Why submit the documents to the Collection of Deeds in Czech Republic? | Legal Alert
Natural and legal persons registered in the Commercial Register are obliged to submit to the Collection of Deeds held by the competent Court the documents specified by law, state certain data on their business papers and in some cases publish on their websites information required by law.
From January 1, 2014 maximum amount of disciplinary penalty which the courts may impose on a person who fails to fulfill the above obligations was increased up to the amount of CZK 100,000. In the case of repeated non-compliance, the court may initiate proceedings on its liquidation.
Persons registered in the Commercial Register typically do not store in the Collection of Deeds the reports on relations between related parties and the full version of the Memorandum / Articles of Association after the adoption of their amendments. Joint-stock companies do not set up a websites and do not release the information required by law.
We therefore recommend inspecting the documents stored in the Collection of Deeds and published them on websites and if the statutory obligations are not fulfilled ensure their publication.