Issuance, takeover bids and squeeze-outs

The legislation in this area covers rules relevant for CNB supervision in the area of public offer of securities and the legal status of securities issuers and persons keeping a register of securities (the central depository). Related issues of the secondary securities market are addressed in separate sections. This legislation also covers voluntary and mandatory takeover bids, public offers to purchase or exchange securities and squeeze-outs of minority shareholders in listed companies.

Related rules in the area of the auditing and rating agencies (such as provisions on audit committees, reporting by issuers of structures financial instruments or obligations when using two or more rating agencies) are listed in a separate section.

Further practical information, for example regarding licensing and approval proceedings and the information duty to the CNB, is available on separate pages.

  • Laws and regulations
    (An overview of laws and implementing regulations relating to the given financial sector. Also contains directly binding EU regulations where issued in the given sector).
    • Acts and directly binding EU regulations
    • Decrees
  • Methodological and interpretative documents
    (An overview of current official information, opinions and replies relating to acts and regulations of the given financial sector).
    • Official information
    • Guidelines and Recommendations of European Supervisory Authorities
    • Answers to enquiries
    • Other documents
  • Consultation documents and proposals - available in Czech only
    (Newly prepared documents which the CNB publishes for discussion or to provide information to financial market participants).

The above-mentioned legal rules are for information only. The sole authentic wording of legal rules is the version published in the Collection of Laws or in the CNB Bulletin.