Regulatory Alerts2011-08-02
Law 25/2011 of 1 August, Partially Amending the Capital Companies Law and Incorporating Directive 2007/36/EC on Shareholder Rights
The Spanish State enacted Law 25/2011 to reduce organizational costs for capital companies by eliminating redundant publication requirements and to transpose Directive 2007/36/EC regarding shareholder rights in listed companies. The legislation modernizes corporate governance by allowing flexible administrative structures, regulating legal person administrators, and facilitating electronic participation and voting in general meetings. It also unifies certain regulatory differences between public limited companies and limited liability companies while establishing disciplinary sanctions for non-compliance with meeting publicity and voting result publication obligations.
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