Act No. 127 / 2002 Coll.
Act amending Act No. 6 / 1993 Coll., on the Czech National Bank, as amended, Act No. 442 / 2000 Coll., amending Act No. 6 / 1993 Coll., on the Czech National Bank, as amended, and Act No. 166 / 1993 Coll., on the Supreme Audit Office, as amended, and Act No. 166 / 1993 Coll., as amended
Valid
Law
Effective from 01.05.2002
127
THE LAW
of 13 March 2002
amending Act No. 6 / 1993 Coll., on the Czech National Bank, as amended, Act No. 442 / 2000 Coll., amending Act No. 6 / 1993 Coll., on the Czech National Bank, as amended, and Act No. 166 / 1993 Coll., on the Supreme Audit Office, as amended, and Act No. 166 / 1993 Coll., on the Supreme Audit Office, as amended
Parliament has decided on this law of the Czech Republic:
Amendment of the Act on the Czech National Bank
Act No. 6 / 1993 Coll., on the Czech National Bank, as amended by Act No. 60 / 1993 Coll., Act No. 15 / 1998 Coll., Act No. 442 / 2000 Coll., the Constitutional Court found published under No. 278 / 2001 Coll. and Act No. 482 / 2001 Coll., is amended as follows:
1. In Paragraph 2, the following sentence is added at the beginning of paragraph 1: "The main objective of the Czech National Bank's activities is to care for price stability."
2. In Article 5 (2), the dot at the end of point (f) is replaced by a comma and the following point (g) is added:
"(g) determine the salary and other benefits of the Governor; the remuneration and other benefits of the Vice-Governors and other members of the Bank Board shall be determined by the Governor. ';
3. In Article 6, the following is added at the end of paragraph 6: "Except for the activities of scientific, literary, publicist, artistic and pedagogical and for the management of own property '.
4. In Article 6, the following sentence is added at the end of paragraph 6: "Membership of the Banking Board is further incompatible with any activity which may cause a conflict of interest between the conduct of this activity and that of the Banking Board. '.
5. In Article 6 (7) (c), the words "and meets the conditions laid down in a specific legislation 'are deleted.
6. Paragraph 6 (10) is deleted.
Paragraphs 11 to 13 shall be renumbered paragraphs 10 to 12.
7. In Article 6, the following paragraph 13 is added:
"(13) The Governor shall be dismissed if he no longer fulfils the conditions required for the performance of his duties or if he is guilty of serious misconduct. The President of the Republic may also dismiss the Governor if he does not perform his duties for more than 6 months. The requested Governor or the Governing Council of the European Central Bank may request the review of the decision to remove the Governor from office with the European Court of Justice if they consider that this decision has infringed the Treaty establishing the European Community or any other legislation adopted to implement it. '.
8.
(1) The Czech National Bank and the Banking Board may not take or require instructions from the President of the Republic, Parliament, government, administrative offices or any other body in the pursuit of the main objective of the Czech National Bank and other activities.
(2) The Czech National Bank and the Government inform each other of the monetary and economic policy principles and measures. "
9. In Section 24, the words "and branches of foreign banks' shall be added at the end of point (a).
(10) Paragraph 31 (2), including footnote 3a, reads:
"(2) The Czech National Bank shall keep records of securities issued by the Czech Republic and payable within one year, of securities issued by the Czech National Bank (§ 33) and of bonds with a maturity of up to one year. 3a)
3a) Paragraph 98 (2) of Act No. 591 / 1992 Coll., on Securities, as amended. '
11. in Article 35, the following point (a) is added:
"(a) establish, after consultation with the government, a regime for the exchange rate of the Czech currency to foreign currencies, but the main objective of the Czech National Bank must not be compromised."
12. In Paragraph 38, the following sentences are added at the end of paragraph 1, including footnote 6 (a): "Participants to these schemes may be in addition to banks and branches of foreign banks as well as legal persons who carry out transactions in investment instruments on the basis of an authorisation from the Commission for securities settlement. 6a) The account of a similar interbank payment account under a special law will be held in the system by those persons, 4) if the Czech National Bank has concluded a contract with those persons to hold a payment account and to transfer data to interbank payment transactions.
6a) Act No. 591 / 1992 Coll., on securities, as amended. '
13. In Paragraph 38, the following paragraph 2 is inserted after paragraph 1:
"(2) The contract referred to in paragraph 1 shall always contain:
(a) the place, manner and time of transmission of payment data;
(b) the formalities, format and structure of payment dates and the manner in which they are secured against abuse;
(c) the responsibility of the Contracting Parties;
(d) the conditions for remuneration of the payment account; and
(e) the fixing of prices for interbank payments. "
Paragraph 2 shall become paragraph 3.
14. in Article 41 (2) (b), the word "or" shall be replaced by the words "or persons included in the consolidation unit for whom banking supervision is exercised or persons;"
15. In the second sentence of Paragraph 41 (4), the words "against other persons under Paragraph 46" shall be deleted.
16. In Paragraph 41, the following sentence is added at the end of paragraph 4: "The Czech National Bank shall proceed to other persons in accordance with Paragraph 46."
17. Footnote 5) to Paragraph 44 reads:
"5) Foreign exchange law. Act No. 455 / 1991 Coll., on Business Business (Trade Act), as amended. '
18.Paragraph 47 (1) reads as follows:
"(1) The Czech National Bank manages according to the budget, which must be broken down so as to make it clear that the acquisition of assets and the operation of the Czech National Bank."
19. In Paragraph 47, paragraphs 5 to 8 are renumbered paragraphs 2 to 5 and the following sentence is added in the newly marked paragraph 3: "This report also includes information on the salaries of members of the Banking Board of the Czech National Bank."
20. Article 49a, including footnotes 24) and 25) shall be deleted;
21. The following Section 49b is inserted after § 49a:
(1) The Czech National Bank issues a measure of the Czech National Bank (hereinafter referred to as the "measure"), if it is legally empowered to do so. These measures are binding on banks and branches of foreign banks.
(2) The measure is signed by the Governor of the Czech National Bank.
(3) The measure takes effect on the day of its publication in the Bulletin of the Czech National Bank ("Bulletin").
(4) The measure shall take effect on the date specified therein. However, the measure shall first take effect on the date of its publication in the Bulletin, which shall be the date of issue of the corresponding amount of the Bulletin.
(5) The measures are indicated in the Bulletin by order numbers, the series of which is closed at the end of each calendar year.
(6) The Bulletin is issued in sequentially numbered amounts, marked with serial numbers, the series of which is closed at the end of each calendar year. '
Empowerment
The Prime Minister is hereby authorised to declare in the Collection of Laws the full text of Act No. 6 / 1993 Coll., on the Czech National Bank, as is apparent from later Laws and from the Constitutional Court's findings.
Amendment to the Supreme Audit Office Act
In Act No. 166 / 1993 Coll., on the Supreme Audit Office, as amended by Act No. 331 / 1993 Coll., Act No. 117 / 1994 Coll., Act No. 224 / 1994 Coll., Act No. 58 / 1995 Coll., Act No. 263 / 1995 Coll., the finding of the Constitutional Court published under Act No. 296 / 1995 Coll., Act No. 148 / 1998 Coll., Act No. 132 / 2000 Coll., Act No. 220 / 2000 Coll., Act No. 442 / 2000 Coll. and Act No. 239 / 2001 Coll., Section 3, paragraph 3 reads:
"(3) The Office exercises control over the management of the Czech National Bank in the area of expenditure on acquisition of assets and expenditure on operation of the Czech National Bank."
EFFECTIVE
This Act takes effect on 1 May 2002, with the exception of the provisions of § 6 paragraph 13 of Act No. 6 / 1993 Coll., on the Czech National Bank, as amended by this Act, which takes effect on the date of the entry into force of the Treaty of Accession of the Czech Republic to the European Union.
Klaus v. r.
Havel v. r.
v Rychetský v. r.
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Regulation Information
| Citation | Act No. 127 / 2002 Coll., amending Act No. 6 / 1993 Coll., on the Czech National Bank, as amended, Act No. 442 / 2000 Coll., amending Act No. 6 / 1993 Coll., on the Czech National Bank, as amended, and Act No. 166 / 1993 Coll., on the Supreme Audit Office, as amended, and Act No. 166 / 1993 Coll., on the Supreme Audit Office, as amended |
|---|---|
| Regulation Type | Law |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 12.04.2002 |
|---|---|
| Effective from | 01.05.2002 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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