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Poland’s Amended Code of Commercial Companies Takes Effect on 13 October 2022

Poland’s Amended Code of Commercial Companies Takes Effect on 13 October 2022

On 13 October 2022, amendments to the Code of Commercial Companies (hereinafter referred to as the Code) applicable to capital companies will come into force. The amendments will apply, in particular, to a supervisory board, but the modifications will also influence other authorities of a limited liability company (LLC) and a joint stock company.

Warsaw Poland law changes

In a full-length article that can be accessed here, Ewa Lejman-Widz, a partner at Ally Law member firm Izabella Żyglicka & Partners, and Aleksandra Żukowska, a trainee solicitor at the firm, take a close look at a number of specific requirements in the Code that apply to LLCs, including:

  • Terms of service and duties of boards of directors
  • Reporting, documentation, meeting attendance, ad-hoc committees, use of advisors and other requirements that apply to supervisory boards
  • Meetings of audit committees
  • Meetings of shareholders
  • Due diligence obligations and protections against civil liability exposure of company authorities.

To read the full article by Ally Law member firm Izabella Żyglicka and Partners, click here.

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