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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...

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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...

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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...

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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...

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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...

Legal alert

Amendments to Agricultural System Act

On 9 May 2019, the upper house of the Polish parliament (the Senate) adopted, without revisions, the Act of 26 April 2019 on Amendments to the Agricultural System Act and Selected Other Acts (the “Amendment”). The Amendment was subsequently signed by the Polish Presiden...

Legal alert

Breaking down employee capital plans

From 1 July 2019 the largest employers will have to enable their employees to enrol in employee capital plans. Employee capital plans (referred to by their Polish acronym “PPK”) were introduced by the Employee Capital Plans Act of 4 October 2018 [Ustawa z dnia 4 paździ...