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ARTICLE · 12 DECEMBER 1995

Commercial Law Developments

Bahas Gramatidis & Partners
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GreeceEmployment and HR
1. Companies Limited by Shares

Article 7 of Law 2339/1995, which has amended Law 2190/1920 "On Companies Limited by Shares", provides that the payment in cash required for the increase of the share capital of a company limited by shares, likely increases thereof, as well as deposits made by shareholders and concerning their participation in any future capital increase shall be effected mandatorily by means of a deposit in a bank account in the name of the company. In such a case the banks must indicate on the particulars issued to this end the full name and surname of the shareholder/depositor as well as any other particular deemed necessary for the facilitation of the companies and the Services of the Ministry of Trade involved. It is anticipated that quarrels during the audits undertaken by the competent public services for the ascertainment of payment of the amounts required by the law shall be thereby eliminated.

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