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ARTICLE · 18 JULY 1995

Recent Company Law Developments

Bahas Gramatidis & Partners
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GreeceEmployment and HR

By virtue of two Presidential Decrees published in the Government Gazette changes are effected in the publication procedure of balance sheets by corporations and in the drawing up of annual and unified accounts by personal companies (unlimited and limited partnerships). Such changes are effective as of 1st January 1995.

a. Corporations

As regards the balance sheets and turnover of corporations the lower limit on the basis of which they can draw up a summary, instead of an analytical, balance sheet, increases. In this respect the limit of the entire assets increases from 130 million drs. to 500 million drs. Moreover the limit of the turnover goes up from 260 million drs. to one billion drs. On the basis of these data from 1st January 1995 corporations are entitled to publish a summary balance sheet, provided that they meet the following criteria for two consecutive financial years:

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