On June 17, 2018, the Law of Ukraine "On Limited Liability Companies" (the "Law") came into force, according to which the statutes of all limited liability companies should be brought into compliance. 

The Law gives a year to change the statute, but state registrants already refuse to register any changes (including address changes) without bringing the statute in compliance with the law. 

According to NEW RULES NOW:

  • the director is liable to the owners of the Companies and is liable to dismiss without compensation;
  • to responsible persons to the owners and the law may include other persons; From now on, the validity of individual company laws requires the consent of the owners - significant transactions, the value of which exceeds 50% of the net assets of the company in the previous quarter;
  • the members of each society must regulate relations between themselves, in particular regarding the acquisition, pledge and sale of corporate rights - The law contains many surprises on these issues. To do this, it is necessary not only to amend the statute, but also to conclude a separate corporate agreement;
  • it is possible to set different percentages of votes required for voting on different issues;
  • and there is still a provision on conflict of interests, payment of participants' contributions and many other interesting innovations.

We are glad to discuss with you the volume of necessary changes and the practice of their display in the charter of limited liability companies.

Contact persons: 

Marina Kucherenko - Senior Associate of OMP, m.kucherenko@omp.ua 044 391 30 01 

Olga Ovchinnikova - Associate of OMP, o.ovchinnikova@omp.ua 044 391 30 01

Kind Regards, 

Law Offices of "OMP"

9 Tarasivska, Kyiv 01033, Ukraine
Tel: +38 044 391 30 01
Fax: +38 044 391 30 02
E-mail: office@omp.com.ua