Act No. 363 / 2022 Coll.
Act amending Act No. 58 / 1995 Coll., on Insurance and Financing of Exports with State Aid and supplementing Act No. 166 / 1993 Coll., on the Supreme Audit Office, as amended, as amended
Valid
Law
Effective from 01.12.2022
Text versions:
01.12.2022
30.11.2022
363
THE LAW
of 3 November 2022
amending Act No. 58 / 1995 Coll., on Insurance and Financing of Exports with State Aid and supplementing Act No. 166 / 1993 Coll., on the Supreme Audit Office, as amended, as amended
Parliament has decided on this law of the Czech Republic:
Act No. 58 / 1995 Coll., on Insurance and Financing of Exports with State Aid and supplementing Act No. 166 / 1993 Coll., on the Supreme Audit Office, as amended, as amended, as amended, Act No. 60 / 1998 Coll., Act No. 188 / 1999 Coll., Act No. 282 / 2002 Coll., Act No. 377 / 2005 Coll., Act No. 23 / 2006 Coll., Act No. 293 / 2009 Coll., Act No. 230 / 2013 Coll., Act No. 220 / 2015 Coll., Act No. 371 / 2017 Coll., Act No. 171 / 2018 Coll. and Act No. 214 / 2020 Coll., is amended as follows:
1. In the title of the Act, the words "and to supplement Act No. 166 / 1993 Coll., on the Supreme Audit Office, as amended," are deleted.
2. In the first sentence of Article 1 (1), the words "adapted in accordance with the law of the European Communities (1) and the obligations arising from the membership of the Czech Republic in the World Trade Organisation (1) 'are replaced by the words" incorporating the relevant provisions of the European Union1), followed by the directly applicable regulation of the European Union2) and, in accordance with the obligations arising from the membership of the Czech Republic in the European Union, in the World Trade Organisation, in the Organisation for Economic Cooperation and Development and in other international organisations (3), the words "production and trade' are replaced by the words" producers and export oriented '.
footnotes 1 to 3 are as follows:
"(1) Council Directive of 1 February 1971 on the harmonisation of the basic provisions relating to guarantees for short-term business (political risks) with public or private customers (71 / 86 / EEC). Council Directive of 27 November 1984 on the reciprocal obligations of Member States' export credit insurance institutions acting on behalf of or with its support, or of public authorities acting on behalf of such institutions, in the case of co-insurance for transactions involving one or more subcontracting in one or more Member States of the European Communities (84 / 568 / EEC). Council Directive 98 / 29 / EC of 7 May 1998 on the harmonisation of the main provisions relating to export credit insurance for medium and long-term cover operations, as amended by Council Regulation (EC) No 806 / 2003 of 14 April 2003.
(2) Regulation (EU) No 1233 / 2011 of the European Parliament and of the Council of 16 November 2011 on the application of certain rules in the field of officially supported export credits and repealing Council Decisions 2001 / 76 / EC and 2001 / 77 / EC, as amended.
3) Agreement establishing the World Trade Organisation (WTO) published in the Communication of the Ministry of Foreign Affairs published in the Collection of Laws under No. 191 / 1995 Coll. '
3. In Paragraph 1 (2) (j), the words "permanent residence or residence in the Czech Republic 'are deleted.
4. in Article 1 (2) (k), the words "and direct" shall be inserted after the word "refinancing."
5. In Article 1, at the end of paragraph 2, the dot is replaced by a comma and the following points (l) and (m) are added:
"(l) insurance of loans granted to an export-oriented enterprise to improve international competitiveness,
(m) insurance of direct and indirect guarantees and guarantees linked to the activity of export-oriented undertakings or financial services provided by an export-oriented bank, a foreign bank against the risk of non-compliance with an export-oriented undertaking or a foreign person's obligations. "
6. In Paragraph 1 (3) of the Introductory Part of the provision, the words "and the granting of export credits, export finance, investment credits and project financing 'are replaced by the words" to promote export and export-oriented enterprises' and the word "export 'is replaced by the words" export support and export-oriented enterprises'.
7. in Paragraph 1 (3) (a), the following point 3 is inserted after point 2:
"3. to an export-oriented bank for increasing the international competitiveness of an export-oriented company, '.
Points 3 and 4 shall become points 4 and 5.
8. in Paragraph 1 (3) (b), the following point 3 is inserted after point 2:
'3. an export-oriented undertaking to increase international competitiveness, ';
Points 3 to 5 shall become points 4 to 6.
9. in § 1 (3) (c) of the introductory part of the provision and in § 2 (g), the word "export" shall be replaced by the words "export promotion and export-oriented undertakings."
10. In the first sentence of Article 1 (5), the words "production and trade 'are replaced by the words" producers and export-oriented' and the words "production and trade-oriented 'are replaced by the words" producers and export-oriented' and the words "exporters, producers and exports' are inserted after the words" COVID-19 '.
11. in Article 2 (u), the words "export oriented undertaking" shall be inserted after the words "exporter."
12. in Article 2 (v), the word "or" shall be replaced by the words "the bank of the importer," and at the end of the text of the letter the words "the bank of the export-oriented undertaking or the bank of a foreign person" shall be added.
13. in Article 2, at the end of point (ll), the dot is replaced by a comma and the following points (mm) and (nn) are added:
"(mm) a bank of an export-oriented undertaking, a bank, a branch of a bank or a financial institution under the directly applicable European Union15 Regulation), irrespective of its registered office or place of registration subject to the authorisation regime of the home State and the supervision of the home supervisory authority which provides the export-oriented undertaking with a credit to increase international competitiveness;
(nn) by an export-oriented undertaking, a person established in the territory of the Czech Republic who is an entrepreneur under the Civil Code or a foreign company where the share of exports in total annual sales of products, services and goods during the last financial year has reached at least 25%. "
14. In Article 4 (3), the third sentence is replaced by the sentence "Funds to cover commitments under the guarantees provided under Article 1 (5) shall consist of the appropriations allocated by the Government to the State budget by decision of the Government." and in the fourth sentence, the words "in relation to the disease pandemic COVID-19 'are deleted.
15. in the second sentence of Article 4 (5), the words "guaranteed" shall be replaced by the words "guarantees granted" and in the fourth sentence the word "guarantees" shall be replaced by "guarantees."
16. in Article 5 (1) and (2):
"(1) The application for export credit risk insurance shall be submitted by the exporter, the manufacturer, the investor, the export oriented undertaking or the producer's bank, the export bank, the exporter's bank, the importer's bank, the investor's bank or the export oriented undertaking's bank to the export insurance company.
(2) In the application for insurance of export credit risks, the person referred to in paragraph 1 shall indicate:
(a) their identification details, in the case of a legal person, of a trading firm or name, the identification number of the person, where assigned, the legal form and the registered office; in the case of a natural person, his or her name and surname, the identification number of the person, if assigned, the subject of the activity, the address of his or her registered office or place of residence in the Czech Republic or, where applicable, his or her residence, if the natural person does not have a place of permanent residence in the Czech Republic (hereinafter referred to as "identification details'),
(b) for a legal person, the structure of its members, including the indication of the beneficial owner under the law governing the registration of beneficial owners;
(c) the characteristics of the subject of insurance and the required value of insurance and the volume of export or investment, the sum of repayments of principal and interest of the credit concerned or the value of the guarantee;
(d) the estimated share of export value to be created in the Czech Republic,
(e) identification of the foreign person to whom the export credit is granted;
(f) other information referred to in the insurance conditions of the export insurance undertaking. "
footnote 6 is deleted, including the reference thereto.
17. in Article 5 (3), the words "after checking the information provided in the application and the risk assessment of the return referred to in Article 3 (1)" and the words "with the applicant" shall be deleted;
(18) footnotes 7 and 8, including references thereto, are deleted.
19. In Paragraph 6 (2), the second sentence, including footnote 8a, is deleted and the third and fourth sentences are replaced by the following: "The resources for supported financing are obtained by the Export Bank from the funds provided by the State budget, loans received or loans granted by the Ministry of Finance under the Finance Act 5) or on the financial markets. The costs associated with the operation of the supported financing shall be borne mainly by the Export Bank on the part of the interest income of 100 basis points on the interest rate used to provide the supported financing up to the maximum necessary to cover the reported operating loss. ';
20. Paragraph 6 (4) reads:
"(4) In order to cover the losses of the export bank resulting from the operation of the supported financing, State budget subsidies are granted. Such losses shall consist of differences between the cleared interest income in the provision of long-term supported financing minus interest income referred to in paragraph 2, interest income on the temporary use of financial resources for the supported financing and the cleared interest costs for the acquisition of financial resources, the remuneration agreed between the creditor and the export bank, the cost of recovering such financial resources, the recognised remuneration and commissions received by the Export Bank on the guarantees issued and the cost of guarantees, the cost of reserve formation and the adjustment appropriations, the proceeds of their use or dissolution, the cost of amortisation of claims, the proceeds of the premiums received and other security, the profits and losses resulting from the modification of financial assets relating to the supported financing, the differences in exchange rates and other costs incurred by the export bank for the financial resources supported financing. '
21. in Article 6, the following paragraphs 5 and 6 are inserted after paragraph 4:
"(5) The application for a loss payment subsidy is submitted by the Export Bank to the Ministry of Finance. When submitting a request for a subsidy from the State Budget when drawing up a draft State Budget, when submitting a request for a loss subsidy and when paying a grant, the Act on the Budget Rules 5 is followed accordingly, taking into account the nature and activity of the Export Bank.
(6) The time limits for the application of the subsidy requirement, the submission of the grant application, the method for determining its amount on the basis of the results of the management, the procedure for checking the accuracy of the subsidy amount required in accordance with paragraph 7, the method for granting the grant awarded and the evidence demonstrating the justification of the grant requirement and the application for the subsidy and its amount are laid down by the Ministry of Finance by decree. "
Paragraphs 5 to 9 shall be renumbered paragraphs 7 to 11.
22. in Article 6 (7), the last sentence shall be deleted;
23. in Article 7 (1) and (2):
"(1) The request for supported financing shall be submitted by the exporter's bank, the manufacturer's bank, the investor's bank, the export oriented bank, the importer's bank, the foreign person, the exporter, the investor, the export oriented undertaking or the exporting bank's manufacturer.
(2) In the application for supported financing, the person referred to in paragraph 1 shall indicate:
(a) their identification data;
(b) for a legal person, the structure of its members, including the indication of the beneficial owner under the law governing the registration of beneficial owners;
(c) the characteristics of the object and volume of export or investment and the required value of the product supported by financing or financial services related to export;
(d) data relating to the time distribution of drawing and repayment of the supported financing or duration of the financial service related to export;
(e) the estimated share of export value to be created in the Czech Republic,
(f) identification of the foreign person to whom the export credit is granted;
(g) other information specified in the general terms and conditions of the export bank. "
24. in Article 7, paragraph 3 is deleted;
Paragraphs 4 and 5 shall be renumbered paragraphs 3 and 4.
25. in Article 7 (3), the words "after checking the information provided in the application and assessing the risk of return referred to in Article 3 (1)" shall be inserted after the words "the bank."
26.
The granting of State aid under this Act must comply with the State aid law and the European Union State aid rules (14).
14) Act No. 215 / 2004 Coll., on the modification of certain public aid relations and amending the Act on the promotion of research and development, as amended. Articles 107 and 108 of the Treaty on the Functioning of the European Union. '
27. Part Two shall be deleted, including the title.
Efficacy
This Act shall take effect on the day following its publication.
Pekarová Adamová v. r.
Zeman v. r.
Fiala v. r.
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Regulation Information
| Citation | Act No. 363 / 2022 Coll., amending Act No. 58 / 1995 Coll., on Insurance and Financing of Exports with State Aid and supplementing Act No. 166 / 1993 Coll., on the Supreme Audit Office, as amended, as amended |
|---|---|
| Regulation Type | Law |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 30.11.2022 |
|---|---|
| Effective from | 01.12.2022 |
| Effective until | - |
| Status | Valid |
Parliamentary Paper:
Paper No. 298
The regulation text is for informational purposes only.
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