Sale of immovable assets

In the area of property transfers and transfers of the right concerning the management of disposable assets managed by SŽDC, state organization, and the assets specified in Annex No. 2 to Act No. 77/2002 Coll., they can be divided into 2 categories.

The categories of asset transfers are following:

A)
Assets specified in Annex No. 2 to Act No. 77/2002 Coll., which were transferred to SŽDC, state organization with the Amendment to Act No.77/2002 Coll. coming into force, and which were not advertised for privatization.
A strategy was decided on, suggesting a principle that unless a privatization project is developed for the assets and the Ministry approves the privatization, the sale is effected regardless of Act No. 92/1991 Coll.

In most of the 28 respective cases, a business public tender for the acquirer was anticipated and advertised as well, where the decisive criterion was the amount of the purchase price.

B)
1) Disposable assets managed by SŽDC
– the sale of these assets to another corporate body or natural person abides by Act No.77/2002 as amended.

Pursuant to this act, the disposal of SŽDC´s assets representing the railway infrastructure is specified only in § 20, art. 4 as follows:

“SŽDC, state organization, is not allowed without the consent of the government to use the assets representing the railway infrastructure as the subject of investment in another company, right of lien, liability or the contract of purchase“.

In practice, this means that any sale of property that has been transferred to SŽDC's management rights and which will be proven to be unnecessary by a negotiation for the further operation of the railway infrastructure, SŽDC, s.o. has to submit to the Ministry of Transport to grant the consent of the Government of the Czech Republic in the form of separate requests for each particular case, following the approval of the Administration Board of SŽDC, s.o.
Such discussed and submitted applications for the consent to the transfer of the permanently disposable assets will be submitted through the establisher, i.e. the Ministry of Transport, to the Government to approve the sale. Prior to discussions in the Government, the Ministry of Transport ensures each case to be discussed at an interdepartmental level.

2) The transfer of the right of management to other state organizations, state-owned enterprises, state contributory organizations etc. where the assets remain the property of the Czech Republic. The transfers of the right of management are effected for payment for a price set by an expert opinion, whereas the minimum price would be the price recorded in the accounting.

In these cases, the government's consent is not necessary, as the property remains the property of the Czech Republic. (Confirmed by letter of the Ministry of Transport No. 194/2003-410-HO/1 of 12 August 2003). Therefore, the transfers of the right of management can be executed immediately after the approval given by the Administration Board of SŽDC, state organization, by concluding a contract for payment transfer of the right of management or by concluding a contract for the future contract for payment transfer of the right of management if the assets had not been signed over to SŽDC, state organization in the cadastre.

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