Due to provisions implementing the simple
stock company into Polish law, and provisions on “dematerialisation of
private joint-stock companies”, the Commercial Companies Code contains
cryptic wording on the option of maintaining a shareholder register for these
two types of companies, “in electronic form, as a dispersed and
decentralised database”.
We have addressed the question of this option repeatedly because it is potentially an opening for “tokenisation” of shares. This means that in a simple stock company or joint-stock company, shares can be issued as blockchain tokens. Simple rewording of two identical provisions in the Commercial Companies Code could therefore connect the world of decentralised registers and shareholdings, the latter being a concept recognised in law, in both of these types of joint-stock companies.