FinlandFamily and Matrimonial
Finland is in a process to amend its Companies Act to correspond with EC legislation. The Finnish government has, after several years of preparation, submitted a proposal to the Parliament for an extensive revision of the current Companies Act. The following text describes the most important changes in the proposal compared to the current legislation.
1. DISTINCTION BETWEEN PUBLIC AND PRIVATE COMPANY
One of the most significant changes is the introduction of two different types of limited liability companies. A private limited liability company has a minimum share capital of fifty thousand (50,000) marks (approximately 10,000 USD). A public limited liability company has a minimum share capital of five hundred thousand (500,000) marks (approximately 100,000 USD). Only securities of a public company may be offered to the public and be publicly traded on stock markets. The development of the securities' market and the new demands on the protection of investors are the main reasons
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