Decree No. 116 / 2015 Coll.
Decree amending Decree No. 278 / 1998 Coll., implementing Act No. 58 / 1995 Coll., on Insurance and Financing of Exports with State Support and supplementing Act No. 166 / 1993 Coll., on the Supreme Audit Office, as amended, as amended, Act No. 60 / 1998 Coll., as amended
Valid
Order
Effective from 01.06.2015
Text versions:
01.06.2015
18.05.2015
116
DECLARATION
of 6 May 2015
amending Decree No. 278 / 1998 of the Ministry of Finance Coll., implementing Act No. 58 / 1995 Coll., on Insurance and Financing of Exports with State Aid and supplementing Act No. 166 / 1993 Coll., on the Supreme Audit Office, as amended, as amended, as amended by Act No. 60 / 1998 Coll., as amended
The Ministry of Finance provides pursuant to Sections 4 and 6 of Act No. 58 / 1995 Coll., on Insurance and Financing of Exports with State Aid:
Decree No. 278 / 1998 Coll., implementing Act No. 58 / 1995 Coll., on Insurance and Financing of Exports with State Aid and supplementing Act No. 166 / 1993 Coll., on the Supreme Audit Office, as amended, as amended by Act No. 60 / 1998 Coll., as amended by Decree No. 88 / 2000 Coll., Decree No. 355 / 2001 Coll., Decree No. 29 / 2003 Coll., Decree No. 407 / 2006 Coll. and Decree No. 62 / 2010 Coll., is amended as follows:
1. In Article 2, the first sentence is replaced by the following: "The calculation of the required insurance capacity is carried out by the Export Guarantee and Insurance Company, a. s. (hereinafter referred to as the Export Insurance Corporation), as the sum of the total value of the export credit risks covered by the valid insurance contracts, reduced by the value of the expected repayment of the insured loans, the value of the export credit risks contained in the active reinsurance contracts, and the value of the export credit risks contained in the insurance commitments and the value of the processed insurance contracts, the conclusion of which can be reasonably expected in the year for which the State budget is drawn up. '
2. Paragraph 3 (3) and (4) read:
"(3) When processing the draft subsidy amount from State budget resources to supplement insurance funds, it shall be based on the status of funds for the insurance of export credit risks generated from the State budget in previous years, on the expected changes of those funds following the allocation of profits of the company, on the state of technical provisions, and on the estimate of expected cash flows from the accepted premiums, on changes in the state provisions, on premiums paid, on premiums paid and on recovered claims in the current financial year and on the year for which the State budget is drawn up.
(4) The release of approved subsidies from the State Budget shall take place according to the decision of the Ministry, at the request of the Export Insurance Corporation, in which the Export Insurance Corporation demonstrates the actual state of the insurance business, the state of the technical provisions and the state of the insurance funds, at the end of the preceding quarter, the assumption for the coming period of at least 90 days, taking into account the expected cash flows from the premiums received, the change in the state of the technical provisions, the premiums paid, the claims paid and the recovered claims. These assumptions are a qualified estimate of export insurance companies. '
3.
Method of submission of the application for loss subsidy and method of payment of subsidies
(K § 6 (4) of the Act)
(1) The request for a subsidy to cover losses resulting from the operation of the aided financing (hereinafter referred to as "loss grants") from the State budget is submitted when the State budget is drawn up for the relevant financial year. The application shall be accompanied by an overview of the status of the commitments resulting from contracts for the acquisition of long-term financial resources concluded at the date of the application, an overview of the estimated amount of long-term financial resources in the financial year paid up; and the expected need to obtain new financial resources in connection with their use on 31 December of the financial year.
(2) The grant to cover losses shall be granted during the year of the advance payment in quarterly instalments on the basis of the fact reported in the accounts at the end of each quarter. The advance calculation of the loss payment subsidy shall be submitted by the Export Bank to the Ministry by the 20th day of the month following the end of the quarter. Subsidies to cover losses for the relevant quarter shall be granted within the 30th day following the beginning of the examination of supporting documents to quantify the subsidy by the Ministry. The advance calculation of the loss payment subsidy for the fourth quarter shall be submitted by the Export Bank to the Ministry by 10 January of the following year at the latest, according to the preliminary facts reported. The Export Bank shall finance the grant of losses for the relevant year with the Ministry under the special legislation governing financial settlement with the State Budget.
(3) As part of the application referred to in paragraph 2, the Export Bank shall also submit information on the state guarantee status, information on the newly negotiated business cases for the relevant quarter, in particular the exporter's identification data, the credit contract number, the description of the project, the country of destination, the agreed amount of the contractual performance, the method and value of the collateral and the list of the export bank's claims from the supported financing on the last day of the preceding quarter, each with an indication of the value of the claim without adjustments and the value of the adjustment items, the manner and value of the security of the claim.
(4) Where the Ministry finds irregularities in the calculation of the subsidy, it shall inform the Export Bank thereof within three working days. The deadline for the payment of losses for the relevant quarter shall be suspended until the date of their removal by the exporting bank. '
Efficacy
This Decree shall take effect on 1 June 2015.
Minister:
Ing. Babiš v. r.
Sign in for notes, favorites and notifications
Regulation Information
| Citation | Decree No. 116 / 2015 Coll., amending Decree No. 278 / 1998 Coll., implementing Act No. 58 / 1995 Coll., on Insurance and Financing of Exports with State Aid and supplementing Act No. 166 / 1993 Coll., on the Supreme Audit Office, as amended, as amended by Act No. 60 / 1998 Coll., as amended |
|---|---|
| Regulation Type | Order |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 18.05.2015 |
|---|---|
| Effective from | 01.06.2015 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
Comments 0