A significant amendment to the Code of Commercial Companies is coming

by Maciej Ogórek

25 August 2021

On 17 August 2021, the Government adopted the bill amending the Code of Commercial Companies, which was submitted to the lower chamber of Polish parliament (Sejm) on 23 August 2021.

Proposed amendments

The proposed amendments focus on the holding company law. The Code currently includes its fundamentals only. The amendment is to regulate the relations between parent companies and subsidiaries operating within one corporate group more thoroughly. The revised Code of Commercial Companies will make the cooperation between subsidiaries and parent companies more transparent.

The bill also contains provisions on the liability of individual entities and the liability of management board members of subsidiaries. For the latter group, changes may be most significant.