Notaries remind companies that have yet to amend their articles of association to hurry before the end of the year
Vilnius, 21st December (Lithuanian Chamber of Notaries). With only ten days left till the end of the year, Lithuanian Chamber of Notaries reminds that companies are obliged to formalize changes concerning denomination of authorized capital related to the amendments of articles of association of stock companies and joint stock companies.
“Amendments to the Law that came into force two years ago provided that the expression of currency from litas to euro must be changed in articles of association of SC and JSC within 24 months,” – said Marius Stračkaitis, the president of Lithuanian Chamber of Notaries, the notary of Klaipeda.
Law on the Redenomination of the Nominal Value of Share Capital and Securities of Stock Companies and Joint Stock Companies and on the Amendment of the Articles of Association of these Companies that came into force on 1st January 2015 provides that articles of association of the companies must be amended by expressing authorized capital and the nominal value of shares in euro. Amended articles of association of companies must be submitted to the administrator of the Register of Legal Entities within 24 months from the date this law comes into force. This term shall expire on 31st December.
Amendments to articles of association of the companies can be formalized by making an appointment with the notary or electronically.