May 30, 2012
On 30 May the Government has approved the Bill on improving transparency of joint-stock companies
The Minister of Justice Jiří Pospíšil submitted the bill, which by restricting anonymous ownership of companies provides a significant measure to further enhance the fight against corruption. The criticism of certificated shares results from its lack of transparency, because they can be an instrument of corruption. There are two options, which can be chosen by the relevant joint-stock companies. The proposal suggests an obligation of registration within the Central Depository or immobilization of shares. In both cases there is possibility to identify the owner of the shares. These data could be used also in criminal proceedings, public contracts, grants providing etc. The objective is to exclude the companies with opaque ownership structure from public contracts.
For further information click here.