Czech Republic: Akciov\u00e1 spole\u010dnost s prom\u011bnn\u00fdm kapit\u00e1lem by m\u011bla pos\u00edlit z\u00e1jem investor\u016f<\/p>\n
Jednu z novinek v \u010desk\u00e9m pr\u00e1vn\u00edm \u0159\u00e1du p\u0159edstavuje od ledna 2014 i akciov\u00e1 spole\u010dnost s prom\u011bnn\u00fdm kapit\u00e1lem (z francouzsk\u00e9ho Societe d’Investissement A Capital Variable t\u00e9\u017e zn\u00e1m\u00e1 jako SICAV). Hlavn\u00edm c\u00edlem zaveden\u00ed SICAV v \u010desk\u00e9m pr\u00e1vn\u00edm \u0159\u00e1du je p\u0159ibl\u00ed\u017eit pr\u00e1vn\u00ed r\u00e1mec kolektivn\u00edho investov\u00e1n\u00ed standard\u016fm b\u011b\u017en\u00fdm v zahrani\u010d\u00ed a zv\u00fd\u0161it tak p\u0159ita\u017elivost \u010cesk\u00e9 republiky z pohledu investor\u016f. <\/p>\n
SICAV je akciovou spole\u010dnost\u00ed s ur\u010dit\u00fdmi specifiky, kter\u00e1 vych\u00e1z\u00ed se z\u00e1kona o investi\u010dn\u00edch spole\u010dnostech a investi\u010dn\u00edch fondech. V ostatn\u00edm se SICAV \u0159\u00edd\u00ed obecnou \u00fapravou akciov\u00e9 spole\u010dnosti obsa\u017eenou v z\u00e1kon\u011b o obchodn\u00edch korporac\u00edch. Jedn\u00e1 se o akciovou spole\u010dnost s obligatorn\u011b monistickou strukturou vnit\u0159n\u00edch org\u00e1n\u016f, kter\u00e1 vyd\u00e1v\u00e1 dva druhy akci\u00ed, tzv. zakladatelsk\u00e9 akcie a investi\u010dn\u00ed akcie. Do obchodn\u00edho rejst\u0159\u00edku se jako tzv. zapisovan\u00fd z\u00e1kladn\u00ed kapit\u00e1l zapisuje pouze \u010d\u00e1stka vlo\u017een\u00e1 \u00fapisem zakladatelsk\u00fdch akci\u00ed. Upisov\u00e1n\u00ed investi\u010dn\u00edch akci\u00ed a jejich zp\u011btn\u00fd odkup tak nijak neovliv\u0148uje v\u00fd\u0161i zapisovan\u00e9ho z\u00e1kladn\u00edho kapit\u00e1lu. Vyd\u00e1v\u00e1n\u00ed a odkupov\u00e1n\u00ed investi\u010dn\u00edch akci\u00ed tak\u00e9 nepodl\u00e9h\u00e1 obecn\u00fdm princip\u016fm a pravidl\u016fm uplat\u0148ovan\u00fdm p\u0159i zvy\u0161ov\u00e1n\u00ed\/sni\u017eov\u00e1n\u00ed z\u00e1kladn\u00edho kapit\u00e1lu. Tento proces tak nebude zat\u00ed\u017een siln\u00fdmi administrativn\u00edmi po\u017eadavky, jak tomu bylo doposud u ve\u0161ker\u00fdch zm\u011bn v\u00fd\u0161e z\u00e1kladn\u00edho kapit\u00e1lu akciov\u00fdch spole\u010dnost\u00ed. <\/p>\n
Jednou ze st\u011b\u017eejn\u00fdch charakteristik SICAV je rovn\u011b\u017e mo\u017enost SICAV flexibiln\u011b vytv\u00e1\u0159et podfondy sleduj\u00edc\u00ed odli\u0161nou investi\u010dn\u00ed strategii, co\u017e s sebou nese i tu v\u00fdhodu, \u017ee podfondy nejsou omezeny po\u017eadavky na minim\u00e1ln\u00ed kapit\u00e1l (t\u011bm podl\u00e9h\u00e1 pouze SICAV jako celek) a tyto kapit\u00e1lov\u00e9 po\u017eadavky se nezvy\u0161uj\u00ed ani v souvislosti se zakl\u00e1d\u00e1n\u00edm dal\u0161\u00edch nov\u00fdch podfond\u016f. Jm\u011bn\u00ed jednotliv\u00fdch podfond\u016f je \u00fa\u010detn\u011b a majetkov\u011b odd\u011blen\u00e9. Z toho tak\u00e9 vypl\u00fdv\u00e1 pr\u00e1vn\u00ed ochrana jednotliv\u00fdch podfond\u016f a jejich investor\u016f, kdy dluhy podfondu vznikl\u00e9 z jeho investi\u010dn\u00ed \u010dinnosti bude mo\u017en\u00e9 hradit pouze z majetku tohoto podfondu. <\/p>\n
Vedle v\u00fdhod ov\u0161em p\u0159in\u00e1\u0161\u00ed SICAV tak\u00e9 ur\u010ditou nejistotu ohledn\u011b aplikace a v\u00fdkladu jednotliv\u00fdch ustanoven\u00ed t\u00e9to nov\u00e9 pr\u00e1vn\u00ed \u00fapravy. A\u017e praxe tak uk\u00e1\u017ee, do jak\u00e9 m\u00edry zcela nov\u00e1 \u00faprava zv\u00fd\u0161\u00ed atraktivitu kolektivn\u00edho investov\u00e1n\u00ed v \u010cR. <\/p>\n
Zdroj: z\u00e1kon \u010d. 240\/2013 Sb., o investi\u010dn\u00edch spole\u010dnostech a investi\u010dn\u00edch fondech<\/p>\n","protected":false},"excerpt":{"rendered":"
Czech Republic: Akciov\u00e1 spole\u010dnost s prom\u011bnn\u00fdm kapit\u00e1lem by m\u011bla pos\u00edlit z\u00e1jem investor\u016f Jednu z novinek v \u010desk\u00e9m pr\u00e1vn\u00edm \u0159\u00e1du p\u0159edstavuje od ledna 2014 i akciov\u00e1 spole\u010dnost s prom\u011bnn\u00fdm kapit\u00e1lem (z francouzsk\u00e9ho Societe d’Investissement A Capital Variable t\u00e9\u017e zn\u00e1m\u00e1 jako SICAV). Hlavn\u00edm c\u00edlem zaveden\u00ed SICAV v \u010desk\u00e9m pr\u00e1vn\u00edm \u0159\u00e1du je p\u0159ibl\u00ed\u017eit pr\u00e1vn\u00ed r\u00e1mec kolektivn\u00edho investov\u00e1n\u00ed standard\u016fm […]<\/p>\n","protected":false},"author":1,"featured_media":5471,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[78],"tags":[79],"class_list":["post-6876","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bnt","tag-czech"],"acf":[],"_links":{"self":[{"href":"https:\/\/lynx.legal\/cs\/wp-json\/wp\/v2\/posts\/6876","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lynx.legal\/cs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lynx.legal\/cs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lynx.legal\/cs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lynx.legal\/cs\/wp-json\/wp\/v2\/comments?post=6876"}],"version-history":[{"count":0,"href":"https:\/\/lynx.legal\/cs\/wp-json\/wp\/v2\/posts\/6876\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lynx.legal\/cs\/wp-json\/wp\/v2\/media\/5471"}],"wp:attachment":[{"href":"https:\/\/lynx.legal\/cs\/wp-json\/wp\/v2\/media?parent=6876"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lynx.legal\/cs\/wp-json\/wp\/v2\/categories?post=6876"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lynx.legal\/cs\/wp-json\/wp\/v2\/tags?post=6876"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}