Government Decree No. 432 / 2021 Coll.
Government Regulation amending Government Regulation No 243 / 2013 Coll., on investment of investment funds and on techniques for their management, as amended
Valid
Regulation
Effective from 01.01.2022
Text versions:
01.01.2022
30.11.2021
432
GOVERNMENT REGULATION
of 12 November 2021
amending Government Regulation No 243 / 2013 Coll., on investment funds and techniques for their management, as amended
The Government orders pursuant to § 215 paragraph 2 and § 284 paragraph 2 of Act No. 240 / 2013 Coll., on Investment Companies and Investment Funds, as amended by Act No. 336 / 2014 Coll., Act No. 148 / 2016 Coll., Act No. 204 / 2017 Coll. and Act No. 119 / 2020 Coll.:
Government Regulation No. 243 / 2013 Coll., on Investment Funds and on Techniques for their Management, as amended by Government Regulation No. 11 / 2014 Coll., Government Regulation No. 133 / 2017 Coll. and Government Regulation No. 97 / 2018 Coll., is amended as follows:
1. In Article 17 (1) (a), (2) (a), (b) and (c), Article 17 (5), Article 20 (1), (3) and (4), Article 21 (1) and (2), Article 22 (1) (a) and (b), Article 23, Article 24 (1) of the Introductory Part of the Provisions, Sections 25 (1) and (2), Article 26 (1) (b), Article 31 (2) (a) and (b) shall be replaced by the words "net values of the assets";
2. In Article 20 (4), the words "in the key information document concerning this standard fund 'are deleted.
3. In Articles 21 (3) and 64, the words "value of fund capital 'are replaced by" net asset values'.
4. Paragraph 26 (2) and (3) are deleted.
Paragraphs 4 and 5 shall be renumbered paragraphs 2 and 3.
5. in Paragraph 26 (2), the words "Paragraphs 1 to 3 'are replaced by the words" Paragraph 1';
6. Paragraph 26 (3) is deleted.
7. In Article 32 (2), the words "or Article 84 (1) (b) 'are deleted.
8. in Article 47 (3), the following point (b) is inserted after point (a):
"(b) if this fund of qualified investors or a comparable foreign investment fund can, in accordance with its Statute or a comparable document, grant loans and loans only under the conditions set out in paragraphs 1 and 2 of Paragraph 74;"
Points (b) and (c) shall be renumbered (c) and (d).
9. In Paragraph 57 (1) (c), the words "and that" shall be inserted after the word "real estate."
10. in Paragraph 57 (1), point (e) is deleted;
Points (f) to (l) shall be renumbered as points (e) to (k).
11. in Paragraph 57 (1), the words "nor is it affected by the possibility for a real estate company to bear the costs associated with the management of its assets" shall be added at the end of the text in point (e).
12. in Article 57 (1) (i) (2), the words "certified auditor" shall be deleted;
13. in Paragraph 57 (2) (a), the words "certified by the auditor" shall be deleted;
14. in Paragraph 57 (2) (b), the word "current" shall be deleted and the words "certified by the auditor" shall be replaced by the words "as at the date of completion of the accounts."
15. in Paragraph 58 (1) of the introductory part of the provision, the text "(g)" is replaced by "(f)."
16. in Paragraph 58 (1) (a), "(f) and (h) to (l)" shall be replaced by "(e) and (g) to (k)";
17. in Paragraph 58 (5), "(f) and (l)" shall be replaced by "and (k)";
18. In Article 58, the following paragraph 6 is added:
"(6) The conditions set out in Paragraph 57 (2) need not be met where the real estate fund is the sole founder of a real estate company in the performance of the deposit obligation by a cash deposit before the registration of that real estate company in the Commercial Register; This applies even if the sole founder is a property fund manager without a legal personality acting on behalf of that real estate fund. '
19. in Paragraph 63 (2), the words "the value of their assets" are replaced by the words "the net value of their assets."
20. In the heading of Section 64, the words "capital of the fund 'are replaced by the words" net asset value'.
21. In Paragraph 65 (1) of the introductory part of the provision, the words "and the risk of the counterparty arising from the management techniques of the special fund" shall be inserted after the words "these derivatives."
22. Paragraph 68 (2) is deleted.
Paragraphs 3 to 6 shall become paragraphs 2 to 5.
23. in Article 68 (2) and (3):
"(2) The value of real estate may exceed the limit laid down in paragraph 1 by more than 10% after its acquisition into the assets of the real estate fund for a maximum period of 3 years from the date on which that overrun first took place.
(3) The real estate fund may not comply with the investment limits for the period laid down in the Statute but for a maximum period of 3 years from the date of its establishment, except for the limit laid down in paragraph 1, which may be increased to 60% during that period. "
24. In Paragraph 70, the words "which is not a real estate fund 'shall be added at the end of paragraph 3.
25. in Paragraph 70 (4), "20%" is replaced by "10%."
26. in Paragraph 71 (2):
"(2) A loan or loan with a maturity of more than 6 months may be accepted on behalf of a special fund only for the purpose of investing the fund. ';
27. in Articles 72 (1), (2) and (3), 73 (1) and 74 (4), "the value of his assets" shall be replaced by "the net value of his assets."
28. Paragraph 98, including the title, reads:
Property of the investment fund and assets and debts arising from investment activities
(1) For the purposes of this Regulation, the assets of the Investment Fund are:
(a) the holding fund of an asset in that holding fund;
(b) the asset trust fund in that trust fund;
(c) an investment fund with a legal personality of the assets of that investment fund with a legal personality; and
(d) the asset sub-fund in that sub-fund.
(2) Where an investment fund with a legal personality separates financial and property assets and debts arising from its investment activities from its other assets, only assets and debts arising from investment activities shall be taken into account for the purposes of this Regulation. ';
Transitional provisions
1. Paragraph 47 (3) of Decree No 243 / 2013 Coll., as effective before the date of entry into force of this Regulation, shall apply to investments of the special fund.
2. If the collective investment fund statute issued before the date of entry into force of this Regulation refers to the term "property ', it shall be understood to mean property pursuant to Article 98 of Government Regulation No 243 / 2013 Coll., as effective before the date of entry into force of this Regulation, with the exception of the provisions of this Statute relating to the limits referred to in Article 10 (1) and (2) (a) and Article 47 (1) (b) of Government Regulation No 243 / 2013 Coll., as effective from the date of entry into force of this Regulation, where the term" property' refers to "property 'under Article 98 of Government Regulation No 243 / 2013 Coll., as effective from the date of entry into force of this Regulation.
Efficacy
This Regulation shall take effect on 1 January 2022.
Prime Minister:
Ing. Babiš v. r.
Deputy Prime Minister and Finance Minister:
JUDr. Schiller, Ph.D., v. r.
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Regulation Information
| Citation | Government Regulation No. 432 / 2021 Coll., amending Government Regulation No. 243 / 2013 Coll., on investment of investment funds and on techniques for their management, as amended |
|---|---|
| Regulation Type | Regulation |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 30.11.2021 |
|---|---|
| Effective from | 01.01.2022 |
| Effective until | - |
| Status | Valid |
Legal Areas:
Securities
Finance
The regulation text is for informational purposes only.
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