Financial sanctions under environmental law
Administrative fines and increased fees for exploitation of the environment are increasingly included in environmental regulations as sanctions.
The corporate charter of the target should be reviewed before the transaction
Comments on restrictions on the sale of shares under a company’s articles of association or statute.
Proposed changes in merger control regulations
On 15 May 2012, the Polish competition authority published a white paper proposing amendments to the Act on Competition and Consumer Protection of 16 February 2007.
Validity of contracts when a party is not properly represented
One of the conditions for the effectiveness of a contract is proper representation of the parties when the contract is concluded. In other words, it matters who signs the contract.
Is the Alternative Investment Fund Managers Directive already in force in Poland?
Poland has yet to adopt regulations implementing AIFMD, but that does not mean that nothing will change on the Polish market for private equity and closed investment funds in the next few months, before the new regulations are enacted here.
When is a company prohibited from paying out money to its shareholders?
Risks connected with shareholders’ receipt of money from a limited-liability company out of the assets necessary to cover the share capital.
Return of the tax avoidance clause?
Discussion is underway on guidelines for proposed amendments to Poland’s Tax Ordinance. The most important changes proposed include introduction of a tax avoidance clause, safe harbour opinions, and a Tax Avoidance Council.
Transfer of rights and obligations under commercial contracts
Comments on statutory and contractual restrictions on the assignability of agreements.
Work schedules: A new obligation of employers
The recent amendment of the Polish Labour Code introduced a requirement for employers to prepare work schedules for all employees. The new rules raise new doubts surrounding organisation of working time without eliminating the existing doubts.
Settlement of overtime pay may take up to a year
Under the amended provisions of the Polish Labour Code, in effect since 23 August 2013, employers are now permitted to apply approaches to determining employees’ working time that are more flexible than under the previous law.
Changes in working time regulations: Flexible but problematic
An amendment to the Polish Labour Code effective 23 August 2013 changed the regulations concerning working time. The new rules, allowing highly flexible working arrangements, carry over solutions previously in effect under the Anti-Crisis Act.
Is it worth risking inaccurate statements in the representations and warranties?
In transactions involving the sale of shares in companies in Poland, as well as agreements on sale of enterprises or significant assets, the representations and warranties of sellers are becoming more and more extensive.
