Clifford Chance
Stock Corporation Law Amendment Act 2012
28 February 2012
The purpose of the Stock Corporation Law Amendment Act 2012 is to further develop and bring specific amendments to German stock corporation law. The Federal Government's draft bill that has now been published differs in several respects from the ministerial draft bill of 2010. It is expected that the Stock Corporation Law Amendment Act will take effect in mid-to-late 2012. The principal changes concern the issue of bearer shares, "reverse" convertible bonds, the issue of preference shares that do not give entitlement to deferred dividend payments and the introduction of a relative deadline for the filing of an action to annul.
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