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Czech Republic: deadline for approval of financial statement

Czech Republic - June 22 2012 Pursuant to Section 128 (1) and Section 184a (1) of the Act No. 513/1991 Coll., the Commercial Code, as amended, the general meeting of a limited liability company or a joint stock company approving ordinary financial statements must be held no later than six months following the last day of the accounting period (unless the Foundation Deed/Memorandum of Association or the Articles of Association of the company require a shorter period).

Pavel Drímal.

Czech Republic: significant obligations under the New Act on Business Corporations

Czech Republic - February 7 2014 1 January 2014 was a significant milestone in terms of changes to civil laws in the Czech Republic. The New Act No. 90/2012 Coll., on Business…

Radka Lörincová.

The duties of a statutory body in the event of negative equity

Czech Republic - July 23 2012 If a joint stock or a limited liability company’s accounting period matches the calendar year, the company is obliged to approve its ordinary financial statements by 30 June 2012.

Pavel Drímal.

2012: Fresh look for Transformation Act

Czech Republic, European Union - January 11 2012 The extensive Amendment to the Act on Transformations of Corporations and Cooperatives, No. 125/2008 Coll., came into force on 1 January 2012 and will remove a large number of deficiencies and ambiguities in this often criticised piece of legislation.

Veronika Chrobok.

Restricted anonymity for bearer shares

Czech Republic - January 4 2012 Bearer shares in joint stock companies will either have to be registered with a central depository or physically deposited with banks, under proposals announced by the Ministry of Justice.

Veronika Chrobok.