On 5 November 2020, the first reading of the bill of the new Construction Act took place in the Chamber of Deputies of the Czech Parliament. It was assigned to committees with a hundred-day deadline to provide views on the new bill. The original draft was prepared in cooperation with the Czech Chamber of Commerce … Continue Reading
Updated on June 23, 2020 Like various other EU member states (e.g. Hungary, Czechia), Poland has finally adopted a new act intended to screen foreign direct investments in Polish companies. The new law (the “Amendment”) amends the Act on Control of Certain Investments of 2015 (more on this available here), but it will also materially extend … Continue Reading
As we recently observed in many states across the EU, national lawmakers have been coming up with bills that put in place mandatory non-EU FDI (foreign direct investment) approval requirements. The purpose of this legislation is to give state authorities competence to assess risks to national interests arising from such FDI and, if necessary, take … Continue Reading
Poland’s government has announced an economic stimulus package it values at PLN 212 billion to assist entrepreneurs and employees during the COVID-19 crisis. The package consists of 5 pillars: employee safety, company financing, health protection, strengthening the financial system and a public investment program.… Continue Reading
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
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
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
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
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
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
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
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
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
Many countries inside the European Union are still struggling to come up with clear regulations that would provide a predictable set of rules for the blockchain technology. However, smaller nations like Liechtenstein and Malta have sorted it out.… Continue Reading
