Measure Česká národní banka No 227 / 1996 Coll.
Measures by the Czech National Bank laying down the conditions for the execution of certain foreign exchange transactions for foreign exchange points, including the procedure for handling counterfeit or altered funds
Valid
Measures
Text versions:
14.08.1996
227
MEASURES
Czech National Banks
of 25 July 1996
laying down the conditions for the execution of certain foreign exchange transactions for foreign exchange points, including the procedure for the handling of counterfeit or altered funds
The Czech National Bank provides for the Act of the Czech National Council No. 6 / 1993 Coll., on the Czech National Bank, and pursuant to § 9 (4) of the Foreign Exchange Act No. 219 / 1995 Coll.:
GENERAL PROVISIONS
This measure provides for:
(a) the conditions for the exchange activity, i.e. the purchase of banknotes, coins or cheques in foreign currency for banknotes, coins or cheques in Czech currency (hereinafter referred to as the purchase of foreign currency);
(b) the conditions for the sale of banknotes, coins or cheques in foreign currency for banknotes, coins or cheques in Czech currency (hereinafter referred to as "the sale of foreign currency"),
(c) the conditions for the exchange of foreign currency for game chips in another playing currency and the exchange of foreign currency wins into another currency when gambling in a casino authorised under the special legislature1 (hereinafter referred to as "other foreign currency transactions"),
(d) the procedure for handling counterfeit or altered funds in Czech or foreign currency.
CONDITIONS FOR THE PURCHASING OF THE PURCHASE OF THE CIVIL MONEY AND THE SALES OF THE CIVIL MONEY
Purchases of foreign currency or sale of foreign currency may only be offered and performed in a foreign exchange place, to the extent specified in the authorisation to operate as a bank2) or in a licence for foreign exchange activities 3) or in an exchange licence for the sale of foreign currency for the Czech currency .4)
(1) The foreign exchange licence for sale of foreign currency for the Czech currency is granted on application containing the following particulars:
(a) the business name of the legal entity, its registered office, the ICO;
(b) the name, surname, nationality, birth number and address of the person or persons who are its statutory body or its members;
(c) the reasons for the request;
(d) the addresses of the establishments where the applicant carries out the exchange activity and intends to sell the foreign currency,
(e) an extract from a commercial register, not more than three months old, or a certified copy thereof or a document proving the formation of a legal person where that legal person is not registered;
(f) a certified copy of the valid concession instrument to carry out the exchange activities;
(g) a summary indication of the quantity of foreign currencies purchased corresponding to those in the purchase deductions issued in the 12 months preceding the application.
(2) The application for a foreign exchange licence for the sale of foreign currency for the Czech currency shall be submitted by the applicant to the branch of the Czech National Bank in whose territory the legal entity has its registered office.
(3) The branch of the Czech National Bank, when deciding to grant a foreign exchange licence for the sale of foreign currency for the Czech currency, takes into account, inter alia, the volume of foreign currency purchased in the course of the exchange activities of the applicant.
(4) The foreign exchange office shall, without delay, notify the branch of the Czech National Bank, which issued the foreign exchange licence for the sale of the foreign currency for the Czech currency, any changes to the information contained in the foreign exchange licence application and the changes to the documents provided for in the application.
(1) The Bank carries out the purchase of foreign currency or the sale of foreign currency at the bank's premises (hereinafter referred to as the "exchange office") or in exchange machines.
(2) A non-bank foreign exchange location may only commence the purchase of foreign currency or the sale of foreign currency at establishments or exchange machines approved in advance (5) by a branch of the Czech National Bank in whose territory the foreign exchange place has its registered office or place of business. 6)
(1) The foreign exchange location shall be used by:
(a) a deduction on the purchase of a foreign currency or the sale of a foreign currency, a book of value or a book of value, a collection accounting document (hereinafter referred to as the forms). The foreign exchange point may, instead of the forms, draw up documents - sets of processed computer equipment which must contain the same particulars as the forms and cannot be amended by additional intervention,
(b) a tender file containing a representation and a description of valid banknotes and coins of both the Czech and foreign currencies, information on the issue and validity of such tender documents, their registration in the event of termination and a description of their known counterfeits, where appropriate.
(2) The forms referred to in paragraph 1 (a) or records on technical data media replacing them 7) shall be kept by the foreign exchange point for each exchange office or establishment separately. The foreign exchange office shall keep such documents for a period of five years following the year to which they relate, of which at least three months at the foreign exchange office.
(3) The foreign exchange space on all forms gives its identification marks. The identification marks shall be the trade name, identification number8) and the signature of the authorised staff member according to the signature pattern.
(1) For the purchase of a foreign currency or the sale of a foreign currency, the foreign exchange point shall produce a deduction which shall bear a serial number and shall bear the following information:
(a) the designation of the foreign currency by ISO code, its quantity, the rate;
(b) exchange rate value;
(c) the price of the service;
(d) the amount to be paid or received in CZK,
(e) identification marks of the establishment;
(f) the date and place of issue.
(2) When buying or selling cheques, the foreign exchange place of deduction shall also indicate:
(a) the name and surname of the client, the type, number and country of issue of the identity card;
(b) check numbers,
(c) the name of the checkbook on the check (i.e. the bank that pays the check).
(3) When buying or selling banknotes and coins in excess of CZK 100 000, the foreign exchange point of deduction shall also indicate the name and surname of the client, the type, number and country of issue of his identity card.
(4) The deduction shall be made in duplicate. One copy of the deduction remains in the foreign exchange deposit, the other is received by the client. In the case of manual processing, the foreign exchange point shall store the original deduction. In the case of processing of computer equipment, a complete deduction may be stored on technical data media.
(5) When making a cancellation, the foreign exchange point shall indicate the original and the copy of the deduction by the word "cancellation 'and shall indicate the identification marks, date and place of issue on the deduction. The deduction is included in the other deductions in the number series.
The foreign exchange location shall carry out a daily deadline for the purchase of foreign currencies and the sale of foreign currencies. It shall enter the date, the deduction numbers and their corresponding aggregated data on the total quantity of foreign currencies purchased or sold, broken down by type of foreign currency, marked by ISO code, as well as the balance of foreign currencies in the cash register.
(1) The foreign exchange office shall issue a collection accounting document in two copies where the foreign currency purchased is sold to a bank or another authorised foreign exchange point for the Czech currency, or where the foreign currency purchased is deposited in a foreign exchange account held with the bank. The data on the quantity of foreign currencies sold out for the Czech currency or deposited in the foreign exchange account shall be kept in the value book or book. This information shall correspond to that on the accounting document.
(2) The foreign exchange repository shall indicate on the collection accounting document the quantity of foreign currencies sold out for the Czech currency or deposited into the foreign exchange account, broken down by type of foreign currency identified by ISO code, the identification characteristics of the establishment, the date.
(3) A bank or other foreign exchange place to which foreign currencies are resold, or a bank with which foreign currencies are deposited in an exchange account, shall confirm both copies of the accounting documents collected by indicating its identifiers, returning one copy to the foreign exchange place and keeping the other one. The data on purchased foreign currencies that must correspond to the data on the collected accounting document, the bank or any other foreign exchange place to which foreign currencies are sold shall also be recorded continuously in its book of value or the book of value.
(4) On the sale of foreign currency for the Czech currency referred to in paragraphs 1 to 3, foreign exchange points shall not issue a purchase or sale deduction pursuant to § 6.
(1) Buying a foreign currency or selling a foreign currency shall be carried out by a foreign exchange point according to an agreed purchase or sale rate.
(2) The price charged for the foreign exchange rate services provided shall be fixed at a fixed rate or percentage of the exchange rate value and may set a minimum and maximum price. The price of the service shall be expressed in figures.
(3) The foreign exchange repository shall publish the price list of the services provided together with the exchange card in a visible place, so that the client is clearly informed of their amount before the service is carried out.
(1) The foreign exchange position, which is not a bank, shows to the Czech National Bank aggregate data on the amount of foreign currencies purchased and sold in the reported quarter for all establishments and exchange machines in aggregate from the date of commencement of the exchange operation. The aggregate figures on the quantity of foreign currencies purchased shall correspond to the sum of the figures on the purchase deductions issued and the aggregated figures on the quantity of foreign currencies sold shall correspond to the sum of the figures on the sales deductions issued. If no foreign exchange purchase or sale of foreign currency has taken place in the reporting period, it shall indicate zero values on the form.
(2) The information referred to in paragraph 1 shall be shown in duplicate in the form set out in the Annex to this measure. The completed foreign exchange location forms are sent to the branch of the Czech National Bank in whose territorial district the foreign exchange place has its registered office or place of business no later than 15 calendar days after the end of the reported quarter. The branch of the Czech National Bank confirms receipt of forms and one confirmed form returns to the foreign exchange location.
CONDITIONS FOR THE IMPLEMENTATION OF OTHER EXISTING MONETARY TRADE
Other foreign currency transactions may be carried out by a foreign exchange office authorised by the Ministry of Finance to operate betting games in a casino under the special legislation1) and granted by the Czech National Bank an exchange licence to conduct other foreign currency transactions.
(1) The domestic application for a foreign exchange licence for other foreign exchange transactions contains the following elements:
(a) the business name of the legal entity, its registered office, the ICO;
(b) the name, surname, nationality, birth number and address of the person or persons who are its statutory body or its members;
(c) the reasons for the request;
(d) addresses of establishments where it intends to conduct other foreign currency transactions,
(e) an extract from a commercial register, not more than three months old, or a certified copy thereof or a document proving the formation of a legal person where that legal person is not registered;
(f) a certified copy of the permit for gambling in a casino issued under a special law. 1)
(2) The application for an exchange licence for other foreign currency transactions is submitted by the applicant to the head office of the Czech National Bank in Prague.
(3) The foreign exchange office shall notify without delay the Czech National Bank's head office of any changes to the data contained in the foreign exchange licence application for other foreign currency transactions and changes to the documents provided for in the application.
(1) The foreign exchange repository carries out other foreign currency transactions according to the agreed rate.
(2) The price charged for the provision of another foreign currency transaction shall be fixed at a fixed rate or percentage of the exchange rate, which may set a minimum and maximum price. The price of the service shall be expressed in figures.
(3) The foreign exchange repository shall publish the price list of other foreign currency transactions, together with the exchange card in a visible place, so that the client is clearly informed of their amount before the transaction takes place.
(1) The foreign exchange office shall keep separate records of other foreign currency transactions.
(2) For each transaction, the foreign exchange point shall draw up a deduction indicating the serial number and the following particulars:
(a) the designation of the foreign currency by ISO code, its quantity, the rate;
(b) the exchange rate value, i.e. the amount to be paid;
(c) the price of the service;
(d) identification marks of the establishment referred to in Article 5 (3);
(e) the date and place of issue.
(3) The deduction shall be made in duplicate. One copy of the document remains in the foreign exchange deposit, the other is received by the client. In the case of manual processing, the original of the document shall remain in storage. In the case of processing of computer equipment, the document drawn up may be kept on technical means of data.
(4) When making a cancellation, the foreign exchange point shall indicate the original and the copy of the deduction by the word "cancellation 'and shall indicate the identification marks, date and place of issue on the deduction. The deduction is included in the other deductions in the number series.
PROCEDURE OF THE DETAILED POSTS FOR DISCLOSURE WITH THE PARENT OR CHANGED MONEY ENVIRONMENT
(1) If the foreign exchange point which purchases the foreign currency or sells the foreign currency or other foreign currency transactions suspect that the banknotes or coins submitted are counterfeit or amended, it shall proceed according to the special rules, 9) regardless of whether the foreign exchange point is a natural or legal person.
(2) In the cases referred to in paragraph 1, a certificate shall be drawn up in at least four copies for:
(a) the petitioner,
(b) the head office of the Czech National Bank,
(c) the police,
(d) the exchange or foreign exchange place where the forgery has been detained.
COMMON AND FINAL PROVISIONS
The infringement or non-compliance with the conditions laid down in this measure shall be governed by a special law. 10)
Repeal
Action of the Czech National Bank No. 233 / 1995 Coll., laying down the conditions for the execution of certain foreign exchange transactions for foreign exchange points, including the procedure for handling counterfeit or altered funds, is hereby repealed.
Efficacy
This measure shall take effect on 1 September 1996.
Governor:
Ing. Tošovský v. r.
1) Act No. 202 / 1990 Coll., on Lottery and other similar games, as amended by Act No. 70 / 1994 Coll.
2) Part of Act No. 21 / 1992 Coll., on Banks as amended.
3) Act No. 455 / 1991 Coll., on Business Business (Trade Act), as amended.
4) Foreign exchange Act No. 219 / 1995 Coll.
5) Annex 3 to Act No. 455 / 1991 Coll., as amended.
6) Paragraph 2 (3) of Act No. 513 / 1991 Coll., Commercial Code, as amended.
7) Act No. 563 / 1991 Coll., on Accounting, as amended by Act No. 117 / 1994 Coll.
8) Paragraph 28 (6) of Act No. 513 / 1991 Coll.
9) § 21 of ČNR Act No. 6 / 1993 Coll., on the Czech National Bank. Decree of the Czech National Bank No. 37 / 1994 Coll., laying down the procedure for receiving and handling money and providing compensation for incomplete and damaged banknotes and coins.
10) § 22 Foreign Exchange Act No. 219 / 1995 Coll.
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Regulation Information
| Citation | Measure Česká národní banka č. 227 / 1996 Coll., laying down the conditions for the execution of certain foreign exchange transactions for foreign exchange points, including the procedure for handling counterfeit or altered funds |
|---|---|
| Regulation Type | Measures |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 14.08.1996 |
|---|---|
| Effective from | - |
| Effective until | - |
| Status | Valid |
Legal Areas:
Finance
The regulation text is for informational purposes only.
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