A new amendment to the directive on cross-border conversions, mergers and divisions will adopt safeguards and provide harmonised procedures, especially for small and medium sized limited liability companies, in case of cross border restructurings in the European Union. The amended rules will empower minority shareholders, who, in case of disapproving a cross-border transformation or merger, will have the right to dispose their shares and receive adequate cash compensation. Such compensation will be examined by an independent expert, unless shareholders waive their right to receive such external assessment. Concerned creditors of the company have also been granted clearer and more reliable securities during cross-border transformations.
The Member States of the European Union shall bring into force the laws, regulations and administrative provisions necessary to comply with the EU Directive
Based on the amendment of the company registration procedure entered into force on 19 July 2017, the content of the form on the company’s application for registration and for amendment has been changed.
In order to comply with the provisions of the new Hungarian Civil Code, limited liability companies (Kft.) shall increase the amount of their registered capital up to HUF 3 million. The deadline for adjusting the articles of association in this respect is 15 March 2017, thus, the application for registration of the amendment shall be submitted to the competent court of registration before 14 April 2017 at the latest.