In May 2011, the Serbian parliament adopted a new company law, which is scheduled to take effect on 1 February 2012 (hereinafter: the “New Company Law”). The new legislation will replace the current company law that has been in force since 2004 (hereinafter: the “Old Company Law”).
The Slovak Parliament passed an amendment to the Slovak Labour Code on 13 July 2011 (the “Amendment”). The Amendment, which was published in the Collection of Laws under No. 257/2011 Coll., will take effect on 1 September 2011. It is known as perhaps the most criticized and debated bill of the new Slovak Government. This article provides a summary of the most important changes being introduced by the Amendment, in particular:
I. Managerial employees
II. Termination of employment
III. Severance payment
V. Renewal of employment for a fixed term
VI. Limitation of weekly days off
VII. Working time account
An amendment to the Slovak Trade Licensing Act (the “Amendment”; the “Act”) has entered into force. This Amendment implements certain changes relating to the organisation of Small Trade Offices and the manner of issuing business and trade licences in Slovakia, with effect as of 1 June 2010.
From 20 July 2009 an important amendment to the Commercial Code is effective. This amendment breaks the complete prohibition of financial assistance in the acquisition of an interest in a company which would provide the financial assistance.
This article will discuss the latest controversial judgement of the Czech Supreme Court (the “Court”) which stipulates that guarantees falling under Section 196a of the Czech Commercial Code (“Section 196a”) do not need to be appraised by a court-appointed expert to be valid.