Skip to main content Accessibility help
×
Hostname: page-component-7c8c6479df-ws8qp Total loading time: 0 Render date: 2024-03-29T01:37:58.033Z Has data issue: false hasContentIssue false

17 - Lithuania

from Part II - National reports for the EU Member States

Published online by Cambridge University Press:  05 June 2014

Akvilė Bosaitė
Affiliation:
Raidla Lejins & Norcous
Dirk Van Gerven
Affiliation:
NautaDutilh, Brussels
Get access

Summary

Implementation and scope

The Second Company Law Directive was implemented in the Lithuanian legal system by transposing its rules into the Law on Companies of the Republic of Lithuania (the “Law on Companies”).

The scope of the Second Company Law Directive is set to cover public limited liability companies (Akcinė bendrovė, abbreviated as “AB”), with possibility for the Member States to extend the scope of this Directive also to include private limited liability companies (Uždaroji akcinė bendrovė, abbreviated as “UAB”). When we discuss the implications of the Second Company Law Directive in the national legal system, we will identify where certain regulation applies only to AB and where to both types of limited liability companies. Where we refer to company, both – AB and UAB – should be held in mind.

Article 1(2) of the Second Company Law Directive provides that Member States may choose not to apply the rules of the Directive to investment companies with variable capital and to certain types of cooperatives. The Law on Collective Investment Undertakings of the Republic of Lithuania (the “Law on Collective Investment Undertakings”) provides that management companies, investment companies with variable capital and closed-ended investment companies are subject to the requirements of the Law on Companies to the extent that the Law on Collective Investment Undertakings does not regulate otherwise (Art. 1(5) Law on Collective Investment Undertakings). The Law on Companies provides further exceptions to the applicability of that law to investment companies with variable capital. Parts 3 and 4 of Article 22 and Articles 26, 26, 30, 30 of the Law on Companies are set not to apply to collective investment undertakings except for closed-ended investment undertakings.

Type
Chapter
Information
Capital Directive in Europe
The Rules on Incorporation and Capital of Limited Liability Companies
, pp. 509 - 541
Publisher: Cambridge University Press
Print publication year: 2014

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

Save book to Kindle

To save this book to your Kindle, first ensure coreplatform@cambridge.org is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.

Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

Find out more about the Kindle Personal Document Service.

  • Lithuania
  • General editor Dirk Van Gerven
  • Book: Capital Directive in Europe
  • Online publication: 05 June 2014
  • Chapter DOI: https://doi.org/10.1017/CBO9781139031691.020
Available formats
×

Save book to Dropbox

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.

  • Lithuania
  • General editor Dirk Van Gerven
  • Book: Capital Directive in Europe
  • Online publication: 05 June 2014
  • Chapter DOI: https://doi.org/10.1017/CBO9781139031691.020
Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

  • Lithuania
  • General editor Dirk Van Gerven
  • Book: Capital Directive in Europe
  • Online publication: 05 June 2014
  • Chapter DOI: https://doi.org/10.1017/CBO9781139031691.020
Available formats
×