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Abuse of law in Czech legislation and case law
Zachová, Veronika ; Kohajda, Michael (advisor) ; Kotáb, Petr (referee)
Resume in English Name of the thesis: Abuse of law in Czech legislature and judicature Abstract: The submitted thesis analyses the development and the way of using, the principle of prohibition of abuse of law, in the field of Czech tax law. The thesis is dedicated not only to the development but also to the subsequent use of this principle in the judicature and legislation. Emphasis is placed on the judicature, which has undergone considerable progress. The thesis chapter defines fundamental terms and provides the essential explanation of them. This is needed for the further interpretation of the concept of the prohibition of abuse of law. Furthermore, the thesis deals with the regulations in force, which might be connected to this principle. Next topic in the thesis is the probable effect of this principle with other legal ideologies or institutes, such as legal certainty, legitimate expectation, and others. The subject matter of the thesis is dedicated to the study of the principle in present day application with a reflection to the common appearance in the individual fields of tax law and to the specifics of them. Considering the membership of the Czech Republic in the European Union, an analysis of the principle is made on the scope of the regulation within this context. The principle is used as an...
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Reform of the Prospectus Regime
Illmann, Erik ; Kohajda, Michael (advisor) ; Kotáb, Petr (referee)
in English This diploma thesis explores the ongoing reform of the prospectus regime in the European Union. On 30 November 2015, the European Commission presented a proposal for a new regulation, which is to replace the current so-called Prospectus Directive. The primary aim of this thesis is determine the shortcomings of the current prospectus regime and to critically analyze the proposal in order to determine, whether it addresses these shortcomings and whether it improves the prospectus regime in general. The thesis consists of three main parts: the first introduces the prospectus, its characteristics and current regulation in the EU; the second explores and analyses the proposal itself and makes conclusions on the proposed changes; the third and final part explores the topic of prospectus liability and conflict-of-law rules. Based on the conducted research I arrive at the conclusion that the biggest issues of the current prospectus regime are the high costs connect to the preparation of a prospectus, inflexible disclosure requirements for certain types of issuers, ineffective retail investor protection and diverging implementation of the Prospectus Directive across EU member states. While the European Commission's proposal addresses most of these shortcomings and certainly represents an...
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Banking secrecy
Taškárová, Ivana ; Kotáb, Petr (advisor) ; Kohajda, Michael (referee)
Title of the thesis: Banking secrecy The paper deals with a traditional instrument dedicated to protection of client's personal data provided to the bank - banking secrecy. The instrument is analysed in connection with breaking of banking secrecy. The ways of breaking the banking secrecy are divided into two groups: (i) manners of breaking the banking secrecy regulated by law and (ii) manners of breaking the bank secrecy not specifically regulated by law where the main role is given to secondary legislation and case law. Regarding the ways of breaking regulated by law, the paper describes the Act on Banks as a general law and also regulation included in specific laws. There are two categories of specific laws: which specify the process of breaking the bank secrecy included in the Act on Banks or which regulate specific case of breaking the banking secrecy. As for the civil procedure, there is a premise of diminution of use of the Civil Procedure Act for gathering client information by authorised persons because of the Central Registry of Accounts. The important type of laws regulating the breaking of the banking secrecy is those regulating registers of client information protected by the banking secrecy. The most important development of legislation is the new regulation of non-banking registers in...
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Payments of a fiscal nature in Islamic law
Vojtěch, Jakub ; Kohajda, Michael (advisor) ; Kotáb, Petr (referee)
Abstract, Thesis Title, Keywords in English Language The text aims to offer a depiction of the system of selected payments having tax features, which are contained in Islamic law, based on a wide range of specialized literature and especilally on the primary sources of Islamic law. The primary objective of this paper is a review of the Islamic payments of a fiscal nature from the point of view of the theoretical knowledge as stated in the Czech tax legal theory. The system of Islamic payments that have been examined includes: i) Zakat, ii) Jizya, iii) Kharaj, iv) Khums, v) Sadaqa, including its form of Waqf, and finally vi) 'Ushr. From the perspective of the Czech tax legal theory only Zakat, Jizya, Kharaj and 'Ushr meet (albeit often with certain caveats) the obligatory theoretical requirements for taxes. Thesis Title: Payments of a fiscal nature in Islamic law. Keywords: Islam; Law; Taxes.
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Law regulation of banknotes and coins circulation in the Czech Republic
Vrba, Jan ; Kotáb, Petr (advisor) ; Kohajda, Michael (referee)
This thesis focuses on the law regulation of the paper currency, coins and money circulation in the Czech Republic. It is divided into six chapters. The first chapter is intended to introduce the issue of the currency to a reader by explaining the concept of money, currency, legal tenders and related matters. It describes also the process of money creation and historical evolution of money in the world and within the Czech Republic as well. The second chapter examines the current law regulation regarding to the currency and the money circulation in the Czech Republic. It provides brief explanation of source of law concept and specifies the fundamental legal regulations relating to the currency and money circulation. The third chapter is concentrated on the role of the Czech national bank as the central bank of the Czech Republic. The fundamental activities performed by the Czech national bank upon the laws, such as the issuance of the fiat money and the management of the circulation of currency, are discussed in this chapter. The fourth chapter is dedicated to the Czech coinage. The chapter describes structure of currency in circulation in the Czech Republic, reveals what is the legal tender in the Czech Republic and identifies certain loophole (error in law) in the regulation regarding the...
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Legal regulation of the activities of banks
Košťál, Filip ; Kotáb, Petr (advisor) ; Kohajda, Michael (referee)
in English - Diploma thesis - Filip Košťál The topic of this thesis is "Legal Regulation of Banking Activities". Firstly, the thesis describes reasons and theoretical basis for regulation of banks. Next, the thesis focuses on three levels of regulation of banking, i.e., regulation within the Basel Committee on Banking Supervision, which prepares recommendations, which, however, are mostly followed by regulatory activities at the European Union level. Last but not least, the thesis also focuses on Czech legislation, which is, together with directly applicable regulations of the European Union binding for banks carrying out activities in the Czech Republic. The main purpose of this thesis is to provide the reader with a consolidated insight into all three levels of banking regulation and point out potentially problematic points arising out of it. The thesis also illustrates some of the aspects of banking regulation on specific examples from the Czech banking sector. The abovementioned regulatory measures deal mostly with prudential rules for banks. The thesis, however, focuses also on some other selected areas of banking regulation, namely banking secrecy and its release with regard to credit registers, obligations of banks arising out of the act on selected measures against legitimisation of...
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Supervision of the financial system in the European Union
Žáček, Ondřej ; Kohajda, Michael (advisor) ; Kotáb, Petr (referee)
1 Abstract This master thesis deals with the arrangement of the supervision of the financial system in the European Union. Its content and structure is strongly tied with two principal supervisory pillars - European System of Financial Supervision (ESFS) and Single Supervisory Mechanism (SSM). The first chapter starts with the historical background of the European financial supervision and proceeds to the recent global Great recession which motivated the reforms that led to the current state of the supervisory structure. The operation of the ESFS and SSM is thoroughly explained in chapters two and three respectively, moreover I cover their interaction with national supervisory authorities and special emphasis is put on the role of the Czech National Bank. Several controversial issues are also reflected in the course of the thesis, ie. rather regulatory than supervisory role of the European supervisory authorities which contradicts the initially declared intentions, their low operability or quite illusory legislative demand of extensive independence of national representatives when they stand for their respective home authorities in the European institutions. The emphasis on the Czech Republic is evident from the sub-chapter regarding the potential entry into the close cooperation with the Single Supervisory...
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Groups as value added tax payers
Kořínková, Zuzana ; Kohajda, Michael (advisor) ; Kotáb, Petr (referee)
This thesis is devoted to groups as value added tax payers. This concept was introduced into Czech law on 1st January 2008. A VAT group enables persons that meet the criteria required by the VAT Act to be considered a single taxable person, i.e. a single tax payer. The Czech VAT group legislation is based on article 11 of Council Directive 2006/112/EC of 28 November 2006 on the common system of value added tax. The aim of this thesis is to present and thoroughly analyze VAT group legislation in Czech law, and to point out certain pitfalls of this legislation, including its interaction with EU law, and the law of some of the other EU member states. A secondary goal is to assess the rate at which VAT groups are being used in the Czech Republic. The first chapter describes VAT group in EU law, and its introduction into the Czech legal order. The second chapter discusses the requirements that the law puts on members of a VAT group, with extra emphasis on the requirement of close binding of persons, including the membership of physical persons and non-taxable persons in a VAT group. The third chapter deals with VAT group as a subject of legal relations, describing in more detail the concept of a representative member and the responsibilities of a VAT group member. The next chapter takes a more practical...
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Legal regulation of activities of financial advisor
Stupka, Martin ; Kohajda, Michael (advisor) ; Kotáb, Petr (referee)
Title: Legal regulation of activities of financial advisor The master's thesis Legal regulation of activities of financial advisor explains the term of financial advisory in the Czech Republic and other relative terms from perspective of a man who actually has experience with this field. The goals of the thesis are to define terms of financial advisory and financial advisor, and then to analyze individual fields of financial market from legal perspective. The most described field in master's thesis is the field of insurance.
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A comparison of the organization of supervision over the financial market in individual EU member states
Bízek, Tomáš ; Kohajda, Michael (advisor) ; Kotáb, Petr (referee)
In my diploma thesis, I aim to define and compare models of financial market supervision used in the European Union member states. Furthermore, I try to analyze the development of these states between 2001 and 2015. Lastly, I attempt to predict their future development. The thesis contains a theoretical and a practical part. The theoretical part consists of three chapters and the last two chapters are practical. In the first chapter, I attempt to describe the financial market and provide a theoretical definition of supervision. Next, I focus on regulation, supervisors and supervised entities. Finally, I also deal with the purpose and aims of financial supervision. A well-defined terminology is crucial to any study involving financial market supervision. In the second chapter, I discuss three basic models of financial market supervision I recognize in the European Union member states. In the third chapter, I focus on the role of the financial market supervisors, their responsibilities and independence. In the fourth chapter, I describe the structure of financial markets in each member state of the European Union from 2001 to 2015. Furthermore, the purpose of this chapter is to collect data for the next chapter. In the fifth chapter, I analyze and compare financial market supervision models of the European...
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