Avdelare

11-11-15

Views on proposed changes to the so called Leo rules

The Board was invited by the Ministry of Justice to comment on its memorandum on changes to the legislation concerning private placements of shares, Ds 2011:21, which contains proposals on changes to the "Leo rules" in Chapter 16 of the Companies Act, (2005:551).

In its comments, the Board rejects the proposed reduction of the majority requirement from a nine tenths to a two thirds majority. It does, however, welcome an exception for the transfer of shares in small subsidiaries, though with some suggestions regarding the formulation of the regulation. The Board also suggests limiting the sphere of application of the rules to listed companies only.

 Read the views here.