Setting up the Legislative Framework for the Introduction of a Regulatory Sandbox: the Czech Perspective
Setting up the Legislative Framework for the Introduction of a Regulatory Sandbox: the Czech Perspective
Author(s): Vladimír Sharp, Gabriela BlahoudkováSubject(s): Law, Constitution, Jurisprudence, Administrative Law
Published by: Univerzita Karlova v Praze, Nakladatelství Karolinum
Keywords: regulatory sandboxes; experimental lawmaking; legislative requirements; empowerment provisions; enabling clauses; statutory mandate; financial law; energy law; fintech; Innovation
Summary/Abstract: This paper delves into the intricate intersection of the phenomenon of regulatory sandboxes and public law and focuses on the issue of legislative empowerment for the establishment of a regulatory sandbox. Based on the example of the Czech Republic, which lacks a fully operational regulatory sandbox, the study investigates the legislative prerequisites for initiating such a framework. Using the qualitative doctrinal research, the authors examine diverse conceptual frameworks, aiming to identify the optimal legislative approach for implementing and sustaining a regulatory sandbox. Notably, the study scrutinizes the viability of constructing a regulatory sandbox under general administrative empowerment clauses within the Czech legal context, considering the principles of legality and intra vires doctrine inherent in continental administrative law. The research contributes insights to the ongoing discourse on regulatory sandboxes, providing a nuanced understanding of the legislative prerequisites for their operation, with a focus on the specific challenges and opportunities within the Czech regulatory landscape.
Journal: Acta Universitatis Carolinae Iuridica
- Issue Year: 70/2024
- Issue No: 2
- Page Range: 35-48
- Page Count: 14
- Language: English