Amendments to the Law "On Limited and Additional Liability Companies"

From the 26th of September 2022 a new procedure for conducting and signing of the protocols of general meetings of members of a limited liability company and a company with additional liability will apply - in accordance with the amendments to the Law "On Limited and Additional Liability Companies".

Thus, in accordance with part four of Article 33 of the Law "On Limited and Additional Liability Companies":

1) a protocol is kept at the general meeting of participants, which records the progress of the general meeting of participants and the decisions made;

2) the protocol is signed by the chairman of the general meeting of participants or another person authorized by the meeting from among the company's participants or their representatives, unless otherwise provided by the company's charter;

3) the protocol containing information on the decision to change the head of the company, in the event that the votes of no more than 10 people are sufficient to make such a decision, shall be signed by the participants (their representatives) who voted for such a decision and whose number of votes is sufficient to make the decision, if otherwise not provided for by the company's charter;

4) each member of the company who took part in the general meeting of members can sign the protocol.

Thus, the rules for signing the protocol containing information on the decision to change the head of the company have been brought into line with paragraph 6 of the first part of Article 15 of the Law "On State Registration of Legal Entities, Individual Entrepreneurs and Public Organizations".