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Changes in the Czech Corporate Law and Fiduciary Duties

Publication at Faculty of Law |
2017

Abstract

The article describes significant changes in corporate governance in the Czech recodification of the Czech private law. In the Czech Republic, from 1992 to 2014, the Act No. 513/1991 Coll. the Commercial Code, regulated only the dualistic (two-tier) model of joint-stock companies internal structure.

Currently, the dualistic model and the newly regulated Czech monistic (one-tier) model of a joint-stock company is regulated in the new Act on Commercial Companies and Cooperatives ("the Business Corporations Act") No. 90/2012 Coll., which came into effect in January 2014. Other status which affects the Czech corporate governance is the Civil Code (No. 89/2012 Coll.) which came into effect in January 2014, too.