Act No. 248 / 2008 Coll.
Act amending Act No. 340 / 2006 Coll., on the Activities of Occupational Pensions Institutions from Member States of the European Union in the Czech Republic and amending Act No. 48 / 1997 Coll., on Public Health Insurance and on the Amendment and Addition of Certain Related Acts, as amended
Valid
Law
Effective from 04.07.2008
Text versions:
04.07.2008
248
THE LAW
of 5 June 2008
amending Act No. 340 / 2006 Coll., on the Activities of Occupational Pensions Institutions from the Member States of the European Union in the Czech Republic and amending Act No. 48 / 1997 Coll., on Public Health Insurance, and amending and supplementing certain related laws, as amended
Parliament has decided on this law of the Czech Republic:
Act No. 340 / 2006 Coll., on the activities of occupational pension institutions from the Member States of the European Union in the territory of the Czech Republic and amending Act No. 48 / 1997 Coll., on Public Health Insurance and amending and supplementing certain related acts, as amended, is amended as follows:
1. In the title of the law, the words "or other States Parties to the Agreement on the European Economic Area 'shall be inserted after the words" from the Member States of the European Union'.
2. The heading of Part One reads: "THE ACTIVITIES OF THE INSTITUTIONS OF EMPLOYMENT PENSION INSURANCE FROM THE MEMBER STATES OF THE EUROPEAN UNION OR OTHER STATES WHICH ARE CONTRACTING PARTIES TO THE AGREEMENT ON THE EUROPEAN ECONOMIC AREA, ON THE TERRITORY OF THE CZECH REPUBLIC '.
3. In Article 1 (1), the words "pension plans and activities resulting therefrom 'are replaced by the words" occupational pension insurance' and the words "from Member States of the European Union (hereinafter referred to as" Member State ')' are replaced by the words "which have been authorised to do so in a Member State of the European Union other than the Czech Republic or another State which is a Contracting Party to the Agreement on the European Economic Area '.
4. In Article 1 (2), the words "accident insurance," shall be inserted after the words "pension insurance,"
5. in Article 2, the following point (b) is inserted after point (a):
"(b) a Member State of the European Union or another Member State which is a Contracting Party to the Agreement on the European Economic Area,"
Points (b) to (h) shall be renumbered (c) to (i).
6. in Article 2 (e):
"(e) a contributor to a legal person or an undertaking natural person who, as an employer, pays contributions to an institution for occupational pension insurance for the benefit of its employees or for his benefit if the employer is a self-employed person;"
7. Paragraph 3 (2) reads as follows:
"(2) The Czech National Bank is cooperating with the Ministry of Labour and Social Affairs in the exercise of its competence under this Act on matters falling within its competence."
8. in § 4 (a):
"(a) communicate to the competent authority of the home Member State within 2 months from the date on which it received information on the intention of the institution to pursue occupational pension insurance in the Czech Republic, including the main characteristics of the pension plan, and the designation of a specific contributor
1. requirements of the legislation of the Czech Republic relating to occupational pension insurance,
2. information on investment limits applicable to the activities of the institution in the Czech Republic;
3. the scope of the information that the institution is required to provide to participants and recipients in the Czech Republic, '.
9. in Article 4 (b), the word "significant" shall be inserted after the words "other Member States."
10. in Article 4 (c) and (d), the words "pension plans and activities resulting therefrom" shall be replaced by "occupational pension insurance."
11.
Activities of the institution in the Czech Republic
(1) An institution may carry on business in the Czech Republic if:
(a) it has been authorised by the competent authority of the home Member State to conduct occupational retirement provision; and
(b) The Czech National Bank has informed the competent authority of the home Member State in accordance with § 4 (a) or the deadline under § 4 (a) has expired.
(2) The institution referred to in paragraph 1 shall carry out its activities on the territory of the Czech Republic in accordance with the permit granted for the activity, the legislation of the home Member State and the legislation of the Czech Republic relating to occupational pension insurance.
(3) The institution referred to in paragraph 1 may only carry out occupational pension insurance on the territory of the Czech Republic. "
12. in Article 6 (2) of the introductory part of the provision, the words "operated by institutions" are replaced by the words "institutions engaged in occupational retirement provision."
13. in the first sentence of Article 7 (2), the words "operated for contributors" shall be deleted and the words "operation of pensions" shall be replaced by the words "pension."
14.
Supervision of the Czech National Bank
(1) The activities of the institution in the Czech Republic are subject to supervision by the Czech National Bank of compliance with the obligations laid down by the legislation relating to occupational pension insurance. To this end, the Czech National Bank is entitled to require the institution to submit documents and to provide information and explanations relating to the operation of occupational pension schemes, in particular to sound financial statements, annual reports and statements on the principles of investment policy.
(2) After prior notification to the Czech National Bank, the competent authority of the home Member State shall be entitled to carry out an on-the-spot check with the institution which carries out its activities in the Czech Republic.
(3) If the competent authority of the home Member State of the institution that carries out its activities on the territory of the Czech Republic requests the Czech National Bank to cooperate in the supervision of the institution, the Czech National Bank shall comply with the request.
(4) If the Czech National Bank finds that an institution operating in the territory of the Czech Republic has infringed the legislation relating to occupational pension insurance, it shall inform the competent authority of the home Member State of the institution without undue delay and shall require that institution to remedy the deficiencies identified by the Czech National Bank within the time limit set by the Czech National Bank.
(5) If the institutions do not remedy the deficiencies referred to in paragraph 4, the Czech National Bank will ask the competent authority of the home Member State to take the necessary measures without delay to remedy the deficiencies identified.
(6) If the measures taken by the competent supervisory authority of the home Member State do not lead to the resolution of the identified deficiencies in the institution's activities or if no action has been taken, the Czech National Bank may, after informing the competent authority of the home Member State and depending on the nature of the infringement and its gravity:
(a) prohibit the free disposal of assets held by an institution held by a depositary of a collective investment fund established in the territory of the Czech Republic or another entity established in the territory of the Czech Republic which carries out a similar activity as the depositary; or
(b) prohibit or restrict the activities of an institution within the territory of the Czech Republic; information on the prohibition or restriction of activities of the Czech National Bank shall be included in the list referred to in Article 4 (e). ';
15. The following Section 8a is inserted after Section 8:
Order fine
(1) An institution which makes it impossible or seriously difficult to exercise supervision by the Czech National Bank by not providing it with the required synergies pursuant to § 8 (1) may impose an order fine of up to CZK 500,000.
(2) Order fines may be imposed within 6 months of the date on which the infringement took place.
(3) When determining the amount of the order of order, the Czech National Bank shall ensure that it is not disproportionately disproportionate to the seriousness of the consequences and the importance of the subject matter of the proceedings; The fine may also be repeated. The sum of fines imposed may not exceed CZK 2 000 000 for the same person.
(4) A party to an order fine proceedings shall be the person to whom the order fine is to be imposed. The first action in the proceedings concerning the imposition of an order fine shall be the decision. An appeal against a decision imposing a fine shall always have suspensory effect.
(5) The Czech National Bank can forgive or reduce the ordered fine by a new decision. In so doing, the administrative authority shall take into account in particular how the person to whom the order fined has been imposed fulfils its procedural obligations during the course of the proceedings.
(6) Order fine is collected by the Czech National Bank and enforced by the competent customs office. The income from fines imposed under this law is the income of the state budget. '
16.
Administrative offences of legal persons
(1) A depositary of a collective investment fund or other body which freely treats the assets of an institution which is established in the Czech Republic and thereby carries out a similar activity as a depositary shall commit an administrative offence by treating the assets of the institution which it holds in breach of Article 8 (6) (a).
(2) An institution commits an administrative offence by:
(a) infringes the obligation under Article 7; or
(b) in breach of Article 8 (5), it shall not remedy the deficiencies identified.
(3) For an administrative offence referred to in paragraph 1 or paragraph 2 (b), a fine of up to CZK 2 000 000 shall be imposed and an administrative offence of up to CZK 1 000 000 as referred to in paragraph 2 (a). "
17. in Article 10, paragraph 5 is deleted;
Paragraph 6 shall become paragraph 5.
18.Paragraph 10 (5) reads as follows:
"(5) Fines for administrative offences under this law are collected by the Czech National Bank and enforced by the competent customs office. The income from fines imposed under this law is the income of the state budget. '
Transitional provisions
1. Administrative proceedings initiated before the date of entry into force of this Act shall be completed in accordance with the existing rules.
2. Penalties not recovered by the date of entry into force of this Act shall be enforced by the competent customs office.
Entitlement to declare the full text of the law
The Prime Minister is hereby authorised to publish in the Collection of Laws the full text of Act No. 340 / 2006 Coll., on the activities of occupational pension institutions from the Member States of the European Union in the territory of the Czech Republic and on the amendment of Act No. 48 / 1997 Coll., on Public Health Insurance and on the amendment and addition of certain related laws, as is apparent from the amendments made by this Act.
Efficacy
This Act shall take effect on the day of its publication.
Wolf
Klaus v. r.
Topolánek v. r.
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Regulation Information
| Citation | Act No. 248 / 2008 Coll., amending Act No. 340 / 2006 Coll., on the Activities of Occupational Pensions Institutions from Member States of the European Union in the Czech Republic and amending Act No. 48 / 1997 Coll., on Public Health Insurance and on the Amendment and Addition of Certain Related Acts, as amended |
|---|---|
| Regulation Type | Law |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 04.07.2008 |
|---|---|
| Effective from | 04.07.2008 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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