Czech National Bank measure No. 21 / 1994 Coll.
Measures by the Czech National Bank laying down the conditions for certain foreign exchange transactions carried out by persons other than banks
Valid
21
MEASURES
Czech National Banks
of 3 January 1994
laying down the conditions for the execution of certain foreign exchange transactions by persons other than banks
The Czech National Bank provides for the Czech National Council Act No. 6 / 1993 Coll., on the Czech National Bank:
GENERAL PROVISIONS
This measure provides:
(a) Valut sale, 1)
(b) the purchase back of Czech currency from foreign exchange foreigners.
SALE VALUT
(1) Valut sale means the sale of Valutes for the Czech currency to foreign exchange residents - natural persons (m2) (hereinafter referred to as Valut sales) by persons other than banks.3)
(2) For the purposes of Part Two of this measure, non-banks are legal persons, 4) to whom a foreign exchange permit has been issued under a special law. 5)
Application for an exchange permit
(1) The foreign exchange permit for sale is issued by the Czech National Bank, on written request, to legal persons carrying out an exchange activity on the basis of a concession note issued by the competent trade authority (6) (hereinafter referred to as "entrepreneurs").
(2) The application for a foreign exchange permit for sale of Valut shall contain the following particulars:
(a) the name and registered office of the entrepreneur;
(b) the characteristics of the activity it deals with;
(c) the reasons for the request;
(d) the addresses of the business premises where they carry out the exchange activity and where they intend to sell the fleet,
(e) a copy of the extract from the Commercial Register or a document proving the creation of a legal person where that legal person is not registered;
(f) a copy of the valid concession instrument to carry out the exchange activities;
(g) details of the purchase of valutes expressed in Czech currency in at least the last three months before the application.
(3) The application shall be submitted to the branch of the Czech National Bank responsible locally for the business.
Entrepreneurs demonstrate at the invitation of the Czech National Bank branch with their accounting documents for the proper performance of the exchange activities over a period of at least the last three months until the request for sale. This is not the case if a legal person has been established by a natural person - an entrepreneur who has properly operated the exchange activity on the basis of a concession note for at least three months before the legal person is established and has not been able to break the exchange activity and will continue to be carried out at the premises agreed by the Czech National Bank.
Obligations in carrying out the sale of valutes
(1) Entrepreneurs may sell valuables which they acquire in the course of their own exchange activities.
(2) When selling Valutes listed in foreign exchange market rates declared by the Czech National Bank, entrepreneurs are required to comply with the scope declared by the Czech National Bank under the Act. 7) This does not apply to the sale of Valutes not included in foreign exchange market rates.
Valut sales are based on an agreed Valut Sales Course.
The price can be charged for the services provided (8) in Czech crowns, which is determined by the percentage of the exchange rate value and can be determined by the entrepreneur of the minimum and maximum price.
Valut sales rates and prices charged for the services provided must be published at an establishment in such a place and in such a way that the client is clearly and unequivocally informed of these facts prior to the sale of valutes.
(1) The sale of Valutes listed in foreign exchange market rates may take place on presentation of a valid travel document.
(2) On the basis of the records in the travel document, sales may be made up to the amount of the outstanding balance of the scope referred to in Section 5 (2).
(3) The trader is obliged to enter the travel document on the sale of Valut, 9) which contains:
(a) exchange rate value in Czech currency,
(b) identification marks of the establishment, date and place of issue.
(4) For the sale of the Valut, the entrepreneur shall draw up a numbered form - the deduction of the sale or the corresponding proof of the processed computer (hereinafter referred to as the "sale deduction '), which shall contain the following particulars:
(a) the passport number, the name, surname and birth number of the client, if indicated on the passport;
(b) the designation of the currency sold by ISO code, its quantity, the sales rate,
(c) exchange rate value,
(d) the price of the service;
(e) the amount to be paid;
(f) identification marks of the establishment, 10) date and place of issue.
(5) One copy of the sale deduction remains always in the business register, the other is received by the client. In the case of manual processing, the original sales deduction shall remain in the register. 11)
(6) When making a cancellation, the sale deduction shall be marked on the original and the copy shall be marked with the word "cancellation," followed by the identification marks of the establishment, date and place of issue. The deduction is included in the other deductions in the number series.
(7) All data on forms and documents must be recorded completely, demonstrably and correctly. 12)
(8) Corrections made in sales deductions and in other forms and documents used in the sale of valutes must not lead to incompleteness, inconclusive and incorrect accounting. 13)
(1) On sale, the routines shall be kept on a continuous basis for each establishment, where more than one enterprise has been set up, a separate value book or a value log or corresponding documents - computer-based assemblies (hereinafter referred to as the "value book '). The value book shall record all sales made. These records shall be consistent with the sales deductions.
(2) Quantification of the aggregate amounts of each species sold - the closing date is daily.
(1) The value not sold is subject to a bidding obligation (hereinafter referred to as "levy") under a special law. 14) The payment is made at the dates agreed with the foreign exchange bank before the start of the exchange operation. 15)
(2) The value may be held up to a maximum of the average daily sales over the period of the last seven days prior to the foreign exchange bank's payment, following the payment of the value. This amount may be exceeded by a maximum of 10%.
(1) Entrepreneurs shall notify without delay to the branch of the Czech National Bank which issued the foreign exchange permit for sale of the Valut, any changes to the data in the foreign exchange permit and the documents provided for in the application.
(2) If an entrepreneur intends to sell valuables in other than the approved establishments until then, he will notify the Czech National Bank branch in advance.
(3) On the basis of the notification referred to in paragraphs 1 and 2, the Czech National Bank branch shall decide to change the foreign exchange permit, suspend the sale of valutions or revoke the foreign exchange permit.
RESEARCH PURCHASE OF THE CZECH MONETARY FROM FOREIGN INSTRUMENTS
(1) By buying back the Czech currency from foreign exchange foreigners, it is the purchase of the Czech currency acquired by foreign exchange foreigners by selling foreign exchange funds (Valut and foreign exchange - cheques) and owns a deduction on such sale on the exchange or purchase of valuables - foreign exchange (hereinafter referred to as "the purchase deduction '). 16)
(2) The repurchase of the Czech currency from foreign exchange residents referred to in paragraph 1 (hereinafter referred to as "repurchase ') shall take place under this Part of the measure by persons other than banks. 3)
(3) For the purposes of Part Three of this measure, persons other than banks are foreign exchange residents to whom a foreign exchange permit has been issued under a special law. 5)
Application for an exchange permit
(1) Upon written request, the Czech National Bank issues the foreign exchange permit for re-purchases to foreign exchange residents who are engaged in exchange activities on the basis of a concession certificate issued by the business office (6) (hereinafter referred to as "entrepreneurs").
(2) Paragraph 3 (2) (a) to (c), (e) to (g) and (d) shall apply mutatis mutandis to the details of the application for an exchange permit for repurchase.
(3) The application is submitted by a legal person according to its registered office, by a natural person according to the place of business to the relevant branch of the Czech National Bank.
After the request for re-purchase, entrepreneurs are required to demonstrate the proper execution of the exchange activities referred to in Section 4.
Obligations to carry out the purchase back
(1) Entrepreneurs may make repurchases for valuables obtained in the course of their own exchange activities.
(2) Re-purchases may be made at the value shown in foreign exchange market rates only if those currencies have been purchased from that client. In determining the type of rolling stock, the deduction on the exchange or purchase submitted by the client shall be based on.
Paragraph 6 and 7 shall apply for the determination of the Valut and Price (8).
Section 8 applies to the publication of the Valut and Price Sales Course.
(1) Re-purchases can only be made if the acquisition of the Czech currency is demonstrated by a purchase deduction, which contains all the elements and was issued by a foreign exchange bank, bank or entrepreneur. 17)
(2) The entrepreneur may make the buy-back up to a maximum of the amount to be paid as indicated in the purchase deduction.
(3) The purchase of the Czech currency is subject to a sale deduction, which is always numbered and contains the following elements:
(a) the number of the client's passport and the country of issue or, exceptionally, his name and surname which have been verified on the valid identity card submitted by the client;
(b) the type of identity card, its number and the country of issue, if no passport has been issued;
(c) registration - re-purchase of Czech currency,
(d) other elements referred to in § 9 (4) (b) to (f).
(3) Paragraph 9 (5) shall apply mutatis mutandis to the production of the sales deduction, with the addition of the sales deduction left in the business register.
(4) Paragraph 9 (6) to (8) shall apply mutatis mutandis to the recording of data, the implementation of cancellations and repairs.
Paragraph 10, 11 and 12 shall apply mutatis mutandis to the implementation of levies, the quantification of the aggregate amounts of each species of waffle, the keeping of a separate value book for repurchase and notification of changes.
BANKING SURVEILLANCE
Bank supervision of the sale of Valutes and the repurchase of Valutes is carried out by the Czech National Bank. 18)
FINAL PROVISIONS
The measure of the Czechoslovak State Bank of 9 September 1992 laying down the conditions for certain foreign exchange transactions carried out by persons other than banks, published in the amount of 94 / 1992 Coll.
This measure shall take effect on the day of its publication.
Governor:
Ing. Tošovský v. r.
1) Paragraph 1 (2) of Foreign Exchange Act No. 528 / 1990 Coll., as amended by Act No. 228 / 1992 Coll. (full version No. 457 / 1992 Coll.).
2) Section 5 of the Foreign Exchange Act.
3) Act No. 21 / 1992 Coll., on Banks.
4) Article 18 of Act No. 40 / 1964 Coll., Civil Code, as amended (full version No. 47 / 1992 Coll.).
5) Paragraph 7 (3) of the Foreign Exchange Act.
6) Act No. 455 / 1991 Coll., on Business Business (Trade Act), as amended.
7) Paragraph 21 of the Foreign Exchange Act.
8) § 2 paragraphs 1 and 2 of Act No. 526 / 1990 Coll., on Prices.
9) Article I of Decree No. 267 / 1993 Coll., amending and supplementing Government Decree No. 512 / 1991 Coll., implementing Act No. 216 / 1991 Coll., on travel documents and travel abroad.
10) § 6 paragraph 1 of the Czech National Bank measure No. 20 / 1994 Coll.
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) Sections 11 and 12 of the Foreign Exchange Act.
15) § 16 of the Czech National Bank measure No. 20 / 1994 Coll.
16) § 10 of the Czech National Bank measure No. 20 / 1994 Coll.
17) § 1 of the Czech National Bank measure No. 20 / 1994 Coll.
18) § 44 to 46 of ČNR Act No. 6 / 1993 Coll., on the Czech National Bank.
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Regulation Information
| Citation | Measure České národní banka č. 21 / 1994 Coll., laying down the conditions for carrying out certain foreign exchange transactions carried out by persons other than banks |
|---|---|
| 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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