The Government of the Republic of North Macedonia has adopted a Decree , which affects the convening and the holding of a shareholders’ assembly in joint stock companies and a shareholders’ meeting in limited liabilities companies during the state of emergency. The Decree entered into force on 26th of March 2020.
The Government of the Republic of North Macedonia has adopted a Decree with a force of law regarding the applicability of the Companies Law during the state of emergency in the country. In articular, this Decree regulates the convening and the holding of a shareholders’ assembly in joint stock companies (registered under the applicable Companies Law as „AD“) and a shareholders’ meeting in limited liabilities companies (registered as „DOO“) during the state of emergency.
In accordance with the Decree, the annual shareholders’ assembly in ADs and the annual shareholders’ meeting in DOOs, the procedures for convening of which have already started, shall not be held during the declared state of emergency in the country.
Furthermore, all the initiated procedures for convening annual shareholders’ assembly or shareholders’ meeting are being postponed during the declared state of emergency in the country.
In relation to the above, certain items remain open for consideration:
Further explanation from the Government and other competent bodies on the above questions would be needed.
Papazoski and Mishev Law Firm can provide you with:
For more details, please refer to your usual contact within Papazoski and Mishev Law Firm or the persons indicated in the Contacts Section.
Legal Disclaimer: The material contained in this alert is provided for general information purposes only and does not contain a comprehensive analysis of each item described. Before taking (or not taking) any action, readers should seek professional advice specific to their situation. No liability is accepted for acts or omissions taken in reliance upon the contents of this alert.