Business Bulletin No. 1/2010

The first issue of Randls Business Bulletin is a regulate update of legal news chosen by the Randl Partners law firm related to doing business, business law and real estate law. We will generally issue Randls Business Bulletin every 3 months, always focusing on current news from legislation and case law.First issue of Randls Business Bulletin covers legal news between 1 January and 31 March 2010; in particular we look at two amendments to acts affecting unfair competition and consumer law. We also discuss an amendment to the Act on Banks and a related increase in the amount of guaranteed compensation for deposits in banks which cannot fulfill their duties to the depositor. Another pertinent issue concerns the proposed acts on lobbying and on business corporations, which has yet to be passed. In the real estate sector we call your attention to an amendment to the Foreign Exchange Act and how it affects the possibility for foreigners to own real estate in the Czech Republic. Finally we look at a key decision of the Supreme Court of the Czech Republic, from the first quarter of 2010 which highlights the importance of registering in the Commercial Register all changes of persons acting on behalf of the company.

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