Legislative Act of 12 December 2012 (Amendment of the Minimum Share Capital Threshold)

SUBJECT: Legislative Act dated 12-12-2012 (Government Gazette 240/12-12-2012, Issue A’)

Article 6 paragraph 3 of the above Legislative Act provides as follows:

a) Paragraph 2 of Article 8 of Codified Law 2190/1920 “on sociétés anonymes (public limited companies)” is amended as follows:
«The minimum share capital of a public limited company is set at the amount of twenty-four thousand (24,000.00) euros, fully paid up at the time of the company’s incorporation».

b) The first sentence of paragraph 1 of Article 4 of Law 3190/1955 (A’ 91) “on limited liability companies” is amended as follows:
«The company’s capital may not be less than two thousand four hundred (2,400.00) euros, fully paid up at the time of the execution of the company agreement», and

c) Paragraph 3 of Article 41 of Law 3190/1955 (A’ 91) is replaced as follows:
«3. The company capital may in no case be reduced below two thousand four hundred (2,400.00) euros, nor may the company shares fall below thirty (30.00) euros».