On 1 January 2018, part of an amendment of Act No. 253/2008 Coll. on selected measures against the legitimisation of proceeds of crime and financing of terrorism, as amended, and as implemented by Act No. 368/2016 Sb. (the “amendment”), entered into effect. We would like to draw your attention to certain changes to the Act on Public Registries of Legal Entities and Natural Persons (the “Registry Act”), the Public Procurement Act and the Insolvency Act introduced by the above amendment.
The information in this bulletin is correct to the best of our knowledge and belief at the time of going to press. Specific advice should be sought, however, before investment and other decisions are made. Nor should the information in this bulletin be considered an exhaustive description of the given matter and its possible ramifications. We also note that legal opinion varies regarding some of the issues raised in this bulletin due to ambiguities in the relevant provisions.
Thus, it is possible that an interpretation other that the one presented here will prevail in future.