Wiewiórski Legal

On 1 December 2022, the lower house of the Polish Parliament adopted a draft law amending the Labour Code and other acts and introducing remote working as a permanent solution into the Polish labour law system.

On 19 May 2021, a new draft Act amending the Labour Code Act, the Vocational and Social Rehabilitation and Employment of Persons with Disabilities Act and the Employment Promotion and Labour Market Institutions Act was announced. The main objective of the new draft law is to introduce the provisions on remote work into the Labour Code as a permanent solution.

It is standard practice in corporate financing for financial institutions to request that the borrower's subsidiaries provide security. The management boards of such subsidiaries frequently ask themselves whether providing security in a situation where the company they represent does not use the financing directly is permitted.

When providing financing to corporate clients, banks require that the borrower, and frequently also companies from its group, offer security in case the liabilities are not repaid on time. This article presents instruments under Polish law that are most commonly used by Polish and foreign financing entities to secure their claims against corporate borrowers.

At a time when so many employers have decided to introduce the remote working solution, maintaining the traditional employee documentation has become quite a challenge.

Due to the COVID-19 pandemic, some of the regulations essential to the operation of companies have been amended. Deadlines for filing information on the beneficial owner with the Central Register of Beneficial Owners and deadlines for preparing and approving financial statements have been extended. In addition, solutions enabling companies' governing bodies to operate on a remote basis have been included in the Commercial Companies Code.The changes came into effect on 31 March 2020. Learn more reading the article by Wiewiórski Legal.

Central Register of Beneficial Owners (Centralny Rejestr Beneficjentów Rzeczywistych). Pursuant to Polish Money Laundering and Terrorist Financing Act of 1 March 2018 entities specified in the provisions of the Act, including limited liability companies, will be obliged to submit information on the beneficial owners of such companies to the Central Register of Beneficial Owners. New provisions come into force on 13th October 2019.