Poland introduces control over Non-EU/Non-OECD investments in certain sectors
24 June 2020
On 19 June 2020 the Polish parliament adopted a new act intended to counteract the effects of the Coronavirus outbreak (Shield 4.0). Among other things, the act introduces substantial changes to the foreign investment control regime for an interim period of two years. Entities from outside the EU and OECD will have to notify the Polish Competition Authority the acquisition of shares in or control over Polish companies active in certain sectors. Failure to comply could render the relevant transaction invalid and may result in substantial fines and/or imprisonment. The new provisions will enter into force on 23 July 2020.