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Shield 2.0 (signed by the President)

On Friday (17 April 2020), the Polish President, Andrzej Duda, signed the so-called Anti-crisis shield act on special support measures due to the spread of SARS-CoV-2. The act has officially been called the Anti-crisis shield 2.0.

The most interesting solutions under the Anti-crisis shield 2.0 include:

Labour law

  • Companies employing between 10 and 49 employees as at 29 February 2020 will be eligible to benefit from the 3-month period (i.e. from 1 March to 31 May 2020) of exemption from 50% social insurance contributions remitted on behalf of the employees.
  • It will be possible to conduct preliminary trainings in employee health and safety by electronic means, with the exception of trainings for: students working as interns, employees exposed to hazardous factors and labourers. Additionally, periodical health and safety trainings will be suspended until the state of emergency or epidemic is lifted.
  • At the request of the debtor, the Social Insurance Institution may refrain from charging interest for the delay in remitting contributions due to economic reasons related to COVID-19.
  • There is a possibility to once again take advantage of the downtime pay by persons employed under civil contracts or sole proprietors (in total, it may by used three times).
  • The Prime Minister is now entitled to announce, by resolution, a bank holiday during the state of emergency or epidemic.

Functioning of commercial companies

  • The power of attorney giving authorisation to participate in the (general) meeting of shareholders may be granted in an electronic form and does not have to be signed using qualified electronic signature.
  • The time limit for the submission of the bankruptcy petition, as specified in the Bankruptcy law, shall not begin to run or, if running, shall be suspended.

Financial market

  • Green light has been given to the financial shield allowing the National Development Fund to issue bonds and, subsequently, support companies affected by the current situation.
  • Support for companies, particularly transport providers, will be delivered by the Industrial Development Agency. It is to be offered mostly in the form of guarantees, loans or lease. The support period is up to 12 months after the state of emergency or epidemic is lifted.
  • Micro-loans (up to PLN 5.000) for entrepreneurs not employing any employees; to be able to write off the loan, the entrepreneur will have to carry out business activity for 3 months, counting from the day of receiving the support.

We assume that this is not the final version of the Anti-crisis shield and soon new solutions will be proposed. In the coming days we should know the details of the support offered by the Industrial Development Agency and National Development Fund.

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Should you have any questions or need for support, we invite you to contact our expert, Sebastian GOSCHORSKI:

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Sebastian GOSCHORSKI
Business Development Partner at RSM Poland
Head of China Desk at RSM Poland
e-mail: ekspert@rsmpoland.pl
tel. +48 61 8515 766
fax +48 61 8515 786