Decree No. 260 / 2004 Coll.
Ordinance on the formalities for the technical execution of quoted paper securities
Valid
Order
Effective from 01.05.2004
Text versions:
01.05.2004
30.04.2004
260
DECLARATION
of 12 March 2004
on the formalities for the technical execution of quoted paper securities
According to Section 199 (2) (k) in conjunction with Section 45 (2) of Act No. 256 / 2004 Coll., on Capital Market Business, the Securities Commission provides:
Basic provisions
This Decree provides for the technical execution of listed paper securities printed in a printing works authorised by the Securities Commission (hereinafter referred to as "the Commission ') for printing listed securities (hereinafter referred to as" the printing works').
Location of mandatory data on the shell, coupon and talon of the security
(1) The following information is printed on the cover of the security in addition to the particulars laid down by the special legislation1):
(a) identification markings under the international numbering system for the identification of securities (hereinafter referred to as ISIN);
(b) the total value of the issue and the number of securities of that issue by nominal value or type; and
(c) when printing other emissions of the same issuer, the serial number of the relevant issue, the total value of all emissions and the total number of pieces by nominal value or type.
(2) The nominal value is printed on the cover of the security with numbers and words of a significantly large font type.
(3) The security shell shall bear the signature of the persons authorised to act on behalf of the issuer at the date of issue. Signatures need not be printed if, according to the first sentence, persons sign securities manually.
(4) All mandatory information shall be printed on the front of the security shell. Only pre-prints for rubopisy2) and the conditions under which the security is issued may be printed on the back of the mantle.
(5) If the security is provided with a foreign language text, it must also be printed in the Czech language.
(6) Part of the shell, coupon and talon is an optical identification line, which must be printed by a numbering machine in black colour with the OCR@-@ B font. This font is composed of the letters 47 OCR@-@ B1, according to the International Organisation for Standardisation (ISO) standard 1073 / II. of 1 December 1976: "Alphanumeric set of characters for optical reading - Part II: Set of characters OCR@-@ B - Shapes and dimensions of printed image '.
(7) Tolerance of printing quality of the optical identification line (quality of the printed image, position of characters, distance between characters and equalisation in the row) must correspond to the ISO 1831 standard of 15 October 1980: "Specification of printing for optical reading of characters."
(8) The optical identification line has 37 characters (digits and letters). The content of the optical identification line is these data divided into fields (character groups) in the following order:
| Pole | údaj | počet míst |
| prázdné místo | 2 | |
| 1. pole: | pořadové číslo kupónu | 2 |
| prázdné místo | 1 | |
| 2. pole: | nominální hodnota | 7 |
| prázdné místo | 1 | |
| 3. pole: | ISIN | 12 |
| prázdné místo | 1 | |
| 4. pole: | označení série (je-li stanovena) | 2 |
| prázdné místo | 1 | |
| 5. pole: | pořadové číslo | 6 |
| prázdné místo | 2 | |
| 37 |
(9) The unused space in the field of the optical identification line shall be marked with zero. There are always two zeros in the "coupon serial number" on the security shell. A series of securities may be expressed by alphabetical or numerical characters.
(10) The optical identification line is printed in a white stripe without printing. The width of the white stripe from its inner side to its opposite inner side is 9 mm.
(11) The white bar and the data in the optical identification line are located as follows:
(a) the lower edge of the white stripe is located at a distance of 39 mm from the upper edge of the security. The ISIN centre is located 34.5 mm from the top of the paper. In the case of a casing with A4 size in height or A5 format (Paragraph 3 (1)), the initial character of the first field shall be placed 85 mm from the left cut of the paper. If the cover of the security in A4 format is printed in width and the coupon sheet is separated from the cover, the initial character of the first field shall be placed 172 mm from the left cut of the paper,
(b) the lower edge of the white stripe is situated at a distance of 5 mm from the lower edge of the coupon or talon. The initial character of the first field is located at a distance of 90 mm from the inner boundary of the right unprinted edge of the coupon or talon (§ 3 (5) and (6)).
(12) At least 1 mm above or below the edge of the white stripe, where the optical identification line is printed, the following marking (or abbreviation) shall appear on each field with a small font type:
| Hodnota | (2. pole) |
| ISIN | (3. pole) |
| série | (4. pole) |
| pořadové číslo | (5. pole). |
(13) The rear side of the optical identification line shall not be printed.
(14) If the security has coupons, the following information is printed on the coupons:
(a) the designation "coupon,"
(b) the name and registered office of the issuer;
(c) a description of the type of security;
(d) coupon serial number (significant digits in the upper right corner),
(e) an optical identification line;
(f) in the case of fixed-interest securities, the amount of the annual interest rate and the maturity date of the interest, indicating the month in verbal terms and, where applicable, its amount;
(g) the amount of the yield or the method of determining it;
(h) the date and place of exercise of the right to yield; and
(i) ISIN; If the coupon is assigned a separate ISIN code, the ISIN coupon shall be indicated if the separate ISIN coupon is not allocated, the ISIN code allocated to the security shall be given.
(15) The coupon numbers usually start in the lower right corner of the coupon sheet and continue according to the maturity date and order numbers so that the last applicable coupon is always placed in the upper left corner of the coupon sheet. If part of the coupon sheet area is not used for coupons or talons, this area shall be removed or degraded by reprinting and placed before the first coupon.
(16) If the security has a talon, the following information is printed on the talon:
(a) the designation "talón,"
(b) the name and registered office of the issuer;
(c) a description of the type of security;
(d) an optical identification line; and
(e) the number of the first coupon payable on the new coupon sheet.
(17) If the back of the shell or coupon sheet is printed, the printing shall be done in a light colour and shall not interfere with the positions where the optical identification line is located on the front.
(18) On the mantle, on each individual coupon and on the talon there is a name or abbreviation of the printer that printed the security in the lower unprinted margin (§ 3 (2), (5) and (6)).
Dimensions of mantle, coupon and talon, connections and separation of mantle and coupon sheet
(1) The cover of the security is 297 x 210 mm (A4 size in height or width) or 148 x 210 mm (A5 format in width).
(2) The cover of the security is lined with an unprinted edge at least 3 mm wide.
(3) Coupons are printed on the coupon sheet in one or more adjacent columns; each such column shall have dimensions 297 x 105 mm (half of the vertical A4 format). The column height need not be observed when the coupon sheet contains a talon or when the shell and coupon sheet are placed on a single sheet of paper (paragraph 7). The size of the coupon sheet depends on the total number of coupons.
(4) Coupons are 105 x 48 mm, 105 x 33 mm or 105 x 26 mm.
(5) Individual coupons are lined with an unprinted border of 3 mm wide to avoid damage to text and numbers when separated. The unprinted edge size shall be included in the coupon size.
(6) The talon has a width of 210 mm and a height of 105 mm and a double coupon height. The provisions of paragraph 5 shall apply to the ends of the talon. The talon is usually located at the top of the coupon sheet.
(7) The mantle and coupon sheets of securities shall be printed in such a way that the mantle and coupon sheet are joined and bent, or the mantle and coupon sheet are placed on one A4 paper sheet if the number of coupons is less than or equal to 10, or the mantle and coupon sheet are separated. If the coupon sheet is freely inserted into the shell which is folded in width, the surface of the shell shall not exceed the dimensions of the double A4 format.
(8) An intermittent line is printed between the shell and the coupon sheet and between the coupons. The cloak must not be translated either when it is sent or when the security is stored.
Paper and ink used in the printing of securities
(1) Only paper free of optical bleach containing at least 50% cotton with a quality continuous or local watermark (negative, positive or, where appropriate, tiered) shall be used for printing securities. The drawing of watermark must be largely visible on each coupon. The paper may be supplemented by additional protective securing and shall have at least the following characteristics:
(a) the length of the market, length 5000 m, cross 2500 m;
(b) the number of double bends on average 150,
(c) weight per 1 m2 100 g with a tolerance of + / - 5 g.
(2) Each printer uses a strictly settlement paper with its own watermark which must not be available on free sale; paper with watermark specific to the issuer may also be used. The watermark image must appear exactly the same, must not show irregularities in shape and tone and must not cause the impression of spots. The watermark may be supplemented by additional protective securing (e.g. fibres). Price paper must not show its own fluorescence.
(3) Atested price colours are used for printing securities.
(4) Production tolerances shall be respected at all stages of the production of securities. The production of the whole load uses the same, precisely marked, ageing-resistant raw materials.
Printing techniques, printing quality
(1) For the printing of securities, a high-quality liner rotogravure shall be used in combination with a surface technique (wet or dry offset) or a book printing technique; a book printing technique may only be used in combination with any of the other mentioned techniques.
(2) The liner rotogravure shall have a technically perfect design (sharpness of lines, grafted colour load, visible and distinct relief). Some parts within the liner rotogravure can be deliberately left without a colour for blindprinting, which must be clearly displayed in shape and size.
(3) The technical and colour printing of securities must be such that it is difficult to separate by photographic colour extract or other reproductive techniques.
(4) When printing securities, at least two guilloche designs and the iris crossing of colours shall be used as protective features. The Irish colour transition does not need to be used if both the frame and the protective underprint are made by line rotogravure and one guilloche pattern is used in frame, the other in protective underprint. An illusion relief may be used instead of a guilloche pattern in protective printing. In the second and third sentences, the underprint shall be printed in two colours visible in daylight. The numbering on the cover of the security and coupon sheets shall be carried out on automatic machines by one printing technique.
(5) Guilloche means protective ornamental designs made of machine-made, consisting of complicated wave lines, many times intersecting fine lines, formed by geometric patterns which may form a frame, fill the surface of the protective underprint or be closed in the form of a set. Positive guilloche is the colour of a printed fine line on an unprinted base. Negative guilloche are fine lines without color on the coloured background.
(6) The fabric of the guilloche must have an exact drawing and a fine structure. The guilloche must be created on a special electronic or mechanical device which is made for the production of printing material (films) or printing forms for the printing of banknotes and securities and is not available on free sale. Models which are drawn by drawing or photographic means or which are made predominantly or only from lines, parallel bent lines or points are not allowed. The printing of guilloche and illusion reliefs shall be carried out without technical defects. The guilloche shall not be allowed to cross lines with a stronger layer in the positive guilloche, nodular layer in the negative guilloche, molten spots in the close lines, spots, blurred spots or intermittent lines, or defects caused by defective printing plates or insufficient printing. In multi-colour guilloche, the unordered overlap of different guilloche is not acceptable. In addition, intermittent guilloche lines and errors arising mainly as a result of damage to printing plates or insufficient adjustment of their printing position are not allowed.
(7) Protective underprint, or guilloche elements, cover the larger part of the area which is intended for printing on the cover of the security.
(8) Protective underprint, at least one of the guilloche elements and text are printed in different colours.
(9) Protective underprint or guilloche element, or some pattern must pass through the iris printing into the colour of another shade.
(10) Multi-colour guilloche is made with at least two processed guilloche in different colours that overlap. The common processing means that the guilloche of individual plates agrees with each other by guiding lines, that they match and complement each other. The line rotogravure is used at least for printing a frame made of guilloche. Drawn motifs or figural images may be used only if they do not interfere with the protective features. The protective underprint shall be printed in a visible colour.
(11) Illusionary reliefs are protective frames consisting of the arrangement of fine lines in the area, the lines of which give the impression of a plastic relief pattern in integrity. They shall be created by an electronic or mechanical device which is manufactured for the production of printing material (films) or printing forms for the printing of banknotes and securities and is not available on free sale. Models which are created by drawing or photography are not allowed.
(12) If a liner rotogravure is not used in the printing of the security, the security shall be protected by other protective features, in particular by stamping of the price holograms, special application of the stamping using foil or display effects ("scrapble"). The price hologram used in the printing of securities shall not be available on free sale and shall not be used for purposes other than the printing of securities. Only the issuer's own price hologram or the printer's own price hologram can be used.
Security of securities printing
(1) Printers may use printing plates (printing forms) made only in their own use.
(2) The printing works for each issuer shall process the original and unique set of security features and the adjustment of the security and shall distinguish the printing of the individual securities by different frameworks, colours, protective printing, font type and other distinguishing features. The same execution of the frame and the protective print can be used no more than eight times, including for different issuers, but only if at least the frame is printed by a line rotogravure (neutral version). The same execution of the frame and the security security imprint intended for one issuer can only be used if at least the frame is printed with a line rotogravure (company execution).
(3) Printers shall keep records of the exact number of uses of the protective elements referred to in paragraph 2.
(4) Printers may, in exceptional cases, cooperate in the printing of securities with the consent of the issuer. The security of the printing works shall be the responsibility of the printing works at which the issuer entered the printing. Printers don't hand over documents for printing securities.
(5) The printing works shall keep records of the pattern, numbering and closing dates of the printing of securities and shall keep them, together with printing documents and three security designs, for at least 10 years after the expiry of the security. The model means a complete copy of the cover of a security and a coupon sheet on the original price paper, including numbering, which cannot be used as a genuine security.
Graphic treatment of paper securities
(1) Securities of different issuers must be significantly differentiated by graphic presentation, such as the choice of different framing, protection printing, guilloche elements or font types.
(2) All issues of one issuer shall be printed in the same graphic format using the same printing documents.
(3) In the event that different issues of one issuer are printed by different printing works, the graphic presentation of the individual issues securities shall be clearly distinguished so that the adjustment cannot be confused or considered as imitation.
(4) When printing securities of the same type and the same nominal value from the subsequent emissions of one issuer, the colour and colour of the securities, the size of the security and its characteristics shall be maintained in accordance with Section 3 (7). Issuance of a security of the same type of one issuer issued in different nominal values shall be clearly distinguished by different colour combinations.
Efficacy
This decree takes effect on the date of the entry into force of Act No. 256 / 2004 Coll., on the Capital Market Business.
Presidium member acting as Chairman:
Ing. Shimáček v. r.
1) For example, Section 6 of Act No. 190 / 2004 Coll., on Bonds, Section 155 of Act No. 513 / 1991 Coll., Commercial Code, as amended by Act No. 600 / 1992 Coll., Act No. 142 / 1996 Coll., Act No. 30 / 2000 Coll., Act No. 376 / 2000 Coll. and Act No. 370 / 2000 Coll., Section 176 of Act No. 513 / 1991 Coll., as amended by Act No. 142 / 1996 Coll., Act No. 30 / 2000 Coll., Act No. 362 / 2000 Coll., and Act No. 370 / 2000 Coll., Section 4 of Act No. 591 / 1992 Coll., as amended by Act No. 61 / 1996 Coll., Act No. 152 / 1996 Coll.
2) Act No. 191 / 1950 Coll., Exchange and Checkbook Act, as amended by Act No. 29 / 2000 Coll.
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Regulation Information
| Citation | Decree No. 260 / 2004 Coll., on the formalities for the technical execution of quoted paper securities |
|---|---|
| Regulation Type | Order |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 30.04.2004 |
|---|---|
| Effective from | 01.05.2004 |
| Effective until | - |
| Status | Valid |
Legal Areas:
Securities
Finance
The regulation text is for informational purposes only.
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