Mandatory dematerialisation of shares

In accordance with the latest amendment to the Commercial Companies Code entering into force on 1st January 2021, the paper version of share certificates will be henceforth excluded. The above change results in additional obligations for the joint stock companies (spółka akcyjna SA) such as:

  • The company should call its shareholders for returning share certificates at least five The information on the above should also be available on the company’s web page for at least 3 years since the first call.
  • The first call should be sent before 30th June 2020. The subsequent calls should be sent not later than one month and not sooner than two weeks since the previous call.
  • Before the first call the company is obliged to conclude an agreement on holding shareholders register with an appropriate entity.

Failure to perform any of the above obligations may result in up to PLN 20.000 fine.

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