Squeezeout and buyout under the new Holding Law
On 12 April 2022, the new Holding Law was published in the Polish Journal of Laws, introducing into the Commercial Companies Code new regulations on the activity of corporate groups, including the possibility to squeeze out minority shareholder’s stakes in subsidiaries.
The Holding Law in practice: Do companies need to amend their articles of association?
The recent amendment to the Commercial Companies Code introduces a number of important changes for companies, especially companies operating within corporate groups. This raises the question of whether companies should adapt their corporate documents to reflect these changes.
New provisions on by-products
The amendment to the Waste Act which is to come into force at the beginning of 2022 implements the amended Packaging and Packaging Waste Directive into the Polish legal system and constitutes a step towards a circular economy. One of the more significant changes relates to by-products.
Minister of Infrastructure takes first step on new offshore wind permits in Poland
On 1 December 2021, the Minister of Infrastructure published a long-awaited regulation on evaluation of applications for licences to erect artificial islands (offshore location licences). Investors who obtain permits will be able to participate in future auctions for offshore wind farms.
The new Developers Act: What will change?
During the decade after the current Developers Act entered into force in Poland, it was repeatedly argued that its provisions were vague or diverged from the market reality, so that the act did not live up to the hopes placed in it. As a result, in the last few years, work was undertaken to introduce a new law to fill the existing gaps and, above all, provide greater protection for buyers of residential units and single-family houses.
Reservation agreement: What shape will it take under the new Developers Act?
One of the new features of the new Developers Act is comprehensive regulation of the reservation agreement, so far not governed by separate provisions. It is worth thoroughly analysing the shape the drafters decided to give to this type of agreement when introducing it officially into the Polish legal system.
New rules for handover of residential units and single-family houses
On 1 July 2022, most of the provisions of the new Developers Act will come into force. One of the changes is to make the handover procedure for a residential unit or single-family house more detailed, and to introduce new rights for buyers. The new rules are particularly controversial among developers.
Change of information obligations of banks in the new Developers Act
The new Developers Act substantially modifies the rights and obligations of banks in connection with real estate developments. The new regulations significantly increase the scope of rights and obligations of banks, which will entail a greater expenditure of time and effort on their side. Thus the new rules may increase the cost of banks’ participation in the execution of residential developments.
Date of entry into force of the new Developers Act and transitional provisions
Analysis of the transitional provisions of the new Developers Act is complicated and unfortunately does not lead to unequivocal conclusions. Indeed, we believe these provisions should be amended immediately to remove doubts, so that developers can prepare for application of the new law and avoid litigation in the future.
The amendment to the Administrative Procedure Code of 11 August 2021: What does it actually mean, and does it live up to the declarations of the authorities?
The provisions of the Administrative Procedure Code amended on 11 August 2021 regarding the time limits for invalidating administrative decisions or finding that they were issued unlawfully will come into force on 16 September 2021. What are the real consequences of this amendment? They seem inconsistent with the pronouncements of Poland’s highest state authorities.
“Slim VAT 2”: Another reform of VAT settlements
On 19 August 2021, the President of Poland signed an act introducing a number of simplifications to VAT settlements. The changes are intended to improve taxpayers’ liquidity in connection to VAT settlements, deformalise certain procedures, and implement decisions of the Court of Justice of the European Union in cases lost by Poland.
Tax strategy: A step toward transparency or just more red tape?
Tax strategy: A step toward transparency or just more red tape?
Despite the difficulties this year, Polish lawmakers did not forget about their annual update of tax laws. Under the recently adopted regulations, the Treasury will seek to learn more about taxpayers by requiring them to draft, file and even publish a tax strategy. Is this a move toward transparency for the country’s largest companies, or another unnecessary formality?
Despite the difficulties this year, Polish lawmakers did not forget about their annual update of tax laws. Under the recently adopted regulations, the Treasury will seek to learn more about taxpayers by requiring them to draft, file and even publish a tax strategy. Is this a move toward transparency for the country’s largest companies, or another unnecessary formality?
