LATEST CHANGES IN POLISH LAW

NATIONAL COURT REGISTER  
On 1 January 2012 amendments to the Act on National Court Register (Journal of Laws of 2011, No. 144, item 851) came into force. Pursuant to the foregoing amendments:

• the power of all documents issued by the Central Information of the National Court Register (hereinafter "Central Information") was equated;
• the power of an official document was given to documents such as copies, extracts, certificates or information issued by the Central Information in electronic form;  
• the matters of unpaid issuing by the Central Information of actual information about the entities entered into the register and matters related to the documents contained in the electronic catalog of companies’ documents, were regulated;
•  the possibility of self-printing of documents from the National Court Register, which have the power equal to the power of documents issued by the Central Information, was introduced on the condition, that the self-printed documents have characteristics enabling their verification with the data contained in the National Court Register;
• the possibility of entering the website address and e-mail address of entrepreneur into the register of entrepreneurs, was introduced.
  

TRADING IN FINANCIAL INSTRUMENTS
On 1 January 2012 amendments to the Act on Trading in Financial Instruments and other acts (Journal of Laws of 2011, No. 234, item 1391) came into force, by which:

• it was enabled i.a. for brokerage houses, banks conducting brokerage activity, trusts, foreign investment companies or the National Depository for Securities to conduct omnibus accounts;
• it was reserved that only entities authorized to operate in the scope of the registration of financial instruments in another EU member state or in equivalent country can be the holders of the omnibus accounts;
• the principle of mandatory agency and participation of the omnibus account’s holder in the exercise of rights resulting from securities recorded on this omnibus account was introduced; 
• the rules for determining the people entitled from the securities recorded on the omnibus accounts, the procedure of realization of their rights, the effects that the records on the omnibus accounts will have on Polish territory, the scope of informational obligations toward supervisory authorities related to the keeping the omnibus accounts, were regulated;
• the holder of the omnibus account was obliged i.a. to hand over, at the request of the Financial Supervision Authority or the General Inspector of Financial Information, the information about the people entitled to securities recorded on such omnibus accounts and about the status of their ownership.

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