Company law 479-08 to be amended

O

Oche

Member
Jan 6, 2004
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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).
 
F

Fabio J. Guzman

DR1 Expert
Jan 1, 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.
 
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