6.04.2022 Company law

Theft of companies – KRS newsletter to increase the protection of businesses

Theft of companies is an increasingly common practice to be counteracted by the amendment to the National Court Register Act which introduces a new solution – newsletter of the National Court Register (KRS).

On 22 March 2022, the government adopted a draft amendment to the National Court Register Act prepared by the Ministry of Justice. The new regulations are to increase legal security of businesses and counteract the practice known as theft of companies.

KRS newsletter already in May 2022

The amendment introduces Article 10a paragraph 1, under which a new tool –e-mailed KRS newsletter – will be implemented to provide business with better protection against theft of companies.

The KRS newsletter will be available from 19 May 2022 and will automatically inform about the possible takeover of a company by fraudsters. It will provide businesses with immediate access to information on:

  • any changes to the registry,
  • registering the case in the registration procedure,

thanks to which thefts of companies may be prevented.

See also: New developers act – imporant changes from 1 July 2022

The KRS newsletter to inform about an attempted fraud

The KRS newsletter service is designed to prevent fraud consisting in changing entries in the National Court Register on the basis of forged documents, thanks to which fraudsters steal companies, i.e. they take over the representation of a company without the knowledge of their legitimate managers and partners.

In the event of an attempted theft of a company, the companies bodies will automatically receive a newsletter informing about such an event. This will allow for a quick reaction and thwarting the fraud with the help of law enforcement agencies, and authorized persons will be able to challenge the decision on the entry in the register.

Currently, changes to the National Court Register are made automatically, and judicial clerks do not have a tool to verify every application for possible fraud.

The KRS newsletter will be launched on 19 May 2022, and the draft amending provisions will soon be submitted to the Sejm.

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