Decree No. 238 / 2008 Coll.
Decree amending Decree No. 58 / 2006 Coll., on the method of keeping separate registration of investment instruments and records relating to separate registration of investment instruments
Valid
Order
Effective from 01.07.2008
238
DECLARATION
of 23 June 2008
amending Decree No. 58 / 2006 Coll., on the method of keeping separate records of investment instruments and records relating to separate records of investment instruments
Pursuant to § 199 (2) of Act No. 256 / 2004 Coll., on the Capital Market Business, as amended by Act No. 230 / 2008 Coll., the Czech National Bank provides for the implementation of § 93 (4) and (6):
Decree No. 58 / 2006 Coll., on the method of keeping separate records of investment instruments and records relating to separate records of investment instruments, is amended as follows:
1. in § 2 (d) (5):
"5. the crediting of a foreign security to an account held abroad for a person holding a record or debiting a foreign security from an account held abroad for a person holding a record,"
2. In Article 3, the following paragraph 7 is added:
"(7) The provisions of paragraphs 1 to 6 shall not apply to foreign persons authorised by the supervisory authority of another Member State of the European Union to provide investment services. ';
3. In Paragraph 5 (1), the word "special 'is replaced by" other'.
4. In Section 5 (2), footnote 2 reads:
"(2) For example, § 4 (6) of the Capital Market Enterprise Act, as amended by Act No. 230 / 2008 Coll. '.
5. In Section 5 (3) of the introductory part of the provision, the words "(§ 28 of the Act) 'are replaced by the words" pursuant to Section 28 of the Act'.
6. In Article 5 (3) (b), the words "entrusted to the obliged person 'are replaced by the words" taken over by the obliged person' and the words "under Article 93 (1) (c) of the Act 'are inserted after the words" foreign securities'.
7. in Article 6 (1) (c), "§ 2 (b)" is replaced by "§ 2 (1) (j)" and square brackets are deleted.
8. in Article 6 (1) (d), the words "(§ 12, 15, 18 and 21)" shall be replaced by the words "§ 12 (1) and (2), § 15, 18 and 21."
9. In Article 6, at the end of paragraph 1, the dot is replaced by a comma and the following point (e) is added:
"(e) details of separately transferable rights pursuant to Article 12 (3)."
10.Paragraph 6 (3) reads as follows:
"(3) The owner's account held for a natural person who has not been assigned a birth number shall also include a designation which clearly identifies the natural person in the register. The property account held for a legal person who has not been assigned an identification number shall also contain a designation which clearly identifies it in the register. ';
11. in Article 6 (4) of the introductory part of the provision, the words "in a separate register" shall be deleted;
12. in Article 6 (4) (b), "a" is deleted;
13. in Article 6 (4) (c):
"(c) information on investment vehicles pursuant to Articles 12 (1), 15 (1), 18 (1) and 21 (1),"
14. in Article 6, the following point (d) is added at the end of paragraph 4:
"(d) data on separately transferable rights pursuant to Article 12 (3)."
15. In the introductory part of Section 10 of the provision, the words "Paragraph 12 (3) 'are replaced by the words" Paragraph 12c (1)' and the words "Securities Commission 'are replaced by the words" Czech National Bank' and the square brackets are deleted.
16. In the first sentence of Paragraph 11, the words "units of an open holding fund 'are replaced by the words" collective investment securities'; in the second sentence, the words "entrustment of this investment instrument to a third party 'are replaced by the words" takeover of this investment instrument by a third party'.
17. In the heading of Part Two, the words "SPOT-OPEN SPOT FUND 'are replaced by the words" COLLECTIVE INVESTMENT PRICES'.
18. Paragraph 12 to 14, including the headings and footnotes 5, read:
Data recorded in an equity account on book-entry collective investment securities and separately transferable rights
(1) The data on book entry of collective investment securities in an asset account are in particular:
(a) the type of security;
(b) the particulars of the security provided for by other legislation5),
(c) identification markings under the international numbering system for securities identification (ISIN); if ISIN has not been allocated, other unique security marking, if assigned;
(d) the number of securities;
(e) restrictions on the transferability of a security as determined by the issuer.
(2) In addition to the information referred to in paragraph 1, information on:
(a) the security lien and an indication of the person of the lien creditor pursuant to § 2 (1) (j) of the Act;
(b) the person entitled to exercise the rights attaching to the security under Article 2 (1) (j) of the Act;
(c) the suspension of the exercise of the right of the owner to dispose of the security, the particulars of the person referred to in Article 2 (1) (j) of the law whose order has suspended the handling of the security and the time for which the handling of the security is suspended;
(d) the separation of separately transferable rights from the security, indicating which separately transferable rights are involved, including clearly distinguishing data.
(3) The data on separately transferable rights separated from the book-entry of the collective investment security which are separately recorded in the property account are in particular:
(a) the determination of the separately transferable right by indicating:
(1) ISIN; or, if ISIN has not been assigned, another clear indication, if assigned; or
2. a description of the separately transferable right, with clearly distinguishing information, including the identification of the security from which the separately transferable right has been separated, the information referred to in paragraph 1 (b) or (c);
(b) the number of units of a separately transferable right where the distribution of the right per unit is considered.
Reconciliation of separate records and subsequent records of book-entry collective investment securities
(1) The person responsible for keeping a separate register of book-entry securities for collective investment shall, after the closure of each operating day, verify that the total number of substitutable securities registered in property accounts is equal to the total number of securities issued and that the total number of separately transferable rights separated from securities that are recorded in property accounts is equal to the total number of separately transferable securities issued.
(2) The following person shall verify, after the closure of each operating day, that the total number of substitutable securities registered in the property accounts matches the number of substitutable securities registered in the customer account held in the separate register for the person managing the underlying and that the total number of separately transferable rights separated from the securities that are registered in the property accounts coincides with the total number of separately transferable rights registered in the customer account for the person managing the account.
Reporting of issues of book-entry collective investment securities
(1) If the book-entry securities of collective investment are entered in separate accounts, the person holding the separate register shall keep an issue record for the issuer of those securities.
(2) The recording of the issue of book-entry collective investment securities contains:
(a) the information provided for in Article 12 (1) (a) to (c) and (e);
(b) an indication of the total number of securities issued in the issue;
(c) information on the holders of securities pursuant to Article 2 (1) (j) of the Act;
(d) an indication of the number of securities of individual owners;
(e) details of the co-owners of the security referred to in Article 2 (1) (j) of the Act and the size of their co-ownership interests, provided that they are entered in property accounts pursuant to Article 6 (2);
(f) the information referred to in Article 12 (2).
(3) The data referred to in paragraph 2 (c) to (f) are recorded in the emission record only when an emission record is issued.
(4) An extract from the emission record shall be issued according to the status on which the issuer applied for the extract from the register at the closing date. Emission records shall include:
(a) an indication that it is an extract from the record of an issue in the separate register of investment vehicles;
(b) details of the person holding the separate register pursuant to § 2 (1) (j) of the Act issuing the extract of the emission records;
(c) the data recorded in the emission register referred to in paragraph 2 (a) to (e) and Article 12 (2) (a), (b) and (d); an indication of the data referred to in Article 12 (1) (b) is not required if the statement on the emission record indicates the information referred to in Article 12 (1) (c) in conjunction with the issuer's trading firm;
(d) the operating day on which the extract from the emission register is issued;
(e) the date on which the extract from the emission record is issued.
(5) In addition to the information referred to in paragraph 4, the extract from the record of the issue issued for the purpose of converting the form of a book-entry collective investment security shall contain data on the suspension of the exercise of the right of the owner to dispose of the security, data on the person referred to in Article 2 (1) (b). (j) the law or designation of the court or authority under whose order the handling of the security has been suspended and the period for which the handling of the security is suspended.
(6) Upon request by the person responsible for the record-keeping, the person responsible for the record-keeping shall provide the data referred to in paragraphs 3 (c) to (f), 4 (d) and (e) and 5.
(7) Paragraphs 1 to 6 shall apply mutatis mutandis to separately transferable rights separated from book-entry collective investment securities pursuant to Article 12 (3).
5) Act No. 189 / 2004 Coll. and Act No. 513 / 1991 Coll., Commercial Code, as amended. '
19. in Articles 15 (2) (a) and 18 (2) (a), the words "related to a security" are replaced by the words "from a security, indicating the right to transfer itself, including clearly distinguishing information."
20. in Articles 17 (2), 20 (2) and 22, the words "owners' accounts" are replaced by the words "property accounts."
21. in Paragraph 21 (1) (b), the word "special" shall be replaced by "other" and the reference to footnote 5 shall be inserted after the word "regulation."
22. In Article 23 (2), the word "truthfulness' is replaced by" correctness' and the words "units' are replaced by" collective investment securities'.
Efficacy
This Decree shall take effect on 1 July 2008.
Governor:
Doc. Ing. Tůma, CSc.
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Regulation Information
| Citation | Decree No. 238 / 2008 Coll., amending Decree No. 58 / 2006 Coll., on the method of keeping separate registration of investment instruments and records relating to separate registration of investment instruments |
|---|---|
| Regulation Type | Order |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 30.06.2008 |
|---|---|
| Effective from | 01.07.2008 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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