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NEUE REGELUNGEN ZUR ERWEITERUNG DER KONTROLLE AUSLÄNDISCHER INVESTITIONEN AUF BESTIMMTE SEKTOREN (ZUR VORBEUGUNG “FEINDLICHER ÜBERNAHMEN” IM ZUSAMMENHANG MIT COVID-19).
Im Rahmen des sog. „Anti-Krisen-Schutzschildes 4.0” sind am 24. Juli 2020 neue Regelungen über die Kontrolle direkter ausländischer Investitionen in Kraft getreten. Mit den neuen Rechtsvorschriften wird die staatliche Kontrolle über M&A Transaktionen in manchen strategischen Wirtschaftssektoren erweitert.
international
WKB Legal Alert | New law expanding foreign investment controls
Poland adopted a new law on foreign direct investment controls as part of the so-called “Anti-Crisis Shield 4.0”. The law expands the State’s control over M&A transactions in some strategic sectors of the economy. These provisions came into force on 24 July 2020 and they seem to apply to ongoing transactions (those not closed before that date). On 21 July 2020 President of the Office of Competition and Consumer Protection (UOKiK, the authority responsible for application of the new measures) published guidelines concerning new rules on foreign direct investment. Even though the guidelines are not a binding source of law they show how the new measures will be interpreted and adopted.
WKB Legal Alert | Business during a pandemic Expert analyses on selected provisions of the 4.0 Anti-Crisis Shield Act
Our experts continue to monitor and analyse all new legislative proposals in Poland which can affect business during the pandemic. In connection with the adoption of amendments to the Anti-Crisis Shield framework 4.0 (24 June 2020), we present materials, including a set of analyses on the law as of 1 July 2020.
WKB Legal Alert | Impact of the COVID-19 epidemic on the credit sector – Shield 4.0
In connection with the coronavirus pandemic, the legislature has introduced a number of new regulations concerning loan market. We note the most important of them.
WKB Legal Alert | Shield 4.0 – employment law
Shield 4.0 was published in the Journal of Laws and the majority of its provisions came into force on 24 June 2020. In the legal alert, we present the most important solutions for employers introduced by this new special law.
WKB Legal Alert | Anti-Crisis Shield 4.0 – real estate
On 24 June 2020, a number of provisions of the Act of 19 June 2020 on subsidies to interest rates on bank loans granted to entrepreneurs affected by COVID-19 and on simplified procedures for the approval of an arrangement in connection with COVID-19 (“Shield 4.0”) entered into force. This Act introduces amendments to other acts. Below, we present the most important changes regarding real estate matters resulting from Shield 4.0 and its implementation:
WKB Legal Alert | What do lenders who offer credit holidays have to watch out for?
One of the solutions introduced by the Anti-Crisis Shield 4.0 is a, so-called, statutory credit holidays. Under these new provisions, credit institutions, in particular banks, are required to suspend the repayment of liabilities incurred by borrowers who have lost liquidity due to the coronavirus pandemic. Implementing these new solutions will undoubtedly be a challenge for lenders. When granting credit holidays, financial institutions need to ensure that the assistance reaches the right people, but also to provide consumers with reliable, truthful and complete information throughout the process. Failure to comply with these obligations may, in general, result in the initiation of proceedings regarding the infringement of consumer collective interests.
WKB Legal Alert | New powers granted to the President of the OCCP – access to information on taxpayers
Another "Anti-Crisis Shield" has come into force, extending the powers of the President of the Office of Competition and Consumer Protection (Urząd Ochrony Konkurencji i Konsumentów; UOKiK; “OCCP”) regarding access to data held by tax offices and customs and tax offices. The details are presented in this legal alert.