Act No. 210 / 1993 Coll.
Act amending and supplementing Act No. 92 / 1991 Coll., on the Conditions for the Transfer of State Assets to Other Persons, as amended by Act No. 92 / 1992 Coll., Act No. 264 / 1992 Coll., Act No. 541 / 1992 Coll. and Act No. 544 / 1992 Coll., Act No. 171 / 1991 Coll., on the Jurisdiction of the Authorities of the Czech Republic in the Transfers of State Assets to Other Persons and on the National Property Fund of the Czech Republic, Act No. 285 / 1991 Coll., Act No. 438 / 1991 Coll., Act No. 282 / 1992 Coll., and amending Act No. 265 / 1992 Coll., on the Laws of Owned and Other Property Rights
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Effective from 13.08.1993
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210
THE LAW
of 8 July 1993
amending and supplementing Act No. 92 / 1991 Coll., on the Conditions for the Transfer of State Assets to Other Persons, as amended by Act No. 92 / 1992 Coll., Act No. 264 / 1992 Coll., Act No. 541 / 1992 Coll. and Act No. 544 / 1992 Coll., Act No. 171 / 1991 Coll., on the Jurisdiction of the Czech National Council, Act No. 569 / 1991 Coll. on the Transfers of State Assets to Other Persons and on the National Property Fund of the Czech Republic, as amended by Act No. 265 / 1992 Coll., on the Laws of the Czech National Council No. 438 / 1991 Coll., Act No. 282 / 1992 Coll., and amending Act No. 265 / 1992 Coll.
Parliament has decided on this law of the Czech Republic:
Act No. 92 / 1991 Coll., on the Conditions for Transfer of State Assets to Other Persons, as amended by Act No. 92 / 1992 Coll., Act No. 264 / 1992 Coll., Act No. 541 / 1992 Coll. and Act No. 544 / 1992 Coll., is amended as follows:
1. In Paragraph 1 (1), the words "state insurance undertakings' are deleted, the word" Czechoslovak 'is replaced by the word "Czech' and after the words" (hereinafter referred to as the undertaking) 'the words "or which is in the administration of the Land Fund of the Czech Republic' are inserted.
2. footnote 4 shall read:
"4) Act ČNR No. 500 / 1990 Coll., on the jurisdiction of the authorities of the Czech Republic in matters of transfers of ownership of the State to other legal or natural persons, as amended by Act No. 438 / 1991 Coll., Act No. 282 / 1992 Coll., Act No. 473 / 1992 Coll. and Act No. 170 / 1993 Coll. '.
3.
Decision on privatisation and privatisation projects
The transfer of assets under this Act shall be carried out in accordance with a decision on the privatisation of an undertaking or part thereof, or under a decision on privatisation of the State's holding in the business of another legal entity ("privatisation decision '), issued on the basis of a draft privatisation project.'
4. in Article 6 (1), points (i) and (k) are deleted. Point (j) shall be renumbered (i), the words "Federal Office of Inventions' shall be deleted and replaced by" Industrial Property Office '.
5. Paragraph 6 (2) is deleted. Paragraph 3 shall become paragraph 2.
6.
"(1) For companies for which proposals for privatisation projects were submitted after 29 February 1992, the founder shall ensure that the environmental commitments of the company are assessed by the Ministry of the Environment. This evaluation shall be forwarded by the founder to the Ministry of National Property Management and its privatisation (hereinafter referred to as" the Ministry ') prior to the privatisation decision.'
7. In Article 7, paragraph 3 is replaced by a semicolon at the end of the sentence and the words "the Ministry may apply mutatis mutandis to the founder."
Paragraph 4 shall read as follows:
"(4) Time limits for submission of proposals for privatisation projects are laid down by the Ministry."
8. In Article 7 (5), the words "(j) and, depending on the nature of the cases, the particulars referred to in (i) and (d) of paragraph 2 'are replaced by the words" and (i)'; After the last sentence of paragraph 5, the following sentence is added: "The obligation to disclose the data shall be incumbent on the undertaking only as long as the time limit for the submission of proposals for privatisation projects on its assets runs, after which period the founder may impose on the undertaking further synergies in the provision of information related to privatisation. '
9. Paragraph 8 (1) reads as follows:
"(1) The Founder shall examine all proposals submitted for privatisation projects and submit them with his opinion to the Ministry within the deadline specified by the Ministry. ';
10. paragraph 1 shall be deleted in Paragraph 9. In paragraph 2, the words "proposals' and the words" or the Government of the Slovak Republic (hereinafter referred to as the Government of the Republics) 'shall be inserted after the words "drawing up' and the words" or the Government of the Republic of Slovakia (hereinafter referred to as the Government of the Republic) and submitted to the Ministry 'shall be replaced by the words "(hereinafter referred to as the Government)'. Paragraphs 2, 3 and 4 shall be renumbered paragraphs 1, 2 and 3.
11.
Decision on privatisation
(1) The decision on privatisation by direct sale outside the tender or public auction is taken by the Government on a proposal from the Ministry. The government may reserve a decision on privatisation in other matters.
(2) The privatisation decision not referred to in paragraph 1 shall be issued by the Ministry.
(3) Decisions on privatisation are not subject to general administrative provisions. This decision shall not be subject to review by a court.
(4) The privatisation decision shall be non-public and shall take into account all privatisation projects submitted for the property or participation in the business of another legal person within the specified time limit. The privatisation decision shall be in writing and shall be delivered to the processor of the privatisation project selected for implementation by that decision. The processors of other privatisation projects covered by this Decision must be informed in writing of the method of privatisation and that their privatisation project has not been selected for implementation by the privatisation decision.
(5) The privatisation decision may also cover part of the assets covered by the privatisation project proposal.
(6) The authority responsible for deciding on privatisation may change the conditions, scope and method of privatisation contained in the draft privatisation project by decision on privatisation.
(7) The privatisation decision may only be amended by the authority responsible for issuing it where, after the decision has been taken, the relevant facts, which were not known at the time of the privatisation decision, have a significant impact on the original privatisation decision.
(8) According to paragraph 7, only until the transfer of the privatized assets to the National Property Fund of the Czech Republic (hereinafter referred to as "the Fund") can be carried out. '
12. The following Section 10a is inserted after Section 10:
(1) The privatisation decision contains:
(a) identification of the project;
(b) the designation of the approved privatisation method;
(c) the book value of the assets of each separate privatized unit corresponding to the privatisation project which was intended to be implemented by this Decision;
(d) in the case of the existence of assets not usable for business purposes, its accounting value after deduction of any proceeds from its execution and the way in which it is disposed of;
(e) where applicable, the fact that the transfer of privatised assets involves the creation of a new commitment by the acquirer, indicating its scope and penalties for its failure to comply;
(f) the possible fact that the privatisation project or part thereof will be implemented by the Land Fund of the Czech Republic;
(g) the possibility that multi-purpose warehouses and civil protection assets are transferred free of charge under the privatisation project;
(h) the possibility that the Fund will conclude, on the basis of a government decision, a contract with the acquirer to cover the costs incurred in settling the environmental liabilities incurred before privatisation;
(i) any other conditions for the implementation of the privatisation project.
(2) The privatisation decision shall include, in addition to the elements referred to in paragraph 1, the direct sale to the pre-designated acquirer of:
(a) the acquirer of the privatized property, indicating his identification or birth number;
(b) the method for determining the purchase price; where the purchase price is fixed by agreement, the absolute amount shall be indicated;
(c) the payment terms, including their collateral.
(3) The decision on privatisation shall contain, in addition to the elements referred to in paragraph 1:
(a) the conditions of the tender and the criteria for assessing their compliance;
(b) the definition of the competition.
(4) The privatisation decision by the transfer of the privatized assets to a trading company followed by the privatisation of its shares or shares and the privatisation decision includes the State's shareholding in addition to the requirements referred to in paragraph 1.
(a) the method of privatization of shares (shares) expressed as a percentage of each method of privatisation of shares (shares) or, where appropriate, of percentages sold to individual buyers;
(b) the possible existence of shares with special rights;
(c) a possible change in the proposal to fill the company's bodies;
(d) on the sale of shares (share) at the agreed purchase price, the price of one share (share) or the agreed total price.
(5) The annex to the privatisation project selected by the privatisation decision for implementation is the inventory of real estate according to the data of the Czech Real Estate Registry. (c)
(6) In the case of a privatisation project by participation, the Fund may be ordered to sell or, where appropriate, to issue assets to a person authorised under special rules. (2) This Decision shall ensure that the Fund exercises the rights of the shareholder. 4d) '.
13. footnotes 4c and 4d are as follows:
"4c) § 5 of ČNR Act No. 344 / 1992 Coll., on the cadastral property of the Czech Republic (cadastral law).
"4d) § 187 of Act No. 513 / 1991 Coll., Commercial Code, as amended by Act No. 264 / 1992 Coll. and Act No. 591 / 1992 Coll. '.
14. The heading of Part Three reads:
TRANSPORT OF PRIVATED PROPERTY FOR THE NATIONAL PROPERTY OF THE CZECH REPUBLIC AND USE OF IT '.
15.
(1) In accordance with the privatisation decision, the founder shall cancel the firm without liquidation or remove part of the assets of the firm on the date specified by the Fund.
(2) The date on which the company is wound up or the date on which part of the company's assets are set aside shall be transferred to the Fund.
(3) Before the company is wound up or the date on which part of the assets of the company are set aside, the undertaking shall dispose of the property which is not eligible for business purposes [Paragraph 6 (1) (c)] under the privatisation decision, unless it is taken into account in the determination of the purchase price under this Decision.
(4) The founder shall not exclude part of the assets of an undertaking which constitutes or is associated with industrial or other intellectual property rights [Paragraph 6 (1) (i)]. Such rights and assets shall be transferred by the undertaking by contract to the acquirer of the privatized assets.
(5) In accordance with the decision on the privatisation of shareholdings in the business of other legal entities, the public authorities and the municipality shall transfer those holdings to the Fund at the date specified by the Fund. ';
16. in Article 12 (1), the words "and the funds of the Republics (hereinafter referred to as the Funds)" shall be deleted and the words "State budgets" shall be replaced by the words "State budget." In paragraph 2, the word "funds' is replaced by the word" Fund 'and the words "approved privatisation projects' are replaced by the words" privatisation decisions, in particular '. Paragraph 3 shall be deleted. In paragraphs 4 and 5, the word "Funds' is replaced by the word" Fund 'and these paragraphs are renumbered as paragraphs 3 and 4.
17) footnotes 5) and 5a) read:
"5) Act No. 513 / 1991 Coll., as amended.
5a) Act ČNR No. 569 / 1991 Coll., on the Land Fund of the Czech Republic. "
footnote 6) is deleted.
18. § 13 is released.
19. in Paragraph 14 (1), the words "implementing funds" shall be replaced by the words "implementing the Fund";
20. In Paragraph 14 (2), the word "capital 'is replaced by" capital' and the words "funds' are replaced by" Fund '. At the end of the first sentence, the dot is replaced by a comma and the following words are added: "and with derogations provided for by this law'. The second sentence is deleted.
21. In Paragraph 15 (3), the comma is replaced by a dot after the word "creditor" and the rest of the sentence is deleted.
22. footnote 7 shall read:
"7) Act No. 40 / 1964 Coll., Civil Code, as amended. '
23. In Article 17, the following sentence is added at the end: "This shall not apply where the way in which the entitlement of the beneficiaries is settled is the issue of the case (§ 47)."
24. In Paragraph 18, "capital 'is replaced by" capital'.
25. in Article 19 (1), "Fund" is replaced by "Fund."
Article 26 (19) (3) reads as follows:
"(3) The right of ownership of privatized property shall be transferred to the transferee on the date of the contract's agreed effectiveness or, in the case of the transfer of immovable property to a trading company, on the date of the creation of the company or in the public auction by a letter of the licitator, except in cases provided for in the special regulation.8) In such cases, registration shall be made in the property register. 9)."
The following paragraphs 4 and 5 are added:
"(4) The rights of third parties to property which is the subject of sale or deposit under this Act are without prejudice to the provisions of Paragraph 45 (7).
(5) In implementing the decision on privatisation of joint ownership, the acquirer cannot apply the right of pre-sale to the Fund or the Land Fund of the Czech Republic under special regulations. 10). "
footnotes 8, 9 and 10 are as follows:
"8) Paragraph 8 (4) of Act No. 63 / 1991 Coll., on the Protection of Competition, as amended by Act No. 495 / 1992 Coll.
9) Article 7 of Act No. 265 / 1992 Coll., on the registration of property ownership and other property rights.
10) § 140 of the Civil Code. '
27. In the first sentence of Section 21, the word "Fund 'is replaced by" Fund' and the words "undertaking 'are added after the word" unless the Fund decides otherwise'. In the second sentence, "Fund 'is replaced by" Fund'.
28. The heading of Part Four reads:
TRANSFER OF PROPERTY WITH INVESTMENT BUDGET '.
29.
(1) The transfer of equity to other persons may be made for investment coupons ("coupons').
(2) For the purposes of this Act, a coupon is a name security which authorises the purchase of shares for sale for coupons.
(3) The date of issue of the investment coupon is the date on which the coupon book for the owner is registered within the deadline set by the Ministry of Finance for the numbered system of special workplaces (hereinafter referred to as the registration place). Registration points are established and published by the Ministry of Finance. A marketing authorisation made outside that period, unless otherwise provided for in this Law or in a special regulation, shall be invalid.
(4) In the event of a temporary shortage of coupon books, the Ministry of Finance shall issue replacement registration cards. The replacement registration card shall be replaced by a coupon book within the time limit set by the Ministry of Finance to claim the claim under Paragraph 24 (2).
(5) When registering a coupon book, a citizen may be represented by a natural or legal person on the basis of a written mandate with an officially certified signature of the principal.
(6) With the exception of the use of a coupon under § 24 (3) (c), the coupon is non-transferable and the rights attached to it are transferred only to the heir. Coupon cannot be killed. "
30. in Article 23 (1), the word "coupons" is replaced by "coupon books." in paragraph 2, the words "the competent authority of the State Administration of the Republic 'are replaced by the words" the Ministry of Finance';
31. in Article 23 (3), the words "the competent fund of the Republic" shall be replaced by "the Fund."
32. the following Section 23a is inserted after Section 23:
(1) Coupons are valid for 10 months from the date of their issue. This deadline may be extended by the Ministry of Finance.
(2) The date of issue of coupons is determined by the Ministry of Finance in agreement with the Ministry. '
33.
(1) Every citizen of the Czech Republic with a permanent residence in its territory has the right to purchase a coupon, which at the latest on the last day of the deadline set by the Ministry of Finance for the registration of a coupon book will complete the 18th year of its age.
(2) The total range of satisfied shares orders for one coupon holder and one privatisation wave is a maximum of 1000 investment points.
(3) Each coupon holder of the relevant issue is entitled to use investment points in the relevant privatisation wave
(a) the purchase of shares in any public limited liability company of which the Fund is a shareholder, included for that purpose in the list of shares in public limited liability companies (Section 24c (2));
(b) to purchase shares of any public limited liability company of which the Land Fund of the Czech Republic is a shareholder, included for this purpose in the list of shares of public limited liability companies (Section 24c (2)),
(c) to obtain participation in investment funds, 10a) listed for that purpose by the Ministry of Finance, or to acquire a share in the assets of the holding fund 10a) set up for the relevant privatisation wave by the investment companies (hereinafter referred to as "mutual funds") listed for that purpose by the Ministry of Finance.
(4) The methods of using the investment points referred to in paragraph 3 may be applied in parallel.
(5) By the way referred to in point (c) of paragraph 3, investment points may only be used during the period prior to the start of the privatisation wave provided for by the Ministry of Finance in an agreement with the Ministry (hereinafter referred to as the "pre-round ').
(6) Where mutual funds referred to in paragraph 3 (c) are set up as open funds, 10a) may be used by the unit-holder to re-sell the unit-sheet not earlier than one year after the share purchased for investment points to the unit-holder.
10a) Act No. 248 / 1992 Coll., on investment companies and investment funds, as amended by Act No. 591 / 1992 Coll. '
34. the following Sections 24a, 24b and 24c are inserted after Section 24, including footnote 10b:
(1) The front wheel does not form part of the privatisation wave. It cannot be initiated until a list of investment and share funds is published which can be used to transfer investment points to order shares for coupons. The pre-round cannot be completed before the publication of the list referred to in Article 24c (2).
(2) The Ministry of Finance shall enter in the list referred to in Article 24 (3) (c) an investment fund which shall provide proof that it is registered in the Commercial Register. The holding fund shall provide, in addition to the proof of registration of the investment company to which it is established in the Commercial Register, proof of the identification number assigned to it on request by the Statistical Authority. 10b)
(3) The registration place and the deadline for registration of the investment fund and the holding fund shall be determined by the Ministry of Finance.
The Ministry of Finance shall keep a central register of coupons, make a change to the registration place on request, designate a place of business for the ordering of shares (hereinafter referred to as "the mailroom '), maintain a central stock register and determine the time during which the corresponding part of the coupon note at which the order of shares is made remains with the mailroom.
(1) At the latest at the beginning of the period defined for the registration of coupon books, the Ministry will draw up and publish, for each privatisation wave, a provisional list of the undertakings and holdings of States for privatisation using investment coupons.
(2) The Ministry of Finance will publish basic information on public limited liability companies whose shares will be offered for investment coupons in the relevant privatisation wave (hereinafter referred to as "the list of shares"). The list of shares shall be based on the list referred to in paragraph 1 and may be adjusted accordingly by the Ministry of Finance prior to its publication on the basis of the actual number of coupon books registered or for other serious reasons. The list of shares will be published by the Ministry of Finance before the relevant privatisation wave begins. An update of the list of shares in terms of supply shall be published by the Ministry of Finance on completion of each round of the relevant privatisation wave.
(3) The information disclosed shall be indicative and shall not be regarded as a draft contract under the law.
10b) § 3 (1) of ČNR Act No. 278 / 1992 Coll., on State Statistics. '
Article 35 (25) reads:
(1) The privatisation wave is a period of time for which the Ministry of Finance shall determine the beginning and the end of which, in agreement with the Ministry, the holders of investment coupons may claim shares for sale for coupons.
(2) The privatisation wave is divided into privatisation bikes.
(3) The beginning and end of the privatisation rounds, the offer of shares, the exchange rates, their publication, the start and end of the privatisation round will be determined by the Ministry of Finance in agreement with the Ministry. "
36.
(1) The Ministry of Finance decides in case of doubt,
(a) whether the marketing authorisation made is valid and which of the several marketing authorisations for one coupon holder is the first;
(b) whether the ordering of shares or the transfer of investment points to an investment fund or a holding fund is carried out in the manner laid down by this law or by a special regulation.
(2) The Ministry of Finance shall be entitled to align the content of the shares' orders with the entitlement of the holder of the investment coupon if the order exceeded the claim of the holder of the investment coupon pursuant to Article 24 (2). At the same time, the Ministry of Finance will always prefer a prior order to a later order of shares. The Ministry of Finance shall decide on the validity of the specific order in the event of identical stock orders. '
37. The following Sections 26a, 26b and 26c are inserted after Section 26, including footnote 10c:
(1) Investment funds for investment points taken over from the holder of the investment coupon will purchase shares, together with other shares purchased in this way, to be used to increase the capital of the investment fund. The investment fund shall issue to the coupon holders who have passed on the investment points their shares at a total value equivalent to such increased capital. Each of these owners shall be entitled to a share of the IF at nominal value corresponding to the ratio of the number of investment points transferred by it to the total number of investment points transferred by it. The method of valuation of shares purchased for investment points shall be determined by the Ministry of Finance by a special regulation.
(2) The transfer and taking over of investment points shall give rise to a contractual relationship between the coupon holder and the investment fund, the content of which shall be the reciprocal rights and obligations referred to in paragraph 1.
(3) Equity funds for investment points taken from investment coupon holders buy shares which are the common property of coupon holders. The method of valuation of shares purchased for investment points shall be determined by the Ministry of Finance by a special regulation. The mutual fund shall issue to the holders of coupons who have given them investment points units with a total nominal value corresponding to the value of the common assets. Each of these owners shall be entitled to share certificates at nominal value corresponding to the ratio of the number of investment points transferred by him to the total number of investment points transferred to that fund. Paragraph 2 shall apply mutatis mutandis.
(4
(1) The Ministry of Finance sets out, on the basis of the results of the central evaluation of orders which can be satisfied from orders submitted under one privatisation round and which cannot be satisfied.
(2) All share orders will be satisfied if, in the relevant privatisation round, the aggregate demand for such shares does not exceed their aggregate bid.
(3) Stock orders will not be satisfied in the relevant privatisation round if the aggregate demand for such shares exceeds their aggregate bid by more than 25%.
(4) If, in the relevant privatisation round, the aggregate demand for shares exceeded their aggregate supply but not by more than 25%, the Ministry of Finance may provide that the orders applied by the investment and share funds are partially satisfied, in proportion to the range of orders applied by each investment and share funds. The investment points corresponding to this reduction may be used by the investment fund or holding fund in other privatisation rounds.
(5) If the shares' orders cannot be satisfied in accordance with paragraphs 2 and 4, the Ministry of Finance shall provide that none of such orders will be satisfied and shall, if not the last privatisation round, offer them again in the subsequent privatisation round.
(6) Investment points from orders not satisfied in the relevant privatisation round are considered unused, if not the last privatisation round.
(1) At the last stage of each privatisation round, the Ministry of Finance shall ensure that the registration post has complete information on the number of shares ordered by the holders of investment coupons registered at that registration point in that privatisation round.
(2) At the last stage of each privatisation round, the Ministry of Finance shall publish in the case of which shares the orders under that round could be satisfied and in which shares could not be satisfied.
(3) Depending on the development of supply and demand for shares of individual public limited-liability companies or on other important facts, the Ministry of Finance may decide, in agreement with the Ministry, to terminate the sale or to reduce the offer of such shares within the relevant privatisation round. This Decision shall be published by the Ministry of Finance.
(4) Within one month of the end of the privatisation wave, the Ministry of Finance shall notify in writing to each owner of the investment coupon which its orders have been satisfied during the entire privatisation wave. At the same time, in this report, it shall notify them of the time and manner in which the shares will be transferred to them.
(5) The investment fund shall, within one month of the transfer of the shares referred to in paragraph 4, notify in writing to the holders of the investment coupons who entrusted it with ordering the shares in advance the number and nominal value of their shares to which they are entitled. At the same time, they shall notify them of the time limit and how the shares will be issued to them.
(6) The provisions of paragraph 5 apply mutatis mutandis to mutual funds.
(7) The Ministry of Finance shall be entitled to proceed mutatis mutandis in accordance with paragraph 4 if the sale of shares of an individual public limited company has been terminated during the privatisation wave.
10c) Sections 13 and 19 of the ČNR Act No. 591 / 1992 Coll., on securities, as amended. '
Paragraph 38 (41) and (42) shall be deleted.
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Regulation Information
| Citation | Act No. 210 / 1993 Coll., amending and supplementing Act No. 92 / 1991 Coll., on the Conditions for the Transfer of State Property to Other Persons, as amended by Act No. 92 / 1992 Coll., Act No. 264 / 1992 Coll., Act No. 541 / 1992 Coll. and Act No. 544 / 1992 Coll., Act No. 171 / 1991 Coll., on the Jurisdiction of the Bodies of the Czech Republic in the Transfers of State Property to Other Persons and on the National Property Fund of the Czech Republic, as amended by Act No. 265 / 1991 Coll., Act No. 438 / 1991 Coll., Act No. 569 / 1991 Coll., and Act No. 265 / 1992 Coll., on the Statements of Property and Other Property Rights of the Czech National Council, Act No. 438 / 1991 Coll. |
|---|---|
| Regulation Type | - |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 13.08.1993 |
|---|---|
| Effective from | 13.08.1993 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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