What is the new company law for industrial and commercial registration?

On 28th, the 6th meeting of the 12th the National People's Congress Standing Committee (NPCSC) decided to amend the Company Law, which will take effect on March 20 14. Matters needing attention for registered companies: changing the paid-in system into the subscription system and changing the paid-in system of registered capital into the subscription system of registered capital are the most prominent highlights of the newly revised company law.

According to the provisions of the newly revised Company Law, except for laws, administrative regulations and the State Council's decision on the paid-in registered capital of the company, the provisions that the shareholders (promoters) of the company should pay in full within two years from the date of establishment of the company and the investment company can pay in full within five years have been cancelled; The provision that shareholders of a one-person limited liability company should pay their capital contribution in full at one time was cancelled. Shareholders (promoters) of the company independently agree on the amount, mode and duration of capital contribution, and record them in the articles of association. This reform is conducive to individual entrepreneurship, promoting the establishment of China's credit system and promoting the transformation of resource allocation methods. For more information about registered companies, Shenzhen Zhongke is recommended as an industrial group.

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