Qianhai Company Incorporation Services
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The draft Foreign Investment Law is not intended to be a mere revision of the three FIE laws, but rather is a reform and standardisation of the old foreign investment regime, which consisted of scattered and sometimes inconsistent national and local laws and regulations.The draft Foreign Investment Law is not intended to be a mere revision of the three FIE laws, but rather is a reform and standardisation of the old foreign investment regime, which consisted of scattered and sometimes inconsistent national and local laws and regulations. The constraints and distinctions between cooperative joint venture, equity joint venture and wholly foreign-owned enterprise will disappear.
Here are 10 Key Changes for China company articles of association draft :
1. Memorandum of Association's Abolition
2. Abolition of par value
3. Corporate directors
4. Directors’ duty of care, skill and diligence
5. Directors service contracts, loans to directors and payments for loss of office
6. Disclosure of interests by directors
7. General Meetings and dispensation with Annual General Meeting
8. Members’ written resolution
9. Common Seal and execution of documents
10. Responsible Persons
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