Ukraine | Legal conflicts in requirements for charters of limited liability companies and additional liability companies have been eliminated

27/05/2021

On 27 February 2021, Law of Ukraine No. 1183-IX “On Amending the Commercial Code of Ukraine Regarding the Elimination of Legal Conflicts in the Requirements for the Charters of Limited Liability Companies and Additional Liability Companies” (hereinafter – the “Law”) came into force. The aim of the Law was to eliminate the existing conflict between the Law of Ukraine “On Limited Liability Companies and Additional Liability Companies” (hereinafter – the “Companies”) and the Commercial Code of Ukraine in terms of mandatory requirements for the Companies’ charters: the Commercial Code of Ukraine contained a requirement to indicate in the charters of the said Companies the participants’ share in the charter capital, while the Law of Ukraine “On Limited Liability Companies and Additional Liability Companies” contains no such requirement.

According to the provisions of the Law, the list of information that must be contained in the Companies’ charters is determined exclusively by the Law of Ukraine “On Limited Liability Companies and Additional Liability Companies”.

The information that the amount of participants’ shares in the charter capital is determined by the founding documents (charter) of the Company has been removed from the provisions of the Commercial Code of Ukraine.

How SCHNEIDER GROUP can help

For detailed information on the current requirements for the information to be contained in the Companies’ charters, as well as to amend your Company’s Charter, contact us. SCHNEIDER GROUP legal specialists in Ukraine are ready to amend your Company’s Charter in accordance with the requirements of the current legislation of Ukraine.

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