The biggest amendment to the Commercial Companies Code comes into force today, 13 October 2022.

New provisions introduce a number of new duties and privileges for supervisory and management boards of companies with share capitals, including, among others:

• changes to the organisation of meetings and the obligation to keep minutes of them
• regulation of the issue of counting the term of office of a supervisory board member and a management board member
• rules concerning the ability to delegate a supervisory board member to perform individual supervision
• indication of the types of transactions for which the supervisory board's approval is required by the management board
• introducing an obligation to comply with the loyalty or business judgment rule.

We encourage you to read our guides on the amendments to the Commercial Companies Code that we have prepared for:

• supervisory boards: PrzewodnikponowelizacjiKSH_radynadzorcze.pdf

and

•  management boards: PrzewodnikponowelizacjiKSH_czlonkowiezarzadu.pdf