At reconsideration of the document (№4666) it was said that in Ukraine there are almost 500 thousand LLC (43% of all legal entities Ukraine), compared to 16 thousand joint stock companies, while LLC goes on to be governed by outdated provisions of the Law of Ukraine "On Business Associations " of 1991.

It was also noted that the draft law  will have a positive impact on these processes.

Deregulation:

abolition of legal restrictions that allow unfair  parties to block the activity of the company;

elimination of requirements for the maximum number of participants;

removing restrictions that do not allow the company to convert the obligation to share in the company.

Improvement of corporate governance:

Introduction of  maximum discretionary corporate governance (the principle according to which the parties freely dispose of their material rights);

introduction of flexible thresholds for decision making by the general meeting of participants;

introduction of a corporate agreement between the parties.

Improvement of investment climate:

introduction of management responsibility of the company;

introduction of legibility institute and legal interest;

the introduction of exclusion of participants;

introduction of  the obligation of society to pay dividends within a certain period.

Participants also pointed out that the adoption of such a law shall be essential for economic subjects and participants as it shall contribute to the protection of minority members with a of flexible regulation and prevention raider schemes. Also, a law has to impact improving of investment climate in Ukraine, creating jobs and, consequently, increase revenues to the state budget of Ukraine.
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