Management Bodies In A Limited Liability Company: An Overview Of The Legislation

  • Liliana Sishchuk

Abstract

The article analyzes the provisions of the Law of Ukraine «On Companies with Limited and Additional Liability» regarding the procedure for the establishment and functioning of management bodies. Determined that the legislative novelties aimed at ensuring optimal flexible system of corporate governance in companies with limited liability. The grounds for the convening of the general meeting of the limited liability company are disclosed, the forms of conducting and the procedure of decision-making by the participants of the company at the general meeting are described. A comparative legal description of the law of the European Union with the general European standards and legislation of the countries of the European Union has also been carried out.
Particular attention is paid to the regulation of the executive body and supervisory board. The presumption of creation in a limited liability company of a sole executive body is determined. Positive view is taken of the definition of concepts such as «official of a company», «affiliated person», «conflict of interests». It is proposed at the legislative level to consolidate the norm on the obligation of the company to approve at the general meeting of the participants the provisions on the executive body and the provisions of the supervisory board, which prescribe in detail the powers of members and functioning of these controls.

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Published
2019-06-24
Section
Articles