On 1st July, 2016, Act No. 340/2015 Coll. on special requirements for the effectiveness of certain contracts, the disclosure of these contracts and their registration (The Contract Registry Act) will enter into force.
This Act will give rise to a contract registry in which contracts executed with defined entities such as the Czech Republic, territorial self-governing units, central (state) semi-budget- ary organizations, state funds or corporate bodies in which the state or a territorial self-governing unit has a majority in- terest, will have to be disclosed. The Ministry of the Interior will administer the registry. Exemptions from the disclosure obligation include information that cannot be provided when acting in compliance with regulations governing free access to information or contracts with a natural person acting out- side the scope of his/her entrepreneurial activity, contracts whose performance is effected outside the Czech Republic or contracts whose subject-matter has a value of CZK 50,000 (exclusive of VAT) or less.
We must therefore count on the fact that contracts executed after 1st July, 2016 with the above-named (in particular, public administration) entities will be published electronically in the contract registry.
One year after the Act’s effective date, i.e. as of 1st July, 2017, the effectiveness of contracts subject to the Contract Registry Act will also be tied to their disclosure in the regis- try; any failure to disclose within three months of contract execution will result in retroactive contractual invalidity.