Česká národní banka


Licensing and approval proceedings - Issuers

In the area of public offers of investment securities or the admission of investment instruments to a regulated market pursuant to Act No. 256/2004 Coll. (pdf, 596 kB), the Capital Market Undertakings Act – new version is available in Czech only,  the CNB decides on the following applications:

  • security prospectuses,
  • base prospectuses, and
  • documents containing information equivalent to information in a prospectus.

The CNB approves a security prospectus at the request of the entity that drafted the prospectus, with the exception given in Article 36c(4) of the Capital Market Undertakings Act. The requisites of the prospectus are laid down in Commission Regulation (EC) No 809/2004 (pdf, 868 kB) of 29 April 2004,implementing Directive 2003/71/ES of the European Parliament and of the Council.

In the area of bond issuance pursuant to Act No. 104/2008 Coll. (pdf, 363 kB, in Czech only), on Takeover Bids, the CNB decides on:

  • allowing or prohibiting the publication, withdrawal or amendment of takeover bids, and
  • prolonging the deadline pursuant to Article 13(1) of the Act on Takeover Bids

In connection with a public offer to purchase or exchange participating securities admitted for trading on a regulated market pursuant to Article 330 of of the Act on Commercial Companies and Cooperatives (Business Corporations Act) (pdf, 1,32 MB), the CNB decides on:

  • prohibiting the making of a public offer of a contract or making a call to rectify defects in the offer.

In connection with the compulsory transfer of participating securities admitted to trading on a regulated market (squeeze-out), the CNB decides on:

  • granting prior consent to the justification of proposed consideration amounts pursuant to the Act on Business Corporations.

The form of the individual applications is not stipulated.

Official information, methodological documents – available in Czech only