Decree No. 224 / 2010 Coll.
Decree amending Decree No. 269 / 2004 Coll., on the formalities and annexes of applications under Act No. 189 / 2004 Coll., on collective investment
Valid
Order
Effective from 01.08.2010
Text versions:
01.08.2010
23.07.2010
224
DECLARATION
of 30 June 2010
amending Decree No. 269 / 2004 Coll., on the formalities and annexes of applications under Act No. 189 / 2004 Coll., on collective investment
Pursuant to § 139 (i) of Act No. 189 / 2004 Coll., on Collective Investment, as amended by Act No. 296 / 2007 Coll., for the implementation of § 58 (3), § 61, § 63 (2), § 65, § 66 (3), § 67 (2), § 68 (2), § 71 (4), § 72 (2), § 96 (2), § 100 (3) and § 101 (3) of this Act:
Decree No. 269 / 2004 Coll., on the formalities and annexes of applications under Act No. 189 / 2004 Coll., on collective investment, is amended as follows:
1. in Article 2 (2) (a), the words "an extract from the Register of Penalties which is not more than 3 months old; a foreign natural person shall also submit a document of a similar nature issued by a competent authority in the State of residence, in the State of which he is a national citizen, unless he is the same as the State of permanent residence, as well as in the States in which this" is replaced by "a document equivalent to an extract from the Register of Penalties not earlier than 3 months issued by a foreign State of which the natural person is a citizen, as well as by a foreign State in which he is a natural '.
2. in Paragraph 2 (2), point (b), including footnote 3, shall be deleted;
Points (c) to (i) shall be renumbered (b) to (h).
3. In Article 2 (2) (d), the words "or the insolvency application for the debtor's lack of assets has been rejected or a decision on bankruptcy has been given in respect of the person under consideration."
4. In Article 2 (3), the word "supervision 'is replaced by the word" supervision' at all three locations, the word "supervision 'is replaced by the word" supervision' and the words "Securities Commission (" Commission ')' are replaced by the words "Czech National Bank '.
5. Paragraph 3 (5) is deleted.
Paragraphs 6 to 11 shall be renumbered paragraphs 5 to 10.
6. In Paragraph 3 (6), the second sentence is replaced by the following: "This does not apply to a public instrument issued by the administration of a foreign State with which the Czech National Bank has a cooperation agreement; the list of these authorities shall be published by the Czech National Bank in a way that allows remote access. ';
7. In Paragraph 3 (8), the word "Commission 'is replaced by the words" Czech National Bank'.
8. in Paragraph 4 (1), the following point (a) is inserted:
"(a) the design of an investment company's trading firm,"
Points (a) to (c) shall be renumbered (b) to (d).
9. in Article 4 (1) (b), the words "net commercial assets" are replaced by the words "equity capital."
10. in Article 5 (1) (f), the words "including graphically illustrated relationships between such persons" shall be inserted after the words "qualifying participation in investment firms."
11. in Article 5 (1) (g), "supervision" is replaced by "supervision."
12. in Article 5 (1) (h), including footnote 8a,
"(h) the business plan actually intended and realistic for the first three years of activity, within the scope of the financial statements data under another legislative act (8a), together with a comment on its individual items, which in particular contains the basic bases on which the business plan is based,
8a) Act No. 563 / 1991 Coll., on Accounting, as amended. '
13. in Article 5 (1) (j), the word "Regulation" is replaced by the word "Regulation 8b)."
Footnote 8b:
"8b) Paragraph 74 (1) of Act No. 189 / 2004 Coll., on Collective Investment, as amended. Decree No. 347 / 2004 Coll., on how the rules of prudent business and the rules of the organisation of the internal operation of the investment company and the investment fund are implemented. '
14. in Article 5 (3) (b), the words "including his written promise to carry out the activities of the depositary" shall be inserted after the word "depositary."
15. in Article 7 (1) (e), the words "or, where appropriate, provide services under Article 15 (3) and (4) of the Act," shall be inserted after the word "by investing."
16. in Article 8, the following point (e) is inserted after point (d):
"(e) indication (5) of an investment company which will manage the assets of an investment fund in the case of an application for authorisation to operate an investment fund whose assets will be managed by an investment company;"
Points (e) and (f) shall be renumbered as points (f) and (g).
17. in Article 9 (e), the words "including graphically illustrated relationships between these persons" shall be inserted after the words "participation in the investment fund."
18. in Article 9 (f), the word "supervision" is replaced by "supervision."
19. in § 9 (g):
"(g) the investment fund's actual business plan intended and realistic for the first three years of activity, in the scope of the financial statements data under another legislative act (8a), together with a comment on its individual items, which shall in particular contain the basic bases on which the business plan is based."
20. in Article 9 (i), the word "Regulation" is replaced by "Regulation 8b)."
21. in Paragraph 9 (k), the words "together with the depositary's written promise to conclude this contract" shall be inserted after the word "contract."
22. in Article 9, point (l) is deleted;
Points (m) and (n) shall be renumbered as points (l) and (m).
23. The following Section 9a is inserted after Section 9, including the title:
Annexes to the application for authorisation to operate an investment fund whose assets will be managed by an investment company
(K § 65 of the Act)
The application referred to in Article 8 shall be accompanied by:
(a) the Annexes referred to in Article 9 (a) to (c), (j), (k);
(b) a contract for the management of the assets of an investment fund, concluded pursuant to Article 17 of the Act, or a draft of that agreement, together with the written promise of the investment company to conclude that contract;
(c) an investment firm's business plan covering a brief description of the strategy for the following 3 years;
(d) an investment fund's actual intended and realistic business plan for the first three years of its activity, within the scope of the financial statements data under another legal act (8a), together with a comment on its individual items, which in particular contains the basic bases on which the business plan is based;
(e) a list of the managers of the IF with details of those persons, specifying their functions and indicating the powers associated with those functions;
(f) the confirmation by the investment company that the investment fund's assets will have the knowledge, experience and credibility required to manage the investment fund;
(g) a list of persons having qualifying holdings in the IF, including graphically illustrated relationships between such persons, with details of such persons;
(h) a list of persons closely linked to the IF, including data on such persons; and
(i) evidence of compliance with the investment firm's material, personnel and organisational assumptions for the management of the investment fund, mutatis mutandis, in accordance with Articles 5 (1) (i) to (k) and 5 (2) and (3). ";
24. in Article 11 (d), the words "or supervisory authority or as a person entitled to act as a legal person on a different basis" shall be inserted after the word "authority."
25. in Article 13 (1) (e), the words "or the value of the property" shall be inserted after the word "capital."
26. in Article 13 (1) (m):
"(m) in the case of a request for subsequent consent, also a solemn declaration that the applicant did not exercise the voting rights attached to securities acquired without the approval of the Czech National Bank or otherwise did not exercise a significant influence on the management of the investment company or investment fund, and the justification why the applicant did not request the Czech National Bank to give its consent to the previous one, and."
27. in Paragraph 13 (3), the words "over the last 10 years" shall be added at the end of the text of point (c).
28. In Article 13, the following paragraph 4 is added:
"(4) Where the applicant is a person who requests the acquisition of a holding for the purpose of the management of the assets of the client of which the investment vehicles are part, he shall not be obliged to document the annexes referred to in paragraph 1 (e), (f) and (k). ';
29. Articles 14 and 15, including the headings and footnotes 12 and 13, read:
Forms of application for authorisation to merge or divide an investment company or investment fund
(Paragraph 96 (2) of the Law)
The formalities for the application for authorisation of a merger or division (hereinafter referred to as "conversion ') of an investment company or investment fund shall be:
(a) an indication of how the conversion will be carried out (12) and how it will be made (13);
(b) indication 5) of the participating companies and the trading firm of the successor companies;
(c) the relevant date of conversion;
(d) the justification and the intended timetable for conversion;
(e) in the event of the transformation of an investment company, the information on which of the acquiring companies will manage the holding funds or investment funds still under management by the participating company, as well as the information on which of the acquiring companies will provide services related to the assets entrusted to the customers of the participating company; and
(g) an affidavit from the applicant stating that the information given in the application and its annexes are true, up to date and complete.
Annexes to the application for authorisation to convert an investment company or investment fund
(Paragraph 96 (2) of the Law)
The application referred to in Article 14 shall be accompanied by:
(a) the conversion project, including in particular the applicant's intention, the changes to the business plan, the timetable, the description of the effects on the exercise of the collective investment activity and, where applicable, the provision of services pursuant to Article 15 (3) and (4) of the Act, the description of the integration of the organisational units and the inclusion of work into the new organisational structure and the description of the transfer of competences, where this information is not already contained in other documents submitted,
(b) a joint report or reports by the statutory bodies of the companies involved on the conversion and, where appropriate, approval to refrain from the preparation of a joint report or reports on conversion;
(c) an expert report or expert reports, or, where appropriate, a waiver from the processing of an expert report or expert reports;
(d) expert report or expert report, unless it is part of an expert report or expert report;
(e) the accounts of the participating companies for the last 3 financial years; if the company concerned is part of the consolidation unit, also consolidated financial statements for the same period; where such documents are to be verified by an auditor under another legislation8a), they shall be presented by the auditor;
(f) the final accounts of the participating companies, the opening balance sheet of the division or the acquiring company or, where applicable, the interim accounts, where the final accounts were drawn up on the date on which the draft merger or division contract expired for more than 6 months; where such documents are to be verified by an auditor under another legislation8a), they shall be presented by the auditor;
(g) a list of the managers of the participating and successor investment firms or investment funds, indicating their function and the annexes referred to in Article 11 for each such person or, in the case of the managers of the investment fund, the assets of which will be managed by the investment company, the confirmation of the investment company referred to in Article 9a (f) for each such person; in the case of persons other than a member of a statutory authority or a statutory authority, the applicant shall list further, on the basis of which such persons are actually managed by those companies,
(h) an indication of the groups of persons between whom close links arise as a result of the conversion and the legal successors of the persons involved in the conversion;
(i) data on persons (5) who, as a result of the transformation, acquire a qualified participation in the legal successors of the participating companies, indicating the amount of the participation or other form of participation in the applicant, including a graphical representation of the relationship between those persons and documents for assessing the suitability of such persons for sound and prudent management, mutatis mutandis, pursuant to Article 13; the documents referred to in Article 13 shall not be supported by persons who, as a result of the transformation, acquire participation in an investment fund which has a management contract concluded;
(j) the position of the depositary of the collective investment fund on the conversion in relation to each collective investment fund affected by the conversion;
(k) written consent to the conversion granted by the shareholders of the investment fund in the case of a merger of the investment fund with a person not authorised to operate the investment fund; and
(l) an overview of the changes in the facts assessed in accordance with the Annexes required in Sections 5, 9 or 9a, as the case may be, arising as a result of the transformation, and of the Annexes referred to in Sections 5 and 9 or 9a, which are affected by changes in the context of the transformation.
12) Article 2 of Act No. 125 / 2008 Coll., on Transformations of Commercial Companies and Cooperatives, as amended by Act No. 215 / 2009 Coll. and Act No. 227 / 2009 Coll.
13) Sections 60 and 243 of Act No. 125 / 2008 Coll. '.
30. in Paragraph 17 (d):
"(d) documents proving that the equity capital of an investment company to be managed by a holding fund complies with the capital requirements (14);"
31. in Article 17, the words "together with the depositary's written promise to conclude this contract" shall be added at the end of the text of point (e).
32. in Paragraph 19 (d):
"(d) the number of shareholders and the total number of units held by them;"
33.In Article 23, point (d) is deleted.
Points (e) to (i) shall be renumbered (d) to (h).
34. in Article 23 (g), the words "together with the depositary's written promise to conclude this contract" shall be added after the word "by merging."
35. in Article 27 (1) (f), the words "supervisory authority" shall be replaced by the words "supervisory authority" and the word "authority" shall be replaced by "authority."
36. in Article 27 (1) (i), the word "supervision" is replaced by "supervision."
Efficacy
This Decree shall take effect on 1 August 2010.
Governor:
Doc. Ing. Tůma, CSc., v. r.
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Regulation Information
| Citation | Decree No. 224 / 2010 Coll., amending Decree No. 269 / 2004 Coll., on the formalities and annexes of applications under Act No. 189 / 2004 Coll., on collective investment |
|---|---|
| Regulation Type | Order |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 23.07.2010 |
|---|---|
| Effective from | 01.08.2010 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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