The law on the simplification of business life empowered the government to take measures by means of ordinance to reduce the minimum number of shareholders in unlisted public limited companies and to adapt the rules of administration, operation and control of these companies, without calling into question the powers and rules of composition, organization and operation of their bodies.
As a result of Ordinance No. 2015-1127 of September 10, 2015, which entered into force on the 12th, the minimum number of shareholders in unlisted public limited companies is reduced to two instead of seven ( art. L.225- 1 of the Commercial Code ). The requirement of a minimum of seven shareholders therefore remains for listed companies only. The ordinance also draws the consequences of this new rule and modifies article L.225-247 of the Commercial Code relating to the dissolution of public limited companies when the number of shareholders has been reduced to less than seven for more than a year.
Finally, contrary to the terms of the authorization, the report to the President of the Republic specifies that the government has chosen not to modify the rules of administration, operation and control of these companies.
Company law, creation and sale of business
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