The bill on the amendment of the Code of Commercial Companies and certain other Acts providing for the dematerialization of shares has been referred to the Sejm.

This May, works on the bill accelerated significantly–its two amendments came out, whereas its first version appeared in early 2017.

Just to reiterate, the main assumption of the bill is to introduce the obligatory dematerialization of bearer shares and registered shares of non-listed companies, i.e. the abolition of the paper form and the introduction of the obligation to register shares in the register of shareholders.

The planned date on which the changes are to enter into force has been postponed and is currently 1 January 2021, except for selected regulations, including those providing for the obligation for joint stock companies and limited joint stock l partnerships to have their own website intended for communication with shareholders and to report this address to the register of entrepreneurs of the National Court Register, which is to become effective on 1 January 2020.