24th February 2014

Private members’ bill: practicing usury as a criminal offence

A group of deputies put forward an amendment to the Act on Criminal Liability of Legal Entities (zákon o trestní odpovědnosti právnických osob). The current state of affairs stipulates that practicing usury is a criminal offence only in case of natural persons. The proposed amendment should enable that a legal entity may be accused for practicing usury. The amendment reflects recent general knowledge that in social excluded areas credits are provided by legal entities. This practice contributes to even worsening of the situation in those areas. The proposed provision tackles with the criminal offence of practicing usury which is defined by the Penal Code. The amendment should come into force in the next month after being promulgated.

The Government discussed the Bill on its last session and stated that the principle of the amendment is actually correct; however, the Government expects to amend the entire Act on Criminal Liability of Legal Entities (see the Government's opinion). The reason is that the Act has been two years efficient and it needs complex assessment.

The Bill is heading to the first reading in the Chamber of Deputies.

For further information, click here.

Members of the American Chamber of Commerce in the Czech Republic