Tag: corporate liability

Corporate governance in China: A review of meetings and resolutions of the Limited Liability Company

Shareholders’ meeting Company Law of the People's Republic of China establishes the shareholders' meeting of a limited liability company to be comprised of its shareholders and is the highest authority in the company. The Shareholders’ meeting is an indispensable component in which members exercise their investor’s right to collectively govern the company, in accordance with…

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A brief look at the application of law in foreign-related civil relations in China

In 2011, the “PRC Law on the Application of Laws to Foreign-Related Civil Relations” (“Law”) was promulgated to provide for what the applicable laws should be when foreign-related civil relations are involved. The definition of “foreign-related civil relations”, however, was not specifically set out in the Law and was, more or less, scattered across various…

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Companies (Amendment) Ordinance 2018: Maintaining of Significant Controllers Register by Hong Kong Incorporated Companies

The Companies (Amendment) Ordinance 2018, which came into operation on 1 March 2018 imposed on companies incorporated in Hong Kong (excluding listed companies in Hong Kong) an obligation to maintain a Significant Controllers Register (SCR). Coupled with the Common Reporting Standard, which took effect on 1 July 2017 in Hong Kong, the new provision reflects…

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China’s “Five-in-One” Policy: Reform of company registration system streamlining in full effect

After the progression of China’s “Three-in-One” Reform in October 2015 incorporating the business license, organization code certificate and tax registration certificate into one integrated business license (one certificate with one unified code), and the updated to “Five-in-One” policy (October 2017), the “all-in-one” process now stands fully implemented as of 31 December 2017. Prior to “Three-in-One”,…

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Piercing the ‘Corporate Veil’ — Russia

In its Spring newsletter, CONSULEGIS International Litigation & Arbitration Specialist Group presented an abbreviated overview of 23 jurisdictions’ legal views on the topic of when courts may disregard a corporate entity to make owners of the entity personally liable for the debts of the entity—what is commonly thought of as “piercing the corporate veil”.  Among the contributors…

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