Decree No. 546 / 2004 Coll.
Decree amending Decree No. 502 / 2002 Coll., implementing certain provisions of Act No. 563 / 1991 Coll., on Accounting, as amended, for entities that are insurance undertakings, as amended, as amended by Decree No. 474 / 2003 Coll.
Valid
Order
Effective from 01.01.2005
Text versions:
01.01.2005
29.10.2004
546
DECLARATION
of 20 October 2004
amending Decree No 502 / 2002 Coll., implementing certain provisions of Act No 563 / 1991 Coll., on Accounting, as amended, for entities that are insurance undertakings, as amended by Decree No 474 / 2003 Coll.
According to Section 37b of Act No. 563 / 1991 Coll., on Accounting, as amended, ("the Act '), the Ministry of Finance provides for the implementation of Sections 4 (8), 24 (4) and (5) and 28 (1):
Decree No. 502 / 2002 Coll., implementing certain provisions of Act No. 563 / 1991 Coll., on Accounting, as amended, for entities that are insurance undertakings, as amended by Decree No. 474 / 2003 Coll., is amended as follows:
1. In the second sentence of Article 10 (2), the words "activities directly related to those activities' are replaced by the words" activities related to insurance or reinsurance activities'.
2. In Section 10 (8) of the final part of the text, the words "held for trading or for sale 'are replaced by the words" held as fair value securities against cost or income accounts or feasible securities' and the words "held only for trading or for sale 'are replaced by the words" held as fair value securities against cost or income accounts'.
3. In the first sentence of Article 10 (11), the words "deposit and deposit certificates with banks' are replaced by" deposits and deposits confirmed by a deposit certificate, deposit note or other similar document '.
4. In the second sentence of Article 10 (12), the words "or claims on reinsurance undertakings up to the limit" shall be inserted after the words "cultural values."
5. In Article 10, the words "as amended 'shall be added after the words" other financial institutions' at the end of paragraph 12.
6. In Section 10, paragraph 16 is added:
"(16) Information on the investments carried out pursuant to § 21 of Act No. 363 / 1999 Coll., on Insurance and on the amendment of certain related laws (Insurance Act) as in force before the amendments made by Act No. 39 / 2004 Coll. or according to Article 21 of Act No. 363 / 1999 Coll. as amended by Act No. 39 / 2004 Coll. are listed in the notes in the financial statements if the investments were not transferred to the investment according to § 21a of Act No. 363 / 1999 Coll. as amended by Act No. 39 / 2004 Coll. '.
7. In Article 11 (2), "E.I.1. policyholders' is replaced by" E.I.1. policyholders 29a) ';
Footnote 29a reads:
"29a) § 3 (g) of Act No. 37 / 2004 Coll., on the Insurance Contract and on the amendment of related laws (the Insurance Contract Act). '.
8. In Article 11 (2), "E.I.2. brokers' is replaced by" E.I.2. insurance intermediaries'.
9. In Article 11 (3), the words "including reinsurance broker30a) 'shall be inserted after the words" the reinsurers'.
Footnote 30a reads:
"30a) § 2 (1) (hh) of Act No. 363 / 1999 Coll., on Insurance and on the amendment of certain related laws (Insurance Act), as amended by Act No. 39 / 2004 Coll. '.
10. in Article 16 (2), the word ", C.8.a)" shall be inserted after the word "C.7.a)."
11. in Article 16 (3), the word ", C.8.b)" shall be inserted after the word "C.7.b)."
12. in Article 16 (3), the words "reinsurance contracts" are replaced by "reinsurance contracts 36a)";
Footnote 36a reads:
"36a) § 2 (1) (g) of the Insurance Act. '
13. In Paragraph 16, the following paragraph 6 is inserted after paragraph 5:
"(6) The heading" C.6. Provisions for the fulfilment of the technical interest rate liabilities used "includes the technical provision according to the special legislation37a)."
Footnote 37a reads:
"37a) § 18a of the Insurance Act. '.
Paragraphs 6 to 8 shall be renumbered paragraphs 7 to 9.
14. in Article 16 (7), "C.7." is replaced by "C.8." and after "C.2. the life insurance provision" is inserted "or" C.6. the provision to meet the obligations of the technical interest rate used ";
15. in the second sentence of Article 18 (2), "this item" is replaced by "these items" and "brokers" is replaced by "insurance intermediaries or reinsurance brokers."
16. in Paragraph 19 (9), the last sentence is deleted;
17. In Paragraph 20, at the end of paragraph 1, the sentence "This item shall also include the rescue costs according to special legislation41a)."
footnote 41a is replaced by the following:
"41a) § 32 of Act No. 37 / 2004 Coll. '.
18. In Article 22, the words "as amended 'shall be added after the words" other financial institutions' at the end of paragraph 6.
19. in Article 35 (1), point (b) is replaced by the following:
"(c) transactions pursuant to Article 7 (3)."
20. In Article 35 (3), "paragraphs 1 and 2 'are replaced by" paragraphs 1 (a), 1 (b) and 2'.
21. In Part Five, Title IV is deleted.
22. In Part Five, Title V is deleted.
23. In Annex No 1, under "E.I.2. '," brokers', "insurance intermediaries' is replaced by" insurance intermediaries'.
24. In Annex 1, Part "Liabilities', the following entry" C.6 'is inserted after the entry "C.5':
"C.6. Provisions for meeting the technical interest rate liabilities
(a) gross amount........... X
(b) the share of the reinsurers (-)..................... ';
The entries "C.6. 'and" C.7.' are renumbered as "C.7. 'and" C.8.'.
Efficacy
This Decree shall take effect on 1 January 2005.
Minister:
Sobotka v. r.
Sign in for notes, favorites and notifications
Regulation Information
| Citation | Decree No. 546 / 2004 Coll., amending Decree No. 502 / 2002 Coll., implementing certain provisions of Act No. 563 / 1991 Coll., on Accounting, as amended, for entities that are insurance undertakings, as amended, as amended by Decree No. 474 / 2003 Coll. |
|---|---|
| Regulation Type | Order |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 29.10.2004 |
|---|---|
| Effective from | 01.01.2005 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
Comments 0