Decree No. 271 / 2004 Coll.
Order on the information obligations of the collective investment fund and the investment company
Valid
Order
Effective from 01.05.2004
Text versions:
01.05.2004
30.04.2004
271
DECLARATION
of 7 April 2004
on the information obligations of the collective investment fund and the investment company
According to Section 139 (f) in conjunction with Section 89 of Act No. 189 / 2004 Coll., on Collective Investment (hereinafter referred to as "the Act"), the Securities Commission provides:
Subject matter
This Decree regulates the minimum range of information that must be included in the annual report of the collective investment fund, in addition to the specific accounting legislation, the outline of the annual report of the investment company and the collective investment fund, the outline of other information obligations of the investment company and the collective investment fund, details of the form of those reports and information, the manner in which they are published and the way in which they are sent to the Securities Commission ("the Commission ').
Definition of certain terms
(1) For the purposes of this decree, the data referred to in Paragraph 2 (1) (j) of the Act are reported as referring to a person.
(2) The information in the annual report is given on the last day of the accounting year for which the annual report is drawn up. The relevant period shall be the financial year for which the annual report is drawn up.
(3) The data in the half-yearly report are shown on the last day of the sixth month of the accounting year for which the half-yearly report is drawn up. The period shall be the first six months of the accounting year for which the half-yearly report is drawn up.
Annual report of the investment company
The schedule of the annual report of the investment company is set out in Annexes 1 and 7 to this decree.
Annual report of the IF
(1) The annual report of the IF must contain at least information in addition to the specific accounting legislation on:
(a) changes to the facts recorded in the Commercial Register during the relevant period and to the proposals for registration of changes in the Commercial Register submitted to the Court in the relevant period;
(b) any investment company which has managed the assets of the investment fund for even part of the relevant period and the date of conclusion of the management contract and the date of termination of the management of the investment companies;
(c) the facts which have a significant impact on the performance of the investment fund's activities (such as the submission of a proposal or the opening of insolvency or settlement proceedings), together with an indication of the main factors affecting the economic outcome;
(d) members of the board of directors and supervisory board, managers and employees responsible for managing the assets of the investment fund (portfolio of managers) on the last day of the relevant period, their experience, qualifications and the date on which the appointment of such persons took effect;
(e) persons who have had a qualifying holding in the IF, even for part of the period concerned, with an indication of the amount of the holding in the IF, together with an indication of the period during which they had a qualifying holding in the IF;
(f) persons in whom the IF has a qualifying holding, even for part of the relevant period, with an indication of the amount of the share of the capital and the economic result of those persons, together with an indication of the period during which the IF has had a qualifying holding in those persons. Where the audited economic results of those persons are not available, the IF shall indicate the unaudited economic results,
(g) persons who have been personally linked to the IF, even for part of the relevant period, with an indication of the means of interconnection, together with an indication of the period during which they have been linked to the IF;
(h) persons who have acted in agreement with the investment fund during the relevant period and who have not been connected to the investment fund by property or personnel;
(i) all depositories of the IF during the relevant period;
(j) a person who provides for the safekeeping or other custody of the asset values of the IF, provided that more than 1% of the asset values of the IF are otherwise held by that person or otherwise by that person;
(k) all securities dealers who have engaged in the activities of a securities dealer for an investment fund, even for part of the relevant period, together with an indication of the period during which they were engaged in the activities of a securities dealer for an investment fund;
(l) for a fixed-term investment fund, the date on which that period ends;
(m) all cash and income or other benefits received by members of the Board of Directors, the Supervisory Board, the management and staff responsible for managing the assets of the Investment Fund (portfolio managers) from the Investment Fund or from persons controlled by the Investment Fund, for each individual separately, for the legal reason for such transactions and for the financial relations between the Investment Fund or persons controlled by the Investment Fund and those persons, together for each institution and for each person separately;
(n) the number of shares of the investment fund held by the members of the board, the supervisory board, the managers and the staff responsible for managing the assets of the holding fund (portfolio of managers) and the number of shares of the investment fund which are subject to options or other rights of such persons, together for each institution and manager and separately for each person;
(o) legal disputes involving the IF, if the value of the object of the dispute exceeds 5% of the value of the IF's assets on the last day of the relevant period; and
(p) the assets of the IF burdened with third party rights.
(2) The annual report of the IF must also include:
(a) the particulars referred to in Annexes 2, 3, 4 and 7 thereto;
(b) the evolution of the value of the share in the relevant period in graphic form; where the investment strategy of the IF is linked to a fixed index (benchmark), the development of that fixed index in the relevant period shall be reported in graphical form;
(c) the composition of investment vehicles by type and issuer, where the sum of the values of each of those instruments exceeds 1% of the value of the assets in the IF on the date on which the valuation was made for the purposes of this report, as set out in Annex 5 to this Decree;
(d) the identification of other assets where their value exceeds 1% of the value of the assets in the IF on the date on which the valuation was made for the purposes of this report, indicating the total cost at the beginning of the period, the increments, losses, the total cost at the end of the financial year and the rights and adjustments (creation and use); and
(e) an indication of the dividend received by the shareholders of the IF during the relevant period per share.
Annual report of the mutual fund
(1) The annual report of the holding fund must include at least, in addition to the specific accounting legislation, the following:
(a) the name of the holding fund and the ISIN or the SIN, if assigned;
(b) the information on the investment company managing the holding fund and the information on all the investment companies managing the holding fund during the relevant period, together with an indication of the period during which each investment company has managed the holding fund;
(c) details of the staff responsible for managing the assets of the mutual fund (portfolio manager) and details of its experience and qualifications;
(d) all depositories of the mutual fund during the relevant period;
(e) details of the person who provides for the safekeeping or other custody of the property values of the holding fund, provided that more than 1% of the equity values of the holding fund are otherwise held by that person or that person;
(f) the number of units issued at the final date of the relevant period;
(g) details of all securities dealers who have engaged in the business of a securities dealer for the investment company and for the funds managed, even for part of the period in question, together with an indication of the period during which they were engaged in the business of the securities dealer for the mutual fund;
(h) the particulars referred to in Annexes 2, 3 and 4 to this Decree;
(i) the information referred to in Annex 7 to this Order relating to liabilities where the value of the mutual fund's liabilities at the last day of the relevant period exceeds 2% of the total assets of the fund;
(j) the composition of investment vehicles by type and issuer, where the sum of the values of each of those instruments exceeds 1% of the value of the assets in the holding fund on the date on which the valuation was carried out for the purposes of this report, as set out in Annex 5 to this Decree;
(k) identification of other assets where their value exceeds 1% of the value of the mutual fund's assets on the date on which the valuation was carried out for the purposes of this report, indicating the total cost at the beginning of the period, the increments, losses, the total cost at the end of the financial year and the rights and adjustments (production and use);
(l) the development of the value of the unit sheet in the relevant period in graphic form; where the investment strategy of the mutual fund is linked to a fixed index (benchmark), the development of that fixed index in the relevant period shall also be reported in graphical form;
(m) an indication of the yield received by the unit-holders of the holding fund for one share sheet during the relevant period; and
(n) an indication of the legal disputes involving the investment company on behalf of the mutual fund where the value of the object of the dispute exceeds 5% of the value of the mutual fund's assets on the last day of the relevant period.
(2) The annual report of the open holding fund must also include:
(a) the total number of units issued in the relevant period and the total amount for which the units were issued, without any increases; the data for units issued in the Czech Republic shall be reported separately; and
(b) the total number of units purchased during the relevant period and the total amount for which the units were purchased without any deduction; data for units purchased in the Czech Republic shall be provided separately.
(3) For a closed fixed-term holding fund, the date on which that period ends shall be indicated.
Annual report of the standard open holding fund
In addition to the information provided for in Article 5, the annual report of the standard open holding fund shall contain the composition of the assets in cash terms and in percentage of the total assets of the standard holding fund according to the structure set out in Annex 6.
Annual report of the Special Securities Fund
In addition to the information provided for in Section 4 or Section 5, the Special Securities Fund shall indicate the composition of the assets in cash terms and in percentage of the total assets of the Special Investment Fund according to the following structure:
(a) investment securities and money market instruments under Section 51 (1) (a) of the Act;
(b) government bonds and bonds for which the State has taken over the guarantee;
(c) mortgage bonds;
(d) bonds issued by a central bank or a bank;
(e) securities issued by a collective investment fund under Paragraph 51 (1) (e) of the Act; and
(f) other assets, such as deposits with banks.
Annual report of the Special Property Fund
In addition to the information provided for in Section 4 or Section 5, the special property fund shall indicate the composition of the assets in cash terms and in percentage of the total assets of the special property fund according to the following structure:
(a) buildings or land for the purpose of their administration; indicate the buildings and land encumbered by the lien of third parties; and
(b) participation in a legal person whose business is the management of its own property.
Annual report of the special fund of derivatives
In addition to the data referred to in Section 4 or Section 5, the special derivative fund shall indicate the composition of the assets in cash terms and in percentage of the total assets of the special derivative fund according to the following structure:
(a) a more detailed composition of the fund's assets with at least the allocation of assets to:
1. derivatives admitted to trading on a regulated market; and
2. derivatives not admitted to trading on a regulated market pursuant to § 54 (2) (b) of the Act;
(b) a more detailed breakdown of derivatives at least to:
1. options for investment vehicles;
2. financial futures contracts for investment vehicles, in particular futures;
3. forward,
4. swaps,
5. Differential agreements and similar instruments for the transfer of interest rate or exchange rate risk,
6. instruments enabling the transfer of credit risk,
7. other instruments which give rise to a right to cash settlement and the value of which is derived in particular from the investment security, index, interest rate, currency or commodity price;
(c) the breakdown of derivatives by underlying asset according to Annex 8 to this Decree.
Further details on the annual report
The annual report of the investment firm, the investment fund and the annual report of the mutual fund shall also include data on the person of the auditor or audit firm and the audit report and its reservations or comments in full.
Half-yearly report of the investment company and collective investment fund
(1) The half-yearly report of the investment company and the collective investment fund shall contain:
(a) for an investment company, the information referred to in Annexes 1 and 7 to this Order;
(b) in the case of a collective investment fund, the information referred to in Annexes 2, 3 and 7 thereto. Where the value of the liabilities for the mutual fund at the last day of the relevant period is less than 2% of the total assets, the half-yearly report for the mutual fund need not include Annex 7,
(c) in the case of a collective investment fund, the composition of investment instruments by type and issuer, where the sum of the values of each of those instruments exceeds 1% of the value of the assets in the fund on the date on which the valuation for the purposes of this report was carried out in accordance with Annex 4 to this Decree;
(d) in the case of a collective investment fund, the identification of additional assets where their value exceeds 1% of the value of the fund's assets on the date on which the valuation was made for the purposes of this report, indicating the total cost at the beginning of the period, the increments, losses, the total price at the end of the half-year valuation and the rights and adjustments (production and use); and
(e) the descriptive part.
(2) The description of the half-yearly report of the collective investment fund referred to in paragraph 1 (f) shall include, to the extent necessary for an accurate and correct assessment of the development of the collective investment fund's activities, at least:
(a) a description of the state and past trends of the activities of the collective investment fund over the half-yearly period covered by the half-yearly report;
(b) a description of the relevant factors that have affected the economic results of the collective investment fund in the half-year covered by the half-yearly report; and
(c) a corresponding comparison with the first half of the previous year.
(3) The half-yearly report of the open holding fund must also include:
(a) the total number of units issued in the relevant period and the total amount for which the units were issued, without any increases; the data for units issued in the Czech Republic shall be reported separately; and
(b) the total number of units purchased during the relevant period and the total amount for which the units were purchased without any deduction; data for units purchased in the Czech Republic shall be provided separately.
Foreign Standard Fund
The information published by the foreign standard fund within 1 month of the end of each calendar quarter in a way that allows remote access under Section 45 (3) of the Act shall contain at least the information set out in Annex 9 to this Decree.
Monthly information obligation of the collective investment fund
Information published by the collective investment fund at least once a month shall contain at least the information set out in Annex 9 to this Regulation.
Information published by the collective investment fund at least once every two weeks shall contain at least the information set out in Annex 10 to this decree.
Message form and way of sending information
The information to be published under the law shall be sent to the Commission in electronic form in the form of a data report1) according to the standardised data form. The model of the standardised data form for the electronic form of such reports shall be published by the Commission at the latest by the date of application of the decree in a manner enabling remote access. The electronic form of the report shall be provided with a guaranteed electronic signature of the m2) based on a qualified certificate issued by an accredited certification service provider .3)
Disclosure procedure
The information and documentation that an investment company and an investment fund must publish under the law in a way that allows remote access shall be published by the investment company or investment fund at its website (URL address) in the manner in which capital market entrepreneurs normally publish information on their services or products. In so doing, the investment company or investment fund shall ensure in particular that:
(a) the internet address has been made available to the public free of charge and without restriction via the internet data network and can be easily searched by the investment company's or the investment fund's trading company;
(b) the information published takes the form of a data file suitable for download, in a commonly used format;
(c) the information published has been made available continuously and unchanged in this manner for a period of time
1. at least two years after their publication in the case of the annual report,
2. at least one year after their publication in the case of a half-yearly report,
3. at least six months from the first day following their publication in the case of monthly and two-week reports.
The provisions of this Order shall apply mutatis mutandis to the special foreign collective investment fund.
Transitional provision
(1) Annual reports for 2004 and 2005 need not include data for 2003 and 2002 in Annex 2.
(2) In the half-yearly reports for the first half of 2004 and the first half of 2005, Annex 2 does not need to contain data for the first half of 2003 and for the first half of 2002.
Efficacy
This decree takes effect on the date of the entry into force of Act No. 189 / 2004 Coll., on Collective Investment.
Presidium member acting as Chairman:
Ing. Shimáček v. r.
Příloha č. 1
Annex No. 1 to Decree No. 271 / 2004 Coll.
Příloha č. 2
Annex No 2 to Decree No. 271 / 2004 Coll.
Příloha č. 3
Annex 3 to Decree No. 271 / 2004 Coll.
Příloha č. 4
Annex No. 4 to Decree No. 271 / 2004 Coll.
Příloha č. 5
Annex No 5 to Decree No. 271 / 2004 Coll.
Příloha č. 6
Annex No 6 to Decree No. 271 / 2004 Coll.
Příloha č. 7
Annex No 7 to Decree No. 271 / 2004 Coll.
Příloha č. 8
Annex No 8 to Decree No. 271 / 2004 Coll.
Příloha č. 9
Annex No 9 to Decree No. 271 / 2004 Coll.
Příloha č. 10
Annex No. 10 to Decree No. 271 / 2004 Coll.
1) § 2 (c) of Act No. 227 / 2000 Coll., on Electronic Signature and on the Amendment of Certain Other Laws.
2) § 2 (b) of Act No. 227 / 2000 Coll.
3) § 11 of Act No. 227 / 2000 Coll.
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Regulation Information
| Citation | Decree No. 271 / 2004 Coll., on the information obligations of the collective investment fund and the investment company |
|---|---|
| Regulation Type | Order |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 30.04.2004 |
|---|---|
| Effective from | 01.05.2004 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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