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„Svěřenský fond“– Trust fund“
Daring New Legal Transplant in the Czech Law
Kateřina Ronovská
Faculty of Law, Masaryk University, Brno
The Czech Republic

www.law.muni.cz
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RECODIFICATION OF PRIVATE LAW (2014)
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nFundamental changes („revolution“) on this field
nFormulation of fundamental principles, „back to the european roots“
nUnification in the area of private law
nStrengthening of the autonomy of the individual´s will
nInspiration in the foreign legal regulations
n(primarily Austrian, German, Swiss, Quebec, Dutch)
n

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„Revolution“ in the area of private law
nCivil Code n. 89/2012 Coll.
n - n. 90/2012 Coll. on business corporations
n -  n. 91/2012 Coll. on international private law
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nHundreds of acts and regulations were repealed
n (the Civil Code itself – 238)
nAlmost hundred of acts and regulations were amended
n - new Land Registry Act
-new Legal Persons Registry Act
-new court procedings (n. 292/2013 Coll.)
-changes in tax law
n

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Structure of the NCzCC: 3081 provisions
n general part
n family law
n absolute property rights
n - property rights (iura in re)
n - law on succession
n relative property rights
n - general obligation law
n - obligation from contracts and quasi contracts
n - obligation from delicts and quasidelicts
n final provisions
n

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Svěřenský fond – Trust fund
ninspiration in Trust/fiducie (Quebec)§ 1260 CCQ
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nstrange concept for Czech legal enviroment – problems
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ndifferent concept of ownership/patrimony
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n„Fear of the unknown“ – getting better/more regulation
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nquestion, if not better solution f.e. – Austrian Private Foundation (the same function)
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-
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Trust fund, what is it?
nRelationship (obligation)? Set of obligations?
nProperty? Way of „holding“ property?
nPerson? Legal entity?
nor Something else?
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n„….one cannot define the essence of an institution as a series of relationships among three people
when none of those people is essential to its existence ”.
n (Pierre Lepaulle, 1932)
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Art. 1448 NCzCC
(1) Un fonds de fiducie est formé par le détachement d'un patrimoine de la propriété d'un
constituant de façon telle, que celui-ci confie le patrimoine au fiduciaire dans un but particulier
par un contrat ou établissement pour cause de décès et le fiduciaire du fonds de fiducie s'engage à
entretenir et administrer ce patrimoine.
 (2) La création d'un fonds de fiducie donne naissance à une propriété distincte et indépendante du
patrimoine détaché et l'administrateur de la fiducie de placement est obligé de se charger de ce
patrimoine et de sa gestion fiduciaire.
 (3) Le droit de propriété à l'égard d'un fonds de fiducie, est exercé en son nom sur un compte de
fonds de fiducie ; le patrimoine placé dans le fonds de la fiducie cependant n'est ni la propriété
du fiduciaire, ni celle du constituant, ou de la personne qui doit être satisfaite à partir du
fonds de fiducie.

Art. 1448 NCzCC
(1) A trust fund is created by setting aside part of the property owned by the founder in such a
way that the owner entrusts the administrator/trustee with the property for a particular purpose
through a contract or disposition mortis causa, and the administrator/trustee obliges himself to
keep and administer the property.
 (2) The creation of a trust fund establishes separate and independent ownership of the part of
property and the trustee is obliged to assume the property and its administration.
 (3) The rights arising from the right of ownership in the property in a trust fund are exercised
by the administrator/trustee in his own name and on the account of the trust fund; however, the
property in a trust fund is not owned by the administrator/trustee or the founder, or the person
entitled to receive a performance from the trust trust.

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Art. 17 NczCC
(1) Seule une personne peut avoir des droits et les exercer. Une obligation ne peut être imposée
qu'à une personne et il est seulement possible d'exiger à son égard d'exécuter l'obligation.

(2) Si une personne établit un droit ou impose une obligation à celui qui n’est pas une personne,
le droit ou l’obligation est imputé à une personne à laquelle il appartient selon la nature du cas
juridique.
Art. 17 NczCC
(1) Only persons may have and exercise their rights. Duties may only be imposed upon and their
performance enforced against persons.

(2) If anyone creates a right or imposes a duty upon something other than a person, such a right or
duty shall be attributed to the person to whom it belongs according to the legal nature of the
case.

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Where are we now? How it works?
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nAmendment of te NCzCC – registration of the trust funds
nDevelopments in the tax regime?
nRegulation of trust industry (trustee act)?
nPreventing the abuse of the trust-like vehicles? – AML directives
nSigning Haague convention?
nECJ/EFTA court case law (Panayi trust, Olsen and others)
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n

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Cross-border aspects of Trust (like) instruments in Continental Europe
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nDate: Thursday 26.5. 2022 from 9:00 to 14:00
nVenue: Faculty of Law at Masaryk University, Veveří 70, Brno,Room no. 034
nConference program:
n9:00 Opening speech Kateřina Ronovská
n9:15 Foreign Trust/Trust-like instruments in the Czech Republic: mostly recognized and (sometimes)
registered - Vlastimil Pihera n10:10 Czech trust funds and their recognition in certain common law
trust jurisdictions (e.g. Jersey, Guernsey, Cayman Islands) and practical aspects of transfer of
governing law of trust Mirek Gruna
n11:00 Coffee break
n11:30 Cross-border restructuring of foundations in Europe - Alexandra Butterstein n12:20 Between
common law and civil law: the metamorphosis of the trust- Niels Appermont-
n13:10 Closing speech and informal discussion
nEach topic will be followed by a discussion.
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Conclusions:
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n„Trust-like“ vehicle, concept unique in Europe (inspirated by CCQ)
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nOnly a time and legal practice will show of and how this new legal transplant will cope in the
Czech legal system
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nInspiration for others?
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nThank you very much for your attentionJ
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n katerinaronovska(et)gmail.com