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In the midst of a global economic crisis of proportions unseen for generations, the financial woes of many businesses have become such that today, the pursuit of survival has taken the place of the pursuit of profit. Come the time for yearly accounting, companies based in the Macau SAR may be faced with a situation where their net value has decreased to such a level that the law mandates immediate action. Such is the case of Article 206 of the Commercial Code, the terms and provisions of which stipulate that, should the board of directors verify through the annual accounts that the company’s net value is lower than half of its share capital, it is compelled under the penalty of criminal law to submit for approval by the shareholders a resolution which embraces one of the three solutions set forth by the legislator.
João Nuno Riquito and Belmiro Leong of Riquito Advogados explain how managers, attorneys, and commercial auxiliaries can assist a company’s management in an efficient way to facilitate the logistics of the operation
Bruno Almeida and Bernice Kwok of Riquito Advogados say a newly enacted law that criminalises illegal exchanges of currencies addresses an increasingly prevalent issue and could help protect the region’s economic and financial stability
Macau’s lack of a legal framework with regard to exercising the right to unionise and go on strike is finally being addressed. Bruno Almeida and Paulo Alves Teixeira of Riquito Advogados consider the enacting legislation
