Main changes in the field of corporate law
1. Removal of beneficial owner data ▸ The requirement to include in the articles of incorporation the identification data of the beneficial owners and the manner in which control is exercised over companies, irrespective of their legal form, is repealed. 2. Online participation in general meetings. Introducing electronic voting ▸ The possibility for shareholders to participate and vote by electronic means of distance communication in general meetings, with the observance of the technical conditions provided by Companies Law No 31/1990, without the need for their physical presence, is introduced. ▸ The obligation to include in the convening notice a description of the procedures to be followed by shareholders in order to participate and vote online in the general meeting is introduced, whenever participation by electronic means of distance communication is also ensured. 3. New powers of the board of directors▸ The possibility of delegating to the board of directors, respectively the executive board, the setting up or closing down of secondary establishments (i.e. branches, agencies, representative offices or such other units without legal personality) is introduced.
▸ The possibility for the board of directors to amend the convening notice of the general meeting within a maximum of 15 days from the time of publication is introduced, with the obligation to publish the amended version of the convening notice at least 10 days before the general meeting, on the date mentioned in the original notice.
