Regulatory Alerts2020-01-01
Decree No. 355/2020 Coll. on applications and certain information pursuant to the Act on Banks and the Act on Credit Unions
The Czech National Bank issued Decree No. 355/2020 Coll. to establish the technical requirements and essential elements for applications seeking prior consent for significant banking and credit union transactions. The regulation details specific documentation needed for events such as the disposal of commercial establishments, dissolution, asset transfers, and the acquisition of major holdings. It further defines key terms and specifies the supporting documents required to assess the trustworthiness, competence, and professional experience of senior officers.
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