Act No. 406 / 2001 Coll.
Act amending Act No. 87 / 1995 Coll., on savings and credit cooperatives and certain measures related thereto and supplementing Act No. 586 / 1992 Coll., on Income Taxes, as amended, as amended, as amended by Act No. 100 / 2000 Coll.
Valid
Law
Effective from 01.12.2001
Text versions:
01.12.2001
20.11.2001
406
THE LAW
of 24 October 2001
amending Act No. 87 / 1995 Coll., on savings and credit cooperatives and certain measures related thereto and supplementing Act No. 586 / 1992 Coll., on Income Taxes, as amended, as amended, as amended by Act No. 100 / 2000 Coll.
Parliament has decided on this law of the Czech Republic:
Act No. 87 / 1995 Coll., on savings and credit cooperatives and certain measures related thereto and on supplementing the Act of the Czech National Council No. 586 / 1992 Coll., on Income Tax, as amended, as amended by Act No. 100 / 2000 Coll., is amended as follows:
1. In Article 5a, the following paragraph 4 is added:
"(4) The insolvency administrator shall, at the request of the Office, convene a member meeting within 30 days of its receipt solely for the purpose of approving the decision to cover the loss of payment obligations of the members. The provisions of the Statutes, special legislation1) and § 5a (2) shall apply mutatis mutandis to the appointment of a member meeting by the trustee. The costs of calling and holding a meeting shall be those of maintaining and managing the substance under a special law. (a)
(5a) Act No. 328 / 1991 Coll., on bankruptcy and settlement, as amended. '
2. Paragraph 14 (5) reads:
"(5) The Fund may be used only for compensation of beneficiaries, which are only members of cooperative advances and other persons on whom the law provides, hereinafter referred to as the" beneficiary, "provided under the conditions laid down by that law, for the costs related thereto and for the repayment of loans."
3. In Article 16 (1), the words "or other currency 'shall be inserted after the words" in Czech crowns'.
4. In Article 16, the following paragraph 3 is added:
"(3) An insurer shall also be considered as a deposit whose payment is entitled under Paragraph 4 (6) (b) and which has not been satisfied due to the failure of the cooperative to comply with the obligations under legal and contractual conditions. The persons referred to in Paragraph 4 (6) shall be entitled, subject to the conditions set out in Article 17 (1), to pay compensation for the insured deposit or for the share of the insured deposit. '
5. Paragraph 17 (1) reads as follows:
"(1) Compensation for the insured deposit (hereinafter referred to as" compensation ") shall be granted to the beneficiary of the Fund in the event that the Fund receives a written notification to the Office of the failure of the cooperative reserve to comply with its obligations towards the beneficiary under legal and contractual conditions. The right to reimbursement shall not arise before a cooperative reserve which is unable to meet its obligations has demonstrated to the Office that its members have been involved in covering the loss that has been established by the financial statements made in connection with the failure of the cooperative reserve to comply with its obligations, not more than 3 months of age, in the amount of the liability under the Statutes. The claim for compensation for the insured deposit in another currency arises in Czech crowns."
6. In Paragraph 18 (1), the word "member 'is replaced by the words" authorised person', the word "his' is replaced by the word" its', the word "depositor 'is deleted, the words" authorised person' are inserted after the words "payable commitments', and the words" in Czech crowns' are inserted after the words "or another currency '. The following sentences shall be added at the end of the paragraph:" The calculation shall be made in Czech currency on the date on which payments are started. The conversion into the Czech currency shall be carried out according to the foreign exchange rate declared by the Czech National Bank on the date preceding the start of payments by 7 working days. The refund shall be paid in Czech currency.'.
7. In Paragraph 18 (2), the word "depositor 'is replaced by" authorised person' and the words "one depositor 'are replaced by" one authorised person'.
8. In Article 18, paragraphs 3 and 4 are added:
"(3) In order to calculate the compensation for the insured deposit or for the share of the insured deposit referred to in Article 16 (3), the proportion of the entitlement of the beneficiary to the payment of the funds referred to in Article 4 (6) (b) shall be multiplied by the total amount of all claims of all beneficiaries to the payment of the funds referred to in Article 4 (6) (b) relating to the person who has ceased membership for the duration of the cooperative advance, hereinafter referred to as" total entitlement ', after deduction of the payment obligation laid down in Article 17 (1) calculated in accordance with Article 18 (2). This is without prejudice to the provisions of Paragraph 18 (1) and (2).
(4) For the purposes of the payment of compensation for the insured contribution acquired by the beneficiary under the inheritance, such compensation calculated in accordance with Paragraph 18 (3) shall be assessed separately from any other compensation granted to the beneficiary. ';
9. In Paragraph 19 (2), the word "depositors' is replaced by" authorised persons'.
10. In Paragraph 20 (1), the word "depositor 'is replaced by" authorised persons' and the word "his' is replaced by" hers'.
11. in Article 20 (2), the word "depositors" shall be replaced by "authorised persons."
12. in Article 20 (3), the words "depositors" shall be replaced by "authorised persons," the words "depositors" shall be replaced by "Authorised persons" and the words "depositors" shall be replaced by "Authorised persons."
Transitional and final provisions
If the conditions laid down by this Act for the entitlement to compensation for the insured deposit have been fulfilled before the application of this Act and the right to compensation for the insured deposit has not been established, legal relationships thus established under this Act shall be assessed. This is without prejudice to the provisions of Paragraph 18 (1) and (2). The claim of the beneficiary against the cooperative advance payment in accordance with this Act shall be reduced, if not before the application of this Act, by an amount equal to its right to compensation from the Fund on the date of its effectiveness. On that date, the Fund shall become a creditor of the cooperative reserve equal to the rights of beneficiaries of the Fund. In the case of a refund for an insured deposit made in a currency other than the Czech currency under this Act, the conversion into the Czech currency shall be carried out according to the foreign exchange rate declared by the Czech National Bank on the date preceding the effectiveness of the Act by 7 working days.
Efficacy
This Act shall take effect on the first day of the following month following its publication.
Klaus v. r.
Havel v. r.
Zeman v. r.
Sign in for notes, favorites and notifications
Regulation Information
| Citation | Act No. 406 / 2001 Coll., amending Act No. 87 / 1995 Coll., on savings and credit cooperatives and certain measures related thereto and supplementing Act No. 586 / 1992 Coll., on Income Taxes, as amended, as amended by Act No. 100 / 2000 Coll. |
|---|---|
| Regulation Type | Law |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 20.11.2001 |
|---|---|
| Effective from | 01.12.2001 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
Comments 0