Good governance / Legal Reform and Transparency
This section details initiatives to make government a competitive advantage. It includes analysis and reports of government initiatives, as well as data on accountability and performance measures.
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Spotlight issue
Schrems II judgment: Privacy Shield invalid, SCCs survive, but... what happens now?
On 16th July 2020, the CJEU delivered its judgment in the "Schrems 2" case [1]. Most organisations rely on data transfer agreements - Standard Contractual Clauses – to transfer personal data to countries outside the EEA. Organisations which transfer personal data to the US can also often rely on the EU-US Privacy Shield. The CJEU was asked to consider if law and practice in the US relating to access to personal data by the intelligence services should mean that either, or both – of these mechanisms should be invalidated.
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The Czech Office for the Protection of Competition imposed fines for illegal cartel agreement linked to rail freight transport
On 22 June 2020 the Czech Office for the Protection of Competition (Office) published a press release (without publishing the full decision yet) regarding fines imposed for concluding and executing a prohibited cartel agreement regarding train projects Carpathia, Sylvania, and New Carpathia.
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Major amendment to the Act on Corporations
Act No. 33/2020 (hereinafter the “Amendment”), amending Act No. 90/2012, on corporations and associations (the Act on Corporations), as amended (hereinafter the “Act on Corporations”), entered into force on February 13 of this year upon its promulgation in the collection of documents. The Amendment was called “major” because it involves the most extensive changes to Czech corporate law in the past six years. Although the vast majority of provisions in the Amendment take effect as of January 1, 2021, it is important to prepare for them in advance.
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