Author: Jakub Chlebiej

🚨 IMPORTANT INFORMATION – Articles 1-5 of the AI Act have been in force since 2 February, failure to comply may result in heavy fines. Many companies in the EU have not yet taken the required action – here are the most important details.

From 2 February 2025, the first provisions of the Artificial Intelligence Act (AI Act) will apply, aimed at increasing safety and regulating the AI market in the European Union.

The most important changes include:

• Prohibited practices – a ban on the use and placing on the market or for trading of AI systems that meet the criteria of prohibited practices. Examples include manipulative systems that take advantage of human weaknesses, social scoring systems and systems that analyse emotions in the workplace or education. Violations of these regulations are subject to high fines of up to 35 million euros or 7% of a company’s annual global turnover.

• Obligation of AI literacy. Employers must provide their employees with adequate training and knowledge about AI so that they can safely use AI systems at work. Lack of AI training can lead to non-compliance with regulations and increase the risk of incorrect use of AI systems. In connection with AI literacy, it is also worth ensuring the implementation of an AI use policy in the company. How to do it?

See articles:

• What should an AI policy include?
• Artificial intelligence – what is it (from a legal point of view) and how does the world deal with it?

The policy for using AI in a company can include, for example, clear procedures, rules for using AI, conditions for the approval of systems, procedures in case of incidents and the appointment of a person responsible for the effective implementation and use of AI in the organisation (AI Ambassador).

The importance of AI education (Article 4 AI Act)

Awareness and knowledge of AI is not only a legal requirement, but also a strategic necessity for organisations. Article 4 of the AI Act obliges companies to implement training programmes tailored to the knowledge, role and experience of their employees.

‘Suppliers and deployers of AI systems shall take measures to ensure, to the greatest extent possible, an appropriate level of competence with regard to AI among their personnel and other persons dealing with the operation and use of AI systems on their behalf, taking into account their technical knowledge, experience, education and training, and the context in which the AI systems are to be used, as well as taking into account the persons or groups of persons against whom the AI systems are to be used.’ Failure to act in this regard carries serious consequences. in which the AI systems are to be used, as well as taking into account the persons or groups of persons against whom the AI systems are to be used.

Failure to act in this regard has serious consequences, including:

• The risk of violating personal data protection and privacy regulations.

• An increased likelihood of violating the law and incurring financial penalties.

In addition to regulatory compliance, AI education helps to build a culture of responsible use of technology and minimises potential operational risks.

Where can I find guidance?

The ISO/IEC 42001 standard on artificial intelligence management systems can help. As part of the measures relating to the relevant competences of persons dealing with AI in an organisation, the standard indicates, for example, the following issues:

• mentoring
• training
• transferring employees to appropriate tasks within the organisation based on an analysis of their competences.

At the same time, important roles or areas of responsibility should be assigned to, for example:

• supervision of the AI system
• security
• protection
• privacy

Prohibited AI practices (Article 5 AI Act)

The AI Act prohibits the use of certain AI systems that could pose serious risks to society. Suppliers and companies using AI must ensure that they are not directly or indirectly involved in their development or implementation. Among other things, the AI Act lists specific prohibited practices that are considered particularly dangerous. These include:

• Subliminal or manipulative techniques – AI systems that subconsciously change the user’s behaviour so that they make a decision they would not otherwise have made.
• Exploitation of human weaknesses – systems that take advantage of a person’s disability, social or economic situation.
• Social scoring – systems that evaluate citizens and grant them certain rights based on their behaviour.
• Assessment of the risk of committing a crime – systems that profile individuals and evaluate their individual characteristics without legitimate grounds.
• Creation of facial image databases – untargeted acquisition of images from the internet or city surveillance for the purpose of creating facial recognition systems.
• Analysis of emotions in the workplace or education – AI systems that analyse the emotions of employees or students.
• Biometric categorisation of sensitive data – using biometric data to gain information about race, political views, etc.
• Remote biometric identification in real time – using facial recognition systems in public spaces for the purpose of prosecuting crimes.

Where to look for guidance?

• draft Guidelines on prohibited artificial intelligence (AI) practices – 4 February 2025. The Commission published guidelines on prohibited artificial intelligence practices to ensure consistent, effective and uniform application of the AI Act across the EU.

Important dates:

• From 2 February 2025 – Chapter II (prohibited practices)
• From 2 August 2025 – Chapter V (general-purpose models), Chapter XII (Penalties) without Article 101
• From 2 August 2026 – Article 6(2) and Annex III (high-risk systems), Chapter IV (transparency obligations)
• From 2 August 2027 – Article 6(1) (high-risk systems) and corresponding obligations

Key takeaways for companies:

• Compliance with Articles 1-5 of the AI Act is mandatory and cannot be ignored.
• Training in AI is crucial to avoid mistakes related to employee ignorance and potential company liability.
• Conducting audits of technology providers is necessary to ensure that AI systems comply with regulations.
• Implement an AI use policy – introduce clear documentation to organise the risks. The policy can include, for example, clear procedures, rules for using AI, conditions for admitting systems, how to deal with incidents, and appointing a person responsible for supervision (AI Ambassador).
• Developing AI tools in accordance with the law – companies developing AI tools must consider legal and ethical aspects at every stage of development. This includes analysing the compliance of the system’s objectives with the law, database legality, cybersecurity and system testing. It is important that the process of creating AI systems complies with the principles of privacy by design and privacy by default under the GDPR – How to create AI tools legally?.

Be sure to check out these sources:

• https://eur-lex.europa.eu/legal-content/PL/TXT/?uri=CELEX:32024R1689
• https://digital-strategy.ec.europa.eu/pl/library/commission-publishes-guidelines-prohibited-artificial-intelligence-ai-practices-defined-ai-act
• 4R1689 https://digital-strategy.ec.europa.eu/pl/library/commission-publishes-guidelines-prohibited-artificial-intelligence-ai-practices-defined-ai-act
• https://digital-strategy.ec.europa.eu/en/events/third-ai-pact-webinar-ai-literacy

https://www.gov.pl/attachment/9bb34f05-037d-4e71-bb7a-6d5ace419eeb

The situation in which Jerzy Owsiak has found himself, discussed and commented on in recent days in the media, gives rise to numerous discussions and questions about the legal possibilities of action in such cases. Below we point out the key legal provisions on criminal threats, public incitement to hatred or violation of personal rights that could apply. These incidents serve as a reminder of how important legal protection is in situations where words and actions can escalate so far as to take the form of criminal acts.

In the second part of the article, we also outline how AI is revolutionising the analysis of financial data, increasing the transparency and efficiency of charities.

The final part of the article is based on a thorough analysis of the financial reports of the GOCC, available on the organisation’s official website, and demonstrates the practical application of technology in the non-profit sector.

Graphics: WOŚP Foundation materials

Criminal threats and incitement to hatred – legal aspects on the example of the famous case of Jerzy Owsiak

Jerzy Owsiak, president of the Great Orchestra of Christmas Charity (WOŚP) Foundation, last week reported to law enforcement authorities the occurrence of criminal threats and public incitement to hatred against him and the Foundation. Phone and email threats, including calls for violence, caused the WOŚP Foundation president to reasonably fear their fulfilment. Owsiak also pointed to media activities that he considered manipulative and escalating negative emotions against him and the WOŚP. As a result, the foundation has banned certain editorial and television outlets from entering the foundation’s headquarters.

GOCC Foundation materials – photographer Marcin Michon

Criminal threats – when is it a crime?

Art. 190 CC [Criminal threat].

1. Whoever threatens another person with committing a criminal offence to his/her detriment or to the detriment of a person close to him/her, if the threat induces in the person to whom it was addressed or whom it concerns a reasonable fear that it will be carried out, shall be subject to the penalty of deprivation of liberty for up to 3 years.
2. Prosecution takes place at the request of the victim.

According to Article 190 of the Criminal Code, a criminal threat consists in threatening another person with the commission of an offence to his or her detriment or to the detriment of a person close to him or her, if it arouses in him or her a well-founded fear that it will be fulfilled. The key considerations here are:

1. Objective considerations – whether an average person in similar circumstances would consider the threat to be real.
2. Subjective feelings of the victim – how the threat affects a particular person.

In the case of Jerzy Owsiak and the employees of WOŚP, threats were made both by telephone and by email. Although the recordings of the conversations have not been preserved, the emails constitute important evidence in the case that can be used in the proceedings.

Incitement to hatred – legal consequences

Art. 255 CC [Public incitement to commit a misdemeanour or fiscal offence].

1. Whoever publicly incites to the commission of a misdemeanour or fiscal offence shall be subject to a fine, the penalty of restriction of liberty or the penalty of deprivation of liberty for up to 2 years.
2. Whoever publicly incites to the commission of a crime shall be subject to the penalty of deprivation of liberty for up to 3 years.
3. Whoever publicly incites to the commission of a crime shall be subject to a fine of up to 180 daily rates, the penalty of restriction of liberty or the penalty of deprivation of liberty for up to one year.

Actions involving public incitement to hatred under Article 255 of the Criminal Code may lead to criminal liability. In the case of the GOCC, the president of the Foundation pointed to media activities carried out by certain TV stations and editorial offices. According to him, they may bear the hallmarks of manipulation and escalation of negative emotions towards the Foundation and its activities, which, as a result of strong social emotions, which are additionally escalated and fuelled, may end very seriously (the case of the President of Gdańsk, Mr Paweł Adamowicz, should be indicated here in particular).

GOCC Foundation materials – photographer Paweł Krup

Defamation and insult – protection of image and dignity

Going further, media activities which violate the image and good name of the Foundation may also potentially constitute a form of defamation (Article 212 CC) or insult (Article 216 CC).

Defamation refers to a situation where a person or institution is slandered for actions that may bring it into disrepute in public opinion.

Article 212 CC [Defamation].

1. Whoever slanders another person, a group of persons, an institution, a legal person or an organisational unit without legal personality of such conduct or qualities which may humiliate him in public opinion or expose him to loss of confidence necessary for a given position, profession or type of activity, shall be subject to a fine or the penalty of restriction of liberty.
2. If the perpetrator commits the act specified in § 1 by means of mass communication media, he shall be subject to a fine, the penalty of restriction of liberty or the penalty of deprivation of liberty for up to one year.
3. In the event of a conviction for the offence specified in § 1 or 2, the court may rule on a surcharge in favour of the injured party, the Polish Red Cross or for another social purpose indicated by the injured party.
4. The prosecution of the offence specified in § 1 or 2 shall be by private prosecution.

Insult includes utterances or gestures that affront the dignity of a person, also in the presence of others.

Article 216 CC [Insult].

1. Whoever insults another person in his presence or even in his absence, but in public or with the intention that the insult should reach that person, shall be subject to a fine or the penalty of restriction of liberty.
2. Whoever insults another person by means of mass communication shall be subject to a fine, the penalty of restriction of liberty or imprisonment of up to one year.
3. If the insult has been provoked by defiant behaviour on the part of the victim or if the victim has responded by violating bodily integrity or by mutual insult, the court may waive punishment.
4. In the event of a conviction for an offence specified in § 2, the court may order a surcharge for the benefit of the wronged party, the Polish Red Cross or for another social purpose indicated by the wronged party.
5. Prosecution shall be by private prosecution.

Both offences are prosecuted by private prosecution, which means that an indictment must be brought by the victim. The assistance of a lawyer or solicitor is invaluable in such situations.

Infringement of personal rights – civil action

In situations such as this, the victim may also avail himself of civil law protection on the basis of the provisions on the protection of personal rights. This includes the possibility of claiming:

• Financial compensation.
• A public apology.
• The cessation of the action infringing personal rights and the removal of its effects.

How to act in case of threats or slander?

1. Report the suspected offence to the relevant services – notify the police or the public prosecutor’s office of threats or statements that may be insulting or defamatory. In the case of a criminal threat, a request for prosecution must also be made. The request can be made verbally on the record as well as in writing.
2. Secure evidence – emails, recordings of conversations, or other forms of documentation are key to corroborating the allegations (for fear of deleting the evidence, it is a good idea to prepare screenshots or secure data on a website or social media with a notarised record).
3. Use legal advice – a solicitor or barrister will assist in drafting the notice and also support you during criminal or civil proceedings. It is worth remembering that advocates or legal advisors also provide support in these cases free of charge (ex officio).

GOCC Foundation materials – photographer Łukasz Widziszowski

Materiały Fundacji WOŚP – fotograf Łukasz Widziszowski

WOŚP – social activity in the shadow of threats

The WOŚP Foundation has been supporting the Polish health service since 1993, collecting nearly PLN 2.3 billion for its cause so far. Despite its invaluable contribution to the healthcare system, its activities are sometimes the target of attacks, which shows how important it is to have effective legal protection mechanisms, but also – to focus on reliable information.

In this regard, it is always worth paying special attention to so-called ‘fake news’ appearing in the media or on television, which are often already at first glance distinguishable from other information (they are aggressive, refer to non-existent persons or events). Among fake news, there are many: flashy headlines, biased manipulations appearing in the statements of various people, or manipulated images or video. For this purpose (especially if the fake news concerns NGOs / non-governmental organisations), it is worth using the Demagog website .

The Demagog Association is the first Polish factchecking organisation. Since 2014, it has been verifying the statements of politicians, fighting against fake news and disinformation. In addition, it is also a team of analysts and educators for whom facts matter. The organisation’s mission is to fight fake news and disinformation and to provide citizens with reliable, unbiased and verified information.

Artificial intelligence can also be used to analyse fake news.

How artificial intelligence improves the analysis of GOCC’s financial data and increases the transparency of the charity’s activities

1. Automating data acquisition: OCR as a key tool in the analysis of GOCC financial reports

• Precise Data Extraction from Official Sources: The first step in the analysis process is data acquisition. In the case of WOŚP, the main source of information is the detailed financial reports, published annually in the form of images on the foundation’s official website. The AI modules responsible for data retrieval automatically acquire these images, eliminating the need for manual data entry. The images, which include the accounts, are available here: https://www.wosp.org.pl/fundacja/wazne/rozliczenia
• Optical Character Recognition (OCR) in the Service of Good: Optical Character Recognition (OCR) technology plays a key role. OCR algorithms accurately analyse the images of reports, converting the textual and numerical information they contain (dates, amounts, descriptions) into a digital format for further processing and analysis. This is a key element in automating the analysis of financial reports.
• Intelligent Structuring of Financial Data: The extracted data is then organised and categorised. AI algorithms automatically classify the information, separating it into readable sections, such as: medical equipment expenditure, medical programme delivery costs , administrative costs, in-kind donations and others. This makes GOCC financial reports more readable and understandable, without the need for expert knowledge to analyse them.

2. Objective analysis of GOCC financial data: lessons learned by AI and their relevance for donors

• Visualising Data for Better Understanding: Based on the processed data, AI generates clear visualisations, including charts and tables. These facilitate a quick overview of key information, trends in GOCC finances and expenditure structure for donors and all stakeholders.
• Detailed Analysis of Expenditure Structure: An in-depth analysis of the data, supported by AI algorithms , allows you to precisely determine where GOCC is spending the funds raised. For example, it is clear from the analysis that a significant portion of the budget is consistently invested in the purchase of specialised medical equipment for hospitals across Poland, which directly improves the quality of healthcare.
• Identification of Changes and Trends Over the Years: AI algorithms make it possible to track changes in the structure of GOCC spending over successive finals. For example, the analysis can show an increase in spending in specific areas, such as support for specific medical programmes, or a flexible response to current needs, as in the case of the increase in spending to fight COVID-19 in the 27th Final.
• Assessing Cost Effectiveness and Optimising Activities: AI can also support the analysis of administrative and operational costs of the GOCC, identifying potential areas for optimisation and increasing the efficiency of the use of every penny donated by donors.
• Stories Hidden in the Data: Real Impact on People’s Lives: It is important to emphasise that behind every row in the table and every bar in the graph are real human stories. The medical equipment purchased by the GOCC saves the lives and health of patients across Poland, and the support of medical programmes translates into an improvement in the quality of life for many people. Every number in the WOŚP financial report is not just a dry fact, but first and foremost a testimony of real help and goodness brought to those in need. These are hundreds of thousands of lives saved and smiles on the faces of children and their parents. Data gains real value when we realise that it reflects a real impact on the lives of people helped by WOŚP.

3. Why is AI such an effective tool in analysing charities’ data? Benefits for GOCC and donors

• Efficiency and Automation: the automation of the data acquisition and processing process, thanks to AI and OCR, significantly reduces the time and effort required to prepare comprehensive financial reports. This allows GOCC staff and volunteers to focus on achieving their statutory goals.
• Transparency and Credibility: Using objective and precise AI algorithms to analyse GOCC data increases the transparency and credibility of the information presented. Donors can be assured that the data is analysed fairly and impartially, which builds trust in the organisation.
• Scalability: AI-based systems can process huge amounts of data, regardless of the scale of the organisation and the number of financial reports. This is crucial for fast-growing organisations such as GOCC.
• Detecting Trends and Patterns for Better Planning: Advanced machine learning algorithms are able to identify hidden patterns and trends in GOCC financial data . These provide valuable information that supports strategic planning and decision-making, allowing us to help even more effectively.

4. Development perspectives and conclusions: GOCC as a role model

The use of artificial intelligence in the analysis of Great Orchestra of Christmas Charity’s financial data is an excellent example of the effective application of modern technology in the charity sector. Automation, objective analysis and the possibility of generating detailed reports contribute to the transparency, efficiency and credibility of the organisation’s operations.

The example of the Great Orchestra of Christmas Charity can serve as an inspiration for other entities operating in the field of charity, pointing to the benefits of adapting innovative technological solutions. Further development and implementation of AI in the sector may bring even greater improvements to the financial management and delivery of charities’ statutory objectives. However, it is worth remembering that technology is only a tool, and the real value comes from the human heart and the desire to help. It is empathy and commitment, combined with the analytical power of AI, that create the power to make a real difference in the world for the better.

Sources:

• GOCC data and financial reports available on the organisation’s official website.
• Information on OCR technology and artificial intelligence in data analysis.

Summary

Protecting against threats, defamation and hate speech requires the conscious use of available legal, but also technological tools. In the case of incidents such as those reported by Jerzy Owsiak, both criminal law actions and protection of personal rights through civil means are possible. An effective reaction allows not only to defend against further attacks, but also to build public awareness of the consequences of such actions.

Let us remember – if any information raises our doubts, it is worth checking it and reaching for the source. Technology, to the extent indicated above, can help us not only to verify the accuracy of data or information, but also its proper interpretation.

The simple joint-stock company (PSA) is a relatively new legal form that was introduced into the Polish legal system only in 2021. Its main purpose is to make it easier to do business, which can be particularly useful for young entrepreneurs and StartUp’s (including technology StartUps, dealing with AI or GameDev, among others).

Despite its many advantages, the PSA raises some concerns and uncertainties among potential founders. Therefore, we encourage you to read a summary created with the help of Open AI Chat GPT and Google Gemini, as well as a commentary by our expert to allay your doubts.

Commentary by Open AI Chat GPT and Google Gemini

New

The Simple Public Limited Company (PSA) is a relatively new legal form with the associated low popularity. The lack of long-standing legal practice can lead to uncertainty for potential entrepreneurs about the interpretation of the rules and their application in real business situations. In addition, the PSA is less well-known among the public than traditional legal forms – such as the limited liability company (Ltd.). This can make it difficult to establish business relationships and gain the trust of partners.

Low share capital

A PSA requires a minimum share capital of just £1. For many entrepreneurs, this may seem too low, raising concerns about the company’s financial credibility in the eyes of contractors and investors. It also raises the potential risk of abuse – the low barrier to entry and high flexibility of this type of business may encourage abuse by rogue shareholders.

Flexibility in shaping shareholder relations

PSAs offer a high degree of flexibility in shaping shareholder rights and obligations. This can lead to misunderstandings and conflicts, especially when there are more shareholders.

A simple public limited company is an advantageous solution for start-ups

Low cost of incorporation and financial security

Setting up a PSA is cheaper than a limited liability company due to the low share capital. In addition, as with a limited liability company, the shareholders of a PSA are only liable for the company’s obligations up to the amount of their contributions.

Flexibility in management and the opportunities offered by a PSA

A PSA offers greater flexibility in the management of the company, which can be beneficial for rapidly growing businesses. In addition, a simple PSA allows for liability insurance and capital raising in the form of issues.

Simpler procedures and growing popularity

A PSA requires simpler registration and operational procedures, which speeds up the process of setting up and running a business.

Did you know that you can set up a simple limited company through the S24 portal today? Simply use the service: https://ekrs.ms.gov.pl/s24/strona-glowna

Legal and institutional support

Public institutions offer various support programmes for entrepreneurs, including those who opt for a PSA in addition to the creation of numerous platforms and portals that support the management of PSAs, offering tools and services adapted to this legal form.

General meetings in PSAs – modern solutions and shareholder facilitation – expert commentary

General meetings in a Simple Public Limited Company (PSA) are innovative solutions that significantly facilitate the shareholder decision-making process. PSA, as a legal form introduced in Poland, focuses on flexibility and modernity, which is also reflected in the organisation of general meetings.

Facilitation of Minutes of General Meetings

One of the key facilitations introduced by PSAs is that general meetings do not need to be minuted by a notary public, which is standard in traditional joint stock companies. The only exception to this is resolutions concerning amendments to the articles of association, which require minutes to be taken by a notary public. This is a significant convenience that reduces the costs and formalities of general meetings.

Variety of Voting Forms

The PSA offers a wide range of solutions for the organisation of general meetings, both onsite and online. Shareholders can vote at the general meeting, but also outside the meeting, either in writing or using electronic means of communication. This flexible approach enables shareholders to participate in votes regardless of their location, which is particularly important in this age of digitalisation and globalisation of business.

Minutes and Documentation

The resolutions of the general meeting in the PSA are recorded in the minutes, which include information on the correctness of the convening of the meeting, its capacity to adopt resolutions and the resolutions themselves. The minutes shall be accompanied by evidence of the convening of the meeting, the attendance list and the list of shareholders voting electronically. Resolutions should be signed by those present or at least by the chairman and the person drawing up the minutes. Shareholders furthermore have the right to inspect the minute book and to request certified copies of the resolutions.

Share capital in a PSA

One of the most important features of the PSA, which has already been highlighted by OPEN AI Chat GPT and Gemini, is the very low required share capital of just £1. This is a significant convenience for young entrepreneurs and startups that do not have a lot of financial resources. The share capital can be covered by both monetary and non-monetary contributions, such as shares in another company, movable property (e.g. a car, office equipment) or even the provision of labour or services. Furthermore, the amount of share capital is not set in the articles of association, which gives additional flexibility in managing the company’s finances.

Shareholders’ register and supervisory board

The shareholder register in a PSA can be maintained by a notary public or an entity authorised to maintain securities accounts. This is an important convenience as it ensures the security and integrity of the data contained in the register. The register is kept in electronic form, which facilitates access to information and share management.

The supervisory board, on the other hand, is an optional body, meaning that its establishment is not mandatory. This flexible approach allows the governance structure of the company to be adapted to the specific needs of the entrepreneur. The company’s articles of association may provide for the establishment of a supervisory board, but it is not required.

How to establish a simple joint-stock company?

There are several legal forms of companies in Poland, such as a limited liability company (sp. z o.o.), general partnership, limited partnership and the simple joint-stock company (PSA) discussed above. Each of these forms can be incorporated in two ways: traditionally or online. To set up a company online, simply use the website: https://ekrs.ms.gov.pl/s24/

What information will you need to set up a PSA?

1. details of the shareholders

1. Individual:

• first and last name
• PESEL
• address of residence / address for service
• e-mail address

1. Sp. k:

• name
• KRS no.
• address for service
• address for service of the general partner
• information on the manner of registration of the company (via S24 / traditionally)
• e-mail addresses of the partners

2 Company details

1. Name
2. Registered office + registered office address
3. Amount of share capital
4. Nominal value per share
5. Information on the distribution of shares between the natural person and the sp.k. and amount of contributions
6. Information on the financial year (whether it coincides with the calendar year)
7. PKD + object of the predominant activity
8. Duration of the company (definite/indefinite)
9. Manner of representation
10. Information regarding the management board, i.e:

• how many persons the management board may consist of (e.g. 1 to 3),
• Names, PESEL numbers and addresses for service of persons making up the management board
• function of the individuals on the board (chairman/member of the board)
• the term of office of the board member,

1. Information on whether a supervisory board is to be appointed. If yes:

• information on the number of RN members
• full names, PESEL numbers and addresses for service of the members of the Supervisory Board
• function of individual members of the Supervisory Board (chairman/member)
• Term of office of the RN member

1. Information as to whether a resolution is required to commit the Company to provide services with a value of twice the Company’s share capital,
2. Whether the company is to have any branches

The Simple Joint Stock Company is a modern legal form that adapts to the needs of modern business by offering flexibility and facilitation of general meetings. Thanks to the possibility of voting in writing or electronically, as well as the absence of the need for minutes to be taken by a notary public (with the exception of resolutions to amend the articles of association). In addition, the low required share capital, the flexibility in covering it, the possibility for a notary to keep the shareholders’ register and the optionality of the supervisory board are just some of the advantages of PSAs. These features make the simple joint stock company an attractive option for entrepreneurs seeking efficient and cost-effective solutions.

Regulations cited in Art:

• Art. 300(80) [Shareholder resolutions].
• Art. 300(100) [Minutes].
• Art. 300(3) [Share capital].
• Art. 300(31) [Tasks of the shareholder registrar].
• Art. 300(52) [Management board, board of directors].

Sources:

www.biznes.gov.pl/pl/portal/00168