Legal

Amendment to the Labour Code (part 1): at least 160 hours of vacations for all

An extensive amendment to the Labour Code has been on the deputies’ agenda since January. In the upcoming issues of Tax and Legal Update, we will summarise for you the amendment’s major changes. In the first of a series of articles, we will look…

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…

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,…

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…

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…

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…

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…

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…

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…

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…

Access to workplace with fingerprint or face recognition? Office for Personal Data…

Technologies processing the biometric data of employees are spreading. The use of fingerprints or face recognition to check workplace attendance is becoming increasingly frequent. The GDPR, however, only allows for very limited processing of…

AML regulation: risk of penalties of up to CZK 130 million

Obliged persons under the AML Act will be subject to new duties whose violation may result in severe penalties that could be potentially destructive for smaller companies. The legal regulation of sanctions relating to anti-money laundering measures…