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Thread: Company law 479-08 to be amended

  1. #1
    Join Date
    Jan 2004
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    Default Company law 479-08 to be amended

    Company law 479-08 is to be amended by project introduced by the Presidency and due to be approved by congress. Among the announced changes are: to make the law more comprehensible for easier interpretation and to extract the regulatory body regarding stock exchange. Also redefinition of the compliance officer figure and simplification of share transfer within the SRLs (Sociedades de Responsabilidad Limitada).

  2. #2
    Join Date
    Jun 2004
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    Question What??????????


  3. #3
    DR1 Expert
    Join Date
    Jan 2002
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    The proposed amendment does not affect the basic structure of the new company law. The idea is to make it more business-friendly. Among the changes proposed:

    1) Making the transfers of shares in the SRL's (LLC's) easier.

    2) Creating a new type of company: the simplified SA (SAS).

    3) Making the penalties against company directors and officers less drastic.

    In any case, I doubt very much this bill will pass before mid-August, when Congress reconvenes after the elections.
    Fabio J. Guzman
    Guzman Ariza
    Sosúa, Santo Domingo, San Francisco de Macorís, Cabrera
    Las Terrenas, Samaná, Bávaro (Punta Cana) and La Romana
    Dominican Republic

    [email protected]


    The opinion above should not be construed to be formal legal advice and was given without reviewing the facts and documents pertinent to the case. The reader should NOT act based upon this opinion without seeking professional counsel.


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