Decree No. 248 / 2013 Coll.
Decree amending Decree No. 233 / 2009 Coll., on applications, approval of persons and method of demonstrating professional competence, credibility and experience of persons, as amended
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Effective from 19.08.2013
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19.08.2013
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248
DECLARATION
of 24 July 2013
amending Decree No 233 / 2009 Coll., on applications, authorisation of persons and the method of demonstrating the competence, credibility and experience of persons, as amended
The Czech National Bank provides pursuant to § 4 (8), § 5 (5), § 20 (4) and § 26g (6) of Act No. 21 / 1992 Coll., as amended, § 2a (1) and § 97 (8) (c), § 111 (8) of Act No. 87 / 1995 Coll., as amended, § 170 of Act No. 427 / 2011 Coll., § 44 (1), § 69 (1), § 81, § 96 (5), § 97 (8) (3), § 35 (5), § 39 (4), § 44 (1), § 65 (1), § 69 (1), § 81), § 97 (3), § 35), § 35 (5), § 35), § 39 (4), § 44 (1) (1), § 69 (1), § 69 (1), § 4), § 69 (1), § 97 (5), § 97 (8) (c), § 109 (6), § 5), § 5), § 111 (6), § 5), § 5), § 5, § 5
Decree No 233 / 2009 Coll., on applications, authorisation of persons and the method of demonstrating the professional competence, credibility and experience of persons, as amended by Decree No 192 / 2011 Coll., Decree No 58 / 2012 Coll. and Decree No 372 / 2012 Coll., are amended as follows:
1. Paragraph 1 (1) reads as follows:
Subject matter
(1) This Order sets out the models of the application forms and forms and the content of their annexes where the applicant requests
(a) a bank licence for a bank located in the Czech Republic (hereinafter referred to as "bank licence"), a bank licence for a foreign bank from a Member State other than a Member State which intends to establish a branch in the Czech Republic (hereinafter referred to as "a bank branch from a non-Member State"),
(b) permit for the creation and business of a savings and credit cooperative (hereinafter referred to as "permit for the cooperative reserve"),
(c) an authorisation to operate a securities dealer, a regulated market operator, a CSD, to operate a settlement system with irrevocable settlement (hereinafter referred to as "settlement system"), to operate a CCP, to provide investment services through an organisational component of a foreign person established in a non-Member State;
(d) authorisation to operate a pension company;
(e) prior consent to the post of Head of Mission;
(f) consent to the acquisition or increase of a qualifying holding in a legal entity that is a bank, cooperative reserve, a securities dealer, an organised market operator, a CSD, a central counterparty, a pension company (hereinafter referred to as "regulated legal entity") or to the control of such persons;
(g) an authorisation to convert a company or to conclude a contract to transfer, stop or rent a company;
(h) the registration of the investment intermediary and its activities;
(i) entry in lists of tied agents, liquidators and forced administrators;
(j) registration of further business activities;
(k) authorisation to create a participating fund or pension funds;
(l) authorisation to transfer the management of all participating funds or pension funds to another pension company;
(m) authorisation for the merger of participating funds or pension funds;
(n) the approval and amendment of the status of the participating fund or pension fund;
(o) approval of the change of depositary; or
(p) withdrawal of a permit for the activity of a pension company or withdrawal of a permit for the creation of a participating fund. ';
2. Paragraph 2 (j) reads as follows:
"(j) the person referred to in:
1. Paragraph 2 (1) (a) of the Capital Market Act,
2. § 4 (5) (e) or § 5 (4) (c) of the Banking Act,
3. Paragraph 2a (4) (b) of the Act on savings and credit cooperatives,
4. § 3 (g) of the supplementary pension savings law; and
5. § 3 (e) of the Pension Savings Act, '.
3. In Article 3 (2), the words "a 'are replaced by" a' after "§ 90a (3) 'and the words" and § 192b (2)' are inserted after "§ 103 (3) '.
4. Paragraph 3 is deleted.
Paragraphs 4 and 5 shall be renumbered paragraphs 3 and 4.
5. in Paragraph 3 (4), the words "paragraphs 1 to 4 'are replaced by the words" paragraphs 1 to 3';
6. In Paragraph 4 (1), at the end of point (d), the word "a 'is replaced by a comma.
7. In Article 4, at the end of paragraph 1, the dot is replaced by a comma and the following points (f) and (g) are added:
"(f) the form, the specimen of which is in Annex 4 to this Decree, Part B and D, signed by the applicant; and
(g) proof of integrity issued by a foreign State. "
8. in Article 4 (3) (c):
"(c) a form, the specimen of which is in Annex 4 to this Order, Part B and D, signed by each person with a qualified participation in the applicant and by each person who has a qualified participation in the applicant by acting in agreement with another person;"
9. The following Section 11a is inserted after Section 11:
Central counterparty
(K § 192b (2) of the Capital Market Act)
(1) In the case of an application for authorisation to operate a CCP, the applicant shall proceed in accordance with Article 3 (2). In addition to the annexes referred to in Section 4, they are annexed to the application:
(a) internal rules governing the management and control system, containing in particular:
1. organisational arrangements,
2. a risk management system, including identifying and limiting potential conflicts of interest;
3. internal control system,
4. Capital and capital requirements strategy; and
5. remuneration system,
(b) draft rules for participation and access to the CCP's clearing system;
(c) draft rules for settlement of transactions via a CCP;
(d) draft procedures for the management of clearing members' accounts;
(e) the design of the technical security of the proposed scope of the CCP's activities;
(f) draft procedures for the management of the information system, including security, backup and archiving of data;
(g) the draft business continuity procedures and the recovery plan of the CCP;
(h) draft procedures applied in the event of a default of a clearing member;
(i) a list of persons who will be provided as heads of organisation or as separate persons
1. clearing activity;
2. ongoing monitoring of compliance with the obligations of the CCP arising from the law and internal rules of the CCP and from contractual relations;
3. risk management; and
4. performance of internal audit,
(j) biographies of all persons included in the list referred to in (i)
1. data on education [§ 2 (i)]; and
2. data on professional experience [§ 2 (h)],
(k) the list of activities which the CCP intends to carry out through another person and the manner in which the conditions for carrying out the activities through another person are met; and
(l) a business plan [§ 2 (e)].
(2) The Annexes referred to in Article 4 (2) shall also be submitted as persons who are members of the Supervisory Board or of the Management Board in a supervisory capacity, depending on the internal structure of the company. ';
10. In Part Two, Title Four, including the title, reads:
PENSION COMPANY
(Paragraph 33 (3) of the Supplementary Savings Act)
(1) In the case of an application for authorisation to operate a pension company, the applicant shall proceed in accordance with Article 3 (3).
(2) In addition to the Annexes referred to in Sections 4 (1) (a) and (c), (2) and (3), the applicant shall also accompany the application:
(a) a business plan [§ 2 (e)];
(b) a proposal for internal rules of the pension company including in particular:
1. organisational arrangements,
2. rules on the prudent exercise of the activities of the pension company; and
3. rules of conduct in the performance of the activities of the pension company,
(c) a list of persons who will be provided as heads of organisation or as separate persons
1. the exercise of the activities of a pension company consisting of the management of pension funds or participating funds;
2. Continuous monitoring of compliance with the obligations of the pension company arising from the legislation and internal rules of the pension company and from contractual relations with the funds and depositories managed;
3. risk management; and
4. performance of internal audit,
(d) biographies of all persons included in the list referred to in (c) containing:
1. data on education [§ 2 (i)]; and
2. data on professional experience [§ 2 (h)]; and
(e) a list of the activities which the pension company intends to carry out through another person and the manner in which the conditions for carrying out the activities are met by another person.
(3) According to the scope of the activities carried out by the pension company, the applicant shall also:
(a) the design of the way in which the information is processed and recorded, the communication with participants, the keeping of accounts and the keeping of the participants' personal pension accounts and the personal pension accounts;
(b) a proposal for a method of technical security of performance and the provision of services via the Internet;
(c) evidence of a direct link with the depositary or, where appropriate, other persons to conduct trading in or keeping records of the property of the participating fund or pension fund; and
(d) evidence of a direct or intermediary connection with persons handling transactions in investment vehicles. ';
footnotes 14a to 14e are deleted.
11. In Part Two, Title V, including the title, is deleted.
Titles VI and VII shall be renumbered Titles V and VI.
12. In Article 15 of the heading of the text in brackets, the words ", Article 72 (6) of the Collective Investment Act 'are deleted.
13. In Article 18 of the heading of the text in brackets, the words ", Article 71b (4) of the Collective Investment Act 'are deleted.
14. in Article 18 (4) (b) and (c):
"(b) a form, the specimen of which is in Annex 4 to this Decree, Part B and D, completed and signed by the applicant and each natural person referred to in point (a); and
(c) the original of the proof of integrity issued by the applicant's foreign State and each person referred to in (a). ';
15. In Article 19 of the heading of the text in brackets, the words "Section 71b (4) of the Collective Investment Act" are deleted.
16. In Section 21, in the title of the text in brackets, the words "Section 96 (2) of the Collective Investment Act 'are deleted.
17. in Article 21, paragraphs 3 and 4 are deleted;
Paragraph 5 shall become paragraph 3.
18. in Article 22 (3) (e), the words "the applicant" shall be inserted after the words "Article 2 (c)";
19. in Paragraph 22 (3), the word "a" is replaced by a comma after (g).
20. In Paragraph 22, at the end of paragraph 3, the dot is replaced by a comma and the following point (i) is added:
"(i) a form, the specimen of which is in Annex 4 to this Order, Part B and D, signed by the applicant.";
21. in Paragraph 22, paragraph 4 is deleted;
22. The following Section 22a is inserted after Section 22:
Registration or authorisation to distribute supplementary pension savings and pension savings
(1) The application for registration or authorisation of activities related to the distribution of supplementary pension savings and pension savings pursuant to § 74 (1) of the supplementary pension saving law and § 91 (1) of the Pension Savings Act is submitted by an applicant who is:
(a) by an investment intermediary, on a form the model of which is set out in Annex 9 to this Regulation;
(b) by a securities dealer who is a bank or an applicant for a bank licence, on a form the specimen of which is given in Annex 9a thereto; or
(c) by a securities dealer who is not a bank or an applicant for authorisation to operate as a securities dealer, on a form the model of which is set out in Annex No 9b to this Order.
(2) The application referred to in paragraph 1 shall be accompanied by the applicant's evidence of compliance with the conditions of professional competence under Section 84 of the supplementary pension savings law. Furthermore, the non-bank dealer shall provide supporting documents to the application in accordance with § 25 (2) (a) to (c). '
23. In Section 25, in the title of the text in brackets, the words "Article 61 (1) of the Collective Investment Act 'are deleted.
24. Parts 5 and 6, including the headings, read:
PARTICIPATION AND PENSION FUNDS
Authorisation to create a participating fund or pension funds
(To Article 96 (5) of the supplementary pension savings law and Article 26 (5) of the Pension Savings Act)
(1) An application for authorisation to create a participating fund or pension funds shall be made on a form the model of which is set out in Annex 19 to this Order.
(2) The application referred to in paragraph 1 shall be accompanied by:
(a) a list of the managers of the pension company to manage the participating fund or pension funds;
(b) biographies of all persons included in the list referred to in (a) containing:
1. data on education [§ 2 (i)]; and
2. data on professional experience [§ 2 (h)],
(c) a proposal for the status of participating fund or pension funds;
(d) the current amount of equity of the pension company to be managed by the participating fund or pension funds and the current amount of assets in the participating funds, pension funds and the transformed fund managed by that pension company;
(e) data on education [§ 2 (i)] and data on professional experience [§ 2 (h)] by the head of the organisation body of the depositary or, where appropriate, other persons who will provide the activity of the depositary for the participating fund or pension funds;
(f) the depositary's contract or, where applicable, its proposal, together with the depositary's written promise to conclude the contract or future contract concluded with a bank or branch of a foreign bank, which will carry out the activity of the depositary for a participating fund or pension funds; and
(g) the annexes referred to in Article 14a which are affected by changes in the management of the relevant fund or funds for which it applies for authorisation.
Authorisation to transfer all participating funds or pension funds to another pension company
(To Article 109 (6) of the supplementary pension savings law and Article 58 (6) of the Pension Savings Act)
(1) An application for authorisation to transfer the management of all participating funds or pension funds to another pension company shall be made on a form, a specimen of which is given in Annex 19 to this Decree.
(2) The application referred to in paragraph 1 shall be accompanied by:
(a) a description of the conditions and manner in which the participating funds or pension funds are to be transferred to another pension company;
(b) the accounts of the participating pension companies drawn up on the last day of the calendar month preceding the submission of the application;
(c) the accounts of the transferred participating funds or pension funds drawn up on the last day of the calendar month preceding the submission of the application;
(d) information on the transferred participating funds or pension funds, in particular the amount, structure and liquidity of the assets, the number of participants and the performance of the fund;
(e) the current amount of equity taking over pension companies, unless this information is evident from the accounts of the pension company, and the current amount of the assets of the participating funds, pension funds or the transformed fund managed by that pension company;
(f) information on education [§ 2 (i)] and data on professional practice [§ 2 (h)] by the head of the organisation body of the depositary or, where appropriate, other persons who will provide the activity of the depositary for participating funds or pension funds; the documents referred to in this point need not be documented by the depositary of the participating funds or pension funds, if this is the same after the transfer;
(g) the depositary's contract or, where appropriate, its proposal, together with the depositary's written promise to conclude the contract or future contract concluded with a bank or branch of a foreign bank, which will carry out the activities of the depositary for participating funds or pension funds; and
(h) the annexes referred to in Article 14a, which are affected by changes in respect of the transfer of participating funds or pension funds for the recipient pension company.
Merge of participating funds or pension funds
(K § 113 (8) of the Additional Pension Savings Act and Article 61 (4) of the Pension Savings Act)
(1) An application for authorisation for the merger of participating funds or pension funds shall be made on a form the model of which is set out in Annex 19 to this Decree.
(2) The application referred to in paragraph 1 shall be accompanied by:
(a) the merger project, including the effects of the merger on investment limits;
(b) the opinion of the depositary of the participating participating participating participating funds or pension funds;
(c) information on merged participating funds or pension funds, in particular on the amount, structure and liquidity of assets, number of participants, performance, investment focus and fee structure; and
(d) the current amount of the equity of the pension company to be managed by the acquiring receiving participating fund or pension fund and the current amount of the assets of the participating funds, pension funds or the transformed fund managed by that pension company.
Approval of the Statute and its amendments
(K § 97 (8) of the Additional Pension Savings Act and § 45 (8) of the Pension Savings Act)
(1) The application for approval of the Statute of the Participating Fund and its amendments shall be made on a form, a model of which appears in Annex 15 to this Order.
(2) The application referred to in paragraph 1 shall be accompanied by:
(a) the full text of the Statute in force, indicating the proposed amendments which it requests approval, together with the reasons for them; and
(b) a new full text of the Statute.
(3) The provisions of paragraphs 1 to 2 shall apply mutatis mutandis to the application for approval of the Statute of the Pension Fund and its amendments and to the Annexes thereto.
Modification of the depositary
(Paragraph 96 (4) of the supplementary pension savings law and Section 26 (4) of the Pension Savings Act)
(1) An application for approval of an amendment to the depositary of participating funds or pension funds shall be made on a form the model of which is set out in Annex 16 to this Decree.
(2) The application referred to in paragraph 1 shall be accompanied by:
(a) the depositary's contract or, where applicable, its proposal, together with the depositary's written promise to conclude the contract or future contract concluded with the bank or branch of a foreign bank, which will carry out the activities of the depositary for pension funds or participating funds;
(b) information on education [§ 2 (i)] and data on professional practice [§ 2 (h)] by the head of the organisation body of the depositary or, where appropriate, other persons who will provide the activity of the depositary for participating funds or pension funds; and
(c) proof of termination of the existing depositary contract.
WITHDRAWAL OF AUTHORISATION
Withdrawal of authorisation to operate a pension company
(For Paragraph 69 (4) of the supplementary pension savings law)
(1) An application for withdrawal of an authorisation for the activity of a pension company shall be made on a form, a model of which is given in Annex 18 to this Order.
(2) The application referred to in paragraph 1 shall be accompanied by a record of the decision of the general meeting on the cancellation of a pension company with liquidation, including a decision on the application for the appointment of a liquidator of a pension company, or by a court decision on the cancellation of a pension company with liquidation, as well as documents proving the settlement of the obligations against participants.
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Regulation Information
| Citation | Decree No. 248 / 2013 Coll., amending Decree No. 233 / 2009 Coll., on applications, approval of persons and method of demonstrating professional competence, credibility and experience of persons, as amended |
|---|---|
| Regulation Type | Order |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 19.08.2013 |
|---|---|
| Effective from | 19.08.2013 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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