05 | 01 | 2017

Important changes in joint commercial proxies

An amendment to the Polish Civil Code has created new types of commercial proxies but also raised doubts about the legitimacy of joint commercial proxies granted before the new legislation came into force.

16 | 12 | 2016

Tax sanctions imposed on cash transactions over PLN 15,000 from 1 January 2017

As of 2016, the limit for cash transactions is EUR 15,000, and there is no tax sanction for violating this limit. All of this will change from 1 January 2017.

15 | 12 | 2016

Amendment of the Payment Services Act: Basic accounts and payment schemes

The amendment of the Payment Services Act is intended to implement the Payment Accounts Directive into the Polish legal system and to adapt Polish law to the Interchange Regulation. In addition to achieving compliance with EU regulations, the new provisions introduce a new type of regulated activity, as operators of payment schemes will be required to obtain approval from the head of the central bank.

09 | 12 | 2016

Legal consequences of improper selection of the auditor to examine a company’s financial statement

It sometimes happens in practice that auditors proceed to examine a company’s annual financial statement before they are formally selected by the competent authority of the company. Can this practice have negative consequences?

09 | 12 | 2016

Can merger or reorganisation of a company eliminate the risk connected with acquisition of its defective shares?

In M&A, one of the key elements of due diligence prior to conducting a share deal is verifying legal title to the company’s shares. Any irregularities discovered in this respect can represent a significant risk for the potential acquirer of the shares. Can a merger or change in corporate form eliminate this risk?

02 | 12 | 2016

The requirement to hire workers under employment contracts in public procurement

Following the July 2016 amendment to the Public Procurement Law, contracting authorities must indicate which activities during performance of a public contract fall within the definition of an employment relationship under Labour Code Art. 22 §1. They must also require contractors to hire persons performing those activities on the basis of an employment contract and verify that the contractors are in compliance with this obligation.