I. – 導入
2012年6月14日、下院議会は正式に資本会社の合併及び分割に関する情報開示義務の簡素化に関する法律を承認した。なお、修正はすべて上院での審議の間になされた。
これにより、資本会社法及び商事会社の組織変更に関する法律の改正を通じて、合併及び会社分割の条件を簡易化することを目的としたヨーロッパ令がスペインの法制度にも導入されることとなった。また、当該法は、資本会社法第348条bisの適用を2014年12月31日まで延期するという経過措置が附則として含まれている。
II. – CONTENT OF ARTICLE 348 BIS OF CCA
Since October 2, 2011 article 348 bis of CCA states that starting from the fifth fiscal year, as from the time of registration of the company with the Companies Registry, the partner who voted in favour of the distribution of company profits shall have the right to exit the company if the general partner’s meeting does not agree the distribution as a dividend, of at least a third of the profits obtained during the previous fiscal year derived from the operation of the corporate purpose, provided that said profits are legally distributable.
For more information on the content of article 348 bis of CCA please click here.
III. – CONCLUSION
The suspension of the article in question is a response to an amendment made by the Catalan Parliamentary Group (Convergència I Unió) on the grounds of a Green Paper published by said Parliamentary Group and unanimously passed by the Congress’ Finance and Competitivity Commission on March 14, 2012. This urged the Government to “to study and boost, within the framework of the new Commercial Code that is being developed by the Ministry of Justice, the necessary legislative measures to be introduced into the Capital Companies Act in order to, without prejudice to the right of exit and the right of distribution of legally distributable dividends arising from the operation of the corporate object which assists minority shareholders, avoid that unlisted companies may fall into difficult financial situations.”
Consequently, the suspension of article 348 bis of the CCA responds to the attempt to buy time until the development and approval of the new Commercial Code, which shall also deal with this corporate phenomenon of distribution of dividends to minority shareholders.
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2012年6月22日
