Two bills were considered during the meeting: “On limited liability companies and additional liability companies” (Reg. No. 2011) and “On limited and additional liability companies” (Reg. No. 2011-1).
The Deputy Chairperson of the Committee Kseniya Liapina noted that a limited liability company (LLC) is the most common legal form for small and medium businesses. According to her, the LLC legal structure should be flexible enough to be adapted to the needs of a wide range of businesses that differs from each other in such parameters as the number of participants, the amount of assets, activities, number of employees etc. The additional liability companies (ALC) are less common, as they provide their members with less attractive regime, which imposes on them more responsibility for the possible debts of the company in case of liquidation.
It was stressed at the meeting that current legislation that regulates activity of limited and additional liability companies (provisions of the Civil and Economic Codes and the Law “On Economic Associations”) is contradictory, fragmental and does not correspond to the modern requirements of flexibility and efficiency.
As a result of a discussion the decision was taken to generalize expressed proposals to the drafts that will be taken into account in further work.