Decree No. 250/2013 Coll. amending Decree No. 347/2006 Coll. on certain provisions of the Act on Financial Conglomerates

250 DECREES of 25 July 2013, amending Decree No. 347/2006 Coll., implementing certain provisions of the Act on Financial Conglomerates

The Czech National Bank, pursuant to Section 34 of Act No. 377/2005 Coll., on supplementary supervision of banks, savings and loan cooperatives, electronic money institutions, insurance companies and securities dealers in financial conglomerates and amending certain other laws (the Act on Financial Conglomerates), as amended by Act No. 228/2013 Coll., has determined:

Article I

Decree No. 347/2006 Coll., implementing certain provisions of the Act on Financial Conglomerates, is amended as follows:

1. In Section 1(d) and Section 15(1), the word „zkušenosti“ (experience) is replaced by the word „způsobilosti“ (competence).

2. In Section 2(a), the word „angažovaností“ (engagement) is replaced by the word „expozicí“ (exposure).

3. In Section 2(b), the word „angažovanost“ (engagement) is replaced by the word „expozici“ (exposure).

4. In Section 3(1), the words „až 8“ (up to 8) are replaced by the words „a 7“ (and 7).

5. In Section 5(1), the words „písm. d)“ (letter d)) are replaced by the words „písm. c)“ (letter c)).

6. Section 8, including its heading, is repealed.

7. In Section 9(a), the introductory part of Section 10(3), Section 10(3)(b), and Annex No. 4 point 3(a) to (d), the word „angažovanosti“ (engagement) is replaced by the word „expozice“ (exposure).

8. The heading of Section 10 reads „Large Exposures“.

9. In the introductory part of Section 10(1), Section 10(1)(b) to (d), and Section 10(2), the word „angažovanost“ (engagement) is replaced by the word „expozice“ (exposure).

10. In the introductory part of Section 10(1), Section 10(1)(b) to (d), Section 10(4) and (5), and Annex No. 4 point 3(a) and (b), the word „angažovaností“ (engagement) is replaced by the word „expozic“ (exposures).

11. In Section 10(3)(b), the words „metodou odpočtu účetní hodnoty a kapitálových požadavků“ (by the method of deducting book value and capital requirements) are repealed.

12. In Section 10(3)(b), the words „písm. d)“ (letter d)) are replaced by the words „písm. c)“ (letter c)).

13. In Section 10(4), the word „angažovanosti“ (engagement) is replaced by the word „expozicím“ (exposures).

14. In Section 10(5), the word „angažovanosti“ (engagement) is replaced by the word „expozic“ (exposures).

15. In Section 15(2)(f), the word „zkušenosti“ (experience) is replaced by the word „způsobilosti“ (competence).

16. In Annex No. 4 point 1(b) and the introductory part of point 3, the word „angažovanostech“ (engagements) is replaced by the word „expozicích“ (exposures).

Article II

Entry into Force

This decree shall enter into force on 1 October 2013.

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

Collection of Laws No. 250 / 2013 Page 2636 Part 96