| Abstract [eng] |
SUMMARY Lithuanian Company Law: Evaluation of Regulatory Changes in 2014 This work explores the regulatory changes in 2014 of the Lithuanian Law on Companies associated with the improvement of the management of the companies and the financial assistance in order to purchase the shares of the company. With the amendments of 2014 Law on companies the legislator ought to rationalize the system of corporate governance. These amendments established the posibility for the Board of the company to also perform the supervision functions. Moreover the legislator took into consideration the concept of conflict of interest and stated the additional provisions for the avoidance of conflict of interests. In general discussion of the implementation of regulatory changes, companies finally have a chance to form a collegial body which can perform both management and supervision functions, therefore this regulatory chabge is considered as positive. Also the changes of the Law on Companies related to transparent activities of the company and the strengthen provisions in order to avoid conflicts of interest in the company is also considered as postive. Moreover, the Lithuanian law on Companies added a new article of the financial assistaince from the funds of the company for the purchase of the company‘s shares if such shares are acquired by the company‘s employees. The financial assistance in Lithuania is allowed not only with the limits ot the company‘s capital but also determining the specific subject that are the only one entitled for the financial asistance – the employees of the company. With the implementation of the amendments of the law on comapnies, a clear goal can be seen – allowing the employees to acquire the shares of the company with the company funds shall make the company‘s activities more efective. These amendments must contribute to employee motivation , loyalty and the effective activities of the company. |
