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Making amendments to the charter Back

On June 17, 2018, the Law of Ukraine “On Companies with Limited and Additional Liability” came into force, according to which representatives of such organizational forms need to take a number of steps to amend the Company’s Charter.

Within a year from the moment the new Law has come into force, that is until June 17, 2019, in the Company’s Charter there is the following required:

1. To regulate the process of changing the size of the Company’s authorized capital.
2. To identify the bodies of the Company and provide for their competence and the procedure for making decisions.
3. To exclude the Audit Commission with the replacement of such with the Supervisory Board or not.
4. To define the procedure for joining and leaving the Company.
5. To amend and supplement the procedure for convening and holding general meetings of participants.
6. To introduce the notions of “significant deals” and “deals with interest”.
7. To regulate the procedure for purchase, alienation and inheritance of a participant’s share in the authorized capital of the Company, as well as the procedure for the participant to exercise prevailing right.
8. To provide for the specifics and limitations of paying dividends to participants.

Having many years of successful experience in corporate law, TEFFI Law Firm is ready to help Clients bring their Companies’ Charters into compliance with the new legislation in a timely manner.

• Also our team can help you with:

  • drafting of corporate contracts;
  • drafting of irrevocable powers of attorney and agreements on the termination of a company.