Recent Mergers And Acquisitions In Finland - Changes In Companies Act To Come Into Force In September

Finland's Companies Act has been amended to correspond with EC legislation. The proposal for the changes submitted to the Parliament in June 1996 was finally ratified on December 16th, 1996 with the changes coming into force on September 1st, 1997. The most important changes include a distinction between a public and private company, new rules defining certain common financial instruments and rules for acquiring own shares. These changes and the other major changes have been described more thoroughly in Castren & Snellman's article "Reforms in Companies Act" (July 1996)

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