K REGULACI FINANČNÍ ASISTENCE V AKCIOVÉ SPOLEČNOSTI
On Regulation of Financial Assistance in a Joint-stock Company

Summary/Abstract: New Czech regulation of providing of financial assistance by joint-stock companies basically keeps within the framework which was reserved to national legislators by the European legislator in the amended clause 23 of the Second Directive. An important and a positive fact is that the financial assistance was eventually legalized in the Czech Republic and that the new legislation does not excessively impede providing of financial assistance, it means that the Czech legislator did not approach to a dramatically stricter regulation than is the regulation in the European company law which is a fact in some other areas of the law of joint-stock companies. Main objections to regulation of financial assistance should be addressed to the European legislator because the amended wording of clause 23 of the Second Directive raises doubts about practical applicability of financial assistance. So a question about the general purpose of regulation of financial assistance is still open because we cannot say that the amendment of the Second Directive has explained and reasoned namely economical grounds for necessity of regulation of financial assistance more closely.

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