Decree No. 283 / 2008 Coll.
Decree amending Decree No. 347 / 2004 Coll., on how the rules of prudent business and the rules of the organisation of the internal operation of the investment company and the investment fund are complied with
Valid
Order
Effective from 15.08.2008
Text versions:
15.08.2008
283
DECLARATION
of 1 August 2008
amending Decree No 347 / 2004 Coll., on how the rules of prudent business and the rules of the organisation of the internal operation of the investment company and the investment fund are implemented
The Czech National Bank provides pursuant to § 139 (h) of Act No. 189 / 2004 Coll., on Collective Investment, as amended by Act No. 230 / 2008 Coll.:
Decree No 347 / 2004 Coll., on how the rules of prudent business and the rules of the organisation of the internal operation of the investment company and the investment fund are implemented, is amended as follows:
1.
(1) An investment company or an investment fund shall adopt an organisational order in which it shall adjust, mutatis mutandis to the extent of the activity carried out, the organisational arrangements of the company, the authorisation, the obligations and the functional content of the management of the company and of the other employees of the company, which shall ensure:
(a) promotion of company services and products offered;
(b) the issue, registration or deposit, management and redemption of securities of a collective investment fund;
(c) performance of analytical activities;
(d) trading of investment vehicles on the company's own account;
(e) trading in the assets of the collective investment fund, including risk management;
(f) settlement of transactions, valuation of economic assets;
(g) keeping accounts;
(h) legal services;
(i) management of the information system;
(j) internal audit,
(k) communication with persons outside the company to whom an activity has been delegated;
(l) compliance activity.
(2) The Organisational Rules provide that the activities referred to in paragraph 1 (a) to (j) may be delegated, under the conditions laid down by law, to a third party, provided that, in the event of a delegation of all such activities, the performance referred to in paragraph 1 (k) and (l) of the lead investment firm or investment fund is ensured. "
2. In Article 3 (1) (c), the words "or customer's property under Article 15 (3) and (4) of the Act 'are deleted.
3. In Paragraph 3 (3), at the end of point (e), the comma is replaced by "a '; at the end of point (f), the comma is replaced by a dot and points (g) and (h) are deleted.
4. footnote 2 shall read:
"2) Decree No. 115 / 2007 Coll., on the details of the performance of the depositary's obligations as a collective investment fund."
5. Paragraph 4 (2) is deleted and paragraph 1 is deleted.
6. In Article 5 (2) (g), the comma after the words "in mutual funds' is replaced by" a 'and the words "and with the property of the customer in accordance with Article 15 (3) of the Act' are deleted.
7. in Article 5 (2) (h), the words "or the property of the customer under Article 15 (3) of the Act" shall be deleted and the words "under Article 2 (1) (a) to (m)" shall be replaced by "under Article 2 (1) (a) to (j)."
8. in Article 7 (2) (e), the word "Commission" is replaced by the words "Czech National Bank."
9. in Article 7 (2) (i), the words "or the provision of services under Article 15 (3) and (4) of the Act" shall be deleted;
10. in § 7 (6) (c), the words "under § 2 (1) (a) to (m)" shall be replaced by "under § 2 (1) (a) to (j)";
11. in Article 8 (3), the words "or other customers" shall be deleted;
12. in Paragraph 8 (6) (b), the words "under § 2 (1) (a) to (m)" shall be replaced by the words "under § 2 (1) (a) to (j)";
13. in Paragraph 8 (7) (c), the words "under § 2 (1) (a) to (m)" shall be replaced by "under § 2 (1) (a) to (j)";
14. in Article 9 (2), the third sentence is deleted;
15. in Article 9 (6), at the end of point (d), comma is replaced by "a," at the end of point (e), comma is replaced by "a" and point (f) is deleted;
16. in Article 9 (8) (c), the words "or the property of the customer" and "or for the customer" shall be deleted;
17. in Article 9 (9) (a), the words "or customer's property" shall be deleted;
18. in Article 9 (9) (d), the words "or by the management of the assets of the customer" and "or the customer" shall be deleted;
19. in Paragraph 9 (9) (e), the words "or the management of customer assets" shall be deleted;
20. in Article 9 (9) (f), the words "or the management of customer's assets" shall be deleted;
21. in Article 9 (9) (g), the words "or the customer" shall be deleted and at the end of point (g) the comma shall be replaced by the words "and."
22. in Paragraph 9 (9), point (h), including footnote 6, shall be deleted;
Point (i) shall be renumbered as point (h).
23. in Article 9 (9) (h), the words "or by the management of individual client portfolios" shall be deleted.
24. in Article 9 (10) (c), the words "or customers" shall be deleted;
25. In Paragraph 9 (11) (a), the words "or the provision of services under Article 15 (3) and (4) of the Act" shall be deleted.
26. in Article 9 (11), point (c) is deleted;
Points (d) to (f) shall be renumbered (c) to (e).
27. in Article 9 (11) (c), the words "or the provision of services under Article 15 (3) and (4) of the Act" shall be deleted and at the end of (c) the comma shall be replaced by "a."
28. In Paragraph 9 (11), the comma at the end of point (d) is replaced by a dot and point (f) is deleted.
29. in Article 9, paragraphs 12 and 13 are deleted;
Paragraph 14 shall become paragraph 12.
30. in Article 9 (12), "paragraphs 4 to 6 and 8 to 13" are replaced by "paragraphs 4 to 6 and 8 to 11."
Article 31 (11), including the title, shall be deleted.
Efficacy
This decree shall take effect on the day of its publication.
Governor:
Doc. Ing. Tůma, CSc.
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Regulation Information
| Citation | Decree No. 283 / 2008 Coll., amending Decree No. 347 / 2004 Coll., on how the rules of prudent business and the rules of the organisation of the internal operation of the investment company and the investment fund are implemented |
|---|---|
| Regulation Type | Order |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 15.08.2008 |
|---|---|
| Effective from | 15.08.2008 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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