On Tuesday 16 January 2018. the President signed an amendment to the Restructuring Law, which adapts its provisions on state aid to the conditions required by the European Commission in the notification "Aid scheme providing for the granting of aid to rescue and restructure small and medium-sized enterprises".
The amendment to the Restructuring Law will provide entrepreneurs who are repairing their companies with specific financial assistance from the state. The new regulations have been long awaited by restructuring advisors and companies undergoing restructuring.
Under the new law in force since 1 January 2016, restructured companies can apply for public aid, e.g. in the form of spreading debts to the state treasury (such as overdue ZUS contributions or taxes due to the tax office) into instalments. According to European Union regulations, until now, state aid for entrepreneurs could only be granted in exceptional situations, only after obtaining approval from the European Commission under the so-called notification procedure. Unfortunately, notification is a long process, taking on average up to 15 months.
Therefore, the Ministry of Justice has prepared an amendment to the restructuring law, according to which an entrepreneur can receive financial aid before initiating restructuring proceedings. This is to enable them to develop a restructuring plan or conduct business activity until the plan is implemented. Thanks to the new regulations, it will no longer be necessary to make an individual notification of such aid. The new Article 193a introduced in the Act will provide a basis for granting small and medium-sized enterprises receive restructuring aid or temporary restructuring support.
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