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Legal alert

Excessive requirements for members of supervisory boards at joint-stock companies

The basic obligation of the supervisory board is to oversee the activities of the management board, so that it acts in compliance with applicable laws, good practices and the company’s best interest. Based on the draft bill amending the Code of Commercial Companies, the...

Coronavirus alert

Legal alert: Restrictions on business operations in retail developments

Restrictions on business operations in retail developments with a sales area of over 2,000 square metres, introduced under the Regulation of the Council of Ministers of November 06, 2020 Below you will our analysis of the Regulation of the Council of Ministers, dated N...

Legal alert

act BSWW proposes legislative changes: suspension of obligation to file for bankruptcy

With works underway to revise the so-called Anti-Crisis Shield, act BSWW has proposed that the amended legislation should include a provision suspending the obligation to file for bankruptcy. The issue is discussed in detail in the article of March 25, 2020 by Barbara S...

Legal alert

Significant changes for public limited companies and partnerships limited by shares in 2020

A commercial companies and partnerships code amendment, providing for dematerialization of shares, is to take effect on 1 January 2021. From the beginning of 2021, entries in shareholders registers, kept by entities which are authorized to maintain securities accounts ...

Legal alert

New obligations for bond issuers

By 31 March 2020, any issuer of bonds which have not been redeemed before 1 July 2019 will be required to file, with KDPW, an electronic report of the debt owed to the holders of such bonds as at 31 December 2019. New developments Following the enactment of the Act on...

Legal alert

Regulations on combating payment backlogs and new rights of the UOKiK President enter into force on 1 January 2020

The new regulations meant to combat payment backlogs will enter into force on 1 January 2020 under the Act of 19 July 2019 on Amendments to Selected Other Acts (Ustawa z dnia 19 lipca 2019 roku o zmianie niektórych ustaw w celu ograniczenia zatorów płatniczych). The reg...

Legal alert

New Obligation for Public Companies: Adoption of Compensation Policy

Companies with at least one share admitted to trading on a regulated market are now required to pay compensation to management board and supervisory board members exclusively on the basis of adopted compensation policy. What Will Change? On November 30, 2019, a law wa...

Legal alert

Central Register of Beneficial Owners: new obligation for companies since October 13, 2019

Effective as of October 13, 2019, the Anti-Money Laundering and Counter-Terrorism Financing Act of March 01, 2018 (Dz. U. / Journal of Laws of 2019, item 1115, hereinafter referred to as the “AML Act”) introduces regulations that implement the Central Register of Benefi...

Legal alert

New rules for public offerings

Prospectus Regulation (no. 2017/1129) takes effect – changes and transition period for capital markets Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 on the prospectus to be published when securities are offered to the public or...

Legal alert

New obligations of partnerships and companies: Central Register of Beneficial Owners

The Central Register of Beneficial Owners (hereinafter referred to as the “Register”) is supposed to be implemented in Poland on October 13, 2019. This is related to the Anti-Money Laundering and Counter-Terrorism Financing Act, which came into effect as of July 13, 201...