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 does not approve the privatization, the sale is effected regardless of Act 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“.

It basically means that every sale of the assets which were transferred to SŽDC, and when a decision was taken that these assets would no longer be needed for further operation of the railway infrastructure, must be submitted by SŽDC, state organization in the form of separate applications for each specific case through the Ministry of Transport to be approved by the Czech Government (after obtaining the consent by SR SŽDC, state organization).
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 be discussed at an interdepartmental level.

2) The transfer of the right concerning the management to other state organizations, state enterprises, state allowance organizations etc., when the assets remain the property of the Czech Republic. The transfers of the right concerning the 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 those cases, the consent of the government is not required as the assets remain the property of the Czech Republic. (verified by the letter of the Ministry of Transport No. 194/2003-410-HO/1 dated 12.8.2003). The transfers of the right concerning the management can thus be executed immediately after the consent is given by SR SŽDC, state organization, by concluding a contract for payment transfer of the right concerning the management or by concluding a contract for the future contract for payment transfer of the right concerning the management if the assets were not signed over to SŽDC, state organization in the real estate cadastre.


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