What is Act No. 21 / 1992 Coll.?

Act No. 21 / 1992 Coll., on Banks — Bank Act.

When it became Act No. 21 / 1992 Coll. effectiveness?

Act No. 21 / 1992 Coll. became effective 01.02.1992.

Is Act No. 21 / 1992 Coll. still valid?

Yes, Act No. 21 / 1992 Coll. is still valid and effective.

Act No. 21 / 1992 Coll.

Bank Act

Valid Effective from 01.02.1992

ČÁST PRVNÍ § 1 § 2 § 3 § 3a § 3b ČÁST DRUHÁ § 4 § 4a § 4b § 4c § 4d § 4e § 4f § 5 § 5a § 5b § 5c § 5d § 5e § 5f § 5g § 5h § 5i § 5j § 5k § 5ka § 5l § 5m § 5n § 5o § 5p § 6 § 7 § 7a § 7b ČÁST TŘETÍ § 8 § 8a § 8aa § 8ab § 8ac § 8ad § 8ae § 8af § 8ag § 8ah § 8ai § 8aj § 8ak § 8b § 8c § 8d § 9 § 9a § 10 § 10a ČÁST ČTVRTÁ § 11 § 11a § 11b § 11c § 12 § 12a § 12aa § 12ab § 12ac § 12ad § 12ae § 12af § 12ag § 12ah § 12ai § 12aj § 12ak § 12al § 12am § 12an § 12c § 12m § 12n § 12o § 12p § 12q § 12r § 12s § 12t § 12u § 12v § 12va § 12w § 12x § 12y § 14 § 16 § 16a § 17 § 17a § 17b § 17c § 17d § 17e § 17f § 17g § 17h § 17i § 17j § 17k § 17l § 17m § 17n § 17o § 17p § 17q § 17r § 17s § 18 § 19 § 19a § 19b § 20 § 20a § 20b § 20c § 20d ČÁST PÁTÁ § 21 § 22 § 22a § 22b § 23 § 24 § 24a ČÁST ŠESTÁ § 25 § 25a § 25b § 25c § 25d § 25e § 25f § 25g § 25ga § 25h § 25i § 25j ČÁST SEDMÁ § 26 § 26a § 26aa § 26ab § 26ac § 26b § 26ba § 26bb ČÁST OSMÁ § 26c § 26d § 26e § 26f § 26g § 26h § 26i § 26j § 26k § 26l § 26m § 26n § 26o ČÁST DEVÁTÁ § 27 § 28 § 29 § 29a § 30 § 30a § 30b § 31 § 32 ČÁST DESÁTÁ § 34 § 34a § 35 § 35a ČÁST JEDENÁCTÁ § 36 ČÁST DVANÁCTÁ § 36a § 36b § 36c § 36d § 36da § 36db § 36e § 36f § 36g § 36h § 36i § 36j ČÁST TŘINÁCTÁ § 37 § 38 § 38a § 38aa § 38ab § 38ac § 38ad § 38ae § 38af § 38b § 38c § 38d § 38da § 38e § 38f § 38g § 38h § 38ha § 38hb § 38hc § 38i § 38j § 38k § 38l § 39 § 40 § 41 ČÁST ČTRNÁCTÁ § 41a § 41b § 41c § 41ca § 41cb § 41cc § 41cd § 41ce § 41cf § 41cg § 41ch § 41d § 41e § 41ea § 41eb § 41f § 41g § 41h § 41i § 41j § 41k § 41m § 41n § 41o § 41p § 41q § 41r § 41s ČÁST PATNÁCTÁ § 42 § 43 § 44 § 44a § 44b § 44d § 44e § 44f § 45 § 46 § 47

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THE LAW

of 20 December 1991

on banks

The Federal Assembly of the Czech and Slovak Federal Republic decided on this law:

ČÁST PRVNÍ

BASIC PROVISIONS

§ 1

(1) This Act implements the relevant European Union1), following directly applicable European Union27) and regulates certain relations related to the formation, business and demise of banks located in the Czech Republic, including their activities outside the Czech Republic, as well as certain relations related to the functioning of foreign banks in the Czech Republic. Banks refer to public limited liability companies established in the Czech Republic which:

(a) receive deposits from the public; and

(b) grant loans;

and which have a bank licence to carry out the activities referred to in points (a) and (b) (hereinafter referred to as "licences') (Section 4).

(2) For the purposes of this Act:

(a) the deposit of funds which constitute a liability to the depositor for their payment;

(b) by credit in any form of temporary provision of funds.

(3) The Bank may, in addition to the activities referred to in paragraph 1 (a) and (b), carry out such other activities, provided that they are authorised under the licence granted to it,

(a) investment in securities for own account;

(b) financial leasing;

(d) the issue and management of means of payment, where they are not the provision of payment services or the issuance of electronic money referred to in (c);

(e) the provision of guarantees and commitments;

(f) the opening of letters of credit;

(g) the provision of direct debits;

(h) the provision of investment services, specifying in the licence which investment services the bank is entitled to provide and in relation to which investment instruments;

(i) financial brokerage; if the financial brokerage consists in the intermediation of consumer credit, insurance or reinsurance or supplementary pension savings, the bank may carry out this activity if it is authorised to do so under the law governing the brokerage of such financial services,

(j) the performance of the function of depositary;

(k) exchange activities;

(l) provision of bank information;

(m) trading on own account or on behalf of a client with foreign exchange values that are not an investment instrument and with gold;

(n) the hire of safety deposit boxes,

(o) implementing the administration of investment funds and foreign investment funds, specifying in the licence which activities the bank is authorised to carry out and in respect of which funds,

(p) the activity of an accredited person under the Capital Market Business Act;

(q) management of non-executive credit under the law governing the non-executive credit market;

(r) activities directly related to the activities referred to in points (a) to (q) and paragraph 1.

(4) The Bank must not engage in business activities other than those authorised in the licence; This shall not apply to activities carried out for another where they relate to the provision of its operations and the operation of other banks controlled by it, savings and credit cooperatives, securities dealers, insurance undertakings, reinsurance undertakings, financial institutions and ancillary services undertakings. The Bank may continue to exercise:

(a) the scope of the public administration contact point, if it holds an authorisation under a special law;

(b) the activity of an accredited person under the law governing the activity of accredited persons on the financial market, if it is an accredited person under that law;

(c) business activity consisting of the provision of electronic identification, authentication and trust services as defined directly by the applicable European Union electronic identification regulation and trust services for electronic transactions on the internal market35, as well as related services, in particular the provision or validation of client personal client identification data, client information related to its personal identification data, client banking information and the creation and preservation of electronic documents (hereinafter referred to as "identification services"), if required by law; information obtained and processed when providing identification services is subject to the provisions on banking secrecy (§ 38);

(d) the activity of the asset-linked token publisher under the conditions laid down directly by the applicable European Union regulation governing the markets for cryptoasset 47),

(e) the activity of an electronic money token issuer under the conditions laid down in the directly applicable European Union regulation regulating the markets for kryptoactiva47), provided that the bank is authorised to issue electronic money in the licence;

(f) the activity of the service provider associated with cryptoassets under conditions established by the directly applicable European Union regulation governing the markets for cryptoasset 47).

(5) If the authorisation of the Czech National Bank under the laws governing the provision of certain financial services is necessary for the performance of one of the activities referred to in paragraph 3 and the applicant demonstrates that all the conditions laid down for the granting of such an authorisation are fulfilled, the Czech National Bank shall permit the performance of that activity in the licence.

(6) The activities referred to in paragraph 4 (c) may be carried out by a foreign bank under Article 3b (3) (j) under the same conditions as the bank, unless this is contrary to the right granted to the foreign bank under the legal order of the country of its registered office.

(7) The licence contains a nominal definition of the authorised activity and may contain a definition of the scope of the authorised activity, but not in the sense of limiting the number of individual commercial cases, and may also include the setting of conditions which a bank or a foreign bank from a non-Member State must comply with in accordance with Paragraph 3b (3) (h) before any authorised activity is started or comply with in the performance of any authorised activity.

(8) The legal status of the Czech National Bank is governed by a special legislation.2)

(9) In addition to this law, certain rights and obligations concerning the activities of the National Development Bank, a.s. provide for a law governing the activities of the National Development Bank, a.s.

§ 2

(1) No person may accept deposits from the public without a licence unless otherwise provided for in the Special Act.

(2) Continuous issuance of bonds and other comparable securities shall also be considered to receive deposits where:

(a) constitutes a single or one of the main activities of the issuer;

(b) the business of the issuer is the provision of loans; or

§ 3

(1) The word "bank" or "savings bank," its translation or the words derived from it, may only be used in a trading firm by a legal person licensed, unless it is apparent from the context in which the word "bank" or "savings bank" is used that that person is not engaged in the activities referred to in § 1 (1).

(2) Paragraph 1 shall not apply to persons whose business name or business name is established or recognised by law or under an international treaty approved by Parliament, ratified and declared by the Czech Republic and bound by it, or under a similar international agreement which entered into force before 1 January 1993, hereinafter referred to as the "International Treaty."

(3) The Czech National Bank may require:

(a) the change of the proposed trading firm of the established bank in cases where there is a risk of confusion with the trading firm of another existing legal entity or its branch;

(b) a change in the designation of a branch of a foreign bank consisting of the addition of a distinguishing supplement in cases where there is a risk of confusion with a trading firm of another existing legal entity or with the designation of its branch.

§ 3a

The Czech National Bank shall act as a competent authority and shall be a designated authority in accordance with the directly applicable regulation of the European Union governing prudential requirements (27).

§ 3b

Definition of terms

(1) For the purposes of this Act:

(a) institutions of an institution as referred to in point (3) of Article 4 (1) of Regulation (EU) No 575 / 2013 of the European Parliament and of the Council;

(b) credit institution credit institution as referred to in point (1) of Article 4 (1) of Regulation (EU) No 575 / 2013 of the European Parliament and of the Council;

(c) an investment firm's investment firm as referred to in Article 4 (1) (2) of Regulation (EU) No 575 / 2013 of the European Parliament and of the Council;

(d) financial institution of a financial institution as referred to in point (26) of Article 4 (1) of Regulation (EU) No 575 / 2013 of the European Parliament and of the Council;

(e) the subsidiary undertaking referred to in Article 4 (1) (18) of Regulation (EU) No 575 / 2013 of the European Parliament and of the Council;

(f) the asset management company of the asset management company referred to in Article 4 (1) (19) of Regulation (EU) No 575 / 2013 of the European Parliament and of the Council;

(g) the controlling person of the parent undertaking referred to in Article 4 (1) (15) of Regulation (EU) No 575 / 2013 of the European Parliament and of the Council;

(h) controlled by a subsidiary pursuant to Article 4 (1) (16) of Regulation (EU) No 575 / 2013 of the European Parliament and of the Council;

(i) the domestic controlling bank person referred to in Article 4 (1) (29c) of Regulation (EU) No 575 / 2013 of the European Parliament and of the Council, based in the Czech Republic,

(j) a European controlling credit institution, the person referred to in Article 4 (1) (29d) of Regulation (EU) No 575 / 2013 of the European Parliament and of the Council;

(k) a financial holding person as referred to in point (20) of Article 4 (1) of Regulation (EU) No 575 / 2013 of the European Parliament and of the Council;

(l) a domestic financial holding person as referred to in Article 4 (1) (30) of Regulation (EU) No 575 / 2013 of the European Parliament and of the Council, based in the Czech Republic,

(m) a European financial holding person as referred to in Article 4 (1) (31) of Regulation (EU) No 575 / 2013 of the European Parliament and of the Council;

(n) a mixed financial holding person, as referred to in Article 4 (1) (21) of Regulation (EU) No 575 / 2013 of the European Parliament and of the Council;

(o) a domestic mixed financial holding person as referred to in Article 4 (1) (32) of Regulation (EU) No 575 / 2013 of the European Parliament and of the Council based in the Czech Republic,

(p) a European mixed financial holding person as referred to in Article 4 (1) (33) of Regulation (EU) No 575 / 2013 of the European Parliament and of the Council;

(q) a mixed holding person as referred to in Article 4 (1) (22) of Regulation (EU) No 575 / 2013 of the European Parliament and of the Council;

(r) the person referred to in Article 4 (1) (29a) of Regulation (EU) No 575 / 2013 of the European Parliament and of the Council by the domestic controlling securities dealer;

(s) the European controlling investment firm is the person referred to in Article 4 (1) (29b) of Regulation (EU) No 575 / 2013 of the European Parliament and of the Council;

(t) the insurance person referred to in point (5) of Article 4 (1) of Regulation (EU) No 575 / 2013 of the European Parliament and of the Council;

(u) the hedging entity referred to in point (6) of Article 4 (1) of Regulation (EU) No 575 / 2013 of the European Parliament and of the Council.

(2) For the purposes of this Act:

(a) participation in the participation referred to in Article 4 (1) (35) of Regulation (EU) No 575 / 2013 of the European Parliament and of the Council;

(b) qualifying holdings in accordance with Article 4 (1) (36) of Regulation (EU) No 575 / 2013 of the European Parliament and of the Council;

(c) control of the control referred to in Article 4 (1) (37) of Regulation (EU) No 575 / 2013 of the European Parliament and of the Council;

(d) close interconnection of close links as referred to in Article 4 (1) (38) of Regulation (EU) No 575 / 2013 of the European Parliament and of the Council;

(e) the consolidated situation of the consolidated situation referred to in Article 4 (1) (47) of Regulation (EU) No 575 / 2013 of the European Parliament and of the Council;

(f) the consolidated basis of the consolidated basis referred to in point 48 of Article 4 (1) of Regulation (EU) No 575 / 2013 of the European Parliament and of the Council;

(g) a sub-consolidated sub-consolidated basis, as referred to in Article 4 (1) (49) of Regulation (EU) No 575 / 2013 of the European Parliament and of the Council;

(h) the authority designated to exercise supervision on a consolidated basis by the authority referred to in Article 4 (1) (41) of Regulation (EU) No 575 / 2013 of the European Parliament and of the Council;

(i) the resolution authority pursuant to Article 2 (1) (p) of Act No. 374 / 2015 Coll., on financial market recovery and resolution procedures, as amended,

(j) group group referred to in Article 4 (1) (138) of Regulation (EU) No 575 / 2013 of the European Parliament and of the Council;

(k) a group from a Member State other than that of which the controlling party has its registered office or residence in a non-Member State;

(l) a group subject to resolution, a group subject to resolution under the financial market recovery and resolution law;

(m) a person subject to resolution who is a legal person established in a Member State against which a group resolution plan envisages the application of resolution measures or an institution which is not part of a group subject to supervision on a consolidated basis, against which the resolution plan envisages the application of resolution measures;

(n) credit transactions of credit and guarantee activities;

(o) financial instrument financial instrument as referred to in Article 4 (1) (50) of Regulation (EU) No 575 / 2013 of the European Parliament and of the Council;

(p) Common Equity Tier 1 capital of Common Equity Tier 1 according to Article 50 of Regulation (EU) No 575 / 2013 of the European Parliament and of the Council;

(q) Tier 1 capital of Tier 1 capital pursuant to Article 25 of Regulation (EU) No 575 / 2013 of the European Parliament and of the Council;

(r) the central bank of the European System of Central Banks, as referred to in point 45 of Article 4 (1) of Regulation (EU) No 575 / 2013 of the European Parliament and of the Council.

(3) For the purposes of this Act:

(a) a global systemically significant institution of a global systemically significant institution as referred to in Article 4 (1) (133) of Regulation (EU) No 575 / 2013 of the European Parliament and of the Council;

(b) a global systemically significant institution outside the European Union, a global systemically significant institution outside the European Union pursuant to Article 4 (1) (134) of Regulation (EU) No 575 / 2013 of the European Parliament and of the Council;

(c) a global systemically relevant institution entity, as referred to in Article 4 (1) (136) of Regulation (EU) No 575 / 2013 of the European Parliament and of the Council;

(d) another systemically significant institution other systemically significant institution as referred to in Article 4 (1) (146) (b) of Regulation (EU) No 575 / 2013 of the European Parliament and of the Council;

(e) environmental risk, social risk and risk of environmental, social and administrative management as referred to in Article 4 (1) (52d) of Regulation (EU) No 575 / 2013 of the European Parliament and of the Council;

(f) the Member State of the European Union and the State Party to the Agreement on the European Economic Area,

(g) a foreign bank from a Member State of an institution established in another Member State carrying out any of the activities referred to in § 5d in the Czech Republic through its branch established in the Czech Republic;

h) a foreign bank from a Member State other than a Member State, a person having its head office in a Member State other than that which, under a licence granted by the Czech National Bank, carries out an activity in the territory of the Czech Republic through its branch established in the Czech Republic

1. the granting of loans under Article 1 (1) (b) or the provision of guarantees and commitments under Article 1 (3) (e); or

2. acceptance of deposits from the public pursuant to Article 1 (1) (a);

(i) the principal person of a foreign bank other than a Member State and all its controlling persons;

(j) a foreign bank from a Member State and a foreign bank from a non-Member State;

(k) the minimum exit threshold for the minimum exit threshold referred to in Article 92 (3) of Regulation (EU) No 575 / 2013 of the European Parliament and of the Council;

(l) eligible own funds eligible under Article 4 (1) (71) (a) of Regulation (EU) No 575 / 2013 of the European Parliament and of the Council;

(m) a significant participation in another person equal to at least 15% of the eligible capital of the bank and of the financial holding person or mixed financial holding person approved in accordance with Article 27 (1) before acquiring a holding in that person;

(n) the information and communication technology risk referred to in Article 4 (1) (52c) of Regulation (EU) No 575 / 2013 of the European Parliament and of the Council;

(o) a large institution of a large institution as referred to in point 146 of Article 4 (1) of Regulation (EU) No 575 / 2013 of the European Parliament and of the Council;

(p) the Financial Director is the natural person responsible for the overall management of the Bank's financial resources, financial planning and financial reporting;

(q) internal control function of the risk management function, compliance function or internal audit function;

(r) the head of the internal control function, the natural person responsible for day-to-day management of the risk management function, the compliance function or the internal audit function, which is the maximum in the management hierarchy of the relevant function;

(s) a person in a key function who has a significant influence on the day-to-day management of the Bank's activities but is not a member of its statutory body; the person having a significant influence on the day-to-day management of the Bank's activities is the head of the internal control function and the financial director;

(t) the senior management person is directly subordinate to the statutory body of the bank and is involved in the day-to-day management of the bank under the authority of the bank; the senior management is not a member of the statutory body of the Bank,

(u) cryptoasset cryptoasset as referred to in Article 3 (1) (5) of Regulation (EU) 2023 / 1114 of the European Parliament and of the Council on cryptoasset markets which are not the central bank's digital currency.

ČÁST DRUHÁ

LICENCES

§ 4

(1) Licence applications are submitted to the Czech National Bank. The bank's minimum capital amount is CZK 500 000 000 and must at least consist of cash deposits.

(2) The Czech National Bank decides to grant the licence.

(3) Before taking a decision on a licence application, the Czech National Bank shall request the opinion of the supervisory authority of the Member State supervising credit institutions, investment firms or insurance undertakings where the person to be granted the licence is controlled by:

(a) institutions;

(b) the person authorised by the competent supervisory authority of the Member State to provide investment services;

(d) the person who controls the person referred to in (a), (b) or (c).

(4) The Czech National Bank will request that the opinion referred to in paragraph 3 include in particular information suitable for assessing whether the conditions referred to in paragraph 5 (d) and (e) are met.

(5) The following conditions shall be met for the granting of the licence:

(a) the transparent and safe origin of the bank's capital and other financial resources, their adequacy and satisfactory composition;

(b) full repayment of the capital;

(d) the credibility and eligibility of persons with qualifying holdings in a bank or, if such persons are not, the bank's 20 largest shareholders according to their share of the voting rights to exercise shareholders' rights in the bank's business;

(e) the credibility, competence and experience of the members of the statutory body, the members of the Board of Directors and the members of the Board of Supervisors of the Bank and the fulfilment of other requirements for the authorities of the Bank and their members pursuant to Section 8; the statutory body, the Board of Directors and the Supervisory Board for the purposes of this Act shall also be understood as being the subject of a similar competence, depending on the legal form of that person;

(f) the technical and organisational conditions for the performance of the proposed activities of the Bank, the effective management and control system of the Bank and the organisational arrangements of the Bank, including data on controls and financial holding persons and mixed financial holding persons within the Group;

(g) the business plan based on the proposed strategy of the Bank's activities is based on real economic calculations and clearly results from the activities it intends to carry out;

(h) transparency of a group of persons with close links with the bank;

(i) close links within the group referred to in (h) shall not prevent the exercise of supervision;

(j) in the State in whose territory the group referred to in (h) has close links, there shall be no legal or factual impediment to the exercise of supervision;

(k) the seat of the bank must be in the Czech Republic;

(l) the Bank shall have at least three employees or natural persons who carry out their activities under the order of another (hereinafter referred to as "the worker") who hold an executive management function and are members of its statutory body or board of directors.

(6) The Czech National Bank is entitled to request a copy of the criminal record concerning natural persons who are the founder of the Bank or who are proposed to be a member of the statutory body, a member of the Management Board or a member of the Supervisory Board of the Bank. In the past, a person who has been convicted of a criminal offence of a property nature or of an offence the facts of which relate to banking activities or to an intentional crime committed in connection with an enterprise may not act as a member of a statutory body, a member of the Management Board or a member of the Supervisory Board of the Bank.

(7) Where the Czech National Bank assesses the application referred to in paragraph 1 together with the application for approval pursuant to Paragraph 28 or the exemption from the approval requirement under Paragraph 29, it shall consult the competent supervisory authority of another Member State designated to exercise supervision on a consolidated basis and the competent supervisory authority of the Member State in which the person requesting pursuant to Paragraph 28 or 29 has its registered office, depending on the case in question. In such a case, the time limit for the decision to grant a licence under Paragraph 40 (3) shall be suspended until the date on which the decision on the application for approval pursuant to Paragraph 28 or the request for exemption from the approval requirement under Paragraph 29 becomes final. If the Czech National Bank does not receive the comments of the competent supervisory authority within the time limit for the granting of the licence, the proceedings shall be suspended for a period of 60 days in order to ensure the comments of the competent supervisory authority by the Czech National Bank.

§ 4a

A licence may also be granted at the request of a savings and credit cooperative, provided that it also requests approval to change the legal form of the savings and credit cooperative to a public limited liability company. Both applications shall be accompanied by a joint procedure under the law governing administrative procedures. The application for registration of a change in the legal form of a savings and credit cooperative to a public limited liability company may be filed after the legal power of granting the licence has been conferred and the agreement to change the legal form of a savings and credit cooperative to a public limited liability company. The legal effects of granting the licence shall take place on the date on which the change in the legal form of the savings and credit cooperative is registered with the public limited liability company.

§ 4b

(1) A person with a head office in a Member State other than a Member State that fulfils the criteria laid down in Article 4 (1) (1) of Regulation (EU) No 575 / 2013 of the European Parliament and of the Council may, in the territory of the Czech Republic, carry out the lending activity referred to in § 1 (1) (b) or the provision of guarantees and commitments pursuant to § 1 (3) (e) if the activity is carried out through a branch established in the Czech Republic and the Czech National Bank grants it a licence for that activity.

(2) A person with a real head office in a Member State other than a Member State may carry out a deposit-taking activity in the territory of the Czech Republic in accordance with Paragraph 1 (1) (a) if the activity is carried out through a branch established in the Czech Republic and the Czech National Bank grants it a licence for that activity.

(3) The person referred to in paragraph 1 or 2 may carry out other activities within the territory of the Czech Republic in accordance with Paragraph 1 (3) if he / she is authorised in a licence granted by the Czech National Bank under § 4f and performs it through a branch established in the Czech Republic.

§ 4c

(1) A person pursuant to § 4b may operate in the territory of the Czech Republic pursuant to § 1 (1) and § 1 (3) (e) without a licence granted by the Czech National Bank only if the counterparty has its registered office in a Member State and is:

(a) an eligible counterparty under the law governing business on the capital market, a professional client under the law governing business on the capital market or a customer who is not a professional client under the law governing business on the capital market, provided that the activity or service is provided solely on the sole initiative of such counterparty;

(b) a credit institution; or

(2) The exercise of an activity or provision of services pursuant to § 1 (1) and § 1 (3) (e) without a licence granted by the Czech National Bank on the basis of the counterparty's own initiative pursuant to paragraph 1 (a) only authorises the person referred to in § 4b to carry out the activity or supply of services on the basis of the counterparty's own initiative and the activities or services required for that exercise or provision of services.

(3) Where a counterparty or potential counterparty is contacted by a person under Paragraph 4b or a person having close links with a person under Paragraph 4b, it shall not be an activity or service provided solely on the basis of the counterparty's own initiative under paragraph 1 (a).

§ 4d

If a person pursuant to § 4b in the territory of the Czech Republic carries on activities under § 4b (1) or (2) in direct connection with an investment service under the law governing business on the capital market, this law shall not apply.

§ 4e

(1) The person pursuant to § 4b applies for a licence to the Czech National Bank.

(2) The application for a licence referred to in paragraph 1 shall contain, in addition to the formalities laid down in the administrative rules, information on compliance with the conditions for granting the licence pursuant to Article 4f (2). The application may only be submitted electronically.

(3) The licence application referred to in paragraph 1 shall include:

(a) a plan of the activities it intends to carry out through the branch;

(b) information on the organisational structure of the branch; and

(4) The details of the details of the application and annexes referred to in paragraph 3, the format and other technical details shall be laid down by the Czech National Bank by decree.

§ 4f

(1) The Czech National Bank decides on the granting of the licence under § 4e (1).

(2) The following conditions shall be met for the granting of the licence:

(a) requirements under § 12ab to 12ag;

(b) a person under Article 4b has been authorised and supervised for the pursuit of an activity which he intends to pursue in the territory of the Czech Republic in the State of his registered office,

(c) the person referred to in § 4b has informed the supervisory authority in the State of his registered office of his intention to operate in the Czech Republic through his branch and provided him with information and documents pursuant to § 4e (3);

(d) the competent supervisory authority of the person referred to in § 4b has made available to the Czech National Bank all information about the person necessary for the purposes of the supervision of its branch;

(e) the legal order of the State of residence of the person referred to in Article 4b does not provide for any impediment to the Czech National Bank being able to effectively coordinate its supervisory activities with that person's competent supervisory authority in a non-Member State, in particular during a period of crisis or financial difficulties of that person or group of which it is part, or difficulties in the financial system of a non-Member State;

(f) Neither the Financial Analytical Office on the basis of its supervisory activities nor the Czech National Bank have any reasonable suspicion that a branch set up by a person under § 4b in the Czech Republic is used to legalise the proceeds of crime or terrorist financing;

(g) the main person or group of persons complies with the prudential requirements applicable to them under legislation other than the Member State and it is not reasonable to suspect that they do not meet those requirements or infringe them within 12 months of the date of issue of the licence.

(3) Before granting the licence, the Czech National Bank will request an opinion from the Financial Analysis Office to evaluate compliance with the condition laid down in paragraph 2 (f). The Financial Analytical Office shall deliver an opinion within 30 days of the date of receipt of the Czech National Bank's request. In the statement of reasons, the Financial Analysis Office shall state only in general terms the facts on which the opinion was given. If the Financial Analysis Office does not deliver an opinion within the time limit, the Financial Analysis Office shall be deemed not to have reasonable grounds to suspect that a branch established by a person pursuant to § 4b in the Czech Republic is used to legalise the proceeds of crime or terrorist financing.

(4) In the decision granting the licence, the Czech National Bank provides that a foreign bank from a Member State other than a Member State may carry out authorised activities only within the territory of the Czech Republic and may not carry out authorised activities in other Member States on a cross-border basis, except:

(a) services provided exclusively on the basis of the counterparty's own initiative; or

(b) intra-group financing between branches of the same principal.

§ 5

The Czech National Bank shall endeavour to conclude a cooperation agreement with the competent supervisory authority of the non-Member State in the field of cross-border supervision of the branch before the date of the start of the operation of a foreign bank from a non-Member State in the Czech Republic. In addition, the Czech National Bank uses the model cooperation agreements drawn up by the European Banking Authority (19) pursuant to Article 33 (5) of Regulation (EU) No 1093 / 2010 of the European Parliament and of the Council.

§ 5a

(1) Foreign banks from Member States may, through their branches, carry out activities under this Act without a licence in the territory of the Czech Republic, provided that they have been authorised to exercise them in the country of their registered office and that the foreign bank from the Member State has complied with the procedure laid down in Sections 5c to 5m. Furthermore, foreign banks from Member States are entitled, under the same conditions, to carry out these activities even without the establishment of a branch, provided that their operation does not constitute a permanent economic activity.

(2) The provisions of paragraph 1 shall not apply where foreign banks which do not enjoy the benefits of a single licence under European Union law or of foreign banks having their registered office in a State which does not enjoy the benefits of a single licence under European Union law.

(3) With the exception of § 3 (3) (b), § 5a, 5n, 10, § 11 (1) to (6) and (9), § 20b, 21, § 24 (2), third sentence, § 26bb, 37, the obligation to provide data pursuant to § 38 (2) to (9), provisions relating to the conduct of monetary policy and the correct settlement of banks (§ 20c), § 38a and 41m shall not apply to the activities of branches of foreign banks from a Member State.

(4) If a branch of a foreign bank from a Member State becomes a participant in a payment system operated by the Czech National Bank, the legislation governing the operation of that system shall apply to a foreign bank from a Member State. If a branch of a foreign bank from a Member State makes use of the option provided for in Paragraph 38a (1), it shall apply to a foreign bank from a Member State of § 38a.

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Regulation Information

Citation	Act No. 21 / 1992 Coll., on Banks
Regulation Type	-
Author	-
Collection	Code of Laws

Date of Promulgation	20.01.1992
Effective from	01.02.1992
Effective until	-
Status	Valid

The regulation text is for informational purposes only.