As of March 8 2006, the Czech Republic implemented the EU Prospectus Directive (2003/71/EC) by way of amendments to the Czech Capital Markets Act and the Czech Act on Notes. Accordingly, for the purposes of a public offer or admission to a regulated market, the prospectus approved by the competent authority of the issuer's home EU state, or the EU state where the security was first publicly offered or admitted to the regulated market (which may be different from the issuer's home state), is generally also valid in the Czech Republic (and any other EU member state). Numerous foreign issuers (banks and real estate investors) have already made use of this option to easily expand the territory of their securities offers, mostly to the central European region.
September 30 2006