Maassen, G.F. (2004). Major Transactions: How the Macedonian 2004 Company Law Protects Directors, Managers and Shareholders. Macedonian Business Lawyers Review 11 (5): 113-127.
Following the recommendations of the OECD White Paper on Corporate Governance in South-Eastern Europe, the drafters of the 2004 Macedonian company law have introduced provisions on major transactions of joint stock companies.
These new provisions serve to protect investors and shareholders from 1) unlawful acquisitions by a company of (bona fide) third parties’ assets and from 2) unlawful transfers of the company’s assets to company officials and (bona fide) third parties. The provisions also serve directors and managers who seek greater protection against potential liabilities associated with these types of commercial transactions.
This article explains the role management, directors and shareholders play in the approval of major transactions of Macedonian joint stock companies. It also explains the procedures management and directors must follow before these transactions can be concluded.
←Previous Independent Directors for Macedonian Joint Stock Companies | Het Gebruik van Toezichthoudende Commissies Binnen Raden van Commissarissen Next→ |
---|
- De Adviserende Rol van Commissarissen in het Licht van de Code Tabaksblat
- Gebruik Toezichthoudende Commissies Sterk Toegenomen in Nederland
- Cumulative Voting and the Protection of Minority Shareholders in the CIS
- Veranderingen in de Service-Rol van Commissarissen in Nederland (In Dutch)
- Investigating the Development of the Internal and External Service Tasks of Non-executive Directors
- Een Internationale Vergelijking van Corporate Governance Modellen
- De Audit-Commissie van de Raad van Commissarissen in Nederland
- SMEs and Corporate Social Responsibility
- The Relationship Between Corporate Governance and the Performance of Joint Stock Companies
- Independent Directors for Macedonian Joint Stock Companies