Commerce law amended, sole-shareholder companies OK. Chairperson, general manager positions can now be separate

Parliament has approved a number of long-awaited amendments to the Code of Commerce which was issued almost 80 years ago.

The new amendments include reducing the minimum number of shareholders in a limited liability company (Société Anonyme à Responsabilité Limité – sarl) to one instead of three shareholders, separating the positions of chairperson and of general manager, and permitting digital correspondence in notification of general assembly meetings....

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