Polish Parliament backs less paperwork for companies under commercial code changes

Poland’s Sejm unanimously backed changes intended to reduce paperwork for companies, with all 441 lawmakers voting in favor. The bill now moves to the Senate.

The amendment would make it easier for companies to communicate electronically. Under current rules, a shareholder must provide written consent before a company can send important information by email, including invitations to shareholder meetings.

The new rules would also allow companies to specify in their agreements that powers of attorney can be submitted in documentary form, such as a scanned document. This is intended to make remote participation in shareholder meetings possible.

Documents and consents issued before the amendment takes effect will continue to follow the old rules. The new provisions will apply to matters initiated after they enter into force.

The Justice Ministry, which prepared the bill, says the changes will simplify operations and reduce formalities and costs for limited liability companies. These companies make up the largest group of businesses in Poland. The amendment forms part of the government’s deregulation package and will take effect within 30 days of its publication.