The operation of a branch as a "mortgage bank" to the extent that a "mortgage bank" is an institution authorised to issue mortgage securities on domestic markets, which is reserved to financial institutions incorporated under domestic law
"Mortgage Bonds
Article 28 [...]
(2) Mortgage bonds may be issued only by a bank pursuant to a special legal rule governing the activity of banks with its registered office in the Czech Republic (hereinafter "issuer of mortgage bonds"). [...]" (Act on Bonds 190/2004 Coll. of 1 April 2004, as amended by 183/2017 Coll..)[repealed by Act No. 307/2018 Coll].
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"CZECH REPUBLIC
List A, I/A Direct investment:
– In the country concerned by non-residents. [...]
Remark: The reservation applies to: [...]
ii) the operation of a branch as a "mortgage bank" to the extent that a "mortgage bank" is an institution authorised to issue mortgage securities on domestic markets, which is reserved to financial institutions incorporated under domestic law;[...]" (OECD (2021), Code of Liberalisation and Capital Movements, Paris)
Act on Bonds 190/2004 Coll. of 1 April 2004, as amended by 230/2008 Coll.
OECD (2021), Code of Liberalisation and Capital Movements, Paris.
[<a href="https://www.ebrd.com/downloads/legal/securities/czbond.pdf">Act</a>],[<a href="https://www.mfcr.cz/assets/cs/media/Zakon_2019-01-04_Bonds-Act-040119-EN.pdf">Act</a>],[<a href="www.oecd.org/investment/codes.htm">Code</a>]