Imminent change of the rules regulating corporate oversight

The Polish laws concerning the rights of supervisory boards at companies are in for extensive modification. The gist of these changes is that norms of a general character will be replaced with precise formulations referring to specific duties. One new rule is that the management board will now be obligated to, on its own initiative and without awaiting a request to that effect, provide the supervisory board with information about the management board’s operations, the current status of the company (as well as of its subsidiaries and affiliates), progress towards defined goals, transactions, and other events and circumstances of broader relevance to the company and to its group. The management board should present such information at every session of the supervisory board [...]