Termination of the position of the statutory director and the related problem with access to data boxes.

Termination of the position of the statutory director and the related problem with access to data boxes.

As we have already informed you, the amendment to the Act No. 90/2012 Coll., On Commercial Companies and Cooperatives (hereinafter referred to as „Business Corporations Act“) introduced some significant changes in the organization of joint-stock companies with monistic system. As of the effectiveness of the amendment, the position of the statutory director has completely abolished, whereas the sole, compulsorily established elected body of the monistic joint-stock company is the Supervisory Board.

As a result of the above, a problem with access to data boxes of joint-stock companies has occurred, since originally, it was the statutory directors who had the access rights, who were however, starting from January 1, not able to log in. Consequently, the joint-stock companies were not able to use their data boxes properly, and above all, to communicate with authorities.

Nevertheless, new access data to the data boxes of joint-stock companies should have already been distributed among the members of the Supervisory Board, whereas this data will only be provided directly to such members and may not be collected by a proxy. Following the activation of this new data by logging into the data box interface, the collection and sending of data messages will be enabled again.