Archives: Legislation Update

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New Whistleblower Protection in the EU – Time to Reshape The Compliance Programmes of Czech Companies

By Nikola Klimova on Posted in Compliance, Corporate, Criminal Law, Legislation Update
In October 2019, the Council of the European Union formally adopted a new Directive for the Protection of Whistleblowers, requiring both private and public organisations to create safe channels for reporting across a wide range of areas, including public procurement, financial services or money laundering. Member States will have two years to transpose the Directive … Continue Reading

A Christmas gift from the Czech Government – Will the New Czech Building Act speed up the construction permitting process and help boost residential construction?

By Markéta Topinková on Posted in Legislation Update, Real Estate
The Czech government has published draft of the new Building Act as a major tool to speed up the construction permitting process in the Czech Republic. The Czech Ministry of Regional Development set a deadline until Christmas 2019 for any comments or objections to the prepared draft bill. The bill was prepared not long after … Continue Reading

New era for the Czech Republic’s eGovernment services – BankID is on the horizon

By Maros Kandrik on Posted in Digitalization, Electronic Communication, FinTech, Legislation Update
The framework of digital identity is about to be revolutionized in the Czech Republic. A group of deputies is proposing a bill that will allow banks to participate in the state digital identity scheme. Bank ID is intended to be used to access eGovernment services but also some services in the private sector.… Continue Reading

Important Changes in Czech Corporate Law Introduced by the Proposed Amendment to the Czech Business Corporations Act

By Karolina Karnikova on Posted in Corporate, Legislation Update
As of 1 January 2014, the Czech Republic has enacted new legal rules regarding the corporate law presented in the act no. 90/2012 Coll., Business Corporations Act (the “BCA”). Meanwhile the new regulation was settling in, the practice has discovered a number of gaps and shortcomings of the new law and thus the lawmakers has … Continue Reading

Another step forward towards the collective redress mechanism in the Czech Republic

By Tamara Koresova on Posted in Dispute Resolution, Legislation Update, Uncategorized
Last year, the Czech Ministry of Justice published a draft Act on Class Actions (“Act”), which was created in the aftermath of European Commission’s proposal to enact a directive on representative actions. Although the European Commission’s proposal is aimed at boosting consumer protection in the European Union, the Czech draft Act goes one step further … Continue Reading

Final Amended Version of Renewable Energy Sources Act in Poland is Now Pending the President’s Signature

By Igor Hanas on Posted in Energy, Legislation Update, PV, Renewable
On August 2, the Senate – the upper house of the Polish Parliament – passed the law amending the Renewable Energy Sources (RES) Act and certain other laws, which is now pending the President’s signature. We addressed this issue in our posts published on June 7, 2019 and June 11, 2019. Compared to the drafts … Continue Reading

Renewable Energy Sources Act Amendments in Poland – Additional Arrivals to Governmental Legislation Center in June, Continued

By Igor Hanas on Posted in Energy, Finance, Investments, Legislation Update, PV, Renewable
Things are gaining momentum. In our post of June 7, 2019, we wrote about the major changes to the draft Renewable Energy Sources Act (RES) posted on the government website on June 5. Not long thereafter, a new supplemented version 6 appeared. We believe one new development is worth our attention. By Way of Introduction, … Continue Reading

Debt financing in Poland –New Developments

By Marcin Wnukowski on Posted in Banking, Finance, Legislation Update, Transactions
The Polish Parliament has recently adopted a new law implementing certain changes to the Polish financial system (“the Act”).[1] The aim is to strengthen supervision over capital markets and improve protection of investors, but it will significantly impact the timing and cost of raising capital through debt securities offered outside the public market. The new … Continue Reading

High Court in Prague sheds some light over the definition of a significant part of an enterprise 

By Maros Kandrik on Posted in Contracts, Corporate, Legislation Update, Transactions
Like any other major change of legislation, the recodification of Czech private law in 2014 has raised a long list of interpretation issues. At the end of August 2018, the High Court in Prague outlined (since the decision has not yet been confirmed by the Supreme Court) an interpretation with respect to one of the … Continue Reading
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