The Novelties of the Law of Ukraine “On Limited Liability and Additional Liability Companies”
One of the most common types of legal entities are companies, in particular, Limited Liability Companies, that allow to combine material and other resources of several participants and at the same time reduce the risk of entrepreneurial activity for each of them. The article deals with the issue...
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| Format: | Article |
| Language: | English |
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Kharkiv National University of Internal Affairs
2019-12-01
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| Series: | Право і безпека |
| Subjects: | |
| Online Access: | http://pb.univd.edu.ua/index.php/PB/article/view/294 |
| _version_ | 1811260723963101184 |
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| author | R. S. Lukashov |
| author_facet | R. S. Lukashov |
| author_sort | R. S. Lukashov |
| collection | DOAJ |
| description | One of the most common types of legal entities are companies, in particular, Limited Liability Companies, that allow to combine material and other resources of several participants and at the same time reduce the risk of entrepreneurial activity for each of them.
The article deals with the issue of the novelties in the legal regulation of the creation and activity of limited liability companies after the Law of Ukraine "On Limited Liability and Additional Liability Companies" act came into force. The adoption of this legislative act provides necessitates the analysis at the doctrinal level of a number of its rules, which regulate the activity of LLC in a new way.
It is noted that for a long time the legal regulation of the activity of this type of companies remained limited and outdated, which led to the emergence of corporate conflicts. It is concluded that the process of streamlining corporate legislation is steadily ongoing, and the contradictions in the legislative regulation of corporate relations are gradually being eliminated.
Regarding the novelties of regulation of the activity of limited liability companies, the author emphasizes the following positive aspects of the Law of Ukraine “On Limited Liability and Additional Liability Companies”: the number of participants in the LLC was lifted; the concept of "corporate agreement" is fixed; the only reason for the establishment of the LLC is the decision of its founders; minimize the list of information that must be displayed in the charter of LLC; included in the Law of the provisions of Chapter V “Substantial and Interest-Related party transactions”; a special chapter was introduced, which regulates the issues of creation and termination of the LLC (Chapter VI “Separation and Termination of the Company”); provides for the appearance of a local act on the regulation of corporate relations in the LLC - the agreement on the termination of the company; the procedure for setting up one or more new partnerships by transferring to it (them) a part of the assets, liabilities and liabilities of an existing limited liability company is regulated in detail. |
| first_indexed | 2024-04-12T18:51:47Z |
| format | Article |
| id | doaj.art-4a2516b68a9a473abc100c7a1469f80f |
| institution | Directory Open Access Journal |
| issn | 1727-1584 2617-2933 |
| language | English |
| last_indexed | 2024-04-12T18:51:47Z |
| publishDate | 2019-12-01 |
| publisher | Kharkiv National University of Internal Affairs |
| record_format | Article |
| series | Право і безпека |
| spelling | doaj.art-4a2516b68a9a473abc100c7a1469f80f2022-12-22T03:20:27ZengKharkiv National University of Internal AffairsПраво і безпека1727-15842617-29332019-12-01754919610.32631/pb.2019.4.12294The Novelties of the Law of Ukraine “On Limited Liability and Additional Liability Companies”R. S. Lukashov0Ternopil National Economic UniversityOne of the most common types of legal entities are companies, in particular, Limited Liability Companies, that allow to combine material and other resources of several participants and at the same time reduce the risk of entrepreneurial activity for each of them. The article deals with the issue of the novelties in the legal regulation of the creation and activity of limited liability companies after the Law of Ukraine "On Limited Liability and Additional Liability Companies" act came into force. The adoption of this legislative act provides necessitates the analysis at the doctrinal level of a number of its rules, which regulate the activity of LLC in a new way. It is noted that for a long time the legal regulation of the activity of this type of companies remained limited and outdated, which led to the emergence of corporate conflicts. It is concluded that the process of streamlining corporate legislation is steadily ongoing, and the contradictions in the legislative regulation of corporate relations are gradually being eliminated. Regarding the novelties of regulation of the activity of limited liability companies, the author emphasizes the following positive aspects of the Law of Ukraine “On Limited Liability and Additional Liability Companies”: the number of participants in the LLC was lifted; the concept of "corporate agreement" is fixed; the only reason for the establishment of the LLC is the decision of its founders; minimize the list of information that must be displayed in the charter of LLC; included in the Law of the provisions of Chapter V “Substantial and Interest-Related party transactions”; a special chapter was introduced, which regulates the issues of creation and termination of the LLC (Chapter VI “Separation and Termination of the Company”); provides for the appearance of a local act on the regulation of corporate relations in the LLC - the agreement on the termination of the company; the procedure for setting up one or more new partnerships by transferring to it (them) a part of the assets, liabilities and liabilities of an existing limited liability company is regulated in detail.http://pb.univd.edu.ua/index.php/PB/article/view/294legal regulationlimited liability companycorporate agreementsignificant transactionscorporate law |
| spellingShingle | R. S. Lukashov The Novelties of the Law of Ukraine “On Limited Liability and Additional Liability Companies” Право і безпека legal regulation limited liability company corporate agreement significant transactions corporate law |
| title | The Novelties of the Law of Ukraine “On Limited Liability and Additional Liability Companies” |
| title_full | The Novelties of the Law of Ukraine “On Limited Liability and Additional Liability Companies” |
| title_fullStr | The Novelties of the Law of Ukraine “On Limited Liability and Additional Liability Companies” |
| title_full_unstemmed | The Novelties of the Law of Ukraine “On Limited Liability and Additional Liability Companies” |
| title_short | The Novelties of the Law of Ukraine “On Limited Liability and Additional Liability Companies” |
| title_sort | novelties of the law of ukraine on limited liability and additional liability companies |
| topic | legal regulation limited liability company corporate agreement significant transactions corporate law |
| url | http://pb.univd.edu.ua/index.php/PB/article/view/294 |
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