Measure Česká národní banka No 312 / 1996 Coll.
Measures of the Czech National Bank laying down the procedure of banks and branches of foreign banks in making payments to and from abroad and against foreigners and marking their purpose with payment titles
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Measures
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31.12.1996
312
MEASURES
Czech National Banks
of 17 December 1996
laying down the procedure for banks and branches of foreign banks in making payments to and from abroad and towards foreigners and marking their purpose with payment titles
The Czech National Bank provides for the Act No. 219 / 1995 Coll., the Foreign Exchange Act, and pursuant to § 36 (b) of the Czech National Council Act No. 6 / 1993 Coll., on the Czech National Bank:
Subject matter
The procedures laid down in this measure apply to the cash payments defined by the special regulation, (1) carried out by the bank and the branch of a foreign bank (hereinafter referred to as "the bank ') directly or through another bank.
Reimbursements sent
(1) The bank shall make a payment on the basis of a payment order submitted by the authorising officer or on the basis of the receipt of another order by the bank under the agreed payment terms of the authorising officer (e.g. the order to open the letter of credit, the order to obtain the document collection).
(2) The payment order or other order (hereinafter referred to as the "order") must contain a payment title to indicate the purpose of the payment, i.e. the verbal description of the purpose of the payment made and the corresponding numerical indication of the payment title in accordance with a specific regulation. 1)
(3) Before making the remuneration, the bank shall compare the numerical indication of the purpose of the payment with the payment title with the verbal indication of the purpose of the payment indicated by the authorising officer. If the order does not contain the data required under paragraph 2 or the data do not comply with one another, the bank shall not execute the order and return it to the authorising officer for completion or repair.
(4) The Bank is entitled to require from the originator, before making the payment, the documents necessary to assess the accuracy of the information given concerning the designated purpose of the payment. The authorising officer shall, at the request of the bank, submit these documents to the bank.
(5) For documents where the acquisition of a copy would entail disproportionate costs for the authorising officer, the bank shall record the inspection of the documents. The record shall state the date, the facts of the evidence, the name and signature of the person who examined the documents.
(6) If the authorising officer is unable to submit the required documents, the bank may require the authorising officer to provide a written statement explaining the purpose of the payment and the reason for not submitting the documentary documents. The authorising officer's written statement may be given directly on the order.
(7) In the case where a foreign exchange permit is required under the Foreign Exchange Act, (2) the bank is required to require the foreign exchange permit to be presented to the bank before making the payment and the originator is obliged to submit the foreign exchange permit to the bank, otherwise the bank will not make the payment. If the authorising officer declares that under the Foreign Exchange Act the required remuneration is subject to an exception where the foreign exchange permit is not required, he must prove this fact to the bank, otherwise the bank will not make the payment.
(8) The bank shall keep a copy of the documents or a record of the inspection of the documents or a written declaration and a copy of the foreign exchange permit, together with the order, for a period of five years from the end of the year in which the payment took place, unless otherwise provided by the special law.
Reimbursements received
(1) The payment shall be credited by the Bank to the beneficiary's account and shall be attributed to it a numerical indication of the payment title corresponding to the purpose of the payment by that authorising officer.
(2) If the purpose of the payment is not indicated by the authorising officer, the bank shall credit the payment in favour of the payee's account and assign to it the most appropriate numerical description of the payment title according to:
(a) the disposition of the beneficiary;
(b) agreements concluded between the client and the bank;
(c) the nature of the recurring remuneration for the beneficiary or the focus of his activity.
If the bank subsequently finds from the payee that the purpose of the remuneration should have been indicated by another payment title, the bank shall correct it in accordance with the procedure laid down in Section 6.
(3) If the remuneration referred to in paragraph 2 cannot be indicated, the bank shall assign a replacement payment title No 199 to the remuneration. In an appropriate form, the Bank shall inform the payee that a remuneration has been credited to the payee, the purpose of which the bank has not been able to designate with the corresponding payment title, and at the same time shall ask the payee to notify the corresponding purpose of the remuneration. The beneficiary of the remuneration shall immediately inform the bank of the appropriate purpose of the remuneration following this call. If the bank subsequently discovers the purpose of the remuneration from the payee, it shall correct the replacement payment title in accordance with the procedure laid down in Section 6.
(4) If the bank fails to determine the appropriate purpose of the payment within 20 calendar days of the payment being credited to the account, the bank shall invite the payee to notify the purpose of the payment. The invitation shall be sent by the Bank to the beneficiary of the payment in his own hands and the proof of delivery shall be kept together with a copy of the call for five years after the end of the year in which the payment took place. The costs of the call shall be borne by the beneficiary of the remuneration.
(5) The beneficiary shall inform the Bank of the corresponding purpose of the remuneration no later than 20 calendar days from the date of receipt of the call referred to in paragraph 4. In the event that the beneficiary fails to comply with this obligation, the Bank shall proceed in accordance with Section 5.
(1) Unless otherwise provided for by an agreement between the banks, a bank which receives a remuneration for the client of another bank in the country (correspondent bank) shall credit the remuneration to the account of the recipient's domestic bank held in the currency of the payment to be credited to its client's account.
(2) Correspondent bank receiving a remuneration in foreign currency for a customer of another bank in the country shall indicate a remuneration by payment title 999 according to the special regulation1) and credit the remuneration to the bank of the payee to be credited to its client's account. In addition, the beneficiary's bank shall proceed in accordance with Section 3, i.e. credit the payment to the beneficiary's account and mark it with the corresponding payment title according to the Special Regulation (1) in groups 1 to 8.
(3) Correspondent bank receiving a payment from abroad in the Czech currency for the client of another bank in the country shall credit the payment directly to the account of the beneficiary or to the account of the bank of the beneficiary with a credit in favour of the account of its client and shall assign to it a serial number of the payment title according to the special regulation1) in Groups 1 to 8 corresponding to the purpose of the payment by the authorising officer.
(4) If the purpose of the remuneration is not stated, the correspondent bank shall assign a replacement payment title No 195. The Correspondent Bank shall, at the same time as the notice of crediting the remuneration, the purpose of which could not be indicated by the corresponding payment title, call for the correct numerical indication of the payment title or the purpose of the payment
(a) directly to the beneficiary of the remuneration and proceed in accordance with § 3 (3) to (5); or
(b) a bank of the beneficiary which ascertains the purpose of the payment from the beneficiary in accordance with the procedure laid down in Article 3 (2) to (5) and shall immediately communicate it to the correspondent bank.
If the correspondent bank subsequently ascertains the purpose of the remuneration, it shall correct the replacement payment title in accordance with the procedure laid down in Section 6.
(5) The Bank of Correspondent shall also proceed in accordance with paragraphs 3 and 4 where it receives a remuneration for a customer of another bank in a foreign currency in another country which, according to an agreement between the banks, is credited directly to the account of the beneficiary or to the account of the bank of the beneficiary, with a credit in favour of its client.
Infringement of foreign exchange regulations
(1) The bank shall notify the competent foreign exchange authority without undue delay of any breach or suspicion of breach of this measure or other foreign exchange regulations by the bank client, 3) which shall comply with the special legislation.4)
(2) In the notification referred to in paragraph 1, the Bank shall give a description of the situation established and shall indicate:
(a) the name and surname of the natural person, his / her birth number and residence;
(b) the name, surname and business name of the natural person of the entrepreneur, his place of business or residence and the identification number. If the identification number has not been assigned, the bank shall indicate its birth number,
(c) the trade name or name of the legal person, its registered office and identification number.
Correction of reports
The bank, which subsequently finds out from the beneficiary the appropriate purpose of the remuneration, shall correct the numerical indication of the payment title by reducing the amount of the corrected payment title by 12-12 "for the next reporting period in the statement" Monthly statement of foreign exchange and crown debits and payments of the DEV (ČNB- Ds) "by the amount in question, while increasing the amount of the corresponding payment title by that amount. This correction will be reflected by the bank in all material follow-up statistical reports of the series of DEV provided for by the Czech National Bank. 5)
Repeal
Action of the Czech National Bank No 234 / 1995 Coll., laying down the procedure for foreign exchange points when making payments to and from abroad and to foreigners, is hereby repealed.
Efficacy
This measure shall take effect on 1 January 1997.
Governor:
Ing. Tošovský v. r.
1) Measure Česká národní banka č. 311 / 1996 Coll., establishing payment titles for the purpose of determining the purpose of the payments.
2) § 3 (2) of Act No. 219 / 1995 Coll., Foreign Exchange Act.
3) § 2 of Act No. 219 / 1995 Coll.
4) § 22 of Act No. 219 / 1995 Coll.
5) Measure České národní banka No 2 of 26 June 1996 providing for the submission of reports by banks and branches of foreign banks to České národní banka, notified in amount 60 / 1996 Coll.
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Regulation Information
| Citation | Measure Česká národní banka č. 312 / 1996 Coll., laying down the procedure of banks and branches of foreign banks when making payments to and from abroad and towards foreigners and marking their purpose with payment titles |
|---|---|
| Regulation Type | Measures |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 31.12.1996 |
|---|---|
| Effective from | - |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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