Act No. 34 / 2025 Coll.
National Development Bank Act
Valid
Effective from 19.02.2025
34
THE LAW
of 22 January 2025
on the National Development Bank
Parliament has decided on this law of the Czech Republic:
Subject matter
This law governs
(a) certain rights and obligations relating to the activities of the National Development Bank, a.s. ("the National Development Bank"),
(b) certain rules governing the supervision of the activities of the National Development Bank;
(c) the jurisdiction of the Czech National Bank in the exercise of supervision and misdemeanour and remedies.
Relationship with other regulations
Unless otherwise provided for in this Act, the activities of the National Development Bank shall be governed by the Law on Banks and other legislation and directly applicable European Union provisions governing the activities that banks may carry out.
Basic provisions
Only the Czech Republic or any other legal person whose sole member is the Czech Republic may be a shareholder of the National Development Bank.
Purpose of the National Development Bank
(1) In its activities, the National Development Bank supports the economic, social and environmental development of the Czech Republic and the projects of municipalities and regions.
(2) In its activities, the National Development Bank participates in foreign development cooperation and projects in third countries.
(1) The National Development Bank is considered to be an institution for the purpose of complying with the provisions of the directly applicable European Union law.
(a) governing prudential requirements (1); or
(b) implementing or delegated a Regulation of the European Union directly applicable pursuant to (a).
(2) The National Development Bank is considered to be a credit institution for the purpose of complying with the provisions directly applicable to the European Union provisions on which the rights and obligations of credit institutions arise.
(3) If the National Development Bank acquires or increases participation in another bank, the acquired holdings shall not be deducted for the purposes of calculating the own funds requirement on an individual basis and shall have a risk weight of 100%.
(4) For the purposes of this Act, the institution is the institution referred to in Article 4 (1) (3) of Regulation (EU) No 575 / 2013 of the European Parliament and of the Council. For the purposes of this Act, a credit institution shall mean a credit institution as referred to in Article 4 (1) (1) of Regulation (EU) No 575 / 2013 of the European Parliament and of the Council.
For the performance of the activity National development banks shall not be subject to the provisions of the law governing the activities of banks
(a) the pursuit of an activity on the territory of another Member State of the European Union;
(b) insurance of deposit claims;
(c) withdrawal of a bank licence on the ground that the bank does not accept deposits from the public or grant loans for a period of 6 months.
Restrictions on the acceptance of deposits from the public and the provision of investment services
(1) The National Development Bank may not accept deposits from the public unless:
(a) deposits of municipalities, regions, urban areas of the capital of Prague and urban areas and districts of statutory cities; or
(b) the continuous issue of bonds and other comparable securities.
(2) The National Development Bank may not provide an investment service unless it is an investment service to the extent that no authorisation is required under the Capital Market Act to provide an investment service.
State guarantee conditions
(1) The Czech Republic is liable only for the debts of the National Development Bank with a maturity of more than 1 year corresponding to the funds received by the National Development Bank on the financial markets with the prior written approval of the Ministry of Finance.
(2) The provisions of the Law governing the budgetary rules on the obligation to pay an amount to the State Budget for the State guarantee are not applicable to the National Development Bank.
Interest on repayable financial assistance
Recovery financial assistance granted The National Development Bank can be remunerated. In such cases, the amount of interest shall be determined by a decision or a public contract granting repayable financial assistance.
Cash on accounts held by the Treasury
(1) The funds provided to the National Development Bank from the State Budget, in particular the funds for raising capital and the funds for credit and guarantee programmes, are received by the National Development Bank in its bank accounts subordinate to the Treasury and held with the Czech National Bank under the law governing the budgetary rules (hereinafter referred to as "the account subordinate to the Treasury") and are held in those accounts at least until they are used in the programmes for which they were designated. For this purpose, the time of execution under the credit or guarantee programme shall be considered as the moment of use of the funds in the credit or guarantee programme.
(2) The National Development Bank keeps cash equivalent to its capital in its accounts under the Treasury at the date of entry into force of this Act.
(3) In addition to the funds referred to in paragraphs 1 and 2, the National Development Bank shall keep in its accounts under the Treasury any other funds which it transfers or receives to those accounts.
(4) Paragraph 1 shall not apply to funds raised by the National Development Bank in the repayment of loans granted by the National Development Bank under credit programmes and the execution of debt resulting from the implementation of guarantee programmes.
Supervision
(1) The Czech National Bank oversees compliance
(a) obligations arising from the European Union provisions of the National Development Bank pursuant to Article 5 and the Act governing the activities of banks with the exception of Article 6;
(b) restrictions on the reception of deposits from the public pursuant to Article 7 (1); and
(c) restrictions on the provision of investment services pursuant to Article 7 (2).
(2) In the exercise of the supervision of the activities of the National Development Bank under this Act, the Czech National Bank is governed by the law governing the activities of the banks and by the directly applicable provisions of the European Union pursuant to § 5 (1) and (2).
(3) The Czech National Bank may, in the exercise of its supervision of the activities of the National Development Bank under this Act, impose corrective measures or other measures under the Act governing the activities of banks. The lack of activity under the law governing the activities of banks shall also mean infringement or non-compliance with the obligation of the National Development Bank under § 5 (3) or § 7.
Transfers
(1) The National Development Bank commits an infringement by:
(a) accept a deposit contrary to Article 7 (1); or
(b) provide an investment service contrary to Article 7 (2).
(2) A fine of up to 50 000 000 CZK may be imposed for the offence referred to in paragraph 1.
(1) The Czech National Bank is discussing transfers under this law.
(2) The Czech National Bank will publish, without undue delay, a final decision on the administrative penalty imposed in a way that allows remote access.
(3) The decision referred to in paragraph 2 shall remain published by the end of the fifth calendar year following that in which it was published.
Activity Report
The National Development Bank shall submit a report on its activities to the Chamber of Deputies no later than 30 June each year. This report shall always contain:
(a) details of the National Development Bank, at least its regulatory capital, balance sheet, debts guaranteed by the Czech Republic under Paragraph 8 (1), which ministries are involved in the exercise of the rights of the Czech Republic as a sole shareholder, and changes in the highest authority and elected bodies of the company; and
(b) information on developments in the assisted areas referred to in Article 4, including an evaluation of the effectiveness of the aid granted.
Approved financial holding person
(1) Where the Czech Republic is the sole shareholder of the National Development Bank and the National Development Bank controls the Bank, it shall be considered, for the purposes of fulfilling the requirements on a consolidated basis and supervision on a consolidated basis, under the law governing the activities of the banks and the directly applicable European Union regulation on prudential requirements (1) as an approved financial holding company under the law governing the activities of banks.
(2) For the purposes of this Act, the control referred to in Article 4 (1) (37) of Regulation (EU) No 575 / 2013 of the European Parliament and of the Council shall be considered.
(3) For the purposes of this Act, a consolidated basis shall be that referred to in Article 4 (1) (48) of Regulation (EU) No 575 / 2013 of the European Parliament and of the Council.
Transitional provisions
(1) The National Development Bank is the National Development Bank, a.s., which exists on the date of entry into force of this Act.
(2) The National Development Bank shall, within 12 months of the date of entry into force of this Act, settle commitments agreed before the date of entry into force of this Act resulting from:
(a) deposits received from the public to which the restriction laid down in Article 7 (1) applies; and
(b) the provision of investment services exceeding the limits laid down in Article 7 (2).
(3) Within 12 months of the date of entry into force of this Act, the National Development Bank shall transfer funds corresponding to the amount of its capital at the date of entry into force of the Act to its bank accounts held by the Czech National Bank.
(4) As from the date of entry into force of this Act, the National Development Bank shall be regarded as having been permitted to receive deposits from the public only in accordance with Article 7 (1).
(5) As from the date of entry into force of this Act, the National Development Bank is regarded as having been allowed to provide investment services only to the extent provided for in Section 7 (2), where the National Development Bank, a.s., was authorised to provide investment services in the bank licence before the date of entry into force of this Act.
Efficacy
This Act shall take effect on the day following its publication.
Pekarová Adamová v. r.
Pavel v. r.
Fiala v. r.
(1) Regulation (EU) No 575 / 2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and amending Regulation (EU) No 648 / 2012, as amended.
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Regulation Information
| Citation | Act No. 34 / 2025 Coll., on the National Development Bank |
|---|---|
| Regulation Type | - |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 18.02.2025 |
|---|---|
| Effective from | 19.02.2025 |
| Effective until | - |
| Status | Valid |
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