Full text of Act No. 490 / 2004 Coll.
Full text of Act No. 591 / 1992 Coll., on Securities, as resulting from subsequent amendments
Valid
Declared full text
Text versions:
17.09.2004
Contents
ČÁST PRVNÍ
§ 1
§ 2
§ 3
§ 4
§ 5
§ 6
§ 7 a 8
§ 8a
§ 8b až 11
§ 12
ČÁST DRUHÁ
HLAVA I
§ 13
§ 14 a 15
§ 16
§ 16a
§ 17
§ 18
§ 19
§ 20
§ 21 až 27a
HLAVA II
§ 28
§ 29
§ 30
§ 31
§ 32
§ 33
§ 33a
§ 33b
HLAVA III
§ 34
§ 35
§ 36
§ 37
§ 37a
§ 38
HLAVA IV
§ 39
§ 40
§ 41
§ 42
§ 43
§ 44
§ 44a
HLAVA V
§ 44b
§ 44c
§ 44d
§ 44e
§ 44f
§ 44g
§ 44h
§ 44i
ČÁSTI TŘETÍ až PÁTÁ
ČÁST ŠESTÁ
§ 87a až 99
§ 102
§ 103
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490
PRESIDENT OF THE GOVERNMENT
Announces
The full text of Act No. 591 / 1992 Coll., on Securities, as follows from the amendments made by Act No. 89 / 1993 Coll., Act No. 331 / 1993 Coll., Act No. 259 / 1994 Coll., Act No. 61 / 1996 Coll., Act No. 152 / 1996 Coll., Act No. 15 / 1998 Coll., Act No. 70 / 2000 Coll., Act No. 307 / 2000 Coll., Act No. 362 / 2000 Coll., Act No. 239 / 2001 Coll., Act No. 259 / 2001 Coll., Act No. 501 / 2001 Coll., Act No. 308 / 2002 Coll., Act No. 88 / 2003 Coll. and Act No. 257 / 2004 Coll.
THE LAW
on securities
The Czech National Council decided on this law:
GENERAL PROVISIONS
(1) This Act applies to securities which are in particular shares, (1) provisional certificates, (2) share certificates, (2a) share certificates, (3) bonds, (4) investment coupons, (6) coupons (§ 12), options certificates, (6a) notes, (7) cheques, (7), (8) bills of lading, (9) stock certificates (10) and agricultural stock certificates. 10a)
(2) Securities shall be subject to provisions on movable matters, unless otherwise provided for in this law or in specific legislation.
(3) A foreign security is a security issued abroad, unless otherwise provided for in specific legislation. (b)
Where securities of the same type are issued by the same person in the same form and form and give rise to the same rights, they shall be fungible securities.
(1) A security may take the form of a security for the bearer, in series or in name. Law 11) may determine that a security may only be issued in one of the following forms.
(2) Where legislation 11a) refers to a security as a security for the owner, the provisions of this law governing the bearer securities shall apply to that security.
(3) Where legislation 11a) refers to a security as a security in a name and at the same time allows it to be transferred by ruboeing, the provisions of this law governing securities per line apply to that security.
Securities requirements
(1) Securities shall be required by law or other legislation. 12)
(2) However, the requirements of book-entry securities are not:
(a) their numerical indication;
(b) signatures or fingerprints;
(c) an indication of the authorisation of the competent authority.
(3) Where it is legally necessary to distinguish between individual book-entry securities, the holder of their registration shall be required to assign a numerical designation to those individual securities at the initiative of their issuer for this purpose.
Issue of a security
(1) A security is issued on the date on which it fulfils all the requirements laid down by law or other law for it and becomes the property of the first acquirer in accordance with the legal procedure (date of issue of the security). The date of issue of the security is the date indicating the date on which the security may be issued to the first acquirer. The date of issue of the security shall be determined by the issuer, unless otherwise specified by the special law. 12c)
(2) The procedures of the person issuing the security (hereinafter referred to as the issuer) are governed by the provisions of this Act and by special legislation.1), 3)
(3) Shares, certificates of shares, units or bonds may be issued as mass instruments replacing these individual securities. The rights attached to the instrument cannot be divided into shares. Under the conditions laid down in advance in the statutes of the issuer of shares, in the emission terms of bonds or in the contractual terms for the purchase and redemption of units, the holder of the instrument shall be entitled to exchange it for individual securities or other instruments. The instrument shall have the formalities laid down for the paper security. The replacement of a collective instrument for the book-entry securities shall be subject mutatis mutandis to the provisions of a specific law. 12f)
(4) A security containing all the particulars provided for it by law is properly issued even if the formalities for its issue have not been followed or if it has not become the property of its first acquirer in the legal manner provided that the first or any other acquirer has been in good faith to obtain the security issued properly. This shall be without prejudice to the liability of persons who have breached their obligations to issue securities. If the opposite is not demonstrated, the acquirer shall be deemed to have acted in good faith.
(5) Persons whose rights have been affected by the issue of securities in accordance with the procedure referred to in paragraph 4 have the right to compensation, both against the issuer and against persons acting on behalf of or on behalf of the issuer in this matter. This liability for damages shall be governed by the treatment of compensation under the Commercial Code.
The issue rate of a security is the monetary amount for which the issuer issues a security.
cancelled
The provisions of Part Two of this Act shall apply mutatis mutandis also to types of investment instruments12f) other than securities, unless otherwise provided for in the case.
cancelled
Coupons
(1) Coupons may be issued as bearer securities for the exercise of the right of return on shares, provisional certificates, bonds or units.
(2) Paper coupons are issued in the coupon sheet. Part of the coupon sheet can be a talon from which the right to issue a new coupon sheet comes. Talon is not a security.
(3) The coupon must contain details of:
(a) the type, issuer and code name of the security for which it was issued, with the exception of the code name of the book-entry security;
(b) the amount of the yield or the method of determining it;
(c) the date and place of exercise of the right to yield.
CONTRACTS ON SECURITIES
CONTRACTS ON TRANSFERS OF SECURITIES
(1) The contract for the transfer of securities in kind shall be governed by an adjustment to the sales contract in the Commercial Code, unless otherwise provided for in this law or in the nature of the case. The validity of the contract requires that the securities transferred and their purchase price be identified therein.
(2) Without determining the purchase price, the purchase contract is valid only if the parties have shown their willingness to close it without determining the purchase price. In such cases, the buyer is obliged to pay a purchase price corresponding to the lowest rate at which such fungible security was sold on the day of the conclusion of the contract on regulated markets. Where the fungible security was not traded on regulated markets on that date, the buyer shall pay the purchase price corresponding to the rate at which such security was last traded on regulated markets. If the purchase price cannot be determined in this way, the buyer is obliged to pay the nominal value of the security, otherwise the price that could be achieved in the course of professional care.
(3) The Treaty on the free transfer of a security is governed by the provision of a donation agreement in the Civil Code, unless otherwise provided for in this law or in the nature of the case.
cancelled
(1) When applying Section 469 of the Commercial Code, the price difference resulting from the purchase or sale of the security on a regulated market is decisive. Where a security is not traded on a regulated market, the price difference resulting from the purchase or usually sale otherwise is decisive.
(2) When applying Section 470 of the Commercial Code, the price difference is determined by the rate of the security on the regulated market; where the subject of the contract is a security which is not traded on a regulated market, the relevant price at which the security is mostly sold. The rate or price on the date of withdrawal shall be the decisive factor; If the beneficiary has not withdrawn from the contract without undue delay, the date on which it was able to withdraw from the contract first shall be decisive.
(3) The claim for compensation includes costs linked to the mediation of the contract for which the withdrawal took place, as well as contracts for replacement sale or replacement purchase, to the extent that these costs are customary.
(4) The application of paragraphs 1 and 2 is without prejudice to the right to compensation for any remaining damage.
Securities lending agreement
(1) The securities lending agreement obliges the creditor to transfer to the debtor a certain number of substitutable securities, and the debtor undertakes to transfer to the creditor the same number of substitutable securities at the end of the agreed period and to pay the price for the securities lending if the amount of the securities has been agreed.
(2) Instead of the price in money, a liability may be agreed to transfer to creditors a greater number of substitutable securities than the amount transferred to the debtor.
(3) The contractual obligations arising from the contract for the loan of securities are governed by the provisions of the Commercial Code. 14a) The obligations arising from the free-of-charge securities lending agreement are governed by the provisions of the Civil Code. 14b)
Transfer of securities
(1) The transfer of the paper security is effected by the transfer of the paper to the transferee, unless the law or agreement of the parties provides otherwise.
(2) The commitment to transfer a paper security is fulfilled by a transfer made pursuant to paragraph 1 where the paper security complies with the contract.
(1) A rupebook is also required to convert the paper security into series. The reverse must be unconditional and pass over all the rights associated with the paper, unless there is something else in the special law. 15) Any condition on which the rupebook has been made dependent shall be paid for unwritten. 15a)
(2) The transferability of a security to series may be limited only if the special law so permits. 16)
(3) The provisions of the special legislation governing the rupebook of the bill shall apply mutatis mutandis to the legitimate effects of the rupebook. 15a)
(1) The contract for the transfer of a paper security into a name must take a written form.
(2) The transferability of a security to a name may be excluded or limited by a special law, 11) or, if the special law so permits.
(18) Unless otherwise provided for in a special law, the person to whom the security is transferred shall be the owner of that security even if the transferor did not have the right to transfer the security, unless he knew or had to know that the transferor did not have that right at the time of the transfer. In doubt, good faith is assumed.
cancelled
CONTRACTING PARTIES
(1) The agency undertakes to arrange for the purchase or sale of a security, hereinafter referred to as the "agency contract," in its own name for the commission and on its behalf the purchase or sale of a security, or to carry out an activity to achieve that result, and the commission undertakes to pay for it.
(2) The contract referred to in paragraph 1 must be in writing.
(3) Unless otherwise provided for in this law, the contract shall be governed by the agency and legal relations resulting from it under the provisions of the Commercial Code. 20)
Unless otherwise assessed by the parties to the agency contract, the commission's instructions by which the agent provides the purchase or sale of the security must be in writing. If the commission order is not in writing, the commission shall, upon request, issue a certificate of the order.
(1) If the commission instructs agents to obtain the purchase of a security, the agent may request an advance.
(2) In the case of a paper-based security, the commission may require the commission to forward the security to the commission or, in the case of a book-entry security, to the register of investment instruments governed by special legislation12f (hereinafter referred to as the "investment instrument register '), the suspension of the exercise of the right to dispose of the security.
(3) For the duration of the order for the sale of the security, the commission is not entitled to dispose of the security.
(1) The Commissioner may waive his or her obligation by selling a security from his or her assets or by buying a security from the Commissioner only if the agency contract allows it.
(2) The Commission is obliged to sell a security at a higher price or to purchase a security at a lower price than that indicated in the order, if it has such an option; This obligation is without the consent of the commissary. The obligation of the agent under the previous sentence cannot be excluded by the agency contract if the agent is a securities dealer.
(3) Unless the amount of the purchase or sale price in the commission order is determined, the agent shall be obliged to purchase the security at the lowest possible rate and sell it at least at the highest rate at which the substitutable security was bought and sold on the regulated market on the day of the purchase or sale. Where such a security is not subject to trading on a regulated market on that date, the agent shall be obliged to purchase the security at the lowest price at which it could be purchased in the event of professional care and to sell at the highest price at which it could be sold in the event of professional care.
(1) If there is nothing else in the special law, the paper securities entrusted to the agents for sale are the assets of the commission until they are acquired by a third party.
(2) The paper securities to be provided by the agent to the commission shall be transferred to the agent's property on the date on which they are transferred to the commission. The Commissioner shall transmit the securities to the Board without undue delay after the commission has paid the price of the securities purchased and the remuneration referred to in Article 28 (1). The agent does not have this obligation if, under the contract, he is obliged to deposit securities for the commission (Sections 34 and 37).
(3) The Commissioner is required to order the transfer to the investment vehicle register for the benefit or liability of the Board's account without undue delay following the conclusion of a contract for the purchase or sale of the book-entry security. The agent is required to prove his authority to give this order to the person authorised to keep the records of investment instruments12f).
(1) The mandatore undertakes, in the name of and on behalf of the mandant, to purchase or sell the security in accordance with the mandant's instructions or to carry out an activity to achieve this result, and the mandant undertakes to pay for it. Article 31 on the duties and rights of the agent shall apply mutatis mutandis to the duties and rights of the mandator.
(2) The Treaty on the brokerage of the purchase or sale of securities obliges the intermediary to undertake activities aimed at giving the interested party the opportunity to sell or buy the security, and the interested party undertakes to pay for it.
(3) The contracts referred to in paragraphs 1 and 2 must be in writing.
(4) Unless otherwise provided for in this law, the contracts referred to in paragraphs 1 and 2 and the legal relations arising therefrom shall be governed by the provisions of the Commercial Code. 21)
(1) The contract to obtain the issue of a security and the contract to obtain the return of a fungible security must be in writing.
(2) The contracts referred to in paragraph 1 relating to investment securities may only be concluded by a securities dealer as a procuring entity, unless otherwise provided for in the specific legislation, by the authorisation of the securities dealer.
(1) The contract for the mediation of the issue of the fungible security and the contract for the mediation of the return of the security must be in writing.
(2) The contracts referred to in paragraph 1 relating to investment securities may only be concluded as an intermediary by a securities dealer or a regulated market organiser, unless otherwise provided for by the authorisation of the securities dealer or the regulated market organiser.
CONTRACTS ON SAFEGUARD, MANAGEMENT, DEPARTMENT AND MANAGEMENT OF SECURITIES
Securities safekeeping contract
(1) The securities depository contract obliges the custodian to take over the paper security for deposit in a separate or bulk deposit and the custodian undertakes to pay for it. The contract shall include the identification of the persons authorised to dispose of the paper security deposited in custody. If the contract does not specify the remuneration, the custodian shall have the right to the normal remuneration at the time the contract is concluded.
(2) A separate deposit is the deposit of the paper security of one custodian separately from the paper securities of the other custodians. The custodian shall return to the custodian the same paper security that the custodian has entrusted to him for safekeeping. The custodian shall be responsible for damage to the deposited paper security.
(3) Mass safekeeping is the joint deposit of the fungible paper security of the custodian with the fungible paper securities of other custodians. The custodian is obliged to hand over to the custodian a transferable paper security, but the custodian does not have the right to return the same paper security which he has entrusted to the custodian for safekeeping. The custodian shall be responsible for damage to the deposited paper security. Subscribe securities in bulk storage are the common property of custodians. The share of the custodian in the common property is determined by the ratio of the nominal values of the substitutable securities placed by him in the collective custody to the total nominal values of all substitutable securities in the collective custody. If securities do not have a nominal value, the number of securities shall be used instead of the nominal value. The provisions on joint ownership (21a) shall not apply to fungible securities in bulk storage. Each custodian shall be entitled to exercise his or her rights against the custodian separately.
(4) The custodian is required to keep records of the paper security deposited in custody. The registration shall include the business name or name, identification number or birth number and the registered office or place of business or residence of the custodian and issuer, the type of paper security and its nominal value. In the case of a separate deposit of a paper security, the registration shall include its number and location.
(5) If the paper security is not with the teller at the time of the conclusion of the contract, the teller shall take over and deposit it.
(6) The custodian must protect the paper security against loss, destruction, damage or impairment.
(7) The custodian shall be entitled at any time to require the paper security to be surrendered to him and to return it to the custodian if the securities deposit agreement has not been terminated.
(8) If the security deposit contract is not concluded for a specified period, the custodian or custodian may terminate it. If no notice period is agreed, the custodian may terminate the contract at the end of the following calendar month and the custodian shall have immediate effect.
(9) Unless otherwise provided for in the securities safekeeping agreement or in the speech of the custodian's will in connection with the collection of the deposited security, the contract shall be deemed to be terminated if the custodian has collected all the deposited paper.
(10) In order to ensure its rights under the securities safekeeping contract, the custodian shall have a lien to the paper security deposited in custody if it is in custody.
(11) Where bankruptcy of the custodian's assets is declared in the case of a mass deposit of fungible securities, those papers shall not form part of the bankruptcy nature and the AIFM shall take the necessary measures to issue them and issue them to individual custodians in accordance with their shares in accordance with paragraph 3. If the papers cannot be issued to all custodians, they shall deposit the unreturned papers with another custodian under similar conditions, taking into account the protection of the interests of the custodians. The administrator shall have the right to reimbursement of the costs associated with such measures against the insolvency. The custodians shall be liable for the costs thus incurred according to the ratio of their shares.
(12) Paragraphs 1 to 11 shall apply mutatis mutandis to book-entry securities.
(1) A paper security taken over under a securities safekeeping contract may be transferred by the custodian to another custodian (hereinafter referred to as "secondary safekeeping").
(2) The custodian is entitled to deposit the paper security which he has received for safekeeping into the secondary safekeeping without the consent of the custodian.
(3) The transfer of the paper security to secondary custody shall be without prejudice to the rights and obligations of the custodian vis-à-vis the custodian.
Securities management contract
(1) The securities management contract obliges the AIFM to take all legal acts necessary to exercise and maintain the rights attached to a particular security during the contract period and the security holder undertakes to pay for it. If the remuneration is not specified in the contract, the AIFM shall have the right to a normal remuneration at the time the contract is concluded.
(2) The AIFM shall, even without the instructions of the holder of the security, take all necessary steps to exercise and maintain the rights attached to the security, in particular to require compliance with the obligations relating to the security, as well as to exercise the exchange or pre-purchase rights attached to the security, unless the contract provides otherwise.
(3) The AIFM is obliged to comply with the instructions of the security owner; such instructions must be given in writing if the securities management contract does not allow for any other form. Incorrect instructions shall be given to the AIFM in due time to alert the security owner.
(4) Where the nature of the action to be carried out by the AIFM so requires, the holder of the security shall transmit to the administrator the paper security or the necessary written power of attorney, in due time after being called upon by the AIFM. Where the action of a book-entry security is concerned, its owner shall be obliged, upon request by the AIFM, to take appropriate steps to enable the AIFM to give orders for the handling of the book-entry security to the extent necessary.
(5) If the AIFM is to exercise the right associated with the security, the owner of the security shall be obliged to issue him with a power of attorney or have the AIFM enter the owner's account in the central register of investment vehicles. If the holder of the security gives instructions to the AIFM on how the right to vote is to be exercised, the AIFM shall be obliged to vote for the holder of the security in such a manner as to be determined.
(6) The administrator shall forward the receipt of the paper security to its owner without undue delay after the transaction for which the paper security was required, unless otherwise indicated by the nature of the transaction. As long as the administrator has the paper security on him, he shall be liable for the damage to him pursuant to Paragraph 34 (2).
(7) Unless otherwise agreed, the remuneration for the management of the security shall include the costs incurred by the AIFM in discharging its obligation.
(8) Unless otherwise provided for in the contract, the AIFM shall carry out the legal acts relating to the management of the security on behalf of and on behalf of the holder of the security; the provisions of the Trade Code on the Mandate Agreement shall apply mutatis mutandis to the determination of the rights and obligations of the Parties. If the AIFM is to perform a legal act in its name and on behalf of the holder of the security, the provisions of the Commercial Code on the agency contract shall apply mutatis mutandis.
(9) Paragraph 34 (8) shall apply mutatis mutandis to the termination of the securities management contract, unless otherwise provided for in this Treaty.
Securities deposit agreement
(1) The securities deposit agreement obliges the custodian to take over the paper security in order to deposit and manage it, and the depositor undertakes to pay for it. If the payment is not specified in the contract, the guardian shall have the right to a normal remuneration at the time the contract is concluded.
(2) The provisions governing the security safekeeping contract and the securities management contract shall apply mutatis mutandis to the securities deposit contract. The custodian shall report annually on the status of deposited paper securities.
(3) If a paper security is surrendered to the depositor at his request, the keeper shall not be obliged to manage it while the paper security is not in his possession.
(4) The depositor may limit the guardian's obligation to the obligations arising out of the security safekeeping contract or to those arising out of the securities management contract. The remuneration to be paid by the depositor shall in this case be reduced accordingly.
(5) The custodian may only hand over the paper security to secondary custody or secondary custody and administration with the consent of the depositor. The person who has taken over the paper security into secondary custody and administration may not be empowered to exercise the voting right attached to that security.
Securities management contract
(1) The securities management contract obliges the operator to manage the customer's assets in securities or in funds intended for the purchase of securities on the basis of free consideration under the contractual arrangement and the customer undertakes to pay for it. If the remuneration is not specified in the contract, the operator shall have the right to the normal remuneration at the time the contract is concluded.
(2) The contract referred to in paragraph 1 must be in writing.
(3) Where the management of investment instruments is concerned, only a securities dealer may be the manager referred to in paragraph 1 unless there is something different from the authorisation of the securities dealer.
(4) The manager shall, even without the customer's instructions, provide for the purchase, sale and initial acquisition of securities and, unless otherwise provided for in the contract, also carry out the activities referred to in paragraphs 34 and 36 in order to ensure the long-term professional care of the customer's assets. The customer may limit the operator's liability to the obligations relating to the acquisition, sale and initial acquisition of securities. The remuneration to be paid by the customer shall in this case be reduced accordingly.
(5) Paragraph 34 (7) shall apply mutatis mutandis, unless otherwise provided for in the case.
(6) The provisions governing the agency contract for the purchase or sale of securities, the mandator21b) and, where appropriate, the security safekeeping contract and the securities management contract shall apply mutatis mutandis.
(7) The provisions of paragraphs 1 to 6 are without prejudice to the adaptation of the management contract under specific legislation. 21c)
Immobilization of securities
(1) An issuer of such securities may also conclude a contract for the safekeeping of securities stored in a bulk deposit. In such a case, the paper security shall be issued on the date of transmission of the document to the depositary for the benefit of its owner. The name of the holder shall not be entered in the paper-based series and in the name assigned by the issuer to custody when the security is issued. The provisions of the special legislation12f) on book-entry securities shall apply mutatis mutandis to the securities thus deposited by the issuer (hereinafter referred to as "immobilised securities'), unless otherwise provided for by that law. The date on which the security is entered in the investment instrument records shall be the same as the date on which the instrument is transferred to the custodian.
(2) In the case of a paper security already issued, the provisions of a specific law shall apply mutatis mutandis to the procedure referred to in paragraph 1. 12f)
(3) The owner of the immobilized security has the right to require the issuer to forward the security to him without undue delay. Prior to the surrender of the paper security to the owner, the issuer shall add the name of the owner on the paper paper.
TREATY ON THE TERMINATION OF SECURITIES
(1) The Treaty on the cessation of securities is governed by the provisions of civil law (23) on lien, save as otherwise provided in that law. The law of the building 24) cannot be applied for the purposes of this law.
(2) The lien may not be established with securities which are stopped unless they are terminated pursuant to § 34 (10) or § 56 (8).
(1) The lien which is established under a contract pursuant to Paragraph 39 (hereinafter referred to as "the lien") shall, in the case of a paper security, arise from the transfer of that security to a lien creditor, unless otherwise provided for by that law.
(2) A written declaration by the holder of the security made on that security (hereinafter referred to as the "security underwriting ') shall also be required in order to establish the contractual lien for the paper security which is transferable by the rupees. Paragraph 11 (6) is without prejudice to this. The security code shall include a" stop' clause or words of the same meaning and the designation of the lien. A lien creditor shall not transfer a security backed by a security backed up by a security, unless otherwise specified by the special law. 25) If a claim secured by a lien is cancelled, the creditor shall be obliged to mark the loss of the lien on that security by crossing off the lien.
(1) The contractual lien to the paper security may also arise from the transfer to a third party for safekeeping or custody and administration, provided that the original or officially certified copy of the lien contract is simultaneously transmitted to the person. This is without prejudice to Paragraph 40 (2).
(2) The contractual lien to the paper security which has been deposited in the custody (§ 34) or in the custody and administration (§ 37) arises from the notification of the establishment of that lien to the custodian or guardian. The notification may be made by a lien creditor, debtor or pledge. The notification shall be accompanied by an original or an officially certified copy of the lien contract. This is without prejudice to Paragraph 40 (2).
(3) The stopping of the paper security referred to in paragraphs 1 and 2 must be indicated in the records of the custodian or guardian. It must be clear from this record who is the lien creditor.
(4) The pledged paper security, which is in separate custody, must be deposited separately from the other custodian's securities. The same applies to pledged paper securities deposited under a securities deposit agreement. The pledged paper security shall not be returned without the consent of the lien creditor.
(1) The contractual lien to the book-entry security is established by the entry of this lien into the owner's account in the register of investment instruments.
(2) An order for the entry of a contractual lien may be given by a lien creditor, debtor or lien. That order shall be accompanied by an original or an officially certified copy of the lien contract.
(3) The order for registration of a lien must contain:
(a) the firm or name or name and registered office or place of business or place of residence;
(b) the identification or birth number of the deposit;
(c) the ISIN or any other indication identifying the book-entry security and the number of stoppers of that security;
(d) the business name or name, identification number or birth number and registered office or place of business or residence of the lien creditor; and
(e) the amount of the principal of the claim for which the lien was established and its maturity, if known, or the type of claims for which the lien was established, the maximum amount to which the lien creditor may be satisfied and the duration of the lien.
(4) The contractual lien to the book-entry security shall cease to exist by noting the disappearance of that lien. The order for registration of the termination of the contract lien shall be filed by the lien creditor, debtor or pledge. This order shall be accompanied by a document proving that the secured claim has disappeared or by evidence of any other reason for the loss of the lien; the document shall not be attached if the lien creditor gives the order to register the termination of the lien.
(1) There is also a lien against the acquirer when dealing with a pledged security.
(2) If the pledged paper security is stored in custody, it may not be issued to the custodian without the consent of the lien creditor. The same applies to paper security deposited under the securities deposit contract.
(3) For the duration of the security lien, the lien shall also apply to the proceeds of the pledged security.
(4) Where a pledged security is to be exchanged by the issuer for another security, a lien arises to the same extent as the security for which the security is exchanged. Where a security security is required to establish a lien, it shall sign the lien on the exchanged security for the issuer's owner.
(5) A lien creditor shall not be entitled to exercise the rights attaching to a pledged security unless that law or special law or contract provides otherwise. The issuer shall be obliged to pay the lien to the lien if the security is withdrawn. The lien creditor shall be credited against the claim secured by the lien, unless the contract provides otherwise.
Contents
ČÁST PRVNÍ
§ 1
§ 2
§ 3
§ 4
§ 5
§ 6
§ 7 a 8
§ 8a
§ 8b až 11
§ 12
ČÁST DRUHÁ
HLAVA I
§ 13
§ 14 a 15
§ 16
§ 16a
§ 17
§ 18
§ 19
§ 20
§ 21 až 27a
HLAVA II
§ 28
§ 29
§ 30
§ 31
§ 32
§ 33
§ 33a
§ 33b
HLAVA III
§ 34
§ 35
§ 36
§ 37
§ 37a
§ 38
HLAVA IV
§ 39
§ 40
§ 41
§ 42
§ 43
§ 44
§ 44a
HLAVA V
§ 44b
§ 44c
§ 44d
§ 44e
§ 44f
§ 44g
§ 44h
§ 44i
ČÁSTI TŘETÍ až PÁTÁ
ČÁST ŠESTÁ
§ 87a až 99
§ 102
§ 103
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Regulation Information
| Citation | Full text of Act No. 490 / 2004 Coll., Act No. 591 / 1992 Coll., on Securities, as resulting from subsequent amendments |
|---|---|
| Regulation Type | Declared full text |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 17.09.2004 |
|---|---|
| Effective from | - |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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