According to the new Law on Companies, all joint stock companies and limited liability companies are obliged to harmonize their organization with the law and perform a registration of alterations within nine months of the day of enforcing the law, while all other companies are obliged to do the same within eighteen months.
Partnerships and entrepreneurs which are not registered in the Company register are obliged register within nine months of the day of enforcing the law. Entrepreneurs which were registered in the Company register up until the day of enforcing the law are under an obligation to harmonize their management and submit a registration application in accordance with the law within six months.
If the requirements are not met within the arranged deadlines, competent authority will start a process of judicial liquidation within thirty days after the expiration of deadlines and delete them after the procedure.
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