Review

Certain amendments to the Act on National Court Register (KRS) came into force on 15 March 2018 and every member of corporate governing bodies should be aware of them. New regulations impose, among other things, additional reporting responsibilities on company managers and introduce essential changes to the existing duties that must be complied with.

The failure to file the required address details along with the next applications to the National Court Register will prevent the acceptance of such applications by registry courts. In other words, as long as documents with addresses for service are not filed, any entries in the National Court Register planned to be made by the company will not be processed.

Furthermore, pursuant to the Accounting Act, the failure to file reporting documents for a given financial year with the registry court is an offence subject to a fine or a penalty involving deprivation of liberty. As already mentioned, the registry court may initiate proceedings against company managers forcing them to file documents, during which it may apply various measures, including fines, notifications to law enforcement authorities, and in extreme cases also decisions on dissolution of the company.