Acta Univ. Agric. Silvic. Mendelianae Brun. 2014, 62, 415-426
Published online 2014-05-23

Transparency of Shareholders in the Czech Republic

Jindřiška Šedová

Masaryk University, Department of Law, Faculty of Economics and Administration, Lipová 41a, 602 00 Brno, Czech Republic

The recodification of commercial and civil law in the Czech Republic has resulted in a new concept for the legislation relating to securities. Significant changes have also been made to the legislation covering shares. The new legislation concerns not only the actual form of shares, but also their circulation. The aim of this article is to highlight the most important changes in the legislation relating to bearer shares, especially bearer shares in paper form, and to assess these changes from the viewpoint of their impact on the transparency of joint stock companies and uncontrolled circulation of shares. This assessment will be based on an appraisal of the importance of bearer shares for capital business in the Czech Republic and the effects the new legislation is expected to bring about. The article will also consider possible alternatives in the behavior of shareholders (investors) who prefer to remain anonymous.


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