Effective as of 1 January 2012, there is a new amendment to the
Commercial Code coming into force, providing for the following main
changes:
Concurrence of members of a statutory body with an employment
relationship
One of the most important changes lies in the entitlement of a
statutory body of a company to entirely or partly delegate the
business management of the company to another person, including
employees of the company. In the future, the business management of
the company will be allowed to be performed by the employees acting
concurrently with the statutory body or its members. It seems that
this long neglected issue has finally been resolved and shall not
cause any future problems, as both the members of the board of
directors and directors shall be now able to enter into an
employment relationship with the same company and at the same time.
However, by delegating the business management, the liability of
the members of the statutory body to act with due
