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Professor Dědič in Hospodářské noviny: Recodification facilitates the company formation process and simplifies making changes in the Commercial Register

In connection with the recodification of the civil and commercial law, significant changes are expected concerning the formation of commercial companies or cooperatives and the process of making changes in the Commercial Register. Notaries would newly be allowed to make entries into the Commercial Register (after preparing a public deed), and it would no longer be necessary to file applications for entries into the Commercial Register at a court, which could save entrepreneurs both time and money.

Companies can also expect the legal uncertainty arising from acts performed in the period between when an application for a change is filed and when such change is made to be reduced.

Each of the changes mentioned above are expected to be included in the new Commercial Register Act, which is now being prepared in connection with the recodification of civil and commercial law. The option which allows entrepreneurs to file an application for entry into the Commercial Register at a court, however, will be preserved.

On this topic, Hospodářské noviny quoted Professor Jan Dědič, a partner at Kocián Šolc Balaštík, member of the Legislative Council of the Government of the Czech Republic, and co-author of the new Commercial Corporations Act:

“We will satisfy the obligation to review the legality established by EU law and many related legal problems will be eliminated. I personally consider it a great success,” says the commercial law expert Professor Jan Dědič, who came up with the idea.

A useless step, which is far from necessary given today’s level of technology, will cease to exist,” says Professor Dědič, who is the author of the proposed change.

The full wording of the article can be downloaded here or on iHNed.cz here (in Czech only)

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