Act No. 228 / 2020 Coll.
Act on the provision of a State guarantee to the Czech Republic on the guarantee of debts of the Czechoslovak Guarantee and Development Bank, a. s., resulting from the guarantee of credit debts in connection with the mitigation of the negative effects caused by SARS CoV-2
Valid
Law
Effective from 06.05.2020
Text versions:
03.11.2020
06.05.2020
228
THE LAW
of 29 April 2020
on the granting of a State guarantee to the Czech Republic for the guarantee of debts of the Czech Moravian Guarantee and Development Bank, a.s., resulting from the guarantee for debt from loans in connection with the mitigation of the negative effects caused by SARS CoV-2
Parliament has decided on this law of the Czech Republic:
(1) In order to mitigate the negative effects caused by SARS CoV-2, the Czech Republic provides a State guarantee for the debts of the Českomoravské moravské záruva a výrobká banka, a.s., resulting from the guarantee of debts from loans granted by banks, foreign banks operating in the Czech Republic through a branch or savings and credit cooperative (hereinafter the "bank").
(2) For the purposes of this Act, a loan is understood as a loan under the law governing the activities of banks.
(1) The State guarantee provided for in Section 1 is granted in the range of CZK 150 000 000 000.
(2) The right of performance under the State guarantee provided for in Article 1 may be exercised until 31 December 2027.
The State guarantee provided for in Article 1 applies only to the debts of the Czech Moravian Guarantee and Development Bank, a.s., which arise from the guarantee of debt from loans, provided that the following conditions are met:
(a) the loans were agreed until 31 December 2021 if the European Commission's Communication on State aid conditions for the economy in response to the COVID-193 pandemic) does not result in a shorter period of time to finance an entrepreneur with a maximum of 500 employees;
(b) the borrower was not late on 31 March 2020 for more than 30 days with repayment of the debt to the lending bank;
(c) the liability is limited
1. 90% of the amount of the outstanding principal on an individual loan, but not more than CZK 45,000, if it is a loan agreed to finance an entrepreneur with a maximum of 250 employees; or
2. 80% of the amount of the outstanding principal on an individual loan but not more than CZK 40 000 000, if it is a loan agreed to finance an entrepreneur with more than 250 employees and not more than 500 employees,
(d) the liability payments are limited to 30% of the principal amount of all loans agreed by the lending bank covered by the guarantee of the Czech Moravian Guarantee and Development Bank, a.s. with a State guarantee pursuant to § 1;
(e) if the creditor is a legal entity, the bank has established and published, in accordance with Article 4, who is the beneficial owner of the loan (1).
(1) In a way that allows remote access, the Bank will publish data on the loan receiving the loan pursuant to Paragraph 1 (1), the amount of the loan and the amount of the guarantee provided by the Czech Moravian Guarantee and Development Bank, a.s.,
(a) within 15 days of its granting, if provided after the date of entry into force of this law,
(b) within 30 days of the entry into force of this Act, if it was granted before the date of entry into force of this Act.
(2) If the borrower is a natural person, the bank shall publish its name, surname, year of birth and identification number. If the creditor is a legal person, the bank shall publish the name of the legal entity, its identification number and the name of its beneficial owner (2).
(3) In order to identify the beneficial owner of the loan, which is a legal person and draws a loan pursuant to Paragraph 1 (1), the Ministry of Justice shall allow the bank remote access to data on the beneficial owner under the law governing the public registers of legal and natural persons.
(4) The information referred to in paragraph 1 shall be published for a period of up to 60 days from the end of the calendar year in which the loan was repaid or the guarantee ceased to exist otherwise.
The State guarantee provided for in Article 1 is granted free of charge.
The State guarantee provided for in Section 1 is implemented from the State Budget of the Ministry of Industry and Trade.
Efficacy
This Act shall take effect on the day of its publication.
Vondracek v. r.
Zeman v. r.
Babiš v. r.
1) § 118b et seq. of Act No. 304 / 2013 Coll., on public registers of legal and natural persons and on the registration of trust funds.
2) Paragraph 118f (a) of Act No. 304 / 2013 Coll., on public registers of legal and natural persons and on the registration of trust funds.
3) Commission Communication C (2020) 1863 Commission Implementing Regulation (EU) 2015 / 2447 of 7 December 2015 laying down detailed rules for the application of Regulation (EU) No 1308 / 2013 of the European Parliament and of the Council laying down the Union Customs Code (OJ L 343, 29.12.2015, p. 1).
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Regulation Information
| Citation | Act No. 228 / 2020 Coll., on the granting of a State guarantee to the Czech Republic on the guarantee of debts of the Czech Moravian Guarantee and Development Bank, a.s., resulting from the guarantee of credit debts in connection with the mitigation of the negative effects caused by SARS CoV-2 |
|---|---|
| Regulation Type | Law |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 06.05.2020 |
|---|---|
| Effective from | 06.05.2020 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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