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.
Sponsored by Riquito AdvogadosJoão Nuno Riquito and Belmiro Leong of Riquito Advogados explain the expanded role of the company secretary in Macau and its relation to good corporate governance.
Sponsored by Riquito AdvogadosJoão Nuno Riquito and Hália Cerqueira of Riquito Advogados report on a one-stop dual listing initiative between Macau and Luxembourg that is expected to build international financing channels and foster financial innovation
Sponsored by Riquito AdvogadosJoão Nuno Riquito and Kimberley Cheong of Riquito Advogados highlight Macau’s bold new proposals to overhaul its legal framework to better serve its banking industry