Haarmann, Hemmelrath

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Section 66, para 3 Commercial Code

• Benefits granted in favour of managing director
• case private trip with company car, accident -
  neither approval by general meeting, nor
  contained in managing directors contract for
  private use
• will insurance pay ?
• worst case managing director has to pay cost in
  case general meeting is not willing to grant
  subsequent approval
• tax, social security
• by the way drivers license

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Beware of Transfer Pricing

• What is transfer pricing?
• Can you document what you are doing?
• Are you trying to defend the indefensible?

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Customs Duties

• What is so special about May 2004?
• Are you ready for it?
• Buy now - or wait?
• Watch your documentation

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Section 196a Commercial Code

• Czech company issues guaranty for loan granted to
  foreign parent company
• without approval of general meeting, potentially
  expert opinion invalidity of security
• also accession to debt

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VAT

• Watch monthly/quarterly filing deadlines
• Do not overlook 25 April 2004
• Use credit notes with caution

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Sundry things to think about

• Property transfers
• Reduction in Corporate taxes
• Removal of EU dividend and interest payments
• Tax loss set off

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Section 66a Commercial Code

• Groups of companies - frequent mistakes
• obligation to prepare report on relationships
  violated
• liability risks for managing directors
• liability risks for managing directors of parent
  company - agreement on settlement by end of year
• Recommendation for critical cases

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Employment law

• Delivery of Notice - to the own hands/witnesses!

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Real Estate Law

• 680 (3) Civil Code - lessee to terminate in
  case of any change of ownership

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Intellectual Property

• Domain Grabbing

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Competition Law

• Restrictive Practices - EU-law!

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Leases

• Rights of Trustee in Bankruptcy to terminate
  lease - nice possibility to blackmail

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Labour Law

• Probation Periods with whom to agree upon,
  maximum duration

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Intra Group Changes

• Listed companies - mandatory takeover bid in case
  of intra-group transactions?
• Acting in concert in interpretation of SEC
  having votes in target company

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Data Protection

• Collecting data and you dont know it

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Your contact persons

• Arthur Braun, M.A. arthur.braun_at_haarmannhemmelra
  th.com
• Ian Rowbotham ian.rowbotham_at_haarmannhemmelrath.co
  m

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www.haarmannhemmelrath.com