Basic Provisions
Subject Matter of the Act
Article 1
(1) This Act governs:
1. transactions between residents and non-residents in
foreign means of payment and in kuna;
2. transactions between residents in foreign means of
payment;
3. unilateral transfers of assets from and into the Republic
of Croatia that cannot be considered transaction executions
between residents and non-residents.
(2) Transactions referred to in paragraph 1 of this Article
shall imply current and capital transactions and their
execution by means of payments, collection or transfers.
Residents and Non-Residents
Article 2
(1) Under the terms of this Act, the term
residents shall mean:
1. legal persons with a head office in the Republic of
Croatia, except their foreign branches;
2. branches of foreign companies and sole traders enrolled
in a register kept by a competent government authority
or administration in the Republic of Croatia;
3. sole traders, craftsmen, and other natural persons
with a head office or a place of residence in the Republic
of Croatia who are self-employed and perform the economic
activity of their registration (hereinafter: individual
undertakings);
4. natural persons with a place of residence in the Republic
of Croatia;
5. natural persons staying in the Republic of Croatia
on the basis of a valid residence permit for a minimum
period of 183 days;
6. diplomatic, consular and other representative offices
of the Republic of Croatia abroad financed by the budget
and Croatians citizens employed in those representative
offices, including their family members.
(2) All other persons not stated in paragraph 1 of this
Article shall be considered non-residents.
Banks
and Authorized Companies
Article 3
(1) Under the terms of this Act, the term bank
shall imply a financial institution licensed by the Croatian
National Bank and authorized to perform transactions referred
to in this Act and prescribed by the Banking Act, a non-resident
bank authorized, pursuant to the Banking Act, to provide
banking services directly in the territory of the Republic
of Croatia and the Croatian Bank for Reconstruction and
Development.
(2) Authorized company shall imply a company licensed
by the Croatian Securities Exchange Commission, which
conducts securities transactions pursuant to provisions
of the Securities Market Act.
Foreign
Means of Payment
Article 4
(1) Foreign means of payment, under the terms
of this Act, shall comprise foreign exchange, foreign
cash, checks, and other monetary instruments denominated
and payable in foreign currency.
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(2) Foreign exchange, under the terms of this Act, shall
mean monetary claims from abroad.
(3) Foreign cash (banknotes and coins) shall mean monetary
claims on the central bank or government of the country
of issue.
(4) Checks and other monetary instruments denominated
and payable in foreign currency shall mean monetary claims
on their issuers.
Securities and Derivative
Financial Instruments
Article 5
(1) Securities shall mean securities defined in accordance
with the Securities Market Act.
(2) Securities traded in the capital markets, under the
terms of this Act, shall comprise shares, bonds and other
debt securities issued in a series with a maturity of
over one year.
(3) Securities traded on the money market, under the terms
of this Act, shall comprise short-date securities issued
in a series with a maturity of under one year, such as
Treasury bills, Croatian National Bank bills, commercial
papers, certificates of deposit, and banker’s acceptances
and long-dated debt securities with maximum remaining
maturity of one year.
(4) Derivative financial instruments, under the terms
of this Act, shall comprise securities or agreements whose
value changes in accordance with the changes in the value
of financial instruments and any other legal arrangements
from which they are derived.
Domestic
and Foreign Securities
Article 6
(1) Domestic securities, under the terms of this
Act, shall be securities issued by a resident issuer and
depository bills issued abroad on the basis of the underlying
domestic security.
(2) Securities not referred to in paragraph 1 of this
Article shall imply foreign securities.
Capital Transactions
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