Corporations: Recent Developments

By virtue of a bill introduced in the Parliament for endorsement major changes are effected in the Law 2190/1920 on ''companies limited by shares'' (SAs). Such changes are as follows :

- The requirements concerning the abolition or limitation of the privilege

pertaining to preference shares of corporations and the conversion of preference shares into ordinary ones with vote are set out .

- The lower limit of the share capital of a corporation resorting to a public subscription and the conclusion of a bond loan by public subscription is raised from drs. 10 million to drs. 100 million.

- The remuneration of members of evaluation committees for company assets is effected by the interested parties upon completion of the evaluation without state involvement.