Joint Legal and Agricultural Committees Meeting


On August 2, the Chamber held a joint meeting of its Agricultural and Legal Committees, devoted to the Draft Chamber Letter regarding amendments to the Law of Ukraine “On Limited Liability Companies and Additional Liability Companies”. The amendments are related to the requirements to get approval of the general meeting for all deals that exceed 50% of the net assets of the company.

According to the Member Companies, such requirement has a number of risks for business, firstly, because it significantly hampers the process of making decisions and, therefore, slows down business processes and secondly, because it creates risks of agreements to be declared void.

To resolve the issue, it was proposed to address the Verkhovna Rada of Ukraine Committee on Economic Policy with a position paper containing proposals to amend the current Law.