68. Are elected officials required to submit reports regarding their finances?

Art. 2. Public Official. "(1) For the purposes of this Act, a public official shall be understood: (a) Member of the Chamber of Deputies of the Parliament of the Czech Republic (hereinafter referred to as "Member"), (b) the Senator of the Senate of the Parliament of the Czech Republic (hereinafter referred to as "Senator"), ...".

Art. 10. Property notices. "(1) The public official is obliged to announce exactly, completely and truthfully: (a) assets inherent in the day preceding the day on which the appointment is made, and (b) assets acquired during the performance of the office.

(2) The public officer shall state in the announcement of the property: (a) immovable property, (b) securities, book-entry securities or rights attaching thereto, (c) a share in a business corporation not represented by a security or book - entry securities, and (d) other movable assets determined by type,

1. whose price, which is usual at a given place and time, exceeds CZK 500000 in the individual case, in the case of a notification of assets under paragraph 1 (a), or

2. if it acquired during the calendar year and their value in its aggregate, excluding items whose price is less than 50000 CZK, exceeded CZK 500000 in the case of a notification of assets under paragraph 1 b).

(3) In the property announcement, the public official shall further specify the manner of acquisition and the price of the property referred to in paragraph 2 (a) and (d), with the exception of the price for immovable property referred to in paragraph 2 (a) in the case of notification referred to in paragraph 1 and). For other movable assets under paragraph 2 (d) the notification referred to in paragraph 1 (a) indicates the price that is customary at the place and time. In the notification referred to in paragraph 1 (b) indicate the price at which the public official has acquired immovable property or any other thing by movable property."

Art. 11. Announcement of Income and Liabilities. "(1) The public official shall be obliged to announce exactly, completely and truthfully the outstanding obligations that he has on the day preceding the day of commencement of office. In this notice, outstanding commitments exceeding the amount of CZK 100,000 in individual cases.

(2) The public official shall be obliged to announce exactly, completely and truthfully that: (a) during the performance of his / her duties, he / she has received any cash or other property benefits, in particular donations, with the exception of the gifts specified in the announcement of assets pursuant to § 10, bonuses, income from business or other self-employment, dividends or other income from participation in, legal entities (hereinafter referred to as "income or other property benefits") if the aggregate amount of income or other property benefits exceeds CZK 100,000 in the calendar year; no salary, remuneration or other evidence to which a public official is entitled in connection with the performance of an office in accordance with special legal regulations, and the income of a spouse or public official partner; this sum does not include gifts whose price is less than CZK 10,000; (b) he/she has outstanding commitments, in particular loans, loans, rents, lease-purchase commitments or bills of exchange, if the aggregate amount of the commitments exceeds CZK 100,000 by 31 December of the calendar year for which the notification is submitted.

(3) The public official shall state in the notification the amount, type and source of each income pursuant to paragraph 2 (a) and the amount and nature of the obligation under paragraph 1 and paragraph 2 (b) including the person to whom such a commitment is made; the natural person shall indicate by name or by name and surname, the legal person shall be identified by the business name or company name, the identification number of the person and the registered office."

Source: Articles 2 (1), 10 (1 - 3) and 11(1 - 3), Act No. 159/2006_Conflict of Interest Act, 2006