Decree of the Czech National Bank No. 183 / 2002 Coll.
Order of the Czech National Bank laying down the procedure for foreign exchange points in making payments to and from abroad and towards foreigners
Valid
Order
Effective from 01.06.2002
Text versions:
01.06.2002
09.05.2002
183
DECLARATION
Czech National Banks
of 16 April 2002
laying down the procedure for foreign exchange points for making payments to and from abroad and towards foreigners
The Czech National Bank provides, pursuant to § 8 (6) of Act No. 219 / 1995 Coll., Foreign Exchange Act, as amended by Act No. 482 / 2001 Coll.:
Subject matter
The procedure laid down in this decree applies to cash payments as defined by a special law, 1) which are carried out by banks and branches of foreign banks (hereinafter referred to as "the bank ') directly or through another bank, with the exception of payments in Czech currency made in the Czech Republic between domestic and foreign persons.
Reimbursement abroad and for the benefit of foreigners
(1) The bank shall make a payment on the basis of a payment order submitted by the authorising officer or on the basis of the receipt of another order by the bank under the agreed payment terms of the authorising officer, such as an order to open the letter of credit.
(2) The payment order or other order (hereinafter referred to as the "order") contains the payment title to indicate the purpose of the payment, which is the verbal designation of the purpose of the payment and the corresponding numerical indication of the payment title in accordance with the specific legislation. 1)
(3) The Bank may reject an order which is not accompanied by a payment title to indicate the purpose of the payment referred to in paragraph 2. The authorising officer shall be responsible for the mutual compliance of the numerical indication of the purpose of payment with the payment title with the verbal indication of the purpose of payment.
(4) Before making the remuneration, the bank shall verify that the order contains the information referred to in paragraph 2. If the order does not contain this information, the bank shall not execute the order and agree with the authorising officer to supplement it.
(5) Before making a payment of at least CZK 400,000, the bank will compare the combination of the numerical designation of the purpose of the payment with the payment title with the verbal designation of the purpose of the payment indicated by the originator. If these data are not in line with each other, the bank shall not execute the order and agree with the authorising officer to make the correction.
(6) The Bank is entitled to require from the authorising officer before making the payment the documents necessary to assess the accuracy of the information given concerning the designated purpose of the payment. At the request of the Bank, the authorising officer shall submit these documents.
(7) For documents where the acquisition of a copy would entail disproportionate costs for the authorising officer, the bank shall record the inspection of the documents. The record shall state the date, the facts of the evidence, the name and signature of the person who examined the documents.
(8) If the authorising officer is unable to submit the required documents, the bank may require the authorising officer to provide a written statement explaining the purpose of the payment and the reason for not submitting the documentary documents. The authorising officer's written statement may be given directly on the order.
(9) In the event that a special authorisation under the Foreign Exchange Act is required to be paid, (2) Before the payment is made, the bank shall request the authorising officer to submit the special authorisation and the authorising officer shall submit the special authorisation to the bank, otherwise the bank shall not make the payment. If the authorising officer declares that under the Foreign Exchange Code (2) a special permit is not required for the required reimbursement, he must prove this to the bank, otherwise the bank will not pay.
(10) The Bank shall keep a copy of the documents or a record of the inspection of documents or a written declaration and a copy of the special permit together with the order for a period of five years from the end of the year in which the payment took place, unless otherwise provided by the Special Law.
Reimbursement from abroad and from foreigners
(1) The payment shall be credited by the Bank to the beneficiary's account and shall be attributed to it a numerical indication of the payment title corresponding to the purpose of the payment by that authorising officer.
(2) If the purpose of the payment is not indicated by the authorising officer, the bank shall credit the payment in favour of the payee's account and assign to it the most appropriate numerical description of the payment title according to:
(a) the disposition of the beneficiary;
(b) agreements concluded between the client and the bank; or
(c) the nature of the recurring remuneration for the beneficiary or the focus of his activity.
(3) If the bank finds from the payee that the purpose of the payment should have been marked with another payment title, it shall make a correction in accordance with the procedure laid down in Section 6.
(4) If the remuneration referred to in paragraph 2 cannot be indicated, the bank shall assign a replacement payment title No 195 to the remuneration.
(5) For a payment of at least CZK 400,000, the bank shall inform the payee that a remuneration has been credited to him, the purpose of which the bank could not indicate with the corresponding payment title, and at the same time invite the payee to notify the corresponding purpose of the payment.
(6) In the event that the beneficiary does not inform the Bank of the purpose of the remuneration within 30 calendar days of the date of receipt of the call referred to in paragraph 5, the Bank shall proceed in accordance with Section 5. If the bank subsequently discovers the purpose of the remuneration from the payee, it shall correct the replacement payment title in accordance with the procedure laid down in Section 6.
(1) Unless otherwise provided for by an agreement between the banks, a bank receiving a remuneration for the client of another bank in the country (hereinafter referred to as the "intermediary bank ') shall ensure that the remuneration is credited to the account of the recipient's domestic bank held in the currency of the payment to be credited to its client's account.
(2) An intermediate bank receiving a remuneration in foreign currency for a customer of another bank in the country shall designate a remuneration by payment title 999 in accordance with the special legislature1 and shall ensure that the remuneration is credited to the account of the beneficiary's bank with a credit rating in favour of its client. In addition, the beneficiary's bank shall, in accordance with the procedure laid down in Article 3, credit the payment to the beneficiary's account and shall indicate it with the corresponding payment title in accordance with the special legislation1) in Groups 1 to 8.
(3) An intermediate bank that receives from abroad a payment in Czech currency for a client of another bank in the country shall credit the payment directly to the account of the beneficiary or to the account of the bank of the beneficiary with a credit to the account of its client and shall assign to it a numerical indication of the payment title according to a special legal regulation (1) in Groups 1 to 8 corresponding to the purpose of the payment by that authorising officer.
(4) If the purpose of the remuneration is not stated, the intermediary bank shall assign a replacement payment title No 195. In the case of a remuneration of at least CZK 400,000, the intermediary bank shall, at the same time as the communication on the crediting of the remuneration, the purpose of which could not be indicated by the corresponding payment title, call for the correct numerical indication of the payment title or purpose of the payment
(a) directly to the beneficiary of the remuneration and proceed further in accordance with Paragraph 3 (6); or
(b) a bank of the beneficiary which ascertains the purpose of the payment from the beneficiary in accordance with the procedure laid down in Article 3 (2) to (6) and shall immediately communicate it to the intermediate bank.
(5) If the intermediary bank finds out the purpose of the remuneration, it shall correct the replacement payment title in accordance with the procedure laid down in Section 6.
(6) The intermediate bank shall also proceed in accordance with paragraphs 3 to 5 where it receives a remuneration for the client of another bank in a foreign currency in the domestic country, which, according to an agreement between the banks, is credited directly to the account of the beneficiary or to the account of the bank of the beneficiary designated to be credited to the account of its client.
Infringement of foreign exchange regulations
(1) The bank shall notify the competent foreign exchange authority without undue delay of any breach or suspicion of breach of this Order or other foreign exchange regulations by the bank's client, 3) which shall comply with the Foreign Exchange Code. 4)
(2) In the notification referred to in paragraph 1, the Bank shall give a description of the situation established and shall indicate:
(a) the name and surname of the natural person, date of birth or birth or birth number and address of the place of permanent residence or other address of the client;
(b) the name, surname and business name or name of the natural person of the entrepreneur, the place of business or the address of the place of permanent residence or any other client's address and identification number; where the identification number has not been assigned, the bank shall indicate the date of birth or the home number of the client;
(c) the company or name of the legal person, its registered office and its identification number.
Correction of reports
The bank, which will then find out from the beneficiary the corresponding purpose of the remuneration, shall correct the numerical description of the payment title by reducing the volume of the corrected payment title by 12-12 (PESIVE 10) in the statement "Monthly statement of foreign exchange and crown direct debit and payment (CNB) (PESIVE 10) 'in the next reporting period, while increasing the volume of the corresponding payment title by the amount concerned. This correction will be reflected by the bank in all material follow-up statistical reports of the series of DEV provided for by the Czech National Bank. 5)
Repeal
The Czech National Bank measure No. 312 / 1996 Coll., laying down the procedure of banks and branches of foreign banks in making payments to and from abroad and towards foreigners and marking their purpose with payment titles, is hereby repealed.
Efficacy
This Decree shall take effect on 1 June 2002.
Governor:
Doc. Ing. Tůma, CSc.
1) Measure Česká národní banka č. 36 / 2000 Coll., setting out payment titles for determining the purpose of the payments.
2) Paragraph 32 (6) of Act No. 219 / 1995 Coll., Foreign Exchange Act, as amended.
3) Paragraph 2 of the Foreign Exchange Act.
4) Paragraph 22 of the Foreign Exchange Act.
5) Measure České národní banka No 6 of 30 November 2001 providing for the submission of statements by banks and branches of foreign banks to České národní banka, published under No 55 / 2001 Coll.
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Regulation Information
| Citation | Decree of the Czech National Bank No. 183 / 2002 Coll., laying down the procedure for foreign exchange points when making payments to and from abroad and against foreign nationals |
|---|---|
| Regulation Type | Order |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 09.05.2002 |
|---|---|
| Effective from | 01.06.2002 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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