Decree No. 233 / 2014 Coll.
Decree amending Decree No. 141 / 2011 Coll., on the performance of the activities of payment institutions, electronic money institutions, small-scale payment service providers and small-scale electronic money publishers, as amended by Decree No. 31 / 2014 Coll.
Valid
Order
Effective from 01.12.2014
Text versions:
01.12.2014
06.11.2014
233
DECLARATION
of 15 October 2014
amending Decree No 141 / 2011 Coll., on the performance of the activities of payment institutions, electronic money institutions, small-scale payment service providers and small-scale electronic money issuers, as amended by Decree No 31 / 2014 Coll.
The Czech National Bank provides pursuant to § 142 of Act No. 284 / 2009 Coll., on Payment, as amended by Act No. 139 / 2011 Coll. and Act No. 420 / 2011 Coll.:
Decree No 141 / 2011 Coll., on the performance of the activities of payment institutions, electronic money institutions, small-scale payment service providers and small-scale electronic money issuers, as amended by Decree No 31 / 2014 Coll., is amended as follows:
1. in Paragraph 2 (c), including footnote 23, the following shall be added:
"(c) financial institution financial institution23) pursuant to Regulation (EU) No 575 / 2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648 / 2012 (" the Regulation '),
(23) Article 4 (1) (26) of the Regulation. "
2. Paragraph 2 (j) reads as follows:
"(j) the business plan of the applicant for the first three financial years, drawn up in the format of the accounts reports under the Accounting Act (6), supported by real economic calculations, together with a comment containing:
1. the applicant's intentions in terms of the size and volume of the payment services or electronic money or other activities provided by law and a description of the intended way of achieving them, including the characteristics of the applicant's target group and business network;
2. the basic bases and assumptions underlying the plan and the justification for the consistency of the quantitative data of the plan and the reality of the planned results of the activity; ';
3. Paragraph 3 (2) and (3) read:
"(2) Annexes containing basic information on the applicant shall be:
(a) proof of a business authorisation;
(b) proof of origin of the initial capital and, where applicable, other financial resources and the extent of the paying-up of the capital, unless this information is apparent from the document of the business authorisation;
(c) financial statements; and
(d) a list of applications for annulment of decisions of the applicant's highest authority which, at the date on which the application was lodged, have not been definitively brought to an end, where such applications have been made and where such proposals could have a significant impact on the applicant's continued functioning.
(3) Annexes containing information relating to the requested activity of the payment institution shall be:
(a) a business plan;
(b) a description of the management and control system within the scope of Article 18 (1) to (5) of the Act and this Decree;
(c) the method chosen to protect the funds entrusted to execute the payment transaction; depending on the method of protection chosen pursuant to § 20 (1) or (2) of the Act, the procedures for ensuring the proper and separate registration of such funds entrusted and their deposit in a separate account and the rules on the investment of funds, or the draft insurance contract or contract providing for another comparable guarantee, together with the confirmation of the person referred to in § 20 (3) of the Act, that, in the case of an authorisation to operate a payment institution, the contract will be concluded,
(d) a description of the arrangements for the implementation of individual payment services pursuant to Article 8 (1) of the Act and the activities related thereto which the applicant intends to provide, taking into account the applicant's individual conditions, in particular a description of the handling of cash and non-cash cash means, the course of the payment transaction including the acceptance and execution of payment orders, the issue of payment instruments and the provision of credit;
(e) a description of the personnel, organisational and technical security of the various activities, which shall always include the expected number of staff divided into the relevant organisational departments, a description of the information system, the accounting and financial reporting system, and, where the applicant intends to use the commercial agents, a description of their activities and checks,
(f) a description of the subject matter, scope and manner in which the payment institution carries out other business activities than those for which authorisation under the law is required; and
(g) a draft approach to be applied by the payment institution in the calculation of the capital adequacy, including the justification for the proposed approach, the data used for the calculation of the capital adequacy and the calculation of the capital adequacy according to all approaches in the structure according to the capital statement of the payment institution as provided for in the Order on the submission of information by the Czech National Bank20). "
4. in Articles 3 (4) (c) and 5 (c), 5 (3) (a), 6 (4) (c) and 5 (c) and 11 (3) (a), the words "originals of documents of integrity issued" shall be replaced by "proof of integrity issued."
5. in Articles 3 (5) (d), 5 (2), 6 (5) (d) and 11 (2), the words "the original document" shall be replaced by "the document."
6. in Articles 3 (5) and 6 (5) (b):
"(b) the list of the management persons of the legal person referred to in point (a) and, for each person included in that list, the questionnaire referred to in Annex 2 to this Decree, with the exception of the basic information set out in Part A of this Annex,"
7. in Articles 3 (6) (b) and 7 (b), 6 (6) (b) and 7 (b), the word "original" shall be deleted;
8. in Article 3 (5) (g), including footnote 8:
"(g) a description of the fact on the basis of which the person referred to in point (a) becomes the person controlling 8) of the applicant when control occurs.
8) Sections 74 to 77 of Act No. 90 / 2012 Coll., on Commercial Companies and Cooperatives (Commercial Corporation Act). '
9. in Article 6 (5) (g):
"(g) a description of the fact on the basis of which a person under point (a) becomes a person controlling 8) of the applicant when control takes place.";
10. in Article 3 (6) (a) and (7) (a) and Article 6 (6) (a) and (7) (a), the words "under control contracts 8)" shall be deleted;
11. in Article 5 (4):
"(4) Annexes containing information related to the requested activities of a small-scale payment service provider are:
(a) a business plan in which the applicant also assesses compliance with the limits under Article 36 (2) of the Act, with sufficient planning for the first 12 months of the activities required;
(b) a description of the arrangements for the implementation of individual payment services pursuant to Article 8 (1) of the Act and the activities related thereto which the applicant intends to provide, taking into account the applicant's individual conditions, in particular a description of the handling of cash and non-cash cash means, the course of the payment transaction including the acceptance and execution of payment orders, the issue of payment instruments and the provision of credit; and
(c) the method chosen to protect the funds entrusted to execute the payment transaction; depending on the method of protection chosen pursuant to § 20 (1) or (2) of the Act, the procedures for ensuring the proper and separate registration of such entrusted funds and their deposit in a separate account and the rules on the investment of funds, or the draft insurance contract or contract providing for another comparable guarantee, together with the confirmation of a person pursuant to § 20 (3) of the Act, that, in the case of the entry of an applicant in the register of small-scale payment service providers, the contract will be concluded. ';
12. in Article 6 (2) and (3):
"(2) Annexes containing basic information on the applicant shall be:
(a) proof of a business authorisation;
(b) proof of origin of the initial capital and, where applicable, other financial resources and the extent of the paying-up of the capital, unless this information is apparent from the document of the business authorisation;
(c) financial statements; and
(d) a list of applications for annulment of decisions of the applicant's highest authority which, at the date on which the application was lodged, have not been definitively closed, where such applications have been made and where such proposals are likely to have a significant impact on the continued functioning of the company.
(3) Annexes containing information related to the requested activity of the electronic money institution shall be:
(a) a business plan;
(b) a description of the management and control system within the scope of Section 52c (1) to (5) of the Act and of this Decree;
(c) the method chosen to protect funds pursuant to Article 52e (1) or (2) of the Act, if it is the funds against which electronic money is to be issued or the funds entrusted for the execution of a payment transaction not involving electronic money; depending on the method of protection chosen, the procedures to ensure the proper and separate registration of such funds and their deposit in a separate account and the rules for investing funds, or a draft insurance contract or contract providing for another comparable guarantee, together with the confirmation of a person under Section 52e (3) of the Act that, in the case of an authorisation to operate an electronic money institution, the contract will be concluded;
(d) a description of how the individual activities under Section 46 (2) of the Act and related activities which the applicant intends to provide, taking into account the individual conditions of the applicant, in particular a description of the issuance and storage of electronic money and the execution of payment transactions, including their exchange, the handling of cash and non-cash cash means, the course of the payment transaction including the acceptance and execution of payment orders, the issue of payment instruments and the provision of credit;
(e) a description of the personnel, organisational and technical security of the various activities, which shall always include the expected number of staff divided into the relevant organisational departments, a description of the information system, the accounting and financial reporting system, and, where the applicant intends to use the commercial agents, a description of their activities and checks,
(f) a description of the subject matter, scope and manner in which an electronic money institution carries out business activities other than those for which authorisation under the law is required; and
(g) the draft approach to be applied by the electronic money institution in the calculation of the capital requirement to cover the risks associated with the provision of payment services not related to electronic money, including the justification for the proposed approach, the data used for the calculation of capital adequacy and the calculation of capital adequacy according to all approaches in the structure according to the report on the capital of the electronic money institution provided by the Order on the submission of information by the Czech National Bank20). "
13.
Notification of intention to acquire or increase qualified participation in, or control, an electronic money institution
(K § 52b (4) of the Act)
(1) Notification of the intention to acquire or increase qualified participation in or control an electronic money institution shall be made on a form the model of which is set out in Annex 6 to this Order. The notification shall include the annexes referred to in paragraph 2.
(2) Annexes containing basic information on a person who intends to acquire or increase qualified participation in or control an electronic money institution (the notifier) and other information related to that purpose are:
(a) proof of a business authorisation;
(b) proof of origin of the financial resources from which the acquisition or increase of a qualifying holding is covered;
(c) financial statements;
(d) information on persons with close links;
(e) a description of the relations with the electronic money institution in which it intends to acquire or increase qualified participation or control it and relations with persons with a special relationship (9) to the electronic money institution, but at least to persons who are the heads or members of the supervisory board of the electronic money institution;
(f) the list of managers, where the notifier is a legal person, and, for each person included in that list, the proof of integrity issued by a foreign State and the questionnaire referred to in Annex 2 to this Decree, except for the basic information listed in Part A of this Annex;
(g) a list of persons who, acting in accordance with the person submitting the notification, have, acquire or increase qualified participation in, or control the electronic money institution, with details of such persons, indicating the amount of the share or other form of participation in, and a description of the facts on the basis of which the compliance practice takes place;
(h) strategic plan;
(i) proof of integrity issued by the foreign State of the notifier;
(j) the questionnaire provided for in Annex 3 to this Regulation completed by the notifier; and
(k) a description of the fact on the basis of which the notifier becomes a person controlling 8) the electronic money institution and a proof of the origin of the financial resources to be used to buy up the share of the non-controlling shareholder. ';
Article 14 (8) is deleted, including the title.
15.
Specific provisions to notify or control the intention to acquire or increase qualified participation in an electronic money institution
(1) If the notifier is the intention to acquire or increase qualified participation in an electronic money institution or to be controlled by a person who has been the Czech National Bank for the last 5 years
(a) has given consent to acquire or increase qualifying holdings in or control of an electronic money institution; or
(b) has not expressed, on the basis of the notification submitted, the intention to acquire or increase qualified participation in an electronic money institution or to control its opposition;
it gives a notification on a form, the model of which is set out in Annex 6 to this Order, to which it shall accompany the annexes referred to in Article 7 (2), which have been amended and a statement that the other information and supporting documents submitted to the Czech National Bank in the previous application for approval or notification of the project remain unchanged.
(2) Where the notifier is the intention to acquire or increase a qualifying participation in an electronic money institution or to be controlled by a legal person who is an institution, financial institution or other person engaged in a financial market which has its registered office in a Member State and is subject to supervision by a competent authority in the State of its registered office, it shall submit a notification on a form, the model of which is set out in Annex 6 to this Regulation, accompanied by:
(a) proof of a business authorisation;
(b) a strategic plan,
(c) proof of origin of the financial resources from which the acquisition or increase of the qualifying holding is covered;
(d) a statement by the supervisory authority that it is not known that the person is not a trustworthy person; and
(e) a description of the fact on the basis of which the notifier becomes a person controlling 8) an electronic money institution and a proof of the origin of the financial resources to be used to buy up the share of a non-controlling shareholder.
(3) Where the notifier is the intention to acquire or increase a qualifying participation in an electronic money institution or to be controlled by a person having a qualifying participation in an institution, a financial institution or another person engaged in a financial market situated in a Member State and subject to the supervision of a competent authority in the Member State of its registered office which has assessed the credibility of the notifier, the notifier shall submit a notification in a form, the model of which is set out in Annex 6 to this Regulation, accompanied by the Annexes referred to in paragraph 2 (a), (b) and (e), and
(a) a statement by the authority which oversees the institution, financial institution or other person operating in the financial market that it is not known that the notifier is not a trustworthy person; and
(b) proof of the origin of the financial resources from which the acquisition or increase of the qualifying holding is covered, if it is a direct share of the electronic money institution. ";
16. in Article 11 (4):
"(4) Annexes containing information related to the requested activity of the small-scale electronic money issuer are:
(a) a business plan in which the applicant also assesses compliance with the limits under § 53 (2) of the Act, or limits under § 53 (3) of the Act, with the fact that the plan is sufficient for the first 12 months of the activity required;
(b) a description of the manner in which the individual activities under Section 46 (2) of the Act and related activities are to be carried out by the applicant, taking into account the individual conditions of the applicant, in particular a description of the issuance and storage of electronic money and the execution of payment transactions, including their exchange, the handling of cash and non-cash funds, the conduct of the payment transaction including the acceptance and execution of payment orders, the issue of payment instruments and the provision of credit; and
(c) the method chosen to protect funds pursuant to Article 52e (1) or (2) of the Act, if it is the funds against which electronic money is to be issued or the funds entrusted for the execution of a payment transaction not involving electronic money; the following paragraph is added:
17. In Paragraph 27, the following paragraph 3 is inserted after paragraph 2:
"(3) Payment institutions shall ensure that the following activities are always carried out when carrying out internal audits:
(a) a risk analysis shall be established at least once a year;
(b) establish a strategic and periodic internal audit plan;
(c) a system for monitoring corrective actions imposed on the basis of internal audit findings is established and maintained; and
(d) evaluation of the functionality and effectiveness of the management and control system, at least once a year. "
Paragraph 3 shall become paragraph 4.
18. In Article 36, the words "the European Parliament and the Council (EU) No 575 / 2013 of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648 / 2012 (" the Regulation ')' are deleted.
19. in Paragraph 37, the word "others" shall be deleted;
20. in Paragraph 41, the following paragraph 4 is added:
"(4) If a payment institution has only started to operate during the current accounting year, it shall determine the volume of payments on the basis of its plan, adjusted as required by the Czech National Bank."
21. Paragraph 42 (4) reads:
"(4) Where the value of the relevant indicator referred to in paragraph 2 is less than 80% of the average of the values of the relevant indicators for the last 3 financial years, 80% of the average of the values of the relevant indicators for the last 3 financial years shall be used as the value of the relevant indicator for the purposes of determining the capital requirement under paragraph 1. ';
22. Paragraph 51 to 53, including the title, read:
"Notification of performance in the host Member State
A payment institution shall notify its intention to carry out its activities in accordance with Article 8 of the law in the host Member State by means of a branch on a form the model of which is set out in Annex 10 to this Order, stating that it does not provide the information listed in Parts B and C of this form.
A payment institution intending to carry out activities under Paragraph 8 of the Act in the host Member State without the establishment of a branch shall submit a notification on a form, the specimen of which is set out in Annex 10 to this Order, stating that it does not provide the information referred to in point 7 and parts A to C of this form.
A payment institution intending to carry out activities under Section 8 of the Act through a commercial agent in the host Member State shall submit a notification on a form, a model of which is set out in Annex 10 to this Order, stating that it does not provide the information referred to in point 7 and in Part A of this form. ';
23. Annex 10 shall read as follows:
"Annex No 10 to Decree No 141 / 2011 Coll.
"
Efficacy
This Decision shall enter into force on 1 December 2014.
Governor:
Ing. Singer, Ph.D., v. r.
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Regulation Information
| Citation | Decree No 233 / 2014 Coll., amending Decree No 141 / 2011 Coll., on the performance of the activities of payment institutions, electronic money institutions, small-scale payment service providers and small-scale electronic money publishers, as amended by Decree No 31 / 2014 Coll. |
|---|---|
| Regulation Type | Order |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 06.11.2014 |
|---|---|
| Effective from | 01.12.2014 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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