Act No. 287 / 2009 Coll.
Act amending Act No. 21 / 1992 Coll., on Banks, as amended
Valid
Law
Effective from 04.09.2009
Text versions:
04.09.2009
287
THE LAW
of 22 July 2009
amending Act No. 21 / 1992 Coll., on Banks, as amended
Parliament has decided on this law of the Czech Republic:
Act No. 21 / 1992 Coll., on Banks, as amended by Act No. 264 / 1992 Coll., Act No. 230 / 1993 Coll., Act No. 156 / 1994 Coll., Act No. 83 / 1995 Coll., Act No. 84 / 1995 Coll., Act No. 70 / 1996 Coll., Act No. 159 / 1997 Coll., Act No. 16 / 1998 Coll., Act No. 126 / 2002 Coll., Act No. 57 / 2006 Coll., Act No. 62 / 2006 Coll., Act No. 70 / 1996 Coll., Act No. 159 / 2004 Coll., Act No. 239 / 2001 Coll., Act No. 377 / 2005 Coll., Act No. 126 / 2002 Coll., Act No. 453 / 2003 Coll.
1. In § 5a, the words "; mutatis mutandis, the Czech National Bank shall proceed if the Commission of the European Communities so decides in the case of application of the procedure under § 26bb 'shall be added at the end of the text of paragraph 6.
2. In Section 16 (1) of the introductory part of the provision, the words "is required to request 'are replaced by the words" must have'.
3. In Paragraph 16, the sentence "Only the requesting bank is a party to the procedure for the granting of the prior consent is added at the end of paragraph 1; the parties to the proceedings are also the other Contracting Party when made available with the undertaking or part thereof referred to in point (a), other participating public limited-liability companies in the merger or division, or the acquiring partner in the transfer of the assets referred to in point (b). ';
4. In Article 16, paragraphs 4 to 6 are added:
"(4) The Bank may only transfer its business to another bank or branch of a foreign bank; This also applies to the bank's rent.
(5) The Bank may also transfer its company to a public limited company whose sole shareholder is the Czech Republic, provided that the public limited liability company fulfils the minimum capital requirement laid down in Article 4 (1) (hereinafter referred to as the "special purpose bank"). The special purpose bank complies with the conditions for granting the licence provided for in Paragraph 4 (5) if the Czech National Bank gives its prior consent to conclude a contract to transfer the undertaking to the special purpose bank; in this case, the Czech National Bank shall grant it a licence within the scope of the activities authorised by the Bank which transfers its business to it. The special purpose bank may not carry out the activities specified in the licence before the date of entry into force of the contract for the transfer of an undertaking, the contract for the transfer of an undertaking may take effect at the earliest on the date of the grant of the licence to the special purpose bank.
(6) On the date of entry into force of the transfer contract, the bank which transferred the company shall be wound up and put into liquidation. ';
5. in Article 26 (1) (a), the words "and this" shall be replaced by the words "in order, where appropriate, to eliminate a deficiency in activity."
6. in Article 26 (1) (a) (1), "and operations" shall be replaced by "transfers of funds or other transactions."
7. in Article 26 (1) (a) (6), the words "stricter liquidity rules" shall be inserted after the words "adopt."
8. In Paragraph 26, the dot is replaced by a comma at the end of paragraph 1 and the following point (i) is added:
"(i) require an increase in the liquidity of a bank or branch of a foreign bank to at least the amount fixed by the Czech National Bank."
9. In Article 26 (3), at the end of the text in point (c), the words "or in a measure of a general nature pursuant to Article 26bb 'shall be added.
10. in Article 26 (3) (d), the words "the conduct of transactions by a bank or a branch of a foreign bank in a manner which" shall be replaced by the words "the execution or decision to conduct a transaction or transaction, transfer or transfer of funds or other transaction or transaction by a bank or branch of a foreign bank in a manner that threatens or";
11. The following Sections 26ba and 26bb are inserted after Section 26b:
(1) If the amount of the bank's capital falls below the threshold laid down in § 12a and the bank, in order to meet the capital requirements laid down by this law and the law issued on the basis thereof, it increases its capital,
(a) an important interest of the company is given in limiting or excluding the preference right of shareholders to subscribe to new shares; The second sentence of Article 29 (2) is not affected,
(b) the emission rate shall be the same for all subscribers;
(c) new shares may be subscribed even if the shareholders have not yet paid the emission rate of the previously subscribed shares; However, the new shares cannot be subscribed by a shareholder who did not pay the emission rate of the previously subscribed shares,
(d) the right to subscribe to new shares is not separately transferable;
(e) the bank shall publish an invitation to the general meeting at least 7 days before the date of the general meeting;
(f) the Board of Directors shall submit an application for registration of the resolution of the General Assembly on the increase of capital in the Commercial Register within 7 days of the date of adoption of the resolution;
(g) the time limit for subscription of new shares, using the preferential right, shall be no more than 14 days from the date of entry of the order of the General Assembly to raise capital in the Commercial Register;
(h) the time limit for subscription of new shares without the use of a preferential right shall be not more than 14 days from the date of expiry of the period referred to in (g) or from the date of entry of the resolution of the General Assembly on the increase of capital in the commercial register, provided that the preference right of shareholders to subscribe to new shares has been excluded;
(i) the subscriber must repay their emission rate within the deadline for subscription of the new shares, otherwise the subscription is ineffective;
(j) the issue rate of the new shares must be paid in cash or by a non-cash deposit in the form of a cash claim against the bank.
(2) The invitation to the general meeting convened for the purpose of deciding on an increase in the capital of the Bank in the case referred to in paragraph 1 shall state the reasons for the choice of the procedure and its deviation from the capital increase procedure under the Commercial Code; However, failure to comply with this obligation does not invalidate the subsequent decision of the General Assembly.
(1) If the stability of the banking or financial system is compromised, the Czech National Bank will issue general measures if it is useful to eliminate this threat. The Czech National Bank shall issue general measures even if the stability of the banking or financial system has already been compromised, if this is useful to mitigate the consequences of such distortions.
(2) Czech National Bank measures of a general nature to banks, branches of foreign banks, group of pedigree banks or group of pedigree branches of foreign banks
(a) provide for a temporary derogation from compliance with the obligations laid down in Sections 4, 5, 11 to 24 or in Section 26f or the rules laid down under this Act;
(b) temporarily prohibit or restrict certain authorised activities or the execution of certain transactions, transfers of funds or other transactions; or
(c) by way of derogation from this law or legislation issued pursuant to it, it shall specify the time limits and periodicity for the performance of the information obligations of the bank or branch of a foreign bank.
(3) A measure of a general nature may take effect before the procedure for such a measure is carried out under the administrative rules. If a measure of a general nature has not expired earlier, it shall cease to have effect six months after the date on which it takes effect.
(4) Only banks and branches of foreign banks are persons whose rights, obligations or legitimate interests may be affected by a measure of a general nature issued by the Czech National Bank. If there is a risk of delay, the Czech National Bank may shorten the time limits laid down by the Administrative Rules for the publication of a draft measure of a general nature, for the notification of its public consultation and for comments or objections to the draft measure of a general nature up to 3 days. '
12. in Paragraph 28 (1), the first sentence is deleted;
13. In Paragraph 28, the sentence "The Czech National Bank may withdraw the trustee or the trustee's representative and appoint a new trustee shall be added at the end of paragraph 1."
14. In Article 28, the following paragraph 3 is added:
"(3) The person who was the manager of the bank on the date of the introduction of the forced administration or at any time during the period 2 years preceding that date shall, upon request, provide the administrator with synergies. For the breach of this obligation, the Czech National Bank may impose a fine of up to CZK 1 000 000, even repeatedly."
15. In Article 29 (1), the words "which shall convene and have the right to participate in the General Meeting" shall be deleted.
16. in Paragraph 29 (2):
"(2) The General Meeting of the Bank shall not take place and matters within the competence of the General Meeting shall be decided by the administrator. If the trustee decides to increase the capital of the bank, the shareholder's preference right to subscribe to the new shares may be excluded only if the bank has not complied with the corrective measures required to increase the bank's capital within the prescribed time limit. '
17. In the first sentence of Paragraph 29 (3), the word "administrator 'is replaced by the words" forced management bank'.
18. In Paragraph 29, the following paragraph 4 is inserted after paragraph 3:
"(4) The Forced Governance Bank may partially or completely suspend, for a maximum period of 6 months, transactions against persons with a special relationship to the Bank from legal titles arising before the establishment of the Forced Governance. This period may be extended by the bank in the forced administration only in the case of transactions from legal titles which have been challenged by the trustee for nullity, ineffectiveness or non-enforceability in a court or other competent authority within that period. In such a case, that period may be extended, including repeatedly, until the date on which the decision of the court or other competent authority in the case becomes final. '
Paragraph 4 shall become paragraph 5.
19. The following Sections 29a to 29c are inserted after Section 29, including footnote 6i:
The conclusion of a contract to take over the debts of (6i) a bank under forced administration by another bank or branch of a foreign bank,
(a) the consent of creditors is not required;
(b) prior approval of the Czech National Bank is required; The Czech National Bank will only give its consent provided that the borrower ensures the proper and smooth continuation of the client relations related to the debts assumed.
(1) If the bank is selling the bank's firm in compulsory management, the purchase price must be determined as a result of the valuation of the firm and of the related rights and obligations, drawn up on the date on which the sale contract becomes effective (hereinafter referred to as the valuation).
(2) The valuation shall be treated impartially, completely, without undue delay from the award of the valuation, with professional care and in accordance with generally accepted methods of valuation of undertakings and other assets.
(3) The valuation shall not take into account State guarantees or other comprehensive guarantees of the compulsory management liabilities of the bank provided by third parties to maintain its security and stability. Similarly, the insurance of deposit claims under this Act and the guarantee scheme applicable to the assets of customers of a securities dealer under the law governing the capital market business shall not be taken into account. Any loans granted by the Czech Republic or the Czech National Bank shall be deemed to be due for valuation purposes.
(4) The purchase price shall be added to the interest normal for the period from the date of entry into force of the sale contract to the date of payment of the purchase price. If the result of the valuation is not positive, the seller will receive a purchase price of CZK 1.
(5) Forced management banks, buyers and other persons carrying items and documentation, or having the information necessary for the proper preparation of the valuation, are obliged to provide them to the person making the valuation of the holding of the bank (hereinafter the "valuer"). For the breach of this obligation, the Czech National Bank may impose a fine of up to CZK 1 000 000, even repeatedly, on a obliged person who is not a bank or branch of a foreign bank.
(1) The valuer is appointed by the Czech National Bank. The parties to the proceedings for the appointment of a valuer shall be the person to be appointed by the valuer, the forced administration bank and the acquirer of the undertaking.
(2) The valuer may be appointed as a person with experience and knowledge in the valuation of financial institutions' holdings, has sufficient conditions to produce a sound and independent valuation of a bank's firm in forced administration and agrees to its appointment.
(3) The valuer shall not be a person who has a special relationship with a bank which is, or has been, an auditor of the bank in the last 5 years or which does not offer guarantees of impartiality of the valuation.
(4) The person to be appointed by the valuer is obliged to draw the Czech National Bank's attention without undue delay to facts which, in its view, might lead to doubts as to its impartiality. This obligation is also for the valuer to ascertain these facts during the performance of his duties.
(5) The Czech National Bank provides for the remuneration of the valuer or the method of determining the valuer and its maturity. The remuneration of the valuer shall be the cost of carrying out the compulsory administration referred to in Article 27 (2) and shall also include the necessary expenditure of the valuer. If the assets of the bank are not sufficient to pay the remuneration or part thereof, the valuer shall receive a remuneration or part thereof from the Czech National Bank, which thereby gives rise to a claim against the bank in the forced administration to pay it.
(6) The Czech National Bank may withdraw the valuer if the valuer seriously infringes the obligations laid down in this Act and appoint a new valuer. For the same reason, the Czech National Bank can reduce the remuneration of the valuer. For serious reasons, the Czech National Bank may also withdraw the valuer at his request. The decomposition does not have suspensory effect.
(7) The appraised valuer is obliged to provide the newly appointed valuer with all synergies to fulfil his task. For the breach of this obligation, the Czech National Bank can impose a fine of up to CZK 1 000 000, even repeatedly.
(8) Paragraphs 29b and 29c apply mutatis mutandis to the sale of a part of an undertaking.
6i) § 531 (1) of the Civil Code. '
20. In Paragraph 30 (1), the words "or financial 'shall be inserted after the words" banking'.
21. In Paragraph 30 (1), the words "and the shareholders have not taken the necessary steps to remedy these deficiencies" are deleted.
22. In the first sentence of Article 30 (2), the words "and, where applicable, the limitation of transactions against persons with a special relationship to a bank pursuant to Article 29 (3) and (4) 'shall be inserted after the word" deposits'.
23. In Paragraph 33 (2), the words "withdrawal of a licence from a bank 'are replaced by the words" withdrawal of a bank licence'.
24. In Paragraph 34, the sentence "The Czech National Bank may not withdraw the licence in this case if it is a forced administration bank or a special purpose bank 'is added at the end of paragraph 3.
25. in Paragraph 38d, the dot is replaced by a comma at the end of paragraph 1 and the following point (i) is added:
"(i) the application of the procedure under § 26bb to the branch referred to in § 5a (1)."
26. in Paragraph 38e, the following point (e) is inserted after point (d):
"(e) the application of the procedure under § 26bb to the branch referred to in § 5a (1),"
Point (e) shall be renumbered as point (f).
Efficacy
This Act shall take effect on the day of its publication.
z.
Klaus v. r.
Fischer v. r.
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Regulation Information
| Citation | Act No. 287 / 2009 Coll., amending Act No. 21 / 1992 Coll., on Banks, as amended |
|---|---|
| Regulation Type | Law |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 04.09.2009 |
|---|---|
| Effective from | 04.09.2009 |
| Effective until | - |
| Status | Valid |
Legal Areas:
Banking, Money
Finance
The regulation text is for informational purposes only.
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