Czech National Bank measure No. 20 / 1994 Coll.
Measures of the Czech National Bank laying down the conditions for carrying out the exchange activities
Valid
20
MEASURES
Czech National Banks
of 3 January 1994
laying down the conditions for carrying out the exchange activities
The Czech National Bank provides for the Act No. 6 / 1993 Coll., on the Czech National Bank and pursuant to § 7 (5) of the Foreign Exchange Act No. 528 / 1990 Coll., as amended by Act No. 228 / 1992 Coll.:
GENERAL PROVISIONS
These conditions govern the conduct of foreign exchange activities by foreign exchange banks, (1) banks2) and other persons - legal and physical (hereinafter referred to as "entrepreneurs'), to whom a concession note (hereinafter referred to as" concession ') has been issued by the trade office, (3) which entitles them to operate the exchange.
(1) Currency exchange activities are the purchase of foreign exchange funds 4) per Czech currency. For the purpose of this measure, foreign exchange means value and foreign exchange - cheques.
(2) Banks and entrepreneurs may only purchase, in the course of exchange activities, those types of foreign exchange funds which have been agreed with the foreign exchange bank pursuant to § 16.
(1) Currency exchange activities are carried out at appropriate workplaces of foreign exchange banks or banks or at appropriate business premises defined for that purpose.
(2) The suitability of each workplace or establishment is subject to supervision by the Czech National Bank under the relevant laws. 5)
(1) Each exchange office of foreign exchange banks and banks must be marked in such a way as to show that it provides exchange services. Where an exchange office is established at a given point as a single place, it shall be identified by a commercial name.
(2) An establishment of entrepreneurs must be identified by a commercial name in which the word "bank 'or" savings bank', its translation or the words in which those words appear must not be used. 6) The establishment is further marked with the word "currency exchange" or, where appropriate, translations of that word.
It shall be responsible for the proper operation and compliance with the rules relating to the conduct of the exchange activities:
(a) a person who is designated as responsible for this area by an internal foreign exchange bank regulation or, where applicable, by a bank;
(b) designated representative, (7) if the entrepreneur is a legal person;
(c) an entrepreneur, a natural person or a representative appointed by him. 7)
Basic concepts
(1) Identification of the exchange office, establishment means the identification marks by which the documents relating to the conduct of the exchange activity must be marked. These features are:
(a) the official stamp or stamp of the trader, containing the trade name;
(b) the signature or cipher of the authorised official in accordance with the signatures;
(c) the identification number. 8)
(2) Signatures are documents containing the names, signatures and codes of the personnel authorised to conduct the exchange operations. The signature designs must be approved and endorsed by the person responsible for carrying out the exchange activities referred to in Section 5 and must always be available at the place of purchase of foreign exchange funds to the Czech National Bank, which exercises banking supervision pursuant to Section 17.
(3) The following shall be used in the conduct of the exchange activity:
(a) forms
1. a deduction on the replacement of valut - foreign exchange or a deduction on the purchase of valut - foreign exchange (hereinafter referred to as the "purchase deduction"),
2. the value book or the value diary,
3. the collection accounting document - an inventory of balances and cheques in the performance of the bidding obligation,
(b) documents - assemblies of processed computer equipment which must contain the same particulars as the forms.
(4) The official rates are the exchange rates announced by the Czech National Bank as foreign exchange market courses - foreign exchange rates, values that are valid for the following working day after their publication and until new official rates are valid for Valut and Foreign Exchange.
OBLIGATIONS TO IMPLEMENTATION OF THE DIRECTIVE
Purchases of foreign exchange funds shall be made:
(a) foreign exchange banks on the basis of an agreed purchase rate which may not be lower than the official purchase rates of valut9) or foreign exchange;
(b) banks and entrepreneurs on the basis of an agreed purchase rate of value or foreign exchange.
The exchange-rate services provided may be charged (10) in Czech koruna, which is determined by a percentage of the exchange-rate value, whereby the foreign-exchange-rate bank, bank or entrepreneur may set a minimum and maximum price.
The purchase rates of Valut or Foreign Exchange and the prices charged for the exchange services provided must be published in such a place and in such a way that the client is clearly and unequivocally informed of these facts before the exchange operation takes place.
(1) The purchase of foreign exchange funds shall be subject to a deduction for purchases which shall always be numbered and shall contain the following information:
(a) purchase of valutes
1. the number of the client's passport, the country of issue or his name and surname which has been verified on the valid identity card submitted by the client;
2. the type of identity card, its number and country of issue, unless a passport has been issued;
3. the designation of the currency purchased by ISO code, its quantity, the purchase rate,
4. exchange rate,
5th price of service,
6. the amount to be paid,
7. identification marks of the establishment, date and place of issue,
8. Lesson learned that it is not possible to resell foreign exchange funds for unused Czech currency if the client did not submit a passport or other identity card when buying,
(b) purchase of foreign exchange - cheques,
1. the number of the client's passport, the country of issue or his name and surname which has been verified on the valid identity card submitted by the client;
2. the type of identity card, its number and country of issue, unless a passport has been issued;
3. the designation of the currency purchased by ISO code, its quantity, the purchase rate,
4. exchange rate,
5th price of service,
6. the amount to be paid,
7. identification marks of the establishment, date and place of issue,
8. the name of the owner of the check,
9. check numbers,
The 10th name of the checkbook.
(2) If the client does not submit the official document referred to in paragraph 1 (a) (1), the purchase of Valutes may take place up to a maximum of CZK 5000.
(3) One copy of the purchase deduction is always in the register, the other is received by the client. In the case of manual processing, the original of the purchase deduction shall remain in the register. 11)
(4) When making a cancellation, the purchase deduction is marked on the original and the copy is marked with the word "cancellation," followed by identification marks, date and place of issue. The deduction is included in the other deductions in the number series.
(5) All information on the forms and documents must be recorded in full, in evidence and correct form. 12)
(6) Corrections made in the purchasing deductions and in other forms and documents used in the exchange operation must not lead to incompleteness, inconclusive and incorrect accounting. 13)
In the performance of the exchange activity, a value book or a value diary or corresponding documents shall be kept for each establishment or establishment - a set of processed computer equipment (Section 6 (3)). The entries shall contain data providing a daily overview of any foreign exchange funds purchased. The data shall be consistent with the data shown on the purchase deductions issued. Quantification of the aggregate amounts of each type of foreign exchange funds purchased - the closing date is daily.
(1) Foreign exchange banks treat purchased foreign exchange funds in accordance with the terms of the foreign exchange permit issued by the Czech National Bank, 14) they must comply with the rules that are declared by the Czech National Bank in the Collection of Laws. 15)
(2) Banks and entrepreneurs shall keep records of the proceeds made of the foreign exchange funds purchased in the value book or in the value book or in the corresponding documents - compilation of the processed computer equipment. The entries on the contributions must agree with the data on the accounting document collected and issued by the foreign exchange bank in accordance with Section 16.
For each payment of foreign exchange funds to the relevant foreign exchange bank pursuant to Section 16, a collection accounting document shall be drawn up containing the aggregate amounts of each type of foreign exchange funds, the number of deductions relating to the purchases covered by the deposit and the time period during which the foreign exchange funds were purchased.
(1) The agency carrying out the exchange activities is responsible for the authenticity and correct number of foreign exchange funds purchased. If that entity suspects that the foreign exchange funds submitted are falsified or altered, it shall withdraw them to a certificate. 16)
(2) In the cases referred to in paragraph 1, a certificate shall be drawn up in at least four copies intended for:
(a) the petitioner,
(b) the head office of the Czech National Bank,
(c) the police,
(d) the establishment or establishment which detained the forgery.
The holding of foreign exchange funds is required to be sent without delay along with the confirmation of the Czech National Bank headquarters in Prague.
All forms and documents - compilations of processed computer equipment (Section 6 (3)) used in the exchange activities are accounting documents according to a special law. 17) These documents shall be kept for a period of five years following the year in which they were issued, of which two years in the business premises. Documents may be shredded only after that period has elapsed.
TENDER OBLIGATIONS
(1) Banks and entrepreneurs are required to offer to the foreign exchange bank all the foreign exchange funds acquired (hereinafter referred to as the "levy"). 18) The foreign exchange bank shall issue a document to the bank or the entrepreneur on the payment made.
(2) Banks and entrepreneurs are required to conclude a written contract with the foreign exchange bank for the implementation of the levy referred to in paragraph 1 before the start of the exchange operation. The contract shall include in particular the dates of the contributions and the types of foreign exchange funds purchased by the foreign exchange bank.
(3) The payments shall be made by individual banks' or individual establishments where several of them have been set up by a bank or by an entrepreneur.
BANKING SURVEILLANCE
Bank supervision of the exchange activities is carried out by the Czech National Bank. 19)
FINAL PROVISIONS
The measure of the Czechoslovak State Bank of 9 September 1992 setting out the conditions for carrying out the exchange activities by legal and natural persons, as declared in the amount 94 / 1992 Coll.
This measure shall take effect on the day of its publication.
Governor:
Ing. Tošovský v. r.
1) § 3 of Foreign Exchange Act No. 528 / 1990 Coll., as amended by Act No. 228 / 1992 Coll. (full version No. 457 / 1992 Coll.).
2) Paragraph 7 (6) of the Foreign Exchange Act.
3) Act No. 455 / 1991 Coll., on Business Business (Trade Act), as amended.
4) Paragraph 1 (3) (o) of Act No. 21 / 1992 Coll., on Banks.
5) Foreign exchange law. Act No. 21 / 1992 Coll.
6) § 3 of Act No. 21 / 1992 Coll.
7) § 11 of Act No. 455 / 1991 Coll.
8) Paragraph 28 (6) of Act No. 513 / 1992 Coll., Commercial Code, as amended.
9) Paragraph 5 (3) of the Czech National Bank Act No. 184 / 1993 Coll., laying down the conditions for trade in foreign exchange funds carried out by foreign exchange banks in the internal foreign exchange market.
10) § 2 paragraphs 1 and 2 of Act No. 526 / 1990 Coll., on Prices.
11) § 11 of Act No. 563 / 1991 Coll., on Accounting.
12) § 7 of Act No. 563 / 1991 Coll.
13) § 35 of Act No. 563 / 1991 Coll.
14) Paragraph 7 (1) of the Foreign Exchange Act.
15) For example, the measure of the Czechoslovak State Bank of 1.6.1992 laying down restrictions and conditions for unsecured foreign exchange positions (amount 86 / 1992 Coll.).
16) § 21 of the ČNR Act No. 6 / 1993 Coll., on the Czech National Bank. § 2 of Decree No. 147 / 1992 Coll., laying down the procedure for receiving and handling legal money and providing compensation for incomplete and damaged banknotes and coins.
17) Act No. 563 / 1991 Coll.
18) Sections 11 and 12 of the Foreign Exchange Act.
19) § 44 to 46 of ČNR Act No. 6 / 1993 Coll.
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Regulation Information
| Citation | Measure Česká národní banka č. 20 / 1994 Coll., laying down the conditions for carrying out the exchange activities |
|---|---|
| Regulation Type | - |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 07.02.1994 |
|---|---|
| Effective from | - |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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