Public Procurement: Disqualification of Participation ofJoint-Stock Companies with BearerShares
Sunday, 28 July 2013 14:55

On 15. 9. 2010, the amendment of Act No. 137/2006 Coll., on Public Procurement, became effective that has introduced, inter alia, a number of significant changes of the main qualification criteria applicable to contractors. If the contractor is a legal entity, it is obliged, as a part of documenting its basic qualifications, to present a list of its partners or members. In the case of joint-stock companies, the amended Act only permits that public procurement contractors be joint-stock companies with name-registered shares that present an up-to-date list of their shareholders. Thus, it is no longer possible for joint-stock companies withbearer shares to submit their bids in publicprocurement tenders. The disqualification of joint-stock companies with bearer shares from the publicprocurement process is being criticised, since it brings about a threat of suits being filed for a breach of the EU legislation and it does not reflect the cases of potential complex ownership structures of joint-stock companieswith name-registered shares. This issue should be rectified by the next amendment of the PublicProcurement Act that is intended to cancel this restriction. The House of Deputies of the Czech Republic has approved the amendment in the first reading. The concept of transparency of the public procurementprocess consisting in the attempts to make publicprocurement accessible only to companies with transparent ownership structure should be pursued by the "large" amendment of the Public Procurement Act being prepared for the first half of 2011. Joint-stock company: profit distribution may only be approved by 30 June of the relevant year.

 
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