31.7.2003
No items found.

Treaty of Accession

(This note is based on the informal version of the Treaty of Accession as made available on www.europa.eu.int . The Treaty of Accession should be published in the Official Journal of the European Union during the second half of 2003.)

The Treaty of Accession has been concluded between the existing fifteen Member States of the European Union and ten countries, including the Czech Republic. From 1st May 2004, the foreseen date of accession, new Member States become subject to European Community law ("EC law") and are required to implement existing EC law. The Act of Accession attached to the Treaty of Accession refers to annexes and protocols, all of which form an integral, and equally binding, part of the Treaty of accession. Declarations and exchange of letters appended to the Treaty of Accession are not legally binding.

Annexes to the Act of Accession may be generally applicable, such as for example, most of Annex II, Annex III and Annex IV, regarding adaptations of EC law, or may contain transitional measures specific to one country, such as Annex V for the Czech Republic. There are ten Protocols dealing each with specific matters, such as the restructuring of the Czech steel industry (Protocol 2).

The Act of Accession also provides for specific procedures regarding state aid (in particular Annex IV, section 3 "Competition law").

Separately, it contains a safeguard clause enabling the Commission to take, under certain conditions, "appropriate measures" if a new Member State causes a "serious breach of the functioning of the internal market" or "a risk of such breach" as a result of failing to implement EC law (Article 38). Conversely, a new Member State may, in duly substantiated cases apply before 1st May 2004 for "temporary derogations" from EC law adopted between 1st November 2002 and the date of signature of the Treaty of Accession (16 April 2003) (Article 55).

Other articles

28.7.2025
News

Smetanova Litomyšl Comes to a Close with Music and a Message of Solidarity

This year’s edition of the Smetanova Litomyšl festival concluded with the concert Grand Finale – An American Story, held under the patronage of our firm. In addition to delivering a remarkable musical experience, the evening also served a charitable purpose: proceeds supported the Olga Havel Foundation (Výbor dobré vůle – Nadace Olgy Havlové), helping young people from disadvantaged backgrounds pursue their education.
8.7.2025
News

Advising J&T on the preparation of another bond programme – the Europacity Berlin project.

KŠB provided legal advice to its long-standing client, the J&T group, in connection with the preparation of another bond programme, this time related to the Europacity Berlin project. The base prospectus has already been approved by the Czech National Bank, and the first final terms have been prepared for an issue in the amount of CZK 3 billion. The advisory team at KŠB included Josef Kříž, under the partner supervision of Martin Krejčí. Vlastimil Pihera.
7.7.2025
News

A Distinguished June Visit to KŠB: Gisela Bergmann, Princess of Liechtenstein

Before the start of the summer holidays, we had the honour of welcoming an exceptional guest to our Prague office – Gisela Bergmann, Princess of Liechtenstein, CEO and managing director of Industrie- und Finanzkontor Ets., a leading Liechtenstein-based trust company with a long tradition and extensive experience in protecting family wealth and values.