Decree No. 58 / 2006 Coll.
Ordinance on the method of keeping separate records of investment instruments and records relating to separate records of investment instruments
Valid
Effective from 08.03.2006
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58
DECLARATION
of 23 February 2006
on the method of keeping separate records of investment vehicles and records relating to separate records of investment vehicles
According to Section 199 (2) (g) and (k) of Act No. 256 / 2004 Coll., on Capital Market Business, as amended by Act No. 56 / 2006 Coll., (hereinafter referred to as "the Act '):
GENERAL PROVISIONS
Subject matter
(1) This Decree regulates the way in which separate records of investment vehicles (hereinafter referred to as "separate records') are kept and records relating to the separate records of investment vehicles (hereinafter referred to as" follow-up records') and details of the way in which information is sent by the person in charge of the register.
(2) The following registration according to this decree is also the registration based on the registration of securities held by the Czech National Bank pursuant to § 93 (5) of the Act.
Definition of terms
For the purposes of this decree:
(a) a register of separate records or subsequent records;
(b) a hardware and software storage system to create and store entries in property accounts;
(c) by an order stating the will of the authorised person designated by the person holding the register for which registration is required;
(d) by entering in the register any entry in the property account, in particular:
1. the establishment or cancellation of the property account;
2. change of the account holder's data;
3. the issue and cancellation of the book-entry security;
4. crediting or debiting from a paper security account when it is taken into custody or issued out of custody;
5. the crediting of a foreign security to an account held abroad for a person holding a record or debiting a foreign security from an account held abroad for a person holding a record;
6. transfer or transfer of an investment instrument or co-ownership interest in an investment instrument;
7. Establishment, modification or termination of the lien on the investment instrument;
8. the registration or revocation of the suspension of the right of the owner to dispose of a book-entry investment instrument;
9. change in the nominal value or other elements of the investment instrument;
(e) a document relating to the information entered in the register (hereinafter referred to as the document) of the registration order and to the documents proving the person's authorisation to submit the order; where the execution or manner of execution of the order depends on other facts, as well as documents proving such facts, in particular information on the change in the status of the customer account or account maintained by a foreign person;
(f) by a user, a member of staff or any other person who carries out the tasks arising from the keeping of such a register for persons keeping records;
(g) by closing the operating day, the moment when the entries in the register are completed on the operating day;
(h) the property account management contract referred to in Article 5 (3) or (4);
(i) a reclassification check of the compliance of the data entered in the register with the actual situation and the procedure for the removal of the irregularities detected.
Organisational and technical security of record keeping
(1) The records shall be kept in electronic form.
(2) Registration system
(a) ensure the preservation of all data the keeping of which is required by this decree;
(b) allows the setting and verification of access rights of individual users;
(c) ensure adequate protection of data kept in the register against unauthorised disposal;
(d) records information on which user entered the entry in the register,
e) allows for regular data backup;
f) allows complete and accurate reconstruction of data.
(3) The person in charge of the register shall ensure regular backup of the data from which the data kept in the register can be reconstructed. Carriers with recorded back-up data shall be kept outside the building in which the technical means of the record-keeping system used to store data for normal operation are located. Backup shall be carried out according to a predetermined timetable by the person holding the register but without undue delay after the closing of the operating day.
(4) The person in charge of the register shall ensure that media with recorded backup data are secured against unauthorised interference by third parties and against loss and damage.
(5) The person in charge of the register shall ensure that the replacement operation of the system is ensured in the event of a malfunction of the system's management functions. The replacement operation of the system shall ensure compliance with the requirements referred to in paragraph 2.
(6) Organisational and technical security of the keeping of records shall be provided for by the person holding the records in a binding manner in writing and shall provide at least:
(a) conditions for access by users to the record keeping system, the scope of access rights and the setting-up process, including how to decide on the scope of access rights of individual users and decide on their changes;
(b) the procedure and timing of the data backup referred to in paragraph 3;
(c) the procedure for the reconstruction of data kept in the back-up data register;
(d) the way documents are kept;
(e) the procedure for dealing with situations where the functions of the record keeping system are malfunctioning, including the way in which the replacement operation is ensured;
(f) a procedure for dealing with a situation where the means used to keep records under contract with another person cannot be used anymore;
(g) the procedure for correcting errors in the register.
(7) Paragraphs 1 to 6 shall not apply to foreign persons authorised by the supervisory authority of another Member State of the European Union to provide investment services.
(1) The timetable for receiving and processing orders during the operating day (hereinafter referred to as the "operational day schedule") established by the person managing the register shall be published in a manner enabling remote access for the duration of the keeping of the register. The timetable for the operating day shall include the determination of the operating day's accounts.
(2) The entry into the follow-up register resulting from the entry made on the customer account shall be effected without undue delay after the entry into the customer account has been made, on the operating date of the entry into the customer account. Similarly, a separate registration of foreign securities shall be carried out.
(3) Entry into custody and issue of paper securities shall be effected without undue delay upon receipt of paper securities for safekeeping or issue of such securities for safekeeping on the operational date on which the securities were taken into custody or issued from safekeeping.
Establishment of an property account
(1) The account holder shall verify the data of the account holder entered in the register when the property account is opened. Similarly, they shall verify the details of the account holder when writing the change to that information in the register. This is without prejudice to obligations under other legislation1).
(2) A customer account shall only be opened by a person who can prove that he / she is entitled to keep a subsequent register (2).
(3) A securities dealer or a foreign person with a registered office in a State which is not a Member State of the European Union and which provides investment services in the territory of the Czech Republic through an organisational component pursuant to § 28 of the Act or an investment company in the custody and administration of securities issued by the collective investment fund (3) (hereinafter referred to as "the obliged entity ') always establishes an asset account
(a) where, as a custodian, a contract is concluded for the safekeeping of paper securities, unless the custodian has already set up an account with that debtor; and
(b) at the time of the conclusion of the contract for the provision of an investment service, in the context of which the obliged entity is required to take over foreign securities pursuant to Article 93 (1) (c) of the Act, unless the customer has already established an account with that obliged entity.
(4) In cases other than those referred to in paragraph 3, the account holder shall set up an asset account on the basis of a contract with the account holder or the issuer of the book-entry security, the content of which gives the account-holder an obligation to establish and maintain the property account.
Forms of property accounts
(1) The account of the owner contains in particular:
(a) an account identification clearly identifying the account in the register;
(b) an indication that it is the owner's account;
(c) details of the person referred to in Article 2 (1) (j) of the Act for whom he is maintained;
(d) information on investment vehicles pursuant to Articles 12 (1) and (2), 15, 18 and 21;
(e) data on separately transferable rights pursuant to Article 12 (3).
(2) The account of the owner may include, if agreed in the property account management contract, in addition to the information referred to in paragraph 1, an indication of the joint owner of the investment vehicle and the size of its joint ownership interest.
(3) The owner's account held for a natural person who has not been assigned a birth number also contains a designation which clearly identifies the natural person in the register. The property account held for a legal person who has not been assigned an identification number shall also include a designation which clearly identifies it in the register.
(4) The customer account contains:
(a) the particulars referred to in paragraph 1 (a) and (c);
(b) an indication that it is a customer account;
(c) information on investment vehicles pursuant to Articles 12 (1), 15 (1), 18 (1) and 21 (1),
(d) data on separately transferable rights pursuant to Article 12 (3).
Registration
(1) The person keeping the register shall make entries in the register in such a way that the data entered in the register correspond to the actual situation.
(2) The person managing the register before the entry into the register checks that the order is submitted by an authorised person; where the execution or execution of the order depends on other facts, they shall verify that they have occurred.
Extract from the property account
(1) The extract from the property account contains:
(a) details of the person who issued the extract from the property account,
(b) the information registered in the property account pursuant to Article 6; the particulars referred to in Article 12 (1) (b) need not be disclosed if the statement from the property account indicates the information referred to in Article 12 (1) (c) in conjunction with the trading company, name or name of the issuer;
(c) the operating day on which the statement from the property account is issued;
(d) the date on which the statement from the property account is issued.
(2) Where a person managing a record is issued, under contract with the owner of the property account, a statement in the form of a report corresponding to the requirements of the International Telecommunications System between Financial Institutions (SWIFT),
(a) paragraph 1 (a) shall not apply; if the person managing the record is not the sender of the message corresponding to SWIFT requirements, the report shall be identified as the originator in accordance with rules corresponding to SWIFT requirements;
(b) for the identification of the owner of the property account, instead of data on the person referred to in paragraph 1 (b), in conjunction with Paragraph 6 (1) (b), the entity designation shall be used in accordance with SWIFT requirements; if the person managing the record is not the recipient of the report, in accordance with the rules applicable to SWIFT requirements, it shall be identified in the report as the final addressee;
(c) if it is an extract from a customer's account, the information in the report corresponding to SWIFT requirements shall indicate that the account holder is not the owner of the investment vehicles; If an extract is made out of the owner's account, it is not necessary to state that fact.
(3) Where an extract from the property account is issued in accordance with a condition other than the closing date of the operating day, that fact shall be indicated in the statement together with the determination of the time at which the extract is issued.
Cancellation of property account
The property account may not be cancelled as long as the investment vehicles are registered on it.
Management of records whose management is not imposed by law
The person entitled to keep a register whose management is not imposed by law on that person pursuant to § 12c (1) of the Act and § 9 (1) (b) of the Collective Investment Act (4) shall notify the Czech National Bank,
(a) to start the register and indicate the date from which it will keep the register;
(b) that it terminates the keeping of such records and indicates the date from which it terminates the keeping of records;
(c) its address for service in matters of record keeping and any amendment thereto. In the case of a foreign person, they shall also notify the address in the Czech Republic if they have established such an address.
The provisions of Part One and Sixth of this Order and the provisions of Part Two, Three or Four of this Order governing the registration of investment instruments which are the closest by nature to these other investment instruments shall apply to the keeping of records of investment instruments other than book-entry collective investment securities, paper-keeping securities, foreign securities or securities held by the Czech National Bank. When assessing the nature of another investment instrument, account shall be taken in particular of the importance of registration for the creation and duration of rights from the investment instrument, the possibility of transferring rights associated with the investment instrument by registration and the possibility of taking over the investment instrument by a third party.
EVIDENCE OF ACHIEVED CREDIT INVESTMENTS
Data recorded in an equity account on book-entry collective investment securities and separately transferable rights
(1) The data on book entry of collective investment securities in an asset account are in particular:
(a) the type of security;
(b) the particulars of the security provided for by other legislation5),
(c) identification markings under the international numbering system for securities identification (ISIN); if ISIN has not been allocated, other unique security marking, if assigned;
(d) the number of securities;
(e) restrictions on the transferability of a security as determined by the issuer.
(2) In addition to the information referred to in paragraph 1, information on:
(a) the security lien and an indication of the person of the lien creditor pursuant to § 2 (1) (j) of the Act;
(b) the person entitled to exercise the rights attaching to the security under Article 2 (1) (j) of the Act;
(c) the suspension of the exercise of the right of the owner to dispose of the security, the particulars of the person referred to in Article 2 (1) (j) of the law whose order has suspended the handling of the security and the time for which the handling of the security is suspended;
(d) the separation of separately transferable rights from the security, indicating which separately transferable rights are involved, including clearly distinguishing data.
(3) The data on separately transferable rights separated from the book-entry of the collective investment security which are separately recorded in the property account are in particular:
(a) the determination of the separately transferable right by indicating:
(1) ISIN; or, if ISIN has not been assigned, another clear indication, if assigned; or
2. a description of the separately transferable right, with clearly distinguishing information, including the identification of the security from which the separately transferable right has been separated, the information referred to in paragraph 1 (b) or (c);
(b) the number of units of a separately transferable right where the distribution of the right per unit is considered.
Reconciliation of separate records and subsequent records of book-entry collective investment securities
(1) The person responsible for keeping a separate register of book-entry securities for collective investment shall, after the closure of each operating day, verify that the total number of substitutable securities registered in property accounts is equal to the total number of securities issued and that the total number of separately transferable rights separated from securities that are recorded in property accounts is equal to the total number of separately transferable securities issued.
(2) The following person shall verify, after the closure of each operating day, that the total number of substitutable securities registered in the property accounts matches the number of substitutable securities registered in the customer account held in the separate register for the person managing the underlying and that the total number of separately transferable rights separated from the securities that are registered in the property accounts coincides with the total number of separately transferable rights registered in the customer account for the person managing the account.
Reporting of issues of book-entry collective investment securities
(1) If the book-entry securities of collective investment are entered in separate accounts, the person holding the separate register shall keep an issue record for the issuer of those securities.
(2) The recording of the issue of book-entry collective investment securities contains:
(a) the information provided for in Article 12 (1) (a) to (c) and (e);
(b) an indication of the total number of securities issued in the issue;
(c) information on the holders of securities pursuant to Article 2 (1) (j) of the Act;
(d) an indication of the number of securities of individual owners;
(e) details of the co-owners of the security referred to in Article 2 (1) (j) of the Act and the size of their co-ownership interests, provided that they are entered in property accounts pursuant to Article 6 (2);
(f) the information referred to in Article 12 (2).
(3) The data referred to in paragraph 2 (c) to (f) are recorded in the emission record only when an emission record is issued.
(4) An extract from the emission record shall be issued according to the status on which the issuer applied for the extract from the register at the closing date. Emission records shall include:
(a) an indication that it is an extract from the record of an issue in the separate register of investment vehicles;
(b) details of the person holding the separate register pursuant to § 2 (1) (j) of the Act issuing the extract of the emission records;
(c) the data recorded in the emission register referred to in paragraph 2 (a) to (e) and Article 12 (2) (a), (b) and (d); an indication of the data referred to in Article 12 (1) (b) is not required if the statement on the emission record indicates the information referred to in Article 12 (1) (c) in conjunction with the issuer's trading firm;
(d) the operating day on which the extract from the emission register is issued;
(e) the date on which the extract from the emission record is issued.
(5) In addition to the information referred to in paragraph 4, the extract from the record of the issue issued for the purpose of converting the form of a book-entry collective investment security shall contain data on the suspension of the exercise of the right of the owner to dispose of the security, data on the person referred to in Article 2 (1) (b). (j) the law or designation of the court or authority under whose order the handling of the security has been suspended and the period for which the handling of the security is suspended.
(6) Upon request by the person responsible for the record-keeping, the person responsible for the record-keeping shall provide the data referred to in paragraphs 3 (c) to (f), 4 (d) and (e) and 5.
(7) Paragraphs 1 to 6 shall apply mutatis mutandis to separately transferable rights separated from book-entry collective investment securities pursuant to Article 12 (3).
EVIDENCE OF CHARGIN PRICE PAPERS IN TRADE
Data recorded in the property account of paper securities in custody
(1) The data on the paper security in the property account are in particular:
(a) the identification of the paper security by
(1) ISIN; or, if ISIN has not been assigned, any other clear indication of the security, if assigned; or
2. details of the issuer's person, the name of the security, the type and form of the security, the nominal value and the rights which distinguish the security from the securities with which it would otherwise be substitutable; for securities other than shares, similar securities representing a share of a company or securities issued by a collective investment fund, the identification shall be supplemented by an indication of the subject-matter and maturity of the rights arising from the security;
(b) the number of head or the aggregate nominal value of the paper securities, if the number of head cannot be determined.
(2) Where this is agreed in the property account management contract, the information on:
(a) the separation of separately transferable rights from the security, indicating which separately transferable right is involved, including clearly distinguishing data;
(b) the lien on the security and the person of the lien creditor.
The entry in the register of the transfer of the paper security shall be made by the person managing the register only if it is demonstrated that the change of the person holding the security takes place on the basis of the transfer contract at the latest at the time the transfer is entered in the register.
Reclassification of paper stock records
(1) The person keeping separate records regularly, at least every 12 months, shall verify that the total number of fungible paper securities registered in property accounts coincides with the total number of fungible paper securities actually deposited in custody.
(2) A person managing a follow-up record regularly, at least once a month, shall verify that the total number of individual substitutable paper securities registered in property accounts coincides with the number of individual substitutable paper securities registered in the customer account held in a separate register for the person managing the underlying account.
THE EVIDENCE OF FOREIGN SECURITIES
Data registered in the foreign securities property account
(1) The data on foreign security that is an investment instrument (hereinafter referred to as "foreign security") in the property account in the register are in particular:
(a) identification of the foreign security
(1) ISIN; or, if ISIN has not been assigned, any other clear indication of the security, if assigned; or
2. details of the issuer's person, the name of the security, the type, form and form of the security, the nominal value and the rights which distinguish the security from the securities with which it would otherwise be substitutable; for securities which are not shares, similar securities representing a share in a company or securities issued by a collective investment fund, the identification according to the preceding sentence shall be supplemented by an indication of the subject-matter and maturity of the rights arising from the security;
(b) the number of units or the aggregate nominal value of foreign securities, if the number of units cannot be determined.
(2) Where this is agreed in the property account management contract, the information on:
(a) the separation of separately transferable rights from the security, indicating which separately transferable right is involved, including clearly distinguishing data;
(b) the lien on the security and the person of the lien creditor.
The entry in the register of the transfer of the foreign security shall be made by the person responsible for the registration only if it is demonstrated that the change of the person who owns the security takes place on the basis of the transfer contract at the latest at the time when the transfer is entered in the register.
Reconciliation of external securities records
(1) The person keeping separate accounts regularly, at least once a month, shall verify that the total number of substitutable foreign securities registered in property accounts coincides with the total number of substitutable foreign securities held for the person keeping separate accounts in the external records.
(2) The person managing the follow-up records regularly, at least once a month, shall verify that the total number of individual substitutable foreign securities registered in the property accounts coincides with the number of individual substitutable foreign securities registered in the customer account held in a separate register for the person managing the subsequent registration.
EVIDENCE RELATED TO THE EVIDENCE OF PRICE PAPERS BY THE NATIONAL BANK
Data recorded on securities in the owner's account
(1) The security data in the owner's account are:
(a) the type of security;
(b) the particulars of the book-entry security provided for by other legislation5),
(c) ISIN; or, if ISIN has not been assigned, other unambiguous labelling of the security, if any,
(d) the number of securities or the aggregate nominal value of the securities.
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Regulation Information
| Citation | Decree No. 58 / 2006 Coll., on the method of keeping separate registration of investment vehicles and records relating to separate registration of investment vehicles |
|---|---|
| Regulation Type | - |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 08.03.2006 |
|---|---|
| Effective from | 08.03.2006 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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