Banking & Finance
On May 20, 2020, the Polish government adopted the fourth and final package of anti-crisis solutions known as "Shield 4.0".
The Financial Shield of the Polish Development Fund (PFR) is a solution aimed at supporting enterprises that have suffered losses as a result of the coronavirus epidemic.
The Financial Shield of the Polish Development Fund is a solution aimed at supporting enterprises which have suffered losses as a result of the coronavirus epidemic.
On 31 March, 2020 an amendment to the Act on specific solutions related to the preventing, counteracting and combating COVID-19, other infectious diseases and crisis situations caused by them, together with other acts (the “Act”) entered into force.
On 26 March 2020, the Parliament received a governmental bill amending the Act on special arrangements for preventing, counter-acting and combating COVID-19, other infectious diseases and crisis situations caused by them and certain other laws (hereinafter the 'Anti-Crisis Shield' or 'the Act'), which is being carried out by the necessary legislative process in an extraordinary manner. Since, in accordance with Article 92 of the Act, it enters into force on the day following its promulgation, with a number of exceptions, including those providing for the retroactive effect of certain regulations, it seems necessary to examine the main solutions provided for in the Anti-Crisis Shield now.
During the press conference, the President of Poland and the Prime Minister, following the meeting of the Cabinet Council, announced an outline of package of support actions for the society and entrepreneurs referred to as “Anti-crisis Shield”.
With the issuance of Decree 1351 of 2019, some provisions of Decree 2555 of 2010, were modified related to investments in participations issued by stock exchange funds, temporary transfer operations of securities in the counter market, and the disclosure of information in the securities market through electronic means, among others.