On 1 December 2019, the deadline for updating entries in the National Court Register will expire. Companies that fail to comply with this obligation may be fined.
Pursuant to the amendment to the National Court Register Act, which entered into force on 1 December 2014, all entrepreneurs entered in the register of entrepreneurs are required to disclose in the register no more than ten objects of activity, including one subject of the predominant activity at the subclass level.
The decrease in the number of PKD codes entered in the register does not mean that the subject of the Company’s operations will actually change. The obligation to update data in the register results from the fact that many entrepreneurs entered in the register all possible types of activity, and not only those that are actually performed by a given entity.
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If the entity entered into the National Court Register fails to fulfill this obligation, the registry court will be entitled to initiate enforcement proceedings. If the subject of the activity is not updated despite the court summons, a fine of up to PLN 15,000 may be imposed on the company. Failure to pay the fine may result in the fine being converted into a prison sentence for persons authorized to represent the entity – board members or partners authorized to represent the company.
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TGC Corporate Lawyers
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