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Property structure of SICAV from the perspective of corporate law
Bezděková, Anna ; Čech, Petr (advisor) ; Eichlerová, Kateřina (referee)
- 1 - Property structure of SICAV from the perspective of corporate law Abstract This thesis focuses on selected property aspects of a joint stock company with variable capital (SICAV), which are analysed from the perspective of corporate law. Specifically, the thesis deals with the institutes of the assets and liabilities (jmění) and capital of a SICAV. A SICAV is a special type (subtype) of joint stock company which can only act as an investment fund. Its regulation can therefore be found in the Investment Companies and Investment Funds Act (zákon o investičních společnostech a investičních fondech). It does not, however, lose the characteristics of a "regular" joint stock company; therefore, the Business Corporations Act (zákon o obchodních korporacích) and, where applicable, the Civil Code (občanský zákoník) apply in cases where Investment Companies and Investment Funds Act does not provide otherwise. This two-tiered subsidiarity of the SICAV legal regime gives rise to some interpretative ambiguities, which are discussed in the thesis. The thesis also provides a general interpretation of the concept of assets and liabilities and capital. First, the thesis discusses the institution of the SICAV's assets and liabilities. This can be broken down into two subsets, namely investment and non-investment...
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The joint stock company with variable capital
Janoušek, Tomáš ; Seknička, Pavel (advisor) ; Hraba, Zdeněk (referee)
Investment Company with Variable Capital (SICAV) The thesis elaborates on the Czech regulation of the investment company with variable capital ("SICAV"). It is divided into six chapters. In chapter one, the theory of collective investments and its practice in the Czech Republic is described, along with data of the use of SICAVs. Next, the legislation concerning SICAVs, and reasons for its introduction, are summarised. Chapter three includes the definition of Czech SICAV and its features as an investment fund and join-stock company. In chapter four, the variability of its capital is discussed in broader context of the Czech law system, which is based on a different conceptual approach, and also the capital requirements of SICAVs are mentioned. Chapter five concerns with the obligatory division of assets of Czech SICAVs, leading to the last chapter describing the founders' and investment shares, and rights of shareholders tied to them. The primary aim of the thesis, in context of an absence of any thorough publications on Czech SICAVs, is to provide a comprehensive description of the distinctive character of Czech SICAVs, and on this basis to point out the parts of legislation that are not set appropriately. In these cases, a specific interpretation of problematic parts of regulation is suggested, and in case...
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