Recodification Guide for Entrepreneurs No. 1
Much time has passed since the first proposals to make a new Civil Code were heard. As far back as the beginning of 1990s, when a major amendment of the current Civil Code was adopted, it was apparent that the amendment was a mere “bridge” between the “socialistic” law and a new code of the civil law. Although a new code of private law was discussed among experts and politicians from time to time, it took until the year 2000 before then Minister of Justice Otakar Motejl decided to begin the process on the recodification of private law. More than 11 years and 3000 comments later, a bill on the New Civil Code was passed in both houses of Parliament. The New Civil Code, along with the Business Corporations Act and Act on International Private Law which were also parts of the so-called “recodification package”, are a valid part of the legislation, and it is expected that they will become effective on January 1, 2014. In this issue, we have summarized some of the basic information in this code, which should be familiar to everyone running a business after 2014.
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- Date: 01. 01. 2014