The new amendment of the Trade License Act is being prepared – what will be new?

On Wednesday May 14, 2014 the Deputy Chamber approved the government amendment to the Trade License Act (deputy chamber document No. 85).

The suggested legal regulation will mostly influence the active entrepreneurs or the entrepreneurs, whose last trade license has terminated, in particular, in the area of public data in the trade registry. Some, until today published data about these persons shall be considered non-public data as non-public after the new legal regulation comes into force.

As non-public data shall be newly considered  the data on the residence of individuals  on the territory if the Czech Republic, and at individuals without permanent residence in the territory of the Czech Republic, the data about residence  in a different state and the data about the place of the stay in the Czech Republic.

Further, as non-public data shall be classified all data about entrepreneurs whose last trade authorization terminated more than 4 years ago. These data presented until today in the trade registry will be hidden and will be provided by the municipal trade authorities only for those who show the legal interest in receiving such data.

If the suggested legal regulation will be adopted, the amendment to the act becomes effective on January 1, 2015.