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 .33 6 Cash transport, storage and protection . 7 Destruction of Czech banknotes and coins withdrawn from circulation . 8 Communication with professionals and the public on changeover issues, exchange of banknotes and coins withdrawn from circulation .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 . ..