Decree No. 307 / 2016 Coll.
Order on applications under the Insurance Act
Valid
Order
Effective from 23.09.2016
Text versions:
01.07.2025
23.09.2016
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307
DECLARATION
of 8 September 2016
on applications under the Insurance Act
The Czech National Bank, pursuant to § 136 (1) of Act No. 277 / 2009 Coll., on Insurance, as amended by Act No. 304 / 2016 Coll., for implementation of § 13 (5), § 19 (3), § 24 (3), § 32 (4), § 34a (3), § 36 (5), § 40 (1), § 42 (3), § 47 (2), § 104 (6), § 107 (6) and § 122 (2) thereof:
Subject matter
This decree sets out the details of applications, formats and other technical details of applications pursuant to Act No. 277 / 2009 Coll., on Insurance, as amended, ("the Act ').
Definition of terms
For the purposes of this decree:
(a) a full extract of the business records or other records containing the information up to date at the time of the application and, where applicable, information on the application for registration in the relevant register which was not made at the date of the application and a document authorising the performance of another activity, if it is issued;
(b) evidence to assess the integrity of the proof of integrity referred to in Article 11 (2) to (6) of the Act and a declaration containing information enabling the measure to be taken to extract from the Register of Penalties, and data on the activities of a natural or legal person in the last 10 years, in particular on:
1. the imposition of penalties for administrative misconduct;
2. bankruptcy or rejection of insolvency proceedings for lack of assets;
3. suspension or withdrawal of an authorisation for business or other activity, unless it has taken place at the request of a person holding such an authorisation;
4. refusal of the consent of a court or administrative authority to choose, appoint or make provision for the office or acquisition of a qualified participation or to control a person, where such consent has been required;
5. exclusion from the professional chamber, association or association of persons working in the financial market;
(c) a document relating to the acquisition of a qualifying holding of a declaration by a person intending to acquire or increase a qualifying holding in a domestic insurance undertaking or a domestic reinsurance undertaking, whether
1. acquire shares in its own name and on its own account;
2. exercise or exercise voting rights for the benefit of a third party;
3. intends to transfer the voting rights to another person on the basis of a legal act or arrangement;
4. there is or is to be a fact on the basis of which it is or becomes a person controlled;
5. act in accordance with another person to whom the exercise of voting rights has been transferred or who has a significant influence on the management of a domestic insurance undertaking or a domestic reinsurance undertaking;
6. has debts exceeding 5% of the equity or assets or which may have an effect of that amount;
(d) financial statements
1. the annual reports and accounts for the last 3 financial years or for the period during which the person carries out the business if that period is less than 3 financial years; where the person is part of the consolidation unit, also consolidated annual reports and financial statements for the same period; if, under the Accounting Act, the accounts are to be audited by the auditor, the accounts shall be presented by the auditor;
2. evidence of income for the last 3 years, assets and debts, if any, if any,
(e) the identification details of the person referred to in Article 3 (1) (v) of the Act, stating that the natural person and the legal person involved also provide the identification number of the person, if assigned;
(f) the strategic purpose of the intention of the person seeking or controlling the acquisition or increase of qualifying holdings in the domestic insurance undertaking or in the domestic reinsurance undertaking
1. the period during which qualifying holdings are to be held or the period during which the domestic insurance or reinsurance undertaking is to be controlled;
2. anticipated changes to the level of qualifying participation in the short and long term;
3. the estimated extent of its involvement in the management of the domestic insurance or reinsurance undertaking,
4. aid to domestic insurance undertakings or domestic reinsurance undertakings by additional own resources, if necessary for the development of activities or for dealing with deteriorating financial situations;
5. agreements with other partners,
6. expected changes in the activities of the domestic insurance or reinsurance undertaking, how to finance further development, including the distribution policy of dividends, the management and control system, the anticipated changes of persons with a key function, strategic development and the distribution of funds, where the qualifying holding exceeds 20% of the share of capital or voting rights;
(g) data on persons with close links
1. identification data of persons with close links, indicating whether it is a foreign person who is to be authorised by a supervisory authority of another Member State to act as a bank, electronic money institution, insurance undertaking, reinsurance undertaking, investment firm or investment service provider or another entity having an activity subject to an authorisation by that authority or being a controlling person of that person;
2. a description of the structure of the group and the way in which it is connected with the graphic representation of the relationships between each closely connected person;
3. Communication that the effective exercise of supervision in insurance under the law does not prevent close links between a domestic insurance undertaking or a domestic reinsurance undertaking and other persons, the legislation of a third State governing one or more persons with close links or the difficulty of enforceability of law in that third State,
(h) data on professional experience
1. type of professional experience;
2. identification details of the person to whom the professional experience is or has been carried out;
3. an indication of the employment classification and, in the event of the importance of the practice for financial market activity, a description of the activity carried out, indicating the extent of the powers and responsibilities associated with that activity and the number of persons managed;
4. the definition of the duration of the activity referred to in point 3;
5. consent to the performance of a work assignment required by other legislation, where necessary;
(i) data on education
1. the name and type or type of educational institution, the study programme, the focus of the study programme, the duration of the study programme, the manner and date of completion of the study, and, where appropriate, the titles obtained,
2. an overview of courses, traineeships and study visits of interest in the financial market, indicating the year of their completion, their focus, duration and, where appropriate, the titles obtained.
Authorisation to pursue insurance activities by a domestic insurance company
(1) The requirements of the application for authorisation to carry out insurance activities by the national insurance undertaking are data, documents and documents relating to the applicant, scope and security of activities, persons with a key function and persons with a qualifying holding.
(2) The requirements of the application referred to in paragraph 1 relating to the applicant to whom the national insurance undertaking is established and the scope and security of the activities to be carried out by the applicant shall be:
(a) statutes;
(b) an indication of the amount of the capital, a proof of repayment of the capital at least in accordance with Article 18 of the Act and documents proving the origin of the capital and other financial resources;
(c) a business plan pursuant to Article 15 of the Act and, if a reinsurance activity is to be carried out, also under Article 37 of the Act, indicating the type of reinsurance activity under Article 36 (1) of the Act;
(d) a description of the management and control system within the scope of Section 7 of the Act;
(e) a list of the persons proposed to be a claims representative, indicating their identification data and the Member State in which the claims representative will operate, if insurance is to be carried out according to the insurance sector referred to in point (10) (a) of Part B of Annex 1 to the Act;
(f) a statement by the applicant that the person to provide actuarial activities complies with the requirements of Section 7f (2) of the Act;
(g) details of persons closely linked to the applicant; and
h) a description of the personnel, technical and organisational security of the operation based on the expected range of activities and business plan, which always includes the expected number of employees divided into the relevant organisational departments, a description of the information system, the accounting system and the system for submitting information to the Czech National Bank.
(3) The requirements of the application referred to in paragraph 1 relating to persons with a key function shall be:
(a) a list of persons with a key function and their identification data;
(b) a description of the function to which the person listed under (a) is proposed, indicating the powers and responsibilities associated with that function and the graphical representation of the function in the organisational structure; and
(c) the report of the applicant on the results of the assessment of the suitability of a person with a key function listed in point (a) for the performance of the function to which it is proposed, with regard to the assessment of compliance with the requirements of the credibility and competence of that person under the directly applicable European Union Regulation supplementing Directive 2009 / 138 / EC of the European Parliament and of the Council), to which the applicant shall attach all the information and documents on the basis of which the assessment of the suitability of the person has been carried out.
(4) The particulars of the application referred to in paragraph 1 relating to persons having qualified participation in the applicant shall be:
(a) a list of persons having a qualifying participation in the applicant and persons who have a qualifying participation in the applicant by acting in agreement with another person, indicating their identification details, the graphically displayed relationship between those persons and the amount of the qualifying participation in the capital or voting rights expressed in percentage and absolute value, or the indication and description of a different form of application of a significant influence on the management of the applicant, and, for persons acting in agreement, a description of the fact on the basis of which the action takes place and, in the case of a person subject to the supervision of a body of a State other than the Czech Republic, the indication of that supervisory authority;
(b) a list of persons who are members of an elected body of a legal person or of an undertaking natural person listed under point (a), indicating their identification details and a description of the function performed;
(c) for each person listed under (a):
1. proof of the business authorisation, if any,
2. a document related to the acquisition of a qualifying holding;
3. an overview of the previous and current membership of a person in the elected bodies of other legal entities over the last 10 years containing the identification data of another legal person, function and term of office in another legal person; where the person with a qualified participation in the applicant is a legal person, he shall indicate this information for the persons listed under point (b);
4. an overview of relations with persons with a key function in a domestic insurance undertaking and a member of an elected body of a legal person who controls a domestic insurance undertaking or who is controlled by a domestic insurance undertaking; and
5. financial statements,
(d) for each person listed in the lists referred to in points (a) and (b), evidence of credibility assessment; and
(e) the opinion of the authority which exercises supervision of the legal person listed in point (a) in the country of its registered office on the intention of that person to participate in the activities of a domestic insurance undertaking in the Czech Republic, if the person qualified to participate in the applicant is a legal person having its registered office outside the territory of the Member State to which such supervision is exercised in the country of its registered office.
Authorisation to pursue reinsurance activities by a domestic reinsurance undertaking
For the purposes of this application, a domestic reinsurance undertaking shall be deemed to be in compliance with Article 3 (2) to (4). Where an insurance undertaking is indicated, it shall be understood that the content of the business plan referred to in Article 3 (2) (c) is governed by Article 37 of the Act, the requirement for the amount of the paid-up capital is governed by Article 39 of the law and the document referred to in Article 3 (2) (e) shall not be attached to the application.
Authorisation to pursue insurance activities by an insurance undertaking from a third State
(1) The details, documents and documents of the applicant, the extent and the security of the branch's activities in the Czech Republic and the person proposed to the head of the branch are the formalities for the application for authorisation to carry out the insurance business by an insurance undertaking from a third country through its branch in the Czech Republic.
(2) The particulars of the application referred to in paragraph 1 concerning the applicant shall be:
(a) statutes or other similar document;
(b) evidence of an authorisation to carry out business and identification of the person who may act for the applicant and the scope and manner of such action, unless it is clear from the document of the business authorisation;
(c) an authorisation for the activity of an applicant issued by a competent authority of a third State, indicating the scope of the activity authorised, if this is not apparent from the document of the business authorisation;
(d) the decision of the competent authority of the applicant on the intention to establish a branch in the Czech Republic, indicating the amount of the financial resources allocated to that branch and the evidence of their origin;
(e) audited financial statements;
(f) evidence of compliance with the applicant's Solvency Capital Requirement under the rules in force in the State of its registered office for the last three years, including an analysis of the differences between those rules and the Solvency Capital Requirement under the law;
(g) details of persons closely linked to the applicant;
(h) internal rules governing the management of branches in the territory of another State;
(i) the opinion of the supervisory authority of the State of the applicant's registered office on the intention of that person to establish a branch in the Czech Republic; and
(j) the identification details of the supervisory authority of a Member State which will supervise compliance with the solvency conditions of an insurance undertaking from a third State and the justification for the choice of that supervisory authority where an advantage has been or is to be approved under Article 35 of the Act.
(3) The requirements of the application referred to in paragraph 1 relating to the scope and security of the branch's activities in the Czech Republic shall be:
(a) details of the branch designation in the Czech Republic, the address of its location, if known, and details of the application for registration of the branch;
(b) the business plan of the branch under Section 34 of the Act and, if the reinsurance activity is to be carried out, also under Section 37 of the Act indicating the type of reinsurance activity under Section 48 (2) of the Act;
(c) a contract establishing an account with a bank established in the Czech Republic or a branch of a foreign bank located in the Czech Republic, from which it will be clear that the account cannot be handled without the consent of the Czech National Bank,
(d) proof that the financial resources of at least one quarter of the assets the value of which meets the requirement under Paragraph 32 (6) (e) of the Act have been placed as a principal in the account referred to in (c), proof of origin of those financial resources and indication of how they are transferred to that account;
(e) a statement by the applicant which undertakes to cover the Solvency Capital Requirement under Section 73 of the Act and the Minimum Capital Requirement under Sections 79 and 79a of the Act to ensure that activities carried out in the Czech Republic are carried out;
f) a description of the management and control system within the scope of § 7 of the Act, taking into account § 7j of the Act,
(g) a description of the personnel, technical and organisational security of the operation based on the expected scope of the activities and business plan of the branch, which always includes the expected number of employees and a description of the information system, accounting system and system for the submission of information to the Czech National Bank;
(h) a list of the persons proposed to be a claims representative, indicating their identification details and the Member State in which the claims representative will be entrusted with the treatment of insurance claims if insurance is to be carried out according to the insurance sector referred to in point (10) (a) of Part B of Annex 1 to the Act; and
(i) a statement by the applicant that the person to provide actuarial activities complies with the requirements of Section 7f (2) of the Act.
(4) The details of the application referred to in paragraph 1 concerning the person proposed to the head of the branch shall be:
(a) identification details of the branch manager;
(b) evidence of credibility assessment;
(c) information on education and information on professional practice and evidence confirming that fact;
(d) a summary of membership of elected bodies of other legal entities over the last 10 years containing the identification details of another legal entity, the name of the office and the term of office;
(e) a list of the functions in the elected bodies of other legal persons that the latter intends to perform in parallel with the function of head of branch, containing the identification details of the legal person in which the function is to be performed and the name of the function indicating whether the function is an executive or non-executive member; and
(f) a brief description of the performance of the function of the head of the branch in terms of the powers and responsibilities conferred.
Authorisation to conduct reinsurance activities by a third-State reinsurance undertaking
For the purposes of this application, a reinsurance undertaking from a third State through its branch in the Czech Republic is required to apply for authorisation to carry out reinsurance activities through its branch within the territory of the Czech Republic to comply with the requirements laid down in § 5 (2) to (4); where an insurance undertaking from a third State is indicated for the purposes of this request, the reinsurance undertaking from a third State, with the fact that the content of the reinsurance branch's business plan pursuant to § 5 (3) (b) is governed by § 37 of the Act, the Annexes referred to in § 5 (3) (d) concerning the amount of assets and the financial resources to be entered as a security at a bank or branch of a foreign bank, Article 48 (1) (e) of the law and the data and the documents referred to Article 5 (2) and (h) are not to the application.
Change in the scope of permitted activities of domestic insurance undertakings
The formalities for requesting a change in the scope of the authorised activity of a domestic insurance company are:
(a) the indication of the insurance activity referred to in Annex 1 to the law or type of reinsurance activity referred to in Section 36 (1) of the Act to be amended;
(b) the adjusted business plan referred to in Article 3 (2) (c), incorporating the required change in the scope of the activity with a comment on the data in the business plan related to the change in scope of the activity;
(c) proof of origin of the financial resources used to increase capital if they are involved in a change in the scope of the activity authorised to increase it;
d) a description of the modified concept of the management and control system in accordance with Section 7 of the Act with the incorporation of the required change in the scope of the activity with a comment on the proposed changes to the management and control system;
(e) a list of the persons proposed to be a claims representative, indicating their identification details and the Member State in which the claims representative will operate if insurance is to be reoperated according to the insurance sector referred to in point (10) (a) of Part B of Annex 1 to the Act; and
(f) a description of the personnel, technical and organisational security of the operation of the insurance undertaking following a change in the scope of the activity, in accordance with Article 3 (2) (h).
Change in the scope of the authorised activity of the domestic reinsurance undertaking
The requirements of the application to change the scope of the authorised activity of the domestic reinsurance undertaking are:
(a) an indication of the type of reinsurance activity under Paragraph 36 (1) of the Act to be amended;
(b) an amended business plan pursuant to Section 37 of the Act, incorporating the required change in the scope of the activity with a comment on the information contained in the business plan relating to the change in scope of the activity;
(c) proof of origin of the resources used to increase capital if they are involved in a change in the scope of the activity authorised to increase it;
(d) a description of the modified concept of the management and control system in accordance with Section 7 of the Act, incorporating the required change in the scope of the activity with comments on the proposed changes to the management and control system; and
(e) a description of the personnel, technical and organisational security of the business of the reinsurance undertaking after a change in the scope of the activity, in accordance with Article 3 (2) (h).
Change in the scope of the authorised activity of a branch of an insurance undertaking from a third State
The requirements of the request to change the scope of the authorised activity of a branch of an insurance undertaking from a third State are:
(a) identification details of the branch of the insurance undertaking in the Czech Republic where the scope of the authorised activity is changed;
(b) the indication of the insurance activity referred to in Annex 1 to the law or type of reinsurance activity referred to in Article 48 (2) of the Act to be amended;
(c) the decision of the competent authority of the applicant to change the scope of the authorised activity of the branch of an insurance undertaking from a third State in the Czech Republic; in the event of an extension of the activity, the decision to ensure the corresponding amount of financial resources allocated to that branch and the proof of their origin;
(d) an authorisation for the activities of an insurance undertaking from a third State issued by the supervisory authority of the applicant's registered office or a declaration of the applicant that this authorisation has not changed compared to the status of the application for an insurance activity;
(e) the adjusted business plan of the branch referred to in Article 5 (3) (b), incorporating the required change in the scope of the activity with a comment on the business plan data relating to the change in scope of the activity;
f) a description of the modified concept of the management and control system pursuant to Section 7 of the Act, incorporating the required change in the scope of the activity with comments on the proposed changes to the management and control system,
(g) a list of persons proposed to act as a claims representative, indicating their identification details and the Member State in which the claims representative will be entrusted with the handling of insurance claims if insurance is to be reoperated according to the insurance sector referred to in point (10) (a) of Part B of Annex 1 to the Act; and
(h) a description of the staffing, technical and organisational security of the branch of the insurance undertaking following a change in the scope of the authorised activity, in accordance with Article 5 (3) (g).
Change in the scope of the authorised activity of a third-State reinsurance undertaking's branch
The requirements of a request to change the scope of the authorised activity of a branch of a reinsurance undertaking from a third State are:
(a) identification details of the reinsurance undertaking's branch within the territory of the Czech Republic where the scope of the authorised activity is changed;
(b) an indication of the type of reinsurance activity under Section 48 (2) of the Act to be amended;
(c) the decision of the competent authority of the applicant to change the scope of the authorised activity of the reinsurance undertaking branch from a third State in the Czech Republic; in the event of an extension of the scope of the authorised activity, the decision to ensure the corresponding amount of financial resources allocated to that branch and the proof of their origin;
(d) an authorisation for the activity of a third-State reinsurance undertaking issued by the supervisory authority of the applicant's registered office or a declaration by the applicant that this authorisation has not changed compared to the status of the application for authorisation to pursue the reinsurance activity;
(e) the amended business plan of the branch pursuant to Section 37 of the Act with the incorporation of the required change in the scope of the activity with a comment on the data in the business plan relating to the change in scope of the activity;
(f) a description of the modified concept of the management and control system pursuant to Section 7 of the Act with the incorporation of the required change in the scope of the activity with a comment on the proposed changes to the management and control system; and
(g) a description of the staffing, technical and organisational security of the reinsurance undertaking's branch following a change in the scope of the authorised activity, in accordance with Article 5 (3) (g).
Change of person of the head of the branch of the insurance or reinsurance undertaking from a third State
The requirements of the application for a change to the person of the head of the branch of the insurance or reinsurance undertaking from a third State shall be:
(a) identification details of a branch of an insurance or reinsurance undertaking from a third State where the head of the branch is changed;
(b) the identification details of the person newly proposed to be head of the branch; and
(c) the particulars, documents and documents referred to in Article 5 (4) (b) to (f).
Consent to or control the acquisition or increase of a qualifying holding in a domestic insurance or reinsurance undertaking
(1) The requirements of the application for prior consent to or to control the acquisition or increase of qualifying holdings in the domestic insurance or reinsurance undertaking are:
(a) identification details of the national insurance or reinsurance undertaking in which the qualifying participation is to be acquired or increased or controlled;
(b) an indication of the existing, newly acquired and resulting amount of qualifying holding in the capital or voting rights expressed in percentage and absolute value;
(c) proof of a business authorisation if it is a legal person or a natural person of an entrepreneur;
(d) proof of origin of the financial resources from which the acquisition or increase of the qualifying holding is to be covered;
(e) a description of the facts on the basis of which the domestic insurance undertaking or the domestic reinsurance undertaking is to be controlled, if the control is to take place, and of the proof of origin of the financial resources to be used to purchase the share of the non-controlling partner;
(f) financial statements;
(g) a document relating to the acquisition of a qualifying holding;
(h) a description of the relationship between the applicant and the domestic insurance undertaking or domestic reinsurance undertaking in which the applicant intends to acquire or increase qualifying participation or control the applicant and the relationship of the applicant to persons with a special relationship;
(i) a list of persons who, acting in agreement with the applicant, have, acquire or increase qualified participation in, or control, a domestic insurance undertaking or a domestic reinsurance undertaking, indicating their identification details, the amount of the share of the domestic insurance undertaking or domestic reinsurance undertaking and a description of the fact on which the compliance is based;
(j) a strategic plan;
(k) evidence to assess the applicant's credibility;
(l) a list of the members of the elected authority, indicating their identification details, where the applicant is a legal person, and for each person included in that list, evidence of credibility assessment;
(m) information on the personnel link of the applicant with another legal person concerning the current and past membership of the applicant in the elected bodies of other legal persons over the last 10 years, indicating the identification details of another legal person and the functions performed and the period during which the applicant is to serve in another legal person; where the applicant is a legal person, he shall also indicate that information for each person included in the list referred to in point (l);
(n) details of persons with close links which form a group of which a domestic insurance or reinsurance undertaking is to become part after having acquired a qualifying holding by the applicant;
(o) the opinion of the authority supervising the applicant in the country of his registered office on the intention of that person to participate in the activities of a domestic insurance or reinsurance undertaking in the Czech Republic, if the applicant is a legal person having its registered office outside the territory of the Member State to which such supervision is exercised in the country of his registered office.
(2) Where a person with a key function in a domestic insurance undertaking or domestic reinsurance undertaking is to be changed in connection with the acquisition or increase of a qualifying holding or control, the application shall also:
(a) identification of the person proposed to the key function, indicating the function to be performed;
(b) whether it is a change in the number of persons with a key function or an exchange of an existing person with a key function; in the case of a change in the number of persons with a key function, it shall be indicated whether and to what extent it is linked to a change in powers and responsibilities, in the case of an exchange of an existing person with a key function, also the person with a key function being replaced,
(c) an updated organisational structure if it is involved in a change in the number of persons with a key function or in a change in competences and responsibilities; and
(d) a report by the domestic insurance or reinsurance undertaking on the results of the assessment of the suitability of the proposed person with a key function pursuant to § 3 (3) (c).
Merger, division, transfer of capital and change of legal form
(1) The requirements of the application for approval of the merger, division, transfer of capital to the insurance undertaking as a member or transfer of assets of the domestic reinsurance undertaking to the reinsurance undertaking as a member are:
(a) an indication of the type of transformation;
(b) a list of the participating and acquiring companies, which shall include details of the company being acquired, the acquiring company, the transferring company or the acquiring company, indicating their identification details, the capital, the amount of the capital paid up, the amount of the capital paid up, the amount and the subject matter of the individual contributions to which the capital was subscribed or paid up, the share or share, together with an indication of the number, nominal value, form and form of the shares or number of shares;
(c) the conversion project which is the subject of the request, including in particular the reasons for the conversion, the changes to be made in the business plan, the timetable, the description of the effects on the performance of the activities and the provision of services, the description of the integration of the organisational units and the inclusion of work into the new organisational structure and the description of the transfer of competences, unless this information is already contained in other documents submitted;
(d) joint reports by the statutory authorities or reports by the statutory authorities of the participating companies on the conversion or, where appropriate, approval to refrain from processing them;
(e) the expert report or reports, or, where appropriate, the consent to refrain from processing the expert report or reports;
(f) expert opinion or opinion if it is not part of an expert report or reports, if required;
(g) financial statements of the participating companies;
(h) the final accounts of the participating companies and the opening balance sheet of the acquiring company and the audit reports on their verification where required, or interim accounts and audit reports on their verification where required;
(i) information on the estimated balance sheet, the estimated minimum capital requirement and the estimated Solvency Capital Requirement of the acquiring company for the first three financial years;
(j) details of the summary of cases, rights and obligations kept in the accounts of the transferred business establishment or part thereof;
(k) the documents provided for in paragraphs 104 and 107 of the Act, where these facts are not apparent from other documents and documents which are submitted,
(l) an indication of the groups of persons between whom and the legal successors of the persons involved in the conversion arise as a result of the conversion of a close link and the identification of the persons who, as a result of the conversion, will receive a qualified participation in the legal successors of the companies involved, indicating their share or other form of participation in that person; and
(m) a list of persons with a key function in the receiving or receiving companies, indicating their identification details, the function exercised or proposed, indicating the powers and responsibilities associated with that function and a report on the results of the assessment of the suitability of persons with a key function pursuant to Article 3 (3) (c).
(2) The application for authorisation of a change in the legal form of a domestic insurance or reinsurance undertaking shall be accompanied by a design of a change in the legal form under the law governing transmission2), drawn up in the form of a notarial registration in the form of a document of the commercial register.
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Regulation Information
| Citation | Decree No. 307 / 2016 Coll., on Applications under the Insurance Act |
|---|---|
| Regulation Type | Order |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 23.09.2016 |
|---|---|
| Effective from | 23.09.2016 |
| Effective until | - |
| Status | Valid |
Legal Areas:
Banking, Money
Finance
The regulation text is for informational purposes only.
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