Highlights of 2023 Revision to Company Law of China
On December 29, 2023, marking the 30th anniversary of the enactment of the Company Law, China released the Company Law of the People’s Republic of China (2023 Revision), introducing adjustments to various aspects, including shareholder capital contributions, organizational structure of companies, liabilities of senior officers, etc. The implementation of this revision is scheduled to commence on July 1, 2024. This article provides an overview of the noteworthy changes to the Chinese corporate system resulting from this revision.Spain: Companies will now be able to carry out certain procedures with notaries and at registries without the signatory having to be physically present
Law 11/2023, published in the Official State Gazette on May 9, 2023, has adapted Spanish company law to the European directive on the use of digital tools and processes.Chile: Implementation of the Energy Efficiency Law moves forward
With the issuance of Resolution 13 of 2023, the implementation of the Energy Efficiency Law of 2021 (Law 21305) is moving forward. This new resolution lists the companies that must actively manage their energy consumption and how it should be implemented.Spain: The reform which reduces the minimum capital required to set up a limited liability company from 3,000 euros to 1 euro has been published
The new legislation, which will come into force twenty days after its publication in the Official State Gazette, amends various aspects of the Capital Companies Law.