The Chamber of Deputies approved the expected draft of an extensive amendment to the Business Corporations Act and other related acts
The amendment introduces changes in the corporate governance of capital companies, including issues of performance, establishment and termination of statutory board members, distribution of equity, the monistic system of internal management of joint stock companies or ensuring greater protection of the rights of shareholders and third parties. The amendment also seeks to clarify a number of legal and technical provisions. The text of the bill was delivered to the Senate and is now subject to its approval. Effectiveness is scheduled for 1 January 2021.