Cap Act lands in the basket – Puls Biznesu

After 16 years of formal validity of disappears law limiting salaries of board members in companies with at least 50-percent state-owned or local governments (ie. Cap Act). Announced at the beginning of 2016. Year Dawid Jackiewicz, Minister of State Treasury.

– On Thursday a draft law on the principles of shaping remuneration of persons managing certain companies was adopted by the Standing Committee of the Council of Ministers. Next Tuesday will be a government – says Dawid Jackiewicz. This is surprising news because the project has not yet been published anywhere and was not in the consultations and arrangements. The Treasury worked on it independently. The first of the information appeared only yesterday the list of legislative work of the Council of Ministers (on the Prime Minister’s Office).

Maximum limit

We learn from it that the purpose of the new law is to provide clear rules for determining salaries of members of management and supervisory boards “by linking remuneration with the current situation of the company and the scale of the business, and thus the scale of their responsibilities. Principles of remuneration of members of management will be determined by resolution of the general meeting of the company. ” Remuneration will consist of two parts: a fixed (monthly) and variable (for the year). The fixed part is dependent on the scale of the company, its assets, income and employment size. The moving part will be based on the objectives of management.

– The general meeting of shareholders shall establish the rules only wage in the company. They will depend on many factors, primarily on the size of the company, its revenues, achieving the investment objectives and zarządczych.Natomiast specific amount of remuneration of the manager will be determined by the supervisory board, as it is now. We do not accept the competence of the supervisory board. The maximum ceiling of monthly earnings of board members in the largest state-owned companies, including a fixed part and bonuses, we set at 80 thousand. zł net – says Dawid Jackiewicz. The Act re-regulate the issues of severance. They will be acceptable provided overwork at least throughout the year, and the amount can not be higher than three times the fixed portion of remuneration.

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