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Liability for binding instructions in the proposed holding law
According to the government bill to amend the Commercial Companies Code, a parent company could issue binding instructions to a subsidiary if justified by the interest of the corporate group and not barred by specific regulations. The new powers of a parent company are balanced by provisions regulating its liability for injury caused in connection with issuing binding instructions.
Holding law: Proposed amendment to the Commercial Companies Code
On 2 September 2021, a government bill to amend the Commercial Companies Code and other acts was submitted to the Sejm for a first reading. Among other things, the bill would introduce new principles into the Polish legal system in the form of a holding companies law, regulating the cooperation between parent companies and their subsidiaries. The rules for liability of management board and supervisory board members are also to be amended, vesting broader powers in supervisory boards to make corporate governance more effective.
Increased activity of the Polish data protection authority
Last year ended with a series of fines imposed by the President of the Personal Data Protection Office. They show the importance of taking take care of data security—and how costly it can be if you don’t.
Fate of retail sales tax hangs in the balance
The Retail Sales Tax Act entered into force on 1 September 2016, but so far the state has not raised a single zloty from the tax. Since the European Commission filed an appeal on 24 July 2019 against the judgment of the General Court, the first collection of the tax has been further postponed.