Saudi Arabia: 沙特阿拉伯:通过2015年新公司法

Last Updated: 11 January 2016
Article by Jones Day

沙特政府近日公布了对沙特公司法的全面修正,该项修正工作持续了相当的时间。新公司法将于其在政府公报(UmAl-qura)上发表之日起的150天后生效。该法生效后将完全取代现有公司法(即于伊斯兰教历1385年3月22日颁布的M/6皇家法令),并将推翻所有与新法冲突的法律规定。新公司法生效时已设立的公司需在一年的期限内作出相应调整以遵守该新法案(需遵守主管当局就该期限而规定的任何法规)。

新公司法代表了沙特公司法的重要革新和现代化建设,使其更加顺应全球公司法和公司治理的趋势和发展。以下所述为新法案的一些关键方面:

公司形式

新法案认可五种公司形式:(i)普通合伙, (ii) 有限合伙,(iii) 合资公司,(iv) 股份公司("JSC"),和(v)有限责任公司 ("LLC")。政府目前准许的三种公司形式(即合作公司、合伙股份有限公司和可变资本公司)已被废除,政府将不再允许设立该种形式的公司。除了极少例外,已废除形式的公司若不转变成任何一种经批准的公司形式,将被视为无效公司,各合伙人将对该无效公司承担连带责任。

新法案规定,工商部("MOCI")仍为沙特公司的主要监管机构,新法亦授权资本市场管理局监管在沙特金融市场上市的股份公司。

股东数量

在新法与旧法框架最重要的差别中,新法案取消了有限责任公司至少两名股东的要求,现在一名股东即可成立有限责任公司。但是一人有限责任公司将受到一些限制,例如,一名自然人不可成立一家以上的一人有限责任公司,并且人有限责任公司不得成立或拥有另外一家一人有限责任公司。虽然法律没有明确规定,但是法人实体或许可在沙特王国成立一家或一家以上的一人有限责任公司,尽管这仍需视工商部就这方面管理的灵活性而定。
股份公司现在要求至少需两名股东(比现行法律中至少五名股东有所下降)。但是,政府、司法机构、国有独资企业以及资本超过500万沙特里亚尔的公司,可在新法项下成立仅有一名股东的股份公司。

资本

有限责任公司仍无最低资本要求。成立股份公司的最低资本由200万沙特利亚尔减少至50万沙特里亚尔。但是在实际操作中,监管所有外商投资的沙特阿拉伯投资总局("SAGIA")可能会对外商投资要求高于公司法最低资本的注资要求或其它资本要求,具体要求视拟议经营活动的性质而定。

电子出版物

新法要求工商部网站以电子方式公开各种出版物和公告,包括公示章程及其修订。因此这一规定也潜在地取消了该等文件需在政府公报发表的要求。

股份公司/公司治理

如果股份公司的董事会主席和成员辞职,或当股东大会不能通过选举组成董事会,则工商部或资本市场管理局(如涉及上市公司)可进行介入,并成立一个由适当经验、专业知识以及数量的人员组成的临时委员会来监管公司。

革新后的公司治理规定对董事会主席兼任公司高管的情形加以了新的约束。另外,新法要求股份公司成立一个审计委员会来监督该公司的经营。审计委员会由三至五成员组成,并不得由董事会管理成员组成(无论是否来自股东)。关于投票权,董事会选举允许累计投票,但前提是每股选举权的使用未超过一次。

股东大会的举行以及股东进行决策的审议或投票,现在可以根据有关部门的规定通过"现代科技手段"进行。对有限责任公司似乎未有类似规定。

新法案允许股份公司发行债务工具和融资工具(Sukooks)。股份公司另可根据有关部门的规定购买或抵押自身股票。但是,该等公司回购的股票不得在股东大会时进行投票。

出现控股公司的概念

新法案中出现了以有限责任公司或股份公司的形式设立"控股公司"的概念。控股公司本质上是一家通过持有其他有限责任公司或股份公司一半以上的资本、或通过控制董事会构成来对该等公司进行控制的企业。

控股公司可用于各种目的,包括投资股票和其他证券、拥有自身的动产和不动产,及持有知识产权。控股公司需根据公认会计准则对其所有子公司准备年度合并财务报表。

亏损

如果有限责任公司的亏损达到资本50%,根据第181条的规定,公司经理必须在通知股东之日起的90天内,向商业登记处登记这一事实并召开股东大会,以考虑公司是否要存续或解散。如果经理未通知股东,或股东对公司的存续或解散未采取任何行动,则公司将依法被强制解散。现有法律规定,若股东就公司是否存续或解散未作任何决定,则股东将承担连带责任。

如果一家股份公司在某一财政年度内的任何时候亏损达实收资本的50%,根据第150条的规定,董事会需在规定的时限内召开股东特别大会,以决定是否要增加或减少公司资本或进行清算。如果股东特别大会未及时召开,或如果股东大会已经召开但未作出任何决定,或者股东大会决定增资但是融资未能在该决定90天内完成,则公司将依法被强制解散。

范本

在新公司法颁布之日起的120天内,工商部将在其网站公布所有类型公司的章程和细则范本。

结语

能够成立一人有限责任公司是一项比较受欢迎的发展,特别是对于因之前至少两名股东的要求而长期在附加文书材料和繁冗的行政手续中挣扎的外国投资者来说。对股份公司资本和股东规则的放宽使得公司能够去寻求股份公司的优势(如更高的透明度、加强的公司治理结构、能够进入公开市场),而不是去担忧行政和财政负担。有限责任公司有限责任状态的提升也是一项积极的发展。

考虑到所有境内的外商投资(包括非海湾合作委员会人士在沙特王国境内成立的公司)仍受沙特阿拉伯投资总局规则的许可限制,新法案对外国投资者有怎样的利处仍有待观察。为适应新的公司法,沙特投资总局对其规则更新到何种程度将是趣闻乐见的。

以上文章为翻译版, 点击阅读英文原版

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