On 1 January 2014, the new Civil Code (the “NCC”) will come into effect. This new regulation should regulate all civil relationships between physic and legal entities, with the exception of certain business corporations which will be governed by another new regulation, the Act on Business Corporations (the “ABC”). Therefore, with respect to the above mentioned, many of the current regulations will be cancelled because the content of these will become a part of the NCC, and the current Commercial Code is to be replaced by the ABC (e.g. Family Act, Act on the Lease and Sublease of Non-residential Premises, Act on the Property of Apartments, etc.). The regulation of the obligations will be newly contained in one act alone, i.e. the NCC, and contrary to the current Commercial Code, the ABC will only contain the rules regarding business corporations. The authors of the NCC have been inspired by many different types of regulations.
The main principles of the NCC are the protection of the weaker party in the relationships, e.g. the consumers against the companies, and that the NCC contains many non-mandatory rules. Therefore with the exception of cogent rules which are not able to be changed, the parties can modify their relationships according to their will.
The NCC should come into effect on 1 January 2014, but many of the accompanying regulations have not been approved by the Parliament and Senate yet. With respect to the current political situation in the Czech Republic, the passing of all the accompanying legislation on time is at risk.