What is Act No. 230 / 2009 Coll.?

Act No. 230 / 2009 Coll., amending Act No. 256 / 2004 Coll., on Capital Market Business, as amended, and other related laws — Act amending Act No. 256 / 2004 Coll., on Capital Market Business, as amended, and other related laws.

When it became Act No. 230 / 2009 Coll. effectiveness?

Act No. 230 / 2009 Coll. became effective 01.08.2009.

Is Act No. 230 / 2009 Coll. still valid?

Yes, Act No. 230 / 2009 Coll. is still valid and effective.

How many times was it Act No. 230 / 2009 Coll. amended?

Act No. 230 / 2009 Coll. has 4 time versions of the text.

Act No. 230 / 2009 Coll. - Act amending Act No. 256 / 2004 Coll., o...

230

THE LAW

of 17 June 2009

amending Act No. 256 / 2004 Coll., on Capital Market Business, as amended, and other related laws

Parliament has decided on this law of the Czech Republic:

ČÁST PRVNÍ

Amendment to the Capital Market Enterprise Act

Čl. I

Act No. 256 / 2004 Coll., on Capital Market Business, as amended by Act No. 635 / 2004 Coll., Act No. 179 / 2005 Coll., Act No. 377 / 2005 Coll., Act No. 56 / 2006 Coll., Act No. 57 / 2006 Coll., Act No. 62 / 2006 Coll., Act No. 70 / 2006 Coll., Act No. 159 / 2006 Coll., Act No. 120 / 2007 Coll., Act No. 296 / 2007 Coll., Act No. 29 / 2008 Coll., Act No. 104 / 2008 Coll., Act No. 126 / 2008 Coll., Act No. 216 / 2008 Coll., Act No. 230 / 2008 Coll., and Act No. 7 / 2009 Coll., is amended as follows:

1. footnotes 1 and 2 shall read:

"(1) Directive 97 / 9 / EC of the European Parliament and of the Council of 3 March 1997 on investor compensation schemes. Directive 98 / 26 / EC of the European Parliament and of the Council of 19 May 1998 on settlement finality in payment and securities settlement systems. Directive 2001 / 34 / EC of the European Parliament and of the Council of 28 May 2001 on the admission of securities to listing on the stock exchange and on the information to be published on them, as amended by Directive 2003 / 6 / EC of the European Parliament and of the Council, 2003 / 71 / EC, 2004 / 109 / EC and 2005 / 1 / EC. Directive 2003 / 6 / EC of the European Parliament and of the Council of 28 January 2003 on insider dealing and market manipulation (market abuse). Directive 2003 / 71 / EC of the European Parliament and of the Council of 4 November 2003 on the prospectus to be published in the public tender or admission to trading of securities and amending Directive 2001 / 34 / EC. Directive 2004 / 39 / EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments, as amended by Directives 2006 / 31 / EC and 2007 / 44 / EC of the European Parliament and of the Council. Commission Directive 2004 / 72 / EC of 29 April 2004 implementing Directive 2003 / 6 / EC of the European Parliament and of the Council as regards recognised market practices, the definition of confidential information in relation to commodity derivatives, the compilation of insider lists, the reporting of transactions by responsible managers and the reporting of suspicious transactions. Directive 2004 / 109 / EC of the European Parliament and of the Council of 15 December 2004 on the harmonisation of transparency requirements concerning information on issuers whose securities are admitted to trading on a regulated market and amending Directive 2001 / 34 / EC as amended by Directive 2008 / 22 / EC of the European Parliament and of the Council. Directive 2006 / 48 / EC of the European Parliament and of the Council of 14 June 2006 relating to the taking up and pursuit of the business of credit institutions (recast), as amended by Directive 2007 / 44 / EC of the European Parliament and of the Council. Directive 2006 / 49 / EC of the European Parliament and of the Council of 14 June 2006 on the capital adequacy of investment firms and credit institutions (recast). Commission Directive 2006 / 73 / EC of 10 August 2006 implementing Directive 2004 / 39 / EC of the European Parliament and of the Council as regards the organisational requirements and operating conditions of investment firms and the definition of terms for the purposes of that Directive. Commission Directive 2007 / 14 / EC of 8 March 2007 laying down detailed rules for the application of certain provisions of Directive 2004 / 109 / EC on the harmonisation of transparency requirements concerning information on issuers whose securities are admitted to trading on a regulated market. Directive 2007 / 44 / EC of the European Parliament and of the Council of 5 September 2007 amending Council Directives 92 / 49 / EEC and 2002 / 83 / EC, 2004 / 39 / EC, 2005 / 68 / EC and 2006 / 48 / EC as regards procedural rules and evaluation criteria for the prudential assessment of acquisitions and increases of holdings in the financial sector.

2) Commission Regulation (EC) No 1725 / 2003 of 29 September 2003 adopting certain international accounting standards in accordance with Regulation (EC) No 1606 / 2002 of the European Parliament and of the Council, as amended. Commission Regulation (EC) No 2273 / 2003 of 22 December 2003 implementing Directive 2003 / 6 / EC of the European Parliament and of the Council as regards exemptions for repurchase and stabilisation programmes of financial instruments. Commission Regulation (EC) No 809 / 2004 of 29 April 2004 implementing Directive 2003 / 71 / EC of the European Parliament and of the Council as regards data contained in prospectuses, the format of prospectuses, the presentation of data in the form of a reference, the publication of prospectuses and the dissemination of advertisements, as amended by Commission Regulations (EC) No 1787 / 2006 and (EC) No 211 / 2007. Commission Regulation (EC) No 1287 / 2006 of 10 August 2006 implementing Directive 2004 / 39 / EC of the European Parliament and of the Council as regards the recording obligations of investment firms, transaction reporting, market transparency, admission of financial instruments to trading and the definition of terms for the purposes of that Directive. ';

2. In Article 2 (1) (l), the words "investment vehicles (" regulated market ") 'are replaced by the words" (Article 55)'.

3. In Article 2, at the end of paragraph 3, the dot is replaced by a comma and the following point (c) is added:

"(c) a related party pursuant to a directly applicable regulation of the European Communities adopting certain international accounting standards (2c).

2c) Point 3 of International Accounting Standard IAS 24 - Publication of related parties annexed to Commission Regulation (EC) No 1725 / 2003. '

Footnotes 2c to 2f are referred to as footnotes 2d to 2g, including the footnotes.

4. In the first sentence of Paragraph 2b (6), a comma is inserted after the word "customer '.

5. in Article 6 (1) (g), the words "appropriate to the proper and prudent management of the securities dealer" shall be replaced by the words "meeting the criteria set out in Article 10d (6)."

6. in Paragraph 6a, the following paragraph 3 is inserted after paragraph 2:

"(3) The securities dealer referred to in § 8a (1) to (3) may continue to engage in business activities consisting of activities directly related to the management of own property. ';

Paragraphs 3 to 5 shall be renumbered paragraphs 4 to 6.

7. In Paragraph 6a, the following paragraph 6 is inserted after paragraph 5:

"(6) In the case of a decision to register a further activity as referred to in paragraph 3, where there are no grounds of particular consideration for the registration of this further business activity, which the Czech National Bank will assess in particular, taking into account whether the registration of that additional activity will contribute to improving the quality of the investment services provided, the refusal of registration would cause significant damage to the securities dealer or the extent, complexity and nature of the other activity, the Czech National Bank will reject the registration. In the marketing authorisation for further activities referred to in paragraph 3, the Czech National Bank may restrict the scope of the registered activity and, where appropriate, lay down the conditions which the securities dealer must fulfil before each of the registered activities are started and, where appropriate, those which he must comply with in the performance of the registered activity. ';

Paragraph 6 shall become paragraph 7.

8. In Article 7 (2), "4 'is replaced by" 5'.

9.

„§ 8

The Czech National Bank shall request the opinion of the supervisory authority of another Member State of the European Union before granting an authorisation for the activities of a securities dealer or upon receipt of an application for approval in the cases referred to in Article 10b (1) if the person qualified to participate in a person seeking authorisation or consent is the person authorised by that Member State to act as a bank, electronic money institution, insurance undertaking, reinsurance undertaking, investment company or investment service provider or is the controlling person of that person. ';

10. In Paragraph 8a (7), a comma is inserted after the word "intermediary 2g) '.

11. in Articles 9 (5) and (6) and 130 (7), the word "special" shall be deleted;

12. in Paragraph 9 (8), the words "special legislation" shall be replaced by "law."

13. in Articles 9 (8) and 9, 9a (1), 16 (1), 33 (5) and (8) (b), 65 (1) (e), 91, 92 (1) (b), 93 (5), 97 (1) (d), 100 (3) (g), 102, 111 (5), 115 (1) (e) (2), (g) and (h), 117 (2) (f), (g) and (l) and 139 (5) (a), the words "law" shall be replaced "by" by "and, in Article 33 (2)," shall be replaced by "by";

14. In Part Two, Title II, Part 2, the heading of Section 4 reads: "Acquisition, increase and withdrawal of qualifying holdings in and control of securities dealers'.

15. In Part Two, Title II, Section 4, the following Sections 10b to 10e are inserted:

„§ 10b

Determination and calculation of qualifying holdings

(1) A person or persons acting in agreement must have the approval of the Czech National Bank

(a) to acquire a qualifying holding in a securities dealer;

(b) to increase the qualifying participation in a securities dealer by reaching or exceeding 20%, 30% or 50%; or

(c) to become persons controlling a securities dealer;

even if those persons do not exercise voting rights associated with such acquired participation in a securities dealer; there is no change in the voting rights of those or other persons.

(2) For the purposes of calculating the participation referred to in paragraph 1, the voting rights resulting from the participation in a securities dealer who is a public limited liability company and the voting rights referred to in § 122 (2); § 122 (10) to (15) shall apply mutatis mutandis.

(3) The calculation of the participation referred to in paragraph 1 shall not include the voting rights of participating securities relating to securities held by a securities dealer or a person authorised by another Member State of the European Union to provide investment services in its power in the context of the subscription or placement of securities, unless the voting rights are exercised or otherwise interfered with the management of the issuer of securities and if such securities are exported within 1 year of the date of their acquisition.

(4) Paragraphs 2 and 3 shall apply mutatis mutandis to a securities dealer who is a limited liability company.

§ 10c

Consent to and notification of the acquisition or increase of qualifying holdings or controls

(1) The consent referred to in Article 10b (1) must be obtained by a person or persons acting in agreement before the acquisition or increase of a qualifying holding in or control of a securities dealer.

(2) A person who, without the prior approval of the Czech National Bank, acquires or increases the qualifying participation in, or controls, a securities dealer shall immediately inform the Czech National Bank of this fact and shall without undue delay ask for its consent pursuant to § 10b (1).

(3) The acquisition or increase of a qualifying holding in a securities dealer or its control without the prior approval of the Czech National Bank does not result in the annulment of the legal act on the basis of which such changes in the shares in a securities dealer took place, but the voting rights associated with such acquired participation must not be exercised until such consent has been granted.

§ 10d

Assessment of qualifying holdings

(1) The Czech National Bank shall confirm the receipt of the application in writing to the applicant no later than 2 working days after the date of receipt of the request for consent pursuant to Article 10b (1) and inform the applicant of the date on which the deadline for examining the application set out in paragraph 2 expires. The application shall contain information on the person (s) intending to acquire or increase a qualifying holding in a securities dealer or a securities dealer (s) to exercise control, the data on the securities dealer (s) in which the participation is to be acquired or increased or to be controlled, the total amount of the share that the applicant has in that securities dealer by acquiring or increasing the qualifying holding (s) and the data on the person transferring the share to the applicant. The application shall be accompanied by the documents necessary for the assessment of the application in view of compliance with the conditions referred to in paragraph 6.

(2) The Czech National Bank shall take a decision on the application no later than 60 working days from the date of dispatch of the written acknowledgement of receipt referred to in paragraph 1. If the Czech National Bank does not issue a decision within this period, the consent has been granted. This does not apply in the case of a request for consent submitted under Paragraph 10c (3).

(3) If the request is incomplete or if it is suffering from other defects, the Czech National Bank shall, without undue delay and at the latest on the 50th day of the period set out in paragraph 2, invite the applicant in writing to remedy the deficiencies of the application and, where appropriate, to submit further information necessary for the assessment of the application, the Czech National Bank shall confirm the receipt of the requested information to the applicant in writing within the time limit referred to in paragraph 1. The date of dispatch of this invitation shall be suspended for a maximum period of 20 working days. The period laid down in paragraph 2 shall be interrupted for up to 30 working days if the applicant:

(a) has the residence, registered office or place of business in a State which is not a Member State of the European Union; or

(b) it is not subject to supervision by an authority of a Member State of the European Union supervising banks, electronic money institutions, insurance undertakings, reinsurance undertakings, investment service providers, investment firms or standard funds under the collective investment law.

(4) The application for consent referred to in paragraph 1 may be made only on the prescribed form to which the applicant shall accompany the documents certifying compliance with the conditions referred to in paragraph 6. Models of forms and their annexes shall be laid down in the implementing legislation.

(5) The Czech National Bank only examines the fulfilment of the conditions referred to in paragraph 6 when examining the application and does not take account of the economic needs of the market.

(6) The Czech National Bank will accept the request if the following conditions are met in view of the possible influence on the performance of the business of the securities dealer:

(a) persons requesting consent are trustworthy;

(b) persons who are proposed as managers of a securities dealer comply without any doubt with the conditions laid down in Article 10 (2);

(c) sufficient volume, transparency of origin and the safety of the applicant's financial resources in relation to the activities carried out or planned for the securities dealer;

(d) the securities dealer will continue to be able to comply with prudent business rules on an individual and consolidated basis;

(e) the structure of the consolidation unit in which the securities dealer is to be included;

1. does not prevent effective supervision of the securities dealer;

2. does not prevent the effective exchange of information between the Czech National Bank and the supervisory authority of another Member State of the European Union which oversees the financial market; or

3. It does not make it difficult for individual supervisory authorities to exercise their powers over this consolidation total and the persons included in this consolidation unit;

(f) there is no reasonable concern, in the context of the proposed acquisition or increase of a qualifying participation in, or control of, a securities dealer, that there may be a breach of the law governing the measure against the legalisation of the proceeds of crime and terrorist financing, or that such breach has already occurred; and

(g) this is a case of special consideration as regards the application referred to in Article 10c (3).

(7) In the decision on the application Czech National Bank

(a) may set a time limit for the acquisition of an interest in a securities dealer pursuant to Article 10b (1);

(b) state the conclusions resulting from the opinions received in accordance with the procedure laid down in Article 8 before the decision is taken.

(8) The Czech National Bank may request that the court annul the order of the General Meeting of the Securities Dealer in which a qualified participation has been acquired or increased, or be controlled by a person or persons acting in agreement without the prior approval of the Czech National Bank. If the Czech National Bank does not exercise this right in court within 3 months of the date of the general meeting or, if the general meeting has not been properly convened, within 3 months of the date on which the Czech National Bank could have known that it should have been convened, but within 1 year of the general meeting or the date on which the Czech National Bank could have known that the general meeting should have been convened, that right shall cease. The provisions of the Commercial Code on the annulment of the General Meeting's resolutions shall apply mutatis mutandis.

(9) Paragraph 8 shall also apply to resolutions adopted by decisions of members of a limited liability company outside the general meeting.

§ 10e

Need or reduction of qualifying holdings

(1) The person or persons acting in agreement without undue delay shall notify the Czech National Bank that:

(a) reduce their qualifying participation in a securities dealer by falling below or abstain from 50%, 30% or 20%; or

(b) reduce their qualifying participation in a securities dealer by losing control of it.

(2) The notification referred to in paragraph 1 shall contain information on the person (s) reducing or withdrawing his or her qualifying participation in the securities dealer or the person (s) in the person (s) in whose control he or she is (s) being reduced or disposed of or who ceases to be controlled, the total amount of the share in that securities dealer after the reduction and the person (s) acquiring or increasing the share in the securities dealer. ';

16.

„§ 11

Paragraph 10b to 10e shall not apply to a securities dealer who is a bank. In his case, the law governing the activities of the banks shall apply. ';

17. in Article 12 (b) (1) and (2), "potential" is replaced by "potential."

18. in Article 12a (1) (a) (2), "the framework" shall be replaced by "the framework";

19. in Article 12b (1) (d), a comma is inserted after the word "customers."

20. In Part Two, Title II, Part 3, in the title of Section 4, the word "performing 'is replaced by" implementing'.

21. in Paragraph 14 (5), the word 'executed' is replaced by 'implemented';

22. in Paragraph 15a (1), second sentence, a comma is inserted after the word "provided."

23. in Article 15d (1) (d), a comma is inserted after the word "instrument."

24. in Article 15g, the word "point" shall be inserted after the words "points 1 and 2,"

25. in Paragraph 15k (2) (f), the word 'course' is replaced by 'course';

26. in Article 15l (3) (b), a comma is inserted after the word "implemented."

27. In the first sentence of Paragraph 15n, a comma is inserted after the word "customer."

28. in Paragraph 15t (1), a comma is inserted after the word "instruments3c)."

29. in Paragraph 16 (1), "special" is replaced by "other."

30. in Article 16a (2):

"(2) The securities dealer shall also publish data on compliance with prudential business rules on an individual basis; This does not apply if:

(a) the controlling agent of securities [Paragraph 151 (1) (c)],

(b) by the securities dealer responsible in the group of the European financial holding person (§ 151 (1) (s));

(c) by the securities dealer responsible in the group of foreign controlling securities dealer (§ 151 (1) (t));

(d) by the securities dealer responsible in the group of foreign controlling banks (§ 151 (1) (u)); or

(e) controlled by a person in a group of European controlling securities dealers [§ 151 (1) (p)], in a group of European controlling banks under the law governing the activities of banks, in a group of European financial holding companies [§ 151 (1) (r)] or in a group of foreign controlling banks [§ 151 (1) (m)], and shall be taken into account when publishing data on the fulfilment of prudent business on a consolidated basis. ';

31. in Article 19 (3), the words "special law" are replaced by the words "other law."

32. in § 19 (4) and § 24 (5) of the introductory part of the provision, the words "special legislation governing the activities of banks" are replaced by the words "law governing the activities of banks."

33. in Article 21 (1), the words "or residence" shall be replaced by the words "residence or place of business."

34. in Article 30 (3) (b) of the introductory part of the provision, the comma after the word "person" is deleted.

35. in Paragraph 31 (b), "2 and 3" is replaced by "1 and 2."

36. In Article 32 (5), the words "and the registration of contracts relating to investment services provided 'shall be inserted after the words" instruments'.

37. in Paragraph 32 (7) (b), the words "transactions which he has concluded or procured" shall be replaced by "all orders received and transmitted."

38. in Article 32 (7), point (e) is deleted;

Point (f) shall be renumbered as point (e).

39. in Paragraph 32a (5), "the provision of investment services" is replaced by "the pursuit of the activities referred to in paragraph 1."

40. in Article 32b (2), the following points (c) and (d) are inserted after point (b):

"(c) has its registered office, residence or place of business in the territory of the Czech Republic or in the territory of a Member State of the European Union whose legal order does not allow activities similar to those referred to in § 32a (1) to be carried out by a tied agent;

(d) has completed secondary education, '.

Point (c) shall be renumbered as point (e).

41. in Article 32b (2) (e), the words "the function referred to in paragraph 4" shall be replaced by the words "pursuant to paragraph 5."

42. in Paragraph 32b, the following paragraph 4 is inserted after paragraph 3:

"(4) A tied agent who is a legal person may only be a person who has the transparent and safe origin of the capital in the case of a trading company or cooperative or comparable quantities in the case of a foreign legal person. ';

Paragraph 4 shall become paragraph 5.

43. In Paragraph 32c (1), the second sentence is replaced by the sentence "The Czech National Bank shall keep a list of tied representatives represented."

44. in § 32c (6) (c), the comma after the word "representative" shall be deleted;

45. in Paragraph 33 (2), the words "specific legislation" shall be replaced by the words "law."

46. In Paragraph 33 (4), the words "against which decomposition may be lodged 'are deleted.

47. In Paragraph 36, the following paragraph 3 is inserted after paragraph 2, including footnote 8:

"(3) In exceptional cases, where certain mandatory particulars (8) are not adequate in relation to the issuer's activity, the legal form of the issuer or the securities covered by the prospectus, the prospectus shall contain data equivalent to the mandatory particulars, unless such information is not available. Paragraph 1 shall be without prejudice to this.

8) Commission Regulation (EC) No 809 / 2004. '

Paragraphs 3 to 7 shall be renumbered paragraphs 4 to 8.

48. In Paragraph 36 (4), "6 'is replaced by" 7' and footnote 8 is deleted.

49. in Paragraph 36 (5), "3" is replaced by "4."

50. In the first sentence of Article 36 (6), a comma is deleted after the word "issuer 'and a comma is inserted after the word" Union'.

51. in Article 36b (1), "5" is replaced by "6."

52. in Article 36c (1) and (2), "5" is replaced by "6."

53. In Paragraph 36g (1), the words "in the Czech Republic" shall be inserted after the words "offers" and the words "only in the Czech Republic" shall be deleted.

54. in Article 36g (2) and (3):

"(2) The prospectus shall be drawn up in the Czech language and, as decided by the person drawing up the prospectus, either in the language in which the documents may be presented to the competent supervisory authority of the Member State of the European Union or in the English language,

(a) where the Czech National Bank approves a prospectus for the purposes of public tender in the Czech Republic and at the same time in one or more other Member States of the European Union; or

(b) for the purposes of the admission of a security to trading on a regulated market (§ 55) and at the same time for admission to trading on one or more regulated markets located in a Member State of the European Union, which is not the Czech Republic.

(3) The prospectus shall be drawn up, as decided by the person drawing up the prospectus, either in the language in which the documents may be submitted to the supervisory authority of the relevant Member State of the European Union or in English,

(a) where the Czech National Bank approves a prospectus for the purposes of a public tender in one or more other Member States of the European Union; or

(b) for the purposes of the admission of a security to trading on a regulated market located in a Member State of the European Union, with the exception of a regulated market (§ 55). "

55. in Paragraph 36g, the following paragraph 4 is inserted after paragraph 3:

"(4) For the purposes of the exercise of supervision by the Czech National Bank within the meaning of paragraph 3, the prospectus shall be drawn up, as decided by the person drawing up the prospectus, either in the Czech language or in the English language."

Paragraphs 4 and 5 shall become paragraphs 5 and 6.

56. in Article 36g (5), the words "regulated market of one or more Member States" shall be replaced by the words "one or more regulated markets located in a Member State" and the words "accepted by the competent authority" shall be replaced by the words "in which documents may be submitted to the competent authority."

57. In Article 36h (1) (a), the words "or the person who has requested the admission of an investment security to trading without the consent of the issuer," shall be inserted after the word "issuer."

58. in Article 36h (1) (c), the words "or at the registered office of the person who has requested the admission of the investment security to trading without the consent of the issuer," shall be inserted after the word "issuer."

(59) In Paragraph 36h (1), at the end of point (d), the words "which itself accepts an investment security for trading, or" shall be added.

60. in Paragraph 36h (3), the words "securities (" official market ")" shall be inserted after the word "market."

61. In Paragraph 39, the following paragraph 3 is inserted after paragraph 2:

"(3) The regulated market operator may continue to conduct business activities consisting of activities directly related to the management of its own property. ';

Paragraphs 3 to 6 shall be renumbered paragraphs 4 to 7.

62. In Paragraph 39, the following paragraph 7 is inserted after paragraph 6:

"(7) In the case of a decision on the registration of another activity referred to in paragraph 3, if there are no grounds of particular consideration for the registration of this further business activity, which the Czech National Bank will assess in particular, taking into account whether the registration of that additional activity will contribute to improving the quality of the investment services provided, the refusal of registration would cause significant damage to the organiser of the regulated market, or the extent, complexity and nature of that additional activity, the Czech National Bank will reject the registration. In the marketing authorisation for further activities referred to in paragraph 3, the Czech National Bank may restrict the scope of the registered activity and, where appropriate, lay down the conditions that the regulated market operator must fulfil before each of the registered activities are started and, where appropriate, that it must comply with in its execution. ';

Paragraph 7 shall become paragraph 8.

63. In Section 47, the words "participation in, and control of, a regulated market operator 'are replaced by the words" increasing and withdrawing the qualifying participation in and controlling the regulated market operator'.

64. In Article 47 (1), the word "previous' is deleted, the word" § 11 'is replaced by the words "§ 10b to 10d', and at the end of the paragraph the sentence" The application for consent must contain the information referred to in § 10d (1) and may be submitted only on the prescribed form to which the applicant attaches evidence of compliance with the conditions set out in § 10d (6). The model forms and the content of their annexes shall be laid down in implementing legislation. ';

65.In Article 47 (2), "Article 11 (9) and (10)" is replaced by "Article 10e."

66.Paragraph 50 (7) reads as follows:

"(7) The implementing act shall specify the content of the information obligations set out in paragraphs 1 and 4 and the time limits, form and manner of implementation thereof. ';

67. Paragraph 56 (8) is deleted.

68. In Paragraph 57, the following paragraph 3 is added:

"(3) Furthermore, the obligation to publish the prospectus referred to in paragraph 1 shall not apply to securities offered in connection with the offer of take-over as consideration or with the merger, provided that the Czech National Bank is served with a document which the Czech National Bank decides contains data equivalent to that contained in the prospectus. If the Czech National Bank does not send the issuer within 15 working days of the date of receipt of the document of the decision on that document, the data shall be considered equivalent to the data in the prospectus; where the document procedure is suspended, that period shall not run. ';

69. In Section 64, the words "securities (the official market) 'are deleted.

70. In § 65 (1) (h), § 96 (3), § 97 (1) (b), § 99a (2), § 112 (1), § 112 (5) in the sentence behind the semicolon and in § 152 (1) the word "special" is replaced by "other."

71. the following Section 65a is inserted after Section 65:

„§ 65a

The issuer of shares admitted to trading on the official market for shares which are newly issued and which are of the same type as shares admitted to trading on the official market shall submit an application for admission to trading on that market within 1 year from the date of issue, unless their admission is accepted without a request. ';

72. In Paragraph 83, the following paragraph 15 is added:

"(15) The settlement system operator may also provide the investment service referred to in point (a) of Article 4 (3) for its participants, if it has this in the settlement system permit. ';

73.In § 90 (1), § 109 (2) (b), § 110 (7), § 145 (6) (c), § 150 (2) and in § 197 (b), the word "special" is replaced by "other."

74. In Paragraph 94 (10), the words "investment valid 'are replaced by" investment valid'.

75. in Article 99 (2), a comma is inserted after the word "issued";

76. At the end of paragraph 2, the words "or to conduct other business activities registered by the Czech National Bank pursuant to § 103a 'shall be added in Paragraph 100.

77. Paragraph 101 (4) is deleted.

Paragraph 5 shall become paragraph 4.

Citation	Act No. 230 / 2009 Coll., amending Act No. 256 / 2004 Coll., on Capital Market Business, as amended, and other related laws
Regulation Type	Law
Author	-
Collection	Code of Laws

Date of Promulgation	30.07.2009
Effective from	01.08.2009
Effective until	-
Status	Valid

Act No. 230 / 2009 Coll.

Act amending Act No. 256 / 2004 Coll., on Capital Market Business, as amended, and other related laws

Contents

ČÁST PRVNÍ

Čl. I

„§ 8

„§ 10b

§ 10c

§ 10d

§ 10e

„§ 11

„§ 65a

Contents

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