Decree No. 92 / 2007 Coll.
Decree amending Decree No. 536 / 2004 Coll., implementing certain provisions of the Capital Market Enterprise Act in the field of protection against market abuse
Valid
Order
Effective from 01.05.2007
Text versions:
01.05.2007
27.04.2007
92
DECLARATION
of 12 April 2007
amending Decree No. 536 / 2004 Coll., implementing certain provisions of the Capital Market Enterprise Act in the field of protection against market abuse
The Czech National Bank provides pursuant to § 199 (2) (o) and (p) of Act No. 256 / 2004 Coll., on Capital Market Enterprise, as amended by Act No. 56 / 2006 Coll. and Act No. 57 / 2006 Coll.:
Decree No. 536 / 2004 Coll. implementing certain provisions of the Capital Market Enterprise Act in the field of protection against market abuse is amended as follows:
1. footnote 1 shall read:
"(1) Commission Directive 2003 / 124 / EC of 22 December 2003 implementing Directive 2003 / 6 / EC of the European Parliament and of the Council as regards the definition and publication of confidential information and the definition of market manipulation. Commission Directive 2004 / 72 / EC of 29 April 2004 implementing Directive 2003 / 6 / EC of the European Parliament and of the Council as regards accepted market practices, the definition of confidential information in relation to commodity derivatives, the compilation of insider lists, the notification of transactions of persons with management responsibility and the notification of suspicious transactions. ';
2. in Paragraph 1 (b):
"(b) the disclosure of inside information pursuant to § 124 (1) of the Act and its transmission to the Czech National Bank by the issuer of a financial instrument (hereinafter referred to as the" issuer "),"
3. in Article 1 (e):
"(e) the notification of transactions in securities by the issuer or financial instruments derived from these securities to the Czech National Bank by persons pursuant to Section 125 (5) of the Act, including the way in which the notification is sent to the Czech National Bank and a more detailed definition of the types of transactions to which the reporting obligation applies;"
footnote 2 is deleted.
4. in § 1 (g), § 4 (1), § 6, § 10 (2) and (3), § 12 (2) (d) and § 12 (4), the word "Commission" shall be replaced by "Czech National Bank."
5. In Article 1, at the end of point (g), the comma is replaced by a dot and point (h) is deleted.
6. in Paragraph 2 (1) (b), the words "price or yield" shall be inserted after the words "on the course."
7. in Articles 2 (1) and (2) and 11 (1), "investment" is replaced by "financial."
8. In Paragraph 3 (1) (c), "investment 'is replaced by" financial'.
9. in Article 3 (1) (c), "on the market referred to in Article 1 (b)" shall be replaced by "on the regulated market of a Member State of the European Union."
10. in Article 3 (2), the words "the Commission in the Securities Commission Bulletin" shall be replaced by "the Czech National Bank in the Czech National Bank Bulletin";
11. In Section 4, the word "Commission 'is replaced by" Czech National Bank'.
12. in § 4 (1), § 10 (3) (a), the words "Securities Commission" shall be replaced by the words "Czech National Bank";
13. in Article 7 (b), the word "or" shall be deleted;
14. in Article 7, at the end of point (c), the dot is replaced by a comma and the word "or" is added.
15. in Article 7, the following point (d) is added:
"(d) are employees or other persons who have access to inside information with a person referred to in (c).";
16. in Article 8 (3), the words "no access to internal information" shall be replaced by "no access to internal information."
17. The heading of Part Four reads:
NOTIFICATION OF TRANSACTIONS BY PERSONS '.
18.
More detailed definition of the types of transactions covered by the notification obligation
(1) The notification obligations under Section 125 (5) of the Act shall be subject to transactions in shares or provisional certificates issued by the issuer and transactions in financial instruments the value of which is derived from those shares or provisional certificates.
(2) The person referred to in Section 125 (5) of the Act fulfils the notification requirement if the sum of the transaction values in a calendar year exceeds EUR 5 000 in respect of all transactions made in a calendar year.
(3) For the purposes of assessing whether a condition referred to in paragraph 2 is met, the issuer or the person who is a member of the supervisory authority of the issuer shall be added to the value of the transactions made in the same calendar year for his own account.
(a) spouse,
(b) an uninsured child;
(c) other relatives living with her in the same household for at least one year;
(d) another person who is, for at least one year, a member of the supervisory body of the issuer, who is in a similar family relationship to the leading person of the issuer or of the person who is a member of the supervisory body of the issuer, who has lived with him in the same household for at least one year, and who would have suffered harm from one of them, the other would reasonably have felt his own harm; or
(e) a legal person pursuant to § 125 (5) of the Act.
(4) In the case of a person referred to in paragraph 3 (a) to (e), the value of transactions executed in the same calendar year shall be added to the transaction values for the purposes of assessing whether the condition referred to in paragraph 2 is met for the purposes of the management of the issuer or the person who is a member of the supervisory authority of the issuer.
(5) The transaction value referred to in paragraph 2 shall be the market value of the transaction object at the date of the transaction; in the case of options, the value means the market value of the underlying asset. ';
19. in Paragraph 10 (1) (c), the words "(hereinafter referred to as" the obliged person ")" shall be deleted;
20. in Paragraph 10 (1) (c), the words "; in the case of a natural person, the birth number" shall also be deleted.
21. in Paragraph 10 (1) (d), the words "the compulsory person" shall be replaced by the words "the person referred to in (c)."
22. in Paragraph 10 (1) (e), the words "(trade closed)" shall be deleted;
23. in Article 10 (1) (f):
"(f) the type of financial instrument to which the notification relates and its identification marking under the international numbering system for securities identification (ISIN), if allocated;"
24. in Paragraph 10 (1) (g), "other transfer" is replaced by "other transaction";
25. in Article 10 (2) and (3), the words "the person required" shall be replaced by the words "the person referred to in paragraph 1 (c)."
26. in Article 10 (3), the words "MO notifications" are replaced by the words "transaction notifications."
27. in Paragraph 11 (1), "investment" is replaced by "financial."
28. in Article 11 (1) (h), the word "a" shall be deleted;
29. in Article 11 (1) (i), the word "information" is replaced by "investment recommendations."
30. In Article 11 (1), at the end of paragraph 1, the dot is replaced by "and 'and the following point (j) is added:
"(j) whether the procedure or trade fulfilled the conditions for the recognition of a market practice under § 126 (8) of the Act."
31. Paragraph 11 (2) is deleted and paragraph 1 is deleted.
32. in Article 12 (2) (a):
"(a) by e-mail to an electronic address published by the Czech National Bank in the Czech National Bank Bulletin,"
33. In Article 12 (2) (b) and (d), the words "the Commission shall publish in the Securities Commission Bulletin" shall be replaced by "the Czech National Bank shall publish in the Czech National Bank Bulletin."
34. in Article 12 (2) (c), the word "Commission," shall be replaced by the words "Czech National Bank," or "
35. in Article 12 (3) (c), the words "(trade closure)" shall be deleted;
36. in Article 12 (3) (d):
"(d) the designation of the financial instrument to which the notification relates and its ISIN, if assigned;"
37. in Paragraph 12 (3) (e), "other transfer" is replaced by "other transaction";
38. Annexes 1 to 4 shall read as follows:
"Annex No 1 to Decree No 536 / 2004 Coll.
Model
Notification of postponement of disclosure of inside information
Příloha č. 2
Annex No 2 to Decree No 536 / 2004 Coll.
Model
Notification of transactions in shares and provisional notes
Příloha č. 3
Annex No 3 to Decree No 536 / 2004 Coll.
Model
Notification of an option transaction
Příloha č. 4
Annex No 4 to Decree No 536 / 2004 Coll.
Model
Notification of a transaction with other financial instruments
Transitional provision
The issuer shall adapt the management of the list of persons who have access to internal information to Decree No. 536 / 2004 Coll., implementing certain provisions of the Capital Market Act in the field of protection against market abuse, as effective from the date of application of this decree, no later than 4 months after the date of entry into force of this decree.
Efficacy
This Decree shall take effect on 1 May 2007.
Governor:
Doc. Ing. Tůma, CSc.
Contents
Sign in for notes, favorites and notifications
Regulation Information
| Citation | Decree No. 92 / 2007 Coll., amending Decree No. 536 / 2004 Coll., implementing certain provisions of the Capital Market Enterprise Act in the field of protection against market abuse |
|---|---|
| Regulation Type | Order |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 27.04.2007 |
|---|---|
| Effective from | 01.05.2007 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
Comments 0