Licensing and approval proceedings conducted by the Czech National Bank

As the financial market supervisory authority, the Czech National Bank issues authorisations (licences) to the majority of entities providing services on the financial market (banks, insurance companies, investment firms, management companies, payment institutions, etc.). In this context, it also issues other permissions or approvals (approvals of securities prospectuses, approvals of the publication of takeover bids, prior consents to the justification of a consideration amount when applying the squeeze-out principle, etc.). In these cases the Czech National Bank acts as an administrative authority pursuant to Article 1(3) of the Act on the Czech National Bank and to other, sector-specific laws. The procedures for submitting applications for permission or approval to the Czech National Bank are governed by the relevant sector-specific laws (e.g. the Act on Banks, the Collective Investment Act, the Capital Market Undertakings Act, the Act on Bonds, the Act No 240/2013 Coll., Act on Management Companies and Investment Funds etc.) and subsequently also in decrees issued by the Czech National Bank to implement the individual laws. These decrees stipulate the specific requisites of applications, the specimen forms on which applications should be submitted, and the annexes that must be attached to applications.

In connection with the launch of the basic registers system on 1 July 2012, some changes have been made in licensing and approval proceedings, as described in the document entitled Information on planned changes in licensing and approval proceedings in connection with the basic registers (pdf, 203 kB, available in Czech only).

The following pages provide detailed information on submitting applications, including the relevant forms and methodological information, broken down by sector.