Business Corporations Act 2021
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Year 2021 brings us the most extensive changes in the Czech corporate law since 2014. Allow us to guide you through the changes in the Business Corporations Act that we shall follow as of 1 January 2021.
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Critical Attention
- Acting with due managerial care
- Obligation of a legal entity as a member of appointed body to authorise a specific individual as its representative
- A transfer or a pledge of an enterprise or a part of assets and liabilities
Profit share in LLC
- Executive Service Agreement and remuneration of members of appointed bodies
- Repeal of the Statutory Director position - what does it mean for joint-stock companies
- Additional voting at General Meeting – restrictions
- Review and amendment of Articles of Association
Major Attention
- Changes in the legal regulation of business shares
- Distribution and payment of profit and other own resources
- Business groups and related parties' reports
- Threat of company dissolution for failing to file financial statements in the Collection of Deeds
- Amending the Articles of Association "remotely“
- Strategic and conceptual instructions of the General Meeting
- Objection and invalidity or General Meeting resolutions
- Resigning from appointed company body offices
Minor Attention
