Anna Babich: the Charter company now known as the “Bible” of society

Through the joint efforts of legal practitioners, representatives of the Centre for commercial law, regulators and lawmakers, the Ukrainian company will “play” a new, simple and understandable rules. July 17, entered into force the Law of Ukraine “On limited liability and additional liability companies” No. 2275-VIII.

Anna Babych, partner at Aequo law firm, took an active part in the work on the draft law, commenting on some of his novels, pointed out the two very good news regarding the content of the Charter of the LLC.
The new law reduced the list of mandatory provisions of the Charter. Mandatory settlement it is now only three questions: the name of the company, management bodies and related issues, as well as the procedure for becoming a new participant in society and out of it. But information about the membership of the society, the amount of their shares and the share capital is no longer required.

This, at first glance, a slight change can hardly be overestimated. Changes in the composition of participants now does not require amending the Charter companies, and minority shareholders will not be able to block such changes. Finally, our regulation has grown to the best international practices, and we will use the Unified state register (usr) for the purpose.
Now the Charter will not be a formality, but will be a kind of “Bible” of society. Dispositive that the law allows to establish corporate governance that meets the needs of specific companies.


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