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DHP LEGAL NEWS 1|2017 - For the first time

Company: Eversheds Sutherland

New private law has been valid in the Czech Republic for three years now. The new codes, the Civil Code and the Business Corporations Act introduced many useful new things, but also some ambiguities and problems. At the beginning many lawyers prophesied – and we ourselves expected – that the amendment would happen faster. After all, the talk was of an "urgent" amendment to the Civil Code. In retrospect, however, it shows that the practice of law is able to cope even where we had not imagined possible. For the first time, the two codes were amended at the end of last year (see details in a special issue of our Newsletter). We view the amendment positively; it is not too radical and focuses on what deserves to be amended. We hope that lawmakers will continue in their restraint and will not begin to amend the Civil Code at the same pace as the Income Tax Act or other unfortunate legislation. Much better to leave room for practice to find solutions and not make a political issue out of the civil codes. They will thus be better able to serve their users, i.e. all of us. This and an abundance of other good things we wish you in 2017.

Content of the newsletter:

CZ: Registration duty for trust funds and other changes
CZ: Employees on the supervisory boards of larger companies
SK: Damages for breach of competition law
CZ: Exemption of share in profit for family foundations and trust funds 
CZ: Commissioning of photovoltaic power plants (PPE)
CZ: First ever penalties for anticompetitive conduct imposed on public administration
CZ: New regulation of consumer contests
CZ: Inclusion of non-financial information in annual report
EU: New rules on personal data protection
SK: New state aid for SMEs
CZ: New Act on Offences

To find out more about the most important changes in CZ and SK, please click here

Tags: Law | Finance | Business Development |

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