What is Act No 148 / 2016 Coll.?

Act No. 148 / 2016 Coll., amending Act No. 256 / 2004 Coll., on Capital Market Business, as amended, and other related laws — Act amending Act No. 256 / 2004 Coll., on Capital Market Business, as amended, and other related laws.

When it became Act No 148 / 2016 Coll. effectiveness?

Act No 148 / 2016 Coll. became effective 01.06.2016.

Is Act No 148 / 2016 Coll. still valid?

Yes, Act No 148 / 2016 Coll. is still valid and effective.

How many times was it Act No 148 / 2016 Coll. amended?

Act No 148 / 2016 Coll. has 3 time versions of the text.

Act No 148 / 2016 Coll. - Act amending Act No. 256 / 2004 Coll., o...

148

THE LAW

of 20 April 2016

amending Act No. 256 / 2004 Coll., on Capital Market Business, as amended, and other related laws

Parliament has decided on this law of the Czech Republic:

ČÁST PRVNÍ

Amendment to the Capital Market Enterprise Act

Čl. I

Act No. 635 / 2004 Coll., Act No. 377 / 2005 Coll., Act No. 56 / 2006 Coll., Act No. 160 / 2010 Coll., Act No. 62 / 2006 Coll., Act No. 70 / 2006 Coll., Act No. 126 / 2008 Coll., Act No. 216 / 2008 Coll., Act No. 230 / 2008 Coll., Act No. 7 / 2009 Coll., Act No. 223 / 2009 Coll.

1. footnote 1 shall read:

"(1) Directive 97 / 9 / EC of the European Parliament and of the Council of 3 March 1997 on investor compensation schemes. Directive 98 / 26 / EC of the European Parliament and of the Council of 19 May 1998 on settlement finality in payment and securities settlement systems, as amended by Directives 2009 / 44 / EC and 2010 / 78 / EU of the European Parliament and of the Council. Directive 2001 / 34 / EC of the European Parliament and of the Council of 28 May 2001 on the admission of securities to listing on the stock exchange and on the information to be published on them, as amended by Directives 2003 / 6 / EC, 2003 / 71 / EC, 2004 / 109 / EC and 2005 / 1 / EC of the European Parliament and of the Council. Directive 2003 / 6 / EC of the European Parliament and of the Council of 28 January 2003 on insider dealing and market manipulation (market abuse). Directive 2003 / 71 / EC of the European Parliament and of the Council of 4 November 2003 on the prospectus to be published in the public tender or admission to trading of securities and amending Directive 2001 / 34 / EC, as amended by Directives 2008 / 11 / EC, 2010 / 73 / EU, 2010 / 78 / EU, 2013 / 50 / EU and 2014 / 51 / EU of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments, as amended by Directives 2006 / 31 / EC and 2007 / 44 / EC of the European Parliament and of the Council. Commission Directive 2004 / 72 / EC of 29 April 2004 implementing Directive 2003 / 6 / EC of the European Parliament and of the Council as regards recognised market practices, the definition of confidential information in relation to commodity derivatives, the compilation of insider lists, the reporting of transactions by responsible managers and the reporting of suspicious transactions. Directive 2004 / 109 / EC of the European Parliament and of the Council of 15 December 2004 on the harmonisation of transparency requirements concerning information on issuers whose securities are admitted to trading on a regulated market and amending Directive 2001 / 34 / EC, as amended by Directives 2008 / 22 / EC, 2010 / 73 / EU, 2010 / 78 / EU and 2013 / 50 / EU of the European Parliament and of the Council. Commission Directive 2006 / 73 / EC of 10 August 2006 implementing Directive 2004 / 39 / EC of the European Parliament and of the Council as regards the organisational requirements and operating conditions of investment firms and the definition of terms for the purposes of that Directive. Commission Directive 2007 / 14 / EC of 8 March 2007 laying down detailed rules for the implementation of certain provisions of Directive 2004 / 109 / EC on the harmonisation of transparency requirements concerning information on issuers whose securities are admitted to trading on a regulated market, as amended by Directive 2013 / 50 / EU of the European Parliament and of the Council. Directive 2013 / 36 / EU of the European Parliament and of the Council of 26 June 2013 on the taking up and prudential supervision of credit institutions and investment firms, amending Directive 2002 / 87 / EC and repealing Directives 2006 / 48 / EC and 2006 / 49 / EC. ';

2. footnote 2 shall read:

"(2) Commission Regulation (EC) No 2273 / 2003 of 22 December 2003 implementing Directive 2003 / 6 / EC of the European Parliament and of the Council as regards exemptions for repurchase and stabilisation programmes of financial instruments. Commission Regulation (EC) No 809 / 2004 of 29 April 2004 implementing Directive 2003 / 71 / EC of the European Parliament and of the Council as regards data contained in prospectuses, format of prospectuses, presentation of data in the form of a reference, publication of prospectuses and dissemination of advertisements, as amended by Commission Regulations (EC) No 1787 / 2006, 211 / 2007 and 1289 / 2008 and as amended by Commission Delegated Regulation (EU) No 311 / 2012, 486 / 2012, 862 / 2012, 621 / 2013 and 759 / 2013. Commission Regulation (EC) No 1287 / 2006 of 10 August 2006 implementing Directive 2004 / 39 / EC of the European Parliament and of the Council as regards the recording obligations of investment firms, transaction reporting, market transparency, the admission of financial instruments to trading and the definition of terms for the purposes of that Directive. Regulation (EC) No 1060 / 2009 of the European Parliament and of the Council of 16 September 2009 on credit rating agencies, as amended by Regulations (EU) No 513 / 2011 and (EU) No 462 / 2013 of the European Parliament and of the Council and as amended by Directives 2011 / 61 / EU and 2014 / 51 / EU of the European Parliament and of the Council. Regulation (EU) No 236 / 2012 of the European Parliament and of the Council of 14 March 2012 on short selling and certain aspects of credit default swaps, as amended by Regulation (EU) No 909 / 2014 of the European Parliament and of the Council. Regulation (EU) No 648 / 2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, central counterparties and trade repositories, as amended by Directive 2014 / 59 / EU of the European Parliament and of the Council, as amended by Commission Delegated Regulation (EU) No 1002 / 2013 and as amended by Regulation (EU) No 575 / 2013 of the European Parliament and of the Council. Regulation (EU) No 575 / 2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648 / 2012. Regulation (EU) No 909 / 2014 of the European Parliament and of the Council of 23 July 2014 on improving securities settlement in the European Union and CSDs and amending Directives 98 / 26 / EC and 2014 / 65 / EU and Regulation (EU) No 236 / 2012. ';

3. In Paragraph 1 (2), the words "as regards final compensation 'are replaced by the words" as regards final compensation (24)' and the words "final compensation (24) 'are replaced by the words" final compensation'.

4. in Paragraph 1 (3), including footnotes 42, 43, 49, 50 and 51:

"(3) This Act also regulates the jurisdiction of the Czech National Bank and the Ministry of Finance (hereinafter referred to as" the Ministry ') and administrative offences following:

(a) directly applicable European Union law governing credit rating agencies (49);

(b) directly applicable European Union regulation governing short selling and certain aspects of credit default swaps (42);

(c) the directly applicable European Union law governing OTC derivatives, CCPs and trade repositories (43);

(d) a directly applicable European Union regulation governing prudential requirements for credit institutions and investment firms (50); and

(e) the directly applicable European Union law governing the improvement of securities settlement in the European Union and the CSDs 51).

42) Regulation (EU) No 236 / 2012 of the European Parliament and of the Council.

43) Regulation (EU) No 648 / 2012 of the European Parliament and of the Council.

49) Regulation (EU) No 1060 / 2009 of the European Parliament and of the Council.

50) Regulation (EU) No 575 / 2013 of the European Parliament and of the Council.

51. ';

5. In Paragraph 2 (3), the comma at the end of point (b) is replaced by a dot and point (c) is deleted, including footnote 2d.

6.

7. in § 10b (2), "§ 122 (10) to (15)" is replaced by "§ 122a (4) to (6) and § 122b (1) to (3)."

8. in Article 12c (1) (a), the words "kept by a CSDs (hereinafter referred to as" CSD ")" shall be deleted;

9. In § 12f of the introductory part of the provision, § 12i (1), § 16a (2) of the introductory part of the provision, § 28 (2) (h), § 28 (7) (a), § 135a (8), § 135b (1), § 135d (3) (d), § 136 (2) of the introductory part of the provision, § 136 (2) (b), § 136 (5) (b) and (e), § 136 (7) of the introductory part of the provision, § 152a (1) of the introductory part of the provision, § 153 (6), § 157 (8) (b), § 157 (8) (m) of the introductory part of the provision, and in Article 199 (5), the words "prudential requirements" of the credit institutions and the investment enterprise 50) shall be inserted. "

10. in Article 12i (2) of the Introductory Part of the Provisions, the words "executing or" shall be replaced by the words "implementing," and the words "prudential requirements" shall be inserted after the words "credit institutions and investment firms 50) or the directly applicable European Union law on improving securities settlement in the European Union and CSDs 51) ';

11. in § 28 (2) (h) and § 28 (7) (a), the word "9a" is replaced by "§ 9a."

12.Paragraph 32c (7) reads as follows:

"(7) The Czech National Bank shall delete the tied agent from the list if:

(a) receive the notification referred to in paragraph 6 (d);

(b) the represented is no longer entitled to carry out any of the activities referred to in Paragraph 32a (1) to which the representation relates; or

(c) a tied agent shall request the Czech National Bank to be deleted by means of a written request. "

13. In Article 34, at the end of paragraph 1, the sentence "Acceptance of investment instruments for trading or trading in them on a European regulated market, in a multilateral trading system and in other organised platforms shall not be considered a public offer; This shall not prevent the issuer from deciding, in such cases, to draw up a prospectus and publish it under this law. ';

14. in Paragraph 34 (4) (a), the following points 6 and 7 are added:

"(6) the European Fund for Financial Stability,

7. The European Stability Mechanism, '.

15. in Article 34 (4) (f) (1), the word "priority" shall be inserted after the word "subordinate."

16. in Paragraph 35 (3), "(a) and (c)" shall be replaced by "(a) to (c)";

17. in Paragraph 35 (4) (b), the comma after the word "merger" shall be replaced by "or" and the words "or on the basis of an approved restructuring plan" shall be deleted;

18. In Article 36a (3), the words "and to each supervisory authority of the Member State in which the security is to be offered or admitted to trading on a European regulated market 'shall be replaced by the words" without undue delay after the public offer has been made and, where possible,';

19. in Paragraph 36c (6):

"(6) Applications under paragraphs 1 to 3 may be made in paper form or electronic form. The annex to the application for approval of the prospectus shall consist of the documents referred to in paragraph 5. ';

20. § 36g, including the title reads:

„§ 36g

Language of the prospectus

(1) Where the Czech National Bank approves a prospectus for the purposes of public tender in the Czech Republic or the admission of a security to trading on a regulated market, it shall be drawn up in the Czech language or in the English language; However, where a prospectus is requested to be approved only for the purposes of public tender in the Czech Republic and securities issued by the issuer of the securities offered are not admitted to trading on a European regulated market (§ 55 (2)), the prospectus must be drawn up in the Czech language.

(2) The prospectus shall be drawn up in the Czech language or in the English language and, as decided by the person drawing up the prospectus, either in the language in which documents may be submitted to the competent supervisory authority of the Member State of the European Union or in the English language, provided that the Czech National Bank approves the prospectus for the purposes of:

(a) public offers in the Czech Republic and at the same time in one or more other Member States of the European Union;

(b) the admission of a security to trading on a regulated market (§ 55) and at the same time for admission to trading on one or more foreign regulated markets;

(c) public offers in the Czech Republic and admission to trading on one or more foreign regulated markets; or

(d) the admission of a security to trading on a regulated market and at the same time public offers in one or more other Member States of the European Union.

(3) The prospectus shall be drawn up, as decided by the person drawing up the prospectus, either in the language in which documents may be submitted to the supervisory authority of the Member State of the European Union or in English, provided that the Czech National Bank approves the prospectus for the purposes of:

(a) public tenders in one or more other Member States of the European Union; or

(b) the admission of a security to trading on a foreign regulated market.

(4) For the purposes of the approval of the prospectus by the Czech National Bank within the meaning of paragraph 3, the prospectus shall be drawn up, as decided by the person drawing up the prospectus, either in the Czech language or in the English language.

(5) Where the Czech National Bank approves a prospectus of a debt security whose nominal value or price per head is at least equal to the amount corresponding to the limit in euro, for the purposes of admission to trading on one or more European regulated markets, the prospectus shall be drawn up as decided by the person drawing up the prospectus either in Czech or in English and in a language in which documents may be submitted to the competent supervisory authority of another Member State or in English.

(6) In the cases referred to in paragraphs 1 and 2, the summary of the prospectus shall always be drawn up in the Czech language. ';

21. In Article 36h (1) (a), the words "on the website of the person through whom the proceeds or other cash transactions (the paying agent) are paid shall be inserted after the words" the consent of the issuer. ";

22. At the end of paragraph 4, the sentence "Prospect shall be published in the language in which the Czech National Bank was approved (§ 36c) or in which the Czech National Bank received a copy of it (§ 36f)."

23. In Article 60 (5), the words ", foreign CSDs or foreign CSDs which have been authorised to operate or have been recognised under the directly applicable European Union law governing the improvement of securities settlement in the European Union and the CSDs 51) shall be inserted after the word" depositary. "

24. § 87a is deleted.

25.

„§ 91

Encrypted securities, with the exception of book-entry collective investment securities held in a separate register of investment instruments and book-entry securities held in the Ministry's register under the law governing budgetary rules, may only be recorded under Czech law in the central register of book-entry securities and in the record-keeping of book-entry securities. "

26. § 92, including the title:

„§ 92

Central records of book-entry securities

(1) The central register of book-entry securities is the register of book-entry securities maintained by a CSD or a foreign CSD under Czech law.

(2) Records relating to the central register of book-entry securities may lead to:

(a) a securities dealer who is authorised to keep and manage investment vehicles, including related services;

(b) who is entitled under the law governing investment companies and investment funds to keep a deposit of securities or to keep records of book-entry securities of an investment fund, if it is on the register of units or the founding or investment shares issued by the investment fund;

(c) Czech National Bank,

(d) a foreign person whose activity corresponds to that of the persons referred to in (a) or (b);

(e) a CSD, a foreign CSD or a foreign CSD that has obtained a permit to operate or has been recognised in accordance with the directly applicable European Union law governing the improvement of securities settlement in the European Union and a CSDs 51) or a foreign person authorised to keep a register of investment vehicles.

(3) The central register of book-entry securities is also the register of book-entry securities maintained by the Czech National Bank under the Act governing the activities of the Czech National Bank. The Czech National Bank publishes the rules for keeping this register and changing it on its website.

(4) The central register of book-entry securities is also the stock records immobilized pursuant to Section 93a, if the CSD, foreign CSD or the Czech National Bank maintains such records under Czech law. "

27. in Paragraph 93 (1), the words "or immobilized securities" shall be added at the end of the text in point (b).

28. In Section 93 (2) of the Introductory Part of the provision, the words "the CSD and, depending on the authorisation granted, also 'are deleted.

29. in Paragraph 93 (3) (e), the words "which is entitled to provide investment services in the Czech Republic" shall be deleted.

30. in Paragraph 93 (3), the following point (f) is inserted after point (e):

"(f) a CSD;"

Point (f) shall be renumbered as point (g).

31. in Article 93 (3) (g), the words "a foreign CSD which has obtained authorisation to operate or has been recognised under the directly applicable European Union law governing the improvement of securities settlement in the European Union and a CSDs 51) shall be inserted after the word" depositary. "

32. in Paragraph 93 (4), "(e)" is replaced by "(f)";

33.Paragraph 93 (5) is deleted.

Paragraph 6 shall become paragraph 5.

34. in Article 93a (1), the words "or the directly applicable European Union law governing the improvement of securities settlement in the European Union and the CSDs 51" shall be inserted after the words "adjusting securities";

35. in Article 93a (2), the words "or the directly applicable European Union law governing the improvement of securities settlement in the European Union and the CSDs 51" shall be inserted after the word "conditions."

36. in Article 93a (5), the words "a CSD," shall be replaced by the words "a person who keeps a central register of book-entry securities or a foreign CSD that has obtained authorisation to operate or has been recognised in accordance with a directly applicable European Union regulation governing the improvement of securities settlement in the European Union and a CSDs 51); ';

37. In Article 93a, at the end of paragraph 5, the sentence "An equity company whose shares are admitted to trading on a regulated market or on a multilateral trading venue may conclude a contract for the safekeeping of its issued immobilisation shares only with a person who keeps a central register of book-entry securities or with a foreign CSD that has been authorised to operate or has been recognised under a directly applicable European Union law governing the improvement of securities settlement in the European Union and a CSDs 51). '

38. Paragraph 94, including the title, reads:

„§ 94

Type of accounts

(1) The property account must contain details of the person for whom it is maintained and, in the case of a natural person, the birth number. The property account shall include at least investment vehicles, separately transferable rights associated with investment instruments, lien on investment instruments and suspension of the exercise of the owner's right to dispose of book-entry investment instruments. In addition, data shall be recorded on the person entitled to exercise those rights and on the person who is a lien creditor. For a natural person entitled to exercise those rights and for a natural person who is a lien, a birth number shall also be registered. Where no birth number has been assigned to a natural person, the date of birth shall be recorded. In addition, the limit on the transferability of the security as determined by the issuer shall be recorded for securities. The person who keeps a central register of book-entry securities, for central records and for implementing legislation (Section 93 (4)) for a separate register shall specify which data are to be recorded in each type of property account. The property account shall be established by contract between the person for whom the account is maintained and the person authorised to establish the account.

(2) A person who keeps a central register of book-entry securities shall keep such a register on the account of the owners or accounts of the customers. If the person who holds the central register of the book-entry securities is the owner's account, he may not transfer the pledged security registered in that account to the new owner without the consent of the lien creditor.

(3) The person who keeps the records relating to the central register of book-entry securities shall keep them in the accounts of the owners. This person may not, without the consent of the lien creditor, transfer to the new owner the pledged security registered in that account.

(4) A person who keeps a separate register of investment vehicles shall keep that account on the account of the owners or accounts of the customers. If that person holds the owner's account, he may not transfer to the new owner, without the consent of the lien creditor, the pledged security registered in that account.

(5) A person who keeps a register that is linked to a separate registration of investment vehicles shall keep that record on the account of the owners or accounts of the customers. A customer account may only be held by the person referred to in § 93 (3) (e) or (g) who keeps a follow-up record abroad under foreign law. If the person who keeps a record of a separate registration of investment vehicles is the owner's account, he may not transfer to the new owner, without the consent of the lien creditor, the pledged security registered in that account to the new owner.

(6) The central register of book-entry securities and the separate register of book-entry collective investment securities are also kept in the issue register. The data on the issuer's person and on the individual securities referred to in paragraph 1 shall be entered in the issue record. The record of the issue shall be kept on the basis of a contract with the issuer. The Czech National Bank sets out the way in which an issue is recorded in its rules published pursuant to Paragraph 92 (3).

(7) Paragraph 94a (2) and (3) shall apply mutatis mutandis to a person who keeps a separate register of book-entry collective investment securities and to a person who keeps a record of a separate register of book-entry collective investment securities; the scope of the data communicated shall be determined by the implementing legislation referred to in Article 93 (4). ';

39. After Paragraph 94, the following Section 94a is inserted:

„§ 94a

Listing of issues of book-entry securities

(1) A person who keeps a central register of book-entry securities shall keep a record of the issue of book-entry securities on the basis of a contract with the issuer.

(2) The person who keeps a central register of book-entry securities shall transmit to the issuer an extract of the record of the issue when issuing or withdrawing the issue of the book-entry security or at the request of the issuer; an issue record extract shall contain data on the account holder of the book-entry security, the number of security items, data on the administrator or other person authorised to exercise the rights associated with those securities and other data specified by the person who keeps the central record of the book-entry securities. A person who keeps a central register of book-entry securities shall also include in the statement the information received from the account holder referred to in paragraph 5.

(3) A CSD or a foreign CSD shall, upon request, provide the Czech National Bank with an extract of the stock stock stock records. Upon such request, a CSD or a foreign CSD shall, through its participants, invite all account holders to provide them with information on the owners of shares that are registered in the customer account and shall include that information in the Emission Record.

(4) A CSD or a foreign CSD shall, upon request from an authorised packaging company under the law governing the management of the packaging of an emission record, invite through its participants all account holders to provide them with information on the owners of the shares of that company registered in those accounts and shall include such information in the emission record.

(5) For the purposes of the statement of account of an issue, the account holder of the customer account shall communicate to the person who keeps the account of the book-entry securities through his participant the information about the account holder of the owner and other data specified by the person who keeps the central account of the book-entry securities. ';

40. in § 95 (1) and in § 99 (3), the words "the operational rules of a CSD (§ 104)" shall be replaced by the words "a CSD or a foreign CSD" and the words "93 (5)" shall be replaced by the words "92 (3)."

41. In the first sentence of Paragraph 95 (1), the words "operating rules' are replaced by" rules'.

42. In Paragraph 95 (3), the words "managed by a CSD" shall be deleted and the words "a CSD (§ 109), a CSD participant" shall be replaced by the words "a participant of the person keeping the register of investment instruments,"

43. After Paragraph 95, the following Section 95a is inserted:

„§ 95a

Order of participant

(1) A participant in a person who keeps a central register of book-entry securities shall submit an order to that person to:

(a) the establishment or cancellation of the property account;

(b) making a change to the property account;

(c) the performance of the service.

(2) Without the order of the participant, the person who keeps the central register of the book-entry securities shall only enter in the register of the book-entry securities on order

(a) an issuer which has a contract with a person who keeps a central register of book-entry securities, in accordance with Paragraph 94a (1), if it is linked to the entry in the record of an issue; or

(b) persons referred to in Article 115 (1) who are entitled to do so under another legislation. "

44. In Article 96 (5), the words "or in a multilateral trading venue 'are inserted after the words" a regulated market' and the words "a multilateral trading venue operator 'are inserted.

45. in Paragraph 97 (1) (a), the words "operator of a multilateral trading venue" shall be inserted after the words "market."

46. in Article 97 (1) (c), the words "a CSD" shall be replaced by the words "a person who keeps a central register of book-entry securities" and the words "a CSD under Article 100" shall be replaced by the words "which it provides."

47. in Article 98 (1) (a), the words "the CSD" shall be replaced by the words "the person who keeps a central register of book-entry securities" and the words "the market" shall be inserted after the word "the operator of the multilateral trading venue."

48. in § 99 (1) and in § 115 (1) and (5), the words "the CSD" shall be replaced by the words "the person who keeps a central register of book-entry securities."

49. In Article 99 (2), the notional sentence is replaced by the following: "Where an extract is issued by a participant of a person who keeps a central register of book-entry securities, the participant is simultaneously a pledge debtor or a pledge of book-entry investment instruments in the statement and such pledged investment instruments are registered in his account of the owner kept by the central repository of the book-entry securities, the pledge creditor may require that person to confirm the accuracy of the statement and that person shall issue it without undue delay."

50. In Paragraph 99 (3), the words "operating rules' are replaced by the words" rules'.

51. in Article 99a (1), "12" is replaced by "10."

52. In Part Eight, in the title of Title II, the words "EXCEPTED CETATORS 'are replaced by the words" AND FOREIGN CENTRAL DESIGN'.

53.

„§ 100

(1) A CSD is a legal entity which:

(a) it has its seat in the Czech Republic; and

(b) it has been authorised to operate under the directly applicable European Union law governing the improvement of securities settlement in the European Union and the CSDs 51).

(2) A foreign CSD is a legal person which:

(a) has no registered office in the Czech Republic;

(b) has obtained a permit to operate or has been recognised in accordance with the directly applicable European Union law governing the improvement of securities settlement in the European Union and the CSDs 51); and

(c) it is entitled to provide services under the directly applicable European Union regulation on improving securities settlement in the European Union and CSDs 51) in the Czech Republic.

(3) A CSD's trading firm shall bear the designation "CSD." Those who are not a CSD or a foreign CSD shall not use the term "CSD."

(4) A CSD and a foreign CSD shall lay down the rules for the provision of information pursuant to Article 115. Those rules shall be binding on participants in a CSD and a foreign CSD, issuers of book-entry investment vehicles kept in a central repository, and owners or other persons authorised in relation to investment instruments registered in accordance with Section 202a, and persons who keep records relating to the central register of book-entry securities. In providing the information referred to in Article 115 (3), those rules shall also be binding on persons who keep separate records of investment vehicles. ';

(54) Sections 101 to 111 are deleted, including the headings and footnotes 11 and 12.

55. in Paragraph 115 (1) (e) (3), the words "under the Foreign Exchange Act" shall be deleted;

56. In Article 115 (2), the words "to the CSD 'are replaced by the words" to the person who keeps the central register of book-entry securities';

57. in Paragraph 115 (3), the words "and the operational rules of the CSD" shall be deleted;

58. Paragraph 118 (1) to (3) reads as follows:

"(1) The annual report and the consolidated annual report shall be published by the issuer no later than 4 months after the end of the financial year

(a) shares or similar securities representing a share of that issuer, where that security is admitted to trading on a European regulated market and the issuer has its registered office in the territory of:

1. The Czech Republic, or

2. a State which is not a Member State of the European Union, if the issuer has chosen the Czech Republic as a reference State (§ 123),

(b) a bond or similar security representing the right to repayment by that issuer or other investment security, the value of which relates to the repayment by that issuer of the debt, including the securitised debt, if the nominal value of that security at the date of its issue is not nearly equal to or greater than EUR 1 000, if the security is admitted to trading on a European regulated market and the issuer has its registered office in the territory

1. The Czech Republic, or

2. a State which is not a Member State of the European Union, if the issuer has chosen the Czech Republic as a reference State,

(c) a bond or similar security representing the right to repayment by that issuer or other investment security, the value of which relates to the repayment of the debt by that issuer, including the securitised debt, if the nominal value of that security at the date of its issue is almost equal to or greater than EUR 1 000, if that security is admitted to trading on a European regulated market and if that issuer has chosen the Czech Republic as a reference State; or

(d) another investment security where the security is admitted to trading on a European regulated market and the issuer has chosen the Czech Republic as the reference State.

(2) The issuer shall ensure that the published annual report and the consolidated annual report are publicly available for at least 10 years.

(3) The annual report shall contain the accounts audited by the auditor and the audit report in full. The consolidated annual report shall contain the financial statements and consolidated financial statements as verified by the auditor and the audit report in full. ';

59. In Article 118 (4), at the end of point (j), the word "a 'is replaced by a comma, at the end of point (k) is replaced by a comma and the following point (l) is added:

"(l) in the case of an issuer which is a large entity under the Accounting Act, also a description of the diversity policy applied to the statutory body, the supervisory board, the management board or any other similar body of the issuer, taking into account, for example, the criteria of age, sex, or education and expertise and experience, including information on the objectives of that policy, how the diversity policy is applied and the results of its application in the relevant financial year; If the issuer does not apply a diversity policy, it shall, instead of describing it, state the reasons why it does not apply that policy; such information shall be incorporated by the issuer in the annual report or the consolidated annual report as part of a separate part into which it integrates the information referred to in point (j). ';

60. In Article 118 (5), the comma at the end of point (k) is replaced by a dot and point (l) is deleted, including footnote 12c.

61. in Paragraph 118, the following paragraph 6 is inserted after paragraph 5:

"(6) In the annual report and the consolidated annual report, the issuer shall describe in a separate part to which it integrates the information referred to in point (j) of paragraph 4, how it fulfils the corporate governance code which is binding on it or which it voluntarily observes, in particular in relation to the topics which are of major importance to its shareholders or members, in its reasoned opinion. ';

Paragraphs 6 to 8 shall be renumbered paragraphs 7 to 9.

62. In the first sentence of Paragraph 119 (1), "(a) or (b) 'is replaced by" (a), (b) or (c)', "2 'is replaced by" 3' and "5 'is replaced by" 10'.

63.In Paragraph 119 (2) (d) (2), the word "party 2d)" is replaced by "party according to paragraph 9 of IAS 24 International Accounting Standard - Disclosure of Related Parties, annexed to Commission Regulation (EC) No 1126 / 2008."

64. in Articles 119 (3) and (4) and 127d (2), the word "standards 12e)" is replaced by "IAS 34 - Interim Financial Reporting, annexed to Commission Regulation (EC) No 1126 / 2008."

footnote 12e is deleted.

65.

„§ 119a

Report on payments paid by the State

The issuer referred to in Article 118 (1), which operates in the mining, timber or forestry sector, shall publish a report on a consolidated basis containing figures and information on payments paid to the State authorities under the Accounting Act no later than 6 months after the end of the accounting year. The issuer shall ensure that this published report is publicly available for at least 10 years. ';

66.In Paragraph 119b (2), "(b) or (c)" is replaced by "(b), (c) or (d)."

67.Paragraph 3 of Paragraph 119b is deleted.

Citation	Act No. 148 / 2016 Coll., amending Act No. 256 / 2004 Coll., on Capital Market Business, as amended, and other related laws
Regulation Type	Law
Author	-
Collection	Code of Laws

Date of Promulgation	17.05.2016
Effective from	01.06.2016
Effective until	-
Status	Valid

Act No 148 / 2016 Coll.

Act amending Act No. 256 / 2004 Coll., on Capital Market Business, as amended, and other related laws

Contents

ČÁST PRVNÍ

Čl. I

„§ 36g

„§ 91

„§ 92

„§ 94

„§ 94a

„§ 95a

„§ 100

„§ 119a

Contents

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