LABOUR COMPANIES ACT 44/2015, OF 14 TH OCTOBER, ON LABOUR AND PARTICIPATED COMPANIES, AND THE NECESSARY ADAPTATION OF THEIR BY-LAWS

Abstract

The new Spanish Act 44/2015, of 14 th October, on Labour and Participated Companies, actualized the regulatory framework applicable to labour public limited companies and labour limited liability companies, and established a two-year period, since the date of entry into effect, for the adaptation of their by-laws. The non-compliance with said obligation leads to denial of registration, with few exceptions, until the adaptation is proved. Whether the companies meet the legal
deadline for said adaptation or not, their by-laws shall be reviewed in order to modify those aspects which are incompatible with the new act. We will analyze in this project the main aspects which must be subject to adaptation, as well as the
possibility to use said adaptation to voluntarily modify, if the partners agree to do so, aspects in which the new law allows the freedom to establish the governing terms.