Czech National Bank measure No 233 / 1995 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
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13.10.1995
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233
MEASURES
Czech National Banks
of 28 September 1995
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 Foreign Exchange Act No. 6 / 1993 Coll., on the Czech National Bank, and pursuant to § 9 (4) of Act No. 219 / 1995 Coll., the Foreign Exchange Act (the Foreign Exchange Act):
GENERAL PROVISIONS
Preliminary provisions
This measure lays down the conditions for the purchase and sale of foreign exchange funds pursuant to Paragraph 2 (a) in the performance of the exchange services and for certain other foreign exchange transactions at foreign exchange points and the procedure for the handling of counterfeit or altered funds in Czech or foreign currency.
Definition of terms
For the purposes of this measure, the basic terms shall be defined as follows:
(a) foreign exchange funds are funds denominated in foreign currency in the form of banknotes, coins or cheques;
(b) the exchange activity is the purchase of foreign exchange funds for the Czech currency in the form of banknotes, coins or cheques;
(c) the sale of foreign exchange funds is the sale of foreign currency for the Czech currency in the form of banknotes, coins or cheques. The sale of foreign currency means also the purchase of Czech currency from foreigners, (1) who acquired the Czech currency through the sale of foreign exchange funds and own a deduction of such sale,
(d) exchange services are exchange activities and the sale of foreign exchange funds;
(e) another foreign exchange trading is 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 a special law, 2)
(f) the foreign exchange point shall be:
1. a bank domiciled in the country or a branch of a foreign bank (hereinafter referred to as "the bank") which, within the scope of the authorisation, is authorised to operate as a bank3) in accordance with (b) or (d);
2. a person who has been awarded on the basis of the Czech National Bank of Concessions and issued a concession certificate for exchange activities under a special law, 4)
3. a person who has been authorised by the Ministry of Finance to operate betting games in a casino according to the special legislation2) and who has been granted a foreign exchange licence by the Czech National Bank to conduct other foreign exchange transactions.
LICENCES
(1) Currency exchange services or other foreign exchange trading may offer and exercise only foreign exchange positions, to the extent specified in the authorisation to act as a bank3) or in the licence for the exchange activity or in the foreign exchange licence for the sale of foreign exchange funds or other foreign exchange trading.
(2) A foreign exchange licence or other foreign exchange transactions is granted by the Czech National Bank to legal persons at their written request.
(3) In the case of currency exchange activities, the foreign exchange licence replaces the Czech National Bank's comments on the application for an exchange-rate concession under a special law. 4) The Czech National Bank will assess the appropriateness of the establishment, the exchange machine and ensuring that the exchange activity is carried out at the necessary professional level, before expressing its concession for the exchange activity under the special legislation4).
Application for an exchange licence for the sale of foreign exchange funds
(1) The application for an exchange licence for the sale of foreign exchange funds for the Czech currency must contain the following particulars:
(a) the business name of the legal entity, its registered office, the ICO;
(b) the name, surname, birth number and address of the person or persons who are its statutory authority or its members;
(c) the reasons for the request;
(d) the addresses of the establishments where they carry out the exchange activity and where they intend to sell the foreign exchange funds, and the location of the exchange machines;
(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 in the event that such legal person is not registered;
(f) a certified copy of the valid concession instrument to carry out the exchange activities;
(g) data on the purchase of foreign exchange funds, expressed in Czech currency, in the last three months before the application and, where applicable, data on the average purchase in the last 12 months.
(2) Applicants demonstrate at the invitation of the Czech National Bank their accounting documents for the proper conduct of the exchange operation at the time prior to the application for a foreign exchange licence for the sale of foreign exchange funds.
Application for a foreign exchange licence for other foreign exchange transactions
A domestic application for a foreign exchange licence for other foreign exchange transactions shall contain the following particulars:
(a) the business name of the legal entity, its registered office, the ICO;
(b) the name, surname, birth number and address of the person or persons who are its statutory authority or its members;
(c) the reasons for the request;
(d) the addresses of the establishments where it carries out the activity and where it intends to conduct other foreign exchange 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 in the event that such legal person is not registered;
(f) a certified copy of the permit for gambling in a casino issued in accordance with the special legislation.2)
(1) Applications for a foreign exchange licence for the sale of foreign exchange funds pursuant to Section 4 shall be submitted to the branch of the Czech National Bank responsible locally according to the registered office of the legal entity.
(2) An application for an exchange licence for other foreign exchange transactions pursuant to Section 5 is submitted to the headquarters of the Czech National Bank in Prague.
(1) The foreign exchange offices referred to in § 2 (f) (2) are required to notify without delay to the branch of the Czech National Bank which issued the foreign exchange licence for the sale of foreign exchange funds, any changes to the information contained in the foreign exchange licence application pursuant to § 4 and changes to the documents provided for in the application.
(2) The branch of the Czech National Bank shall assess the facts notified under paragraph 1 and decide on any amendment, suspension or revocation of the foreign exchange licence.
(1) The foreign exchange offices referred to in § 2 (f) (3) are required to notify without delay the head office of the Czech National Bank of any changes to the data contained in the foreign exchange licence application for other foreign exchange transactions pursuant to § 5 and changes to the documents provided for in this application.
(2) The Czech National Bank shall assess the facts notified under paragraph 1 and decide on any amendment, suspension or revocation of the foreign exchange licence.
CONDITIONS FOR THE IMPLEMENTATION OF THE MODIFICATION SERVICES BY THE DEVICE POINT
(1) Currency exchange services may only be carried out at the premises of banks (hereinafter referred to as "exchange offices") or exchange machines or at the foreign exchange offices referred to in Article 2 (f) (2), listed in the foreign exchange licence or foreign exchange licence.
(2) If the foreign exchange point referred to in § 2 (f) (2) foresees the performance of the exchange services in other than the time allowed by the establishments or machines, it shall be required to ask the locally competent branch of the Czech National Bank for their assessment in order to extend the foreign exchange licence or change the foreign exchange licence for the sale of foreign exchange funds.
(1) Each exchange office of the bank must be marked in such a way as to show that it provides exchange services. An exchange office set up at a given location as the only place of business of the bank shall be indicated on the commercial name of that bank.
(2) The establishment of the foreign exchange point referred to in Article 2 (f) (2), which carries out the exchange services, must be identified by a commercial name in which the word "bank" or "savings bank" or "savings bank", its translation or the words in which those words appear. 5) The establishment must be marked with the word "currency exchange" and, where appropriate, with translations of that word.
(3) The exchange machine shall bear the trade name, registered office or address of the foreign exchange point which it operates on the basis of an authorisation to operate as a bank or concession instrument for the exchange operation.
(1) The exchange office or foreign exchange office must indicate all its identification features on all documents relating to the implementation of the exchange services. The identifiers are:
(a) the official stamp or stamp of the trader, containing the trade name;
(b) the signature or cipher of the authorised official in accordance with the signatures;
(c) identification number.6)
(2) The signatures are documents containing the names, signatures and codes of the personnel authorised to carry out the exchange services. The signature designs must be approved and confirmed by the responsible person in accordance with Section 12 and must always be available at the point of provision of the exchange services to the Czech National Bank.
It shall be responsible for the proper operation and compliance with the rules relating to the implementation of the exchange services:
(a) a person who is designated as responsible for this area by the Bank's internal regulation;
(b) designated representative, (7) if the entrepreneur is a legal person;
(c) an entrepreneur, a natural person or a representative appointed by him. 7)
In carrying out the exchange services, the following shall be mandatory:
(a) forms:
1. a deduction on the purchase or sale of foreign exchange funds (hereinafter referred to as the "deduction"),
2. a book of valuables or a book of valuables containing entries of at least: date, deduction number, designation of foreign exchange funds by ISO code, quantity of foreign exchange funds purchased or sold broken down by currency. Each individual deduction shall be recorded in a continuous uninterrupted number series,
3. collection accounting document - inventory of balances and cheques on the sale of foreign exchange funds for the Czech currency to the domestic bank or on the deposit of foreign exchange funds into its business foreign exchange account held with the domestic bank in accordance with § 24.
Instead of using the forms, documents may be drawn up - sets of processed computer equipment which must contain the same particulars as the forms and cannot be altered by additional intervention;
(b) a tender file containing a representation and a description of valid Czech and foreign currency banknotes and coins in the minimum range of tender traded in the currency exchange office, information on the issue and validity of such tender, on its suspension and description, or, where appropriate, on the presentation of known counterfeits.
The purchase or sale of foreign exchange funds shall be carried out by foreign exchange points on the basis of an agreed purchase or sale rate.
The price can be charged for the provision of currency exchange services (8) only in Czech crowns, which is set at a fixed rate or in percentage of the exchange rate value, while the minimum and maximum price may be set. The price of the service must be expressed in numerical form.
The prices charged for the exchange services provided must be published together with the courses in a uniform form and in one place, so that the client is clearly and clearly informed of their amount before the exchange service is carried out.
(1) The purchase or sale of foreign exchange funds shall be subject to a deduction which shall always be marked with a serial number and which shall contain the following information:
(a) in the case of the purchase of banknotes and coins:
1. the designation of the currency purchased by ISO code, its quantity, its purchase rate,
2. exchange rate value,
3rd price of service,
4. the amount to be paid in CZK,
5. the identification characteristics of the establishment, the signature of the worker who issued the deduction, according to the signature pattern, the date and place of issue, or the trade name of the operator of the exchange machine, the transaction number, the date and place of execution of the transaction;
(b) in the case of the sale of banknotes and coins:
1. the designation sold by the currency by ISO code, its quantity, the sales rate,
2. exchange rate value,
3rd price of service,
4th amount to receive in CZK,
5. the identification marks of the establishment, the signature of the worker who issued the deduction, in accordance with the signature model, the date and place of issue,
6. in the case of the sale of foreign exchange assets above the consideration of CZK 5,000, the name and surname of the client, the number of his passport and the country of issue, or the name and surname of the client, the type of identity card, his number and the country of issue, if no passport has been submitted.
If the client does not submit a passport or other ID card, the sale of foreign exchange funds may take place up to a maximum of CZK 5,000.
An alien must also submit a purchase deduction to the foreign exchange point when buying back an unused Czech currency for a foreign currency exceeding CZK 5,000;
(c) in the case of the purchase or sale of cheques:
1. the name and surname of the client, the number of his passport and the country of issue or the name and surname of the client, the type of identity card, his number and the country of issue, unless the passport has been issued;
2. the designation of the currency purchased or sold by the ISO code, its quantity, the purchase or sale rate;
3. exchange rate value,
4. price of service,
5. the amount to be paid or received in CZK,
6. the name of the owner of the check,
7. check numbers,
8. the name of the checkbook shown on the check (i.e. the bank that pays the check),
9. identification marks of the establishment, date and place of issue, signature of the worker who issued the deduction, in accordance with the signature model.
(2) The purchase deduction must indicate that it is not possible to buy back foreign exchange funds for the unused Czech currency [§ 2 (c)] in excess of CZK 5,000 if the client does not submit a purchase deduction when buying back.
(1) The deduction is always done in duplicate. One copy of the deduction remains always in the register of the exchange office, establishment or the exchange machine, the other is received by the client. In the case of manual processing, the original deduction shall remain in the register. 9)
(2) When making a cancellation, the countdown is marked on the original and the copy is marked with the word "cancellation," followed by identification marks, date and place of issue. The deduction is included in the other deductions in the number series.
(3) The purchase of the Czech currency may also be made on the basis of an ATM receipt, provided that the alien simultaneously submits a payment card the number of which is identical to the credit card number shown on the receipt. When making the purchase back of Czech currency from foreign residents on presentation of a purchase deduction or an ATM receipt, the foreign exchange point is required to register and archive this document (§ 20).
The forms referred to in Article 13 (a) shall be kept for each exchange office or establishment separately. Entries in book values or book values shall contain data providing a daily overview of any foreign exchange funds purchased or sold. The data shall be in accordance with the data shown on the deductions issued. Quantification of the aggregate amounts of each type of foreign exchange funds purchased or sold and reporting of the balance of foreign currency funds in the treasury - the closing date must be daily.
The forms referred to in Article 13 (a) used in the exchange services are accounting documents under a special law. 10) All information on the forms, including corrections, must be recorded in full, evidence and correct11) and must not lead to incompleteness, inconclusive, incorrect accounting or, where appropriate, misrepresentation. 12) These documents shall be archived for a period of five years following the year to which they relate, of which two years at the foreign exchange office. Documents may be shredded only after that period has elapsed.
(1) The foreign exchange facility referred to in Sections 2 (f) (1) and 2 shall show to the Czech National Bank the amount of foreign exchange funds purchased, sold and paid (§ 24) in the reported quarter and the currency cash of the foreign currency instruments at the last day of the reported quarter, for all exchange centres, establishments and exchange machines in aggregate.
(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 place forms are sent locally to the relevant branch of the Czech National Bank, no later than five 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 OVERVIEW TRADE
Other foreign exchange transactions carry out foreign exchange points according to § 2 (f) (3), which have been granted an exchange licence pursuant to § 5, by the official exchange rate of the foreign exchange market, declared by the Czech National Bank for the day on which this transaction is conducted. The foreign exchange point cannot charge the price for this service. The Czech National Bank's valid exchange rate ticket must be placed in such a place that the client is clearly and clearly informed of the amount of the course before the transaction takes place.
(1) A separate record shall be kept of the foreign exchange transactions made, which shall be presented at any time at the request of the Czech National Bank.
(2) A document must be drawn up at the foreign exchange point for each transaction, which must always bear a serial number and which must contain the following particulars:
(a) the designation of the currency purchased by the ISO code, its quantity, the rate;
(b) the exchange rate value, i.e. the amount to be paid;
(c) the identification marks of the foreign exchange point, the date and place of issue, the signature of the official who issued the document, in accordance with the signature model.
(3) One copy of the document shall always remain in the foreign exchange register, the other being received by the client. In the case of manual processing, the original of the document shall remain in the register. 9)
(4) When making a cancellation, the document shall be marked on the original and the copy by the word "cancellation," followed by identification marks, date and place of issue. The document is included among the other deductions in the number series.
(5) All information on forms and documents, including corrections thereto, must be recorded in full, evidenced and correct 11) and must not lead to incompleteness, inconclusive, incorrect accounting or, where appropriate, to misrepresentation. 12)
RELIEF
The foreign exchange points referred to in § 2 (f) (2) and (3) may sell the foreign exchange funds purchased for the Czech currency to the domestic bank or deposit them in their business foreign exchange account held with the domestic bank (hereinafter referred to as "the levy '). The Bank shall issue a proof of the payment made for the foreign exchange place.
For each transfer of foreign exchange funds to a domestic bank pursuant to § 24, a collection accounting document shall be drawn up containing the aggregate amounts of the different types of foreign exchange funds and the period in which the foreign exchange funds were purchased.
Foreign exchange offices shall carry out on a continuous basis entries of the proceeds of the foreign exchange funds purchased into or in the value book or the corresponding documents - compilation of the processed computer equipment. The contribution notes must agree with the data on the accounting document collected and the document issued by the bank pursuant to Section 24.
Procedure for foreign exchange locations for the handling of counterfeit or altered banknotes and coins
(1) The authenticity of purchased banknotes and coins is the responsibility of the foreign exchange location. If the foreign exchange place suspects that the banknotes or coins submitted are falsified or altered, it shall proceed in accordance with special regulations, 13) irrespective 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 intended 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 TRANSITIONAL PROVISIONS
The infringement or non-compliance with the conditions laid down in this measure shall be governed by a special law. 14)
The foreign exchange points referred to in § 2 (f) (2) and (3), which carry out the sale of foreign exchange funds, the purchase of Czech currency or other foreign exchange transactions on the basis of the foreign exchange permit of the Czech National Bank pursuant to the Foreign Exchange Act No. 528 / 1990 Coll., as amended, are obliged to apply to the Czech National Bank for an exchange licence no later than one year after the entry into force of the Foreign Exchange Act, otherwise the foreign exchange permit will expire. 15)
Repeal
They shall be deleted:
1. the Czech National Bank measure No. 20 / 1994 Coll., laying down the conditions for carrying out the exchange activities,
2. the Czech National Bank measure No. 21 / 1994 Coll., laying down the conditions for the execution of certain foreign exchange transactions carried out by persons other than banks,
3. Czech National Bank measure 184 / 1993 Coll., laying down the conditions for trade in foreign exchange funds carried out by banks in the internal foreign exchange market, as amended by measure 68 / 1995 Coll.
Efficacy
This measure shall take effect on 1 October 1995.
Governor:
Ing. Tošovský v. r.
Annex
Purchase and sale of foreign exchange funds
1) § 1 (c) of Act No. 219 / 1995 Coll., Foreign Exchange Act.
2) Act No. 202 / 1990 Coll., on Lottery and other similar games.
3) Part of Act No. 21 / 1992 Coll., on Banks, as amended.
4) Act No. 455 / 1991 Coll., on Business Business (Trade Act), as amended.
5) § 3 of Act No. 21 / 1992 Coll.
6) Paragraph 28 (6) of Act No. 513 / 1991 Coll., Commercial Code, as amended.
7) § 11 of Act No. 455 / 1991 Coll.
8) Paragraph 2 (3) of Act No. 526 / 1990 Coll., on Prices.
9) § 11 of Act No. 563 / 1991 Coll., on Accounting.
10) Act No. 563 / 1991 Coll., as amended by Act No. 117 / 1994 Coll.
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Regulation Information
| Citation | Measure 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 the handling of counterfeit or altered funds |
|---|---|
| Regulation Type | Measures |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 13.10.1995 |
|---|---|
| Effective from | - |
| Effective until | - |
| Status | Valid |
Legal Areas:
Finance
The regulation text is for informational purposes only.
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