Regulatory Alerts2004-01-30
Law No. 2003-036 on Commercial Companies
The Malagasy Ministry of Justice, acting through the National Assembly and Senate, issued Law No. 2003-036 to establish a comprehensive legal framework governing the constitution, operation, and dissolution of commercial companies in Madagascar. The legislation mandates precise statutory requirements for corporate naming, registered offices, capital structures (including variable and minimum capital rules), and partner contributions in cash, kind, or industry. It further standardizes the rights and obligations attached to social securities, defines transferability and negotiability rules, and establishes joint liability for founders and management regarding statutory formalities and capital modifications.
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