July 19th, 2017

Project of Decree by Which Diverse Provisions of the

General Law of Commercial Companies are Added

Last June 14th, he Draft Decree was published in the Official Gazette of the Federation, adding several provisions of the General Law of Commercial Companies; it is important to point out that its transitory provisions establish that it will come into force 6 months after its publication, that is, from December 17th, 2018.

The project contemplates that any alienation of shares or social parties, as well as modifications in the structure of the capital stock of pubic limited and limited responsibility companies must comply with the requirement of publicity through the Electronic System of Publications of Commercial Companies of the Ministry of Economy.

In this regard, it is important to point out that the obligation to make the publications in the Electronic Publishing System by companies is currently applicable for various cases, such as 1) calls for shareholders’ meetings, 2) decreases in capital stock, and 3) the final liquidation balance sheet.

It is necessary to inform that having the current Advanced Electronic Signature and the legal representative of the company are imperative requisites to make publications in the Electronic System of Publications of Commercial Companies of the Ministry of Economy.


 

Derived from the above, it is important to discuss the need to keep updated the Corporate Books of the company (changes in the Capital Structure/Shareholders Registry), to the effect that once the mentioned decree enters into force the company can comply promptly with the obligation to publish notices in the Electronic System, in the case of corporate resolutions that fall under the aforementioned assumptions.

Finally, the Ministry of Economy must ensure confidentially the personal data of shareholders contained in the notice, except in cases where judicial or administrative authorities request the information to exercise their powers in terms of the corresponding legislation.

We remain at your service in our address:

Rio Duero 31 Col. Cuauhtemoc, A.i.c. Cuauhtémoc,

C.P. 06500, Mexico City.

Main line: +52 55 5242.0771

Contact: Marcela Trujillo,

Managing Partner.

marcela.trujillo@rva.com.mx,

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