Important amendments to Commercial Code and Accounting Act
Amendment to Section 67a of the Commercial Code regulating disposals with the company’s enterprise or assets
Act No. 56/2006, Coll., amends Act No. 256/2004, Coll., the Capital Market Trading Act and other related acts, including the Commercial Code. In the above Act, the provisions of Section 67a of the Commercial Code are replaced by new wording pursuant to which consent by participants of the General Meeting must be granted to:
- an agreement by which an enterprise or a part thereof is transferred;
- an agreement on lease of an enterprise or a part thereof; and
- an agreement establishing a lien on an enterprise or a part thereof.
Such consent in the future will be the single condition for realizing agreements through which disposal with the enterprise occurs. The related provisions on merger or division thus fully cease to exist, together with a number of earlier necessary formalities such as reports by managing bodies and expert opinions, among others. Two-thirds (2/3) of the votes of all participants will be necessary for granting consent to a contractual disposal with the enterprise in the case of limited liability companies, and two-thirds (2/3) of the votes of present shareholders in the case of joint stock companies.
This regulation also brings a new form of structuring companies in the Commercial Code called “split by demerger” (Section 69, subsection 4). Split by demerger is possible through the following ways:
- split by demerger by establishing new companies;
- split by demerger by merger; or
- split by demerger through a combination of the above two ways.
In the split by demerger the split company is not terminated or dissolved but rather, the allocated portion of its assets passes to an existing successor company or companies (“demerger by merger”) or passes to a newly established successor company or companies (“demerger by establishing new companies”) and the participants of the split company become the participants of the successor company or companies. The existing provisions on splitting are appropriately applied to such procedure. The assets determined for allocation need not be specified in the project or agreement on splitting, but it is sufficient to precisely set forth the method of determination thereof. Only the demerged portion of the assets must be valued by an expert opinion.
Change in convening the General Meeting and the mandatory publication of final financial statements in the Commercial Bulletin
The Amendment to Act No. 365/2000, Coll., on Information Systems of Public Administration and on a Change to Certain Other Acts, is a newly approved regulation which, according to available information, should become valid and effective in the near future. This act fundamentally amends the provisions of Section 184, subsection 4 of the Commercial Code so that in the case of joint stock companies with bearer shares, in addition to the obligation to convene the General Meeting through a nationwide distributed daily, there is an obligation to announce that the General Meeting is being held in the Commercial Bulletin.
The above act also amends the Accounting Act (No. 563/1991, Coll.) in Section 21a, subsection 4 where a new obligation is stipulated for accounting units that pursuant to Section 20 of the same act must have final financial statements verified by an auditor and publish the entire final financial statements in the Commercial Bulletin. The obligation to deposit them in the Document Register of the Register Court is not affected thereby.
Other articles
Evidence skutečných majitelů: Co přinese znepřístupnění od 17. prosince 2025?
Letošní rozhodnutí Nejvyššího soudu a Nejvyššího správního soudu navázala na rozsudky Soudního dvora Evropské unie, a, s platností i pro Českou republiku, konstatovala, že zveřejňování údajů v rámci evidence skutečných majitelů představuje nepřiměřený zásah do základních práv majitelů na soukromí a ochranu osobních údajů. Důležitým aspektem těchto rozhodnutí byl závěr, že sankce, které postihují povinné subjekty jako reakce na nesplnění jejich povinnosti zápisu do evidence skutečných majitelů, není možné vymáhat, dokud je evidence veřejná. Tato situace se změní 17. prosince 2025, kdy ministerstvo znepřístupní evidenci skutečných majitelů; povinným subjektům tak budou opět hrozit závažné sankce.
30th Advent Concert for the Committee of Good Will – Olga Havlová Foundation
This year again, during the pre-Christmas season, the Advent Concert of Good Will took place. Since 1995, it has been organised by the law firm Kocián Šolc Balaštík in support of the Committee of Good Will – Olga Havlová Foundation. This was already the 30th anniversary edition, made exceptional by the fact that we organised it for the first time together with our partner, Smetanova Litomyšl, as part of a broader mutual cooperation. As always, the concert was held in the concert hall of the Church of Sts. Simon and Jude in Prague’s Old Town.
30th Advent Concert for the Committee of Good Will – Olga Havlová Foundation
The Advent Concert of Good Will, organised since 1995 by the law firm Kocián Šolc Balaštík for the benefit of the Committee of Good Will – Olga Havlová Foundation, will this year take place on Sunday, 7 December, from 7:00 p.m., traditionally in the concert hall of the Church of Sts. Simon and Jude in the Old Town of Prague. The concert is held under the auspices of the First Lady of the Czech Republic, Mrs Eva Pavlová.
