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Estonia · Law · SE

148

Commercial Code Amendment Act (transfer of part)

avaldatud riigiteatajasEstonia· Riigikogu· ET

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AVALDATUD_RIIGITEATAJAS

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10 March 2020

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Summary

The bill simplifies the transfer of shares of a private company and eliminates unnecessary restrictions and formal requirements. The draft establishes the minimum share value as one cent instead of the previous one euro, repeals the form requirement for the transfer and pledging of the share for all private limited companies, and allows such a limited company whose paid-in share capital meets the prescribed minimum requirement to provide for a share in the articles of association with the consent of all shareholders simplified procedure for the transaction of transfer and pledging, i.e. freedom of form enabling written reproduction. Reducing the nominal value of a share of a private company from one euro to one cent allows more flexibility in determining the sizes of shares of a private company. According to the current law, both the obligation transaction of the transfer and pledging of the share of the private limited company and the disposition transaction must be notarized (unless the shares of the private limited company are registered in Estonia in the securities register).

Machine translation from Estonian. The official text remains authoritative.

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