Dematerializacja akcji spółek niepublicznych – ewolucja czy rewolucja?
Dematerialisation of shares of non-public companies – evolution or revolution?

Summary/Abstract: On March the 1st of 2021, the shares of all joint-stock companies and limited joint-stock partnerships were dematerialized. According to the legislator, the introduced amendment was supposed to be evolutionary, but the introduced legal norms revolutionize the way companies operate in terms of share registration by introducing a register of shareholders. The article presents doubts as to the legal consequences arising in connection with the amendment to the Commercial Companies Code, including their compliance with the Constitution. The amendment introduced, contrary to the legislator’s claims, is not evolutionary, but revolutionary, and has not been preceded by an analysis of its impact on the functioning of joint-stock companies and limited joint-stock partnerships. Should be assessed as critical transfer of competence quasi-governmental authority to private entities engaged in the register of shareholders without the introduction of an appropriate system of judicial supervision.

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