COVID-19: Current regulations restricting profit distributions

Political discussions have recently focused on limiting distributions of profits. Such calls have focused in particular on companies who receive state aid during the COVID-19 crisis. Not all legal initiatives have been implemented. The following article provides an overview of the current situation regarding the possibility of distributing net profits as well as other limitations. […]

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COVID-19: Decision-making under company law – what can be done remotely? (Part 4)

Further simplifications for shareholders’ and board meetings In our articles of 24 March and 6 April 2020, we reported on legal simplifications relating to holding meetings for shareholders and members of corporate bodies due to the Austrian COVID-19 Company Law Act (COVID-19-GesG): 1. Remote participation and resolutions passed in alternative ways Shareholder meetings (such as […]

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COVID-19: An obstacle for distributing dividends?

The effects of the implemented measures to prevent the spreading of the Corona Virus (known as COVID-19) have started to kick in, albeit not only in a positive way: Most businesses face perilous financial strains, even though the balance sheet of the previous financial year possibly shows a huge profit. This is caused by the […]

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New Register for Ultimate Beneficial Owners (UBO Register)

The UBO Register Act (WiEReG), announced on 15 September 2017, imposes a registration obligation on Austrian corporate entities and other legal entities regarding their ultimate beneficial owners. As of 15 January 2018, all direct or indirect owners holding more than 25 % of the share capital have to be disclosed in the new register maintained […]

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