Decree No. 425/2012 Coll. on the Submission of Information by Pension Companies to the Czech National Bank

425

DECREE of 12 November 2012 on the submission of information by pension companies to the Czech National Bank

The Czech National Bank, pursuant to Section 110(1) of Act No. 426/2011 Coll., on pension savings, for the implementation of Section 69(4) of that Act, pursuant to Section 170(1) of Act No. 427/2011 Coll., on supplementary pension savings, for the implementation of Section 119(4) of that Act, and pursuant to Section 41(4) of Act No. 6/1993 Coll., on the Czech National Bank, as amended by Act No. 57/2006 Coll., has determined:

Section 1 Subject Matter This Decree establishes the scope, structure, form, periodicity, deadlines, and method of sending information by pension companies to the Czech National Bank.

Section 2 Definition of Terms For the purposes of this Decree, the following terms shall be understood as: a) managed fund means a retirement fund, a participant fund, and a transformed fund managed by a pension company; b) data set means a grouping of data with predefined data structures, which are methodologically described, processed, and transmitted as a whole by an information system; c) security mark means data in electronic form attached to a data message that meets the following requirements:

1. they are uniquely linked to the identifying person and allow their identification through an issued certificate;
2. they were created and attached to the data message using means for creating security marks that the identifying person can keep under their exclusive control; and
3. they are attached to the data message to which they relate in such a way that any subsequent change to the data can be detected.

Section 3 Overview of Submitted Reports (1) The pension company prepares and submits: a) as of the last day of the calendar month and within 20 days after the end of the calendar month to which they relate, the following reports:

1. PSP (ČNB) 10-12 "Monthly Balance Sheet of the Pension Company/Fund",
2. PSP (ČNB) 20-12 "Monthly Income Statement of the Pension Company/Fund"; and
3. PSP (ČNB) 30-12 "Report on the Retirement/Pension Unit"; b) as of the last day of the calendar quarter and within 30 days after the end of the calendar quarter to which they relate, the following reports:
4. PSP (ČNB) 50-04 "Report on the Organizational Structure of the Pension Company";
5. PSP (ČNB) 31-04 "Report on Funds Received and Paid Out by the Pension Company"; and
6. PSP (ČNB) 32-04 "Report on the Capital and Capital Requirements of the Pension Company".

(2) The pension company further prepares individually for each managed fund as of the last day of the calendar month and submits within 20 days after the end of the calendar month to which they relate, the following reports: a) PSP (ČNB) 10-12 "Monthly Balance Sheet of the Pension Company/Fund"; b) PSP (ČNB) 20-12 "Monthly Income Statement of the Pension Company/Fund"; and c) PSP (ČNB) 34-12 "Report on the Composition of the Portfolio of the Managed Fund".

Section 4 Common Provisions for Preparing Reports (1) The content of the reports under Section 3 is set out in the Annex to this Decree. Reports are prepared based on the status at the end of the period to which they relate, unless otherwise stated in the Annex. (2) In preparing the submitted reports, the pension company shall proceed with regard to their nature in accordance with legal regulations governing the keeping of accounting records and the preparation of financial statements1) or with international accounting standards regulated by European Union law2). (3) The pension company shall convert data expressed in foreign currency, if required, into data expressed in Czech currency using the foreign exchange market rate published by the Czech National Bank and valid on the date of preparation of the report. Currencies not included in the foreign exchange market rates published by the Czech National Bank shall be converted using the official central bank middle rate of the respective country or, alternatively, the current interbank market rate against the US dollar or the euro. (4) The pension company shall value assets and liabilities based on the status as of the date of preparation of the report.

Section 5 Additional Information Submitted to the Czech National Bank (1) The pension company shall submit annual reports pursuant to the legal regulation governing accounting for itself and for each managed fund in electronic form prescribed by the legal regulation on the digitalization of the commercial register3). The annual report in electronic form signed with a recognized electronic signature4) shall be submitted to the electronic address of the Czech National Bank's registry office or via a public data network to a data box5). (2) If the size of the data message does not allow sending by electronic mail or via a data box, the pension company shall send the annual report referred to in paragraph 1 in electronic form on a technical data carrier to the address of the Czech National Bank.

Section 6 Method and Form of Submitting Reports (1) The pension company shall send the reports under Section 3 to the Czech National Bank in electronic form as data messages and in the structure and form of data sets, which are available through: a) the software application of the Czech National Bank for collecting data from non-bank entities (SDNS), which is available via remote access; b) the pension company's own software application enabling electronic information exchange (EDI/EDIFACT); or c) the pension company's own software application using web services of the Czech National Bank for data collection (SDNS-WS) for the submission of reports. (2) Data messages sent via the software applications referred to in paragraph 1 letters a) and c) shall be signed by the contact person with a recognized electronic signature. (3) Data messages sent via the software application referred to in paragraph 1 letter b) shall be marked by the pension company with a security mark based on a certificate issued by the Czech National Bank.

Section 7 Corrections and Changes in Reports (1) If an error is discovered or a change is made to the data in a report after submission to the Czech National Bank, the pension company shall resubmit the report with corrected data to the Czech National Bank without undue delay. If the correction affects data in other reports or reports for other time periods, the pension company shall also correct all these subsequent reports. (2) If a change to a reported data item occurs in a report prepared as of the last day of the calendar year based on an audit of the financial statements, the pension company shall resubmit the report with corrected data no later than 20 days after the audit of the financial statements. If the correction affects data in another report or reports for other time periods, the pension company shall also correct all these subsequent reports. (3) The pension company shall submit corrected reports within the deadline under paragraph 1 or 2 to the Czech National Bank in the manner specified in Section 6, together with information on the content and reason for the correction.

Section 8 Ensuring Organizational Prerequisites for Submitting Reports (1) The pension company, which prepares and submits reports to the Czech National Bank using the application referred to in Section 6(1)(a) or (c), shall inform the Czech National Bank of: a) the first name(s) and surname of the contact persons; b) the address of the workplace, telephone number, and email address of these persons; and c) the number of the qualified certificate, including the name and identification number of the person of the certification service provider who issued it. (2) The pension company shall inform the Czech National Bank without undue delay of any changes to the data referred to in paragraph 1.

Section 9 Transitional Provisions (1) The pension company shall prepare as of the date of entry into force of this Decree and submit within 20 days from the entry into force of this Decree the report PSP (ČNB) 10-12 "Monthly Balance Sheet of the Pension Company/Fund" for itself and for the managed transformed fund. (2) For the obligation to prepare and submit reports or information relating to periods up to 31 December 2012, Decree No. 302/2010 Coll. shall apply.

Section 10 Repeal Provision Decree No. 302/2010 Coll., on the submission of reports and other information by pension funds to the Czech National Bank for supervisory purposes, is repealed.

Section 11 Entry into Force This Decree shall enter into force on 1 January 2013.

Governor: Ing. Singer, Ph.D., in r.

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1. Act No. 563/1991 Coll., on Accounting, as amended by subsequent regulations. Decree No. 501/2002 Coll., implementing certain provisions of Act No. 563/1991 Coll., on Accounting, as amended by subsequent regulations, for accounting entities that are banks and other financial institutions, as amended by subsequent regulations.
2. Article 2 of Regulation (EC) No. 1606/2002 of the European Parliament and of the Council of 19 July 2002 on the application of international accounting standards.
3. Section 2 of Decree No. 562/2006 Coll., establishing the method of converting documents into electronic form, the handling of converted documents, and the mandatory electronic form of documents (Decree on the digitalization of the commercial register).
4. Section 11(3) of Act No. 227/2000 Coll., on the Electronic Signature and Amending Certain Other Laws (Act on the Electronic Signature), as amended by Act No. 167/2012 Coll.
5. Act No. 300/2008 Coll., on Electronic Acts and Authorized Conversion of Documents, as amended by subsequent regulations.