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Change of founder or Director

Changing the founder or Director is an important step in the company’s life. Much depends on this decision: the selection of qualified and experienced personnel, success in the market, getting a good profit by the company, and much more.

Information about the company’s management, elected or appointed by acting officials, authorized to represent interests in legal cooperation with third parties is entered the Unified State Register under the category of legal entities or individuals.

Candidates for the position of Director: what it should be

The owner of the used property, one of the participants or a specific official can become the Director of the company or enterprise. If you choose the third option, a contract is concluded.

The General Director has the right to conduct the business of the organization without a signed power of attorney. Other members of the management team have the same authority. It should be noted that the supreme body can transfer some of its powers to the new head. This action is carried out following the law.

The reasons for the change of the founder or Director

The appointment of a new Director to a company or enterprise may become necessary when the current manager fails to perform his duties or makes decisions that cause great risks and even losses.

From this we can conclude that if necessary, the head can be replaced. This is quite normal. We can say that we care about the life of the enterprise.

LLC and PE: what is the difference between processes

To change the Director, you should not only make the appropriate decision at the meeting, but also apply to many government agencies. We are talking about fiscal, tax and registration services, and even banks.

The change of management, Director of a limited liability Company begins with a meeting of the constituent Council, where participants vote for or against. Then they collect and execute documentation, apply to the authorities to enter data in the Unified state register. The change of the Director of the LLC is carried out after the decision according to the regulation (the document regulating the company’s activities).

Now it is worth saying about PE. Here the procedure is similar, but there are still some differences. The constituent council should contact the National Securities Commission and the National Depository of Ukraine. The above-mentioned structures regulate the movement of securities on the market and keep deposit records of shares.

It should also be noted that all issues related to the Company’s activities can be handled by both the director and the general director. This is also a significant difference. If the Company has a single executive body, a director is appointed. The general director is selected by the collegial Council.

There is one important point: in the case when the constituent Council is going to change the company’s head, the General Director cannot lead it in any way.

The change is put to a vote. The decision is taken in the recruitment of a greater number of votes for. In addition, the meeting must have a quorum, that is, be held legally. At the same time, protocols must be maintained. All completed documents are sent to the state Registrar for entering information in the appropriate registers. If the Director changed his last name or any other passport data, this is also entered the Unified State Register.

The change of the Director can be organized by the highest body of the company, the meeting of founders. According to the law, it is authorized to solve such issues if the founders share the authorized capital of more than 60% of the enterprise’s total capital.

If you have any questions, please call (067) 239 9388

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