On July 1, 2011 the Act of March 25, 2011 was com into force concerning the limitation of administrative barriers for citizens and entrepreneurs, which i.e. was to amend the Commercial Companies Code within the scope of penal responsibility of management board members.

However on the session of June 9, 2011 the Sejm accepted a new act which stipulates annulment of the changes in the abovementioned scope even before they have come into force (!). The new act transfers the provisions on responsibility of management board members from the Commercial Companies Code to the Penalty Code. However, since it cannot be said for sure whether the president will sign the new act and if so whether the act will be published before July 1, 2011 a question arises: what will management board members’ responsibility look like after July 1, 2011? As of today, thanks to our legislative authorities it seems to be impossible to answer this question.

Contact person: Lech Gniady, lg@pnplaw.pl