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National Euro Changeover Plan for the Czech Republic

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National Euro Changeover Plan for the Czech Republic National Coordination Group for Euro Changeover in the Czech Republic National Euro Changeover Plan for the Czech Republic 2007 Content National Euro Changeover Plan for the Czech Republic Part I Basic Information 1 Introduction . 7. 1 Review of actions undertaken so far . 8. 2 Single-step transition to the euro . 9. 2 Basic principles of the changeover in the Czech Republic . .10 3 The changeover timetable . .13 4 The changeover preparation process . .14 1 Euro area enlargement procedure of EU institutions . .15 2 Updates of the National Changeover Plan . 3 Institutional arrangements for the changeover . .16 1 The National Coordinator and the National Coordination Group . 2 NCG Working Groups . 3 NCG Organisational Committee . .17 4 Method for assessing the changeover preparations . 5 Summary of main tasks in individual sectors . .18 1 Banks and other financial sector institutions . 2 Public finances and central and local government . .19 3 The non-financial sector and consumer protection . .20 4 Legislative requirements for the changeover . .21 1 Summary of the changeover legislation, including judgments . .22 2 Implementation of the changeover into Czech law . .23 5 Information sources and communication . 6 Information and statistical systems . .24 7 The NCG’s main tasks for 2007 . 6 The national coordinator’s recommendations . .26 7 Institutional structure of the changeover preparations . .27 Part II Specification of Tasks in Individual Sectors 1 Introduction . .31 National Euro Changeover Plan 2 for the Czech republic 2007 2 Banks and other financial sector institutions . .31 1 The cash changeover . 1 Delivery of euro banknotes . 2 Production and delivery of euro coins . 3 Frontloading of banks and non-financial corporations . .32 4 Loading and conversion of ATMs . 5 Exchange of banknotes and coins, dual circulation and withdrawal of national currency banknotes and coins . .33 6 Cash transport, storage and protection . 7 Destruction of Czech banknotes and coins withdrawn from circulation . 8 Communication with professionals and the public on changeover issues, exchange of banknotes and coins withdrawn from circulation . .34 2 The changeover for non-cash transactions . 1 CNB membership of TARGET, modification of CERTIS . 2 Conversion of accounts, payment cards and other payment instruments . .35 3 Financial sector institutions and the euro, information systems, consumer protection in the financial sector . .36 1 Conversion of securities and other financial market products . 2 Adjustment of market operators and settlement systems, adjustment of market indices Securities trading . 3 Conversion of information technology . .37 4 Overview of consumer protection-related measures, revaluation of securities . 4 Overview of necessary legislative changes . .38 1 Implementation of changes to Czech law so that the Czech Republic meets the conditions for adopting the euro . 2 Legislative measures for euro adoption itselfa . 5 Conclusions, summary, main recommendations . .39 6 Indicative timetable of changeover-related tasks in the financial sector . .40 3 Public finances and central and local government . .44 1 The state budget, local authority budgets and state funds . 1 Relationship to social security and public health insurance . .45 2 Administration of government debt and state financial assets . 3 Accounting, reporting, taxes, duties, wages and salaries . 1 Accounting . 2 Taxes . .46 3 Duties . 4 Judicial and administrative fees . 5 Local charges . .47 6 Wages and salaries . 4 Prices . 5 Social security and public health insurance . 1 Pension insurance . 2 Sickness insurance . .48 3 Public health insurance . 6 Conversion of information systems . .49 7 The legislative aspect of the changeover in public administration . 4 The non-financial sector and consumer protection . .50 1 Price conversion and the dual display of prices . 2 Dual circulation . .51 Content 3 Ethics of the changeover . .51 4 Price monitoring, inspection work, dispute resolution . .52 5 Main corporate aspects of the changeover . .53 1 The capacity aspect . .54 2 The need to invest in adjusting business reporting, computer systems, data-processing software/hardware and staff training 3 The aspect of financial management, planning and accounting . 4 The frontloading aspect . .55 5 The aspect of redefining a company’s market position in the medium and long run . .56 5 Legislative requirements for the changeover . 1 Characteristics of changeover-related tasks . 1 Preparation of the General Act . 2 Preparation of the new act on the Czech National Bank . .57 3 Preparation of the timetable for legislative work . .58 1 Method of division of legal regulations into groups . .59 2 Recommendations for sponsors of individual bills . 3 Identification of regional and local government legal acts . .60 4 Schedule for legislative work associated with the changeover . .61 1 Preparation of the General Act . 2 Preparation of the new Act on the CNB . 3 Preparation of the Timetable for Legislative Work Associated with the Changeover . 6 Information sources and communication . .62 1 Objectives of the changeover information campaign . 2 System and principles of communication . 3 Institutional arrangements . ..
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