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The new Act on Investment Companies and Investment Funds

Many Czech investors have already invested their money or other assets into various types of funds (retail and those for qualified investors). A new legal regulation of the fund sector has been recently adopted which will have a significant impact not only on the fund administrators but also on investors themselves. On 19 August 2013, a new Act No. 240/2013 Coll., on Investment Companies and Investment Funds ("ZISIF") came into force.

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Less use of chemicals in agricultures

The statistics show that in recent decades the volume of pesticides used in agriculture is increasing. The chemical substances penetrate through agricultural products and indirectly into the human body. The European Union is trying to reverse this trend and therefore the European Parliament and the Council adopted the Directive No. 2009/128/EC of 21 October 2009 providing a framework for actions of the Community in order to achieve the sustainable use of pesticides. In this Directive is also defined "Integrated Pest Management", its general principles are set out in Appendix III to this Directive. The aforementioned Directive set a deadline of 14 December 2011, when the individual Member States of the EU were obliged to implement the Directive into the national laws. The Czech Republic to this effect amended the Act No. 326/2004 Coll. on phytosanitary care and amended certain related laws (hereinafter only the "Law on Phytosanitary Care"), specifically it was the amendment No. 199/2012 Coll.

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Significant changes in the regulation of executions as of 1 January 2013

Act No. 396/2012 Coll. - which amends Act No. 99/1963 Coll., The Civil Code, as amended, and other related acts - valid from 19 September 2012 and effective from 1 January 2013 has brought many major changes, among others a number of significant changes in the area of execution proceedings (hereinafter the "Amendment").

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Impacts of the New Civil Code on financing transactions

The completely new Czech Civil Code (Act no. 89/2012 Coll. – the „NCC“)will become effective on 1 January 2014. Simultaneously with the NCC a number of related legal acts will become effective including, among others, the new Act on Commercial Corporations (Act no. 90/2012 Coll.), the new Act on Private International Law (Act no. 91/2012 Coll.) and a number of existing legal regulations (238!) such as existing Civil Code, Commercial Code, Act on International Private and Procedural Law, etc., will cease to be effective as of the same date.

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