The President of the Office of Competition and Consumer Protection (UOKiK) has released updated explanations on reporting transactions under investment control and the office's actions in this area. The document aims to address market expectations, including businesses and law firms.

The amendments to the law granting the President of UOKiK the ability to control certain investments came into force in July 2020. This move is designed to safeguard Polish companies crucial for public order, safety, or health from being acquired by entities outside the EU, EEA, or OECD, aligning with similar regulations in countries like Germany, France, or Italy.

The President of UOKiK has initiated 15 proceedings on investment control to date. The updated guidelines are intended to assist businesses in obtaining approval for transactions and collaborating with the office, clarifying procedural matters and addressing concerns raised by entrepreneurs and their representatives. The regulations also cover submitting the FDI Form to the European Commission, with a focus on protecting Polish entities in key sectors such as energy, telecommunications, or healthcare. Entities with revenues exceeding €10 million in Poland fall under the reporting obligation, which applies to entities outside the EU, EEA, or OECD.

The process involves two phases: a preliminary review and a substantive investigation. Non-compliance or failure to notify can result in fines of up to €50 million or imprisonment. The law does not mandate the President of UOKiK to seek the Consultative Committee's opinion. The updated guidelines on investment control procedures can be accessed on the UOKiK website.