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Hereby, we would like to kindly notify you about a statutory duty of the company to register in the Register of Public Sector Partners if the company cooperates with the state, local government and their controlled entities, as access to funds from public resources is in general conditional upon the registration in the Register of Public Sector Partners (“Register PSP”).
Act No. 315/2016 Coll. on the register of public sector partners entered into force on February 1, 2017.
Pursuant to the Act, the state, local government and their controlled entities (Public Sector) can in general (except for exceptions) provide funds only to persons (legal and natural)
The Act has been adopted as an anti-corruption action.
The obligation to register in the Register PSP applies:
The registration can be carried out only by an Authorized Person, such as an attorney-at-law, auditor or tax advisor.
At the same time the verification of the ultimate beneficial owners, which shall be executed only by the Authorized Person, must be performed on an annual basis.
A violation of the obligations under the Act may result in fines and withdrawal of the Public Sector entity from the concluded contracts.
Our attorneys-at-law and tax advisors can provide you all services to meet the new statutory requirements. We can assist you by the registration with the Register PSP as well as to act as the Authorized person.