Orsingher Ortu – Avvocati Associati
Most Read: Contributor Italy, November 2023
Italy:
Assonime On Changes Made By The Shareholders' Meeting To The Proposed Allocation Of Profits And Related Effects On The Financial Statements
16 November 2023
Orsingher Ortu – Avvocati Associati
To print this article, all you need is to be registered or login on Mondaq.com.
On 7 September 2023, Assonime issued its Case No. 5/2023 (a) recalling that directors
must indicate the proposed allocation of profits in the explanatory
notes to the financial statements, but the competence to decide on
the allocation belongs to the ordinary shareholders' meeting,
which adopts an independent resolution subsequent to the decision
to approve the financial statements and which may amend the
proposal on profits submitted by the directors, and (b) specifying
that any amendment to the directors' proposal concerning the
allocation of profits resolved by the shareholders' meeting
does not entail the need to approve the financial statements once
again.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
POPULAR ARTICLES ON: Corporate/Commercial Law from Italy
UK Legal Update - Spring 2024
Travers Smith LLP
Our round-up of recent and forthcoming developments in UK law and practice for our international stakeholders.
Denial In The Nile: Intention And Contract Formation
Gatehouse Chambers
The Court of Appeal in SMIT Salvage BV v Luster Maritime SA [2024] EWCA Civ 260 has dismissed an appeal against the High Court's decision that no contract was agreed for the remuneration...