Decree No. 376 / 2009 Coll.
Exchange Order
Valid
Order
Effective from 04.11.2009
Text versions:
04.11.2009
376
DECLARATION
of 23 October 2009
on exchange activities
Pursuant to § 30a (a) to (c) of Act No. 219 / 1995 Coll., the Foreign Exchange Act, as amended by Act No. 254 / 2008 Coll. and Act No. 285 / 2009 Coll., ("the Act '):
Subject matter
This decree provides
(a) the models of the registration forms for the exchange activity and the content of their annexes;
(b) the way in which customers of foreign exchange points entitled to exchange activities are informed;
(c) the scope, period, manner, time limits and structure of the data reported for the quantities of cash purchased and sold foreign currencies.
Definition of terms
For the purposes of this decree:
(a) a full extract or other document, from a business register or other register under another legislation (1), or from similar records abroad, containing the information in force at the time of the application, including information on the application for registration in the relevant register which was not made at the date of the application;
(b) proof of integrity, a document similar to an extract from the Register of Penalties not earlier than 3 months old, issued by a foreign State of which a natural person is a citizen and by a foreign State in which a natural person has remained continuously for more than 6 months in the last 3 years.
Application by a natural person to register for exchange activities
(1) The registrant for the exchange activity, if he is a natural person, submits an application on a form the model of which is set out in Annex 1 to this Decree.
(2) The application referred to in paragraph 1 shall be accompanied by the following annexes:
(a) the original of the proof of integrity of the applicant, the beneficial owner (2) and the person who will manage the applicant's business;
(b) documents demonstrating that the person who will manage the applicant's business has obtained appropriate training under Section 3d (2) of the Act;
(c) the declaration referred to in Annex 2 to this decree as the applicant, the beneficial owner (2) and the person who will manage the applicant's business.
Application by a legal person to register for exchange activities
(1) The registrant for the exchange activity, if he is a legal person, shall submit an application on a form, the model of which is set out in Annex 3 to this Decree.
(2) The application referred to in paragraph 1 shall be accompanied by the following annexes:
(a) proof of a business authorisation;
(b) the original of the document on the integrity of the person who is a member of the applicant, the statutory body of the applicant, the member of the statutory body of the applicant, the beneficial owner of the m2) and the person who will manage the applicant's business and, if the member of the applicant's business is a legal person, that document as a member of the statutory authority of the applicant's member of the statutory authority;
(c) documents demonstrating that the person who will manage the applicant's business has received appropriate training under Section 3d (2) of the Act;
(d) the declaration referred to in Annex 2 to this Order as a member of the applicant, the statutory authority of the applicant, the member of the statutory authority of the applicant, the beneficial owner (2) and the person who will manage the applicant's business and, if the member of the applicant is a legal person, that declaration shall also be the statutory authority of the applicant's member or member of the statutory authority of the applicant's member;
(e) the questionnaire provided for in Annex 4 to this order.
Information to clients of foreign exchange points
(1) The foreign exchange office entitled to carry out the exchange-rate activity publishes the exchange-rate note, the prices of the services provided, an overview of the services provided free of charge, if it provides such services, and information on the right of the client to issue a service document with data under the Consumer Protection Act (3) and on the obligation to comply with the foreign-exchange point of this request, in one place together, at least in Czech and English. This information shall be visibly published on a site accessible to clients and in a way that excludes any substitution of the information provided and allows the client to obtain this information before providing the service.
(2) The price charged for the service may also be indicated as a percentage of the volume of purchase or sale, where appropriate, with the lowest and highest price charged, depending on the quantity sold or purchased, or the lowest price charged, irrespective of the unit quantity.
(3) The exchange rate courses, including currency names, and the prices of each service together with the accompanying text are expressed in uniform and appropriate size, the figures being expressed in Arabic numerals. The accompanying text for courses and individual services shall be given at least in the Czech and English languages.
(4) When communicating the exchange rate information on selected currencies in the form of a foreign exchange locality which is entitled to carry out the exchange rate activity, it shall distinguish between the purchase or selling rate. In the event that this foreign exchange point provides the purchase and sale of the foreign currency, it shall always indicate the purchase and sale rate of the currency on the exchange sheet together. In this way of communicating the information, the foreign exchange place which is entitled to carry out the exchange activity shall ensure that the client is not misled, in particular indicating the names of the currencies, rates and prices of each service on the chosen tour as referred to in paragraph 3.
(5) The foreign exchange office entitled to carry out the exchange activity shall communicate to the client, in an appropriate manner before the final purchase or sale of the foreign or Czech currency, the information relating to the amount of the consideration of the currency purchased or sold.
Compliance with the reporting obligation of the marketing authorisation holder
(1) The holder of the exchange registration (hereinafter referred to as "the holder of the registration") reports to the Czech National Bank, once per calendar quarter, aggregated data on the amount of foreign currencies in cash purchased and sold as part of the registered activity in that calendar quarter for all establishments. This information shall be reported by the holder of the marketing authorisation using the form set out in Annex 5 to this Regulation.
(2) The marketing authorisation holder shall send the completed form referred to in paragraph 1 to the Czech National Bank no later than 15 days after the end of the reported calendar quarter even if he has not made any purchases or sales of foreign currency in that quarter. The form is sent by the holder of the registration to the Czech National Bank
(a) in paper form, signed by the person authorised to act on behalf of the marketing authorisation holder; or
(b) in electronic form, provided with a guaranteed electronic signature (4) of the person responsible for transmitting the messages.
(3) If the holder of the registration finds an error in the form he completed and sent, he shall inform the Czech National Bank without undue delay.
(4) If the holder of the registration is invited by the Czech National Bank to correct the information contained in the form sent to the Czech National Bank pursuant to paragraph 2, he shall make the correction and submit the corrected form to the Czech National Bank without undue delay, but no later than 15 days after the date of receipt of the invitation from the Czech National Bank.
Common provisions
(1) The Czech National Bank also publishes the models of the forms provided for in this Decree in a way that allows remote access.
(2) Where an application is submitted by an applicant through a representative, the application shall be accompanied by a power of attorney or other instrument proving that the applicant is authorised to represent the applicant. The authenticity of the signature of the applicant in the mandate or other instrument shall be officially verified.
(3) A copy of the original document may be submitted instead of the original.
(4) Where the nature of the case precludes the submission of an annex to the application required by this Order or the indication of the information on the form and where the grounds are not apparent, the applicant shall justify not to submit an annex or the non-submission of the information on the form on a separate sheet for the application and shall provide adequate evidence of the reasons.
(5
(a) a Member State of the European Union or any other Contracting State of the Agreement on the European Economic Area; or
(b) a foreign State with which the Czech National Bank has a cooperation agreement; the list of these authorities shall be published by the Czech National Bank in a way that allows remote access.
Transitional provision
A foreign exchange place authorised to carry out exchange activities on the date of application of this Decree shall be required to bring the manner in which clients are informed in accordance with that decree within 4 months of the date of entry into force of that decree. Until such time as the foreign exchange point registered under the law brings clients into compliance with this decree, this foreign exchange point shall proceed in accordance with the existing legislation (5).
Repeal
Decree No. 280 / 2008 Coll., on exchange activities, non-cash transactions in foreign currency and on monetary services, is repealed.
Efficacy
This decree shall take effect on the day of its publication.
Governor:
Doc. Ing. Tůma, CSc.
Příloha č. 1
Annex No 1 to Decree No. 376 / 2009 Coll.
Application for registration for exchange activities (natural person)
Příloha č. 2
Annex No. 2 to Decree No. 376 / 2009 Coll.
Declaration on information relating to the demonstration of integrity
Příloha č. 3
Annex No. 3 to Decree No. 376 / 2009 Coll.
Application for registration for exchange activities (legal person)
Příloha č. 4
Annex No 4 to Decree No. 376 / 2009 Coll.
QUESTION TO THE MARKETING AUTHORISATION APPLICATION
Příloha č. 5
Annex No 5 to Decree No. 376 / 2009 Coll.
PURCHASE AND SALE OF A Foreign Currency
1) For example, Act No. 513 / 1991 Coll., Commercial Code, as amended, Act No. 455 / 1991 Coll., on Business Enterprise (Trade Act), as amended, Act No. 15 / 1998 Coll., on Capital Market Supervision and Amendment and Addition of Other Acts, Act No. 85 / 1996 Coll., on Advocacy, as amended, Act No. 252 / 1997 Coll., on Agriculture, as amended, Act No. 83 / 1990 Coll., on the Association of Citizens, as amended, Act No. 227 / 1997 Coll., on Foundation and on the Amendment and Addition of Certain Related Acts (Act on Foundation and Foundation Funds), as amended.
2) Paragraph 3 (4) of Act No. 219 / 1995 Coll., as amended by Act No. 254 / 2008 Coll.
3) Paragraph 16 (1) of Act No. 634 / 1992 Coll., on Consumer Protection, as amended by Act No. 229 / 2006 Coll., Act No. 36 / 2008 Coll. and Act No. 227 / 2009 Coll.
4) § 2 (b) of Act No. 227 / 2000 Coll., Act on Electronic Signature, as amended by Act No. 440 / 2004 Coll.
5) § 3 of Decree No. 280 / 2008 Coll., on Currency Exchange Activities, Non-Cash Transactions in Foreign Currency and on Cash Services.
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Regulation Information
| Citation | Decree No. 376 / 2009 Coll., on Currency Exchange Activities |
|---|---|
| Regulation Type | Order |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 04.11.2009 |
|---|---|
| Effective from | 04.11.2009 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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