Decree No. 42 / 2023 Coll.
Decree amending Decree No. 278 / 1998 Coll., implementing 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, Act No. 60 / 1998 Coll., as amended
Valid
Effective from 25.02.2023
42
DECLARATION
of 15 February 2023
amending Decree No. 278 / 1998 Coll., implementing 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 by Act No. 60 / 1998 Coll., as amended
The Ministry of Finance provides pursuant to Article 6 (6) of Act No. 58 / 1995 Coll., on Insurance and Financing of Exports with State Aid, as amended by Act No. 323 / 2022 Coll.:
Decree No. 278 / 1998 Coll., implementing 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, Act No. 60 / 1998 Coll., as amended by Decree No. 88 / 2000 Coll., Decree No. 355 / 2001 Coll., Decree No. 29 / 2003 Coll., Decree No. 407 / 2006 Coll., Decree No. 62 / 2010 Coll., Decree No. 116 / 2015 Coll. and Decree No. 216 / 2016 Coll., are amended as follows:
1. In the title of the Order, the text "No 58 / 1995 Coll.," and the words "and the addition of Act No. 166 / 1993 Coll., on the Supreme Audit Office, as amended, as amended, as amended, as amended, and Act No. 60 / 1998 Coll.," shall be deleted.
2. Article 7, including the title, reads:
Requirement to include funds to cover losses
(1) The requirement to include the funds earmarked for the subsidy to cover the losses resulting from the operation of the long-term supported financing (hereinafter referred to as the "loss subsidy") will be applied by the Export Bank to the Ministry of Finance in drawing up the State Budget for the relevant financial year.
(2) The request referred to in paragraph 1 shall be made by the exporting bank by the end of February of each year on the basis of a qualified estimate of the amount of the loss compensation grant pursuant to Article 6 (4) of the Act; and
(a) an overview of the state of the liabilities arising from contracts for the acquisition of long-term financial resources concluded on the date of submission of the application for a grant of loss compensation pursuant to Article 6 (4) of the Act;
(b) an overview of the estimated amount of long-term financial resources in the financial year due;
(c) an analysis of the estimated need to obtain new financial resources in connection with their use on 31 December of the financial year in question;
(d) the supporting documents and documents on the basis of which this request has been processed.
(3) The request referred to in paragraph 1 shall be accompanied by a qualified estimate to the Ministry of Finance of the State Budget subsidy requirement for the next two years following the current financial year. This qualified estimate of the export bank requirement shall demonstrate the medium-term outlook of the following items:
(a) net interest income;
(b) net revenue from fees and commissions;
(c) profit or loss on financial activities;
(d) administrative costs and depreciation,
(e) other operating income and costs;
(f) reserves and adjustments. ";
3. The following Sections 7a and 7b are inserted after Section 7, including the headings:
Application for a loss payment grant
(1) The request for payment of the loss subsidy pursuant to Article 6 (4) of the Act is submitted by the Export Bank on the basis of the audited results of the management and quantification of the entitlement to the subsidy at 31 December of the year concerned, at the latest by 15 April of the following year.
(2) The request for a subsidy to cover losses is not submitted by the exporting bank unless a loss is recognised under Paragraph 6 (4) of the Act.
(3) The request to grant a grant to cover losses includes:
(a) the amount of the grant required to cover losses for the previous financial year;
(b) information on the state guarantee status,
(c) an overview of commercial cases organised by type of trade and, in the case of commercial cases, type of credit transactions broken down by asset assessment rules issued by the Czech National Bank on the basis of the Bank Act, which contains the following information on each agreed business case within the framework of long-term supported financing:
1. the contract number or business case,
2. the identification of the Contracting Parties for each commercial case which is the name, registered office and identification number of the person, if assigned;
3. Indication whether the Contracting Party is, for example, an exporter, an export supplier, an importer, a guarantor or a guarantor,
4. type of transaction;
5. the amount of the transaction, expressed in the currency in which the transaction was concluded and in the crowns of the Czech Republic;
6. the amount of the credit framework and commitment,
7. the manner in which the contract is drawn up;
8. the method and value of the collateral;
9. the amount of the claim without an adjustment and the amount of the adjustment, provisions, depreciation costs for the claim; and
10. information on the modification of financial assets under IFRS 9 (International Financial Reporting Standards); and
(d) information on activities under the securities and book-entry programmes over the period.
(4) The application for a grant of loss compensation pursuant to Article 6 (4) of the Act shall be accompanied, in electronic form, by an electronic data medium:
(a) the main book of accounts, to the extent of the data and information to be provided for the supported financing, with a subsidy entitlement in detail, concluded on the last day of the period to which the application relates;
(b) all data and information on the basis of which the export bank has calculated the subsidy for the loss of the supported financing, in a structured spreadsheet form,
(c) the statutory auditor's report on the verification of the financial statements of the year to which the subsidy application relates; and
(d) all data and information on the basis of which the export bank has been calculated 100 basis points pursuant to Article 6 (2) of the Act, in tabular form.
Checks on the correctness of the amount of the loss compensation subsidy and the method of granting
(1) The Ministry of Finance will provide a quantification of the amount of the loss compensation subsidy on the basis of the outcome of the correctness check. The Ministry of Finance shall initiate the verification of the accuracy of the quantification of the amount of the loss payment under Section 6 (4) of the Act without delay after the application has been submitted.
(2) The Ministry of Finance will send the relevant amount of the grant to the Export Bank to the account of the subordinate Treasury held by the Czech National Bank under the Budget Rules Act. "
Efficacy
This decree shall take effect on the day following that of its publication.
Minister of Finance:
Ing. Stanjura v. r.
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Regulation Information
| Citation | Decree No. 42 / 2023 Coll., amending Decree No. 278 / 1998 Coll., implementing 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, Act No. 60 / 1998 Coll., as amended |
|---|---|
| Regulation Type | - |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 24.02.2023 |
|---|---|
| Effective from | 25.02.2023 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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