What is Act No. 375 / 2015 Coll.?

Act No. 375 / 2015 Coll., amending certain laws in connection with the adoption of the Law on Recovery and Resolution in the Financial Market and in connection with the modification of the Deposit Guarantee Scheme — Law amending certain laws in connection with the adoption of the Law on Recovery and Resolution of the Financial Market and in connection with the modification of the Deposit Guarantee Scheme.

When it became Act No. 375 / 2015 Coll. effectiveness?

Act No. 375 / 2015 Coll. became effective 01.01.2016.

Is Act No. 375 / 2015 Coll. still valid?

Yes, Act No. 375 / 2015 Coll. is still valid and effective.

How many times was it Act No. 375 / 2015 Coll. amended?

Act No. 375 / 2015 Coll. has 5 time versions of the text.

Act No. 375 / 2015 Coll.

Law amending certain laws in connection with the adoption of the Law on Recovery and Resolution of the Financial Market and in connection with the modification of the Deposit Guarantee Scheme

Valid Law Effective from 01.01.2016

Text versions: 01.01.2025 01.06.2016 01.01.2016 28.12.2015

ČÁST PRVNÍ Čl. I „§ 7b „§ 41ca § 41cb § 41cc § 41cd § 41ce „§ 41e „§ 41ea § 41eb „§ 41j „§ 41k „§ 41n „§ 41p § 41q § 41r § 41s „§ 44d § 44e § 44f Čl. II ČÁST DRUHÁ Čl. III „§ 2aa „§ 14 ČÁST TŘETÍ Čl. IV „§ 7b ČÁST ČTVRTÁ Čl. V „§ 368a § 368b § 368c § 368d § 368e „§ 374 § 374a ČÁST PÁTÁ Čl. VI ČÁST ŠESTÁ Čl. VII ČÁST SEDMÁ Čl. VIII ČÁST OSMÁ Čl. IX ČÁST DEVÁTÁ Čl. X „§ 33a ČÁST DESÁTÁ Čl. XI ČÁST JEDENÁCTÁ Čl. XII ČÁST DVANÁCTÁ Čl. XIII ČÁST TŘINÁCTÁ Čl. XIV ČÁST ČTRNÁCTÁ Čl. XV ČÁST ŠESTNÁCTÁ Čl. XVII ČÁST SEDMNÁCTÁ Čl. XVIII ČÁST OSMNÁCTÁ Čl. XIX ČÁST DEVATENÁCTÁ Čl. XX „§ 33a ČÁST DVACÁTÁ Čl. XXI ČÁST DVACÁTÁ PRVNÍ Čl. XXII ČÁST DVÁCÁTÁ DRUHÁ Čl. XXIII

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375

THE LAW

of 10 December 2015

amending certain laws in the context of the adoption of the Law on Recovery and Resolution in the Financial Market and in the context of the adjustment of the deposit guarantee scheme

Parliament has decided on this law of the Czech Republic:

ČÁST PRVNÍ

Amendment to the Banking Act

Čl. I

Act No. 21 / 1992 Coll., as amended by Act No. 264 / 1992 Coll., Act No. 100 / 2011, Act No. 100 / 2011, Act No. 100 / 2011, Act No. 100 / 2011, Act No. 100 / 2011, Act No. 100 / 2011, Act No. 100 / 2011, Act No. 100 / 2011, Act No. 100 / 2011, Act No. 100 / 2011, Act No. 100 / 2011, Act No. 100 / 2011, Act No. 100 / 2011, Act No. 100 / 2011, Act No. 100 / 2011, Act No. 100 / 2011, Act No. 100 / 2011, Act No. 100 / 2011, Act No. 100 / 2011 / 2011, Act No. 100 / 2011, Act No. 100 / 2011, Act No. 100 / 2011, Act No. 100 / 2011, Act No. 100 / 2011, Act No. 100 / 2011, Act No. 100, Act No. 100, Act No. 100 / 2011, Act No. 100, Act No. 100, Act No. 2011, Act No. 2011, No. 2011, No. 100, No 2011, No. 100, No. 100, No 2011, No. 2011, No. 2011, No. 2011, No. 100, No. 2011, No. 2011, No. 2011, No. 2011, No. 2011, No. 2011, No. 2011, No. 2011, No.

1. In Article 5a (4), "Article 11 (1), (2) and (5) 'is replaced by" Article 11 (1) to (6) and (9)'.

2. Paragraph 5a (6) is deleted.

Paragraphs 7 to 9 shall be renumbered paragraphs 6 to 8.

3. in Article 5a (6) (a), "Article 11 (1), (2) and (5)" shall be replaced by "Article 11 (1) to (6) and (9)";

4. The following Section 7b is inserted after Section 7a, including the title:

„§ 7b

Special provisions on the licensing of resolution

(1) The Czech National Bank may, on its own initiative for a limited period of time, grant a licence to a bridging institution under a law governing recovery and resolution of the financial market, provided that it does not fulfil the conditions for granting a licence under Section 4.

(2) If the acquirer of the assets or debts of the obliged entity submits a request for a licence under the law governing recovery and resolution on the financial market, the Czech National Bank shall assess the application without undue delay. '

5. In the first sentence of Article 11 (1), the words "Banks and branches of foreign banks are obliged to inform 'are replaced by the words" Bank and branch of foreign banks inform' and in the second sentence, the words "are obliged to provide 'are replaced by the words" providing'.

6. Paragraph 11 (2) reads as follows:

"(2) The bank and the branch of a foreign bank shall inform the client of the deposit claims insurance scheme in which they participate and shall also provide him with further information on the functioning of the relevant deposit claims insurance scheme within the scope of the client information sheet referred to in paragraph 6. This information shall be provided to the client in a verifiable manner before the conclusion of an account agreement or before acceptance of the deposit, either in the Czech language or in the language agreed upon by the bank or branch of the foreign bank with the client. The bank or branch of a foreign bank shall ensure that the client has received this information in writing and shall keep it for the entire duration of the deposit. ';

7. In Article 11, the following paragraphs 3 to 6 are inserted after paragraph 2:

"(3) If the deposit claim is subject to the protection provided by the deposit claim insurance scheme, the bank and the branch of the foreign bank shall indicate it in the account statement or in a similar document to the client and, in that case, shall also refer to the client information sheet referred to in paragraph 6. This information summary shall be provided by the bank or branch of the foreign bank to the client at least once a year.

(4) Where a client uses an electronic banking system, the bank or branch of a foreign bank may communicate the information referred to in paragraphs 2 and 3 through that system. At the client's request, the bank or branch of a foreign bank shall provide this information in paper form.

(5) The financial market guarantee system (hereinafter referred to as the Guarantee System) publishes information in a way that allows remote access, in particular concerning the terms and conditions of insurance of deposit claims, the procedure for their application and payments from the Deposit Guarantee Fund (hereinafter referred to as the Fund).

(6) The information sheet for the client contains basic information on the insurance limit, the payment deadline and the currency in which the reimbursement of the deposit claim will be paid and on which deposit claims scheme the deposit is subject and other related information needed for the client. The Czech National Bank shall establish by decree a model of this information summary. '

Paragraphs 3 to 5 shall be renumbered paragraphs 7 to 9.

8. In Article 11 (9), the words "Banks and branches of foreign banks are required to be introduced 'are replaced by the words" Bank and branch of foreign banks shall be introduced' and the word "inform 'shall be replaced by the word" inform'.

9. Paragraph 16 (5) is deleted.

Paragraph 6 shall become paragraph 5.

10. In Paragraph 20, the following sentence is added at the end of paragraph 7: "If the decision on a request for a private acquirer to switch to a private acquirer under a law governing financial recovery and resolution, the Czech National Bank shall proceed in such a way that the implementation of the transition is not delayed and that the purpose of the resolution is not prevented."

11. in Article 25a (1), the words "or forced administration" shall be deleted;

12. in Article 25a (2), the words "forced administration" shall be deleted;

13. in Article 25a (3), the words "or the resolution authority" shall be added at the end of the text of point (a).

14. in Article 25a (3), the words "or for resolution purposes under the law governing financial market recovery and resolution procedures" shall be added at the end of the text in point (b).

15. in Article 25a (3) (c), the words "or to deal with a crisis" shall be inserted after the word "market."

16. in Article 25a (4) (k), the words "and investor insurance" are replaced by the words "insurance schemes and resolution financing mechanisms,"

17. in Article 25a (4), at the end of point (l), the dot is replaced by a comma and the following point (m) is added:

"(m) other persons or bodies where the provision of information is necessary for the resolution of the crisis and is not a breach of confidentiality under the law governing recovery and resolution of the financial market.";

(18) Paragraph 25f, including footnote 30, is deleted.

19. in Article 26 (6), point (c) is deleted;

Points (d) to (g) shall be renumbered (c) to (f).

20. in Paragraph 26 (8), "paragraphs 6 (c) and (e)" shall be replaced by "paragraph 6 (d)";

21. in Article 26 (8), the words "and 6 (c)" shall be deleted;

22. in Paragraph 26 (9), "paragraph 6 (g)" is replaced by "paragraph 6 (f)";

23. Part Nine, including the title and footnotes 6c, 15 and 16, shall be deleted.

24. In Paragraph 34 (1), the part of the sentence behind the semicolon, including the semicolon, is deleted.

25. In the second sentence of Article 34 (3), the words "forced administration or special purpose bank 'are replaced by the words" against which resolution measures have been applied under the law governing financial market recovery and resolution procedures'.

26. In Article 36 (4), the words "and the Guarantee System 'are inserted after the words" the Czech National Bank', and the words "and the Guarantee System 'are inserted after the words" the Czech National Bank'.

27. in Paragraph 36b, paragraph 4 is deleted;

Paragraphs 5 to 7 shall be renumbered paragraphs 4 to 6.

28. in Article 36b (4), the words "Deposit Guarantee Fund" are replaced by the words "Guarantee system and deposit information" and the words "Section 41d (2)" are replaced by the words "Section 41d (4) and (5) and Section 41g (5)."

29. In Paragraph 36b, the following paragraph 5 is inserted after paragraph 4:

"(5) The liquidator, administrator, deputy administrator or insolvency administrator shall commit an infringement by not providing synergies to the Guarantee System pursuant to § 41eb (3)."

Paragraphs 5 and 6 shall become paragraphs 6 and 7.

30. in Article 36b (7) (a), "paragraph 5" is replaced by "paragraphs 4 or 5."

31. in Article 36b (7) (b), "paragraphs 1 to 4" shall be replaced by "paragraphs 1 to 3."

32. in Article 36e (1) (h), "or 2" is replaced by "to 4."

33.In Article 36e (1) (i), "Article 11 (4)" is replaced by "Article 11 (8)."

34. in Paragraph 36e (5) (f), the words "deposit guarantee" shall be deleted;

35. in Article 36e (5) (h), the words "Deposit Guarantee Fund" shall be replaced by the words "Guarantee system and deposit information," the words "§ 41c (11), § 41d (2)" shall be replaced by "§ 41c (10), § 41d (4) and (5)" and the words "§ 41f (3)" shall be inserted after the words "§ 41f (5)."

36. in Article 36e (5), the following point (i) is inserted after point (h):

"(i) does not provide synergies to the Guarantee System pursuant to § 41eb (3),"

Points (i) and (j) shall be renumbered as points (j) and (k).

37.In Article 36g (1) (c), "or 2 'is replaced by" to 4';

38. in § 36g (1) (d), "§ 11 (5)" is replaced by "§ 11 (9)."

39. in Paragraph 36g, paragraph 2 is deleted;

Paragraph 3 shall become paragraph 2.

40. in Paragraph 36g (2) (c), the words "or paragraph 2" shall be deleted;

41.In Article 36h (1) (g), "Article 11 (3)" is replaced by "Article 11 (7)."

42. In Paragraph 36h (1) (h), "§ 11 (4)" is replaced by "§ 11 (8)."

43. In Paragraph 36h (1) (i), "§ 11 (5)" is replaced by "§ 11 (9)."

44. in Article 36h (3) (m), the words "deposit guarantee or" shall be replaced by a comma.

45. in Article 36h (3) (n), the words "Deposit Guarantee Fund" are replaced by the words "Guarantee system and deposit information," the words "§ 41c (11), § 41d (2)" are replaced by the words "§ 41c (10), § 41d (4) and (5)" and the words "§ 41f (3)" are inserted after the words "§ 41f (5)."

46. In Paragraph 36h, at the end of paragraph 3, the dot is replaced by "or 'and the following point (o) is added:

"(o) does not provide synergies to the Guarantee System pursuant to § 41eb (3)."

47. in Article 36h (4) (c), "or (n)" is replaced by "(n) or (o)."

48. in Paragraph 38d (2), at the end of the text in point (b), the words "the information on the licence granted shall always indicate that the bank's deposit claims are covered by the Guarantee System."

49. in Paragraph 38d (2) (d) (1), "EUR" is replaced by "EUR";

50. in the last sentence of Paragraph 39 (1), "§ 41d (2)" is replaced by "§ 41d (4) and (5), § 41g (5)";

51. in Article 41a (1) to (4):

"(1) Insurance of deposit claims in the Czech Republic is provided by the Guarantee System established under the Law on Recovery and Resolution of the Financial Market.

(2) The guarantee system manages part of its assets in the Fund.

(3) A bank and a branch of a bank from outside a Member State participate in a deposit-guarantee scheme and contribute to the Fund to the extent provided for by this law.

(4) The resources of the Fund are contributions from banks and branches of banks from a non-Member State, the funds provided by the Guarantee System under § 41i, subsidies, repayable financial assistance and loans granted by the Czech National Bank under the Act on the Czech National Bank. The resources of the Fund shall also include other revenue, in particular revenue from the investment of funds and proceeds from the winding-up of insolvency and liquidation proceedings. ';

footnote 12 is deleted.

2. in Article 41a (5), the words "the operation of the Fund" shall be replaced by the words "the operation of the Guarantee System";

53.Paragraph 41a (6) is deleted.

Paragraph 7 shall become paragraph 6.

54. in Article 41a (6), "Fund" is replaced by "Guarantee system";

55. In Paragraph 41b, paragraphs 1 to 7 are deleted and paragraph 8 is deleted.

56. In Section 41b, the first sentence is deleted and after the word "confidentiality" the words "under the law governing financial market recovery and crisis management" shall be inserted and the words "and Section 41o (2)" shall be replaced by the words "Section 41o (2), Section 41p (1) and (2) and Section 41q (2)";

57. in Paragraph 41c (1), the words "and in the law governing action against the legalisation of proceeds from crime" shall be inserted after the words "paragraph 3."

58. in Paragraph 41c (2):

"(2) Deposit claims are not insured

(a) banks, branches of a bank from another Member State of the savings and credit cooperative, securities dealer and foreign persons with similar activities; This does not apply if the claims on deposits transferred by such persons to a third party otherwise due are met under § 41f;

(b) financial institutions and foreign persons with similar activity; This does not apply if the deposit claims of a payment institution, a small-scale payment service provider, an electronic money institution and a small-scale electronic money issuer transferred by such persons to a third party who would otherwise be entitled to reimbursement are met under the conditions set out in Paragraph 41f;

(d) health insurance companies and foreign persons with similar activity;

(e) the State;

(f) a local authority whose tax revenue under the Finance Tax Act (hereinafter referred to as "tax revenue") is higher than the amount corresponding to EUR 500 000 under the conditions set out in paragraph 8;

(g) representing claims which the bank is entitled to partially include in its own funds in the form of subordinated debt; and

(h) resulting from a criminal offence committed intentionally by a final judgment to legalise the proceeds of crime, unless they have been secured for the benefit of the victim of crime. "

59. In Paragraph 41c (3) of the introductory part of the provision, the words "and a branch of a bank other than a Member State" shall be inserted after the word "Bank."

60. in § 41c paragraphs 6 to 9 read:

"(6) The amount for the purpose of determining the amount of the tax revenue of the territorial unit referred to in paragraph 2 (f) shall be converted into the Czech currency according to the rate declared by the Czech National Bank for the last day of the calendar year to which the tax revenue relates.

(7) The Land Authority shall provide evidence to the bank and the branch of the Bank from a non-Member State of the amount of the tax revenue referred to in paragraph 2 (f) by the actual tax revenue for the year preceding the year in which the claims on the deposits of the Land Authority are to be insured.

(8) Claims arising from deposits of a geographical unit shall be insured if the territorial unit provides proof to the bank or branch of a bank other than a Member State that the amount of actual tax revenue referred to in paragraph 7 does not exceed the amount set out in paragraph 2 (f). The claims arising from the deposit of a local unit shall be insured from the beginning of the calendar year in which they are to be insured in accordance with paragraph 7 or from the date on which the bank issues the confirmation referred to in paragraph 9 that the claims on the deposit of a local unit satisfy the conditions for their insurance, whichever is the later, until the end of the calendar year in which they are to be insured in accordance with paragraph 7. The evidence of actual tax revenue after the applicable date pursuant to Paragraph 41d (2) shall not be taken into account.

(9) A bank and a branch of a bank other than a Member State shall, without undue delay, issue a confirmation to the local authority of whether and for which period the claims on the deposit of the local authority are covered. "

61. in Paragraph 41c, paragraph 10 is deleted;

Paragraph 11 shall become paragraph 10.

62. In Article 41c (10), the words "and the branch of a bank from a non-Member State" shall be inserted after the words "the Bank," the number "2" shall be replaced by "the Fund," shall be replaced by "the Guarantee System."

63. The following Sections 41ca to 41ce are inserted after Section 41c, including footnote 33:

„§ 41ca

(1) By 10 April each year, the guarantee system will notify the Czech National Bank of the current amount of funds in the Fund on 31 March of the relevant year.

(2) By 31 May each year, the Czech National Bank shall determine the amount of the Bank's annual contribution in accordance with the European Banking Authority Guidelines governing the methods for calculating contributions to deposit guarantee schemes in order to take into account the total amount of covered deposit claims and the level of risk that the Bank is taking. The Czech National Bank shall publish in a way that allows remote access the annual rate of contributions and the value of the coefficient governing the total amount of annual contributions.

(3) The Czech National Bank will publish the method of calculating risk weights by means of an official communication from the Czech National Bank in the Bulletin of the Czech National Bank.

(4) If the amount of funds in the Fund is 0,8% of the amount of insured deposit claims referred to in Article 41c (1), the amount of which does not exceed EUR 100 000 per beneficiary for one bank or branch of a bank other than a Member State (hereinafter the "covered deposit claim '), the Czech National Bank shall determine the annual contribution rate so that the total amount of the annual contributions set out in the relevant calendar year corresponds to 0,045% of the volume of covered deposit claims.

(5) If the amount of funds in the Fund falls below 0,8% of the amount of covered deposit claims, the Czech National Bank shall set the annual rate of contributions and the coefficient governing the total amount of annual contributions, so that the amount of funds in the Fund is reached within a reasonable period of time, not later than 5 years from the end of the calendar year in which the decrease occurred, depending on the amount of the missing funds in the Fund. If the amount of funds in the Fund falls below two-thirds of the amount of covered deposit claims, the Czech National Bank shall set the annual rate of contributions and the coefficient governing the total amount of annual contributions, so that the amount of funds in the Fund of 0,8% of the amount of covered deposit claims is reached within 6 years of the end of the calendar year in which the decrease occurred.

§ 41cb

(1) The Czech National Bank shall inform the Guarantee Scheme by 31 May of each year of the amount of the annual contribution fixed by the Bank or branch of the Bank from a non-Member State.

(2) The guarantee system shall, by 10 June each year, notify in a manner enabling remote access whether and what part of the contribution may take the form of an irrevocable payment commitment in that year so that the proportion of irrevocable payment commitments does not exceed 30% of the amount of funds in the Fund; in that determination, take into account the general instructions of the European Banking Authority governing payment commitments. The notification shall specify the details of the application of the payment commitment and in particular the conditions for risk, liquidity and diversification of the collateral provided; the conditions may be determined differently depending on the amount of the annual contribution.

(3) The guarantee scheme may only accept a payment commitment if it is secured by a low-risk asset with non-encumbered rights of third parties and if it obtains the right to dispose of that asset freely. A low-risk asset is a debt security that would receive a risk weight of up to 50% of 33 under the Standardised Approach for Credit Risk under Article 336 of Regulation (EU) No 575 / 2013 of the European Parliament and of the Council.

(4) A bank or branch of a bank other than a Member State shall pay the fixed annual contribution by 30 June of the relevant calendar year. The submission of decomposition against a decision under Paragraph 41ca (2) determining the amount of the annual contribution of a bank or a branch of a bank from a non-Member State shall not have suspensory effect.

§ 41cc

(1) If the Fund's funds are insufficient to pay the legal compensation, the guarantee system will inform the Czech National Bank without undue delay and will inform it of the expected amount of the missing funds.

2. 2. The rate of the exceptional contribution shall be such that the total amount of the specified exceptional contribution does not exceed 0,5% of the volume of covered deposit claims in the calendar year. In exceptional circumstances, the Czech National Bank may also set a higher rate of exceptional contribution. The Czech National Bank shall publish the rate of the exceptional contribution in a way that allows remote access.

(3) The procedure referred to in paragraph 2 may be initiated by a decision. The submission of decomposition against a decision fixing the amount of the exceptional contribution to a bank and a branch of a bank other than a Member State shall not have suspensory effect.

(4) The Czech National Bank informs the Guarantee System without undue delay of the amount of the exceptional contribution provided for by the Bank and the branch of the Bank from a non-Member State.

(5) A bank and a branch of a bank other than a Member State will pay an exceptional contribution within 3 working days of the date of receipt of the decision on the amount of the exceptional contribution. The exceptional contribution may not take the form of a payment commitment.

(6) The Czech National Bank may temporarily reduce the amount of the exceptional contribution or suspend the obligation of a bank or branch of a bank other than a Member State to pay an exceptional contribution if payment would jeopardise the bank's liquidity or solvency, including repeatedly for up to 6 months. The part of the exceptional contribution which has not been paid properly and on time as a result of such a reduction or suspension shall become due at the end of that period. The Czech National Bank shall inform the Guarantee System of this Decision without undue delay.

§ 41cd

The guarantee system shall inform the Czech National Bank without undue delay whether and to what extent the bank and branch of the bank from outside the Member State have paid the contribution. If the bank or branch of the bank is late in paying the contribution, it shall pay interest on the amount due on the late payment provided for in the Civil Code. Payment of the contribution and interest on late payments shall be enforced by the Guarantee System.

§ 41ce

The contribution is fixed and payable in Czech currency.

33) Article 336 (1) Table 1 of Regulation (EU) No 575 / 2013 of the European Parliament and of the Council. ';

64.Paragraph 41d (1) reads as follows:

"(1) Compensation for the insured claim shall be granted to the beneficiary of the Fund after:

(a) The guarantee system has received a written notification from the Czech National Bank of the inability of a bank or branch of a bank from a Member State other than a Member State to meet its obligations to beneficiaries under statutory and contractual conditions; The Czech National Bank shall issue such notification without undue delay, no later than 5 working days after the date on which it found that a bank or branch of a bank from a non-Member State does not pay the deposits due, it does not, in the opinion of the Czech National Bank, appear at the time of the notification that the bank or branch of the bank from a non-Member State is able, for reasons directly related to its financial situation, to fulfil its obligations towards the beneficiaries and has no prospect of being able to do so; or

(b) a court or a foreign court has given a decision on bankruptcy or any other decision on grounds directly related to the financial situation of a bank or branch of a bank from a Member State other than the Member State in which the suspension of the right of depositors to dispose of deposits covered by insurance is due. "

65. In Paragraph 41d, the following paragraphs 2 and 3 are inserted after paragraph 1:

"(2) The date on which the Czech National Bank issued the notification referred to in paragraph 1 (a), or when the court or foreign court issued the decision referred to in paragraph 1 (b), shall be deemed to be the relevant date.

(3) The Czech National Bank shall publish, in a way that allows remote access, information on when the operative date referred to in paragraph 2 occurred. The notification referred to in paragraph 1 (a) and the information that a decision has been taken pursuant to paragraph 1 (a). (b) The Czech National Bank shall communicate without delay to the Bank or branch of the Bank from a Member State other than the Guarantee System. "

Paragraphs 2 to 5 shall be renumbered paragraphs 4 to 7.

(66) In Paragraph 41d (4), the words "or former bank," shall be replaced by the words "former bank, branch of a bank other than a Member State, former branch of a bank other than a Member State," and "Fund" shall be replaced by the words "Guarantee system."

67.In Article 41d (4), "8" is replaced by "3."

68. In Paragraph 41d, at the end of paragraph 4, the words "and the deposit information referred to in Paragraph 41r (2) shall be added; this shall not apply if the case is referred to in paragraph 5 '.

69. In Paragraph 41d, the following paragraph 5 is inserted after paragraph 4:

"(5) The bank, the former bank, the branch of a bank other than a Member State, the former branch of a bank other than a Member State and the liquidator, the trustee or the insolvency administrator shall, within 10 working days of the relevant date, provide the guarantee system with the data held pursuant to § 41c (3) and the deposit information referred to in § 41r (2), which shall be provided to the bank, the former bank branch of a bank other than a Member State, and to the liquidator, administrator or insolvency administrator under § 41f (7) and 8."

Paragraphs 5 to 7 shall be renumbered paragraphs 6 to 8.

70. in Paragraph 41d (6) first sentence, the number "12" is replaced by "6."

71. in the first sentence of Article 41d (6), the word "Fund" shall be replaced by the words "Guarantee system," the words "pursuant to Paragraph 41e (2)" shall be inserted after the word "Is" and the words "together with the call under Paragraph 41e (4)" shall be inserted.

72. in Paragraph 41d (6), the second sentence shall be replaced by the sentence "The starting date for the payment of refunds referred to in Article 41e (2) shall be determined by the Guarantee System in such a way as to take place no later than 7 working days from the relevant date."

73.In Paragraph 41d (6), the last sentence shall be replaced by "This shall not apply if it is for refunds under paragraph 7."

74. In Paragraph 41d, the following paragraph 7 is inserted after paragraph 6:

"(7) The guarantee system shall determine the starting date, place and method of payment of the compensation referred to in Article 41e (2), which shall be provided to the persons referred to in Article 41f (7) and (8), by appropriate means, publish them and inform the Ministry of Finance and the Czech National Bank accordingly. The starting date for the payment of refunds shall be determined by the Guarantee System in such a way that it is no later than 15 working days from the relevant date. ';

Paragraphs 7 and 8 shall be renumbered paragraphs 8 and 9.

75. in Article 41d (8), "2" is replaced by "4 and 5" and "Fund" is replaced by "Guarantee system."

76. in Paragraph 41d, paragraph 9 is deleted;

77.§ 41e reads:

„§ 41e

(1) For the calculation of the refund, all insured claims on the deposits of the authorised person shall be added to the bank or branch of the bank from a Member State other than the Member State, including its shares in accounts held for 2 or more co-owners, as at the relevant date. Unless otherwise evidenced by a bank or branch of a bank other than a Member State, the shares of the co-holders shall be deemed to be the same. The bank or branch of the bank from a non-Member State shall indicate a different amount of the holding in its register. No account shall be taken of any other amount of interest after the relevant date. The calculation of the refund shall be made in the currency of the State in which the account is located; for deposit claims denominated in a currency other than that of the State in which the account is located, the conversion into the currency of the State in which the account is located shall be carried out according to the rate declared by the Czech National Bank for the relevant date. The interest calculated on the relevant date shall also be part of the insured deposit claim. The refund shall be paid in the currency of the State in which the account is located. The right of the beneficiary to benefit from the Fund shall be the right attached to the claim.

(2) The compensation to the beneficiary shall be at the rate calculated in accordance with paragraph 1 but not exceeding EUR 100 000 per beneficiary with one bank. This shall be without prejudice to the provisions of paragraph 3. The limit equivalent in the currency of the country in which the account is located shall be converted according to the rate declared by the Czech National Bank for the relevant day.

(3) Where the beneficiary who is a natural person demonstrates, in accordance with § 41ea, that he fulfils the conditions for payment of the increased compensation for the insured contribution and applies for it under § 41eb (1), the guarantee scheme shall provide the beneficiary with an increased compensation for that part of the deposit claim for which he has demonstrated that the conditions laid down in § 41ea have been met up to the amount calculated in accordance with paragraph 1 in excess of the amount laid down in paragraph 2, but not more than EUR 100 000 per beneficiary for one beneficiary for one bank (hereinafter referred to as "increased compensation '). The equivalent of this limit in the currency of the country in which the account is located shall be converted according to the rate declared by the Czech National Bank for the relevant day.

(4) By means of a call published in a way that allows remote access, the Guarantee System shall invite authorised natural persons to provide evidence to the Guarantee System within 2 months of the relevant date of the documents referred to in Article 41eb (1) for the purpose of assessing the entitlement to an increased refund for the deposit claim referred to in Article 41e (3).

(5) Compensation for insured claims on deposits pursuant to § 41f (7) and (8) is granted only after all other covered claims on deposits of the beneficiary have been fully replaced, according to the ratio of the amount of individual deposit claims pursuant to § 41f (7) and (8).

(6) An increase in the compensation referred to in paragraph 3 shall not be granted for the deposit claims referred to in Article 41f; This does not apply if the deposit claim is the amount transferred to notarial safekeeping under the notarial order or if the money received by a lawyer to the administration under the Law on Advocacy.

(7) Where the insured person has a claim on the deposit with the bank and the branch of the same bank in accordance with Paragraph 5c (1) in another Member State, the individual claims on the deposit for the purposes of calculating the refund referred to in paragraph 2 shall be accounted for according to the ratio of the amount of the deposit claims relating to the bank and the branch of the same bank in another Member State. ';

78. The following Sections 41ea and 41eb are inserted after § 41e:

„§ 41ea

(1) Entitlement to an increased refund pursuant to Article 41e (3) shall be incurred, upon fulfilment of the conditions laid down in Article 41e (3) and Article 41eb (1), where the relevant date occurred within 3 months of the date on which the amount was credited to the account and at the same time the amount is:

(a) payment of the purchase price resulting from the sale of a real estate item which is used for housing according to the register of real estate, provided that such sale has been supported by a proposal to open a deposit procedure in the register of real estate, including the annexes, and the proposal was submitted before the relevant date;

(b) the settlement of the joint assets of the spouses in the divorce of the marriage, provided that they have been evidenced by a final judgment on the divorce of the marriage involving the settlement of the joint assets of the spouses or other assets, or by the final judgment on the settlement of the spouses after the divorce of the parties to their joint assets,

(c) insurance premiums in the event of accident, illness, invalidity or death, where they have been substantiated by an insurance undertaking's statement of payment of insurance premiums;

(d) inheritance, where its acquisition has been substantiated by a final decision of the court of succession,

(e) payment of one-off compensation from the supplementary pension scheme with a State contribution or supplementary pension savings, provided that it has been supported by a confirmation from the pension company of the payment of the one-off compensation;

(f) severance grants paid on termination of service, in which the staff member is entitled to compensation under the Labour Code, severance payments on termination of employment by agreement, in which the staff member is entitled to compensation under the Labour Code, in which the staff member is entitled to compensation or severance payments, and severance payments on termination of service of natural persons performing a service in which the natural persons carrying out a service in the Security Service are entitled to severance payment, provided that he has been supported by the employer's confirmation for the purpose of assessing unemployment benefit and the payment of wages;

(g) insurance claims in the event of damage caused by a criminal offence, where it has been substantiated by a final judgment of the court on the offence committed and a statement of payment of the insurance claims;

(h) the payment of compensation for damage caused by a criminal offence or the issue of unjustified enrichment obtained by a criminal offence, provided that it has been substantiated by a final judgment of the Court of First Instance on the award of compensation for damage caused by a criminal offence or on the entitlement to the issue of unjustified enrichment;

(i) the payment of compensation for damage caused by a decision on detention, punishment or protection measure, provided that it has been substantiated by a final judgment of the court, by a decision of the Ministry or by another central administrative office to grant compensation for damage caused by a decision on detention, punishment or protection measure; or

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Regulation Information

Citation	Act No. 375 / 2015 Coll., amending certain laws in connection with the adoption of the Law on Recovery and Resolution in the Financial Market and in connection with the modification of the Deposit Guarantee Scheme
Regulation Type	Law
Author	-
Collection	Code of Laws

Date of Promulgation	28.12.2015
Effective from	01.01.2016
Effective until	-
Status	Valid

Legal Areas: Banking, Money Securities Finance Commercial law Businessman, Company

The regulation text is for informational purposes only.