Special requirements for members of the management board of limited companies managing alternative investment companies

Abstract

The Act of 31 March 2016, which amended The act of investment funds introduced a new institution to polish legal system – the alternative investment company managers (AIFMs). AIFMs has been supervised by the Polish Financial Supervision Authority (KNF), and their activities have been subject to a number of formal requirements. In Poland, mainly venture capital/private equity funds operate in the form of AIFMs. It became extremely important to provide professional management for these kind of funds. In this article, the author presents the special requirements that the legislator imposes on members of the management board of an alternative investment company, indicates the consequences of failure to meet them, compares the differences in relation to the requirements imposed by the Polish Commercial Companies Code, and analyzes the purpose of the regulation.