Act No. 105 / 1995 Coll.
Act amending and supplementing Act No. 229 / 1992 Coll., on Commodity Exchange, as amended by Act No. 216 / 1994 Coll.
Valid
Law
Effective from 01.07.1995
Text versions:
01.07.1995
30.06.1995
105
THE LAW
of 24 May 1995
amending and supplementing Act No. 229 / 1992 Coll., on Commodity Exchange, as amended by Act No. 216 / 1994 Coll.
Parliament has decided on this law of the Czech Republic:
Act No. 229 / 1992 Coll., on Commodity Exchange, as amended by Act No. 216 / 1994 Coll., is amended as follows:
(1) Paragraph 1 (4), including footnote 1a, reads as follows:
"(4) Persons other than exchanges established under this Act may, in their trade name, name, designation of services provided or in any context of their activities, use the designation" stock exchange ', "stock exchange' or other indications derived from or interchangeable with those words only if this or the special law so provides. 1) This is without prejudice to the protection and use of the name of the natural person. (1a)
(1a) Paragraph 11 of the Civil Code. Act No. 55 / 1950 Coll., on the Use and Change of Name and Surname, as amended. '
2. the following paragraph 5 is added to Article 1:
"(5) The designation" stock exchange "may be used
(a) in relation to the activities of persons authorised to brokering stock exchanges (hereinafter referred to as "the negotiators"),
(b) identifying goods and services intended solely for technical support of or directly related to the activities of the stock exchanges and identifying information, reports and publications on the activities of the stock exchanges. ';
3. Article 4 (1) (f) reads as follows:
"(f) a more detailed procedure for the appointment and withdrawal of exchange arrangements, the manner in which they are remunerated, the conditions under which private arrangements may operate on the exchange and the conditions under which the arrangements are authorised to enter into exchange transactions on their behalf;"
4. In Paragraph 6 (1), the words "the Czech Republic or the Slovak Republic (hereinafter referred to as the competent authority of the state administration) 'are deleted. At the end of the paragraph, the following note No 3a is added:
"3a) § 13 (2) and § 15 (2) of the ČNR Act No. 2 / 1969 Coll., on the establishment of ministries and other central bodies of the Czech Government, as amended."
5. the following paragraph 3 is added to Article 6:
"(3) The competent authority may decide in the authorisation to operate the stock exchange that the Statute contains an arrangement derogating from Articles 20 (1), 21 (1) (b), 23 (1) and 27 (3) to (5) of the Act, where otherwise the possibility of involving the stock exchange in the international organisation of the trade in commodities for which the stock exchange is established would be prevented or significantly impeded; However, such an adjustment may not be authorised if this would restrict the exercise of state supervision over the stock exchange and the activities of the negotiators. The founders shall indicate the proposal for such derogation in the application for authorisation and shall provide evidence of the circumstances relevant for its assessment when it is submitted. There is no legal claim for authorisation under this provision. The authorisation may be withdrawn by the competent authority of the State administration if the exchange does not become a member of that international stock exchange organisation within the time limit laid down by it when the authorisation is issued. ';
6. In Article 11 (2), the words "Czech and Slovak Federal Republic," and the words "and Slovak Republic," are deleted.
7. In Paragraph 23 (3), the second sentence is deleted.
8. In Paragraph 29 (2), the words "Czech and Slovak Federal Republic 'are replaced by the words" Czech Republic'.
9. Article 29 (3) reads as follows:
"(3) Exchange negotiators may engage in other gainful activities relating to trade, production, processing or use of commodities which are the subject of exchange trades only if the competent authority of the public administration and the exchange chamber so agree with the pursuit of other gainful activities of the stock exchange negotiators, and provided that this is permitted by the Statute."
10. In Paragraph 29, the following paragraphs 4, 5 and 6 are inserted after paragraph 3:
"(4) The Exchange Chamber or the competent authority of the State administration may withdraw the consent granted to pursue other gainful activities of the Exchange Agreements in writing. The reason for the withdrawal of the consent shall be indicated in the decision to withdraw the consent. The exchange agreement is then obliged to terminate the business in a manner resulting from the relevant legislation without undue delay.
(5) The Statute shall lay down the manner in which the name of the list of exchange negotiators who are also engaged in other gainful activities and the scope of the information relating to such gainful activities must include at least a full list of those activities and the status of the gainful activity.
(6) An exchange agreement which carries out other gainful activities as referred to in paragraph 3 may not be a member of the Exchange Chamber and Exchange Committees or an arbitrator or other official of the Exchange Arbitration Court. "
Paragraphs 4 and 5 shall be renumbered paragraphs 7 and 8.
11. In Paragraph 29 of the new paragraph 8, "paragraph 4 (a) 'is replaced by" paragraph 7 (a)'.
12. In § 33 (2), the words "Czech National Council and Slovak National Council9)" are deleted, including footnote.
13. In Paragraph 34, the following paragraph 4 is inserted after paragraph 3:
"(4) The Trade Commissioner shall withdraw his consent to pursue other gainful activities of the Exchange Agreement which has infringed the provisions of Paragraph 25 (3). The right to impose penalties for such negotiations shall not be limited by the withdrawal of consent. '.
Paragraph 4 shall become paragraph 5.
14. in Article 36 (1) (a), the following shall be inserted after "Article 29 (3)": "4 and 5."
15. In Paragraph 36, the following paragraphs 3 and 4 are inserted after paragraph 2:
"(3) Where the competent authority finds that a person who has not been authorised uses the designation referred to in the first sentence of Paragraph 1 (4) other than those referred to in Article 1 (5), it shall invite him to remedy the deficiencies identified within the time limit set.
(4) The competent authority of the state administration may impose a fine of up to CZK 500 000 on persons who, after the time limit laid down in the notice referred to in the previous paragraph has expired. Persons who, within three years of the final decision to impose a fine, breach the provisions of Paragraph 1 (4) again may be fined up to CZK 2 000 000 by the competent authority of the state. "
Paragraphs 3, 4, 5, 6 and 7 shall be renumbered paragraphs 5, 6, 7, 8 and 9.
16. In Paragraph 36 of the new paragraph 5, the following sentence is added at the end: "The fine referred to in paragraph 4 may be imposed within six months of the date on which the competent authority of the administration became aware of the unauthorised use of the designation referred to in paragraph 1 (4), but not later than one year after the date on which such action took place. '
17. Paragraph 36 of the new paragraph 6 reads as follows:
"(6) The fine imposed pursuant to paragraphs 2 and 4 shall be payable within 30 days of the date on which the decision to impose it became final. A copy of the decision with the enforcement clause shall be sent by the competent authority of the State to the competent financial authority. '.
18. In Paragraph 36 of the new paragraph 8, the words "or the State Budget of the Slovak Republic according to the place of the stock exchange 'are deleted.
Legal and natural persons who have not been granted an authorisation and who, at the date of entry into force of this Act, use the indications referred to in Article 1 (4) other than those provided for in Article 1 (5) shall, within three months of the date of entry into force of this Act, remove and cease to use them.
This Act shall take effect on 1 July 1995.
Uhde v. r.
Havel v. r.
Klaus v. r.
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Regulation Information
| Citation | Act No. 105 / 1995 Coll., amending and supplementing Act No. 229 / 1992 Coll., on Commodity Exchange, as amended by Act No. 216 / 1994 Coll. |
|---|---|
| Regulation Type | Law |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 30.06.1995 |
|---|---|
| Effective from | 01.07.1995 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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