The Chamber of Deputies approved the governmental proposal of the Act on Transparent Rules of Joint Stock Companies (zákon o opatřeních ke výšení transparentnosti akciových společnostní) in the second reading on 6 February. The Bill expects limiting the so-called roll-shares on an owner that may cause a non-transparent ownership structure of companies. The governmental proposal primarily aims at regulating companies competing for public contracts.
Although the Constitutional Committee of the Chamber did not raise any objection to the Bill, the Committee has not also recommended the Chamber to pass the Bill. In the second reading discussion, some amendments occurred. One of them rejects the governmental version of the Bill that any roll-shares on an owner have to be immobilized till 30 June 2014. According to the amendment, the roll-shares on an owner issued till the promulgation of the Act are possible. The amendment accepts the legal condition for companies to compete for public contracts (recorded roll-shares kept by the Central Depository).
The program of the Chamber of Deputies expects to discuss the Bill at the current session; the precise term has not been set. For further information regarding the current discussion of the Bill, click here.
12th October 2020