Act No. 229 / 2002 Coll.
Financial Arbiter Act
Valid
Law
Effective from 01.01.2003
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229
THE LAW
of 9 May 2002
on financial arbitrator
Parliament has decided on this law of the Czech Republic:
Preliminary provisions
(1) A financial arbitrator (hereinafter referred to as "arbitrator") is also responsible for deciding a dispute which falls otherwise within the competence of the Czech courts when the dispute between the consumer and
(a) the payment service provider when offering and providing payment services;
(b) by the issuer of electronic money when issuing and re-exchanging electronic money;
(c) by a creditor or intermediary when offering, providing or brokering consumer credit or other credit, loan or similar financial services;
(d) a person managing or administering a collective investment fund or offering investment in a collective investment fund or comparable foreign investment fund in the management or implementation of an administration of a collective investment fund or offering investment in a collective investment fund or comparable foreign investment fund;
(e) an insurer or an insurance intermediary in the distribution of life insurance or in the exercise of the rights and performance of life insurance obligations;
(f) a person engaged in an exchange activity in the conduct of an exchange transaction;
(g) building savings or intermediaries when offering, providing or brokering construction savings;
(h) a person providing investment services in the provision of investment services;
(i) by a person who holds a payment account other than a payment account while keeping that account;
(j) the recipient of the one-off deposit when receiving or returning the deposit;
(k) a pension company or intermediary when offering, providing or brokering supplementary pension insurance with a State contribution;
(l) a pension company or intermediary when offering, providing or brokering supplementary pension savings;
(m) a person who provides or distributes a pan-European personal pension product when providing or distributing a pan-European personal pension product;
(n) a person providing a currency exchange service that is offered to the payer via an ATM or at the point of sale of goods or services before the start of the payment transaction, in the provision of that currency exchange service;
(o) a provider of a long-term investment product when providing such a product;
(p) a person providing services related to cryptoassets within the scope of the directly applicable European Union regulation governing cryptoasset markets in the provision of services related to those cryptoassets.
(2) The negotiation of an arbitration agreement does not preclude the competence of the arbitrator.
(3) Arbiter seeks in particular to resolve the dispute amicably.
(1) The tasks associated with the professional, organisational and technical security of the arbiter's activities are carried out by the Office of the Financial Arbiter, which is an organisational component of the State, the entity and the revenue and expenditure of which are part of the budget chapter of the Ministry of Finance.
(2) The Office of the Financial Arbiter is headed by the Arbiter.
(3) The organisation and tasks of the Financial Arbiter Office are governed by the statute issued by the Arbiter.
(4) The employment and remuneration of arbiter, deputy arbiter and other staff at the Financial Arbiter's Office is governed by the Labour Code.
Disputes pursuant to Paragraph 1 shall be decided by the arbitrator and, to the extent provided by this law, by the representative of the arbitrator.
(1) For the purposes of this Act, the institution shall:
(a) the payment service provider;
(b) an electronic money issuer;
(c) the creditor or intermediary when offering, providing or brokering a consumer credit or other credit, loan or similar financial services;
(d) a person managing a collective investment fund, managing a collective investment fund or offering investment in a collective investment fund or comparable foreign investment fund;
(e) an insurer or an insurance intermediary in the distribution of life insurance or in the exercise of the rights and performance of life insurance obligations;
(f) the person engaged in the exchange activity;
(g) a building savings bank and intermediary when offering, providing or brokering construction savings;
(h) the person providing investment services in the provision of investment services;
(i) a person who holds a payment account other than a payment account while holding that account;
(j) the recipient of the single deposit when receiving or returning the deposit;
(k) a pension company or intermediary when offering, providing or brokering supplementary pension insurance with a State contribution;
(l) a pension company or intermediary when offering, providing or brokering supplementary pension savings;
(m) the person who provides or distributes a pan-European personal pension product;
(n) a person providing a currency exchange service that is offered to the payer via an ATM or at the point of sale of goods or services prior to the start of a payment transaction, when providing that currency exchange service;
(o) a provider of a long-term investment product when providing such a product;
(p) a person providing services related to cryptoassets within the scope of the directly applicable European Union regulation governing cryptoasset markets in the provision of services related to those cryptoassets.
(2) For the purposes of this Act, the appellant may be a consumer only.
(3) For the purposes of this Act, a durable data medium shall mean any tool which allows the user to store information intended for him personally so that it can be used for a reasonable period of time for the purpose of such information and which allows the reproduction of that information in an unchanged form.
Arbiter and his representative
(1) The Government, acting on a proposal from the Minister of Finance for a term of office of 5 years, shall appoint Arbitra and the representative of the Arbiter from among persons fulfilling the conditions laid down by this Law. The terms of office shall begin on the date of appointment, if the office of arbitrator or his representative is vacant, otherwise the day following the date of expiry of the term of office of the former arbitrator or his representative. The Government shall appoint an arbiter or an arbiter representative no later than 2 months before the proper expiry of the term of office of the arbiter or an arbiter representative [Paragraph 6 (3) (a)]. In other cases [Paragraph 6 (3) (b), (c), (d)] the government shall appoint an arbiter or an arbiter representative in such a way that the period from the date of termination of the arbiter's or arbiter's duties until the date of appointment of the new arbiter or arbiter's representative does not exceed 2 months.
(2) Arbiter and arbiter representatives may be appointed only persons who are honest, fully competent, of good repute and whose experience guarantees that they will hold their duties properly. The requirement for appointment of an arbiter and a representative of an arbiter is also a university education obtained through the proper completion of a master's study programme in the field of law at a university in the Czech Republic and a demonstration of 5 years of experience in the field of the financial market or protection of consumer interests in the financial market.
(3) The representative of the arbitrator shall, in the absence of the arbitrator, represent his full authority and responsibility. Arbiter may permanently entrust the arbiter's representative to exercise part of its decision-making power.
(4) The provisions of this Arbiter Act apply to the appointment, revocation and legal status of an arbiter representative.
(5) A criminal offence against property, an economic offence or an offence committed in connection with the financing of terrorism shall not be deemed to be fair if its conviction for a crime has not been destroyed or for any other reason, as if it had not been convicted.
(1) Arbiter performs its function independently and impartially. He must refrain from anything that might raise doubts about his bias.
(2) He is responsible for his duties to the government.
(3) The Arbiter submits to the Chamber of Deputies and the Government once a year, by 31 March each year for the previous calendar year, a report on its activities, which also contains information on the costs incurred to ensure its performance. The report shall also contain information on the disputes in question without indicating the applicant's identification details. The disclosure of the institution's identification data in the report does not infringe the obligation of confidentiality under Paragraph 22.
(1) The performance of the duties of arbiter and representative of arbiter is incompatible with that of the President of the Republic, a Member or a Senator of Parliament, a member of the Supreme Audit Office or of the Banking Board of the Czech National Bank and a Judge, as well as with any other activity in the public administration and in the management, supervisory and supervisory bodies of business entities.
(2) The performance of the duties of arbiter and representative of arbiter is also incompatible with other gainful activities, with the exception of the management of own property and of the activities of scientific, pedagogical, publicistic, literary or artistic, provided that such activities are not detrimental to the performance of the duties and their dignity and do not jeopardise confidence in the independence and impartiality of the duties.
(3) The performance of an arbiter or an arbiter representative shall end on the day on which:
(a) his term of office has expired;
(b) the judgment of the court which sentenced the arbiter or representative of the arbiter for an intentional offence, an offence against property, an economic offence or an offence committed in connection with terrorist financing has become final;
(c) a written declaration by the arbitrator or the representative of the arbitrator that he has given up his post has been delivered to the Prime Minister;
(d) the arbiter or representative of the arbiter has died or on the date on which he was declared dead.
(4) For the duration of the term of office, arbiter or arbiter representative shall not be subject to a military obligation if they are subject to it.
(1) The Arbiter Government shall withdraw if it has ceased to be eligible to perform its duties.
(2) The Government may revoke an arbitrator if, in the performance of its duties, it has seriously or repeatedly infringed its obligations under this Act and under specific legislation.
Arbiter control
(1) The procedure shall be initiated on a proposal from the applicant.
(2) The lodging of an application has the same legal effect as if an action has been brought before a court in the same case for limitation and limitation.
The application shall be inadmissible if:
(a) the dispute does not fall within the jurisdiction of the arbitrator;
(b) the substance of the case has already been decided by the court or proceedings are pending before the court;
(c) the arbitration has already been decided on the substance of the case or the proceedings before the arbitrator are pending in the same case;
(d) the matter itself has already been decided in the arbitration procedure or the arbitration procedure is under way in the same case.
(1) The proposal contains:
(a) the names of the parties;
(b) proof that the institution has been unsuccessfully called upon to remedy;
(c) a complete and comprehensible statement of the relevant facts;
(d) evidence or marking of evidence;
(e) an indication of what the appellant seeks;
(f) a statement that the appellant has not brought an action before a court or arbitration or an arbitrator in the same case and has not concluded an out-of-court settlement agreement with the institution and is aware of the binding nature of the finding;
(g) power of attorney, if the appellant is represented on the basis of power of attorney,
(h) the date and signature of the applicant.
(2) The application may also be made on the form issued by the arbitrator. The application model shall also be published by means of a remote access procedure.
(3) If the proposal has deficiencies, the appellant shall inform the appellant of the defects involved and how they are to be removed and shall invite it to remove them within 15 days. In justified cases, the arbitrator may, at the request of the applicant and before the expiry of the period, extend the time limit by 15 days, even repeatedly.
Arbiter shall invite the institution to comment on the proposal within 15 days following the submission of the proposal. In justified cases, the time limit may be extended by 15 days at the request of the institution and before the expiry of the time limit, even repeatedly.
Principles of procedure
(1) Arbiter is obliged to decide to the best of his knowledge and conscience, impartially, fairly and without delay and only on the basis of the facts established in accordance with this law and specific legislation.
(2) Arbiter shall order oral proceedings on application by a party or on his own initiative.
(3) Arbiter is not bound by the proposal and actively provides evidence. In its decision-making, the arbitration is based on the facts of the matter and freely evaluates the evidence.
(4) Interested parties shall have the right to inspect the file and to obtain copies of the documents on the file.
(5) In the course of the proceedings, the arbitrator shall be entitled to require the parties to submit any evidence to support their claim, including oral explanations.
(6) The institution is required within 15 days
(a) at the invitation to present the required documents to the arbitrator and to attend the hearing;
(b) comply with the request of the arbitrator for clarification and the request for the submission of documentation relating to the subject matter of the dispute;
(c) allow the arbitrator to examine his files and electronic records relating to the dispute in question.
In justified cases, the arbitrator may, at the request of the institution and before the expiry of the period, extend the time limit by 15 days, even repeatedly.
(7) Arbiter may entrust staff in the Office of the Financial Arbiter or any other natural person in writing with a view to carrying out investigations. The institution shall also be required to fulfil its obligations under paragraph 6 in respect of such persons. Before carrying out the investigation, the delegate shall be established by written delegation.
(8) The authorised natural person shall comply with the obligations laid down in Section 303 of the Labour Code.
(9) Arbiter may also, in the course of the proceedings, refer to natural and legal persons who are not parties to the proceedings if their explanation may be relevant for the course or outcome of the proceedings. Paragraphs 6 and 7 shall apply mutatis mutandis to such cases. The requested natural or legal person shall not be entitled to reimbursement of the costs of discharging obligations under this provision.
Arbiter is entitled to use the cadastral data free of charge for the performance of tasks under this Act.
Language of the case
The appellant shall have the right to conduct proceedings in the language in which his contract is drawn up with the institution or in which he has normally dealt with the institution in writing.
Withdrawal of proceedings
(1) The arbitration panel shall also stop by order if:
(a) he subsequently found that the application was inadmissible under Article 9,
(b) the appellant has not, despite the call of the arbitrator, removed the shortcomings of the proposal or provided the necessary synergies despite the call of the arbitrator; the appellant must be instructed by the arbitrator,
(c) the applicant has withdrawn his application,
(d) the proposal is manifestly unfounded or bullying.
(2) If a solution to the dispute by its legal or factual complexity would seriously jeopardise the purpose of the arbitration procedure, the arbitration may stop the proceedings within 60 days of the date of its initiation, even if it invites the appellant to remedy the deficiencies of the proposal within that period; the appellant must be instructed accordingly by the arbitrator. The 60-day period shall not run from the date of receipt of the call by the arbitrator to the date of correction of the deficiencies. The 60-day period shall not run even from the date of receipt of the call to the institution pursuant to Article 11 or Article 12 (6) until the date on which the institution fulfils the obligation imposed by that call.
Found
(1) Arbiter shall decide on the substance without undue delay, but no later than 90 days after the assembly of all the supporting documents necessary for the decision; if, in particularly difficult cases, the nature of the case does not justify a decision within that period, the period shall be extended by a maximum of 90 days. Arbiter shall inform the parties without delay of the extension of the time limit and its duration.
(2) The original of the decision shall be served on the parties without undue delay.
(3) The finding contains a statement of reasons and a statement of objections.
Objections
(1) Within 15 days of the date of service of the written copy of the decision or order, the parties may object to the decision or order. The right to object may be waived. They shall have suspensory effect at the time of the opposition.
(2) Arbiter shall confirm or amend the finding by decision of opposition, or the resolution shall confirm, amend or revoke it. Arbiter shall decide on the objections within 30 days of their delivery to the arbitrator; in particularly complex cases, decide within a maximum of 60 days; If, in view of the nature of the matter, it is not possible to rule within that period, the arbitrator may extend it accordingly.
(3) The original of the decision on objections shall be served on the parties to the proceedings.
(4) The decision on objections is final.
Legal power and enforceability of the finding
(1) The found which cannot be challenged by objections is in legal power.
(2) The finding is enforceable under the Civil Code as soon as the time limit for performance has expired.
(3) If no time limit is set in the finding, the finding shall be enforceable once it has acquired legal authority.
At the same time, the institution shall be obliged to pay a penalty of 10% of the amount which the institution is obliged to pay to the applicant according to the finding, even if only partially. The payment of CZK 15,000 will be deposited even if the money is not the subject of the dispute. Penalties are the income of the state budget.
Costs
(1) Each party shall bear its own costs, except for the interpretation provided for in Article 13, borne by the institution.
(2) The procedure is not payable.
International cooperation
(1) Arbiter shall cooperate on the basis of reciprocity with similar out-of-court dispute resolution bodies in other States, in particular those forming the European Economic Area and with the institutions of the European Union.
(2) The Arbiter shall keep basic information on the authorities referred to in paragraph 1. The Arbiter shall publish this information in an appropriate manner.
(3) In the case of disputes arising from cross-border marketing, provision or brokering of services similar to services as defined in Paragraph 1 (1) of this Law, the arbitrator shall provide the consumer, at the request of the authority responsible for resolving the dispute.
Arbiter information obligation
(1) The Arbiter shall publish an annual report on its activities, including a description of the pending disputes, on an appropriate basis, allowing remote access once a year, no later than 30 June of the following calendar year. The disclosure of the institution's identification data in the annual report does not infringe the obligation of confidentiality under Section 22.
(2) The annual report contains in particular:
(a) the number of proceedings opened, including the distinction by type of dispute;
(b) any systemic or serious problems leading to disputes the arbiter is competent to resolve;
(c) the percentage of proceedings which have been terminated by the arbitrator, including the legal provisions on the basis of which the proceeding was terminated;
(d) the average duration of the proceedings;
(e) information on arbiter cooperation with similar out-of-court dispute resolution bodies in other States.
(3) Arbiter shall provide an annual report on request on a durable medium.
(4) Arbiter shall inform the supervisory authorities of the institutions of the deficiencies identified in the activities of the institutions.
(5) The Arbiter provides assistance to the appellants, at their request, in connection with the initiation of proceedings, in particular in writing, filing or supplementing the application, and at any time during the procedure. It shall inform the public in an appropriate manner of the possibility of providing such assistance and of the procedure of the appellants under this Act.
(6) Arbiter shall inform the public, in an appropriate manner, in the performance of its duties, of its action under this law and of the disputes discussed, without indicating the applicant's identification details. The disclosure of disputes under discussion, indicating the identification details of the institution, does not infringe the obligation of confidentiality under Section 22.
(7) The Arbiter operates an updated website providing clear and understandable information in particular on:
(a) their contact details, including postal and e-mail addresses;
(b) that, as a body for the out-of-court settlement of consumer disputes, it is included in a list maintained by the Ministry of Industry and Trade;
(c) the arbitrator and his representatives and the manner in which they are to be appointed and the duration of their mandate;
(d) the membership of an arbitrator in international organisations bringing together out-of-court dispute resolution bodies;
(e) the types of disputes which the arbitrator is competent to decide;
(f) the procedural rules governing the resolution of the dispute;
(g) the languages in which an application may be submitted to the arbitrator and in which the proceedings are conducted;
(h) legislation governing the subject matter of disputes the arbitrator is competent to resolve;
(i) the preliminary requirements to be met by the parties before the initiation of the procedure, including the requirement to provide proof that the institution has been unsuccessfully called upon to remedy;
(j) whether the parties may terminate their participation in the arbitration proceedings;
(k) that each party bears its own costs, with the exception of interpretation costs, and that the proceedings are not charged;
(l) the average steering length before the arbiter;
(m) the legal effect of the order or finding and enforceability of the finding.
(8) Upon request, the arbitrator shall provide the information referred to in paragraph 7 in a durable medium.
(9) Arbiter will publish on its website, in the form of a link to the relevant website of the European Commission, a list of similar non-judicial dispute resolution bodies.
(10) Arbiter shall inform the parties accordingly of the right to legal aid and of the absence of legal representation.
Arbitra can only relieve only the government of the confidentiality obligations of the facts which he has learned in the course of his activities under this law.
Order fine
(1) The Arbiter may, by decision, impose an order fine of up to CZK 100,000 to the institution if it makes it difficult for the institution to proceed in the proceedings by:
(a) shall not, at the request of the Member State referred to in Article 11, comment on the application within the time limit laid down; or
(b) fails to fulfil the obligations laid down in paragraphs 6, 7 and 9 of Section 12.
(2) Arbiter may, by decision, impose a fine of up to CZK 50 000 on a natural or legal person if the procedure makes it difficult for him to proceed in the proceedings by:
(a) shall not, at the request of the arbitrator or the authorised person, produce the required documents relating to the subject-matter of the dispute;
(b) do not participate in the negotiations;
(c) fails to comply with an application by an arbitrator or an authorised person for clarification and a request for the submission of documents relating to the subject-matter of the dispute; or
(d) do not allow the arbitrator or the authorised person to examine his files and electronic records relating to the subject matter of the dispute.
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Regulation Information
| Citation | Act No. 229 / 2002 Coll., on Financial Arbiter |
|---|---|
| Regulation Type | Law |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 04.06.2002 |
|---|---|
| Effective from | 01.01.2003 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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