Act No. 96 / 2022 Coll.
Law amending certain laws in the field of the financial market in particular in connection with the implementation of European Union rules on the Union of capital markets
Valid
Law
Effective from 29.05.2022
Text versions:
29.05.2022
29.04.2022
Contents
ČÁST PRVNÍ
Čl. I
㤠5p
ČÁST DRUHÁ
Čl. II
ČÁST TŘETÍ
Čl. III
㤠27
ČÁST ČTVRTÁ
Čl. IV
㤠28aa
§ 28ab
㤠28d
㤠32f
„Díl 3
§ 32g
§ 32h
§ 32i
§ 32j
Čl. V
ČÁST PÁTÁ
Čl. VI
㤠5a
㤠6b
§ 6c
§ 6d
§ 6e
㤠8a
㤠9a
㤠10aa
„Oddíl 1
§ 11a
㤠12
§ 12a
㤠12aa
§ 12ab
§ 12ac
§ 12ad
§ 12ae
㤠12f
§ 12g
§ 12h
㤠12j
㤠12k
§ 12l
§ 12m
㤠15ca
㤠15da
㤠16a
§ 16b
„ČÁST OSMÁ
§ 90h
§ 90i
§ 90j
„ČÁST DESÁTÁ
§ 115a
§ 115b
§ 115c
§ 115d
§ 115e
§ 115f
§ 115g
§ 115h
㤠118
§ 119
㤠134b
㤠134f
㤠135a
§ 135b
§ 135c
㤠137a
§ 137b
§ 137c
㤠149ga
§ 149gb
„HLAVA II
§ 150
§ 151
§ 152
§ 153
§ 154
§ 155
§ 155a
§ 155b
§ 155c
㤠158a
㤠161c
㤠163a
㤠173
㤠184
§ 185
㤠192b
㤠204d
ČÁST ŠESTÁ
Čl. VII
ČÁST SEDMÁ
Čl. VIII
ČÁST OSMÁ
Čl. IX
ČÁST DEVÁTÁ
Čl. X
㤠20ba
ČÁST DESÁTÁ
Čl. XI
㤠8
㤠109aa
㤠121
ČÁST JEDENÁCTÁ
Čl. XII
ČÁST DVANÁCTÁ
Čl. XIII
㤠18a
§ 18b
ČÁST TŘINÁCTÁ
Čl. XIV
㤠297a
§ 297b
§ 297c
㤠304a
㤠306
㤠314
㤠314a
㤠315a
Čl. XV
ČÁST ČTRNÁCTÁ
Čl. XVI
ČÁST PATNÁCTÁ
Čl. XVII
ČÁST ŠESTNÁCTÁ
Čl. XVIII
ČÁST SEDMNÁCTÁ
Čl. XIX
ČÁST OSMNÁCTÁ
Čl. XX
ČÁST DEVATENÁCTÁ
Čl. XXI
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96
THE LAW
of 7 April 2022
amending certain laws in the field of the financial market in particular in the context of the implementation of European Union rules on the Union of capital markets
Parliament has decided on this law of the Czech Republic:
Amendment to the Banking Act
Act No. 100 / 2011, Act No. 100 / 2011, Act No. 100 / 2011, Act No. 100 / 2011, Act No. 100 / 2011, Act No. 100 / 2011, Act No. 100 / 2011, Act No. 100 / 2011, Act No. 100 / 2011, Act No. 100 / 2011, Act No. 100 / 2011, Act No. 100 / 2011, Act No. 100 / 2011, Act No. 100 / 2011, Act No. 100 / 2011, Act No. 100 / 2011, Act No. 100 / 2011, Act No. 100 / 2011, Act No. 100 / 2011, Act No. 100 / 2011, Act No. 100 / 2011, Act No. 100 / 2011, Act No. 100 / 2011, Act No. 100 / 2011, Act No. 100 / 2011, Act No. 100 / 2011, Act No. 100, Act No. 100, Act No. 100, Act No. 100 / 2011, Act No. 100, Act No. 2011, Act No. 100, Act No. 100, Act No. 100, Act No. 2011, Act No. 2011, No. 2011, No 2011, No. 2011, No. 100, No. 100, No. 2011, No. 2011, No. 2011, No. 2011, No. 100, No. 2011, No. 2011, No. 2011, No. 2011, No. 2011, No. 2011, No. 2011, No. 2011,
1. In Paragraph 1 (1), the words "applicable regulation 'are replaced by the words" applicable rules'.
2. in footnote 1, fifth sentence, the words "investment firms, 'are deleted and the words" and (EU) 2019 / 878' are replaced by the words "(EU) 2019 / 878 and (EU) 2019 / 2034 ';
3. footnote 27 shall read:
"(27) Regulation (EU) No 575 / 2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and amending Regulation (EU) No 648 / 2012, as amended. Regulation (EU) 2017 / 2402 of the European Parliament and of the Council of 12 December 2017 establishing a general framework for securitisation and establishing a specific framework for simple, transparent and standardised securitisation and amending Directives 2009 / 65 / EC, 2009 / 138 / EC, 2011 / 61 / EU and Regulations (EC) No 1060 / 2009 and (EU) No 648 / 2012, as amended. Regulation (EU) 2019 / 2088 of the European Parliament and of the Council of 27 November 2019 on the publication of information related to sustainability in the financial services sector, as amended. Regulation (EU) 2020 / 852 of the European Parliament and of the Council of 18 June 2020 establishing a framework for facilitating sustainable investment and amending Regulation (EU) 2019 / 2088. directly applicable European Union provisions implementing or amending European Union provisions referred to in footnote 1, or implementing or amending the directly applicable European Union provisions referred to in this footnote. ';
4. in Paragraph 1 (3), point (q) shall be deleted;
Point (r) shall be renumbered as point (q).
5. in Article 1 (3) (q), the text "(q)" is replaced by "(p)."
6. Article 3c is deleted.
7. The following Section 5p is inserted after Section 5o:
The foreign bank or authorised financial institution may provide investment services to professional customers under Section 2a of the Capital Market Act even without the establishment of a branch in the Czech Republic, even permanently. Paragraph 5a (1) and § 5c (2) shall not apply to the provision of investment services in accordance with the preceding sentence to the extent that they provide for the permanent operation of the activity exclusively through a branch. For a foreign bank having its registered office in a Member State other than a Member State, the first sentence shall apply where the conditions of the law governing business in the capital market for the provision of investment services are fulfilled by a foreign person having its registered office or head office in a State which is not a Member State without authorisation from the Czech National Bank. '
8. At the end of footnote 41, the words "as amended 'are added.
9. In Article 26 (1), the words "governing prudential requirements' are deleted.
10. in Article 26c (2), the words "If a bank, savings and credit cooperative or a securities trader is controlled" shall be replaced by "If a bank or savings and credit cooperative is controlled."
11. in Article 26c (3), the word "or" shall be added at the end of point (a), at the end of point (b), "or" shall be replaced by a dot and point (c) shall be deleted;
12. in Article 26c (4), at the end of the introductory part of the provision, the words "the bank or savings and credit cooperative has the highest balance sheet total from credit institutions that are in a group of Member States" and points (a) and (b) are deleted;
13. in the second sentence of Article 26c (6), the words "European controlling investment firm," shall be deleted;
14. in Article 26c, paragraph 7 is deleted;
Paragraphs 8 to 10 shall be renumbered paragraphs 7 to 9.
15. in Article 26c, paragraph 8 is deleted;
Paragraph 9 shall become paragraph 8.
16. in Article 26d (1), the words "savings and credit cooperatives or securities dealers controlled" shall be replaced by "or savings and credit cooperatives controlled," the words "not subject" shall be replaced by the words "not subject," and the words "savings and credit cooperatives or securities dealers shall be" shall be replaced by "or the words" not subject. "
17. in the first sentence of Article 26d (4), the words', savings and credit cooperatives or securities dealers' shall be replaced by 'or savings and credit cooperatives' and the words' bank 'shall be replaced by' that bank or that savings and credit cooperative ';
18. in Article 26e (3) and in the third sentence of Article 26f (2), the words "savings and credit cooperatives or securities dealers" shall be replaced by "savings and credit cooperatives."
19. in Article 26e (4), the words "or investment firm" and the words "or investment firm" shall be deleted;
20. in Article 26f (1), the words "savings and credit cooperatives or securities dealers" shall be replaced by "or savings and credit cooperatives."
21. in Article 26f (3), the words', savings and credit cooperatives or securities dealers' shall be replaced by 'or savings and credit cooperatives' and the words', savings and credit cooperatives or securities dealers' shall be replaced by 'or savings and credit cooperatives';
22. in Article 26g (2), the words "a domestic controlling securities dealer, a European controlling investment firm," shall be deleted;
23. in Article 26g (8), the words "securities dealer," shall be deleted;
24. in Article 26i (1) (c), the words "securities dealer" shall be deleted;
25. in Article 26j (1) of the introductory part of the provision, the words "significant branches," shall be replaced by the words "significant branches," and the words "or significant branches under the law governing the capital market business" shall be deleted;
26. in Articles 26k (1) and 26l (2), the words "European controlling investment firm," shall be deleted;
27. in Article 26l (4) (d), the words "significant branches," shall be replaced by the words "significant branches," and the words "or significant branches under the law governing the capital market business" shall be deleted;
28. in Article 26n (3), the words "securities dealer," shall be deleted;
29. In Paragraph 36 (7), the last sentence is replaced by the sentences "The remuneration and the way it is paid is determined by the liquidator of the Czech National Bank. The rules for determining and paying compensation for the final expenses and remuneration of the liquidator and the maximum amount paid by the State shall be laid down by the Order of the Czech National Bank. '
30. in Article 36d, paragraph 3 is deleted;
Paragraphs 4 to 8 shall be renumbered paragraphs 3 to 7.
31. in Paragraph 36d (6) (a), "1, 2 or 3" is replaced by "1 or 2."
32. in Article 36d (6) (b), "5" is replaced by "4."
33.In Article 36d (7) of the introductory part of the provision, "4 or 6" is replaced by "3 or 5."
34. in Article 36e (2), the words "or the requirements laid down in Article 5 of Regulation (EU) 2019 / 208845 of the European Parliament and of the Council" shall be added at the end of the text of point (a);
footnote 45:
"(45) Regulation (EU) 2019 / 2088 of the European Parliament and of the Council of 27 November 2019 on the publication of information related to sustainability in the financial services sector, as amended. ';
35. in Paragraph 36e (2) (f), footnote 40 is replaced by footnote 41;
36. in Article 38d (1) (c) and (2) (c), the words "agreements" shall be inserted after the words "agreements" and the words "under" shall be inserted after "Article 26c (6) a."
Amendment of the Act on savings and credit cooperatives
Act No. 586 / 1992 Coll., as amended by Act No. 100 / 2000 Coll., Act No. 406 / 2001 Coll., Act No. 212 / 2002 Coll., Act No. 257 / 2004 Coll., Act No. 280 / 2004 Coll., Act No. 285 / 2009 Coll., Act No. 156 / 2010 Coll., Act No. 406 / 2001 Coll., Act No. 126 / 2008 Coll., Act No. 254 / 2008 Coll., Act No. 70 / 2006 Coll., Act No. 120 / 2007 Coll., Act No. 296 / 2007 Coll. the Act No. 219 / 2015 Coll., Act No. 375 / 2015 Coll., Act No. 258 / 2016 Coll., Act No. 301 / 2016 Coll., Act No. 183 / 2017 Coll., Act No. 204 / 2017 Coll., Act No. 371 / 2017 Coll., Act No. 238 / 2020 Coll., Act No. 338 / 2020 Coll. and Act No. 353 / 2021 Coll., is amended as follows:
1. In footnote 1, third sentence, the words "and investment firms' are deleted and the words" and (EU) 2019 / 878 'are replaced by the words "," (EU) 2019 / 878 and (EU) 2019 / 2034'.
2. In footnote 38, the words "and investment firms' are deleted.
3. Paragraph 13 (9) reads:
"(9) The costs associated with the performance of the liquidator's activities shall be borne by the cooperative reserve assets. If its assets are not sufficient to pay the liquidator's remuneration and to compensate for its final expenses, they shall be paid by the State, which shall receive a claim for a cooperative advance equal to the amounts paid. The remuneration and the method of its payment are determined by the liquidator of the Czech National Bank. The rules for determining and paying compensation for the final expenses and remuneration of the liquidator and the maximum amount paid by the State shall be laid down by the Order of the Czech National Bank. '
4. At the end of footnote 50, the words "as amended 'are added.
Amendment to the Capital Market Supervisory Act
Act No. 15 / 1998 Coll., on supervision in the field of capital market and amending and supplementing other laws, as amended by Act No. 30 / 2000 Coll., Act No. 362 / 2000 Coll., Act No. 370 / 2000 Coll., Act No. 160 / 2010 Coll., Act No. 188 / 2004 Coll., Act No. 224 / 2006 Coll., Act No. 342 / 2006 Coll., Act No. 296 / 2009 Coll., Act No. 104 / 2008 Coll., Act No. 230 / 2008 Coll., Act No. 230 / 2008 Coll., Act No. 250 / 2008 Coll., Act No. 25 / 2008 Coll.
1. In footnote 40, the sentence "Article 22 (1) of Directive (EU) 2019 / 2034 of the European Parliament and of the Council of 27 November 2019 on the prudential supervision of investment firms and amending Directives 2002 / 87 / EC, 2009 / 65 / EC, 2011 / 61 / EU, 2013 / 36 / EU, 2014 / 59 / EU and 2014 / 65 / EU is added to the separate line. '.
2. In footnote 41, the sentence "Article 30, 35 and 42 of Regulation (EU) 2020 / 1503 of the European Parliament and of the Council of 7 October 2020 on European group finance service providers for undertakings and amending Regulation (EU) 2017 / 1129 and Directive 2019 / 1937 is added to the separate line. '.
3. in Paragraph 9b (1) (d), the word "or" shall be deleted;
4. In Paragraph 9b, at the end of paragraph 1, the dot is replaced by "or 'and the following point (f) is added:
"(f) in breach of Article 27, use the information referred to in Article 26 (1) for a purpose other than that specified."
5. in Article 9b (2) and (3), the words "or (f)" shall be inserted after the words "(e)."
6. In Article 13 (5), the words "the management and administration of investment funds and foreign investment funds and the marketing of investments in such funds' are deleted.
7. In footnote 43, the sentence "Regulations (EU) 2019 / 2033 of the European Parliament and of the Council of 27 November 2019 on prudential requirements for investment firms and amending Regulations (EU) No 1093 / 2010, (EU) No 575 / 2013, (EU) No 600 / 2014 and (EU) No 806 / 2014 is added to the separate line. ';
8. In footnote 33, at the end of the first to third sentences, the words "as amended 'shall be added.
9. In Article 26, at the end of paragraph 2, the dot is replaced by a comma and the following point (l) is added:
"(l) the supervisory authorities of payment and settlement systems."
10. In Article 26, at the end of paragraph 3, the sentence "In addition, disclosure of information to the European Commission and the European System of Central Banks shall not be granted where such information relates to the exercise of their powers."
11. In Article 26, at the end of paragraph 4, the sentence "The Czech National Bank may, when providing information, indicate how such information is to be handled and may also limit further provision of such information. '
12. in Paragraph 26 (9) (d), "a" is deleted;
13. In Paragraph 26, at the end of paragraph 9, the dot is replaced by a comma and the following points (f) and (g) are added:
"(f) the supervisory authority of persons active in the emission allowance markets in order to ensure a consolidated overview of financial and spot markets; and
(g) the supervisory authority of persons active on agricultural commodity derivatives markets in order to ensure a consolidated overview of financial and spot markets. "
14. Paragraph 27, including the title, reads:
Management of information
Persons other than the Czech National Bank who obtain the information referred to in Article 26 (1) shall use the information only for purposes which the Czech National Bank or any other authority expressly indicates, or for purposes resulting from specific legislation. ';
Amendment of the bond law
Act No. 190 / 2004 Coll., on Bonds, as amended by Act No. 378 / 2005 Coll., Act No. 56 / 2006 Coll., Act No. 57 / 2006 Coll., Act No. 296 / 2007 Coll., Act No. 230 / 2008 Coll., Act No. 227 / 2009 Coll., Act No. 172 / 2012 Coll., Act No. 227 / 2013 Coll., Act No. 303 / 2013 Coll., Act No. 137 / 2014 Coll., Act No. 183 / 2017 Coll., Act No. 307 / 2018 Coll., Act No. 277 / 2019 Coll.
1. In Article 1, the words "incorporating the relevant European Union Regulation 'shall be inserted after the words" the law'.
Footnote 1:
"(1) Directive (EU) 2019 / 2162 of the European Parliament and of the Council of 27 November 2019 on the issue of covered bonds and public supervision of covered bonds and amending Directives 2009 / 65 / EC and 2014 / 59 / EU. ';
2. In Article 15 (3), the words "including interest on the weighted average of the repos of the Czech National Bank for the period from the date of repayment 'are replaced by the words" unless otherwise stated in the terms of the issue conditions, plus the interest charged by the payment service provider that held the account for which the amount was repaid in relation to that amount'.
3. In Paragraph 28 (3), the second sentence is deleted.
4. In the second sentence of Paragraph 28a (1), the words "obligations under the first sentence 'are replaced by the words" obligations' and after the words "value ', the words" debts, with the exception of derivatives, shall be expressed in their nominal value plus accrued and unpaid income'.
5. in Article 28a (1) (b), "(e)" is replaced by "(d)";
6. In Article 28a (4), the words "from a mortgage credit 'are deleted.
7. In Article 28a, the following paragraph 5 is added:
"(5) For the purposes of paragraph 1, the expected amount of the related debts referred to in Article 31a (4) (a) to (c) and (e) shall also be included in the aggregate value of all debts, which shall be 1% of the nominal value of covered bonds in the covered block. ';
8. The following Sections 28aa and 28ab are inserted after Section 28a, including the headings and footnotes No 2 to 4:
Liquidity reserve of the cover portfolio
(1) The cover portfolio shall always contain a liquidity reserve consisting of the assets referred to in paragraph 3 available to cover the maximum cumulative net liquidity outflow from the covered block for the following 180 days.
(2) Net liquidity outflow means all outgoing payments due on a single day, including principal and interest payments and payments by derivatives in the covered block, minus all incoming payments due on the same day and related to assets in the cover portfolio.
(3) The liquidity reserve of the cover portfolio consists of the following types of assets entered in the cover asset register [Paragraph 32 (3) (a)]:
(a) Level 1, Level 2A or Level 2B assets as referred to in Article 10 to 12 of Commission Delegated Regulation (EU) 2015 / 612 which are valued in accordance with this Regulation and which have not been issued by
1. the issuer of the covered bonds concerned,
2. the parent undertaking of the issuer of the bonds concerned pursuant to Article 4 (1) (15) of Regulation (EU) No 575 / 20133 of the European Parliament and of the Council ("the controlling entity") other than a public sector entity which is not a credit institution pursuant to Article 4 (1) (1) of Regulation (EU) No 575 / 20133 of the European Parliament and of the Council ("the credit institution"),
3. a subsidiary of the issuer of the bonds concerned pursuant to Article 4 (1) (16) of Regulation (EU) No 575 / 20133 of the European Parliament and of the Council ("the controlled entity") or another controlled entity of its controlling person; or
4. a special purpose securitisation unit as referred to in Article 2 (2) of Regulation (EU) 2017 / 24024 with which the issuer has close links pursuant to Article 4 (1) (38) of Regulation (EU) No 575 / 20133 of the European Parliament and of the Council),
(b) short-term exposures to credit institutions belonging to credit quality step 1 or 2 or short-term deposits with credit institutions belonging to credit quality step 1, 2 or 3 as referred to in Article 129 (1) (c) of Regulation (EU) No 575 / 20133 of the European Parliament and of the Council.
(4) The liquidity reserve of the cover pool shall not include claims on exposures deemed to be defaulted in accordance with Article 178 of Regulation (EU) No 575 / 20133 of the European Parliament and of the Council.
(5) Where the covered bond issuer is subject to liquidity requirements set out in the directly applicable European Union rules which overlap with the liquidity reserve of the cover portfolio, paragraphs 1 to 4 shall not apply for the period specified in those directly applicable European Union rules.
(6) The credit quality step is the credit quality step according to Chapter 2 of Title II of Part Three of Regulation (EU) No 575 / 20133 of the European Parliament and of the Council.
Extended maturity structures
(1) The structure of the renewable maturity is a mechanism enabling the planned maturity of covered bonds to be extended by a predetermined period in the event of a specific event set out in the emission conditions in accordance with this Act.
(2) Covered bonds may be issued with extensible maturity structures provided that investor protection is guaranteed in at least the following ways:
(a) the maturity of covered bonds shall be extended only if at the date of their maturity or at another date specified in the emission conditions;
1. The issuer or the forced bloc administrator shall not pay up all covered bonds of the given issue;
2. Some of the situations referred to in § 32a (1) (a) to (d) have occurred,
3. resolution measures have been taken against the issuer or write-offs or conversions of depreciable capital instruments and intra-group eligible liabilities under the financial market law governing recovery and resolution;
4. Any of the legal events referred to in Article 54 (1) (a) (i) or (ii) of Regulation (EU) No 575 / 20133 of the European Parliament and of the Council have occurred; or
5. the issuer fails to comply with the liquidity reserve requirements in accordance with § 28aa or, as a result of the repayment of the issue, would not comply with the liquidity requirements laid down in the directly applicable European Union rules;
(b) information on the maturity structure provided to investors sufficiently enable the risk of the covered bond to be identified and includes a detailed description of:
1. events leading to the extension of the maturity of covered bonds of the issue;
2. the consequences of bankruptcy or resolution of the issuer of covered bonds for the extension of maturity; and
3. the role of the Czech National Bank and the forced trustee of covered blocks in relation to the extension of maturity; and
(c) the final maturity date of the covered bond may always be determined.
(3) In the event of a bankruptcy or resolution of a covered bond issuer, the extension of maturity shall not affect the ranking of the covered bond holders or shall not change the order of maturity of the covered bonds according to the original maturity schedule of the covered bonds.
(4) The issuer or the obligor of the covered bonds shall notify the holders of covered bonds of the fact that the maturity of the covered bonds is extended in accordance with the emission conditions and within the time limits set out in the emission conditions.
(5) The extension does not change the structural characteristics of covered bonds and covered bonds.
(2) Commission Delegated Regulation (EU) 2015 / 61 of 10 October 2014 supplementing Regulation (EU) No 575 / 2013 of the European Parliament and of the Council as regards the liquidity coverage requirement for credit institutions, as amended.
(3) Regulation (EU) No 575 / 2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and amending Regulation (EU) No 648 / 2012, as amended.
(4) Regulation (EU) 2017 / 2402 of the European Parliament and of the Council of 12 December 2017 establishing a general framework for securitisation and establishing a specific framework for simple, transparent and standardised securitisation and amending Directives 2009 / 65 / EC, 2009 / 138 / EC, 2011 / 61 / EU and Regulations (EC) No 1060 / 2009 and (EU) No 648 / 2012. ';
9. In Article 28b, at the end of paragraph 2, the sentence "If the obligation under Paragraph 28a (2) is fulfilled mainly with the use of cover assets pursuant to § 31 (2) (b) and (c), the limit under Paragraph 28a (1) shall be increased to 110%. '
10. In Section 28c, the words "and the rules for the designation of covered bonds' are added.
11. in Article 28c, the sentence "Only covered bonds may contain the designation" European covered bond "or its translation into the official language of the European Union shall be added at the end of paragraph 1."
12. in the first sentence of Article 28c (2), the words "or the European covered bond (premium)" or its translation into the official language of the European Union "shall be inserted after the words" CFR ";
13. in Article 28c (2), the words "or the European covered bond (premium)" or its translation into the official language of the European Union "shall be added at the end of the second sentence.
14. § 28d, including the title reads:
Information for investors
(1) The covered bond issuer provides sufficient detailed information on its covered blocks so that investors can assess the profile and risks of the covered block and exercise due diligence.
(2) Information is provided by the issuer of covered bonds to investors at least once per calendar quarter and includes at least the following portfolio data:
(a) the value of the cover portfolio and outstanding covered bonds;
(b) the list of identification marks under the international numbering system for the identification of securities (ISIN) for all covered bond issues within the covered block to which the identification mark has been assigned;
(c) the geographical distribution and the type of cover assets, the size of the loans concerned and the valuation method;
(d) data relating to market risk, including interest rate and currency risk, and credit and liquidity risks;
(e) the maturity structure of the cover assets and covered bonds, including, where relevant, an overview of the events relevant for the extension of the maturity;
(f) the level of required and available cover and legal, contractual and voluntary overcollateralisation; and
(g) the percentage of loans deemed to have been defaulted in accordance with Article 178 of Regulation (EU) No 575 / 20133 of the European Parliament and of the Council, including loans more than 90 days after maturity.
(3) The issuer of covered bonds publishes the information provided to investors pursuant to paragraph 1 on its website. "
15. in Paragraph 29, the following paragraph 4 is added:
"(4) The pledge value of the immovable property pledged must be determined by a person who has the necessary qualifications, abilities and experience and is independent of the credit decision-making process. In assessing the value, that person shall not take into account speculative elements and shall document the value in a transparent and unambiguous manner. ';
16. In the last sentence of Paragraph 30 (1), the words "and 2 'are inserted after the number" 1'.
17. in Article 30d, the following paragraphs 3 to 5 are added:
"(3) The covered bond issuer must be authorised by the Czech National Bank at the latest on the issue date and throughout the period of issue of covered bonds. This authorisation shall be granted for each covered block.
(4) The Czech National Bank shall grant authorisation if the following conditions are met:
(a) the business plan defines and covers the issue of covered bonds;
(b) policies, processes and methodologies for the approval, modification, renewal and refinancing of loans or other cover assets included in the cover portfolio provide sufficient protection for investors;
(c) managers and other covered block personnel with adequate qualifications and knowledge in the field of issuing covered bonds and administering covered blocks are designated;
(d) the organisational arrangements and monitoring of the cover portfolio meet the requirements of this Act; and
(e) the emission conditions comply with the requirements of this Act.
(5) The Czech National Bank may withdraw the authorisation if:
(a) was granted on the basis of false, misleading or incomplete data;
(b) the conditions for granting it have ceased to be fulfilled; or
(c) the issuer of covered bonds has repeatedly or seriously infringed its obligations under this law. "
18. In Article 31 (1), the words "the issuer of covered bonds shall comply with the conditions laid down in Article 129 (1a) to (3) of Regulation (EU) No 575 / 20133 of the European Parliament and of the Council" shall be inserted after the words "where";
19. in Article 31 (2) (b), the words "the Member State of the Organisation for Economic Cooperation and Development, the central bank of that State, the multilateral development bank or the international organisation of which the Member State of the Organisation for Economic Cooperation is a member" shall be replaced by the words "a person controlled by a public authority under a law governing certain measures for the transparency of financial relations in the field of public aid (" the public undertaking ")."
20. in Article 31 (2) (c), the words "the Member State of the Organisation for Economic Cooperation and Development, the central bank of that State, the multilateral development bank or the international organisation of which the Member State of the Organisation for Economic Cooperation" are replaced by the words "a public undertaking."
21. in Article 31 (2) (d), the words "and other assets referred to in Article 28aa (3)" shall be inserted after the words "funds."
22. In Article 31, the words "where the other Contracting Party is a financial counterparty pursuant to Article 2 (8) of Regulation (EU) No 648 / 20128 of the European Parliament and of the Council 'shall be added at the end of the text of paragraph 3, it shall be assigned at least a credit quality step 3 and the negotiation of the derivative shall be duly documented'.
footnote 8:
"(8) Regulation (EU) No 648 / 2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, central counterparties and trade repositories, as amended.";
23. in Paragraph 31 (4), the words "unless otherwise specified by the emission conditions" shall be added at the end of the text of point (c).
24. in Article 31 (4) (e), the words "or funds obtained as proceeds from the redemption of cover assets under Article 32e (4) or Article 32f (1)" shall be inserted after the word "her."
25. In Article 31, paragraphs 6 to 8 are added:
Contents
ČÁST PRVNÍ
Čl. I
㤠5p
ČÁST DRUHÁ
Čl. II
ČÁST TŘETÍ
Čl. III
㤠27
ČÁST ČTVRTÁ
Čl. IV
㤠28aa
§ 28ab
㤠28d
㤠32f
„Díl 3
§ 32g
§ 32h
§ 32i
§ 32j
Čl. V
ČÁST PÁTÁ
Čl. VI
㤠5a
㤠6b
§ 6c
§ 6d
§ 6e
㤠8a
㤠9a
㤠10aa
„Oddíl 1
§ 11a
㤠12
§ 12a
㤠12aa
§ 12ab
§ 12ac
§ 12ad
§ 12ae
㤠12f
§ 12g
§ 12h
㤠12j
㤠12k
§ 12l
§ 12m
㤠15ca
㤠15da
㤠16a
§ 16b
„ČÁST OSMÁ
§ 90h
§ 90i
§ 90j
„ČÁST DESÁTÁ
§ 115a
§ 115b
§ 115c
§ 115d
§ 115e
§ 115f
§ 115g
§ 115h
㤠118
§ 119
㤠134b
㤠134f
㤠135a
§ 135b
§ 135c
㤠137a
§ 137b
§ 137c
㤠149ga
§ 149gb
„HLAVA II
§ 150
§ 151
§ 152
§ 153
§ 154
§ 155
§ 155a
§ 155b
§ 155c
㤠158a
㤠161c
㤠163a
㤠173
㤠184
§ 185
㤠192b
㤠204d
ČÁST ŠESTÁ
Čl. VII
ČÁST SEDMÁ
Čl. VIII
ČÁST OSMÁ
Čl. IX
ČÁST DEVÁTÁ
Čl. X
㤠20ba
ČÁST DESÁTÁ
Čl. XI
㤠8
㤠109aa
㤠121
ČÁST JEDENÁCTÁ
Čl. XII
ČÁST DVANÁCTÁ
Čl. XIII
㤠18a
§ 18b
ČÁST TŘINÁCTÁ
Čl. XIV
㤠297a
§ 297b
§ 297c
㤠304a
㤠306
㤠314
㤠314a
㤠315a
Čl. XV
ČÁST ČTRNÁCTÁ
Čl. XVI
ČÁST PATNÁCTÁ
Čl. XVII
ČÁST ŠESTNÁCTÁ
Čl. XVIII
ČÁST SEDMNÁCTÁ
Čl. XIX
ČÁST OSMNÁCTÁ
Čl. XX
ČÁST DEVATENÁCTÁ
Čl. XXI
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Regulation Information
| Citation | Act No. 96 / 2022 Coll., amending certain laws in the field of the financial market in particular in the context of the implementation of European Union rules on the Union of Capital Markets |
|---|---|
| Regulation Type | Law |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 29.04.2022 |
|---|---|
| Effective from | 29.05.2022 |
| Effective until | - |
| Status | Valid |
Parliamentary Paper:
Paper No. 95
The regulation text is for informational purposes only.
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