In connection with the effective date of the Act No. 90/2012 Sb., on business corporations, as amended, the so called capital companies (i.e. the companies limited and the joint stock companies) are obliged to execute the contract on exercise of the office of the member of the body of the company in writing. The contract on exercise of the office is subject to approval by the supreme body of the company. It is necessary to consider that possible changes of the contract on exercise of the office will have to be made in writing even in the future, incl. the obligation of their approval by the supreme body of the company. The new legal regulation emphasizes transparent remuneration of the members of the body of the company; requisites of the contract on exercise of the office are regulated in details in provisions of § 60 et ff of the BCA. BCA stipulates a relatively high sanction if the companies fail to adapt the existing contracts on exercise of the office to the new legal regulation – if review of the contracts is not made within 6 months after the effective date of BCA, exercise of the office is in principle considered gratuitous.
