This new Act meets the demand for a legal framework for dealing with emergency situations, absence of which became apparent in particular after last year's floods. The Act defines the duty to secure the sovereignty and territorial integrity of the Czech Republic as the fundamental task of the state.

Act on Universities

This new Act provides for the foundation of long awaited private universities, substantially changes provisions on academic titles and introduces tuition fees. Most of the provisions of the Act shall come into effect on 1 January 1999.

Act on the Right to Information on the Environment

This Act with effect from 1 July 1998, will be a substitute for the current regulations on access to environmental information. The Act concerns specifically information on:

  • the state of the environment;
  • intended activities and their perspective environmental consequences, including construction work, products, etc.;
  • exploitation of natural resources.

Act on Investment Funds and Investment Companies

These amendments substantially change the legal regulation of investment funds and investment companies in the Czech Republic. The Amendment purports primarily to provide safeguards against the so-called "tunneling" of investment funds and unit trusts. It also introduces measures enabling shareholders and holders of participation certificates to retrieve market value for their share of the assets of a fund/trust. The amendment is effective as of the day of its publication in the Collection of Laws, which occurred on 8 June 1998. Changes include:

  • increase in the minimum registered capital of investment companies;
  • new rules for business activity of investment funds including management of assets and risks;
  • new rules for the foundation of investment companies/funds;
  • new rules for the acquisition of shares of an investment fund;
  • new rules for transformation of investment funds;
  • new regulations regarding reporting.

Amendment to the legislation in the field of general health insurance

The amendments include among others, the duty of employers to furnish a summary of insurance premium payments. Further amendments allow the creation of special funds for specific and preventive medical programs not covered by statutory medical insurance.

The Building Act

Following the fundamental changes of construction legislation brought about by the new Building Act, new implementing legislation has been approved by the government.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

For further information on the above, please contact Mr Richard Fletcher by telephone on +420 2 2440 1300 or E-mail directly to Click Contact Link