Przegląd Ustawodawstwa Gospodarczego nr 12/2010
Miejsce wydania: 2010 Warszawa
Mirosław Budzicki, ALMAMER Wyższa Szkoła Ekonomiczna
Publikacja sprawozdań finansowych banków jako jeden z determinantów zmian wyceny akcji na rynku kapitałowym
Publication of financial statements as a determinante of stock’s value
Companies listed on the Warsaw Stock Exchange have to be obliged to record all transactions relating to operations, financing and investment and then to present timely financial statements to their shareholders and other market participants. According to Polish law, the greater a company is, the more restricted regulations are. Additional requirements were implemented for corporations listed on the WSE in area of financial statement presentation (fair presentation creates transparency). By their nature, financial statement sometimes contain the most interesting information and may have significant valuation implications. For example mentioned obligations concern terms defined a process of financial statements auditing by an external independent institution after every six months. In practice firstly financial reports have been published by companies and afterwards reports audited by accounting firm in which auditor expressed opinions about fairness of the audited financial statements. Theoretically those two publications may influence on share valuation and create higher volatility on the capital market.
The article is focused on examining of changes implemented after audit process and their impacts on capitalization of companies.
Przemysław Gumiński, Uniwersytet Łódzki, Sąd Najwyższy
Niezarobkowa działalność gospodarcza spółdzielczych kas oszczędnościowo-kredytowych
Non- profit activity of spółdzielcze kasy oszczędnościowo – kredytowe (co-operative savings and credit unions, SKOKs)
The article discusses a problem of statutory excluding the admissibility to carry out profit-oriented activity by SKOKs. It raises the issue of the SKOKs’ status as registered entrepreneurs, problems connected with non-profit activity carried out by them. Problems relating to the activity of SKOKs and, in particular, its constituent feature, namely non-profit activity, has already been examined by legal commentators and in jurisdiction. Various opinions have been formulated, ranging from extreme ones totally excluding the right to carry out the activity by SKOKs to the opinion that such an activity is perfectly admissible. A different track of thought is followed by jurisdiction of the Supreme Court under which, as a matter of principle, it is not necessary that SKOKs carry out profit-oriented activity to be granted the possibility to carry out the activity. The matter is still at issue which is also proved by omitting in the draft Act of 5 November 2009 on co-operative savings and credit unions a provision precluding SKOKs from engaging in any profit-oriented activity. The adopted act is the result of Seym’s (Polish Parliament’s) work on draft proposed by MPs included in the parliamentary file No. 1876, brought to Seym for discussion on 19 March 2009. Currently, the Act is reviewed by the Constitutional Tribunal where the President referred it on 30 November 2009 to examine its conformity with the Constitution of the Republic of Poland.
Katarzyna Poroś, Uniwersytet Ekonomiczny we Wrocławiu
Ochrona konsumenta jako strony umowy timesharingu
The protection of consumer as the party to the timeshare contract
In accordance with the meaning of the present Timeshare Directive, timeshare is the right to spend a period of time in a holiday property for a particular period of the year for at least three years. The new Timeshare Directive, which came into force on the 23rd of February 2009 has to be incorporated into Member States’ internal legal systems by the 23rd of February 2011. Accordingly to the new Directive, which is based on the full harmonization order, timeshare contract is the contract concluded for the period exceeding one year, empowering a consumer with the payable right to use at least one accommodation for at least one period of exploitation.
Both current Timeshare Directive, followed by the Polish Statue, and the new Timeshare Directive, aimed at closing the present regulatory gaps and enhance consumer protection, contain certain measures aimed at ensuring consumer protection. The procedures are, as follows: detailed rules on pre-contractual information; the requirements concerning form, minimum content and language of the contract; packet nature of the contract; the certain procedure to withdraw the contract or, in specified circumstances, to claim invalidity of the contract; providing the cooling-off period (tempus ad deliberandum) for consumer and, additionally, the ban of deposits, any advance payment, provision of guarantees etc. to the trader or any third party by the consumer during the cooling-off period.
It is to be stated that the level of protection of consumer as the party of the timeshare contract legally assured seems to be satisfing and sufficient, even for the 21st century European standarts. The level of consumers’ education and information should be the matter of concern and the area of community and domestic legal and practical activity.
Monika Ulżyk, Uniwersytet Śląski
Outsourcing agencyjny w działalności bankowej
Agent outsourcing in banking activity
The article covers issues related to the possibility of entrusting certain areas of banking activities to outer institutions within the framework of agent outsourcing institutions. Questions concerning the formof an agreement that the bank should conclude with an entity that will perform specific areas of banking have been considered, as well as the issues connected with an entrepreneur as a party to an agency agreement have been discussed. Next, views on the possibility of ,,subcontracting” by the entrepreneur activities entrusted to him for execution by the bank are presented. In the remaining part of this article a distinction is made in the way of concluding the contracts, depending on whether the subject of outsourcing are banking transactions, or actual operations. In addition, forms of the agency agreement have been described and its possible application in the field of banking law and consequently in the bank outsourcing.
Comparison was made between the typical agency agreement governed by the provisions of the Civil Code and the same arrangement transposed to the field of banking law. Finally the liability issues related to the entrepreneur as a partner to bank outsourcing have been dealt with as well as the liability for damage to customers caused as a result of the bank's failure to perform or improper performance of the bank outsourcing.
Andrzej Szewc, Uniwersytet Śląski
Granice monopolu patentowego
(P. Kostański, Die Schutzwirkung des Patents nach Polnischem Recht, Baden-Baden 2010, s. 517)
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