THE MINISTRY OF ECONOMIC DEVELOPMENT PROPOSED TO CANCEL THE PRE-EMPTIVE RIGHT TO PURCHASE A SHARE OF LLC PARTICIPANTS

The Ministry of Economic Development has taken the initiative to allow not to apply the pre-emptive right to acquire a share by a participant of a limited liability company (LLC) when it is sold by other owners. The document of the draft amendments was at the disposal of Vedomosti.

As explained in the Ministry, the innovation was developed at the request of business.

The explanatory note clarifies that the amendments will allow for greater flexibility of the LLC's corporate structure and efficiency in changing it in the current conditions of unstable economic conditions.

Recall that today the sale of a share in an LLC to third parties by a participant is possible only after the other participants refuse to purchase it on the terms offered to a potential buyer.

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