Act No. 224 / 1994 Coll.
Act amending and supplementing Act No. 92 / 1991 Coll., on the Conditions for the Transfer of State Assets to Other Persons, as amended by Act No. 92 / 1992 Coll., Act No. 264 / 1992 Coll., Constitutional Act No. 541 / 1992 Coll., Act No. 544 / 1992 Coll., Act No. 210 / 1993 Coll. and Act No. 306 / 1993 Coll., Act No. 171 / 1991 Coll., Act No. 122 / 1993 Coll., Act No. 42 / 1994 Coll., Act No. 74 / 1994 Coll., Act No. 182 / 1994 Coll.
Valid
Law
Effective from 06.12.1994
224
THE LAW
of 3 November 1994
amending and supplementing Act No. 92 / 1991 Coll., on the Conditions for the Transfer of State Assets to Other Persons, as amended by Act No. 92 / 1992 Coll., Act No. 264 / 1992 Coll., Constitutional Act No. 541 / 1992 Coll., Act No. 117 / 1992 Coll., Act No. 210 / 1993 Coll. and Act No. 306 / 1993 Coll., Act No. 171 / 1991 Coll., on the Jurisdiction of the Czech National Council No. 122 / 1993 Coll., Act No. 42 / 1994 Coll., Act No. 74 / 1994 Coll., Act No. 156 / 1993 Coll., Act No. 166 / 1993 Coll., Act No. 285 / 1991 Coll., Act No. 328 / 1991 Coll., Act No. 438 / 1991 Coll.
Parliament has decided on this law of the Czech Republic:
Act No. 92 / 1991 Coll., on the Conditions for Transfer of State Assets to Other Persons, as amended by Act No. 92 / 1992 Coll., Act No. 264 / 1992 Coll., Constitutional Act No. 541 / 1992 Coll., Act No. 544 / 1992 Coll., Act No. 210 / 1993 Coll. and Act No. 306 / 1993 Coll., is amended as follows:
1. In Article 1 (1), the words "or the assets of the State in the use of the organisations of which the municipalities are established 'shall be inserted after the words" the organisation'.
2. In Paragraph 10 (8), the following sentence is added at the end:
"If the method of privatisation is the transfer of privatised assets to a trading company, the transfer of the fund's holding in the business of that company to another person may be carried out in accordance with paragraph 7. '
3. In Paragraph 14, the following paragraphs 2, 3 and 4 are inserted after paragraph 1:
"(2) The public auction is organised by the Fund, which also appoints the licitator.
(3) The terms and conditions of the public auction must be publicly announced by the Fund in the form of an auction order, together with the posting of the operating unit card 5b) at least 30 days before the auction date.
(4) The Fund may use persons authorised to do so under a special regulation to ensure and implement public auctions. (c)
5b) Paragraph 4 (3) of Act No. 427 / 1990 Coll., as amended.
5c) Act No. 455 / 1991 Coll., on Business Business, as amended. '
Paragraph 2 shall become paragraph 5.
4. After Paragraph 14, the following Section 14a is inserted:
(1) If a public limited company is issued in accordance with the privatisation decision and the statutes of the employee shares which were fully paid up when the company was set up, the first acquirer is 5d) The Fund or Land Fund of the Czech Republic, which established the joint stock company, for a maximum period of 120 days from the date of issue.
(2) Within the time limit referred to in paragraph 1, the Fund or the Land Fund of the Czech Republic shall transfer these shares to a public limited liability company. If the transfer of all shares does not occur within that period, the non-transferred shares shall be converted into shares in the name or the owner no later than six months from the first day of the month following the expiry of the period referred to in paragraph 1.
(3) Paragraphs 1 and 2 shall apply mutatis mutandis to employee shares issued under the privatisation decision of the State.
5d) § 5 (1) of Act No. 591 / 1992 Coll., on Securities, as amended. '
5. In Article 15 (3), the following sentences are added at the end: "The creditor of the acquirer of the privatized assets may claim the fulfilment of the obligations arising before 13 August 1993 which had been transferred to the acquirer in the framework of privatisation to the Fund only after all the legal means towards the acquirer of the privatized assets have been exhausted, including the enforcement of the decision and bankruptcy. The Fund shall not be liable for liabilities arising after that date. ';
6. Paragraph 45 shall be added to paragraph 8:
"(8) Undertakings may not establish a lien on the assets for which a privatisation project has been submitted. '
7. In the first sentence of Paragraph 47b (1), the words "carried out by the competent authorities of the Republic 'shall be deleted.
8. In Paragraph 47b (2), the dot at the end of the sentence is replaced by a comma and the following words are added: "unless this law provides otherwise."
(9) Paragraph 47b is added to paragraphs 3 and 4:
"(3) The auction referred to in paragraph 1 shall be organised by a liquidator, who shall also appoint a licitator.
(4) The terms of the public auction must be publicly announced by the liquidator in the form of an auction order, together with the posting of the operating unit card (5b) at least 30 days before the auction date. ';
10. The following Section 47c is inserted after § 47b:
The founder may decide on the entry into liquidation of the asset-management undertaking for which a privatisation project has been submitted only with the consent of the Ministry. '
Act No. 166 / 1993 Coll., on the Supreme Audit Office, as amended by Act No. 331 / 1993 Coll. and Act No. 117 / 1994 Coll., is added as follows:
Article 3 (5) is added, including footnote (1b):
"(5) For the purposes of this Act, the management of assets transferred to the National Property Fund under special regulations is also understood as management of state property. (1b)
1b) Paragraph 11 (2) of Act No. 92 / 1991 Coll., on the conditions for the transfer of State assets to other persons, as amended by Act No. 210 / 1993 Coll. § 5 of Act No. 171 / 1991 Coll., on the jurisdiction of the authorities of the Czech Republic regarding transfers of State assets to other persons and on the National Property Fund of the Czech Republic, as amended. "
Paragraph 14a of Article I (4) of this Act also applies mutatis mutandis to employee shares issued in the name of the National Property Fund of the Czech Republic or the Land Fund of the Czech Republic on the date of the effective date of this Act, or to employee shares to be issued in the name of the National Property Fund of the Czech Republic or the Land Fund of the Czech Republic on the basis of the instrument of incorporation, if they are registered in the Commercial Register on the date of effectiveness of this Act on the date of the effective date of the effective date of that Act, whereby the period referred to in Section 14a (1) begins to run on the date of the effective date of that Act. However, if the employee shares were issued in the name of the National Property Fund of the Czech Republic or the Land Fund of the Czech Republic more than 120 days before this Act is effective, this period shall be reduced to 60 days.
This Act shall take effect on the day of its publication.
Uhde v. r.
Havel v. r.
Klaus v. r.
Sign in for notes, favorites and notifications
Regulation Information
| Citation | Act No. 224 / 1994 Coll., amending and supplementing Act No. 92 / 1991 Coll., on the Conditions for the Transfer of State Assets to Other Persons, as amended by Act No. 92 / 1992 Coll., Act No. 264 / 1992 Coll., Constitutional Act No. 541 / 1992 Coll., Act No. 182 / 1992 Coll., Act No. 166 / 1993 Coll. and Act No. 306 / 1993 Coll., Act No. 171 / 1991 Coll., Act No. 122 / 1993 Coll., Act No. 42 / 1994 Coll., Act No. 74 / 1994 Coll., Act No. 182 / 1992 Coll., Act No. 166 / 1993 Coll., Act No. 205 / 1991 Coll., Act No. 328 / 1991 Coll. |
|---|---|
| Regulation Type | Law |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 06.12.1994 |
|---|---|
| Effective from | 06.12.1994 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
Comments 0