A draft Amendment and Supplement Act of the Commercial Register and the Register of Non-Profit Legal Entities Act (the “Act”) has been published, which provides for the establishment of a register of persons deprived of management rights. 

By virtue of the amendments, a new register at the Registry Agency shall be established, wherein the persons who, according to the Commerce Act, are not entitled to be managers or members of bodies (board of directors, supervisory board and management board) of trade companies would be registered. These are:

1.    Persons declared insolvent;

2.    Persons who, during the last two years preceding the date of the court act declaring the insolvency, have been managing directors, members of the management or control body of a company wound-up due to insolvency when unsatisfied creditors have remained;

3.    Persons to whom a penalty of deprivation of the right to exercise commercial activity or other similar sanction has been imposed;

4.    Persons who have been managers, members of the management or control body of a company for which it has been established a violation of its obligations to create and maintain the respective levels of reserves specified under the Crude Oil and Petroleum Products Stocks Act by means of entered into force penal decree.

The register will contain data on the person himself/herself, the grounds on which he/she is deprived of management rights, as well as data on the act on the basis of which the entry is made. An individual electronic file will be kept for each person, wherein the documents certifying the entries and deletions, as well as the refusals of entries/deletions will be enclosed.

The register is not envisaged as public and only state authorities will have free access to it. Other persons are solely entitled to receive information on whether they are listed in the register and, and in case they are registered – on the documents contained in their electronic file. A similar right is provided for the benefit of the heirs of persons entered in the register.

Entries and deletions in the register shall be made by the registration officials of the Registry Agency on the basis of an act of a competent authority. A person entered in the register shall be erased when the deprivation period has expired or when the person has passed away. An application for erasure may be submitted by the person entered in the register, his/her heirs or a representative (e.g. a lawyer).