Kategorie: Business Law
How to remedy unauthorized executive’s sole legal acts
In practice, it sometimes happens that a company is represented by only one member of its executive body (hereinafter the “executive”), although, according to the entry in the Commercial Register, joint representation by two or more executives is required. What a company should do if an executive has violated the “four eyes” principle, which is …
Read moreUpcoming amendment to the Czech Act on Significant Market Power
Following the adoption of the Directive 2019/633 of the European Parliament and of the Council on unfair trading practices in business-to-business relationships in the agricultural and food supply chain (the “Directive”), a draft law amending the Czech Act No. 395/2009 Coll., on significant market power in the sale of agricultural and food products and its …
Read moreLegal regulation of the register of beneficial owners awaits changes
The existing legislation on the registration of ultimate owners has not yet fully met the presumed expectations, particularly in its contribution to the fight against money laundering or the prevention of conflicts of interest. Business corporations were obliged to register their beneficial owner in the Register of beneficial owners by 1 January 2019, but only …
Read moreNew Directive on Restructuring and Insolvency shall ensure that entrepreneurs – individuals have a possibility to achieve a full discharge of debt
A new Directive on Restructuring and Insolvency (hereinafter the “Directive”) [1] entered into force on 16 July 2019. Not even three months after the large-scale domestic regulation concerning discharge of debt came into effect it is sure that there will be further changes in this area in the next two years.[2] The expected adjustments will …
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