Publication date: 27.05.2024
On Amendments to Article 17 of the Law of Ukraine "On State Registration of Legal Entities, Physical Persons - Entrepreneurs and Public Formations" regarding the state registration of changes to the information on the amount of the authorized capital of a limited liability company and a company with additional liability
Introduction
The amendments to Article 17 of the Law of Ukraine "On State Registration of Legal Entities, Physical Entities - Entrepreneurs and Public Formations" concern the state registration of changes in the information on the amount of the authorized capital of limited liability companies (LLC) and companies with additional liability (ALC). These amendments are aimed at improving the registration procedure and ensuring greater transparency and protection of the rights of participants of companies.
Major changes
1. Simplification of the procedure for the registration of changes in the amount of authorized capital
The proposed amendments provide for the simplification of the procedure for the State registration of changes in information on the amount of the authorized capital of LLCs and ALCs.
This includes:
Shorter timeframes for reviewing documents submitted for registration of changes.
Enabling electronic submission of documents through the state portal.
Reducing the number of documents required for registration of changes.
2. Increasing transparency and accessibility of information
The new provisions provide for more detailed coverage of information on changes in the authorized capital in public registers. This includes:
Mandatory disclosure of changes in the amount of the authorized capital on the official website of the register.
Providing free access to this information for all interested parties.
3.Ensuring the protection of the rights of participants of companies
The amendments to Article 17 also include provisions aimed at protecting the rights of participants of companies. These are:
The establishment of clear rules on the procedure for adopting a decision to change the amount of the authorized capital at the general meeting of participants of the company.
The introduction of mechanisms for appealing against unlawful decisions to change the amount of the authorized capital.
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Impact on the business environment
For limited and additional liability companies
Simplification and improvement of the procedure for registering amendments to information on the amount of authorized capital will help to reduce the administrative burden on LLCs and ALCs. This will make it possible to focus on business development rather than bureaucratic procedures.
For investors and partners
The increased transparency of information on the authorized capital of companies will contribute to greater confidence on the part of investors and partners. Free access to up-to-date information will help to make informed decisions on investment and cooperation.
Conclusion
The amendments to Article 17 of the Law of Ukraine "On State Registration of Legal Entities, Physical Entities - Entrepreneurs and Public Formations" regarding the state registration of changes to the information on the size of the authorized capital of LLCs and ALCs are aimed at simplifying administrative procedures, increasing transparency and protection of the rights of participants of companies.These changes should have a positive impact on the business environment, contributing to the development of entrepreneurship and attracting investment in Ukraine.
