory, standalone or associated Member State of the European Union or a third country belonging to the European economic area or the Organisation for economic cooperation and development are treated on an equal footing with the State or with that country, if binding the Republic of Poland international agreements derives such treatment within the scope of the Act.

3. Whenever the law is equivalent to the amounts expressed in euro, it understood the equivalent in Polish currency, determined using the average exchange rate of the euro or the equivalent in another currency, determined using the average exchange rate of the euro and the average exchange rate of the currency as announced by the Polish National Bank on the day before an operation.

Article. 3. the [foreign currency Trading] 1. Making foreign exchange trading is permitted, subject to the limits: 1) referred to in article 1. 9, in terms of which have not been granted permits foreign exchange, referred to in article 1. 5;

2) made on the basis of article. 10.2. The restrictions referred to in article 1. 9 and made on the basis of article. 10 do not apply to foreign exchange trading, unless one of the parties is: 1) the State, in so far as it is represented by the Minister responsible for the budget, public accounts and financial institutions or the Minister responsible for the Treasury;

2) Polish National Bank;

3) public authority that has taken the actions in criminal proceedings, civil or administrative proceedings, including enforcement, or security.


3. the Limits referred to in article 1. 9 do not apply to foreign exchange trading carried out with the participation of banks and payment institutions, electronic money institutions, payment service agencies or other entities established in the country, to the extent of activities subject to authorities: the insurance, pensions, banking, payment institutions, electronic money institutions, payment service offices or on the capital market, carried out by those entities on their own account or the account of a third party entitled under the Act or the authorisation of foreign exchange trading to make foreign exchange trading which is subject to the restrictions.

4. freedom of foreign exchange trading with foreign countries resulting from the Act does not violate the restrictions in its making arising from other laws.

5. making foreign exchange trading is done taking into account the obligations set out in this Act, unless the regulations issued on its basis, foreign exchange permit or regulations relating to the bodies or entities referred to in paragraph 1. 2 and 3 does not separate obligations.

Article. 4. [the advertisement list of convertible currencies], the President of the Polish National Bank announce in the official journal of the Republic of Poland "Monitor Polish", by way of notice, a list of the currencies referred to in article 1. 2. 1 paragraph 11.



Chapter 2 reciprocal waiving of restrictions and obligations set out in the Act Article. 5. [a derogation from the restrictions] is permitted to assign from the restrictions referred to in article 1. 9 and the obligations referred to in article 1. 18. 25 paragraph 2. 1, based on a general or individual foreign exchange permit, to the extent and under the conditions set out in this permit.

Article. 6. [the conditions for granting residence permits of foreign exchange] 1. Foreign Exchange authorisations shall be granted if it does not endanger the public interest or the international obligations binding on the Republic of Poland.

2. (repealed).

3. foreign exchange authorization, granted for the conclusion of an agreement or settlement, can benefit all parties of this agreement or settlement.

4. Given the company authorised foreign exchange is not transferred to the acquiring company or the company newly knotted, the company, which has received the authorisation, was acquired by another company or with another company or companies zawiąże a new company.

Article. 7. [the authorisation of foreign exchange] the proper Minister of public financies shall, by regulation, foreign exchange general authorisations. Such authorisations may relate to all or specified by the category and all or by specific actions.

Article. 8. [Individual foreign exchange permit] 1. Individual foreign exchange permit is required to withdraw from the restriction or obligation, referred to in article 1. 5, for which a general authorization is not granted such an authorization has been granted, or foreign exchange trading, but other conditions than those in which it is to be waived.

2. Matters related to the granting of individual foreign exchange authorisations shall be decided by the President of the National Polish Bank by way of an administrative decision, taking into account paragraph 3. 4 and 5.

3. The decision of the President of the Polish National Bank issued in the cases referred to in paragraph 1. 2, shall apply mutatis mutandis to article. 127 § 3 of the law of 14 June 1960 – administrative procedure code (Journal of laws of 2000 No. 98, item 1071, as amended).

4. the President of the Polish National Bank may revoke the authorisation, if it is contrary to the specified in the permit conditions.

5. the President of the Polish National Bank may authorise to dealings referred to in paragraph 1. 2, only the directors of the Polish National Bank Headquarters departments and the directors of the Polish National Bank branches or equivalent units.



Chapter 3 restrictions in foreign exchange trading with foreign countries and the market values of currency in the country Article. 9. [the restrictions] Restrictions shall be subject to: 1) (repealed);

2) (repealed);

3) (repealed);

4) exports, sending and forwarding by residents of third countries national or foreign means of payment, for the purpose of taking or extension in these countries, economic activities, including the acquisition of immovable property for the purposes of this activity, with the exception of transfer to third countries national or foreign means of payment to cover the costs of the business of direct provision of services in the execution of the contract or the promotion and advertising business by a resident in the country;

5) disposal in the country by non-residents from third countries, as well as by international organizations, which do not, the Republic of Poland, both directly and through other entities: a) debt securities with maturity less than one year, except in country b) receivables and other rights whose exercise is followed by making a cash settlement, with the exception of purchased in the country or in the course of the residents within the scope that does not require authorisation of foreign exchange;

6) (repealed);

7) the acquisition by residents, both directly and through other entities: a) (repealed), b) shares and shares in companies established in third countries, as well as the placement of shares and shares in such companies, c) units in collective investment funds established in third countries, (d)) debt securities issued or issued by non-residents from third countries, e) foreign exchange value sold by non-residents from third countries in Exchange for other values of foreign exchange or national means of payment, f) receivables and other rights whose exercise is followed by making a cash settlement, sold by non-residents from third countries;

8) disposal by the residents, both directly and through other entities in third countries: (a)) debt securities with maturity less than one year, excluding acquired in those countries on the basis of a foreign exchange permit, b) receivables and other rights whose exercise is followed by making a cash settlement, excluding acquired in those countries on the basis of the authorisation of foreign exchange or traded with non-residents from third countries to the extent that does not require the authorisation of foreign exchange;

9) open by residents, both directly and through other entities, accounts in banks and branch offices of banks established in third countries, with the exception of their opening during the stay in these countries, as well as in connection with the activities referred to in section 4, subject to the nieutrzymywania such accounts for more than 2 months from the termination of residence or business;

10) (repealed);

11) (repealed);

12) (repealed);

13) (repealed);

14) by residents and non-residents from third countries the accounts cash in following the steps set out in paragraphs 5 and 7-9, with the exception of the steps, where making your reservation does not require prior approval of foreign exchange;

15) (repealed).

Article. 10. [Special Restrictions] 1. In terms of foreign exchange trading with foreign countries may be placed on specific restrictions, if they are necessary in order to: 1) implementation of the decisions of bodies of international organizations, which is a member of the Republic of Poland;

2) ensure public policy or public security;

3) balance balance of payments, if the overall its imbalances or sudden collapse or formed in this regard;

4) ensure the stability of the currency, in the event of sudden fluctuations in the exchange rate or formed in this area risks.

2. The Council of Ministers may, by regulation, restrict the purposes referred to in paragraph 1. 1 paragraphs 1 and 2.

3. the Council of Ministers, after consultation of the monetary policy Council, may, by regulation, restrict the purposes referred to in paragraph 1. 1 paragraph 3 and 4. Such restrictions may apply until overcoming difficulties with their balance of payments or the stability of the currency of the Polish or termination of the resultant risks in this regard, however, for no longer than 6 months from the date of their entry into force, subject to article 22. 62. Chapter 4 activities of the kantorowa Article. 11. [business kantorowej] 1. Kantorowa activity is an activity regulated under the provisions of the Act of 2 July 2004, the freedom of economic activity and requires an entry in the register of activities kantorowej, hereinafter referred to as "the register".

2. the provisions on the activities of the kantorowej does not apply to banks, branches of foreign banks and credit institutions and branches of credit institutions.

Article. 12. [Terms of business] work kantorową can perform a natural person who has not been legally convicted of tax offense or a crime committed in order to achieve financial gain or personal, as well as a legal person and the company without legal personality, which no member of the appropriate authorities or partner has not been convicted of such an offence.

Article. 13. [requirements established] 1. Activities directly related to the performance of kantorowej activities can be performed only by persons who have not been legally convicted for offences referred to in article 1. 12 and that have a professional prepare to perform these actions.


2. For professional preparation is considered to: 1) course covering legal and practical issues related to running a business kantorowej, documented testimony, or 2) working in the Bank, for a period of at least one year, in the position of directly associated with foreign exchange transactions, the documented testimony of the work, and knowledge of the provisions of the Act governing kantorową, confirmed a complex statement.

Article. 14. [obligations of persons engaged in kantorową] 1. An entrepreneur who operates kantorową, is obliged to provide: 1) keeping up to date, in a permanent and continuous and consistent with the provisions of, the records of all operations that cause a change of State of foreign exchange values and the Polish currency;

2) running between the activities of currency, continuous buying and selling foreign exchange values, traded;

3) issue, in a manner consistent with the regulations, evidence of the purchase and sale, registered or bearer, any agreement to buy or sell the value of foreign exchange, traded;

4) premises and equipment meeting the technical and organisational conditions necessary for the safe and proper actions directly related to kantorową.

2. The entrepreneur is obliged to obtain, at the end of each business year, certificate of no criminal record for offences referred to in article 1. 12.3. The provision of paragraph 1. 2 shall apply mutatis mutandis to the persons referred to in article 1. 13 paragraph 1. 1. Article. 15. [records of the foreign exchange values for sale] Sale of foreign exchange values, purchased within the framework of the activities of kantorowej, can be made when you enter these values in the records referred to in article 1. 14 paragraph 1. 1, paragraph 1, on the basis of an entry that specifies the date of transactions.

Article. 16. [keeping] 1. Authority of the leading registry is President of the National Bank Polish.

2. the register may be kept in the computer system.

3. the President of the Polish National Bank may specify, by way of interlocutory procedures, the conduct of the registry, the registry model and make entries in the register.

Article. 17. [application for entry in the register] 1. An entry in the register shall be made on the basis of a written request of the entrepreneur, that contains the following data: 1) company of the entrepreneur and his headquarters and address or residential address;

2) number in the register of entrepreneurs or business records;

3) taxpayer identification number (Tin);

4) headquarters and the addresses of the units in which activities will be executed kantorowa;

5) indication of the activities of the kantorowej carried out by the operator at the individual units;

6) the signature of the entrepreneur and an indication of the date and place of the application.

2. With the trader consists of written statement reads as follows: "I declare that: 1) the data contained in the application for entry in the registry is complete and accurate;

2) are known to me and fulfill specific conditions for the exercise of the activities of the kantorowej referred to in section 4 of the Act of 27 July 2002 foreign exchange law.

I declare that I have a current certificate of good conduct and evidence of qualifications required by law, referred to in paragraph 2. '.

3. The statement should also contain: 1) company of the entrepreneur and his headquarters and address or residential address;

2) the placemark and the date of the statement;

3) signature of a person authorized to represent the entrepreneur, indicating your name and job function.

4. The proper Minister of public financies after having consulted the President of the Polish National Bank, shall determine, by regulation, model application for entry in the register of activities kantorowej, having regard to the scope of performed by the entrepreneur activity.

Article. 17A. [data entry] 1. Entry in the register shall be subject to the data referred to in article 5(1). 17 paragraph 1. 1 paragraphs 1 to 5, with the exception of address, if different than the address of the registered office.

2. the entry in the register is also the deletion or change the entry.

Article. 17B. [request for deletion from the registry] entrepreneur is obliged to notify the authority in writing the register of kantorowej activities, and in the event of cessation of the exercise thereof, submit a request for deletion from the registry, within 7 days from the date of the activity kantorowej or stop its execution.

Article. 17 c. [Suspension of business kantorowej] 1. An entrepreneur may suspend, for a period of not longer than 2 years, the performance of the activities of the kantorowej. In the case of suspension of business kantorowej for a period of less than two years, the entrepreneur may extend this period to 2 years.

2. To suspend the execution of the activities of the kantorowej, to extend the suspension and resumption of its exercise of the entrepreneur is obliged to notify the authority in writing the register within 7 days from the date of suspension, the renewal of the suspension or resumption of business kantorowej.

3. the provisions of paragraphs 1 and 2. 1 and 2 shall apply mutatis mutandis to the suspension of the trader's kantorowej activities in individual units.

4. in the case has not been revalidated by the entrepreneur kantorowej activities or to the exercise thereof has not been revalidated in individual units, the register, after the expiry of a period of suspension, respectively, of its own motion: 1) plots, by decision, the trader's entry in the registry or 2) modifies an entry in field specify the units in which the activity is performed kantorowa.

Article. 17. [Delegation] the proper Minister of public financies after having consulted the President of the Polish National Bank, shall determine, by regulation, the equipment of the premises intended for kantorowej, as well as how to keep records and evidence of the purchase and sale of foreign exchange values, with a view to ensuring economic security in the exercise of this activity.

Article. 17E. [the application of the provisions of the administrative procedure code] in matters relating to the entry in the register, not covered in this chapter, the President of the Polish National Bank shall apply the provisions of the code of administrative procedure.

Article. 17F. [application of the freedom of economic activity law] in terms of unregulated by the Act to the activities of kantorowej shall apply mutatis mutandis the provisions of the Act of 2 July 2004, the freedom of economic activity.



Chapter 5 Responsibilities related to exports and imports to the country foreign exchange values or national means of payment Art. 18. [notification of imports of gold] residents and non-residents in excess of State border shall report, in writing, to the Customs authorities or the border guard authorities, imports into the country and exports abroad Foreign Exchange gold or Platinum exchange-rate, regardless of the number of, as well as national or foreign means of payment, if their value exceeds the total of the equivalent of 10 000 euros. Not an implementation of the notification in the notification of false data.

Article. 19. (repealed).

Article. 20. [Imports values of foreign exchange] 1. Residents and non-residents are required to submit to the Customs authorities or the border guard authorities, at their request, imported into the country or exported abroad foreign exchange values and national means of payment.

2. the Customs authorities and the authorities of the border guard may, in order to determine whether imports to the country foreign exchange values or national means of payment and their export abroad shall take place in accordance with the provisions of the Act, make checks on the principles and specific provisions on the control of customs or border control.

Article. 21. [confirmation of imports] the proper Minister of public financies, in consultation with the competent Minister of the Interior, shall determine by regulation: 1) way of making confirmation of imports into the country and the export abroad of foreign exchange values or national means of payment, 2) filing patterns of imports into the country and the export abroad of foreign exchange values or national means of payment with a view to ensuring information about exports and imports to the country foreign exchange values and national means of payment on the need for cooperation with the authorities of the financial information , specified in separate regulations.



Chapter 6 (repealed) Article. 22. (repealed).



Article. 23. (repealed).



Article. 24. (repealed).



Chapter 7 the obligation related to cash remittances abroad, and billing in the country in the course of foreign exchange Article. 25. [Obligations of residents and non-residents about remittances and settlements] 1. Residents and non-residents are required to make transfers of funds abroad and in the country related to the foreign exchange turnover through: 1) authorized banks or 2) payment institutions and electronic money institutions authorised to provide payment services, and, in the case of making settlements in the country also payment service offices – if the amount of the transfer or settlement exceeds the equivalent of 15,000 euros.


2. The obligation to make the accounts in accordance with paragraph 1. 1 does not apply to cases in which a party to the settlement is entitled, the national bank a payment institution, the payment institution of the EU, the national electronic money institution or a branch of the EU's electronic money institutions.

Article. 26. (repealed).

Article. 27. (repealed).

Article. 28. (repealed).

Article. 29. (repealed).



Chapter 8 obligations concerning the transfer of data and retention of documents related to foreign exchange turnover and activities of the kantorową Article. 30. [Data to make up the balance of payments] 1. Residents carrying out foreign exchange trading and entrepreneurs performing the activity of kantorową are required to pass the National Bank Polish data to the extent necessary for the compilation of balance of payments and the international investment position.

1a. the data referred to in paragraph 1. 1, are submitted in electronic form using the relevant certificates issued by the Polish National Bank or any other form of authentication used by the Polish National Bank, subject to the provisions of paragraph 2. 1B. 1b. Residents who are natural persons can transmit the data referred to in paragraph 1. 1, also in the form of a paper document according to a fixed formula.

1 c. transfer in a manner inconsistent with the requirements indicated in paragraph 1. 1a or 1b is equivalent to by lack of such data.

2. The provisions of paragraph 1. 1 does not apply to banks, branches of foreign banks and branches of credit institutions.

3. The proper Minister of public financies shall determine, by regulation, the manner, scope and timing of the execution of the obligation referred to in paragraph 1. 1, and the amount of the excess amounts that gives rise to this obligation, with a view to ensuring the necessary data for the balance of payments and the international investment position.

Article. 31. [confidentiality] [1] Polish National Bank is obliged to secrecy in respect of the individual data obtained from banks and residents, in the implementation of the obligations referred to in article 1. 30 paragraph. 1, on the principles set out in article 1. 23 paragraph 1. 5-7 of the Act of 29 August 1997 on the Polish National Bank (OJ of 2013.908 and 1036 and 2015. poz. 855).

Article. 32. [obligation to supply information by residents] Residents, at the request of an authorized bank, which has the task to pass, on the basis of separate regulations, to the extent necessary to draw up by the National Bank of Polish balance of payments and international investment position, are required to provide information about the bank allows made through the foreign exchange market, in particular concerning the destination of the funds which are the subject of such a market.

Article. 32A. [retention period of documents] Entrepreneurs performing the activity of kantorową and residents and non-residents carrying out foreign exchange operations, which are subject to restrictions or obligations laid down in this Act, shall, for the purposes of a tax audit and control exercised by the President of the Polish National Bank, store documents related to the activities or those activities for a period of 5 years from the end of the calendar year in which the performed activity kantorową or made the Act foreign exchange trading.



Chapter 9 control exercised by the President of the Polish National Bank Article. 33. [Control of the President of the NBP] 1. The President of the Polish National Bank performs control: 1) granted to individual foreign exchange licences;

2) kantorowej;

3) perform the obligation referred to in article 2. 30 paragraph. 1;

4) (repealed).

2. Control exercised in the field referred to in paragraph 1. 1 is to verify that: 1) use of the authorisation granted foreign exchange trading is carried out in accordance with its terms;

2) the trader operates kantorową in accordance with the conditions laid down in the Act and special regulations issued on the basis thereof;

3) the obligation referred to in article 2. 30 paragraph. 1, is executed by the residents and entrepreneurs performing the activity kantorową, and whether the data submitted in the implementation of this obligation are in accordance with the facts;

4) (repealed).

Article. 33A. [control kantorowej and the use of foreign exchange permits] to control the activities of the kantorowej trader, control exercise by the entrepreneurs of the obligation referred to in article 2. 30 paragraph. 1, and the control of use of the trader foreign exchange permit, shall apply the provisions of Chapter 5 of the Act of 2 July 2004, the freedom of economic activity.

Article. 34. [Auditors] 1. The control referred to in article 1. 33, shall carry out the Polish National Bank employees, hereinafter referred to as "controllers", at the headquarters of the controlled entity or at the headquarters of the Polish National Bank's headquarters or controlled, after presentation of a business card and the receipt of the authorization, subject to the provisions of paragraph 2. 2.2. Control or the individual checks can be carried out at the headquarters of the Polish National Bank with the consent of the controlled entrepreneur, if it can improve the running control.

Article. 35. [Powers controllers] 1. The head of the controlled entity is obliged to provide controllers with the necessary conditions to expedite control and access to all documentation related to the scope of control.

2. at the request of the representatives of the controller and the controlled units are required to provide oral and written explanations and make comparisons and calculations in the field of process control.

3. Inspectors shall, in connection with the carrying out of checks at the premises of the controlled entity, have the right to: 1) introduction to objects and spaces controlled units in the presence of its representative;

2) move in a controlled unit without the obligation to hold a pass.

4. Inspectors shall, in connection with the carrying out of control in controlled unit, may not be subject to revision.

Article. 36. [Control Protocol] the results of the inspection drawn up by him shows the controller: 1) Protocol, if the audit was carried out at the premises of the controlled entity, or 2) report, if the audit was carried out at the headquarters of the Polish National Bank.

Article. 36A. [Notification of irregularities of the Manager of the controlled entity] the Auditors shall inform the head of the controlled unit of material irregularities identified in the course of the checks, indicating the need for immediate action to remove them.

Article. 36B. [the founding Protocol and report] Protocol and the report referred to in article 1. 36, should: 1) contain a concise description of the results of checks;

2) indicate the legal provisions and the terms and conditions contained in the permit, the foreign exchange that have been infringed;

3) form the basis for the formulation of audit conclusions and recommendations.

Article. 36 c [the elements of the relevant Protocol and report] Protocol and shall in addition contain: 1) the name of the controlled entity in full and the address of its registered office;

2) the full name and position of the person giving the authorisation to carry out the inspection and the date of issue of the authorization;

3) name of the controller or controllers;

4) define the scope of the control;

5) the term of the period covered by the control, and a start and end date controls;

6) list of people provide explanations during the inspection;

7) specifying documents, based on which the check is carried out;

8) list of annexes which form part of the report or of the Protocol;

9) the endorsement of the head of the controlled entity one protocol or report;

10) the letter of the law and submission by mode controlled unit of objections to the findings contained in the Protocol or report;

11) first and last names of the members of the management body of the controlled entity in the case of legal persons.

Article. 37. [the signing Protocol] 1. The Protocol referred to in article 2. 36, paragraph 1, shall be drawn up in two copies, one of which is passed the controlled entity.

2. Control Protocol signed by the controller and the representative of the controlled entity.

3. refusal to sign the Protocol by a representative of the controlled entities do not constitute an obstacle to the transfer of its signed by the controller Protocol.

4. the representative of the controlled entities may, within 14 days of receipt of the Protocol, to report in writing reasoned objections to its findings.

5. in the event of failure to the reservations referred to in paragraph 1. 4, in whole or in part, the controller shall communicate their views in writing of the controlled unit.

Article. 38. [report] 1. The report referred to in article 1. 36 paragraph 2, shall be drawn up in two copies, one of which is passed the controlled entity.

2. The inspection report shall be signed by the controller.

3. In the field of reservations by the controlled entity to the findings of the report and to deal with these objections by controlling the provisions of art. 37 paragraph 2. 4 and 5.

Article. 39. (repealed).

Article. 40. [recommendations follow-up] 1. If as a result of audit irregularities, President of the Polish National Bank transfers of controlled recommendations follow-up unit.

2. Recommendations follow-up should include: 1) a brief description of the results of the checks, indicating the laws that have been violated;


2) conclusions from the findings of the inspections, to remove deficiencies;

3) the obligation of the controlled entity to notify the manner and period of implementation of the recommendations of the audit.

Article. 40A. (repealed).

Article. 40B. [information on the action taken to implementation of the recommendations of the audit] head of the controlled entity is obliged, within 30 days from the date of receipt of the recommendations of the audit, inform in writing the OU Polish National Bank, exercising control of the action taken to implement the recommendations of the audit.

Article. 40 c [Blatant infringement, foreign exchange permit or conditions for the implementation of the activities of the kantorowej] if it is determined in the course of control of gross violations: 1) the law or the conditions of the authorisation of foreign exchange, the Auditors are present to the President of the Polish National Bank or the Director of the Polish National Bank organizational unit, which has authorised foreign exchange, its repeal;

2) conditions for the implementation of the activities of the kantorowej controllers are to the President of the Polish National Bank for a decision on the prohibition of its execution.

Article. 41. [Suspected of committing offences] in the case of control of reasonable suspicion of committing offences or offences by a controlled entity or other entity, the President of the Polish National Bank shall inform the competent authority in accordance with the regulations in force.

Article. 42. (repealed).



Chapter 10 changes to the existing Article. 43. (omitted).

Article. 44. (omitted).

Article. 45. (omitted).

Article. 46. (omitted).

Article. 47. (omitted).

Article. 48. (omitted).

Article. 49. (omitted).

Article. 50. (omitted).

Article. 51. (omitted).

Article. 52. (omitted).

Article. 53. (omitted).

Article. 54. (omitted).



Chapter 11 transitional and final provisions Article. 55. [the proceedings in the matters of foreign exchange] 1. Foreign exchange procedure initiated and not completed before the date of entry into force of this Act takes place according to its provisions.

2. foreign exchange authorization shall remain in force granted under the previous Act, to the extent that is required under this Act.

Article. 56. (omitted).

Article. 57. [powers of banks] 1. Banks and branches of foreign banks be entitled, under the provisions of the existing, to the Agency in adopting and making payments and make the transfer of national and international means of payment in the foreign exchange market to become banks eligible to perform banking activities in making mediation by residents of remittances abroad and in the country with non-residents, subject to paragraph 2. 3 and 4.

2. Banks and branches of foreign banks be entitled, under the provisions of the existing, to buy and sell foreign exchange values become banks eligible to perform banking activities in this area, subject to paragraph 2. 3 and 4.

3. the Banks referred to in paragraph 1. 1 and 2, shall, within 12 months from the date of entry into force of this Act, extend the specified in the statutes of the action item about bank operations referred to in article 1. 5. 2 paragraphs 7 and 10 of the Act of 29 August 1997-right bank, under pain of losing existing powers in this field.

4. Branches of foreign banks, referred to in paragraph 1. 1 and 2, shall, within 12 months from the date of entry into force of this Act, apply for the extension specified in the permit for their creation of the action item about bank operations referred to in article 1. 5. 2 paragraphs 7 and 10 of the Act referred to in paragraph 1. 3, under pain of losing existing powers in this field.

Article. 58. [Business kantorowa] 1. Eligible parties, based on existing legislation, to conduct business, such activities lead kantorowej in the current scope, under the conditions laid down in this Act and the regulations issued on its basis.

2. As of 30 June 2004 shall be extinguished by the President of the Polish National Bank issued other than banks to legal persons and entities that are not legal persons authorised to buy and sell foreign currencies and foreign exchange.

3. Entities carrying out activities referred to in paragraph 1. 2 May to the date specified in that provision to transform such an activity in the kantorową by obtaining authorisation for its conduct.

Article. 59. [domestic and Foreign Persons] Whenever in the rules is talking about: 1) national foreign exchange law persons or foreign exchange law, must be understood residents referred to in article 1. 2. 1 paragraph 1;

2 foreign foreign exchange law persons) or the foreign exchange law, must be understood by non-residents, referred to in article 1. 2. 1 point 2.

Article. 60. [Provisions explaining] Whenever in the rules of the law of 2 December 1994, the foreign exchange law (Journal of laws No. 136, item 703, 1995, no. 132, item 641, 1996, no. 106, item 496; and 1997 # 71, poz. 449), or the Act of 18 December 1998, the foreign exchange law (Journal of laws No. 160 , item. 1063, 1999, no. 83, item. 931, 2000, no. 103, item. 1099 and of 2002 # 74, item. 676), understood this law.

Article. 61. [the provisions repealed] is repealed the Act of 18 December 1998, the foreign exchange law (Journal of laws No. 160, item 1063, 1999, no. 83, item 931, 2000, no. 103, item 1099 and of 2002 # 74, item 676).

Article. 62. [the provisions repealed] on the day of the Republic of Poland, membership of the European Union loses the power of art. 10:1) (2). 2 – in so far as it concerns article. 10 paragraph 1. 1 point 2;

2) (2). 3 – in so far as it concerns article. 10 paragraph 1. 1 paragraph 4.

Article. 63. [entry into force] this Act shall enter into force on 1 October 2002.

[1] Article. the following 31, set by the article. 3 of the Act of April 9, 2015, amending the law on public statistics and certain other laws (OJ poz. 855). The change came into force on July 23, 2015.

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