Decree No. 372 / 2012 Coll.
Decree amending Decree No. 233 / 2009 Coll., on applications, approval of persons and methods of demonstrating the professional competence, credibility and experience of persons and on the minimum amount of financial resources provided to the branch of a foreign bank, as amended
Valid
Order
Effective from 01.12.2012
Text versions:
01.12.2012
14.11.2012
372
DECLARATION
of 23 October 2012
amending Decree No 233 / 2009 Coll., on applications, approval of persons and the method of demonstrating the professional competence, credibility and experience of persons and on the minimum amount of financial resources provided to the branch of a foreign bank, as amended
The Czech National Bank provides pursuant to § 4 paragraph 8, § 5 paragraph 5 and § 20 paragraph 4 of Act No. 21 / 1992 Coll., on Banks, as amended by Act No. 126 / 2002 Coll., Act No. 230 / 2009 Coll. and Act No. 254 / 2012 Coll.:
Decree No 233 / 2009 Coll., on applications, approval of persons and the method of demonstrating the professional competence, credibility and experience of persons and on the minimum amount of financial resources provided to the branch of a foreign bank, as amended by Decree No 192 / 2011 Coll. and Decree No 58 / 2012 Coll., are amended as follows:
1. In the title of the Order, the words "and the minimum amount of financial resources provided to the branch of a foreign bank 'are deleted.
2. In Article 1 (1), in the introductory part of the provision, the words "particulars of applications," shall be deleted and the words "forms and" shall be inserted after the words "models."
3. in Article 1 (1) (a), the words "from a Member State other than a Member State" shall be inserted after the words "a branch licence";
4. Paragraph 1 (3) is deleted.
5. in Article 2 (k):
"(k) a person who is a regulated entity on the financial market, a legal person established in a Member State whose business is the activity of a bank, a securities dealer, an investment company, an investment fund, a pension company, an insurance undertaking and a reinsurance undertaking, a payment institution, an electronic money institution, or another regulated activity on the financial market and which is subject to supervision by the competent authority of a Member State in its country of residence."
6. In Article 3 (1), "Section 4 (1) 'is replaced by" Section 4 (8)' and "Form 'is replaced by" Form'.
7. Paragraph 4 (4) and (5) read:
"(4) Where a person with a qualifying holding in an applicant is a person who is a regulated entity on the financial market, the applicant shall not attach the annexes referred to in paragraph 3 (b) to (d) and (f) to (h).
(5) Where a person with a qualifying holding in an applicant is a person whose qualifying holding is due to an indirect holding through a person who is a regulated entity in the financial market, the applicant shall:
(a) it shall not attach the annexes referred to in paragraph 3 (b) to (d) and (f) to (h); and
(b) attach the original final decision of the competent supervisory authority to which that person has been authorised to acquire a qualifying holding in a person who is a regulated entity on the financial market. Where such a decision is not issued by the competent supervisory authority, the applicant shall submit an opinion to that authority that that person has acquired a qualifying participation in a person who is a regulated entity on the financial market, in his knowledge and in accordance with the law of the country of residence of the person who is a regulated entity on the financial market. ';
8. In Part Two of Title II, the heading reads: "BANKNOTES, ELECTRICITY BACKGROUND AND BOOK OF BANKS OTHER THAN THE MEMBER STATE '.
9. In Article 5, in the text in brackets under the heading, the words "Section 4 (1) 'are replaced by the words" Section 4 (8)'.
10. The group title above Sections 6 and 7 shall read as follows: "Licences for a branch of a bank other than a Member State."
11. in Article 6 (1), the word "foreign" shall be deleted; after the word "bank" the words "from a Member State other than a Member State" shall be inserted and after the word "6" at the end of the sentence of the second sentence the words "and Section 7" shall be added.
12. in Article 6 (2) (e), after the words "[§ 2 (b)]" the comma is replaced by "a."
13. in Article 6 (2), point (f) is deleted;
Point (g) shall be renumbered as point (f).
14.
(1) The licence applicant shall also accompany the application referred to in Article 6 (1):
(a) an analysis of the comparability of laws or regulations relating in particular to:
1. the legal and institutional status of the supervisory authority of the State of the applicant's registered office (hereinafter referred to as the "foreign supervisory authority"), its independence, competence and responsibility in the exercise of banking supervision;
2. the arrangements for granting and withdrawing the licence to the bank, the assessment of the person proposed to lead the bank and the acquisition of a qualifying holding in the bank,
3. the exercise of supervision of the Bank and its branch abroad, including the exercise of supervision on a consolidated basis;
4. the prudential rules of banks' business, in particular capital adequacy, engagement, liquidity, management and control system, including risk management system;
5. the system of remedies and penalties;
6. the arrangements for cooperation and exchange of information with other States' supervisory authorities;
7. accounting and adjustments to the obligation to ensure the audit of the Bank's accounts;
8. Modifications of the Bank's information obligation towards the supervisory authority and the public, provision of information obtained in the exercise of supervision to third parties;
9. the definition of banking secrecy and its protection, the use of confidential information and the treatment of confidentiality obligations; and
(b) the original of the written opinion of the foreign supervisory authority on the applicant's intention to establish a branch of the bank in the Czech Republic and his declaration that the branch will be supervised by the bank and that the legal order of the State of the foreign bank's registered office does not provide any obstacles to the effective exchange of information between the Czech National Bank and the foreign supervisory authority.
(2) The analysis of comparability referred to in paragraph 1 (a) shall also be accompanied by an assessment of any differences in the areas referred to in points 1 to 9 as compared to similar provisions in force in the European Union concerning the exercise and supervision of banks. Where an analysis is prepared by a person other than a foreign supervisory authority, such analysis shall be accompanied by a statement from the foreign supervisory authority certifying the accuracy of the information communicated and the conclusions. ';
15. in Article 20 (3) and (4):
"(3) Where the applicant is a person who is a regulated entity on the financial market, the applicant shall submit an application on a form, a model of which is set out in Annex 7 to this decree, to obtain or increase a qualifying holding in a regulated legal entity or to control it. The application shall be accompanied by:
(a) the original document of the business authorisation [§ 2 (a)],
(b) strategic plan (§ 2 (g));
(c) the original proofs of origin of the funds from which the acquisition or increase of the qualifying holding is covered; and
(d) a contract on the basis of which the applicant becomes a person controlling a regulated legal person, where such a contract is concluded, or a draft of such a contract.
(4) Where an applicant is to acquire or increase a qualifying participation in a regulated legal person through a person who is a regulated entity on the financial market, he shall submit an application on a form, a specimen of which is given in Annex 7 to this Order. The application shall be accompanied by only the original final decision of the competent supervisory authority to which it has been authorised to acquire a qualifying holding in a person who is a regulated entity on the financial market. Where such a decision is not issued by the competent supervisory authority, the applicant shall provide the opinion of that supervisory authority that the applicant has obtained a qualifying participation in a person who is a regulated entity on the financial market, in his knowledge and in accordance with the law of the country of residence of the person who is a regulated entity on the financial market. ';
16. The title of Annex 5 shall read as follows:
"Licence application for a branch of a bank other than a Member State '.
Efficacy
This Decree shall take effect on 1 December 2012.
Governor:
Ing. Singer, Ph.D., v. r.
Sign in for notes, favorites and notifications
Regulation Information
| Citation | Decree No. 372 / 2012 Coll., amending Decree No. 233 / 2009 Coll., on applications, approval of persons and methods of demonstrating the professional competence, credibility and experience of persons and on the minimum amount of financial resources provided to the branch of a foreign bank, as amended |
|---|---|
| Regulation Type | Order |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 14.11.2012 |
|---|---|
| Effective from | 01.12.2012 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
Comments 0