Mandatory dematerialisation of company shares starting in 2020 intended to counteract money laundering
The New Year will bring significant changes in the regulatory environment for companies, with new duties entailed in the compulsory dematerialisation of shares. Please read on for some pointers concerning the new solutions implemented in the Polish Commercial Companies and Partnerships Code (Ksh) and the formalities incumbent on companies/issuers as of 2020.
“The register of shareholders will be maintained in electronic form by a brokerage house licenced to operate securities accounts or by a trustee bank”, Magdalena Szeplik , advocate with GESSEL explains to Strefa Inwestorów.
“Shares of the same company may not be registered simultaneously in the register of shareholders and in the National Securities Deposit. Companies which are not publicly listed may choose where they want to register their shares. It should be borne in mind, however, that opting for the National Securities Deposit entails, among other consequences, the necessity of organising the general meeting subject to the same rules as a public company, publication of current statements excluded”, Szeplik continues.
Full text (in Polish) is available on www.strefainwestorów.pl