Legislation on legal entities will be amended in the field of reorganization procedure

Dec, 16 2020

The Ministry of economic development of the Russian Federation has taken initiative to amend the Federal laws on joint-stock companies (JSC) and limited liability companies (LLC) in order to fix in these legislative acts the provision on reorganization of business entities with simultaneous combination of its various forms.

It should be noted that the Civil code of the Russian Federation establishes such possibility, however it contains only general provisions and special rules regulating this issue are absent. That is why it was decided to bring legislation on business entities into a line with provisions of Civil code.

The following amendments are proposed:

  • possibility of reorganization with combination of its various forms;
  • possibility of reorganization with participation of legal entities of different business forms;
  • separate decision-making on each form of reorganization within the same agenda.

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