Czech Republic

1. EEA UCITS Scheme

EEA Management Companies may exercise passporting rights for the marketing of an EEA UCITS Scheme in the Czech Republic provided that the requirements of Act No. 240 / 2013 Coll., on Management Companies and Investment Funds are met. Public marketing of an EEA UCITS Scheme is allowed only if the Czech National Bank (“CNB”) was duly notified and if the EEA UCITS Scheme fulfilled the conditions for marketing to the public, i.e. the provision of information to investors and the existence of a point of contact facility.

Notification

An EEA Management Company seeking to passport is required to notify their HMSA which will notify the CNB thereof within 10 working days of the receipt of the complete notification letter. The EEA Management Company must submit the notification letter along with fund rules / instruments of incorporation if they are not part of the prospectus, the latest existing annual or biannual report, the key investor information document (KIIDs) and the information on the point of contact facility. The notification letter itself may be submitted in English, the KIIDs must be attached in Czech, whereas the fund rules / instruments of incorporation and the prospectus, the latest existing annual or biannual report may be attached in English, Czech or Slovak.

Marketing in the Czech Republic may commence as soon as the HMSA has informed the EEA Management Company that its notification has been transmitted to the CNB.

Marketing and point of contact facility

If units of an EEA UCITS Scheme are publicly marketed in the Czech Republic, the EEA Management Company must ensure that a point of contact facility in the Czech Republic is established. The point of contact facility may be a bank, a branch of a foreign bank in the Czech Republic, an investment firm or a foreign entity providing investment services in the Czech Republic through its branch and shall be responsible for the purchase of the units, making payments to unit holders and providing documentation and information relating to the EEA UCITS Scheme. Information about the EEA UCITS Scheme must be published on the EEA UCITS Scheme website accessible to Czech investors in Czech or English.

When marketing the units of an EEA UCITS Scheme to the public, it is necessary to comply with the rules governing promotion (Article 242 et seq. of the Act on Management Companies and Investment Funds), as well as complying with the Czech Consumer Protection Act and the Czech Advertising Act.

If any party other than the EEA Management Company markets the EEA UCITS Scheme in the Czech Republic, they would be considered to be providing investment services. In that event, a license to perform relevant investment services in the Czech Republic is required.

2. Fees

There are currently no fees or charges applied by the CNB in respect of the notification procedure and marketing of an EEA UCITS Scheme in the Czech Republic.