[April 11 | Tianjin] GCC Networking: 

Kammerstammtisch:

China's revised Company Law, Companies need to know this!

Date: Thursday, April 11, 2024 

Time: 16:30 - 20:00

Venue: Paulaner Brauhaus Tianjin

Language: English

Event details:

On 29 December 2023, China enacted its substantially revised Company Law. It now contains 266 articles with sweeping changes in many areas and will take effect on 1 July 2023. Another important deadline is 31 December 2024, by which time older foreign-invested enterprises must adjust their organizational form and other aspects. The revised Company Law includes, among other things:

• Revised capitalization rules, including: a 5-year deadline for capital contributions and transition rules for existing companies; publication of registered and actual paid-up capital, internal audit requirement for paid-up capital and legal consequences for late contributions; right of third-party creditors to demand earlier capital contributions.

• Changed internal structure, including: an optional "audit committee" within the board of directors; possible incorporation of companies without a supervisory board.

• Mandatory involvement of employee representatives, in the board / supervisory board of companies with more than 300 employees; during company restructuring.

• Revised share transfer rules, including waiver of pre-emption rights; enforcement of share transfers; liability of transferee; right of shareholders to require company to purchase their shares in certain cases.

• Liability of legal representatives, directors, officers, controlling shareholders; duty of loyalty, duty of care; special liability in relation to related transactions; during the formation process; in relation to wrongful distribution of profits.

• Formalities, including: resignation of the legal representative, electronic decision-making, invalidity of shareholder/board decisions, mandatory extension of the term of office of directors/supervisory directors.

In this session, Mr. Ralph Koppitz, lawyer and partner of Rödl & Partner China, will introduce the main changes of the new Company Law, including the mandatory obligations for older companies to revise their organizational form, organizational structure, etc.

Agenda：TBC

Fee: Participants will pay individually on consumption. Every attendee will get a free welcome drink (300ml beer or soft drink), and will get a 20% discount on their bill (except beer).

To get an idea of how many persons will attend, we would be pleased if you could register online in advance.

If you have any questions, please feel free to contact Ms. Zhang Zilu at zhang.zilu@china.ahk.d