Legal
Labour Inspection Office focuses on concealed mediation of employment – CZK 10…
The fact that illegal work is closely watched by the Czech Labour Inspection Office is nothing new for employers. ‘Svarc’ systems (where workers formally maintain a self-employed status while in fact carrying out dependant work) or the employment of…
New CRD and CRR
The Ministry of Finance has prepared a bill implementing the CRD V directive and CRR II regulation. The new EU legislation brings changes affecting mainly the banking sector as it revises the rules of capital adequacy and capital reserves and…
News in cross-border business conversions – demerger by separation
Demergers as a form of business conversion quite common in the Czech context and a useful tool to manage risks and tax aspects of transactions, have finally been harmonised on the EU level. The amendment to the respective directive introduces new…
Changes brought by the amendment to the Corporations Act - I
The proposed amendment to the Corporations Act, which the deputies will be voting on again in January after it was returned to them by the Senate, is to enter into effect from 1 January 2021 and will bring a relatively high number of changes. We…
No more paper, e-sick notes are here!
On 1 January 2020, an amendment to the Sickness Insurance Act entered into effect and launched the electronic sick note project. E-sick notes should simplify the exchange of information between sick employees, district social security…
Current pitfalls of hiring employees from third countries
Employers often find it impossible to staff all open positions with domestic job applicants and have no other option than to hire foreigners. While for EU citizens, the formalities needed before they may start work can be arranged within a day,…
BankID passed by Chamber of Deputies
At the end of last year, the Chamber of Deputies passed an amendment to the Banking Act, establishing preconditions for the wider use of BankIDs and opening the market for electronic identification services. The amendment has yet to pass through the…
Another chance for large amendment to the Labour Code
A large draft amendment to the Labour Code from August last year has for a long time seemed forgotten. This October, however, a turning point came when the Ministry of Labour and Social Affairs disclosed another large draft amendment. At the same…
Changes to distribution and payment of corporations’ profit and other components of…
Rules for the distribution and payment of profit and other components of equity should change substantially from 2021 through an amendment to the Act on Corporations, which has recently been submitted by the Chamber of Deputies to the Senate. The…
Excess compensation monitoring rules submitted to government
The Ministry of Industry and Trade published a draft amendment to the Act on Renewable Energy Sources. One of its main objectives is the introduction of a system of monitoring the provision of excess aid/support for the production of energy from…
What to remember when delegating powers of statutory body?
In practice, we may often encounter the functional distribution of the powers of a statutory body among its individual members, especially where business management is concerned. Statutory body members may thus independently make decisions regarding…
New duties of listed companies
An amendment to the Capital Market Undertaking Act stipulates new duties applicable to companies listed on a regulated European market, primarily concerning a more detailed regulation of remuneration provided to management and supervisory body…