Decree No. 140 / 2011 Coll.
Order on payment systems with settlement finality
Valid
Effective from 27.05.2011
140
DECLARATION
of 12 May 2011
on settlement finality payment systems
Pursuant to Article 142 of Act No. 284 / 2009 Coll., on Payment, as amended by Act No. 139 / 2011 Coll., ("the Act '), the Czech National Bank provides for the implementation of Sections 71 (3), 72 (4) and 73b (5) of the Act:
Subject matter
This decree provides
(a) a model of the application form for authorisation to operate a payment system with irrevocable settlement (hereinafter referred to as the payment system) and the content of its annexes;
(b) a template for the notification of changes to the information contained in the application for authorisation to operate the payment system and the content of its annexes; and
(c) the content, form, time and method of providing information by the operator of the payment system to the Czech National Bank.
Definition of terms
For the purposes of this decree:
(a) proof of integrity issued by a foreign State, a document similar to that in the Register of Penalties not earlier than 3 months issued by a foreign State;
1. where the natural person is a citizen and a foreign State in which the natural person has remained continuously for more than 6 months during the last 3 years;
2. in which the legal person has its registered office or has had its registered office in the last 3 years as well as the foreign State in which the legal person has, or has, an organisational component of the undertaking in the last 3 years, provided that the legal system of that State regulates the criminal liability of legal persons;
(b) a full extract from the register of entrepreneurs or other registers under another legislation (1), or from similar registers of foreign States, containing the information in force at the time of the application or notification, including information on the application for entry in the relevant register which was not carried out at the date of the application or notification, and a document authorising the performance of the activity, if issued under another legislation, or another similar document issued by the competent authority of a foreign State;
(c) financial statements
1. the annual reports and accounts for the last 3 financial years or for the period during which the person carries out the business if that period is less than 3 financial years; where a person is part of a consolidation unit, also consolidated annual reports and financial statements for the same period; (2) if the accounts are to be audited by an auditor, the accounts thus audited;
2. evidence of income for the last 3 years, assets and liabilities in the case of a natural person;
(d) an information system of a functional unit ensuring the acquisition, processing, transmission, sharing and storage of information in whatever form, including the relevant technical equipment;
(e) the business plan of the plan actually envisaged for the first 3 financial years of activity, based on real economic calculations in the scope of the financial statements data under another legislation3), together with a commentary on its individual items, which always contains the basic bases on which the business plan is based;
(f) by a decision on the bankruptcy of a bankruptcy decision under a bankruptcy law and its methods of resolution (4), or by a similar decision under another law or law of a foreign State;
(g) details of the person
1. in the case of a legal person, the commercial firm, or the name, registered office and identification number of the person, if any,
2. in the case of a natural person, the name, surname, birth number, date of birth, if no birth number has been assigned, address of residence in the form of a street, descriptive number, municipality, part of the municipality, postal code and state; a commercial firm, place of business and person identification number have also been assigned to an entrepreneur incorporated in the commercial register,
(h) data on professional experience
1. information on the type of professional experience;
2. an indication of the person with whom he or she has been practised;
3. an indication of the employment classification and a description of the activity carried out;
4. the definition of the duration of the activity referred to in point 3;
5. consent to the performance of a work assignment required by other legislation, where necessary;
(i) data on education
1. the name and type or type of educational institution, the study programme, the field of study, the duration of the study programme, the method and date of completion of the study, any academic degrees obtained; and
2. an overview of courses, traineeships and study stays of importance for the operation of the payment system and an indication of the year of their completion, focus, duration and, where appropriate, of the titles obtained.
Application for authorisation to operate a payment system
(C § 71 (3) of the Act)
(1) An application for authorisation to operate a payment system shall be made on a form the model of which is set out in Annex 1 to this Order. The application shall include the annexes referred to in paragraphs 2 to 6.
(2) The Annexes containing the basic information on the applicant are:
(a) the full text of the founding documents;
(b) proof of a business authorisation;
(c) financial statements; and
(d) a list of applications for annulment of decisions of the applicant's highest authority which, at the date on which the application was lodged, have not been definitively brought to an end, where such applications have been made and where such proposals could have a significant impact on the applicant's continued functioning.
(3) The Annexes containing information relating to the operation of the payment system are:
(a) a business plan;
(b) a strategy for developing the activity of the intended payment system, in particular in relation to the proposed business plan and the medium-term financial objectives;
(c) a description of the rules governing access to risks containing at least:
1. a proposal for an organisation with a definition of the scope and decision-making powers within which the functions whose performance is incompatible and procedures to avoid a potential conflict of interest shall be defined,
2. strategic and operational management principles;
3. the principles of the internal control system,
4. a description of the limitation of systemic risk;
5. a description of the liquidity risk limitation;
6. the expected number of employees to ensure the planned activities of the payment system and the procedures for the organisational security of each activity, including the identification of contact persons to receive notifications from the Czech National Bank pursuant to § 73f (4) of the Act,
7. design of technical security for individual activities, including an appropriate accounting system and statistical accounting systems, and security principles, including security principles for the information system;
(d) the rules of the payment system to the minimum extent provided for in Section 65 of the Law; and
(e) a list of participants in the payment system, containing details of the person referred to in Article 2 (g) (1), of each participant in the payment system.
(4) The Annexes containing information on the management of the paying system (5) and those proposed to the management of the payment system operator are:
(a) data on professional experience and training of each management person who actually manages the operation of the payment system;
(b) documents of integrity issued by the foreign State to each of the managers; and
(c) the questionnaire provided for in Annex 3 to this Order, completed for each person.
(5) The Annexes containing information on persons with qualified participation (6) on the applicant and on persons closely linked to the applicant are:
(a) a list of persons who have qualified participation in the applicant and persons who, acting in agreement with another person, have qualified participation in the applicant, including graphically illustrated relations between those persons, with details of those persons, indicating the amount of the participation in the applicant, or other forms of participation in the applicant, and, for persons acting in agreement, the fact on the basis of which the conduct takes place and the questionnaire provided for in Annex 4 to this Regulation, completed for each person included in that list;
(b) the list of persons who are a statutory authority or a member of a statutory authority, of each person referred to in point (a), and the questionnaire referred to in Annex 3 to this Decree, completed for each person included in that list;
(c) documents of integrity issued by the foreign State of each person referred to in (a) and each person who is a statutory authority or a member of the statutory authority of each person referred to in (a);
(d) proof of authorisation for the business of each person referred to in (a);
(e) the financial statements of each person referred to in (a);
(f) information on persons closely linked to the applicant; and
(g) the contract (7) on the basis of which the person referred to in point (a) becomes a person controlling, where such a contract is or has been concluded, or a proposal for such a contract.
(6) Where a person with a qualifying participation in an applicant as referred to in paragraph 5 (a) is a person who is an institution, financial institution or other person engaged in a financial market with its head office in a Member State and is subject to supervision by a competent authority in the State of its registered office, the applicant shall submit for that person:
(a) the Annex referred to in paragraph 5 (d) and, if that person becomes the person controlling the applicant on the basis of a control contract (7), the Annex referred to in paragraph 5 (g); and
(b) the original of the statement by the authority which oversees a person with a qualifying holding in the State of his registered office that he does not know that a person with a qualifying holding in the applicant is not credible.
(1) If the applicant is a person in accordance with Article 71 (2) of the Act for authorisation to operate the payment system, he shall submit an application by means of a form, a model of which is given in Annex 2 to this Order. The application shall include the annexes referred to in paragraph 2.
(2) The Annexes containing the basic information on the applicant are:
(a) proof of a business authorisation; and
(b) the rules of the payment system.
Notification of modification of data in the application for authorisation to operate the payment system
(Paragraph 72 (4) of the Law)
(1) The payment system operator shall submit a notification of the change to the information specified in the application for authorisation to operate the payment system or in its annexes on a form the model of which is set out in Annex 1 to this Regulation, if it is a person under Section 71 (1) of the Act, or Annex 2 to this Decree, if it is a person under Section 71 (2) of the Act.
(2) The notification referred to in paragraph 1 shall include the documents and information referred to in:
(a) in Article 3 (2) to (6), if there is a change in the information contained in the application and its annexes pursuant to Article 3;
(b) in Article 4 (2), if there is evidence of a change in the data contained in the application and its annexes pursuant to Article 4.
Providing information to the Czech National Bank
(K § 73b (5) of the Act)
(1) The payment system operator provides the Czech National Bank
(a) the balance sheet of the payment system operator;
(b) a statement of the profit and loss of the payment system operator; and
(c) information on compliance with the conditions under which authorisation to operate the payment system has been granted.
(2) The payment system operator shall provide the information referred to in paragraph 1 for the calendar year, no later than 31 January of the following year.
Common provisions
(1) Where a person is represented, the application or notification shall be accompanied by a power of attorney or other instrument proving the right to represent him. The authenticity of the signature of the principal shall be officially verified.
(2) The authenticity of the signature of applications, notifications and questionnaires should be officially verified.
(3) The documents referred to in Articles 3 (2) (a) and (b), 3 (4) (b) and 3 (5) (c) and (d) and 4 (2) shall be presented in the original or an officially certified copy.
(4) Where the nature of the case precludes the submission of an annex to the application required by this decree or the indication on the form and if the information or data from the application is not sufficiently obvious, the applicant shall indicate this in the application together with the reasons for which the annex cannot be presented or the indication and shall provide adequate evidence of that.
(5) The applicant or notifier may, instead of submitting the prescribed annex, refer to a well-identified document submitted to the Czech National Bank in the last 3 years which complies with the requirements laid down in this Decree.
(6) A foreign authentic instrument shall be accompanied by a higher verification of the documents (superlegalisation), unless the international treaty (8), which the Czech Republic is bound by, otherwise. This does not apply to a foreign authentic instrument issued by a public authority
(a) Member State (9); or
(b) a foreign State with which the Czech National Bank has a cooperation agreement; the list of these authorities shall be published by the Czech National Bank in a way that allows remote access.
Repeal
Decree No 32 / 2010 Coll., on payment systems with irrevocable settlement, is repealed.
Efficacy
This decree shall take effect on the day of its publication.
Governor:
Ing. Singer, Ph.D., v. r.
Příloha č. 1
Annex No. 1 to Decree No. 140 / 2011 Coll.
MODEL OF THE TISCOP
Application for authorisation to operate a payment system with irrevocable settlement (Section 71 (1) of the Payment Act)
Notification of a change to the data contained in the application for authorisation to operate a payment system with irrevocable settlement (Section 72 (4) of the Payment Act)
Příloha č. 2
Annex No 2 to Decree No. 140 / 2011 Coll.
MODEL OF THE TISCOP
Application for authorisation to operate a payment system with a settlement finality (Section 71 (2) of the Payment Act)
Notification of a change to the data contained in the application for authorisation to operate a payment system with irrevocable settlement (Section 72 (4) of the Payment Act)
Příloha č. 3
Annex No. 3 to Decree No. 140 / 2011 Coll.
MODEL
Questionnaire for assessment of the head of the payment system operator with irrevocability of settlement and other persons
Příloha č. 4
Annex No. 4 to Decree No. 140 / 2011 Coll.
MODEL
Questionnaire related to acquisition or increase of qualifying holdings
1) For example Act No. 513 / 1991 Coll., Commercial Code, as amended, Act No. 455 / 1991 Coll., on Business Business (Trade Act), as amended.
2) Act No. 563 / 1991 Coll., on Accounting, as amended.
3) Article 18 of the Accounting Act.
4) For example, Act No. 182 / 2006 Coll., on bankruptcy and methods of its resolution (insolvency law), as amended.
5) Paragraph 2 (2) (h) of the Payment Act.
6) Paragraph 2 (2) (f) of the Payment Act.
7) Article 190b of the Commercial Code.
8) For example, the Communication of the Ministry of Foreign Affairs No. 45 / 1999 Coll., on access to the Convention on the abolition of the requirement for the verification of foreign public documents.
9) Paragraph 2 (2) (a) of the Payment Act.
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Regulation Information
| Citation | Decree No. 140 / 2011 Coll., on payment systems with irrevocable settlement |
|---|---|
| Regulation Type | - |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 27.05.2011 |
|---|---|
| Effective from | 27.05.2011 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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